KARO vs. SPY
KARO (Karooooo Ltd.) 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 5 years, KARO returned 8.30%/yr vs 13.05%/yr for SPY. At a 0.24 correlation, their price movements are largely independent.
Performance
KARO vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, KARO achieves a 5.08% return, which is significantly lower than SPY's 8.15% return.
KARO
- 1D
- -0.02%
- 1M
- 0.48%
- YTD
- 5.08%
- 6M
- 1.57%
- 1Y
- 4.78%
- 3Y*
- 29.14%
- 5Y*
- 8.30%
- 10Y*
- —
SPY
- 1D
- -1.45%
- 1M
- -1.36%
- YTD
- 8.15%
- 6M
- 7.20%
- 1Y
- 23.59%
- 3Y*
- 20.68%
- 5Y*
- 13.05%
- 10Y*
- 15.53%
KARO vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
KARO Karooooo Ltd. | 5.08% | 3.48% | 91.47% | 8.00% | -41.49% | 40.62% |
SPY State Street SPDR S&P 500 ETF | 8.15% | 17.72% | 24.89% | 26.18% | -18.18% | 21.04% |
Correlation
The correlation between KARO and SPY is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 2021 | 0.24 |
The correlation between KARO and SPY shifts across timeframes, from 0.24 (all time) to 0.42 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
KARO vs. SPY — Risk / Return Rank
KARO
SPY
KARO vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Karooooo Ltd. (KARO) 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.
| KARO | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.78 | ||
| Sortino ratioReturn per unit of downside risk | -2.13 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.34 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.15 | 2.67 | -2.51 |
| Martin ratioReturn relative to average drawdown | 0.26 | 11.92 | -11.66 |
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Drawdowns
KARO vs. SPY - Drawdown Comparison
The maximum KARO drawdown since its inception was -52.12%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for KARO and SPY.
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Drawdown Indicators
| KARO | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.12% | -55.19% | +3.07% |
Max Drawdown (1Y)Largest decline over 1 year | -31.13% | -8.88% | -22.25% |
Max Drawdown (3Y)Largest decline over 3 years | -32.31% | -18.76% | -13.55% |
Max Drawdown (5Y)Largest decline over 5 years | -51.66% | -24.50% | -27.16% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -22.20% | -3.17% | -19.03% |
Average DrawdownAverage peak-to-trough decline | -25.01% | -9.04% | -15.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.67% | 1.98% | +16.69% |
Volatility
KARO vs. SPY - Volatility Comparison
Karooooo Ltd. (KARO) has a higher volatility of 11.70% compared to State Street SPDR S&P 500 ETF (SPY) at 4.87%. This indicates that KARO'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
| KARO | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.70% | 4.87% | +6.83% |
Volatility (6M)Calculated over the trailing 6-month period | 26.86% | 9.85% | +17.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.28% | 12.50% | +27.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 54.09% | 17.15% | +36.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 55.10% | 17.95% | +37.15% |
Dividends
KARO vs. SPY - Dividend Comparison
KARO's dividend yield for the trailing twelve months is around 2.61%, more than SPY's 1.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KARO Karooooo Ltd. | 2.61% | 2.75% | 2.39% | 3.50% | 2.58% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY State Street SPDR S&P 500 ETF | 1.03% | 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
KARO and SPY have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KARO has higher volatility (11.70%) compared to SPY (4.87%). In terms of maximum drawdown, KARO dropped -52.12% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (1.90 vs 0.12), 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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