OPXS vs. SPY

Last updated Jul 29, 2026

OPXS (Optex Systems Holdings Inc. Common Stock) 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, OPXS returned 20.56%/yr vs 14.89%/yr for SPY. Their 0.09 correlation means their historical movements had little consistent relationship.

Performance

OPXS vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Optex Systems Holdings Inc. Common Stock (OPXS) 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, OPXS achieves a -19.82% return, which is significantly lower than SPY's 9.22% return. Over the past 10 years, OPXS has outperformed SPY with an annualized return of 20.56%, while SPY has yielded a comparatively lower 14.89% annualized return.

OPXS

• 1D: -0.83%
• 1M: -11.17%
• 6M: -24.00%
• YTD: -19.82%
• 1Y: -8.75%
• 3Y*: 50.58%
• 5Y*: 49.06%
• 10Y*: 20.56%
• ALL TIME*: -13.82%

SPY

• 1D: 0.24%
• 1M: 1.63%
• 6M: 7.09%
• YTD: 9.22%
• 1Y: 17.60%
• 3Y*: 18.95%
• 5Y*: 12.46%
• 10Y*: 14.89%
• ALL TIME*: 10.76%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
OPXS Optex Systems Holdings Inc. Common Stock	$411.20K	$437.74K	$504.80K
SPY State Street SPDR S&P 500 ETF	$34.03B	$34.70B	$38.77B

OPXS vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OPXS Optex Systems Holdings Inc. Common Stock	-19.82%	106.71%	4.66%	122.19%	57.75%	5.06%	-9.64%	50.38%	23.80%	70.34%
SPY State Street SPDR S&P 500 ETF	9.22%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Correlation

The correlation between OPXS and SPY is 0.39, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.39
Correlation (3Y) Balances recent behavior with more history.	0.24
Correlation (5Y) Shows whether the relationship held over a longer period.	0.16
Correlation (10Y) Provides a long-term view across more market conditions.	0.14
Correlation (All Time) Calculated using the full available price history since May 4, 2009	0.09

Over the past year, OPXS and SPY have become more correlated (0.39) than their long-term average of 0.09, meaning their price movements have been converging.

Return for Risk

OPXS vs. SPY — Risk / Return Rank

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

OPXS

OPXS Risk / Return Rank: 41
OPXS Sharpe Ratio Rank: 40
OPXS Sortino Ratio Rank: 42
OPXS Omega Ratio Rank: 42
OPXS Calmar Ratio Rank: 39
OPXS Martin Ratio Rank: 39

SPY

SPY Risk / Return Rank: 61
SPY Sharpe Ratio Rank: 60
SPY Sortino Ratio Rank: 58
SPY Omega Ratio Rank: 58
SPY Calmar Ratio Rank: 57
SPY Martin Ratio Rank: 70

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.

OPXS vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Optex Systems Holdings Inc. Common Stock (OPXS) 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.

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.

	OPXS	SPY	Difference
Sharpe ratio: Return per unit of total volatility	-0.13	1.39	-1.52
Sortino ratio: Return per unit of downside risk	0.30	1.96	-1.66
Omega ratio: Gain probability vs. loss probability	1.03	1.25	-0.22
Calmar ratio: Return relative to maximum drawdown	-0.21	1.99	-2.20
Martin ratio: Return relative to average drawdown	-0.38	8.54	-8.93

OPXS vs. SPY - Sharpe Ratio Comparison

The current OPXS Sharpe Ratio is -0.13, which is lower than the SPY Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of OPXS 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.

Drawdowns

OPXS vs. SPY - Drawdown Comparison

The maximum OPXS drawdown since its inception was -99.87%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for OPXS and SPY.

Drawdown Indicators

	OPXS	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-99.87%	-55.19%	-44.68%
Max Drawdown (1Y) Largest decline over 1 year	-41.80%	-8.88%	-32.92%
Max Drawdown (3Y) Largest decline over 3 years	-45.68%	-18.76%	-26.92%
Max Drawdown (5Y) Largest decline over 5 years	-45.68%	-24.50%	-21.18%
Max Drawdown (10Y) Largest decline over 10 years	-76.40%	-33.72%	-42.68%
Current Drawdown Current decline from peak	-97.35%	-2.21%	-95.14%
Average Drawdown Average peak-to-trough decline	-95.71%	-9.01%	-86.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.79%	2.07%	+20.72%

Volatility

OPXS vs. SPY - Volatility Comparison

Optex Systems Holdings Inc. Common Stock (OPXS) has a higher volatility of 17.10% compared to State Street SPDR S&P 500 ETF (SPY) at 3.18%. This indicates that OPXS'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

	OPXS	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.10%	3.18%	+13.92%
Volatility (6M) Calculated over the trailing 6-month period	45.44%	9.87%	+35.57%
Volatility (1Y) Calculated over the trailing 1-year period	67.54%	12.68%	+54.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	54.42%	17.15%	+37.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	59.31%	17.94%	+41.37%

Dividends

OPXS vs. SPY - Dividend Comparison

OPXS has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.02%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OPXS Optex Systems Holdings Inc. Common Stock	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.05%	3.64%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	1.02%	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 OPXS and SPY in my portfolio?

OPXS and SPY have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OPXS or SPY?

OPXS has higher volatility (17.10%) compared to SPY (3.18%). In terms of maximum drawdown, OPXS dropped -99.87% vs SPY's -55.19%.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (1.39 vs -0.13), 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.