CCAP vs. SPY
CCAP (Crescent Capital BDC, 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, CCAP returned 0.97%/yr vs 13.05%/yr for SPY. At a 0.31 correlation, their price movements are largely independent.
Performance
CCAP vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, CCAP achieves a -16.76% return, which is significantly lower than SPY's 8.15% return.
CCAP
- 1D
- 0.76%
- 1M
- -0.62%
- YTD
- -16.76%
- 6M
- -16.31%
- 1Y
- -10.21%
- 3Y*
- 3.52%
- 5Y*
- 0.97%
- 10Y*
- —
SPY
- 1D
- -1.45%
- 1M
- -1.36%
- YTD
- 8.15%
- 6M
- 7.20%
- 1Y
- 23.59%
- 3Y*
- 20.68%
- 5Y*
- 13.05%
- 10Y*
- 15.53%
CCAP vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CCAP Crescent Capital BDC, Inc. | -16.76% | -17.51% | 23.51% | 52.61% | -17.99% | 32.51% | 0.98% |
SPY State Street SPDR S&P 500 ETF | 8.15% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.38% |
Correlation
The correlation between CCAP and SPY is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Feb 3, 2020 | 0.31 |
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Return for Risk
CCAP vs. SPY — Risk / Return Rank
CCAP
SPY
CCAP vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Crescent Capital BDC, Inc. (CCAP) 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.
| CCAP | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.30 | ||
| Sortino ratioReturn per unit of downside risk | -2.97 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.34 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.43 | 2.67 | -3.10 |
| Martin ratioReturn relative to average drawdown | -0.97 | 11.92 | -12.89 |
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Drawdowns
CCAP vs. SPY - Drawdown Comparison
The maximum CCAP drawdown since its inception was -63.68%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for CCAP and SPY.
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Drawdown Indicators
| CCAP | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.68% | -55.19% | -8.49% |
Max Drawdown (1Y)Largest decline over 1 year | -23.77% | -8.88% | -14.89% |
Max Drawdown (3Y)Largest decline over 3 years | -35.30% | -18.76% | -16.54% |
Max Drawdown (5Y)Largest decline over 5 years | -35.30% | -24.50% | -10.80% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -34.01% | -3.17% | -30.84% |
Average DrawdownAverage peak-to-trough decline | -12.94% | -9.04% | -3.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.52% | 1.98% | +8.54% |
Volatility
CCAP vs. SPY - Volatility Comparison
Crescent Capital BDC, Inc. (CCAP) has a higher volatility of 7.43% compared to State Street SPDR S&P 500 ETF (SPY) at 4.87%. This indicates that CCAP'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
| CCAP | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.43% | 4.87% | +2.56% |
Volatility (6M)Calculated over the trailing 6-month period | 20.71% | 9.85% | +10.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.47% | 12.50% | +12.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.26% | 17.15% | +5.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.86% | 17.95% | +15.91% |
Dividends
CCAP vs. SPY - Dividend Comparison
CCAP's dividend yield for the trailing twelve months is around 15.62%, more than SPY's 1.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CCAP Crescent Capital BDC, Inc. | 15.62% | 13.02% | 10.61% | 10.41% | 14.83% | 9.63% | 11.26% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY State Street SPDR S&P 500 ETF | 1.03% | 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
CCAP and SPY have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CCAP has higher volatility (7.43%) compared to SPY (4.87%). In terms of maximum drawdown, CCAP dropped -63.68% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (1.90 vs -0.40), 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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