CRQSX vs. SPY

Last updated Jun 26, 2026

CRQSX (Catholic Responsible Investments Equity Index Fund) and SPY (State Street SPDR S&P 500 ETF) are both funds - CRQSX is a Large Cap Blend Equities fund managed by Catholic Responsible Investments Funds, while SPY is a S&P 500 fund tracking the S&P 500 Index. Over the past 3 years, CRQSX returned 20.38%/yr vs 20.89%/yr for SPY. With a 0.99 correlation, they move nearly in lockstep. CRQSX charges 0.09%/yr vs 0.09%/yr for SPY.

Performance

CRQSX vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Catholic Responsible Investments Equity Index Fund (CRQSX) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with CRQSX having a 8.13% return and SPY slightly higher at 8.25%.

CRQSX

• 1D: -0.13%
• 1M: -2.28%
• YTD: 8.13%
• 6M: 6.84%
• 1Y: 20.83%
• 3Y*: 20.38%
• 5Y*: —
• 10Y*: —

SPY

• 1D: 0.14%
• 1M: -1.92%
• YTD: 8.25%
• 6M: 6.93%
• 1Y: 22.29%
• 3Y*: 20.89%
• 5Y*: 12.99%
• 10Y*: 15.75%

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

CRQSX vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
CRQSX Catholic Responsible Investments Equity Index Fund	8.13%	16.83%	24.70%	27.55%	-11.69%
SPY State Street SPDR S&P 500 ETF	8.25%	17.72%	24.89%	26.18%	-10.55%

Correlation

The correlation between CRQSX and SPY is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (All Time) Calculated using the full available price history since Jan 26, 2022	0.99

The correlation between CRQSX and SPY has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

Return for Risk

CRQSX vs. SPY — Risk / Return Rank

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

CRQSX

CRQSX Risk / Return Rank: 50
CRQSX Sharpe Ratio Rank: 46
CRQSX Sortino Ratio Rank: 43
CRQSX Omega Ratio Rank: 45
CRQSX Calmar Ratio Rank: 52
CRQSX Martin Ratio Rank: 63

SPY

SPY Risk / Return Rank: 63
SPY Sharpe Ratio Rank: 63
SPY Sortino Ratio Rank: 61
SPY Omega Ratio Rank: 63
SPY Calmar Ratio Rank: 59
SPY Martin Ratio Rank: 70

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.

CRQSX vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Catholic Responsible Investments Equity Index Fund (CRQSX) 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.

	CRQSX	SPY	Difference
Sharpe ratio: Return per unit of total volatility	1.65	1.80	-0.15
Sortino ratio: Return per unit of downside risk	2.27	2.46	-0.19
Omega ratio: Gain probability vs. loss probability	1.30	1.33	-0.03
Calmar ratio: Return relative to maximum drawdown	2.39	2.52	-0.13
Martin ratio: Return relative to average drawdown	10.47	11.15	-0.68

CRQSX vs. SPY - Sharpe Ratio Comparison

The current CRQSX Sharpe Ratio is 1.65, which is comparable to the SPY Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of CRQSX 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.

Drawdowns

CRQSX vs. SPY - Drawdown Comparison

The maximum CRQSX drawdown since its inception was -22.96%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for CRQSX and SPY.

Drawdown Indicators

	CRQSX	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-22.96%	-55.19%	+32.23%
Max Drawdown (1Y) Largest decline over 1 year	-8.71%	-8.88%	+0.17%
Max Drawdown (3Y) Largest decline over 3 years	-18.95%	-18.76%	-0.19%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-3.38%	-3.08%	-0.30%
Average Drawdown Average peak-to-trough decline	-5.22%	-9.03%	+3.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	2.00%	-0.02%

Volatility

CRQSX vs. SPY - Volatility Comparison

Catholic Responsible Investments Equity Index Fund (CRQSX) and State Street SPDR S&P 500 ETF (SPY) have volatilities of 4.97% and 4.79%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CRQSX	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.97%	4.79%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	10.00%	9.80%	+0.20%
Volatility (1Y) Calculated over the trailing 1-year period	12.64%	12.43%	+0.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.87%	17.15%	+0.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.87%	17.95%	-0.08%

CRQSX vs. SPY - Expense Ratio Comparison

CRQSX has a 0.09% expense ratio, which is lower than SPY's 0.09% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

CRQSX vs. SPY - Dividend Comparison

CRQSX's dividend yield for the trailing twelve months is around 3.41%, more than SPY's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CRQSX Catholic Responsible Investments Equity Index Fund	3.41%	3.66%	2.09%	1.34%	1.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	1.02%	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 CRQSX and SPY in my portfolio?

With a correlation of 0.99, CRQSX and SPY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, CRQSX or SPY?

CRQSX has higher volatility (4.97%) compared to SPY (4.79%). In terms of maximum drawdown, CRQSX dropped -22.96% vs SPY's -55.19%.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (1.80 vs 1.65), 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.