BLX vs. SPY
Compare and contrast key facts about Banco Latinoamericano de Comercio Exterior, S.A (BLX) and State Street SPDR S&P 500 ETF (SPY).
SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
BLX vs. SPY - Performance Comparison
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BLX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BLX Banco Latinoamericano de Comercio Exterior, S.A | 16.14% | 33.06% | 53.73% | 60.61% | 4.31% | 11.50% | -19.47% | 33.06% | -31.32% | -3.40% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, BLX achieves a 16.14% return, which is significantly higher than SPY's -4.37% return. Over the past 10 years, BLX has outperformed SPY with an annualized return of 14.96%, while SPY has yielded a comparatively lower 13.98% annualized return.
BLX
- 1D
- 1.23%
- 1M
- 2.10%
- YTD
- 16.14%
- 6M
- 14.28%
- 1Y
- 47.82%
- 3Y*
- 51.95%
- 5Y*
- 35.37%
- 10Y*
- 14.96%
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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Return for Risk
BLX vs. SPY — Risk / Return Rank
BLX
SPY
BLX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Banco Latinoamericano de Comercio Exterior, S.A (BLX) 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.
| BLX | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.97 | 0.93 | +1.04 |
Sortino ratioReturn per unit of downside risk | 2.70 | 1.45 | +1.24 |
Omega ratioGain probability vs. loss probability | 1.35 | 1.22 | +0.12 |
Calmar ratioReturn relative to maximum drawdown | 3.75 | 1.53 | +2.23 |
Martin ratioReturn relative to average drawdown | 9.79 | 7.30 | +2.49 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BLX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.97 | 0.93 | +1.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.39 | 0.69 | +0.70 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.47 | 0.78 | -0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 0.56 | -0.35 |
Correlation
The correlation between BLX and SPY is 0.37, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
BLX vs. SPY - Dividend Comparison
BLX's dividend yield for the trailing twelve months is around 5.02%, more than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BLX Banco Latinoamericano de Comercio Exterior, S.A | 5.02% | 5.61% | 5.62% | 4.04% | 6.17% | 6.02% | 7.17% | 7.20% | 8.90% | 5.72% | 5.23% | 4.96% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
BLX vs. SPY - Drawdown Comparison
The maximum BLX drawdown since its inception was -95.88%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for BLX and SPY.
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Drawdown Indicators
| BLX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.88% | -55.19% | -40.69% |
Max Drawdown (1Y)Largest decline over 1 year | -12.42% | -12.05% | -0.37% |
Max Drawdown (5Y)Largest decline over 5 years | -30.88% | -24.50% | -6.38% |
Max Drawdown (10Y)Largest decline over 10 years | -68.51% | -33.72% | -34.79% |
Current DrawdownCurrent decline from peak | -0.18% | -6.24% | +6.06% |
Average DrawdownAverage peak-to-trough decline | -33.09% | -9.09% | -24.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.76% | 2.52% | +2.24% |
Volatility
BLX vs. SPY - Volatility Comparison
Banco Latinoamericano de Comercio Exterior, S.A (BLX) has a higher volatility of 6.84% compared to State Street SPDR S&P 500 ETF (SPY) at 5.31%. This indicates that BLX'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.
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Volatility by Period
| BLX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.84% | 5.31% | +1.53% |
Volatility (6M)Calculated over the trailing 6-month period | 15.57% | 9.47% | +6.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.44% | 19.05% | +5.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.57% | 17.06% | +8.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.13% | 17.92% | +14.21% |