LSGRX vs. SPY

Last updated Jun 3, 2026

LSGRX (Loomis Sayles Growth Fund) and SPY (State Street SPDR S&P 500 ETF) are both funds - LSGRX is a Large Cap Growth Equities fund managed by Natixis, while SPY is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, LSGRX returned 16.65%/yr vs 15.57%/yr for SPY. Their correlation of 0.87 suggests significant overlap in exposure. LSGRX charges 0.64%/yr vs 0.09%/yr for SPY.

Performance

LSGRX vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Loomis Sayles Growth Fund (LSGRX) 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, LSGRX achieves a 1.54% return, which is significantly lower than SPY's 11.69% return. Over the past 10 years, LSGRX has outperformed SPY with an annualized return of 16.65%, while SPY has yielded a comparatively lower 15.57% annualized return.

LSGRX

• 1D: 0.48%
• 1M: 4.10%
• YTD: 1.54%
• 6M: 2.70%
• 1Y: 15.03%
• 3Y*: 21.28%
• 5Y*: 13.03%
• 10Y*: 16.65%

SPY

• 1D: 0.14%
• 1M: 5.40%
• YTD: 11.69%
• 6M: 12.09%
• 1Y: 29.62%
• 3Y*: 22.64%
• 5Y*: 14.20%
• 10Y*: 15.57%

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

LSGRX vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LSGRX Loomis Sayles Growth Fund	1.54%	14.01%	35.21%	51.30%	-27.86%	18.68%	31.76%	31.73%	-2.56%	32.63%
SPY State Street SPDR S&P 500 ETF	11.69%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Correlation

The correlation between LSGRX and SPY is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Feb 1, 1993	0.87

The correlation between LSGRX and SPY shifts across timeframes, from 0.69 (1 year) to 0.88 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

LSGRX vs. SPY — Risk / Return Rank

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

LSGRX

LSGRX Risk / Return Rank: 14
LSGRX Sharpe Ratio Rank: 14
LSGRX Sortino Ratio Rank: 14
LSGRX Omega Ratio Rank: 14
LSGRX Calmar Ratio Rank: 14
LSGRX Martin Ratio Rank: 14

SPY

SPY Risk / Return Rank: 75
SPY Sharpe Ratio Rank: 77
SPY Sortino Ratio Rank: 75
SPY Omega Ratio Rank: 76
SPY Calmar Ratio Rank: 68
SPY Martin Ratio Rank: 80

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.

LSGRX vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Loomis Sayles Growth Fund (LSGRX) 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.

	LSGRX	SPY	Difference
Sharpe ratio Return per unit of total volatility	1.09	2.52	-1.43
Sortino ratio Return per unit of downside risk	1.59	3.42	-1.83
Omega ratio Gain probability vs. loss probability	1.20	1.46	-0.26
Calmar ratio Return relative to maximum drawdown	1.38	3.42	-2.04
Martin ratio Return relative to average drawdown	4.22	15.93	-11.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LSGRX vs. SPY - Sharpe Ratio Comparison

The current LSGRX Sharpe Ratio is 1.09, which is lower than the SPY Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of LSGRX 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

	LSGRX	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.09	2.52	-1.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	0.84	-0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	0.87	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.59	-0.14

Drawdowns

LSGRX vs. SPY - Drawdown Comparison

The maximum LSGRX drawdown since its inception was -63.63%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for LSGRX and SPY.

Drawdown Indicators

	LSGRX	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-63.63%	-55.19%	-8.44%
Max Drawdown (1Y) Largest decline over 1 year	-17.83%	-8.88%	-8.95%
Max Drawdown (3Y) Largest decline over 3 years	-27.33%	-18.76%	-8.57%
Max Drawdown (5Y) Largest decline over 5 years	-34.69%	-24.50%	-10.19%
Max Drawdown (10Y) Largest decline over 10 years	-34.69%	-33.72%	-0.97%
Current Drawdown Current decline from peak	-1.86%	0.00%	-1.86%
Average Drawdown Average peak-to-trough decline	-17.96%	-9.05%	-8.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.83%	1.91%	+3.92%

Volatility

LSGRX vs. SPY - Volatility Comparison

Loomis Sayles Growth Fund (LSGRX) has a higher volatility of 3.68% compared to State Street SPDR S&P 500 ETF (SPY) at 2.75%. This indicates that LSGRX'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

	LSGRX	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.68%	2.75%	+0.93%
Volatility (6M) Calculated over the trailing 6-month period	13.17%	8.89%	+4.28%
Volatility (1Y) Calculated over the trailing 1-year period	16.76%	11.81%	+4.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.64%	17.05%	+5.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.92%	17.94%	+2.98%

LSGRX vs. SPY - Expense Ratio Comparison

LSGRX has a 0.64% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

LSGRX vs. SPY - Dividend Comparison

LSGRX's dividend yield for the trailing twelve months is around 2.18%, more than SPY's 0.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LSGRX Loomis Sayles Growth Fund	2.18%	2.22%	5.62%	6.02%	16.47%	4.73%	4.41%	2.70%	5.82%	2.41%	1.48%	0.54%
SPY State Street SPDR S&P 500 ETF	0.97%	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 LSGRX and SPY in my portfolio?

LSGRX and SPY have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LSGRX or SPY?

LSGRX has higher volatility (3.68%) compared to SPY (2.75%). In terms of maximum drawdown, LSGRX dropped -63.63% vs SPY's -55.19%.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (2.52 vs 1.09), 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.