CGVIX vs. SPY
Compare and contrast key facts about Causeway Global Value Fund (CGVIX) and State Street SPDR S&P 500 ETF (SPY).
CGVIX is managed by Causeway. It was launched on Apr 28, 2008. 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
CGVIX vs. SPY - Performance Comparison
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CGVIX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CGVIX Causeway Global Value Fund | -8.49% | 34.03% | 12.85% | 29.80% | -12.06% | 16.44% | 7.39% | 21.26% | -11.23% | 20.22% |
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, CGVIX achieves a -8.49% return, which is significantly lower than SPY's -4.37% return. Over the past 10 years, CGVIX has underperformed SPY with an annualized return of 10.95%, while SPY has yielded a comparatively higher 13.98% annualized return.
CGVIX
- 1D
- 0.51%
- 1M
- -13.93%
- YTD
- -8.49%
- 6M
- -1.72%
- 1Y
- 18.74%
- 3Y*
- 16.60%
- 5Y*
- 10.74%
- 10Y*
- 10.95%
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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CGVIX vs. SPY - Expense Ratio Comparison
CGVIX has a 0.85% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
CGVIX vs. SPY — Risk / Return Rank
CGVIX
SPY
CGVIX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Causeway Global Value Fund (CGVIX) 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.
| CGVIX | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.94 | 0.93 | +0.01 |
Sortino ratioReturn per unit of downside risk | 1.41 | 1.45 | -0.05 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.22 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.02 | 1.53 | -0.50 |
Martin ratioReturn relative to average drawdown | 3.81 | 7.30 | -3.48 |
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
| CGVIX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.94 | 0.93 | +0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.49 | 0.69 | -0.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | 0.78 | -0.28 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 0.56 | -0.24 |
Correlation
The correlation between CGVIX and SPY is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
CGVIX vs. SPY - Dividend Comparison
CGVIX's dividend yield for the trailing twelve months is around 10.78%, more than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CGVIX Causeway Global Value Fund | 10.78% | 9.86% | 24.61% | 2.36% | 0.88% | 3.30% | 1.36% | 4.77% | 18.28% | 8.49% | 1.37% | 3.26% |
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
CGVIX vs. SPY - Drawdown Comparison
The maximum CGVIX drawdown since its inception was -62.29%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for CGVIX and SPY.
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Drawdown Indicators
| CGVIX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.29% | -55.19% | -7.10% |
Max Drawdown (1Y)Largest decline over 1 year | -15.00% | -12.05% | -2.95% |
Max Drawdown (5Y)Largest decline over 5 years | -29.26% | -24.50% | -4.76% |
Max Drawdown (10Y)Largest decline over 10 years | -44.30% | -33.72% | -10.58% |
Current DrawdownCurrent decline from peak | -14.57% | -6.24% | -8.33% |
Average DrawdownAverage peak-to-trough decline | -10.20% | -9.09% | -1.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.04% | 2.52% | +1.52% |
Volatility
CGVIX vs. SPY - Volatility Comparison
Causeway Global Value Fund (CGVIX) has a higher volatility of 6.55% compared to State Street SPDR S&P 500 ETF (SPY) at 5.31%. This indicates that CGVIX'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
| CGVIX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.55% | 5.31% | +1.24% |
Volatility (6M)Calculated over the trailing 6-month period | 11.08% | 9.47% | +1.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.16% | 19.05% | +0.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.12% | 17.06% | +5.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.93% | 17.92% | +4.01% |