SPY vs. MINT
SPY (State Street SPDR S&P 500 ETF) and MINT (PIMCO Enhanced Short Maturity Active ETF) are both exchange-traded funds - SPY is a S&P 500 fund tracking the S&P 500 Index, while MINT is a Ultrashort Bond fund actively managed by PIMCO. SPY is passively managed, while MINT is actively managed. Over the past 10 years, SPY returned 15.42%/yr vs 2.72%/yr for MINT. At a correlation of -0.01, they often move in opposite directions. SPY charges 0.09%/yr vs 0.36%/yr for MINT.
Performance
SPY vs. MINT - 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 MINT's 1.94% return. Over the past 10 years, SPY has outperformed MINT with an annualized return of 15.42%, while MINT has yielded a comparatively lower 2.72% annualized return.
SPY
- 1D
- 0.54%
- 1M
- 0.35%
- YTD
- 9.07%
- 6M
- 9.42%
- 1Y
- 25.67%
- 3Y*
- 20.86%
- 5Y*
- 13.36%
- 10Y*
- 15.42%
MINT
- 1D
- 0.04%
- 1M
- 0.35%
- YTD
- 1.94%
- 6M
- 2.19%
- 1Y
- 4.67%
- 3Y*
- 5.40%
- 5Y*
- 3.49%
- 10Y*
- 2.72%
SPY vs. MINT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPY State Street SPDR S&P 500 ETF | 9.07% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
MINT PIMCO Enhanced Short Maturity Active ETF | 1.94% | 4.74% | 5.94% | 6.26% | -1.01% | -0.03% | 1.62% | 3.34% | 1.72% | 1.86% |
Correlation
The correlation between SPY and MINT is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Nov 17, 2009 | -0.01 |
The correlation between SPY and MINT shifts across timeframes, from -0.01 (all time) to 0.13 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SPY vs. MINT — Risk / Return Rank
SPY
MINT
SPY vs. MINT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR S&P 500 ETF (SPY) and PIMCO Enhanced Short Maturity Active ETF (MINT). 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 | MINT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -15.53 | ||
| Sortino ratioReturn per unit of downside risk | -64.26 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 21.62 | -20.26 |
| Calmar ratioReturn relative to maximum drawdown | 2.74 | 95.35 | -92.60 |
| Martin ratioReturn relative to average drawdown | 12.39 | 965.15 | -952.76 |
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Drawdowns
SPY vs. MINT - Drawdown Comparison
The maximum SPY drawdown since its inception was -55.19%, which is greater than MINT's maximum drawdown of -4.62%. Use the drawdown chart below to compare losses from any high point for SPY and MINT.
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Drawdown Indicators
| SPY | MINT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.19% | -4.62% | -50.57% |
Max Drawdown (1Y)Largest decline over 1 year | -8.88% | -0.05% | -8.83% |
Max Drawdown (3Y)Largest decline over 3 years | -18.76% | -0.16% | -18.60% |
Max Drawdown (5Y)Largest decline over 5 years | -24.50% | -2.42% | -22.08% |
Max Drawdown (10Y)Largest decline over 10 years | -33.72% | -4.62% | -29.10% |
Current DrawdownCurrent decline from peak | -2.35% | 0.00% | -2.35% |
Average DrawdownAverage peak-to-trough decline | -9.04% | -0.17% | -8.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 0.00% | +1.97% |
Volatility
SPY vs. MINT - Volatility Comparison
State Street SPDR S&P 500 ETF (SPY) has a higher volatility of 4.34% compared to PIMCO Enhanced Short Maturity Active ETF (MINT) at 0.09%. This indicates that SPY's price experiences larger fluctuations and is considered to be riskier than MINT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPY | MINT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.34% | 0.09% | +4.25% |
Volatility (6M)Calculated over the trailing 6-month period | 9.58% | 0.20% | +9.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.29% | 0.27% | +12.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.12% | 0.58% | +16.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.96% | 0.95% | +17.01% |
SPY vs. MINT - Expense Ratio Comparison
SPY has a 0.09% expense ratio, which is lower than MINT's 0.36% expense ratio.
Dividends
SPY vs. MINT - Dividend Comparison
SPY's dividend yield for the trailing twelve months is around 1.00%, less than MINT's 4.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MINT PIMCO Enhanced Short Maturity Active ETF | 4.28% | 4.63% | 5.22% | 4.91% | 1.90% | 0.44% | 1.15% | 2.65% | 2.32% | 1.61% | 1.35% | 0.88% |
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 MINT have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPY has higher volatility (4.34%) compared to MINT (0.09%). In terms of maximum drawdown, SPY dropped -55.19% vs MINT's -4.62%.
On 10-year performance, SPY leads with 15.42% vs 2.72% for MINT. On fees, SPY is cheaper at 0.09% per year. On volatility, MINT has been the lower-risk option at 0.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPY has performed better with a 15.42% return vs 2.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPY is cheaper with a 0.09% expense ratio, compared with 0.36% for MINT.
MINT has the higher dividend yield at 4.28%, compared with 1.00% for SPY.
SPY is categorized as S&P 500, while MINT is Ultrashort Bond. They also come from different issuers: State Street and PIMCO. Their fees differ too: 0.09% for SPY and 0.36% for MINT.
MINT currently has the higher Sharpe Ratio (17.51 vs 1.98), 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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