SPY vs. CRCL
SPY (State Street SPDR S&P 500 ETF) is S&P 500 fund tracking the S&P 500 Index, while CRCL (Circle Internet Group, Inc.) is a stock. Over the past year, SPY returned 25.67% vs -41.72% for CRCL. At a 0.38 correlation, their price movements are largely independent.
Performance
SPY vs. CRCL - Performance Comparison
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Returns By Period
In the year-to-date period, SPY achieves a 9.07% return, which is significantly higher than CRCL's -1.84% return.
SPY
- 1D
- 0.54%
- 1M
- -0.86%
- YTD
- 9.07%
- 6M
- 9.42%
- 1Y
- 25.67%
- 3Y*
- 20.86%
- 5Y*
- 13.36%
- 10Y*
- 15.42%
CRCL
- 1D
- -5.80%
- 1M
- -37.16%
- YTD
- -1.84%
- 6M
- -6.74%
- 1Y
- -41.72%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPY vs. CRCL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SPY State Street SPDR S&P 500 ETF | 9.07% | 15.40% |
CRCL Circle Internet Group, Inc. | -1.84% | 155.81% |
Correlation
The correlation between SPY and CRCL is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2025 | 0.38 |
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Return for Risk
SPY vs. CRCL — Risk / Return Rank
SPY
CRCL
SPY vs. CRCL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR S&P 500 ETF (SPY) and Circle Internet Group, Inc. (CRCL). 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.
| SPY | CRCL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.22 | ||
| Sortino ratioReturn per unit of downside risk | +2.26 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.05 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 2.74 | -0.33 | +3.08 |
| Martin ratioReturn relative to average drawdown | 12.39 | -0.47 | +12.86 |
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Drawdowns
SPY vs. CRCL - Drawdown Comparison
The maximum SPY drawdown since its inception was -55.19%, smaller than the maximum CRCL drawdown of -80.93%. Use the drawdown chart below to compare losses from any high point for SPY and CRCL.
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Drawdown Indicators
| SPY | CRCL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.19% | -80.93% | +25.74% |
Max Drawdown (1Y)Largest decline over 1 year | -8.88% | -80.93% | +72.05% |
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 | -2.35% | -70.45% | +68.10% |
Average DrawdownAverage peak-to-trough decline | -9.04% | -53.67% | +44.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 57.62% | -55.65% |
Volatility
SPY vs. CRCL - Volatility Comparison
The current volatility for State Street SPDR S&P 500 ETF (SPY) is 4.34%, while Circle Internet Group, Inc. (CRCL) has a volatility of 23.16%. This indicates that SPY experiences smaller price fluctuations and is considered to be less risky than CRCL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPY | CRCL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.34% | 23.16% | -18.82% |
Volatility (6M)Calculated over the trailing 6-month period | 9.58% | 72.37% | -62.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.29% | 112.20% | -99.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.12% | 202.51% | -185.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.96% | 202.51% | -184.55% |
Dividends
SPY vs. CRCL - Dividend Comparison
SPY's dividend yield for the trailing twelve months is around 1.00%, while CRCL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CRCL Circle Internet Group, 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 | 1.00% | 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
SPY and CRCL have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CRCL has higher volatility (23.16%) compared to SPY (4.34%). In terms of maximum drawdown, SPY dropped -55.19% vs CRCL's -80.93%.
SPY currently has the higher Sharpe Ratio (1.98 vs -0.24), 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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