SPY vs. USD=X
SPY (State Street SPDR S&P 500 ETF) is S&P 500 fund tracking the S&P 500 Index, while USD=X (USD Cash) is a currency. Over the past 10 years, SPY returned 15.42%/yr vs 0.00%/yr for USD=X.
Performance
SPY vs. USD=X - Performance Comparison
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Returns By Period
SPY
- 1D
- 0.54%
- 1M
- -0.08%
- YTD
- 9.07%
- 6M
- 9.42%
- 1Y
- 24.27%
- 3Y*
- 20.86%
- 5Y*
- 13.36%
- 10Y*
- 15.42%
USD=X
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.00%
- 1Y
- 0.00%
- 3Y*
- 0.00%
- 5Y*
- 0.00%
- 10Y*
- 0.00%
SPY vs. USD=X - 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% |
USD=X USD Cash | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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Return for Risk
SPY vs. USD=X — Risk / Return Rank
SPY
USD=X
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SPY vs. USD=X - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR S&P 500 ETF (SPY) and USD Cash (USD=X). 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 | USD=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.36 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.74 | — | — |
| Martin ratioReturn relative to average drawdown | 12.39 | — | — |
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Drawdowns
SPY vs. USD=X - Drawdown Comparison
The maximum SPY drawdown since its inception was -55.19%, which is greater than USD=X's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for SPY and USD=X.
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Drawdown Indicators
| SPY | USD=X | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.19% | 0.00% | -55.19% |
Max Drawdown (1Y)Largest decline over 1 year | -8.88% | 0.00% | -8.88% |
Max Drawdown (3Y)Largest decline over 3 years | -18.76% | 0.00% | -18.76% |
Max Drawdown (5Y)Largest decline over 5 years | -24.50% | 0.00% | -24.50% |
Max Drawdown (10Y)Largest decline over 10 years | -33.72% | 0.00% | -33.72% |
Current DrawdownCurrent decline from peak | -2.35% | 0.00% | -2.35% |
Average DrawdownAverage peak-to-trough decline | -9.04% | 0.00% | -9.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 0.00% | +1.97% |
Volatility
SPY vs. USD=X - Volatility Comparison
State Street SPDR S&P 500 ETF (SPY) has a higher volatility of 4.34% compared to USD Cash (USD=X) at 0.00%. This indicates that SPY's price experiences larger fluctuations and is considered to be riskier than USD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPY | USD=X | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.34% | 0.00% | +4.34% |
Volatility (6M)Calculated over the trailing 6-month period | 9.58% | 0.00% | +9.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.29% | 0.00% | +12.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.12% | 0.00% | +17.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.96% | 0.00% | +17.96% |
Frequently Asked Questions
SPY has higher volatility (4.34%) compared to USD=X (0.00%). In terms of maximum drawdown, SPY dropped -55.19% vs USD=X's 0.00%.
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