EVTL vs. SPY

Last updated Jun 23, 2026

EVTL (Vertical Aerospace Ltd.) 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 3 years, EVTL returned -51.47%/yr vs 21.27%/yr for SPY. At a 0.30 correlation, their price movements are largely independent.

Performance

EVTL vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vertical Aerospace Ltd. (EVTL) 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, EVTL achieves a -60.98% return, which is significantly lower than SPY's 9.74% return.

EVTL

• 1D: -3.26%
• 1M: -20.61%
• YTD: -60.98%
• 6M: -63.51%
• 1Y: -60.15%
• 3Y*: -51.47%
• 5Y*: —
• 10Y*: —

SPY

• 1D: -0.31%
• 1M: 0.09%
• YTD: 9.74%
• 6M: 9.27%
• 1Y: 26.65%
• 3Y*: 21.27%
• 5Y*: 13.51%
• 10Y*: 15.70%

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

EVTL vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
EVTL Vertical Aerospace Ltd.	-60.98%	-57.63%	82.85%	-79.71%	-49.63%	-25.06%
SPY State Street SPDR S&P 500 ETF	9.74%	17.72%	24.89%	26.18%	-18.18%	2.86%

Correlation

The correlation between EVTL and SPY is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (All Time) Calculated using the full available price history since Dec 15, 2021	0.30

Over the past year, EVTL and SPY have become more correlated (0.50) than their long-term average of 0.30, meaning their price movements have been converging.

Return for Risk

EVTL vs. SPY — Risk / Return Rank

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

EVTL

EVTL Risk / Return Rank: 13
EVTL Sharpe Ratio Rank: 14
EVTL Sortino Ratio Rank: 16
EVTL Omega Ratio Rank: 18
EVTL Calmar Ratio Rank: 10
EVTL Martin Ratio Rank: 7

SPY

SPY Risk / Return Rank: 68
SPY Sharpe Ratio Rank: 69
SPY Sortino Ratio Rank: 66
SPY Omega Ratio Rank: 68
SPY Calmar Ratio Rank: 63
SPY Martin Ratio Rank: 74

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.

EVTL vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vertical Aerospace Ltd. (EVTL) 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.

	EVTL	SPY	Difference
Sharpe ratio: Return per unit of total volatility	-0.64	2.16	-2.79
Sortino ratio: Return per unit of downside risk	-0.70	2.91	-3.62
Omega ratio: Gain probability vs. loss probability	0.92	1.39	-0.47
Calmar ratio: Return relative to maximum drawdown	-0.83	3.01	-3.85
Martin ratio: Return relative to average drawdown	-1.44	13.54	-14.97

EVTL vs. SPY - Sharpe Ratio Comparison

The current EVTL Sharpe Ratio is -0.64, which is lower than the SPY Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of EVTL 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

EVTL vs. SPY - Drawdown Comparison

The maximum EVTL drawdown since its inception was -98.17%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for EVTL and SPY.

Drawdown Indicators

	EVTL	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-98.17%	-55.19%	-42.98%
Max Drawdown (1Y) Largest decline over 1 year	-72.25%	-8.88%	-63.37%
Max Drawdown (3Y) Largest decline over 3 years	-89.90%	-18.76%	-71.14%
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	-98.12%	-1.75%	-96.37%
Average Drawdown Average peak-to-trough decline	-80.43%	-9.04%	-71.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	41.91%	1.97%	+39.94%

Volatility

EVTL vs. SPY - Volatility Comparison

Vertical Aerospace Ltd. (EVTL) has a higher volatility of 20.05% compared to State Street SPDR S&P 500 ETF (SPY) at 4.64%. This indicates that EVTL'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.

Volatility by Period

	EVTL	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.05%	4.64%	+15.41%
Volatility (6M) Calculated over the trailing 6-month period	61.83%	9.75%	+52.08%
Volatility (1Y) Calculated over the trailing 1-year period	95.14%	12.43%	+82.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	112.31%	17.14%	+95.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	112.31%	17.99%	+94.32%

Dividends

EVTL vs. SPY - Dividend Comparison

EVTL has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.01%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EVTL Vertical Aerospace Ltd.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	1.01%	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 EVTL and SPY in my portfolio?

EVTL and SPY have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EVTL or SPY?

EVTL has higher volatility (20.05%) compared to SPY (4.64%). In terms of maximum drawdown, EVTL dropped -98.17% vs SPY's -55.19%.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (2.16 vs -0.64), 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.