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NTNX vs. SPY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

NTNX vs. SPY

Last updated Jun 5, 2026

NTNX (Nutanix, 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 5 years, NTNX returned 10.43%/yr vs 13.91%/yr for SPY. At a 0.48 correlation, their price movements are largely independent.

Performance

NTNX vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nutanix, Inc. (NTNX) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, NTNX achieves a 6.35% return, which is significantly lower than SPY's 11.33% return.

NTNX

1D
3.64%
1M
26.57%
YTD
6.35%
6M
16.68%
1Y
-28.74%
3Y*
22.88%
5Y*
10.43%
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%
*Multi-year figures are annualized to reflect compound growth (CAGR)

NTNX vs. SPY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
NTNX
Nutanix, Inc.		6.35%-15.51%28.29%83.07%-18.24%-0.03%1.95%-24.84%17.89%32.83%
SPY
State Street SPDR S&P 500 ETF		11.33%17.72%24.89%26.18%-18.18%28.73%18.33%31.22%-4.57%21.71%

Correlation

The correlation between NTNX and SPY is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.23

Correlation (3Y)
Calculated over the trailing 3-year period

0.41

Correlation (5Y)
Calculated over the trailing 5-year period

0.51

Correlation (All Time)
Calculated using the full available price history since Oct 3, 2016

0.48

Over the past year, the correlation between NTNX and SPY has dropped to 0.23 - well below their long-term average of 0.48, suggesting their price drivers have been diverging.

Compare stocks, funds, or ETFs

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Nutanix, Inc.

State Street SPDR S&P 500 ETF

Often compared with NTNX:
NTNX vs. NVDANTNX vs. AMRNTNX vs. RXSTNTNX vs. KKRNTNX vs. VOONTNX vs. PANWNTNX vs. CRWD
Often compared with SPY:
SPY vs. QQQSPY vs. VOOSPY vs. BRK-BSPY vs. RSPSPY vs. VTISPY vs. SCHDSPY vs. GLD

Return for Risk

NTNX vs. SPY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
NTNX
NTNX Risk / Return Rank: 1919
Overall Rank
NTNX Sharpe Ratio Rank: 1414
Sharpe Ratio Rank
NTNX Sortino Ratio Rank: 1717
Sortino Ratio Rank
NTNX Omega Ratio Rank: 1717
Omega Ratio Rank
NTNX Calmar Ratio Rank: 2424
Calmar Ratio Rank
NTNX Martin Ratio Rank: 2525
Martin Ratio Rank
SPY
SPY Risk / Return Rank: 7474
Overall Rank
SPY Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
SPY Sortino Ratio Rank: 7474
Sortino Ratio Rank
SPY Omega Ratio Rank: 7575
Omega Ratio Rank
SPY Calmar Ratio Rank: 6666
Calmar Ratio Rank
SPY Martin Ratio Rank: 7878
Martin Ratio Rank
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.

NTNX vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nutanix, Inc. (NTNX) 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.

NTNXSPYDifference
Sharpe ratioReturn per unit of total volatility
-0.63
2.42

-3.05

Sortino ratioReturn per unit of downside risk
-0.66
3.29

-3.95

Omega ratioGain probability vs. loss probability

0.91

1.44

-0.52

Calmar ratioReturn relative to maximum drawdown

-0.50

3.22

-3.72

Martin ratioReturn relative to average drawdown

-0.84

14.99

-15.83

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NTNX vs. SPY - Sharpe Ratio Comparison

The current NTNX Sharpe Ratio is -0.63, which is lower than the SPY Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of NTNX and SPY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

NTNXSPYDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.63

2.42

-3.05

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.21

0.82

-0.61

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.87

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.07

0.59

-0.51

Drawdowns

NTNX vs. SPY - Drawdown Comparison

The maximum NTNX drawdown since its inception was -80.40%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for NTNX and SPY.

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Drawdown Indicators

NTNXSPYDifference

Max Drawdown

Largest peak-to-trough decline

-80.40%

-55.19%

-25.21%

Max Drawdown (1Y)

Largest decline over 1 year

-57.58%

-8.88%

-48.70%

Max Drawdown (3Y)

Largest decline over 3 years

-58.58%

-18.76%

-39.82%

Max Drawdown (5Y)

Largest decline over 5 years

-68.71%

-24.50%

-44.21%

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.72%

—

Current Drawdown

Current decline from peak

-33.83%

-0.33%

-33.50%

Average Drawdown

Average peak-to-trough decline

-40.59%

-9.05%

-31.54%

Ulcer Index

Depth and duration of drawdowns from previous peaks

34.13%

1.91%

+32.22%

Volatility

NTNX vs. SPY - Volatility Comparison

Nutanix, Inc. (NTNX) has a higher volatility of 16.60% compared to State Street SPDR S&P 500 ETF (SPY) at 2.79%. This indicates that NTNX'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

NTNXSPYDifference

Volatility (1M)

Calculated over the trailing 1-month period

16.60%

2.79%

+13.81%

Volatility (6M)

Calculated over the trailing 6-month period

35.59%

8.91%

+26.68%

Volatility (1Y)

Calculated over the trailing 1-year period

45.98%

11.82%

+34.16%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

49.71%

17.05%

+32.66%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

57.17%

17.93%

+39.24%

Dividends

NTNX vs. SPY - Dividend Comparison

NTNX has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 0.98%.

PositionTTM20252024202320222021202020192018201720162015
NTNX
Nutanix, Inc.		0.00%0.00%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

NTNX and SPY have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

NTNX has higher volatility (16.60%) compared to SPY (2.79%). In terms of maximum drawdown, NTNX dropped -80.40% vs SPY's -55.19%.

SPY currently has the higher Sharpe Ratio (2.42 vs -0.63), 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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