HICOX vs. SPY
Compare and contrast key facts about Colorado Bond Shares A Tax Exempt Fund (HICOX) and SPDR S&P 500 ETF (SPY).
HICOX is managed by Freedom Funds. It was launched on Jun 3, 1987. 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.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: HICOX or SPY.
Key characteristics
| HICOX | SPY | |
|---|---|---|
| YTD Return | 6.98% | 27.16% |
| 1Y Return | 12.23% | 37.73% |
| 3Y Return (Ann) | 3.31% | 10.28% |
| 5Y Return (Ann) | 3.94% | 15.97% |
| 10Y Return (Ann) | 4.20% | 13.38% |
| Sharpe Ratio | 3.95 | 3.25 |
| Sortino Ratio | 6.52 | 4.32 |
| Omega Ratio | 2.08 | 1.61 |
| Calmar Ratio | 4.96 | 4.74 |
| Martin Ratio | 28.43 | 21.51 |
| Ulcer Index | 0.43% | 1.85% |
| Daily Std Dev | 3.10% | 12.20% |
| Max Drawdown | -8.07% | -55.19% |
| Current Drawdown | -0.33% | 0.00% |
Correlation
The correlation between HICOX and SPY is -0.03. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Performance
HICOX vs. SPY - Performance Comparison
In the year-to-date period, HICOX achieves a 6.98% return, which is significantly lower than SPY's 27.16% return. Over the past 10 years, HICOX has underperformed SPY with an annualized return of 4.20%, while SPY has yielded a comparatively higher 13.38% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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HICOX vs. SPY - Expense Ratio Comparison
HICOX has a 0.55% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
HICOX vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Colorado Bond Shares A Tax Exempt Fund (HICOX) and 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.
Dividends
HICOX vs. SPY - Dividend Comparison
HICOX's dividend yield for the trailing twelve months is around 4.99%, more than SPY's 1.17% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HICOX Colorado Bond Shares A Tax Exempt Fund | 4.99% | 4.97% | 4.43% | 3.84% | 4.00% | 4.07% | 4.03% | 4.69% | 4.73% | 4.13% | 4.79% | 4.47% |
SPY SPDR S&P 500 ETF | 1.17% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
HICOX vs. SPY - Drawdown Comparison
The maximum HICOX drawdown since its inception was -8.07%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for HICOX and SPY. For additional features, visit the drawdowns tool.
Volatility
HICOX vs. SPY - Volatility Comparison
The current volatility for Colorado Bond Shares A Tax Exempt Fund (HICOX) is 1.42%, while SPDR S&P 500 ETF (SPY) has a volatility of 3.92%. This indicates that HICOX 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.