LEN-B vs. SPY

Last updated Jun 4, 2026

LEN-B (Lennar Corporation) 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, LEN-B returned 11.19%/yr vs 15.49%/yr for SPY. A 0.53 correlation means they provide meaningful diversification when combined.

Performance

LEN-B vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Lennar Corporation (LEN-B) 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, LEN-B achieves a -6.99% return, which is significantly lower than SPY's 10.91% return. Over the past 10 years, LEN-B has underperformed SPY with an annualized return of 11.19%, while SPY has yielded a comparatively higher 15.49% annualized return.

LEN-B

• 1D: -1.81%
• 1M: 6.71%
• YTD: -6.99%
• 6M: -29.49%
• 1Y: -12.47%
• 3Y*: -0.81%
• 5Y*: 5.67%
• 10Y*: 11.19%

SPY

• 1D: -0.70%
• 1M: 5.05%
• YTD: 10.91%
• 6M: 10.91%
• 1Y: 27.98%
• 3Y*: 22.35%
• 5Y*: 13.83%
• 10Y*: 15.49%

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

LEN-B vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LEN-B Lennar Corporation	-6.99%	-22.92%	-0.04%	82.02%	-20.04%	58.29%	38.63%	43.24%	-39.16%	53.36%
SPY State Street SPDR S&P 500 ETF	10.91%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Correlation

The correlation between LEN-B and SPY is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (10Y) Calculated over the trailing 10-year period	0.47
Correlation (All Time) Calculated using the full available price history since Apr 24, 2003	0.53

Over the past year, the correlation between LEN-B and SPY has dropped to 0.30 - well below their long-term average of 0.53, suggesting their price drivers have been diverging.

Return for Risk

LEN-B vs. SPY — Risk / Return Rank

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

LEN-B

LEN-B Risk / Return Rank: 27
LEN-B Sharpe Ratio Rank: 26
LEN-B Sortino Ratio Rank: 24
LEN-B Omega Ratio Rank: 25
LEN-B Calmar Ratio Rank: 30
LEN-B Martin Ratio Rank: 30

SPY

SPY Risk / Return Rank: 70
SPY Sharpe Ratio Rank: 71
SPY Sortino Ratio Rank: 69
SPY Omega Ratio Rank: 70
SPY Calmar Ratio Rank: 62
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.

LEN-B vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lennar Corporation (LEN-B) 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.

	LEN-B	SPY	Difference
Sharpe ratio: Return per unit of total volatility	-0.33	2.38	-2.71
Sortino ratio: Return per unit of downside risk	-0.25	3.24	-3.49
Omega ratio: Gain probability vs. loss probability	0.97	1.43	-0.46
Calmar ratio: Return relative to maximum drawdown	-0.31	3.16	-3.47
Martin ratio: Return relative to average drawdown	-0.57	14.72	-15.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LEN-B vs. SPY - Sharpe Ratio Comparison

The current LEN-B Sharpe Ratio is -0.33, which is lower than the SPY Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of LEN-B 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.

Sharpe Ratios by Period

	LEN-B	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.33	2.38	-2.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.16	0.82	-0.65
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.30	0.87	-0.57
Sharpe Ratio (All Time) Calculated using the full available price history	0.14	0.59	-0.45

Drawdowns

LEN-B vs. SPY - Drawdown Comparison

The maximum LEN-B drawdown since its inception was -95.76%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for LEN-B and SPY.

Drawdown Indicators

	LEN-B	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-95.76%	-55.19%	-40.57%
Max Drawdown (1Y) Largest decline over 1 year	-40.29%	-8.88%	-31.41%
Max Drawdown (3Y) Largest decline over 3 years	-50.66%	-18.76%	-31.90%
Max Drawdown (5Y) Largest decline over 5 years	-50.66%	-24.50%	-26.16%
Max Drawdown (10Y) Largest decline over 10 years	-62.05%	-33.72%	-28.33%
Current Drawdown Current decline from peak	-46.20%	-0.70%	-45.50%
Average Drawdown Average peak-to-trough decline	-34.78%	-9.05%	-25.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.90%	1.91%	+19.99%

Volatility

LEN-B vs. SPY - Volatility Comparison

Lennar Corporation (LEN-B) has a higher volatility of 10.77% compared to State Street SPDR S&P 500 ETF (SPY) at 2.84%. This indicates that LEN-B'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

	LEN-B	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.77%	2.84%	+7.93%
Volatility (6M) Calculated over the trailing 6-month period	26.01%	8.90%	+17.11%
Volatility (1Y) Calculated over the trailing 1-year period	37.84%	11.83%	+26.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.62%	17.05%	+17.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.90%	17.94%	+19.96%

Dividends

LEN-B vs. SPY - Dividend Comparison

LEN-B's dividend yield for the trailing twelve months is around 2.28%, more than SPY's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LEN-B Lennar Corporation	2.28%	2.10%	1.51%	1.12%	2.01%	1.05%	1.02%	0.36%	0.51%	0.30%	0.46%	0.40%
SPY State Street SPDR S&P 500 ETF	0.98%	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 LEN-B and SPY in my portfolio?

LEN-B and SPY have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LEN-B or SPY?

LEN-B has higher volatility (10.77%) compared to SPY (2.84%). In terms of maximum drawdown, LEN-B dropped -95.76% vs SPY's -55.19%.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (2.38 vs -0.33), 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.