FWONA vs. SPY

Last updated Jun 25, 2026

FWONA (Formula One Group) 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 10 years, FWONA returned 16.78%/yr vs 15.53%/yr for SPY. At a 0.48 correlation, their price movements are largely independent.

Performance

FWONA vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Formula One Group (FWONA) 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, FWONA achieves a -7.55% return, which is significantly lower than SPY's 8.10% return. Over the past 10 years, FWONA has outperformed SPY with an annualized return of 16.78%, while SPY has yielded a comparatively lower 15.53% annualized return.

FWONA

• 1D: 0.33%
• 1M: 0.88%
• YTD: -7.55%
• 6M: -6.32%
• 1Y: -12.86%
• 3Y*: 8.46%
• 5Y*: 14.70%
• 10Y*: 16.78%

SPY

• 1D: -0.05%
• 1M: -1.41%
• YTD: 8.10%
• 6M: 6.77%
• 1Y: 22.18%
• 3Y*: 20.66%
• 5Y*: 12.96%
• 10Y*: 15.53%

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

FWONA vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FWONA Formula One Group	-7.55%	6.35%	44.95%	13.34%	-9.96%	56.20%	-13.23%	47.31%	-9.17%	4.37%
SPY State Street SPDR S&P 500 ETF	8.10%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Correlation

The correlation between FWONA and SPY is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (10Y) Calculated over the trailing 10-year period	0.44
Correlation (All Time) Calculated using the full available price history since Jan 10, 2013	0.48

Over the past year, the correlation between FWONA and SPY has dropped to 0.25 - well below their long-term average of 0.48, suggesting their price drivers have been diverging.

Return for Risk

FWONA vs. SPY — Risk / Return Rank

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

FWONA

FWONA Risk / Return Rank: 21
FWONA Sharpe Ratio Rank: 19
FWONA Sortino Ratio Rank: 18
FWONA Omega Ratio Rank: 19
FWONA Calmar Ratio Rank: 25
FWONA Martin Ratio Rank: 24

SPY

SPY Risk / Return Rank: 60
SPY Sharpe Ratio Rank: 59
SPY Sortino Ratio Rank: 57
SPY Omega Ratio Rank: 59
SPY Calmar Ratio Rank: 57
SPY Martin Ratio Rank: 67

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.

FWONA vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Formula One Group (FWONA) 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.

	FWONA	SPY	Difference
Sharpe ratio: Return per unit of total volatility	-0.55	1.79	-2.34
Sortino ratio: Return per unit of downside risk	-0.68	2.45	-3.12
Omega ratio: Gain probability vs. loss probability	0.93	1.33	-0.40
Calmar ratio: Return relative to maximum drawdown	-0.52	2.51	-3.02
Martin ratio: Return relative to average drawdown	-0.92	11.15	-12.07

FWONA vs. SPY - Sharpe Ratio Comparison

The current FWONA Sharpe Ratio is -0.55, which is lower than the SPY Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of FWONA 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

FWONA vs. SPY - Drawdown Comparison

The maximum FWONA drawdown since its inception was -60.76%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for FWONA and SPY.

Drawdown Indicators

	FWONA	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-60.76%	-55.19%	-5.57%
Max Drawdown (1Y) Largest decline over 1 year	-24.99%	-8.88%	-16.11%
Max Drawdown (3Y) Largest decline over 3 years	-25.71%	-18.76%	-6.95%
Max Drawdown (5Y) Largest decline over 5 years	-25.71%	-24.50%	-1.21%
Max Drawdown (10Y) Largest decline over 10 years	-60.76%	-33.72%	-27.04%
Current Drawdown Current decline from peak	-16.81%	-3.22%	-13.59%
Average Drawdown Average peak-to-trough decline	-14.13%	-9.03%	-5.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.06%	1.99%	+12.07%

Volatility

FWONA vs. SPY - Volatility Comparison

Formula One Group (FWONA) has a higher volatility of 7.32% compared to State Street SPDR S&P 500 ETF (SPY) at 4.85%. This indicates that FWONA'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

	FWONA	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.32%	4.85%	+2.47%
Volatility (6M) Calculated over the trailing 6-month period	18.01%	9.81%	+8.20%
Volatility (1Y) Calculated over the trailing 1-year period	23.40%	12.47%	+10.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.02%	17.15%	+9.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.48%	17.95%	+14.53%

Dividends

FWONA vs. SPY - Dividend Comparison

FWONA has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.03%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FWONA Formula One Group	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	1.03%	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 FWONA and SPY in my portfolio?

FWONA and SPY have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FWONA or SPY?

FWONA has higher volatility (7.32%) compared to SPY (4.85%). In terms of maximum drawdown, FWONA dropped -60.76% vs SPY's -55.19%.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (1.79 vs -0.55), 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.