SKWD vs. SPY
SKWD (Skyward Specialty Insurance Group Inc. Common Stock) 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 3 years, SKWD returned 27.92%/yr vs 20.68%/yr for SPY. At a 0.22 correlation, their price movements are largely independent.
Performance
SKWD vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, SKWD achieves a 3.46% return, which is significantly lower than SPY's 8.15% return.
SKWD
- 1D
- 4.05%
- 1M
- 11.44%
- YTD
- 3.46%
- 6M
- 1.73%
- 1Y
- -10.04%
- 3Y*
- 27.92%
- 5Y*
- —
- 10Y*
- —
SPY
- 1D
- -1.45%
- 1M
- -1.36%
- YTD
- 8.15%
- 6M
- 7.20%
- 1Y
- 23.59%
- 3Y*
- 20.68%
- 5Y*
- 13.05%
- 10Y*
- 15.53%
SKWD vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SKWD Skyward Specialty Insurance Group Inc. Common Stock | 3.46% | 1.13% | 49.17% | 79.26% |
SPY State Street SPDR S&P 500 ETF | 8.15% | 17.72% | 24.89% | 21.56% |
Correlation
The correlation between SKWD and SPY is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Jan 13, 2023 | 0.22 |
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Return for Risk
SKWD vs. SPY — Risk / Return Rank
SKWD
SPY
SKWD vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Skyward Specialty Insurance Group Inc. Common Stock (SKWD) 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.
| SKWD | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.19 | ||
| Sortino ratioReturn per unit of downside risk | -2.77 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.34 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.34 | 2.67 | -3.00 |
| Martin ratioReturn relative to average drawdown | -0.51 | 11.92 | -12.43 |
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Drawdowns
SKWD vs. SPY - Drawdown Comparison
The maximum SKWD drawdown since its inception was -36.52%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for SKWD and SPY.
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Drawdown Indicators
| SKWD | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.52% | -55.19% | +18.67% |
Max Drawdown (1Y)Largest decline over 1 year | -29.82% | -8.88% | -20.94% |
Max Drawdown (3Y)Largest decline over 3 years | -36.52% | -18.76% | -17.76% |
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 | -18.65% | -3.17% | -15.48% |
Average DrawdownAverage peak-to-trough decline | -11.08% | -9.04% | -2.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.56% | 1.98% | +17.58% |
Volatility
SKWD vs. SPY - Volatility Comparison
Skyward Specialty Insurance Group Inc. Common Stock (SKWD) has a higher volatility of 11.03% compared to State Street SPDR S&P 500 ETF (SPY) at 4.87%. This indicates that SKWD'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
| SKWD | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.03% | 4.87% | +6.16% |
Volatility (6M)Calculated over the trailing 6-month period | 24.89% | 9.85% | +15.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.49% | 12.50% | +21.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.01% | 17.15% | +16.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.01% | 17.95% | +16.06% |
Dividends
SKWD vs. SPY - Dividend Comparison
SKWD has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.03%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SKWD Skyward Specialty Insurance Group Inc. Common Stock | 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 | 1.03% | 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
SKWD and SPY have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SKWD has higher volatility (11.03%) compared to SPY (4.87%). In terms of maximum drawdown, SKWD dropped -36.52% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (1.90 vs -0.29), 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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