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PUTW vs. ^GSPC
Performance
Risk-Adjusted Performance
Drawdowns
Volatility

PUTW vs. ^GSPC

Last updated May 18, 2025

Compare and contrast key facts about WisdomTree CBOE S&P 500 PutWrite Strategy Fund (PUTW) and S&P 500 (^GSPC).

PUTW is a passively managed fund by WisdomTree that tracks the performance of the CBOE S&P 500 PutWrite Index. It was launched on Feb 24, 2016.

Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PUTW or ^GSPC.

Correlation

The correlation between PUTW and ^GSPC is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Performance

PUTW vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree CBOE S&P 500 PutWrite Strategy Fund (PUTW) and S&P 500 (^GSPC). The values are adjusted to include any dividend payments, if applicable.

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Key characteristics

Sharpe Ratio

PUTW:

0.44

^GSPC:

0.64

Sortino Ratio

PUTW:

0.74

^GSPC:

1.09

Omega Ratio

PUTW:

1.13

^GSPC:

1.16

Calmar Ratio

PUTW:

0.51

^GSPC:

0.72

Martin Ratio

PUTW:

1.87

^GSPC:

2.74

Ulcer Index

PUTW:

3.80%

^GSPC:

4.95%

Daily Std Dev

PUTW:

14.20%

^GSPC:

19.62%

Max Drawdown

PUTW:

-28.40%

^GSPC:

-56.78%

Current Drawdown

PUTW:

-5.10%

^GSPC:

-3.02%

Returns By Period

In the year-to-date period, PUTW achieves a -1.30% return, which is significantly lower than ^GSPC's 1.30% return.

PUTW

YTD

-1.30%

1M

5.27%

6M

-1.34%

1Y

6.12%

5Y*

11.61%

10Y*

N/A

^GSPC

YTD

1.30%

1M

12.79%

6M

1.49%

1Y

12.35%

5Y*

15.12%

10Y*

10.89%

*Annualized

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Risk-Adjusted Performance

PUTW vs. ^GSPC — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PUTW
The Risk-Adjusted Performance Rank of PUTW is 4848
Overall Rank
The Sharpe Ratio Rank of PUTW is 4343
Sharpe Ratio Rank
The Sortino Ratio Rank of PUTW is 4141
Sortino Ratio Rank
The Omega Ratio Rank of PUTW is 5252
Omega Ratio Rank
The Calmar Ratio Rank of PUTW is 5454
Calmar Ratio Rank
The Martin Ratio Rank of PUTW is 5151
Martin Ratio Rank
^GSPC
The Risk-Adjusted Performance Rank of ^GSPC is 7373
Overall Rank
The Sharpe Ratio Rank of ^GSPC is 7070
Sharpe Ratio Rank
The Sortino Ratio Rank of ^GSPC is 6868
Sortino Ratio Rank
The Omega Ratio Rank of ^GSPC is 7676
Omega Ratio Rank
The Calmar Ratio Rank of ^GSPC is 7171
Calmar Ratio Rank
The Martin Ratio Rank of ^GSPC is 7878
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

PUTW vs. ^GSPC - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree CBOE S&P 500 PutWrite Strategy Fund (PUTW) and S&P 500 (^GSPC). 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.

The current PUTW Sharpe Ratio is 0.44, which is lower than the ^GSPC Sharpe Ratio of 0.64. The chart below compares the historical Sharpe Ratios of PUTW and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Drawdowns

PUTW vs. ^GSPC - Drawdown Comparison

The maximum PUTW drawdown since its inception was -28.40%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for PUTW and ^GSPC. For additional features, visit the drawdowns tool.

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Volatility

PUTW vs. ^GSPC - Volatility Comparison

The current volatility for WisdomTree CBOE S&P 500 PutWrite Strategy Fund (PUTW) is 3.87%, while S&P 500 (^GSPC) has a volatility of 5.42%. This indicates that PUTW experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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