BCGDX vs. SPY

Last updated Aug 4, 2026

BCGDX (Blue Current Global Dividend Fund) and SPY (State Street SPDR S&P 500 ETF) are both funds - BCGDX is a Global Equities fund managed by Blue Current, while SPY is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, BCGDX returned 11.70%/yr vs 15.09%/yr for SPY. Their correlation of 0.88 means they have usually moved in the same direction. BCGDX charges 0.99%/yr vs 0.09%/yr for SPY.

Performance

BCGDX vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Blue Current Global Dividend Fund (BCGDX) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with BCGDX having a 12.01% return and SPY slightly lower at 11.70%. Over the past 10 years, BCGDX has underperformed SPY with an annualized return of 11.70%, while SPY has yielded a comparatively higher 15.09% annualized return.

BCGDX

• 1D: -0.23%
• 1M: 2.54%
• 6M: 8.09%
• YTD: 12.01%
• 1Y: 24.81%
• 3Y*: 20.49%
• 5Y*: 13.08%
• 10Y*: 11.70%
• ALL TIME*: 10.54%

SPY

• 1D: 1.42%
• 1M: 1.73%
• 6M: 9.53%
• YTD: 11.70%
• 1Y: 23.22%
• 3Y*: 20.74%
• 5Y*: 13.05%
• 10Y*: 15.09%
• ALL TIME*: 10.83%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BCGDX Blue Current Global Dividend Fund	$0.00	$0.00	$0.00
SPY State Street SPDR S&P 500 ETF	$38.19B	$36.17B	$39.59B

BCGDX vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BCGDX Blue Current Global Dividend Fund	12.01%	30.23%	16.71%	14.46%	-8.62%	18.78%	7.06%	26.17%	-12.14%	18.97%
SPY State Street SPDR S&P 500 ETF	11.70%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Correlation

The correlation between BCGDX and SPY is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.76
Correlation (3Y) Balances recent behavior with more history.	0.80
Correlation (5Y) Shows whether the relationship held over a longer period.	0.84
Correlation (10Y) Provides a long-term view across more market conditions.	0.86
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015	0.88

The correlation between BCGDX and SPY shifts across timeframes, from 0.76 (1 year) to 0.88 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BCGDX vs. SPY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BCGDX

BCGDX Risk / Return Rank: 83
BCGDX Sharpe Ratio Rank: 87
BCGDX Sortino Ratio Rank: 85
BCGDX Omega Ratio Rank: 82
BCGDX Calmar Ratio Rank: 79
BCGDX Martin Ratio Rank: 85

SPY

SPY Risk / Return Rank: 78
SPY Sharpe Ratio Rank: 78
SPY Sortino Ratio Rank: 77
SPY Omega Ratio Rank: 77
SPY Calmar Ratio Rank: 74
SPY Martin Ratio Rank: 83

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BCGDX vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Blue Current Global Dividend Fund (BCGDX) 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.

	BCGDX	SPY	Difference
Sharpe ratio: Return per unit of total volatility	2.16	1.82	+0.34
Sortino ratio: Return per unit of downside risk	3.08	2.50	+0.58
Omega ratio: Gain probability vs. loss probability	1.39	1.32	+0.07
Calmar ratio: Return relative to maximum drawdown	2.71	2.62	+0.08
Martin ratio: Return relative to average drawdown	11.31	11.20	+0.12

BCGDX vs. SPY - Sharpe Ratio Comparison

The current BCGDX Sharpe Ratio is 2.16, which is comparable to the SPY Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of BCGDX 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

BCGDX vs. SPY - Drawdown Comparison

The maximum BCGDX drawdown since its inception was -35.90%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for BCGDX and SPY.

Drawdown Indicators

	BCGDX	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-35.90%	-55.19%	+19.29%
Max Drawdown (1Y) Largest decline over 1 year	-8.95%	-8.88%	-0.07%
Max Drawdown (3Y) Largest decline over 3 years	-11.79%	-18.76%	+6.97%
Max Drawdown (5Y) Largest decline over 5 years	-21.01%	-24.50%	+3.49%
Max Drawdown (10Y) Largest decline over 10 years	-35.90%	-33.72%	-2.18%
Current Drawdown Current decline from peak	-0.23%	0.00%	-0.23%
Average Drawdown Average peak-to-trough decline	-4.23%	-9.01%	+4.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.14%	2.08%	+0.06%

Volatility

BCGDX vs. SPY - Volatility Comparison

The current volatility for Blue Current Global Dividend Fund (BCGDX) is 3.01%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 3.84%. This indicates that BCGDX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BCGDX	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.01%	3.84%	-0.83%
Volatility (6M) Calculated over the trailing 6-month period	9.27%	10.23%	-0.96%
Volatility (1Y) Calculated over the trailing 1-year period	11.23%	12.87%	-1.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.23%	17.19%	-3.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.81%	17.96%	-2.15%

BCGDX vs. SPY - Expense Ratio Comparison

BCGDX has a 0.99% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

BCGDX vs. SPY - Dividend Comparison

BCGDX's dividend yield for the trailing twelve months is around 4.25%, more than SPY's 0.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BCGDX Blue Current Global Dividend Fund	4.25%	4.77%	4.23%	1.84%	5.11%	8.48%	1.45%	2.24%	1.53%	3.44%	1.99%	1.68%
SPY State Street SPDR S&P 500 ETF	0.99%	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 BCGDX and SPY in my portfolio?

BCGDX and SPY have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BCGDX or SPY?

SPY has higher volatility (3.84%) compared to BCGDX (3.01%). In terms of maximum drawdown, BCGDX dropped -35.90% vs SPY's -55.19%.

Which has better risk-adjusted returns?

BCGDX currently has the higher Sharpe Ratio (2.16 vs 1.82), 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.