KEYS vs. SPY

Last updated Apr 1, 2026

Compare and contrast key facts about Keysight Technologies, Inc. (KEYS) and State Street SPDR S&P 500 ETF (SPY).

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

KEYS vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Keysight Technologies, Inc. (KEYS) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

KEYS vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KEYS Keysight Technologies, Inc.	38.97%	26.50%	0.97%	-7.00%	-17.16%	56.34%	28.71%	65.32%	49.23%	13.75%
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, KEYS achieves a 38.97% return, which is significantly higher than SPY's -4.37% return. Over the past 10 years, KEYS has outperformed SPY with an annualized return of 26.08%, while SPY has yielded a comparatively lower 13.98% annualized return.

KEYS

• 1D: 4.81%
• 1M: -8.12%
• YTD: 38.97%
• 6M: 61.43%
• 1Y: 88.54%
• 3Y*: 20.48%
• 5Y*: 14.45%
• 10Y*: 26.08%

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%

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

Return for Risk

KEYS vs. SPY — Risk / Return Rank

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

KEYS

KEYS Risk / Return Rank: 93
KEYS Sharpe Ratio Rank: 92
KEYS Sortino Ratio Rank: 92
KEYS Omega Ratio Rank: 93
KEYS Calmar Ratio Rank: 95
KEYS Martin Ratio Rank: 96

SPY

SPY Risk / Return Rank: 64
SPY Sharpe Ratio Rank: 56
SPY Sortino Ratio Rank: 60
SPY Omega Ratio Rank: 65
SPY Calmar Ratio Rank: 65
SPY Martin Ratio Rank: 75

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.

KEYS vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Keysight Technologies, Inc. (KEYS) 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.

	KEYS	SPY	Difference
Sharpe ratio Return per unit of total volatility	2.14	0.93	+1.21
Sortino ratio Return per unit of downside risk	3.05	1.45	+1.60
Omega ratio Gain probability vs. loss probability	1.44	1.22	+0.22
Calmar ratio Return relative to maximum drawdown	5.40	1.53	+3.87
Martin ratio Return relative to average drawdown	17.83	7.30	+10.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KEYS vs. SPY - Sharpe Ratio Comparison

The current KEYS Sharpe Ratio is 2.14, which is higher than the SPY Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of KEYS and SPY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	KEYS	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.14	0.93	+1.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	0.69	-0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	0.78	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.56	+0.11

Correlation

The correlation between KEYS and SPY is 0.65, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

KEYS vs. SPY - Dividend Comparison

KEYS has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.14%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KEYS Keysight Technologies, 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	1.14%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Drawdowns

KEYS vs. SPY - Drawdown Comparison

The maximum KEYS drawdown since its inception was -45.54%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for KEYS and SPY.

Drawdown Indicators

	KEYS	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-45.54%	-55.19%	+9.65%
Max Drawdown (1Y) Largest decline over 1 year	-16.27%	-12.05%	-4.22%
Max Drawdown (5Y) Largest decline over 5 years	-42.62%	-24.50%	-18.12%
Max Drawdown (10Y) Largest decline over 10 years	-42.62%	-33.72%	-8.90%
Current Drawdown Current decline from peak	-9.86%	-6.24%	-3.62%
Average Drawdown Average peak-to-trough decline	-14.15%	-9.09%	-5.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.93%	2.52%	+2.41%

Volatility

KEYS vs. SPY - Volatility Comparison

Keysight Technologies, Inc. (KEYS) has a higher volatility of 13.99% compared to State Street SPDR S&P 500 ETF (SPY) at 5.31%. This indicates that KEYS'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.

Volatility by Period

	KEYS	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.99%	5.31%	+8.68%
Volatility (6M) Calculated over the trailing 6-month period	32.25%	9.47%	+22.78%
Volatility (1Y) Calculated over the trailing 1-year period	41.67%	19.05%	+22.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.32%	17.06%	+15.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.29%	17.92%	+14.37%