ASPN vs. SPYM

Last updated Jun 24, 2026

ASPN (Aspen Aerogels, Inc.) is a stock, while SPYM (State Street SPDR Portfolio S&P 500 ETF) is S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, ASPN returned 2.19%/yr vs 15.61%/yr for SPYM. At a 0.37 correlation, their price movements are largely independent.

Performance

ASPN vs. SPYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aspen Aerogels, Inc. (ASPN) and State Street SPDR Portfolio S&P 500 ETF (SPYM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ASPN achieves a 108.48% return, which is significantly higher than SPYM's 8.21% return. Over the past 10 years, ASPN has underperformed SPYM with an annualized return of 2.19%, while SPYM has yielded a comparatively higher 15.61% annualized return.

ASPN

• 1D: -7.38%
• 1M: 1.90%
• YTD: 108.48%
• 6M: 100.00%
• 1Y: 1.37%
• 3Y*: -5.67%
• 5Y*: -25.12%
• 10Y*: 2.19%

SPYM

• 1D: -1.44%
• 1M: -1.32%
• YTD: 8.21%
• 6M: 7.24%
• 1Y: 23.73%
• 3Y*: 20.77%
• 5Y*: 13.13%
• 10Y*: 15.61%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ASPN vs. SPYM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ASPN Aspen Aerogels, Inc.	108.48%	-76.18%	-24.71%	33.84%	-76.32%	198.32%	115.08%	264.32%	-56.35%	18.16%
SPYM State Street SPDR Portfolio S&P 500 ETF	8.21%	17.79%	25.00%	26.24%	-18.09%	28.78%	18.49%	31.99%	-4.78%	21.30%

Correlation

The correlation between ASPN and SPYM is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (10Y) Calculated over the trailing 10-year period	0.40
Correlation (All Time) Calculated using the full available price history since Jun 13, 2014	0.37

The correlation between ASPN and SPYM shifts across timeframes, from 0.36 (1 year) to 0.50 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

ASPN vs. SPYM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ASPN

ASPN Risk / Return Rank: 46
ASPN Sharpe Ratio Rank: 43
ASPN Sortino Ratio Rank: 49
ASPN Omega Ratio Rank: 51
ASPN Calmar Ratio Rank: 42
ASPN Martin Ratio Rank: 42

SPYM

SPYM Risk / Return Rank: 59
SPYM Sharpe Ratio Rank: 59
SPYM Sortino Ratio Rank: 56
SPYM Omega Ratio Rank: 58
SPYM Calmar Ratio Rank: 56
SPYM Martin Ratio Rank: 67

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ASPN vs. SPYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aspen Aerogels, Inc. (ASPN) and State Street SPDR Portfolio S&P 500 ETF (SPYM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ASPN	SPYM	Difference
Sharpe ratio: Return per unit of total volatility	0.01	1.92	-1.90
Sortino ratio: Return per unit of downside risk	0.72	2.61	-1.89
Omega ratio: Gain probability vs. loss probability	1.11	1.35	-0.24
Calmar ratio: Return relative to maximum drawdown	0.02	2.68	-2.66
Martin ratio: Return relative to average drawdown	0.03	11.98	-11.95

ASPN vs. SPYM - Sharpe Ratio Comparison

The current ASPN Sharpe Ratio is 0.01, which is lower than the SPYM Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of ASPN and SPYM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ASPN vs. SPYM - Drawdown Comparison

The maximum ASPN drawdown since its inception was -95.96%, which is greater than SPYM's maximum drawdown of -54.46%. Use the drawdown chart below to compare losses from any high point for ASPN and SPYM.

Drawdown Indicators

	ASPN	SPYM	Difference
Max Drawdown Largest peak-to-trough decline	-95.96%	-54.46%	-41.50%
Max Drawdown (1Y) Largest decline over 1 year	-70.86%	-8.90%	-61.96%
Max Drawdown (3Y) Largest decline over 3 years	-91.90%	-18.72%	-73.18%
Max Drawdown (5Y) Largest decline over 5 years	-95.96%	-24.48%	-71.48%
Max Drawdown (10Y) Largest decline over 10 years	-95.96%	-33.87%	-62.09%
Current Drawdown Current decline from peak	-90.73%	-3.14%	-87.59%
Average Drawdown Average peak-to-trough decline	-56.51%	-7.14%	-49.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	45.70%	1.99%	+43.71%

Volatility

ASPN vs. SPYM - Volatility Comparison

Aspen Aerogels, Inc. (ASPN) has a higher volatility of 20.47% compared to State Street SPDR Portfolio S&P 500 ETF (SPYM) at 4.83%. This indicates that ASPN's price experiences larger fluctuations and is considered to be riskier than SPYM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASPN	SPYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.47%	4.83%	+15.64%
Volatility (6M) Calculated over the trailing 6-month period	66.14%	9.83%	+56.31%
Volatility (1Y) Calculated over the trailing 1-year period	92.89%	12.46%	+80.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	88.07%	16.90%	+71.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	75.00%	18.03%	+56.97%

Dividends

ASPN vs. SPYM - Dividend Comparison

ASPN has not paid dividends to shareholders, while SPYM's dividend yield for the trailing twelve months is around 1.30%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASPN Aspen Aerogels, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPYM State Street SPDR Portfolio S&P 500 ETF	1.30%	1.13%	1.28%	1.44%	1.69%	1.25%	1.54%	1.79%	2.23%	1.75%	1.97%	1.98%

Frequently Asked Questions

Can I hold both ASPN and SPYM in my portfolio?

ASPN and SPYM have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ASPN or SPYM?

ASPN has higher volatility (20.47%) compared to SPYM (4.83%). In terms of maximum drawdown, ASPN dropped -95.96% vs SPYM's -54.46%.

Which has better risk-adjusted returns?

SPYM currently has the higher Sharpe Ratio (1.92 vs 0.01), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.