HRB vs. SPY
HRB (H&R Block, 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, HRB returned 10.77%/yr vs 15.07%/yr for SPY. Their 0.41 correlation means their historical movements had little consistent relationship.
Performance
HRB vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, HRB achieves a 3.52% return, which is significantly lower than SPY's 10.13% return. Over the past 10 years, HRB has underperformed SPY with an annualized return of 10.77%, while SPY has yielded a comparatively higher 15.07% annualized return.
HRB
- 1D
- -0.59%
- 1M
- 9.97%
- 6M
- 14.36%
- YTD
- 3.52%
- 1Y
- -15.67%
- 3Y*
- 12.84%
- 5Y*
- 16.21%
- 10Y*
- 10.77%
- ALL TIME*
- 10.27%
SPY
- 1D
- 0.72%
- 1M
- 0.30%
- 6M
- 8.53%
- YTD
- 10.13%
- 1Y
- 21.49%
- 3Y*
- 19.32%
- 5Y*
- 12.76%
- 10Y*
- 15.07%
- ALL TIME*
- 10.79%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $79.64M | $78.55M | $89.93M | |
| $37.27B | $35.99B | $39.23B |
HRB vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HRB H&R Block, Inc. | 3.52% | -14.88% | 12.03% | 36.87% | 59.94% | 55.43% | -27.97% | -3.55% | 0.49% | 18.22% |
SPY State Street SPDR S&P 500 ETF | 10.13% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Correlation
The correlation between HRB and SPY is -0.11, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.11 |
Correlation (3Y) Balances recent behavior with more history. | 0.15 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.28 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.33 |
Correlation (All Time) Calculated using the full available price history since Jan 29, 1993 | 0.41 |
The correlation between HRB and SPY shifts across timeframes, from -0.11 (1 year) to 0.41 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HRB vs. SPY — Risk / Return Rank
HRB
SPY
HRB vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for H&R Block, Inc. (HRB) 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.
| HRB | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.88 | ||
| Sortino ratioReturn per unit of downside risk | -2.41 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.27 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.32 | 2.20 | -2.53 |
| Martin ratioReturn relative to average drawdown | -0.56 | 9.40 | -9.96 |
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Drawdowns
HRB vs. SPY - Drawdown Comparison
The maximum HRB drawdown since its inception was -62.08%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for HRB and SPY.
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Drawdown Indicators
| HRB | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.08% | -55.19% | -6.89% |
Max Drawdown (1Y)Largest decline over 1 year | -47.86% | -8.88% | -38.98% |
Max Drawdown (3Y)Largest decline over 3 years | -55.54% | -18.76% | -36.78% |
Max Drawdown (5Y)Largest decline over 5 years | -55.54% | -24.50% | -31.04% |
Max Drawdown (10Y)Largest decline over 10 years | -57.72% | -33.72% | -24.00% |
Current DrawdownCurrent decline from peak | -29.22% | -1.40% | -27.82% |
Average DrawdownAverage peak-to-trough decline | -18.70% | -9.01% | -9.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.50% | 2.08% | +25.42% |
Volatility
HRB vs. SPY - Volatility Comparison
H&R Block, Inc. (HRB) has a higher volatility of 13.01% compared to State Street SPDR S&P 500 ETF (SPY) at 3.58%. This indicates that HRB'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
| HRB | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.01% | 3.58% | +9.43% |
Volatility (6M)Calculated over the trailing 6-month period | 37.36% | 10.14% | +27.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.21% | 12.89% | +30.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.50% | 17.18% | +16.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.07% | 17.95% | +18.12% |
Dividends
HRB vs. SPY - Dividend Comparison
HRB's dividend yield for the trailing twelve months is around 3.82%, more than SPY's 1.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HRB H&R Block, Inc. | 3.82% | 3.65% | 2.63% | 2.52% | 3.07% | 4.54% | 6.56% | 4.39% | 3.90% | 3.59% | 3.74% | 2.40% |
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
HRB and SPY have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HRB has higher volatility (13.01%) compared to SPY (3.58%). In terms of maximum drawdown, HRB dropped -62.08% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (1.52 vs -0.36), 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.
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