OTF vs. SPY
OTF (Blue Owl Technology Finance Corp) 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 year, OTF returned -25.35% vs 21.49% for SPY. Their 0.26 correlation means their historical movements had little consistent relationship.
Performance
OTF vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, OTF achieves a -26.66% return, which is significantly lower than SPY's 10.13% return.
OTF
- 1D
- 0.71%
- 1M
- -4.97%
- 6M
- -20.01%
- YTD
- -26.66%
- 1Y
- -25.35%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -29.49%
SPY
- 1D
- 0.72%
- 1M
- 0.30%
- 6M
- 8.53%
- YTD
- 10.13%
- 1Y
- 21.49%
- 3Y*
- 19.32%
- 5Y*
- 12.76%
- 10Y*
- 15.07%
- ALL TIME*
- 10.79%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $21.65M | $21.31M | $24.25M | |
| $37.27B | $35.99B | $39.23B |
OTF vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
OTF Blue Owl Technology Finance Corp | -26.66% | -8.23% |
SPY State Street SPDR S&P 500 ETF | 10.13% | 14.38% |
Correlation
The correlation between OTF and SPY is 0.26, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.26 |
Correlation (All Time) Calculated using the full available price history since Jun 12, 2025 | 0.26 |
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Return for Risk
OTF vs. SPY — Risk / Return Rank
OTF
SPY
OTF vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Blue Owl Technology Finance Corp (OTF) 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.
| OTF | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.29 | ||
| Sortino ratioReturn per unit of downside risk | -3.10 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.27 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | 2.20 | -3.10 |
| Martin ratioReturn relative to average drawdown | -1.59 | 9.40 | -10.99 |
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Drawdowns
OTF vs. SPY - Drawdown Comparison
The maximum OTF drawdown since its inception was -33.17%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for OTF and SPY.
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Drawdown Indicators
| OTF | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.17% | -55.19% | +22.02% |
Max Drawdown (1Y)Largest decline over 1 year | -27.87% | -8.88% | -18.99% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.76% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.50% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -32.70% | -1.40% | -31.30% |
Average DrawdownAverage peak-to-trough decline | -18.32% | -9.01% | -9.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.64% | 2.08% | +13.56% |
Volatility
OTF vs. SPY - Volatility Comparison
Blue Owl Technology Finance Corp (OTF) has a higher volatility of 4.88% compared to State Street SPDR S&P 500 ETF (SPY) at 3.58%. This indicates that OTF'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
| OTF | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.88% | 3.58% | +1.30% |
Volatility (6M)Calculated over the trailing 6-month period | 26.03% | 10.14% | +15.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.29% | 12.89% | +19.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.08% | 17.18% | +13.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.08% | 17.95% | +13.13% |
Dividends
OTF vs. SPY - Dividend Comparison
OTF's dividend yield for the trailing twelve months is around 16.10%, more than SPY's 1.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OTF Blue Owl Technology Finance Corp | 16.10% | 7.91% | 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 | 1.01% | 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
OTF and SPY have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OTF has higher volatility (4.88%) compared to SPY (3.58%). In terms of maximum drawdown, OTF dropped -33.17% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (1.52 vs -0.77), 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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