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SPY vs. NTES
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPY vs. NTES

Last updated Jun 14, 2026

SPY (State Street SPDR S&P 500 ETF) is S&P 500 fund tracking the S&P 500 Index, while NTES (NetEase, Inc.) is a stock. Over the past 10 years, SPY returned 15.42%/yr vs 16.45%/yr for NTES. At a 0.35 correlation, their price movements are largely independent.

Performance

SPY vs. NTES - Performance Comparison

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

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Returns By Period

In the year-to-date period, SPY achieves a 9.07% return, which is significantly higher than NTES's -7.12% return. Over the past 10 years, SPY has underperformed NTES with an annualized return of 15.42%, while NTES has yielded a comparatively higher 16.45% annualized 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%

NTES

1D
0.17%
1M
8.84%
YTD
-7.12%
6M
-8.13%
1Y
-0.38%
3Y*
12.50%
5Y*
4.39%
10Y*
16.45%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPY vs. NTES - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
NTES
NetEase, Inc.		-7.12%58.28%-1.73%30.59%-27.35%7.11%57.88%34.66%-31.31%62.21%

Correlation

The correlation between SPY and NTES 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

0.29

Correlation (5Y)
Calculated over the trailing 5-year period

0.32

Correlation (10Y)
Calculated over the trailing 10-year period

0.36

Correlation (All Time)
Calculated using the full available price history since Jun 30, 2000

0.35

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

State Street SPDR S&P 500 ETF

NetEase, Inc.

Often compared with SPY:
SPY vs. QQQSPY vs. VOOSPY vs. BRK-BSPY vs. RSPSPY vs. VTISPY vs. SCHDSPY vs. GLD
Often compared with NTES:
NTES vs. TCEHYNTES vs. BIDUNTES vs. SENTES vs. BILINTES vs. AONNTES vs. SAPNTES vs. MSFT

Return for Risk

SPY vs. NTES — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPY
SPY Risk / Return Rank: 7070
Overall Rank
SPY Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
SPY Sortino Ratio Rank: 6969
Sortino Ratio Rank
SPY Omega Ratio Rank: 7171
Omega Ratio Rank
SPY Calmar Ratio Rank: 6363
Calmar Ratio Rank
SPY Martin Ratio Rank: 7676
Martin Ratio Rank
NTES
NTES Risk / Return Rank: 3737
Overall Rank
NTES Sharpe Ratio Rank: 3939
Sharpe Ratio Rank
NTES Sortino Ratio Rank: 3333
Sortino Ratio Rank
NTES Omega Ratio Rank: 3333
Omega Ratio Rank
NTES Calmar Ratio Rank: 4040
Calmar Ratio Rank
NTES Martin Ratio Rank: 3939
Martin Ratio Rank
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. NTES - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR S&P 500 ETF (SPY) and NetEase, Inc. (NTES). 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.

SPYNTESDifference
Sharpe ratioReturn per unit of total volatility
1.98
-0.10

+2.08

Sortino ratioReturn per unit of downside risk
2.68
0.07

+2.62

Omega ratioGain probability vs. loss probability

1.36

1.01

+0.35

Calmar ratioReturn relative to maximum drawdown

2.74

-0.10

+2.84

Martin ratioReturn relative to average drawdown

12.39

-0.17

+12.56

SPY vs. NTES - Sharpe Ratio Comparison

The current SPY Sharpe Ratio is 1.98, which is higher than the NTES Sharpe Ratio of -0.10. The chart below compares the historical Sharpe Ratios of SPY and NTES, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

SPY vs. NTES - Drawdown Comparison

The maximum SPY drawdown since its inception was -55.19%, smaller than the maximum NTES drawdown of -96.54%. Use the drawdown chart below to compare losses from any high point for SPY and NTES.

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Drawdown Indicators

SPYNTESDifference

Max Drawdown

Largest peak-to-trough decline

-55.19%

-96.54%

+41.35%

Max Drawdown (1Y)

Largest decline over 1 year

-8.88%

-30.46%

+21.58%

Max Drawdown (3Y)

Largest decline over 3 years

-18.76%

-33.97%

+15.21%

Max Drawdown (5Y)

Largest decline over 5 years

-24.50%

-51.38%

+26.88%

Max Drawdown (10Y)

Largest decline over 10 years

-33.72%

-57.34%

+23.62%

Current Drawdown

Current decline from peak

-2.35%

-19.45%

+17.10%

Average Drawdown

Average peak-to-trough decline

-9.04%

-24.66%

+15.62%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.97%

17.18%

-15.21%

Volatility

SPY vs. NTES - Volatility Comparison

The current volatility for State Street SPDR S&P 500 ETF (SPY) is 4.34%, while NetEase, Inc. (NTES) has a volatility of 9.60%. This indicates that SPY experiences smaller price fluctuations and is considered to be less risky than NTES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SPYNTESDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.34%

9.60%

-5.26%

Volatility (6M)

Calculated over the trailing 6-month period

9.58%

20.92%

-11.34%

Volatility (1Y)

Calculated over the trailing 1-year period

12.29%

29.31%

-17.02%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.12%

43.67%

-26.55%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.96%

41.81%

-23.85%

Dividends

SPY vs. NTES - Dividend Comparison

SPY's dividend yield for the trailing twelve months is around 1.00%, less than NTES's 2.40% yield.

PositionTTM20252024202320222021202020192018201720162015
NTES
NetEase, Inc.		2.40%2.21%2.74%1.88%2.10%0.80%0.97%3.19%0.71%1.05%1.36%0.98%
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 NTES 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.

NTES has higher volatility (9.60%) compared to SPY (4.34%). In terms of maximum drawdown, SPY dropped -55.19% vs NTES's -96.54%.

SPY currently has the higher Sharpe Ratio (1.98 vs -0.10), 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.

Portfolio Optimizer

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