ODFL vs. SPGP

Last updated Jun 23, 2026

ODFL (Old Dominion Freight Line, Inc.) is a stock, while SPGP (Invesco S&P 500 GARP ETF) is Multi-factor fund tracking the S&P 500 GARP Index. Over the past 10 years, ODFL returned 27.87%/yr vs 15.41%/yr for SPGP. A 0.55 correlation means they provide meaningful diversification when combined.

Performance

ODFL vs. SPGP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Old Dominion Freight Line, Inc. (ODFL) and Invesco S&P 500 GARP ETF (SPGP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ODFL achieves a 40.37% return, which is significantly higher than SPGP's 5.80% return. Over the past 10 years, ODFL has outperformed SPGP with an annualized return of 27.87%, while SPGP has yielded a comparatively lower 15.41% annualized return.

ODFL

• 1D: -0.69%
• 1M: 4.43%
• YTD: 40.37%
• 6M: 38.17%
• 1Y: 41.22%
• 3Y*: 10.99%
• 5Y*: 12.21%
• 10Y*: 27.87%

SPGP

• 1D: -0.27%
• 1M: 1.56%
• YTD: 5.80%
• 6M: 3.85%
• 1Y: 16.63%
• 3Y*: 12.56%
• 5Y*: 8.15%
• 10Y*: 15.41%

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

ODFL vs. SPGP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ODFL Old Dominion Freight Line, Inc.	40.37%	-10.47%	-12.51%	43.46%	-20.48%	84.15%	54.81%	54.36%	-5.79%	54.11%
SPGP Invesco S&P 500 GARP ETF	5.80%	9.80%	8.48%	20.29%	-13.83%	35.72%	15.92%	39.16%	1.68%	36.24%

Correlation

The correlation between ODFL and SPGP is 0.52, 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	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since Jun 16, 2011	0.55

The correlation between ODFL and SPGP has been stable across timeframes, ranging from 0.52 to 0.62 - a consistent structural relationship.

Return for Risk

ODFL vs. SPGP — Risk / Return Rank

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

ODFL

ODFL Risk / Return Rank: 70
ODFL Sharpe Ratio Rank: 73
ODFL Sortino Ratio Rank: 68
ODFL Omega Ratio Rank: 68
ODFL Calmar Ratio Rank: 71
ODFL Martin Ratio Rank: 70

SPGP

SPGP Risk / Return Rank: 31
SPGP Sharpe Ratio Rank: 30
SPGP Sortino Ratio Rank: 30
SPGP Omega Ratio Rank: 28
SPGP Calmar Ratio Rank: 31
SPGP Martin Ratio Rank: 38

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.

ODFL vs. SPGP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Old Dominion Freight Line, Inc. (ODFL) and Invesco S&P 500 GARP ETF (SPGP). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ODFL	SPGP	Difference
Sharpe ratio: Return per unit of total volatility	1.05	1.06	-0.01
Sortino ratio: Return per unit of downside risk	1.58	1.59	-0.01
Omega ratio: Gain probability vs. loss probability	1.20	1.19	+0.01
Calmar ratio: Return relative to maximum drawdown	1.59	1.50	+0.09
Martin ratio: Return relative to average drawdown	3.52	5.70	-2.18

ODFL vs. SPGP - Sharpe Ratio Comparison

The current ODFL Sharpe Ratio is 1.05, which is comparable to the SPGP Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of ODFL and SPGP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ODFL vs. SPGP - Drawdown Comparison

The maximum ODFL drawdown since its inception was -66.29%, which is greater than SPGP's maximum drawdown of -42.08%. Use the drawdown chart below to compare losses from any high point for ODFL and SPGP.

Drawdown Indicators

	ODFL	SPGP	Difference
Max Drawdown Largest peak-to-trough decline	-66.29%	-42.08%	-24.21%
Max Drawdown (1Y) Largest decline over 1 year	-26.06%	-11.15%	-14.91%
Max Drawdown (3Y) Largest decline over 3 years	-45.18%	-22.87%	-22.31%
Max Drawdown (5Y) Largest decline over 5 years	-45.18%	-22.87%	-22.31%
Max Drawdown (10Y) Largest decline over 10 years	-45.18%	-42.08%	-3.10%
Current Drawdown Current decline from peak	-11.74%	-1.30%	-10.44%
Average Drawdown Average peak-to-trough decline	-19.08%	-4.35%	-14.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.73%	2.92%	+8.81%

Volatility

ODFL vs. SPGP - Volatility Comparison

Old Dominion Freight Line, Inc. (ODFL) has a higher volatility of 12.79% compared to Invesco S&P 500 GARP ETF (SPGP) at 5.39%. This indicates that ODFL's price experiences larger fluctuations and is considered to be riskier than SPGP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ODFL	SPGP	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.79%	5.39%	+7.40%
Volatility (6M) Calculated over the trailing 6-month period	30.23%	12.33%	+17.90%
Volatility (1Y) Calculated over the trailing 1-year period	39.66%	15.79%	+23.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.59%	18.62%	+17.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.18%	21.25%	+11.93%

Dividends

ODFL vs. SPGP - Dividend Comparison

ODFL's dividend yield for the trailing twelve months is around 0.52%, less than SPGP's 1.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ODFL Old Dominion Freight Line, Inc.	0.52%	0.71%	0.59%	0.39%	0.42%	0.22%	0.31%	0.36%	0.42%	0.38%	0.00%	0.00%
SPGP Invesco S&P 500 GARP ETF	1.13%	1.04%	1.38%	1.24%	1.22%	0.69%	1.10%	0.86%	0.95%	0.68%	0.89%	1.12%

Frequently Asked Questions

Can I hold both ODFL and SPGP in my portfolio?

ODFL and SPGP have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ODFL or SPGP?

ODFL has higher volatility (12.79%) compared to SPGP (5.39%). In terms of maximum drawdown, ODFL dropped -66.29% vs SPGP's -42.08%.

Which has better risk-adjusted returns?

SPGP currently has the higher Sharpe Ratio (1.06 vs 1.05), 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.