PYPL vs. SPY
PYPL (PayPal Holdings, Inc.) 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, PYPL returned 4.27%/yr vs 14.86%/yr for SPY. Their 0.60 correlation means they have sometimes moved together and sometimes differently.
Performance
PYPL vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, PYPL achieves a -3.35% return, which is significantly lower than SPY's 8.96% return. Over the past 10 years, PYPL has underperformed SPY with an annualized return of 4.27%, while SPY has yielded a comparatively higher 14.86% annualized return.
PYPL
- 1D
- -0.14%
- 1M
- 26.60%
- 6M
- -0.31%
- YTD
- -3.35%
- 1Y
- -27.47%
- 3Y*
- -8.56%
- 5Y*
- -28.47%
- 10Y*
- 4.27%
- ALL TIME*
- 2.86%
SPY
- 1D
- 0.02%
- 1M
- 1.39%
- 6M
- 7.26%
- YTD
- 8.96%
- 1Y
- 17.29%
- 3Y*
- 18.85%
- 5Y*
- 12.50%
- 10Y*
- 14.86%
- ALL TIME*
- 10.76%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.37B | $1.00B | $821.37M | |
| $33.26B | $34.73B | $38.70B |
PYPL vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PYPL PayPal Holdings, Inc. | -3.35% | -31.44% | 38.98% | -13.77% | -62.23% | -19.48% | 116.51% | 28.64% | 14.22% | 86.52% |
SPY State Street SPDR S&P 500 ETF | 8.96% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Correlation
The correlation between PYPL 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. | 0.50 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.59 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.60 |
Correlation (All Time) Calculated using the full available price history since Jul 20, 2015 | 0.60 |
Over the past year, the correlation between PYPL and SPY has dropped to 0.39 - well below their long-term average of 0.60, suggesting their price drivers have been diverging.
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Return for Risk
PYPL vs. SPY — Risk / Return Rank
PYPL
SPY
PYPL vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PayPal Holdings, Inc. (PYPL) 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.
| PYPL | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.02 | ||
| Sortino ratioReturn per unit of downside risk | -2.64 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.25 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.55 | 1.95 | -2.51 |
| Martin ratioReturn relative to average drawdown | -0.87 | 8.40 | -9.27 |
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Drawdowns
PYPL vs. SPY - Drawdown Comparison
The maximum PYPL drawdown since its inception was -87.30%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for PYPL and SPY.
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Drawdown Indicators
| PYPL | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.30% | -55.19% | -32.11% |
Max Drawdown (1Y)Largest decline over 1 year | -49.92% | -8.88% | -41.04% |
Max Drawdown (3Y)Largest decline over 3 years | -57.34% | -18.76% | -38.58% |
Max Drawdown (5Y)Largest decline over 5 years | -86.64% | -24.50% | -62.14% |
Max Drawdown (10Y)Largest decline over 10 years | -87.30% | -33.72% | -53.58% |
Current DrawdownCurrent decline from peak | -81.67% | -2.45% | -79.22% |
Average DrawdownAverage peak-to-trough decline | -36.40% | -9.02% | -27.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 31.49% | 2.06% | +29.43% |
Volatility
PYPL vs. SPY - Volatility Comparison
PayPal Holdings, Inc. (PYPL) has a higher volatility of 17.43% compared to State Street SPDR S&P 500 ETF (SPY) at 3.28%. This indicates that PYPL'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
| PYPL | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.43% | 3.28% | +14.15% |
Volatility (6M)Calculated over the trailing 6-month period | 36.45% | 9.88% | +26.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.69% | 12.70% | +29.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.96% | 17.15% | +25.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.15% | 17.94% | +21.21% |
Dividends
PYPL vs. SPY - Dividend Comparison
PYPL's dividend yield for the trailing twelve months is around 0.75%, less than SPY's 1.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PYPL PayPal Holdings, Inc. | 0.75% | 0.24% | 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 | 1.02% | 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
PYPL 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.
PYPL has higher volatility (17.43%) compared to SPY (3.28%). In terms of maximum drawdown, PYPL dropped -87.30% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (1.37 vs -0.65), 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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