HDPMX vs. SPY
Compare and contrast key facts about Hodges Fund (HDPMX) and State Street SPDR S&P 500 ETF (SPY).
HDPMX is managed by Hodges. It was launched on Oct 9, 1992. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
HDPMX vs. SPY - Performance Comparison
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HDPMX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HDPMX Hodges Fund | -5.28% | 24.06% | 29.32% | 29.81% | -21.80% | 29.50% | 29.58% | 23.02% | -34.39% | 13.87% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, HDPMX achieves a -5.28% return, which is significantly lower than SPY's -4.37% return. Over the past 10 years, HDPMX has underperformed SPY with an annualized return of 12.10%, while SPY has yielded a comparatively higher 13.98% annualized return.
HDPMX
- 1D
- -2.63%
- 1M
- -11.81%
- YTD
- -5.28%
- 6M
- -3.62%
- 1Y
- 26.09%
- 3Y*
- 22.39%
- 5Y*
- 10.51%
- 10Y*
- 12.10%
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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HDPMX vs. SPY - Expense Ratio Comparison
HDPMX has a 1.17% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
HDPMX vs. SPY — Risk / Return Rank
HDPMX
SPY
HDPMX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hodges Fund (HDPMX) 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.
| HDPMX | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.79 | 0.93 | -0.13 |
Sortino ratioReturn per unit of downside risk | 1.27 | 1.45 | -0.18 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.22 | -0.04 |
Calmar ratioReturn relative to maximum drawdown | 1.13 | 1.53 | -0.40 |
Martin ratioReturn relative to average drawdown | 4.90 | 7.30 | -2.40 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HDPMX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.79 | 0.93 | -0.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.36 | 0.69 | -0.33 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.40 | 0.78 | -0.38 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.56 | -0.20 |
Correlation
The correlation between HDPMX and SPY is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
HDPMX vs. SPY - Dividend Comparison
HDPMX's dividend yield for the trailing twelve months is around 10.02%, more than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HDPMX Hodges Fund | 10.02% | 9.50% | 15.93% | 0.72% | 0.49% | 0.00% | 0.00% | 0.00% | 10.67% | 7.26% | 0.00% | 1.04% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
HDPMX vs. SPY - Drawdown Comparison
The maximum HDPMX drawdown since its inception was -69.66%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for HDPMX and SPY.
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Drawdown Indicators
| HDPMX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.66% | -55.19% | -14.47% |
Max Drawdown (1Y)Largest decline over 1 year | -18.36% | -12.05% | -6.31% |
Max Drawdown (5Y)Largest decline over 5 years | -36.68% | -24.50% | -12.18% |
Max Drawdown (10Y)Largest decline over 10 years | -67.16% | -33.72% | -33.44% |
Current DrawdownCurrent decline from peak | -13.05% | -6.24% | -6.81% |
Average DrawdownAverage peak-to-trough decline | -15.82% | -9.09% | -6.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.23% | 2.52% | +1.71% |
Volatility
HDPMX vs. SPY - Volatility Comparison
Hodges Fund (HDPMX) has a higher volatility of 8.64% compared to State Street SPDR S&P 500 ETF (SPY) at 5.31%. This indicates that HDPMX'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.
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Volatility by Period
| HDPMX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.64% | 5.31% | +3.33% |
Volatility (6M)Calculated over the trailing 6-month period | 17.29% | 9.47% | +7.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.62% | 19.05% | +12.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.57% | 17.06% | +12.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.31% | 17.92% | +12.39% |