MSIF vs. SPY
MSIF (MSC Income Fund, Inc.) 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 year, MSIF returned -19.40% vs 28.50% for SPY. At a 0.34 correlation, their price movements are largely independent.
Performance
MSIF vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, MSIF achieves a -5.43% return, which is significantly lower than SPY's 11.33% return.
MSIF
- 1D
- 1.26%
- 1M
- -9.39%
- YTD
- -5.43%
- 6M
- -10.00%
- 1Y
- -19.40%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPY
- 1D
- 0.38%
- 1M
- 4.60%
- YTD
- 11.33%
- 6M
- 11.25%
- 1Y
- 28.50%
- 3Y*
- 22.58%
- 5Y*
- 13.91%
- 10Y*
- 15.48%
MSIF vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MSIF MSC Income Fund, Inc. | -5.43% | -8.32% |
SPY State Street SPDR S&P 500 ETF | 11.33% | 14.64% |
Correlation
The correlation between MSIF and SPY is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 2025 | 0.34 |
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Return for Risk
MSIF vs. SPY — Risk / Return Rank
MSIF
SPY
MSIF vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MSC Income Fund, Inc. (MSIF) 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.
| MSIF | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.14 | ||
| Sortino ratioReturn per unit of downside risk | -4.24 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.44 | -0.54 |
| Calmar ratioReturn relative to maximum drawdown | -0.64 | 3.22 | -3.86 |
| Martin ratioReturn relative to average drawdown | -0.95 | 14.99 | -15.94 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MSIF | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.72 | 2.42 | -3.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.82 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.87 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.34 | 0.59 | -0.93 |
Drawdowns
MSIF vs. SPY - Drawdown Comparison
The maximum MSIF drawdown since its inception was -30.63%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for MSIF and SPY.
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Drawdown Indicators
| MSIF | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.63% | -55.19% | +24.56% |
Max Drawdown (1Y)Largest decline over 1 year | -30.63% | -8.88% | -21.75% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.76% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.50% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -25.37% | -0.33% | -25.04% |
Average DrawdownAverage peak-to-trough decline | -16.40% | -9.05% | -7.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.45% | 1.91% | +18.54% |
Volatility
MSIF vs. SPY - Volatility Comparison
MSC Income Fund, Inc. (MSIF) has a higher volatility of 7.66% compared to State Street SPDR S&P 500 ETF (SPY) at 2.79%. This indicates that MSIF'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
| MSIF | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.66% | 2.79% | +4.87% |
Volatility (6M)Calculated over the trailing 6-month period | 18.46% | 8.91% | +9.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.82% | 11.82% | +16.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.53% | 17.05% | +12.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.53% | 17.93% | +11.60% |
Dividends
MSIF vs. SPY - Dividend Comparison
MSIF's dividend yield for the trailing twelve months is around 11.94%, more than SPY's 0.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MSIF MSC Income Fund, Inc. | 11.94% | 10.96% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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
MSIF and SPY have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSIF has higher volatility (7.66%) compared to SPY (2.79%). In terms of maximum drawdown, MSIF dropped -30.63% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (2.42 vs -0.72), 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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