CWH vs. SPY
CWH (Camping World Holdings, 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, CWH returned -27.26%/yr vs 12.94%/yr for SPY. At a 0.42 correlation, their price movements are largely independent.
Performance
CWH vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, CWH achieves a -36.90% return, which is significantly lower than SPY's 10.45% return.
CWH
- 1D
- -1.29%
- 1M
- -23.06%
- 6M
- -47.97%
- YTD
- -36.90%
- 1Y
- -65.78%
- 3Y*
- -40.76%
- 5Y*
- -27.26%
- 10Y*
- —
SPY
- 1D
- -0.77%
- 1M
- 1.26%
- 6M
- 8.34%
- YTD
- 10.45%
- 1Y
- 21.46%
- 3Y*
- 20.07%
- 5Y*
- 12.94%
- 10Y*
- 15.08%
CWH vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CWH Camping World Holdings, Inc. | -36.90% | -52.24% | -17.93% | 25.13% | -39.63% | 61.88% | 90.21% | 35.35% | -73.62% | 40.00% |
SPY State Street SPDR S&P 500 ETF | 10.45% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Correlation
The correlation between CWH and SPY is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Oct 7, 2016 | 0.42 |
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Return for Risk
CWH vs. SPY — Risk / Return Rank
CWH
SPY
CWH vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Camping World Holdings, Inc. (CWH) 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.
| CWH | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.63 | ||
| Sortino ratioReturn per unit of downside risk | -3.85 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.31 | -0.49 |
| Calmar ratioReturn relative to maximum drawdown | -0.95 | 2.43 | -3.38 |
| Martin ratioReturn relative to average drawdown | -1.48 | 10.57 | -12.05 |
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Drawdowns
CWH vs. SPY - Drawdown Comparison
The maximum CWH drawdown since its inception was -90.83%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for CWH and SPY.
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Drawdown Indicators
| CWH | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.83% | -55.19% | -35.64% |
Max Drawdown (1Y)Largest decline over 1 year | -69.05% | -8.88% | -60.17% |
Max Drawdown (3Y)Largest decline over 3 years | -80.90% | -18.76% | -62.14% |
Max Drawdown (5Y)Largest decline over 5 years | -84.22% | -24.50% | -59.72% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -83.82% | -1.12% | -82.70% |
Average DrawdownAverage peak-to-trough decline | -41.70% | -9.02% | -32.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.54% | 2.03% | +42.51% |
Volatility
CWH vs. SPY - Volatility Comparison
Camping World Holdings, Inc. (CWH) has a higher volatility of 19.04% compared to State Street SPDR S&P 500 ETF (SPY) at 4.26%. This indicates that CWH'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
| CWH | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.04% | 4.26% | +14.78% |
Volatility (6M)Calculated over the trailing 6-month period | 54.64% | 10.01% | +44.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 72.42% | 12.60% | +59.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.47% | 17.17% | +38.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.66% | 17.93% | +44.73% |
Dividends
CWH vs. SPY - Dividend Comparison
CWH's dividend yield for the trailing twelve months is around 4.07%, more than SPY's 1.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CWH Camping World Holdings, Inc. | 4.07% | 5.14% | 2.37% | 5.71% | 11.20% | 4.28% | 5.67% | 4.16% | 5.34% | 1.66% | 0.25% | 0.00% |
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
CWH and SPY have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CWH has higher volatility (19.04%) compared to SPY (4.26%). In terms of maximum drawdown, CWH dropped -90.83% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (1.71 vs -0.91), 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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