MNSO vs. SPY
MNSO (MINISO Group Holding Limited) 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, MNSO returned -8.95%/yr vs 13.05%/yr for SPY. At a 0.31 correlation, their price movements are largely independent.
Performance
MNSO vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, MNSO achieves a -37.63% return, which is significantly lower than SPY's 8.15% return.
MNSO
- 1D
- -1.04%
- 1M
- -15.59%
- YTD
- -37.63%
- 6M
- -40.27%
- 1Y
- -31.59%
- 3Y*
- -6.68%
- 5Y*
- -8.95%
- 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%
MNSO vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
MNSO MINISO Group Holding Limited | -37.63% | -18.93% | 20.92% | 93.11% | 6.38% | -60.35% | 8.16% |
SPY State Street SPDR S&P 500 ETF | 8.15% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 7.92% |
Correlation
The correlation between MNSO and SPY is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Oct 15, 2020 | 0.31 |
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Return for Risk
MNSO vs. SPY — Risk / Return Rank
MNSO
SPY
MNSO vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MINISO Group Holding Limited (MNSO) 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.
| MNSO | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.69 | ||
| Sortino ratioReturn per unit of downside risk | -3.81 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.34 | -0.48 |
| Calmar ratioReturn relative to maximum drawdown | -0.57 | 2.67 | -3.24 |
| Martin ratioReturn relative to average drawdown | -1.11 | 11.92 | -13.03 |
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Drawdowns
MNSO vs. SPY - Drawdown Comparison
The maximum MNSO drawdown since its inception was -86.58%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for MNSO and SPY.
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Drawdown Indicators
| MNSO | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.58% | -55.19% | -31.39% |
Max Drawdown (1Y)Largest decline over 1 year | -55.56% | -8.88% | -46.68% |
Max Drawdown (3Y)Largest decline over 3 years | -57.92% | -18.76% | -39.16% |
Max Drawdown (5Y)Largest decline over 5 years | -77.86% | -24.50% | -53.36% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -62.20% | -3.17% | -59.03% |
Average DrawdownAverage peak-to-trough decline | -45.59% | -9.04% | -36.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.53% | 1.98% | +26.55% |
Volatility
MNSO vs. SPY - Volatility Comparison
MINISO Group Holding Limited (MNSO) has a higher volatility of 10.33% compared to State Street SPDR S&P 500 ETF (SPY) at 4.87%. This indicates that MNSO'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
| MNSO | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.33% | 4.87% | +5.46% |
Volatility (6M)Calculated over the trailing 6-month period | 23.44% | 9.85% | +13.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.86% | 12.50% | +27.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.19% | 17.15% | +50.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 68.50% | 17.95% | +50.55% |
Dividends
MNSO vs. SPY - Dividend Comparison
MNSO's dividend yield for the trailing twelve months is around 5.83%, more than SPY's 1.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MNSO MINISO Group Holding Limited | 5.83% | 3.29% | 2.36% | 2.02% | 1.60% | 1.51% | 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
MNSO and SPY have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MNSO has higher volatility (10.33%) compared to SPY (4.87%). In terms of maximum drawdown, MNSO dropped -86.58% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (1.90 vs -0.80), 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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