ETIRX vs. SPY

Last updated Jun 3, 2026

ETIRX (Eventide Core Bond Fund) and SPY (State Street SPDR S&P 500 ETF) are both funds - ETIRX is a Intermediate Core Bond fund managed by Eventide Funds, while SPY is a S&P 500 fund tracking the S&P 500 Index. Over the past 5 years, ETIRX returned -0.30%/yr vs 14.20%/yr for SPY. At a 0.14 correlation, their price movements are largely independent. ETIRX charges 0.58%/yr vs 0.09%/yr for SPY.

Performance

ETIRX vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eventide Core Bond Fund (ETIRX) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETIRX achieves a 0.21% return, which is significantly lower than SPY's 11.69% return.

ETIRX

• 1D: -0.12%
• 1M: -0.00%
• YTD: 0.21%
• 6M: 0.43%
• 1Y: 5.75%
• 3Y*: 3.71%
• 5Y*: -0.30%
• 10Y*: —

SPY

• 1D: 0.14%
• 1M: 5.40%
• YTD: 11.69%
• 6M: 12.09%
• 1Y: 29.62%
• 3Y*: 22.64%
• 5Y*: 14.20%
• 10Y*: 15.57%

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

ETIRX vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
ETIRX Eventide Core Bond Fund	0.21%	7.49%	0.40%	5.03%	-13.24%	-2.49%	-0.29%
SPY State Street SPDR S&P 500 ETF	11.69%	17.72%	24.89%	26.18%	-18.18%	28.73%	15.45%

Correlation

The correlation between ETIRX and SPY is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (All Time) Calculated using the full available price history since Aug 3, 2020	0.14

Over the past year, ETIRX and SPY have become more correlated (0.35) than their long-term average of 0.14, meaning their price movements have been converging.

Return for Risk

ETIRX vs. SPY — Risk / Return Rank

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

ETIRX

ETIRX Risk / Return Rank: 26
ETIRX Sharpe Ratio Rank: 25
ETIRX Sortino Ratio Rank: 26
ETIRX Omega Ratio Rank: 25
ETIRX Calmar Ratio Rank: 27
ETIRX Martin Ratio Rank: 25

SPY

SPY Risk / Return Rank: 75
SPY Sharpe Ratio Rank: 77
SPY Sortino Ratio Rank: 75
SPY Omega Ratio Rank: 76
SPY Calmar Ratio Rank: 68
SPY Martin Ratio Rank: 80

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.

ETIRX vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eventide Core Bond Fund (ETIRX) 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.

	ETIRX	SPY	Difference
Sharpe ratio Return per unit of total volatility	1.45	2.52	-1.07
Sortino ratio Return per unit of downside risk	2.15	3.42	-1.26
Omega ratio Gain probability vs. loss probability	1.26	1.46	-0.19
Calmar ratio Return relative to maximum drawdown	1.96	3.42	-1.46
Martin ratio Return relative to average drawdown	6.35	15.93	-9.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ETIRX vs. SPY - Sharpe Ratio Comparison

The current ETIRX Sharpe Ratio is 1.45, which is lower than the SPY Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of ETIRX 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.

Sharpe Ratios by Period

	ETIRX	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.45	2.52	-1.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.05	0.84	-0.89
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.14	0.59	-0.73

Drawdowns

ETIRX vs. SPY - Drawdown Comparison

The maximum ETIRX drawdown since its inception was -19.29%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for ETIRX and SPY.

Drawdown Indicators

	ETIRX	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-19.29%	-55.19%	+35.90%
Max Drawdown (1Y) Largest decline over 1 year	-2.87%	-8.88%	+6.01%
Max Drawdown (3Y) Largest decline over 3 years	-6.53%	-18.76%	+12.23%
Max Drawdown (5Y) Largest decline over 5 years	-18.37%	-24.50%	+6.13%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-4.18%	0.00%	-4.18%
Average Drawdown Average peak-to-trough decline	-8.58%	-9.05%	+0.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.89%	1.91%	-1.02%

Volatility

ETIRX vs. SPY - Volatility Comparison

The current volatility for Eventide Core Bond Fund (ETIRX) is 1.64%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 2.75%. This indicates that ETIRX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETIRX	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.64%	2.75%	-1.11%
Volatility (6M) Calculated over the trailing 6-month period	2.82%	8.89%	-6.07%
Volatility (1Y) Calculated over the trailing 1-year period	3.81%	11.81%	-8.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.52%	17.05%	-11.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.24%	17.94%	-12.70%

ETIRX vs. SPY - Expense Ratio Comparison

ETIRX has a 0.58% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

ETIRX vs. SPY - Dividend Comparison

ETIRX's dividend yield for the trailing twelve months is around 4.15%, more than SPY's 0.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ETIRX Eventide Core Bond Fund	4.15%	4.16%	2.78%	2.79%	2.32%	1.39%	0.40%	0.00%	0.00%	0.00%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	0.97%	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 ETIRX and SPY in my portfolio?

ETIRX and SPY have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ETIRX or SPY?

SPY has higher volatility (2.75%) compared to ETIRX (1.64%). In terms of maximum drawdown, ETIRX dropped -19.29% vs SPY's -55.19%.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (2.52 vs 1.45), 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.