KRYS vs. SPY

Last updated Jul 17, 2026

KRYS (Krystal Biotech, 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 5 years, KRYS returned 39.99%/yr vs 13.24%/yr for SPY. At a 0.36 correlation, their price movements are largely independent.

Performance

KRYS vs. SPY - Performance Comparison

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

Returns By Period

In the year-to-date period, KRYS achieves a 38.63% return, which is significantly higher than SPY's 10.67% return.

KRYS

• 1D: -2.41%
• 1M: 5.70%
• 6M: 21.20%
• YTD: 38.63%
• 1Y: 127.74%
• 3Y*: 38.78%
• 5Y*: 39.99%
• 10Y*: —

SPY

• 1D: -0.54%
• 1M: 0.31%
• 6M: 9.02%
• YTD: 10.67%
• 1Y: 21.60%
• 3Y*: 20.01%
• 5Y*: 13.24%
• 10Y*: 15.08%

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

KRYS vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KRYS Krystal Biotech, Inc.	38.63%	57.37%	26.28%	56.60%	13.25%	16.58%	8.34%	166.51%	97.53%	0.19%
SPY State Street SPDR S&P 500 ETF	10.67%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	7.30%

Correlation

The correlation between KRYS and SPY is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.40
Correlation (All Time) Calculated using the full available price history since Sep 20, 2017	0.36

Return for Risk

KRYS vs. SPY — Risk / Return Rank

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

KRYS

KRYS Risk / Return Rank: 96
KRYS Sharpe Ratio Rank: 97
KRYS Sortino Ratio Rank: 95
KRYS Omega Ratio Rank: 95
KRYS Calmar Ratio Rank: 98
KRYS Martin Ratio Rank: 97

SPY

SPY Risk / Return Rank: 65
SPY Sharpe Ratio Rank: 65
SPY Sortino Ratio Rank: 63
SPY Omega Ratio Rank: 65
SPY Calmar Ratio Rank: 61
SPY Martin Ratio Rank: 73

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.

KRYS vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Krystal Biotech, Inc. (KRYS) 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.

	KRYS	SPY	Difference
Sharpe ratio: Return per unit of total volatility	3.25	1.72	+1.53
Sortino ratio: Return per unit of downside risk	3.50	2.38	+1.12
Omega ratio: Gain probability vs. loss probability	1.48	1.31	+0.17
Calmar ratio: Return relative to maximum drawdown	8.06	2.44	+5.62
Martin ratio: Return relative to average drawdown	20.74	10.63	+10.11

KRYS vs. SPY - Sharpe Ratio Comparison

The current KRYS Sharpe Ratio is 3.25, which is higher than the SPY Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of KRYS and SPY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

KRYS vs. SPY - Drawdown Comparison

The maximum KRYS drawdown since its inception was -53.42%, roughly equal to the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for KRYS and SPY.

Drawdown Indicators

	KRYS	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-53.42%	-55.19%	+1.77%
Max Drawdown (1Y) Largest decline over 1 year	-15.94%	-8.88%	-7.06%
Max Drawdown (3Y) Largest decline over 3 years	-42.26%	-18.76%	-23.50%
Max Drawdown (5Y) Largest decline over 5 years	-44.55%	-24.50%	-20.05%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-9.62%	-0.91%	-8.71%
Average Drawdown Average peak-to-trough decline	-16.03%	-9.02%	-7.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.18%	2.04%	+4.14%

Volatility

KRYS vs. SPY - Volatility Comparison

Krystal Biotech, Inc. (KRYS) has a higher volatility of 12.22% compared to State Street SPDR S&P 500 ETF (SPY) at 3.58%. This indicates that KRYS'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

	KRYS	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.22%	3.58%	+8.64%
Volatility (6M) Calculated over the trailing 6-month period	27.17%	10.02%	+17.15%
Volatility (1Y) Calculated over the trailing 1-year period	39.52%	12.58%	+26.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	76.45%	17.17%	+59.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.86%	17.93%	+55.93%

Dividends

KRYS vs. SPY - Dividend Comparison

KRYS has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.00%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KRYS Krystal Biotech, 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	1.00%	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

Can I hold both KRYS and SPY in my portfolio?

KRYS and SPY have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KRYS or SPY?

KRYS has higher volatility (12.22%) compared to SPY (3.58%). In terms of maximum drawdown, KRYS dropped -53.42% vs SPY's -55.19%.

Which has better risk-adjusted returns?

KRYS currently has the higher Sharpe Ratio (3.25 vs 1.72), 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.