SPY vs. GIB-A.TO

Last updated Jun 7, 2026

SPY (State Street SPDR S&P 500 ETF) is S&P 500 fund tracking the S&P 500 Index, while GIB-A.TO (CGI Inc) is a stock. Over the past 10 years, SPY returned 15.16%/yr vs 3.71%/yr for GIB-A.TO. At a 0.39 correlation, their price movements are largely independent.

Performance

SPY vs. GIB-A.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR S&P 500 ETF (SPY) and CGI Inc (GIB-A.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SPY is traded in USD, while GIB-A.TO is traded in CAD. To make them comparable, the GIB-A.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, SPY achieves a 8.45% return, which is significantly higher than GIB-A.TO's -26.84% return. Over the past 10 years, SPY has outperformed GIB-A.TO with an annualized return of 15.16%, while GIB-A.TO has yielded a comparatively lower 3.71% annualized return.

SPY

• 1D: -2.58%
• 1M: 0.82%
• YTD: 8.45%
• 6M: 8.18%
• 1Y: 24.51%
• 3Y*: 21.43%
• 5Y*: 13.32%
• 10Y*: 15.16%

GIB-A.TO

• 1D: -0.07%
• 1M: -1.06%
• YTD: -26.84%
• 6M: -25.99%
• 1Y: -37.17%
• 3Y*: -13.44%
• 5Y*: -5.44%
• 10Y*: 3.71%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SPY vs. GIB-A.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPY State Street SPDR S&P 500 ETF	8.45%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%
GIB-A.TO CGI Inc	-26.84%	-15.16%	2.25%	24.59%	-1.87%	10.81%	-4.81%	35.74%	12.77%	13.69%

Correlation

The correlation between SPY and GIB-A.TO is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since Jul 6, 2006	0.39

Over the past year, the correlation between SPY and GIB-A.TO has dropped to 0.15 - well below their long-term average of 0.39, suggesting their price drivers have been diverging.

Return for Risk

SPY vs. GIB-A.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPY

SPY Risk / Return Rank: 66
SPY Sharpe Ratio Rank: 66
SPY Sortino Ratio Rank: 63
SPY Omega Ratio Rank: 66
SPY Calmar Ratio Rank: 60
SPY Martin Ratio Rank: 73

GIB-A.TO

GIB-A.TO Risk / Return Rank: 5
GIB-A.TO Sharpe Ratio Rank: 1
GIB-A.TO Sortino Ratio Rank: 4
GIB-A.TO Omega Ratio Rank: 3
GIB-A.TO Calmar Ratio Rank: 9
GIB-A.TO Martin Ratio Rank: 4

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SPY vs. GIB-A.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR S&P 500 ETF (SPY) and CGI Inc (GIB-A.TO). 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.

	SPY	GIB-A.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.14	-1.30	+3.44
Sortino ratio: Return per unit of downside risk	2.88	-1.75	+4.63
Omega ratio: Gain probability vs. loss probability	1.39	0.76	+0.63
Calmar ratio: Return relative to maximum drawdown	2.92	-0.86	+3.78
Martin ratio: Return relative to average drawdown	13.50	-1.58	+15.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPY vs. GIB-A.TO - Sharpe Ratio Comparison

The current SPY Sharpe Ratio is 2.14, which is higher than the GIB-A.TO Sharpe Ratio of -1.30. The chart below compares the historical Sharpe Ratios of SPY and GIB-A.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SPY	GIB-A.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.14	-1.30	+3.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	-0.25	+1.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	0.17	+0.68
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.47	+0.11

Drawdowns

SPY vs. GIB-A.TO - Drawdown Comparison

The maximum SPY drawdown since its inception was -55.19%, which is greater than GIB-A.TO's maximum drawdown of -48.62%. Use the drawdown chart below to compare losses from any high point for SPY and GIB-A.TO.

Drawdown Indicators

	SPY	GIB-A.TO	Difference
Max Drawdown Largest peak-to-trough decline	-55.19%	-48.62%	-6.57%
Max Drawdown (1Y) Largest decline over 1 year	-8.88%	-42.91%	+34.03%
Max Drawdown (3Y) Largest decline over 3 years	-18.76%	-48.62%	+29.86%
Max Drawdown (5Y) Largest decline over 5 years	-24.50%	-48.62%	+24.12%
Max Drawdown (10Y) Largest decline over 10 years	-33.72%	-48.62%	+14.90%
Current Drawdown Current decline from peak	-2.90%	-44.05%	+41.15%
Average Drawdown Average peak-to-trough decline	-9.05%	-9.70%	+0.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	23.40%	-21.49%

Volatility

SPY vs. GIB-A.TO - Volatility Comparison

The current volatility for State Street SPDR S&P 500 ETF (SPY) is 3.73%, while CGI Inc (GIB-A.TO) has a volatility of 10.50%. This indicates that SPY experiences smaller price fluctuations and is considered to be less risky than GIB-A.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPY	GIB-A.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.73%	10.50%	-6.77%
Volatility (6M) Calculated over the trailing 6-month period	9.31%	24.92%	-15.61%
Volatility (1Y) Calculated over the trailing 1-year period	12.12%	28.49%	-16.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.09%	22.29%	-5.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.95%	22.20%	-4.25%

Dividends

SPY vs. GIB-A.TO - Dividend Comparison

SPY's dividend yield for the trailing twelve months is around 1.00%, more than GIB-A.TO's 0.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GIB-A.TO CGI Inc	0.70%	0.49%	0.10%	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

Can I hold both SPY and GIB-A.TO in my portfolio?

SPY and GIB-A.TO have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.