ATLC vs. SPY

Last updated Jun 24, 2026

ATLC (Atlanticus Holdings Corporation) is a stock, while SPY (State Street SPDR S&P 500 ETF) is S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, ATLC returned 41.82%/yr vs 15.53%/yr for SPY. At a 0.33 correlation, their price movements are largely independent.

Performance

ATLC vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Atlanticus Holdings Corporation (ATLC) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ATLC achieves a 51.40% return, which is significantly higher than SPY's 8.15% return. Over the past 10 years, ATLC has outperformed SPY with an annualized return of 41.82%, while SPY has yielded a comparatively lower 15.53% annualized return.

ATLC

• 1D: 1.85%
• 1M: 21.91%
• YTD: 51.40%
• 6M: 45.46%
• 1Y: 100.04%
• 3Y*: 36.12%
• 5Y*: 21.44%
• 10Y*: 41.82%

SPY

• 1D: -1.45%
• 1M: -1.36%
• YTD: 8.15%
• 6M: 7.20%
• 1Y: 23.59%
• 3Y*: 20.68%
• 5Y*: 13.05%
• 10Y*: 15.53%

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

ATLC vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ATLC Atlanticus Holdings Corporation	51.40%	20.03%	44.25%	47.60%	-63.26%	189.57%	173.36%	147.53%	51.67%	-15.47%
SPY State Street SPDR S&P 500 ETF	8.15%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Correlation

The correlation between ATLC and SPY is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (10Y) Calculated over the trailing 10-year period	0.33
Correlation (All Time) Calculated using the full available price history since Apr 23, 1999	0.33

The correlation between ATLC and SPY shifts across timeframes, from 0.33 (10 years) to 0.52 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

ATLC vs. SPY — Risk / Return Rank

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

ATLC

ATLC Risk / Return Rank: 82
ATLC Sharpe Ratio Rank: 88
ATLC Sortino Ratio Rank: 83
ATLC Omega Ratio Rank: 81
ATLC Calmar Ratio Rank: 82
ATLC Martin Ratio Rank: 77

SPY

SPY Risk / Return Rank: 59
SPY Sharpe Ratio Rank: 58
SPY Sortino Ratio Rank: 56
SPY Omega Ratio Rank: 57
SPY Calmar Ratio Rank: 56
SPY 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.

ATLC vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Atlanticus Holdings Corporation (ATLC) and State Street SPDR S&P 500 ETF (SPY). 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.

	ATLC	SPY	Difference
Sharpe ratio: Return per unit of total volatility	1.92	1.90	+0.02
Sortino ratio: Return per unit of downside risk	2.44	2.58	-0.14
Omega ratio: Gain probability vs. loss probability	1.30	1.34	-0.04
Calmar ratio: Return relative to maximum drawdown	2.72	2.67	+0.05
Martin ratio: Return relative to average drawdown	5.22	11.92	-6.70

ATLC vs. SPY - Sharpe Ratio Comparison

The current ATLC Sharpe Ratio is 1.92, which is comparable to the SPY Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of ATLC and SPY, 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

ATLC vs. SPY - Drawdown Comparison

The maximum ATLC drawdown since its inception was -97.95%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for ATLC and SPY.

Drawdown Indicators

	ATLC	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-97.95%	-55.19%	-42.76%
Max Drawdown (1Y) Largest decline over 1 year	-37.02%	-8.88%	-28.14%
Max Drawdown (3Y) Largest decline over 3 years	-45.06%	-18.76%	-26.30%
Max Drawdown (5Y) Largest decline over 5 years	-74.90%	-24.50%	-50.40%
Max Drawdown (10Y) Largest decline over 10 years	-74.90%	-33.72%	-41.18%
Current Drawdown Current decline from peak	0.00%	-3.17%	+3.17%
Average Drawdown Average peak-to-trough decline	-72.16%	-9.04%	-63.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.24%	1.98%	+17.26%

Volatility

ATLC vs. SPY - Volatility Comparison

Atlanticus Holdings Corporation (ATLC) has a higher volatility of 16.98% compared to State Street SPDR S&P 500 ETF (SPY) at 4.87%. This indicates that ATLC's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ATLC	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.98%	4.87%	+12.11%
Volatility (6M) Calculated over the trailing 6-month period	40.00%	9.85%	+30.15%
Volatility (1Y) Calculated over the trailing 1-year period	52.40%	12.50%	+39.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	54.24%	17.15%	+37.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	68.71%	17.95%	+50.76%

Dividends

ATLC vs. SPY - Dividend Comparison

ATLC has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.03%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ATLC Atlanticus Holdings Corporation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	1.03%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both ATLC and SPY in my portfolio?

ATLC and SPY have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ATLC or SPY?

ATLC has higher volatility (16.98%) compared to SPY (4.87%). In terms of maximum drawdown, ATLC dropped -97.95% vs SPY's -55.19%.

Which has better risk-adjusted returns?

ATLC currently has the higher Sharpe Ratio (1.92 vs 1.90), 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.