SPYX vs. COIN

Last updated Aug 4, 2026

SPYX (State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF) is S&P 500 fund tracking the S&P 500 Fossil Fuel Reserves Free Index, while COIN (Coinbase Global, Inc.) is a stock. Over the past 5 years, SPYX returned 12.69%/yr vs -9.73%/yr for COIN. Their 0.54 correlation means they have sometimes moved together and sometimes differently.

Performance

SPYX vs. COIN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX) and Coinbase Global, Inc. (COIN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPYX achieves a 11.27% return, which is significantly higher than COIN's -35.22% return.

SPYX

• 1D: 1.53%
• 1M: 1.78%
• 6M: 9.47%
• YTD: 11.27%
• 1Y: 22.78%
• 3Y*: 20.85%
• 5Y*: 12.69%
• 10Y*: 15.17%
• ALL TIME*: 14.73%

COIN

• 1D: 0.16%
• 1M: -11.47%
• 6M: -22.02%
• YTD: -35.22%
• 1Y: -53.45%
• 3Y*: 18.83%
• 5Y*: -9.73%
• 10Y*: —
• ALL TIME*: -16.49%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
COIN Coinbase Global, Inc.	$1.41B	$1.18B	$1.48B
SPYX State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF	$5.78M	$4.71M	$6.15M

SPYX vs. COIN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SPYX State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF	11.27%	17.87%	25.46%	26.38%	-19.59%	15.87%
COIN Coinbase Global, Inc.	-35.22%	-8.92%	42.77%	391.44%	-85.98%	-33.76%

Correlation

The correlation between SPYX and COIN is 0.57, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.57
Correlation (3Y) Balances recent behavior with more history.	0.53
Correlation (5Y) Shows whether the relationship held over a longer period.	0.56
Correlation (All Time) Calculated using the full available price history since Apr 14, 2021	0.54

The correlation between SPYX and COIN has been stable across timeframes, ranging from 0.53 to 0.57 - a consistent structural relationship.

Return for Risk

SPYX vs. COIN — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SPYX

SPYX Risk / Return Rank: 72
SPYX Sharpe Ratio Rank: 75
SPYX Sortino Ratio Rank: 72
SPYX Omega Ratio Rank: 73
SPYX Calmar Ratio Rank: 64
SPYX Martin Ratio Rank: 77

COIN

COIN Risk / Return Rank: 11
COIN Sharpe Ratio Rank: 9
COIN Sortino Ratio Rank: 10
COIN Omega Ratio Rank: 13
COIN Calmar Ratio Rank: 10
COIN Martin Ratio Rank: 12

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SPYX vs. COIN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX) and Coinbase Global, Inc. (COIN). 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.

	SPYX	COIN	Difference
Sharpe ratio: Return per unit of total volatility	1.75	-0.79	+2.54
Sortino ratio: Return per unit of downside risk	2.42	-1.15	+3.57
Omega ratio: Gain probability vs. loss probability	1.31	0.88	+0.44
Calmar ratio: Return relative to maximum drawdown	2.33	-0.84	+3.17
Martin ratio: Return relative to average drawdown	10.03	-1.26	+11.30

SPYX vs. COIN - Sharpe Ratio Comparison

The current SPYX Sharpe Ratio is 1.75, which is higher than the COIN Sharpe Ratio of -0.79. The chart below compares the historical Sharpe Ratios of SPYX and COIN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SPYX vs. COIN - Drawdown Comparison

The maximum SPYX drawdown since its inception was -32.84%, smaller than the maximum COIN drawdown of -91.46%. Use the drawdown chart below to compare losses from any high point for SPYX and COIN.

Drawdown Indicators

	SPYX	COIN	Difference
Max Drawdown Largest peak-to-trough decline	-32.84%	-91.46%	+58.62%
Max Drawdown (1Y) Largest decline over 1 year	-9.84%	-63.57%	+53.73%
Max Drawdown (3Y) Largest decline over 3 years	-18.74%	-66.39%	+47.65%
Max Drawdown (5Y) Largest decline over 5 years	-26.14%	-90.90%	+64.76%
Max Drawdown (10Y) Largest decline over 10 years	-32.84%	—	—
Current Drawdown Current decline from peak	0.00%	-65.10%	+65.10%
Average Drawdown Average peak-to-trough decline	-4.49%	-52.83%	+48.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.28%	42.36%	-40.08%

Volatility

SPYX vs. COIN - Volatility Comparison

The current volatility for State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX) is 3.83%, while Coinbase Global, Inc. (COIN) has a volatility of 19.81%. This indicates that SPYX experiences smaller price fluctuations and is considered to be less risky than COIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYX	COIN	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.83%	19.81%	-15.98%
Volatility (6M) Calculated over the trailing 6-month period	10.44%	54.87%	-44.43%
Volatility (1Y) Calculated over the trailing 1-year period	13.10%	67.81%	-54.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.18%	86.17%	-68.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.03%	85.09%	-67.06%

Dividends

SPYX vs. COIN - Dividend Comparison

SPYX's dividend yield for the trailing twelve months is around 0.85%, while COIN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COIN Coinbase Global, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPYX State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF	0.85%	0.91%	1.05%	1.21%	1.41%	1.04%	1.33%	1.56%	1.92%	1.68%	1.91%	0.16%

Frequently Asked Questions

Can I hold both SPYX and COIN in my portfolio?

SPYX and COIN have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPYX or COIN?

COIN has higher volatility (19.81%) compared to SPYX (3.83%). In terms of maximum drawdown, SPYX dropped -32.84% vs COIN's -91.46%.

Which has better risk-adjusted returns?

SPYX currently has the higher Sharpe Ratio (1.75 vs -0.79), 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.