ROKU vs. SPY

Last updated Aug 1, 2026

ROKU (Roku, 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 5 years, ROKU returned -19.48%/yr vs 12.76%/yr for SPY. Their 0.45 correlation means their historical movements had little consistent relationship.

Performance

ROKU vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roku, Inc. (ROKU) 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, ROKU achieves a 33.66% return, which is significantly higher than SPY's 10.13% return.

ROKU

• 1D: -0.06%
• 1M: 1.81%
• 6M: 52.32%
• YTD: 33.66%
• 1Y: 81.31%
• 3Y*: 14.15%
• 5Y*: -19.48%
• 10Y*: —
• ALL TIME*: 28.53%

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%

*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)
ROKU Roku, Inc.	$351.29M	$393.75M	$580.85M
SPY State Street SPDR S&P 500 ETF	$37.27B	$35.99B	$39.23B

ROKU vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ROKU Roku, Inc.	33.66%	45.94%	-18.90%	125.21%	-82.16%	-31.27%	147.96%	337.01%	-40.83%	228.14%
SPY State Street SPDR S&P 500 ETF	10.13%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	7.27%

Correlation

The correlation between ROKU and SPY is 0.50, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.50
Correlation (3Y) Balances recent behavior with more history.	0.50
Correlation (5Y) Shows whether the relationship held over a longer period.	0.54
Correlation (All Time) Calculated using the full available price history since Sep 28, 2017	0.45

The correlation between ROKU and SPY has been stable across timeframes, ranging from 0.45 to 0.54 - a consistent structural relationship.

Return for Risk

ROKU vs. SPY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ROKU

ROKU Risk / Return Rank: 78
ROKU Sharpe Ratio Rank: 79
ROKU Sortino Ratio Rank: 76
ROKU Omega Ratio Rank: 76
ROKU Calmar Ratio Rank: 79
ROKU Martin Ratio Rank: 81

SPY

SPY Risk / Return Rank: 67
SPY Sharpe Ratio Rank: 67
SPY Sortino Ratio Rank: 64
SPY Omega Ratio Rank: 65
SPY Calmar Ratio Rank: 64
SPY Martin Ratio Rank: 76

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ROKU vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roku, Inc. (ROKU) 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.

	ROKU	SPY	Difference
Sharpe ratio: Return per unit of total volatility	1.16	1.52	-0.36
Sortino ratio: Return per unit of downside risk	1.82	2.11	-0.29
Omega ratio: Gain probability vs. loss probability	1.24	1.27	-0.04
Calmar ratio: Return relative to maximum drawdown	1.96	2.20	-0.24
Martin ratio: Return relative to average drawdown	5.65	9.40	-3.75

ROKU vs. SPY - Sharpe Ratio Comparison

The current ROKU Sharpe Ratio is 1.16, which is comparable to the SPY Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of ROKU 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

ROKU vs. SPY - Drawdown Comparison

The maximum ROKU drawdown since its inception was -91.91%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for ROKU and SPY.

Drawdown Indicators

	ROKU	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-91.91%	-55.19%	-36.72%
Max Drawdown (1Y) Largest decline over 1 year	-27.69%	-8.88%	-18.81%
Max Drawdown (3Y) Largest decline over 3 years	-51.65%	-18.76%	-32.89%
Max Drawdown (5Y) Largest decline over 5 years	-90.77%	-24.50%	-66.27%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-69.76%	-1.40%	-68.36%
Average Drawdown Average peak-to-trough decline	-53.10%	-9.01%	-44.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.83%	2.08%	+7.75%

Volatility

ROKU vs. SPY - Volatility Comparison

Roku, Inc. (ROKU) and State Street SPDR S&P 500 ETF (SPY) have volatilities of 3.43% and 3.58%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ROKU	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.43%	3.58%	-0.15%
Volatility (6M) Calculated over the trailing 6-month period	34.40%	10.14%	+24.26%
Volatility (1Y) Calculated over the trailing 1-year period	46.83%	12.89%	+33.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.52%	17.18%	+49.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	74.91%	17.95%	+56.96%

Dividends

ROKU vs. SPY - Dividend Comparison

ROKU has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.01%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ROKU Roku, Inc.	0.00%	0.00%	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

Can I hold both ROKU and SPY in my portfolio?

ROKU and SPY have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ROKU or SPY?

SPY has higher volatility (3.58%) compared to ROKU (3.43%). In terms of maximum drawdown, ROKU dropped -91.91% vs SPY's -55.19%.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (1.52 vs 1.16), 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.