MODL vs. ^GSPC
MODL (Victoryshares Westend U.S. Sector ETF) is Large Cap Blend Equities fund actively managed by Victory, while ^GSPC (S&P 500 Index) is an index. Over the past 3 years, MODL returned 18.77%/yr vs 19.20%/yr for ^GSPC. With a 0.96 correlation, they move nearly in lockstep.
Performance
MODL vs. ^GSPC - Performance Comparison
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Returns By Period
In the year-to-date period, MODL achieves a 5.53% return, which is significantly lower than ^GSPC's 7.60% return.
MODL
- 1D
- -1.03%
- 1M
- -0.90%
- YTD
- 5.53%
- 6M
- 4.79%
- 1Y
- 20.59%
- 3Y*
- 18.77%
- 5Y*
- —
- 10Y*
- —
^GSPC
- 1D
- -1.44%
- 1M
- -1.45%
- YTD
- 7.60%
- 6M
- 6.59%
- 1Y
- 22.24%
- 3Y*
- 19.20%
- 5Y*
- 11.54%
- 10Y*
- 13.71%
MODL vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MODL Victoryshares Westend U.S. Sector ETF | 5.53% | 18.99% | 24.73% | 23.74% | 6.45% |
^GSPC S&P 500 Index | 7.60% | 16.39% | 23.31% | 24.23% | 6.98% |
Correlation
The correlation between MODL and ^GSPC is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 2022 | 0.96 |
The correlation between MODL and ^GSPC has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.
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Return for Risk
MODL vs. ^GSPC — Risk / Return Rank
MODL
^GSPC
MODL vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Victoryshares Westend U.S. Sector ETF (MODL) and S&P 500 Index (^GSPC). 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.
| MODL | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.32 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.19 | 2.46 | -0.27 |
| Martin ratioReturn relative to average drawdown | 9.63 | 10.92 | -1.29 |
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Drawdowns
MODL vs. ^GSPC - Drawdown Comparison
The maximum MODL drawdown since its inception was -17.60%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for MODL and ^GSPC.
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Drawdown Indicators
| MODL | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.60% | -56.78% | +39.18% |
Max Drawdown (1Y)Largest decline over 1 year | -9.46% | -9.10% | -0.36% |
Max Drawdown (3Y)Largest decline over 3 years | -17.60% | -18.90% | +1.30% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -2.29% | -3.21% | +0.92% |
Average DrawdownAverage peak-to-trough decline | -2.03% | -10.71% | +8.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.14% | 2.04% | +0.10% |
Volatility
MODL vs. ^GSPC - Volatility Comparison
The current volatility for Victoryshares Westend U.S. Sector ETF (MODL) is 4.38%, while S&P 500 Index (^GSPC) has a volatility of 4.89%. This indicates that MODL experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MODL | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.38% | 4.89% | -0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 9.18% | 9.93% | -0.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.69% | 12.57% | -0.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.64% | 17.00% | -2.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.64% | 18.08% | -3.44% |
Frequently Asked Questions
With a correlation of 0.97, MODL and ^GSPC move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
^GSPC has higher volatility (4.89%) compared to MODL (4.38%). In terms of maximum drawdown, MODL dropped -17.60% vs ^GSPC's -56.78%.
^GSPC currently has the higher Sharpe Ratio (1.78 vs 1.77), 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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