DSPIX vs. SPGP
Compare and contrast key facts about BNY Mellon Institutional S&P 500 Stock Index Fund (DSPIX) and Invesco S&P 500 GARP ETF (SPGP).
DSPIX is managed by BNY Mellon. It was launched on Sep 30, 1993. SPGP is a passively managed fund by Invesco that tracks the performance of the S&P 500 GARP Index. It was launched on Jun 16, 2011.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: DSPIX or SPGP.
Key characteristics
| DSPIX | SPGP | |
|---|---|---|
| YTD Return | 20.88% | 7.66% |
| 1Y Return | 31.83% | 15.43% |
| 3Y Return (Ann) | 11.03% | 6.79% |
| 5Y Return (Ann) | 15.53% | 14.38% |
| 10Y Return (Ann) | 13.01% | 13.80% |
| Sharpe Ratio | 2.43 | 0.95 |
| Daily Std Dev | 12.60% | 14.95% |
| Max Drawdown | -55.32% | -42.08% |
| Current Drawdown | 0.00% | -1.58% |
Correlation
The correlation between DSPIX and SPGP is 0.84, 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.
Performance
DSPIX vs. SPGP - Performance Comparison
In the year-to-date period, DSPIX achieves a 20.88% return, which is significantly higher than SPGP's 7.66% return. Over the past 10 years, DSPIX has underperformed SPGP with an annualized return of 13.01%, while SPGP has yielded a comparatively higher 13.80% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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DSPIX vs. SPGP - Expense Ratio Comparison
DSPIX has a 0.20% expense ratio, which is lower than SPGP's 0.36% expense ratio.
Risk-Adjusted Performance
DSPIX vs. SPGP - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Institutional S&P 500 Stock Index Fund (DSPIX) and Invesco S&P 500 GARP ETF (SPGP). 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.
Dividends
DSPIX vs. SPGP - Dividend Comparison
DSPIX's dividend yield for the trailing twelve months is around 22.82%, more than SPGP's 1.07% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DSPIX BNY Mellon Institutional S&P 500 Stock Index Fund | 22.82% | 27.46% | 18.33% | 12.91% | 4.64% | 5.01% | 6.33% | 2.53% | 2.91% | 2.63% | 1.70% | 1.71% |
SPGP Invesco S&P 500 GARP ETF | 1.07% | 1.24% | 1.22% | 0.69% | 1.10% | 0.86% | 0.95% | 0.68% | 0.89% | 1.12% | 1.52% | 2.11% |
Drawdowns
DSPIX vs. SPGP - Drawdown Comparison
The maximum DSPIX drawdown since its inception was -55.32%, which is greater than SPGP's maximum drawdown of -42.08%. Use the drawdown chart below to compare losses from any high point for DSPIX and SPGP. For additional features, visit the drawdowns tool.
Volatility
DSPIX vs. SPGP - Volatility Comparison
The current volatility for BNY Mellon Institutional S&P 500 Stock Index Fund (DSPIX) is 4.33%, while Invesco S&P 500 GARP ETF (SPGP) has a volatility of 5.02%. This indicates that DSPIX experiences smaller price fluctuations and is considered to be less risky than SPGP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.