NMDC.NS vs. SPYG

Last updated Jun 5, 2026

NMDC.NS (NMDC Limited) is a stock, while SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) is S&P 500 fund tracking the S&P 500 Growth Index. Over the past 10 years, NMDC.NS returned 22.33%/yr vs 21.90%/yr for SPYG. At a 0.04 correlation, their price movements are largely independent.

Performance

NMDC.NS vs. SPYG - Performance Comparison

The chart below illustrates the hypothetical performance of a ₹10,000 investment in NMDC Limited (NMDC.NS) and State Street SPDR Portfolio S&P 500 Growth ETF (SPYG). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

NMDC.NS is traded in INR, while SPYG is traded in USD. To make them comparable, the SPYG values have been converted to INR using the latest available exchange rates.

Returns By Period

In the year-to-date period, NMDC.NS achieves a 17.32% return, which is significantly higher than SPYG's 15.59% return. Both investments have delivered pretty close results over the past 10 years, with NMDC.NS having a 22.33% annualized return and SPYG not far behind at 21.90%.

NMDC.NS

• 1D: -1.40%
• 1M: 6.19%
• YTD: 17.32%
• 6M: 27.62%
• 1Y: 39.75%
• 3Y*: 43.85%
• 5Y*: 20.84%
• 10Y*: 22.33%

SPYG

• 1D: -4.67%
• 1M: 0.59%
• YTD: 15.59%
• 6M: 14.48%
• 1Y: 43.32%
• 3Y*: 32.65%
• 5Y*: 21.38%
• 10Y*: 21.90%

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

NMDC.NS vs. SPYG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NMDC.NS NMDC Limited	17.32%	32.36%	-2.63%	80.15%	26.28%	36.89%	-5.08%	42.11%	-26.36%	17.27%
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	15.59%	27.93%	40.11%	30.92%	-21.82%	34.64%	36.82%	34.16%	8.92%	19.33%

Correlation

The correlation between NMDC.NS and SPYG is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (5Y) Calculated over the trailing 5-year period	0.09
Correlation (10Y) Calculated over the trailing 10-year period	0.05
Correlation (All Time) Calculated using the full available price history since Mar 4, 2008	0.04

Return for Risk

NMDC.NS vs. SPYG — Risk / Return Rank

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

NMDC.NS

NMDC.NS Risk / Return Rank: 81
NMDC.NS Sharpe Ratio Rank: 81
NMDC.NS Sortino Ratio Rank: 76
NMDC.NS Omega Ratio Rank: 75
NMDC.NS Calmar Ratio Rank: 86
NMDC.NS Martin Ratio Rank: 85

SPYG

SPYG Risk / Return Rank: 51
SPYG Sharpe Ratio Rank: 53
SPYG Sortino Ratio Rank: 51
SPYG Omega Ratio Rank: 52
SPYG Calmar Ratio Rank: 45
SPYG Martin Ratio Rank: 53

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.

NMDC.NS vs. SPYG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NMDC Limited (NMDC.NS) and State Street SPDR Portfolio S&P 500 Growth ETF (SPYG). 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.

	NMDC.NS	SPYG	Difference
Sharpe ratio: Return per unit of total volatility	1.47	2.69	-1.22
Sortino ratio: Return per unit of downside risk	2.07	3.41	-1.33
Omega ratio: Gain probability vs. loss probability	1.26	1.47	-0.21
Calmar ratio: Return relative to maximum drawdown	3.57	3.88	-0.31
Martin ratio: Return relative to average drawdown	8.86	14.67	-5.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NMDC.NS vs. SPYG - Sharpe Ratio Comparison

The current NMDC.NS Sharpe Ratio is 1.47, which is lower than the SPYG Sharpe Ratio of 2.69. The chart below compares the historical Sharpe Ratios of NMDC.NS and SPYG, 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

	NMDC.NS	SPYG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.47	2.69	-1.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	1.05	-0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	1.11	-0.49
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	0.92	-0.76

Drawdowns

NMDC.NS vs. SPYG - Drawdown Comparison

The maximum NMDC.NS drawdown since its inception was -81.71%, which is greater than SPYG's maximum drawdown of -39.13%. Use the drawdown chart below to compare losses from any high point for NMDC.NS and SPYG.

Drawdown Indicators

	NMDC.NS	SPYG	Difference
Max Drawdown Largest peak-to-trough decline	-81.71%	-39.13%	-42.58%
Max Drawdown (1Y) Largest decline over 1 year	-11.37%	-11.22%	-0.15%
Max Drawdown (3Y) Largest decline over 3 years	-35.78%	-22.71%	-13.07%
Max Drawdown (5Y) Largest decline over 5 years	-42.73%	-28.53%	-14.20%
Max Drawdown (10Y) Largest decline over 10 years	-53.42%	-28.53%	-24.89%
Current Drawdown Current decline from peak	-1.40%	-5.11%	+3.71%
Average Drawdown Average peak-to-trough decline	-51.12%	-5.69%	-45.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.59%	2.96%	+1.63%

Volatility

NMDC.NS vs. SPYG - Volatility Comparison

NMDC Limited (NMDC.NS) has a higher volatility of 10.97% compared to State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) at 6.34%. This indicates that NMDC.NS's price experiences larger fluctuations and is considered to be riskier than SPYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NMDC.NS	SPYG	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.97%	6.34%	+4.63%
Volatility (6M) Calculated over the trailing 6-month period	23.16%	12.76%	+10.40%
Volatility (1Y) Calculated over the trailing 1-year period	27.65%	16.22%	+11.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.60%	20.45%	+14.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.80%	19.73%	+17.07%

Dividends

NMDC.NS vs. SPYG - Dividend Comparison

NMDC.NS's dividend yield for the trailing twelve months is around 3.70%, more than SPYG's 0.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NMDC.NS NMDC Limited	3.70%	3.97%	3.67%	3.15%	4.66%	16.37%	6.01%	5.57%	5.78%	4.86%	11.60%	8.04%
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	0.48%	0.52%	0.60%	1.15%	1.03%	0.62%	0.90%	1.37%	1.51%	1.41%	1.55%	1.57%

Frequently Asked Questions

Can I hold both NMDC.NS and SPYG in my portfolio?

NMDC.NS and SPYG have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.