G vs. SPY

Last updated Jun 23, 2026

G (Genpact Limited) 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, G returned 1.86%/yr vs 15.70%/yr for SPY. A 0.52 correlation means they provide meaningful diversification when combined.

Performance

G vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Genpact Limited (G) 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, G achieves a -39.27% return, which is significantly lower than SPY's 9.74% return. Over the past 10 years, G has underperformed SPY with an annualized return of 1.86%, while SPY has yielded a comparatively higher 15.70% annualized return.

G

• 1D: -0.50%
• 1M: -11.40%
• YTD: -39.27%
• 6M: -41.42%
• 1Y: -29.57%
• 3Y*: -7.05%
• 5Y*: -7.68%
• 10Y*: 1.86%

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)

G vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
G Genpact Limited	-39.27%	10.56%	25.78%	-23.98%	-11.74%	29.51%	-0.93%	57.66%	-14.12%	31.54%
SPY State Street SPDR S&P 500 ETF	9.74%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Correlation

The correlation between G and SPY is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (10Y) Calculated over the trailing 10-year period	0.55
Correlation (All Time) Calculated using the full available price history since Aug 2, 2007	0.52

Over the past year, the correlation between G and SPY has dropped to 0.21 - well below their long-term average of 0.52, suggesting their price drivers have been diverging.

Return for Risk

G vs. SPY — Risk / Return Rank

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

G

G Risk / Return Rank: 9
G Sharpe Ratio Rank: 8
G Sortino Ratio Rank: 10
G Omega Ratio Rank: 10
G Calmar Ratio Rank: 15
G Martin Ratio Rank: 3

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.

G vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Genpact Limited (G) 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.

	G	SPY	Difference
Sharpe ratio: Return per unit of total volatility	-0.84	2.16	-2.99
Sortino ratio: Return per unit of downside risk	-1.17	2.91	-4.08
Omega ratio: Gain probability vs. loss probability	0.85	1.39	-0.54
Calmar ratio: Return relative to maximum drawdown	-0.72	3.01	-3.73
Martin ratio: Return relative to average drawdown	-1.67	13.54	-15.20

G vs. SPY - Sharpe Ratio Comparison

The current G Sharpe Ratio is -0.84, which is lower than the SPY Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of G 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

G vs. SPY - Drawdown Comparison

The maximum G drawdown since its inception was -64.14%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for G and SPY.

Drawdown Indicators

	G	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-64.14%	-55.19%	-8.95%
Max Drawdown (1Y) Largest decline over 1 year	-41.42%	-8.88%	-32.54%
Max Drawdown (3Y) Largest decline over 3 years	-48.07%	-18.76%	-29.31%
Max Drawdown (5Y) Largest decline over 5 years	-48.07%	-24.50%	-23.57%
Max Drawdown (10Y) Largest decline over 10 years	-49.47%	-33.72%	-15.75%
Current Drawdown Current decline from peak	-48.07%	-1.75%	-46.32%
Average Drawdown Average peak-to-trough decline	-15.56%	-9.04%	-6.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.74%	1.97%	+15.77%

Volatility

G vs. SPY - Volatility Comparison

Genpact Limited (G) has a higher volatility of 11.70% compared to State Street SPDR S&P 500 ETF (SPY) at 4.64%. This indicates that G'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

	G	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.70%	4.64%	+7.06%
Volatility (6M) Calculated over the trailing 6-month period	28.06%	9.75%	+18.31%
Volatility (1Y) Calculated over the trailing 1-year period	35.57%	12.43%	+23.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.89%	17.14%	+11.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.26%	17.99%	+10.27%

Dividends

G vs. SPY - Dividend Comparison

G's dividend yield for the trailing twelve months is around 2.54%, more than SPY's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
G Genpact Limited	2.54%	1.45%	1.42%	1.58%	1.08%	0.81%	0.94%	0.81%	1.11%	0.76%	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 G and SPY in my portfolio?

G and SPY have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, G or SPY?

G has higher volatility (11.70%) compared to SPY (4.64%). In terms of maximum drawdown, G dropped -64.14% vs SPY's -55.19%.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (2.16 vs -0.84), 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.