BUD vs. SPY
BUD (Anheuser-Busch InBev SA/NV) 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, BUD returned -1.70%/yr vs 15.42%/yr for SPY. A 0.50 correlation means they provide meaningful diversification when combined.
Performance
BUD vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, BUD achieves a 31.39% return, which is significantly higher than SPY's 9.07% return. Over the past 10 years, BUD has underperformed SPY with an annualized return of -1.70%, while SPY has yielded a comparatively higher 15.42% annualized return.
BUD
- 1D
- 0.78%
- 1M
- 3.44%
- YTD
- 31.39%
- 6M
- 32.01%
- 1Y
- 17.68%
- 3Y*
- 16.08%
- 5Y*
- 2.63%
- 10Y*
- -1.70%
SPY
- 1D
- 0.54%
- 1M
- -0.08%
- YTD
- 9.07%
- 6M
- 9.42%
- 1Y
- 24.27%
- 3Y*
- 20.86%
- 5Y*
- 13.36%
- 10Y*
- 15.42%
BUD vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BUD Anheuser-Busch InBev SA/NV | 31.39% | 30.33% | -21.37% | 9.04% | 0.09% | -12.66% | -13.97% | 27.69% | -38.79% | 9.62% |
SPY State Street SPDR S&P 500 ETF | 9.07% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Correlation
The correlation between BUD and SPY is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2009 | 0.50 |
Over the past year, the correlation between BUD and SPY has dropped to 0.11 - well below their long-term average of 0.50, suggesting their price drivers have been diverging.
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Return for Risk
BUD vs. SPY — Risk / Return Rank
BUD
SPY
BUD vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Anheuser-Busch InBev SA/NV (BUD) 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.
| BUD | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.31 | ||
| Sortino ratioReturn per unit of downside risk | -1.67 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.36 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.88 | 2.74 | -1.86 |
| Martin ratioReturn relative to average drawdown | 1.66 | 12.39 | -10.73 |
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Drawdowns
BUD vs. SPY - Drawdown Comparison
The maximum BUD drawdown since its inception was -70.02%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for BUD and SPY.
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Drawdown Indicators
| BUD | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.02% | -55.19% | -14.83% |
Max Drawdown (1Y)Largest decline over 1 year | -20.12% | -8.88% | -11.24% |
Max Drawdown (3Y)Largest decline over 3 years | -31.55% | -18.76% | -12.79% |
Max Drawdown (5Y)Largest decline over 5 years | -42.88% | -24.50% | -18.38% |
Max Drawdown (10Y)Largest decline over 10 years | -70.02% | -33.72% | -36.30% |
Current DrawdownCurrent decline from peak | -22.81% | -2.35% | -20.46% |
Average DrawdownAverage peak-to-trough decline | -23.45% | -9.04% | -14.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.86% | 1.97% | +8.89% |
Volatility
BUD vs. SPY - Volatility Comparison
Anheuser-Busch InBev SA/NV (BUD) has a higher volatility of 6.20% compared to State Street SPDR S&P 500 ETF (SPY) at 4.34%. This indicates that BUD'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
| BUD | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.20% | 4.34% | +1.86% |
Volatility (6M)Calculated over the trailing 6-month period | 17.97% | 9.58% | +8.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.38% | 12.29% | +14.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.90% | 17.12% | +7.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.65% | 17.96% | +9.69% |
Dividends
BUD vs. SPY - Dividend Comparison
BUD's dividend yield for the trailing twelve months is around 1.62%, more than SPY's 1.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BUD Anheuser-Busch InBev SA/NV | 1.62% | 1.91% | 1.74% | 1.28% | 0.88% | 0.98% | 0.79% | 2.45% | 5.15% | 3.63% | 5.41% | 3.21% |
SPY State Street SPDR S&P 500 ETF | 1.00% | 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
BUD and SPY have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BUD has higher volatility (6.20%) compared to SPY (4.34%). In terms of maximum drawdown, BUD dropped -70.02% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (1.98 vs 0.67), 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.
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