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 -25.00% vs 22.40% for SPY. At a 0.26 correlation, their price movements are largely independent.
Performance
OTF vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, OTF achieves a -23.78% return, which is significantly lower than SPY's 11.30% return.
OTF
- 1D
- 1.37%
- 1M
- -3.77%
- 6M
- -20.96%
- YTD
- -23.78%
- 1Y
- -25.00%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPY
- 1D
- 0.43%
- 1M
- 2.04%
- 6M
- 9.35%
- YTD
- 11.30%
- 1Y
- 22.40%
- 3Y*
- 20.99%
- 5Y*
- 13.15%
- 10Y*
- 15.22%
OTF vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
OTF Blue Owl Technology Finance Corp | -23.78% | -8.23% |
SPY State Street SPDR S&P 500 ETF | 11.30% | 14.38% |
Correlation
The correlation between OTF and SPY is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
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 | -2.53 | ||
| Sortino ratioReturn per unit of downside risk | -3.42 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.32 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.87 | 2.48 | -3.36 |
| Martin ratioReturn relative to average drawdown | -1.64 | 10.83 | -12.47 |
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Drawdowns
OTF vs. SPY - Drawdown Comparison
The maximum OTF drawdown since its inception was -33.06%, 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 | -33.06% | -55.19% | +22.13% |
Max Drawdown (1Y)Largest decline over 1 year | -28.63% | -8.88% | -19.75% |
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 | -30.06% | -0.35% | -29.71% |
Average DrawdownAverage peak-to-trough decline | -17.57% | -9.03% | -8.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.18% | 2.03% | +13.15% |
Volatility
OTF vs. SPY - Volatility Comparison
Blue Owl Technology Finance Corp (OTF) has a higher volatility of 8.02% compared to State Street SPDR S&P 500 ETF (SPY) at 4.52%. 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 | 8.02% | 4.52% | +3.50% |
Volatility (6M)Calculated over the trailing 6-month period | 26.42% | 9.98% | +16.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.18% | 12.55% | +19.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.71% | 17.16% | +14.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.71% | 17.92% | +13.79% |
Dividends
OTF vs. SPY - Dividend Comparison
OTF's dividend yield for the trailing twelve months is around 15.49%, more than SPY's 1.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OTF Blue Owl Technology Finance Corp | 15.49% | 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 | 1.00% | 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 (8.02%) compared to SPY (4.52%). In terms of maximum drawdown, OTF dropped -33.06% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (1.76 vs -0.78), 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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