SPY vs. FSCO
SPY (State Street SPDR S&P 500 ETF) is S&P 500 fund tracking the S&P 500 Index, while FSCO (FS Credit Opportunities Corp.) is a stock. Over the past 3 years, SPY returned 20.82%/yr vs 14.91%/yr for FSCO. At a 0.28 correlation, their price movements are largely independent.
Performance
SPY vs. FSCO - Performance Comparison
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Returns By Period
In the year-to-date period, SPY achieves a 10.09% return, which is significantly higher than FSCO's -17.20% return.
SPY
- 1D
- 1.04%
- 1M
- 0.41%
- YTD
- 10.09%
- 6M
- 10.30%
- 1Y
- 27.05%
- 3Y*
- 20.82%
- 5Y*
- 14.00%
- 10Y*
- 15.48%
FSCO
- 1D
- -0.60%
- 1M
- -2.57%
- YTD
- -17.20%
- 6M
- -13.96%
- 1Y
- -22.70%
- 3Y*
- 14.91%
- 5Y*
- —
- 10Y*
- —
SPY vs. FSCO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SPY State Street SPDR S&P 500 ETF | 10.09% | 17.72% | 24.89% | 26.18% | -3.59% |
FSCO FS Credit Opportunities Corp. | -17.20% | 3.68% | 34.88% | 36.98% | -3.98% |
Correlation
The correlation between SPY and FSCO is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Nov 14, 2022 | 0.28 |
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Return for Risk
SPY vs. FSCO — Risk / Return Rank
SPY
FSCO
SPY vs. FSCO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR S&P 500 ETF (SPY) and FS Credit Opportunities Corp. (FSCO). 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 | FSCO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.99 | ||
| Sortino ratioReturn per unit of downside risk | +3.95 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 0.86 | +0.53 |
| Calmar ratioReturn relative to maximum drawdown | 3.02 | -0.64 | +3.66 |
| Martin ratioReturn relative to average drawdown | 13.61 | -1.26 | +14.87 |
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Drawdowns
SPY vs. FSCO - Drawdown Comparison
The maximum SPY drawdown since its inception was -55.19%, which is greater than FSCO's maximum drawdown of -35.53%. Use the drawdown chart below to compare losses from any high point for SPY and FSCO.
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Drawdown Indicators
| SPY | FSCO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.19% | -35.53% | -19.66% |
Max Drawdown (1Y)Largest decline over 1 year | -8.88% | -35.53% | +26.65% |
Max Drawdown (3Y)Largest decline over 3 years | -18.76% | -35.53% | +16.77% |
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 | -1.44% | -27.71% | +26.27% |
Average DrawdownAverage peak-to-trough decline | -9.04% | -8.11% | -0.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 17.93% | -15.96% |
Volatility
SPY vs. FSCO - Volatility Comparison
The current volatility for State Street SPDR S&P 500 ETF (SPY) is 4.73%, while FS Credit Opportunities Corp. (FSCO) has a volatility of 6.04%. This indicates that SPY experiences smaller price fluctuations and is considered to be less risky than FSCO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPY | FSCO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.73% | 6.04% | -1.31% |
Volatility (6M)Calculated over the trailing 6-month period | 9.81% | 22.58% | -12.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.41% | 27.39% | -14.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.15% | 28.18% | -11.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.98% | 28.18% | -10.20% |
Dividends
SPY vs. FSCO - Dividend Comparison
SPY's dividend yield for the trailing twelve months is around 1.24%, less than FSCO's 15.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSCO FS Credit Opportunities Corp. | 15.92% | 12.65% | 10.47% | 11.26% | 1.95% | 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
SPY and FSCO have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSCO has higher volatility (6.04%) compared to SPY (4.73%). In terms of maximum drawdown, SPY dropped -55.19% vs FSCO's -35.53%.
SPY currently has the higher Sharpe Ratio (2.17 vs -0.83), 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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