BRP vs. SPY

Last updated Jun 4, 2026

BRP (BRP Group, Inc.) 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 5 years, BRP returned -5.87%/yr vs 13.83%/yr for SPY. At a 0.43 correlation, their price movements are largely independent.

Performance

BRP vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BRP Group, Inc. (BRP) 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, BRP achieves a -21.89% return, which is significantly lower than SPY's 10.91% return.

BRP

• 1D: -3.64%
• 1M: -14.57%
• YTD: -21.89%
• 6M: -27.78%
• 1Y: -53.54%
• 3Y*: -4.69%
• 5Y*: -5.87%
• 10Y*: —

SPY

• 1D: -0.70%
• 1M: 5.05%
• YTD: 10.91%
• 6M: 10.91%
• 1Y: 27.98%
• 3Y*: 22.35%
• 5Y*: 13.83%
• 10Y*: 15.49%

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

BRP vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BRP BRP Group, Inc.	-21.89%	-38.00%	61.37%	-4.46%	-30.38%	20.49%	86.73%	-1.95%
SPY State Street SPDR S&P 500 ETF	10.91%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	7.68%

Correlation

The correlation between BRP and SPY is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (All Time) Calculated using the full available price history since Oct 25, 2019	0.43

Over the past year, the correlation between BRP and SPY has dropped to 0.08 - well below their long-term average of 0.43, suggesting their price drivers have been diverging.

Return for Risk

BRP vs. SPY — Risk / Return Rank

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

BRP

BRP Risk / Return Rank: 8
BRP Sharpe Ratio Rank: 6
BRP Sortino Ratio Rank: 6
BRP Omega Ratio Rank: 8
BRP Calmar Ratio Rank: 8
BRP Martin Ratio Rank: 11

SPY

SPY Risk / Return Rank: 70
SPY Sharpe Ratio Rank: 71
SPY Sortino Ratio Rank: 69
SPY Omega Ratio Rank: 70
SPY Calmar Ratio Rank: 62
SPY Martin Ratio Rank: 75

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.

BRP vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BRP Group, Inc. (BRP) 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.

	BRP	SPY	Difference
Sharpe ratio: Return per unit of total volatility	-0.92	2.38	-3.30
Sortino ratio: Return per unit of downside risk	-1.46	3.24	-4.70
Omega ratio: Gain probability vs. loss probability	0.83	1.43	-0.60
Calmar ratio: Return relative to maximum drawdown	-0.85	3.16	-4.02
Martin ratio: Return relative to average drawdown	-1.29	14.72	-16.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BRP vs. SPY - Sharpe Ratio Comparison

The current BRP Sharpe Ratio is -0.92, which is lower than the SPY Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of BRP 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.

Sharpe Ratios by Period

	BRP	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.92	2.38	-3.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.11	0.82	-0.93
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.04	0.59	-0.55

Drawdowns

BRP vs. SPY - Drawdown Comparison

The maximum BRP drawdown since its inception was -70.16%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for BRP and SPY.

Drawdown Indicators

	BRP	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-70.16%	-55.19%	-14.97%
Max Drawdown (1Y) Largest decline over 1 year	-62.95%	-8.88%	-54.07%
Max Drawdown (3Y) Largest decline over 3 years	-70.16%	-18.76%	-51.40%
Max Drawdown (5Y) Largest decline over 5 years	-70.16%	-24.50%	-45.66%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-66.05%	-0.70%	-65.35%
Average Drawdown Average peak-to-trough decline	-28.24%	-9.05%	-19.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	41.66%	1.91%	+39.75%

Volatility

BRP vs. SPY - Volatility Comparison

BRP Group, Inc. (BRP) has a higher volatility of 12.89% compared to State Street SPDR S&P 500 ETF (SPY) at 2.84%. This indicates that BRP'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

	BRP	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.89%	2.84%	+10.05%
Volatility (6M) Calculated over the trailing 6-month period	44.25%	8.90%	+35.35%
Volatility (1Y) Calculated over the trailing 1-year period	58.30%	11.83%	+46.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.49%	17.05%	+34.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.17%	17.94%	+35.23%

Dividends

BRP vs. SPY - Dividend Comparison

BRP has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 0.98%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BRP BRP Group, 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%
SPY State Street SPDR S&P 500 ETF	0.98%	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 BRP and SPY in my portfolio?

BRP and SPY have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BRP or SPY?

BRP has higher volatility (12.89%) compared to SPY (2.84%). In terms of maximum drawdown, BRP dropped -70.16% vs SPY's -55.19%.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (2.38 vs -0.92), 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.