NVEC vs. SPY

Last updated Jun 4, 2026

NVEC (NVE Corporation) 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 10 years, NVEC returned 13.17%/yr vs 15.49%/yr for SPY. At a 0.33 correlation, their price movements are largely independent.

Performance

NVEC vs. SPY - Performance Comparison

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

Returns By Period

In the year-to-date period, NVEC achieves a 90.35% return, which is significantly higher than SPY's 10.91% return. Over the past 10 years, NVEC has underperformed SPY with an annualized return of 13.17%, while SPY has yielded a comparatively higher 15.49% annualized return.

NVEC

• 1D: -2.13%
• 1M: 32.56%
• YTD: 90.35%
• 6M: 70.54%
• 1Y: 62.09%
• 3Y*: 12.81%
• 5Y*: 15.87%
• 10Y*: 13.17%

SPY

• 1D: -0.70%
• 1M: 5.05%
• YTD: 10.91%
• 6M: 10.91%
• 1Y: 27.98%
• 3Y*: 22.35%
• 5Y*: 13.83%
• 10Y*: 15.49%

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

NVEC vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NVEC NVE Corporation	90.35%	-22.70%	9.21%	27.70%	1.86%	28.64%	-15.47%	-13.93%	6.17%	26.60%
SPY State Street SPDR S&P 500 ETF	10.91%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Correlation

The correlation between NVEC and SPY is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (10Y) Calculated over the trailing 10-year period	0.45
Correlation (All Time) Calculated using the full available price history since Sep 27, 1996	0.33

Over the past year, NVEC and SPY have become more correlated (0.54) than their long-term average of 0.33, meaning their price movements have been converging.

Return for Risk

NVEC vs. SPY — Risk / Return Rank

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

NVEC

NVEC Risk / Return Rank: 75
NVEC Sharpe Ratio Rank: 79
NVEC Sortino Ratio Rank: 72
NVEC Omega Ratio Rank: 75
NVEC Calmar Ratio Rank: 77
NVEC Martin Ratio Rank: 73

SPY

SPY Risk / Return Rank: 70
SPY Sharpe Ratio Rank: 71
SPY Sortino Ratio Rank: 69
SPY Omega Ratio Rank: 70
SPY Calmar Ratio Rank: 62
SPY Martin Ratio Rank: 75

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.

NVEC vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NVE Corporation (NVEC) 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.

	NVEC	SPY	Difference
Sharpe ratio: Return per unit of total volatility	1.35	2.38	-1.03
Sortino ratio: Return per unit of downside risk	1.84	3.24	-1.40
Omega ratio: Gain probability vs. loss probability	1.27	1.43	-0.17
Calmar ratio: Return relative to maximum drawdown	2.32	3.16	-0.85
Martin ratio: Return relative to average drawdown	4.49	14.72	-10.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NVEC vs. SPY - Sharpe Ratio Comparison

The current NVEC Sharpe Ratio is 1.35, which is lower than the SPY Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of NVEC 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.

Sharpe Ratios by Period

	NVEC	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.35	2.38	-1.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	0.82	-0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.32	0.87	-0.55
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	0.59	-0.51

Drawdowns

NVEC vs. SPY - Drawdown Comparison

The maximum NVEC drawdown since its inception was -95.89%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for NVEC and SPY.

Drawdown Indicators

	NVEC	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-95.89%	-55.19%	-40.70%
Max Drawdown (1Y) Largest decline over 1 year	-26.92%	-8.88%	-18.04%
Max Drawdown (3Y) Largest decline over 3 years	-39.11%	-18.76%	-20.35%
Max Drawdown (5Y) Largest decline over 5 years	-40.46%	-24.50%	-15.96%
Max Drawdown (10Y) Largest decline over 10 years	-64.67%	-33.72%	-30.95%
Current Drawdown Current decline from peak	-2.13%	-0.70%	-1.43%
Average Drawdown Average peak-to-trough decline	-41.28%	-9.05%	-32.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.88%	1.91%	+11.97%

Volatility

NVEC vs. SPY - Volatility Comparison

NVE Corporation (NVEC) has a higher volatility of 19.26% compared to State Street SPDR S&P 500 ETF (SPY) at 2.84%. This indicates that NVEC'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.

Volatility by Period

	NVEC	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.26%	2.84%	+16.42%
Volatility (6M) Calculated over the trailing 6-month period	33.58%	8.90%	+24.68%
Volatility (1Y) Calculated over the trailing 1-year period	46.29%	11.83%	+34.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.60%	17.05%	+23.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.20%	17.94%	+23.26%

Dividends

NVEC vs. SPY - Dividend Comparison

NVEC's dividend yield for the trailing twelve months is around 3.64%, more than SPY's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NVEC NVE Corporation	3.64%	6.74%	4.91%	5.10%	6.18%	5.86%	7.12%	5.60%	4.57%	4.65%	5.60%	9.01%
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

Can I hold both NVEC and SPY in my portfolio?

NVEC and SPY have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NVEC or SPY?

NVEC has higher volatility (19.26%) compared to SPY (2.84%). In terms of maximum drawdown, NVEC dropped -95.89% vs SPY's -55.19%.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (2.38 vs 1.35), 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.