BROS vs. ^GSPC

Last updated Jun 24, 2026

BROS (Dutch Bros Inc.) is a stock, while ^GSPC (S&P 500 Index) is an index. Over the past 3 years, BROS returned 33.84%/yr vs 19.20%/yr for ^GSPC. At a 0.45 correlation, their price movements are largely independent.

Performance

BROS vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dutch Bros Inc. (BROS) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BROS achieves a 10.16% return, which is significantly higher than ^GSPC's 7.60% return.

BROS

• 1D: 0.61%
• 1M: 29.39%
• YTD: 10.16%
• 6M: 6.17%
• 1Y: -2.64%
• 3Y*: 33.84%
• 5Y*: —
• 10Y*: —

^GSPC

• 1D: -1.44%
• 1M: -1.45%
• YTD: 7.60%
• 6M: 6.59%
• 1Y: 22.24%
• 3Y*: 19.20%
• 5Y*: 11.54%
• 10Y*: 13.71%

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

BROS vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BROS Dutch Bros Inc.	10.16%	16.88%	65.39%	12.34%	-44.63%	56.65%
^GSPC S&P 500 Index	7.60%	16.39%	23.31%	24.23%	-19.44%	7.27%

Correlation

The correlation between BROS and ^GSPC 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	0.42
Correlation (All Time) Calculated using the full available price history since Sep 15, 2021	0.45

Return for Risk

BROS vs. ^GSPC — Risk / Return Rank

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

BROS

BROS Risk / Return Rank: 40
BROS Sharpe Ratio Rank: 40
BROS Sortino Ratio Rank: 40
BROS Omega Ratio Rank: 38
BROS Calmar Ratio Rank: 40
BROS Martin Ratio Rank: 40

^GSPC

^GSPC Risk / Return Rank: 61
^GSPC Sharpe Ratio Rank: 58
^GSPC Sortino Ratio Rank: 57
^GSPC Omega Ratio Rank: 62
^GSPC Calmar Ratio Rank: 57
^GSPC Martin Ratio Rank: 72

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.

BROS vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dutch Bros Inc. (BROS) and S&P 500 Index (^GSPC). 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.

	BROS	^GSPC	Difference
Sharpe ratio: Return per unit of total volatility	-0.05	1.78	-1.83
Sortino ratio: Return per unit of downside risk	0.33	2.44	-2.11
Omega ratio: Gain probability vs. loss probability	1.04	1.32	-0.29
Calmar ratio: Return relative to maximum drawdown	-0.07	2.46	-2.53
Martin ratio: Return relative to average drawdown	-0.12	10.92	-11.03

BROS vs. ^GSPC - Sharpe Ratio Comparison

The current BROS Sharpe Ratio is -0.05, which is lower than the ^GSPC Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of BROS and ^GSPC, 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

BROS vs. ^GSPC - Drawdown Comparison

The maximum BROS drawdown since its inception was -70.09%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for BROS and ^GSPC.

Drawdown Indicators

	BROS	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-70.09%	-56.78%	-13.31%
Max Drawdown (1Y) Largest decline over 1 year	-37.11%	-9.10%	-28.01%
Max Drawdown (3Y) Largest decline over 3 years	-45.31%	-18.90%	-26.41%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.43%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.92%	—
Current Drawdown Current decline from peak	-21.00%	-3.21%	-17.79%
Average Drawdown Average peak-to-trough decline	-43.68%	-10.71%	-32.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.85%	2.04%	+20.81%

Volatility

BROS vs. ^GSPC - Volatility Comparison

Dutch Bros Inc. (BROS) has a higher volatility of 14.38% compared to S&P 500 Index (^GSPC) at 4.89%. This indicates that BROS's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BROS	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.38%	4.89%	+9.49%
Volatility (6M) Calculated over the trailing 6-month period	36.55%	9.93%	+26.62%
Volatility (1Y) Calculated over the trailing 1-year period	53.13%	12.57%	+40.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	65.78%	17.00%	+48.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	65.78%	18.08%	+47.70%

Frequently Asked Questions

Can I hold both BROS and ^GSPC in my portfolio?

BROS and ^GSPC 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, BROS or ^GSPC?

BROS has higher volatility (14.38%) compared to ^GSPC (4.89%). In terms of maximum drawdown, BROS dropped -70.09% vs ^GSPC's -56.78%.

Which has better risk-adjusted returns?

^GSPC currently has the higher Sharpe Ratio (1.78 vs -0.05), 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.