MSEX vs. SPY
Compare and contrast key facts about Middlesex Water Company (MSEX) and SPDR S&P 500 ETF (SPY).
SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: MSEX or SPY.
Key characteristics
| MSEX | SPY | |
|---|---|---|
| YTD Return | -22.24% | 5.94% |
| 1Y Return | -28.79% | 22.56% |
| 3Y Return (Ann) | -13.56% | 7.95% |
| 5Y Return (Ann) | -0.63% | 13.35% |
| 10Y Return (Ann) | 11.96% | 12.34% |
| Sharpe Ratio | -1.00 | 1.93 |
| Daily Std Dev | 29.27% | 11.63% |
| Max Drawdown | -60.51% | -55.19% |
| Current Drawdown | -56.31% | -4.05% |
Correlation
The correlation between MSEX and SPY is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
MSEX vs. SPY - Performance Comparison
In the year-to-date period, MSEX achieves a -22.24% return, which is significantly lower than SPY's 5.94% return. Both investments have delivered pretty close results over the past 10 years, with MSEX having a 11.96% annualized return and SPY not far ahead at 12.34%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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Risk-Adjusted Performance
MSEX vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Middlesex Water Company (MSEX) and 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.
Dividends
MSEX vs. SPY - Dividend Comparison
MSEX's dividend yield for the trailing twelve months is around 2.51%, more than SPY's 1.34% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MSEX Middlesex Water Company | 2.51% | 1.92% | 1.50% | 0.92% | 1.44% | 1.54% | 1.71% | 2.15% | 1.88% | 2.92% | 3.31% | 3.59% |
SPY SPDR S&P 500 ETF | 1.34% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
MSEX vs. SPY - Drawdown Comparison
The maximum MSEX drawdown since its inception was -60.51%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for MSEX and SPY. For additional features, visit the drawdowns tool.
Volatility
MSEX vs. SPY - Volatility Comparison
Middlesex Water Company (MSEX) has a higher volatility of 9.89% compared to SPDR S&P 500 ETF (SPY) at 3.91%. This indicates that MSEX'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.