DHI vs. SPYG

Last updated Jun 24, 2026

DHI (D.R. Horton, Inc.) is a stock, while SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) is S&P 500 fund tracking the S&P 500 Growth Index. Over the past 10 years, DHI returned 19.11%/yr vs 18.05%/yr for SPYG. At a 0.47 correlation, their price movements are largely independent.

Performance

DHI vs. SPYG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in D.R. Horton, Inc. (DHI) and State Street SPDR Portfolio S&P 500 Growth ETF (SPYG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with DHI having a 9.00% return and SPYG slightly lower at 8.70%. Over the past 10 years, DHI has outperformed SPYG with an annualized return of 19.11%, while SPYG has yielded a comparatively lower 18.05% annualized return.

DHI

• 1D: 0.09%
• 1M: 8.59%
• YTD: 9.00%
• 6M: 8.67%
• 1Y: 22.72%
• 3Y*: 10.14%
• 5Y*: 12.96%
• 10Y*: 19.11%

SPYG

• 1D: -2.40%
• 1M: -2.07%
• YTD: 8.70%
• 6M: 7.46%
• 1Y: 26.87%
• 3Y*: 25.48%
• 5Y*: 14.11%
• 10Y*: 18.05%

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

DHI vs. SPYG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DHI D.R. Horton, Inc.	9.00%	4.24%	-7.24%	72.07%	-16.83%	58.73%	32.23%	54.29%	-31.26%	89.06%
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	8.70%	22.09%	35.99%	30.02%	-29.41%	32.01%	33.46%	30.84%	-0.12%	27.24%

Correlation

The correlation between DHI and SPYG is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.40
Correlation (10Y) Calculated over the trailing 10-year period	0.41
Correlation (All Time) Calculated using the full available price history since Oct 2, 2000	0.47

Over the past year, the correlation between DHI and SPYG has dropped to 0.10 - well below their long-term average of 0.47, suggesting their price drivers have been diverging.

Return for Risk

DHI vs. SPYG — Risk / Return Rank

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

DHI

DHI Risk / Return Rank: 59
DHI Sharpe Ratio Rank: 62
DHI Sortino Ratio Rank: 61
DHI Omega Ratio Rank: 57
DHI Calmar Ratio Rank: 60
DHI Martin Ratio Rank: 57

SPYG

SPYG Risk / Return Rank: 45
SPYG Sharpe Ratio Rank: 47
SPYG Sortino Ratio Rank: 44
SPYG Omega Ratio Rank: 44
SPYG Calmar Ratio Rank: 41
SPYG Martin Ratio Rank: 48

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.

DHI vs. SPYG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for D.R. Horton, Inc. (DHI) and State Street SPDR Portfolio S&P 500 Growth ETF (SPYG). 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.

	DHI	SPYG	Difference
Sharpe ratio: Return per unit of total volatility	0.59	1.57	-0.98
Sortino ratio: Return per unit of downside risk	1.24	2.17	-0.92
Omega ratio: Gain probability vs. loss probability	1.14	1.28	-0.14
Calmar ratio: Return relative to maximum drawdown	0.83	1.96	-1.13
Martin ratio: Return relative to average drawdown	1.44	7.79	-6.36

DHI vs. SPYG - Sharpe Ratio Comparison

The current DHI Sharpe Ratio is 0.59, which is lower than the SPYG Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of DHI and SPYG, 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

DHI vs. SPYG - Drawdown Comparison

The maximum DHI drawdown since its inception was -88.84%, which is greater than SPYG's maximum drawdown of -67.63%. Use the drawdown chart below to compare losses from any high point for DHI and SPYG.

Drawdown Indicators

	DHI	SPYG	Difference
Max Drawdown Largest peak-to-trough decline	-88.84%	-67.63%	-21.21%
Max Drawdown (1Y) Largest decline over 1 year	-27.56%	-13.76%	-13.80%
Max Drawdown (3Y) Largest decline over 3 years	-41.28%	-22.14%	-19.14%
Max Drawdown (5Y) Largest decline over 5 years	-44.45%	-32.67%	-11.78%
Max Drawdown (10Y) Largest decline over 10 years	-53.62%	-32.67%	-20.95%
Current Drawdown Current decline from peak	-19.19%	-5.52%	-13.67%
Average Drawdown Average peak-to-trough decline	-27.90%	-24.28%	-3.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.86%	3.46%	+12.40%

Volatility

DHI vs. SPYG - Volatility Comparison

D.R. Horton, Inc. (DHI) has a higher volatility of 9.54% compared to State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) at 7.26%. This indicates that DHI's price experiences larger fluctuations and is considered to be riskier than SPYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DHI	SPYG	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.54%	7.26%	+2.28%
Volatility (6M) Calculated over the trailing 6-month period	25.16%	13.90%	+11.26%
Volatility (1Y) Calculated over the trailing 1-year period	39.05%	17.26%	+21.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.49%	21.36%	+14.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.82%	20.73%	+15.09%

Dividends

DHI vs. SPYG - Dividend Comparison

DHI's dividend yield for the trailing twelve months is around 1.12%, more than SPYG's 0.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DHI D.R. Horton, Inc.	1.12%	1.15%	0.93%	0.69%	1.04%	0.76%	1.05%	1.18%	1.51%	0.83%	1.24%	0.84%
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	0.50%	0.52%	0.60%	1.15%	1.03%	0.62%	0.90%	1.37%	1.51%	1.41%	1.55%	1.57%

Frequently Asked Questions

Can I hold both DHI and SPYG in my portfolio?

DHI and SPYG have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DHI or SPYG?

DHI has higher volatility (9.54%) compared to SPYG (7.26%). In terms of maximum drawdown, DHI dropped -88.84% vs SPYG's -67.63%.

Which has better risk-adjusted returns?

SPYG currently has the higher Sharpe Ratio (1.57 vs 0.59), 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.