GTLS vs. SPY

Last updated Jun 26, 2026

GTLS (Chart Industries, Inc.) 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, GTLS returned 25.20%/yr vs 15.75%/yr for SPY. A 0.53 correlation means they provide meaningful diversification when combined.

Performance

GTLS vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Chart Industries, Inc. (GTLS) 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, GTLS achieves a 1.27% return, which is significantly lower than SPY's 8.25% return. Over the past 10 years, GTLS has outperformed SPY with an annualized return of 25.20%, while SPY has yielded a comparatively lower 15.75% annualized return.

GTLS

• 1D: 0.07%
• 1M: 0.48%
• YTD: 1.27%
• 6M: 1.40%
• 1Y: 38.11%
• 3Y*: 10.96%
• 5Y*: 8.63%
• 10Y*: 25.20%

SPY

• 1D: 0.14%
• 1M: -1.92%
• YTD: 8.25%
• 6M: 6.93%
• 1Y: 22.29%
• 3Y*: 20.89%
• 5Y*: 12.99%
• 10Y*: 15.75%

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

GTLS vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GTLS Chart Industries, Inc.	1.27%	8.06%	39.98%	18.31%	-27.75%	35.40%	74.53%	3.78%	38.78%	30.09%
SPY State Street SPDR S&P 500 ETF	8.25%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Correlation

The correlation between GTLS and SPY is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (10Y) Calculated over the trailing 10-year period	0.50
Correlation (All Time) Calculated using the full available price history since Jul 26, 2006	0.53

Over the past year, the correlation between GTLS and SPY has dropped to 0.29 - well below their long-term average of 0.53, suggesting their price drivers have been diverging.

Return for Risk

GTLS vs. SPY — Risk / Return Rank

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

GTLS

GTLS Risk / Return Rank: 96
GTLS Sharpe Ratio Rank: 88
GTLS Sortino Ratio Rank: 98
GTLS Omega Ratio Rank: 99
GTLS Calmar Ratio Rank: 95
GTLS Martin Ratio Rank: 99

SPY

SPY Risk / Return Rank: 63
SPY Sharpe Ratio Rank: 63
SPY Sortino Ratio Rank: 61
SPY Omega Ratio Rank: 63
SPY Calmar Ratio Rank: 59
SPY Martin Ratio Rank: 70

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.

GTLS vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Chart Industries, Inc. (GTLS) 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.

	GTLS	SPY	Difference
Sharpe ratio: Return per unit of total volatility	1.89	1.80	+0.09
Sortino ratio: Return per unit of downside risk	4.82	2.46	+2.36
Omega ratio: Gain probability vs. loss probability	2.29	1.33	+0.96
Calmar ratio: Return relative to maximum drawdown	6.64	2.52	+4.12
Martin ratio: Return relative to average drawdown	44.28	11.15	+33.13

GTLS vs. SPY - Sharpe Ratio Comparison

The current GTLS Sharpe Ratio is 1.89, which is comparable to the SPY Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of GTLS 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

GTLS vs. SPY - Drawdown Comparison

The maximum GTLS drawdown since its inception was -90.06%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for GTLS and SPY.

Drawdown Indicators

	GTLS	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-90.06%	-55.19%	-34.87%
Max Drawdown (1Y) Largest decline over 1 year	-5.77%	-8.88%	+3.11%
Max Drawdown (3Y) Largest decline over 3 years	-47.30%	-18.76%	-28.54%
Max Drawdown (5Y) Largest decline over 5 years	-57.01%	-24.50%	-32.51%
Max Drawdown (10Y) Largest decline over 10 years	-82.56%	-33.72%	-48.84%
Current Drawdown Current decline from peak	-12.79%	-3.08%	-9.71%
Average Drawdown Average peak-to-trough decline	-38.77%	-9.03%	-29.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.86%	2.00%	-1.14%

Volatility

GTLS vs. SPY - Volatility Comparison

The current volatility for Chart Industries, Inc. (GTLS) is 1.15%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 4.79%. This indicates that GTLS 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

	GTLS	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.15%	4.79%	-3.64%
Volatility (6M) Calculated over the trailing 6-month period	1.69%	9.80%	-8.11%
Volatility (1Y) Calculated over the trailing 1-year period	20.33%	12.43%	+7.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.21%	17.15%	+35.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.70%	17.95%	+35.75%

Dividends

GTLS vs. SPY - Dividend Comparison

GTLS has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.02%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GTLS Chart Industries, Inc.	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	1.02%	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 GTLS and SPY in my portfolio?

GTLS and SPY have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GTLS or SPY?

SPY has higher volatility (4.79%) compared to GTLS (1.15%). In terms of maximum drawdown, GTLS dropped -90.06% vs SPY's -55.19%.

Which has better risk-adjusted returns?

GTLS currently has the higher Sharpe Ratio (1.89 vs 1.80), 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.