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STRS vs. SPY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

STRS vs. SPY

Last updated Jun 23, 2026

STRS (Stratus Properties Inc.) is a stock, while SPY (State Street SPDR S&P 500 ETF) is S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, STRS returned 6.44%/yr vs 15.70%/yr for SPY. At a 0.19 correlation, their price movements are largely independent.

Performance

STRS vs. SPY - Performance Comparison

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

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Returns By Period

In the year-to-date period, STRS achieves a 17.91% return, which is significantly higher than SPY's 9.74% return. Over the past 10 years, STRS has underperformed SPY with an annualized return of 6.44%, while SPY has yielded a comparatively higher 15.70% annualized return.

STRS

1D
-2.16%
1M
-1.42%
YTD
17.91%
6M
16.37%
1Y
45.76%
3Y*
1.99%
5Y*
6.57%
10Y*
6.44%

SPY

1D
-0.31%
1M
0.09%
YTD
9.74%
6M
9.27%
1Y
26.65%
3Y*
21.27%
5Y*
13.51%
10Y*
15.70%
*Multi-year figures are annualized to reflect compound growth (CAGR)

STRS vs. SPY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
STRS
Stratus Properties Inc.		17.91%16.47%-28.07%49.61%-39.37%43.41%-17.69%29.19%-19.26%-5.95%
SPY
State Street SPDR S&P 500 ETF		9.74%17.72%24.89%26.18%-18.18%28.73%18.33%31.22%-4.57%21.71%

Correlation

The correlation between STRS and SPY is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.21

Correlation (3Y)
Calculated over the trailing 3-year period

0.30

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

0.29

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

0.32

Correlation (All Time)
Calculated using the full available price history since Mar 4, 1993

0.19

The correlation between STRS and SPY shifts across timeframes, from 0.19 (all time) to 0.32 (10 years), reflecting how their relationship changes across market environments.

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Stratus Properties Inc.

State Street SPDR S&P 500 ETF

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Return for Risk

STRS vs. SPY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
STRS
STRS Risk / Return Rank: 7272
Overall Rank
STRS Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
STRS Sortino Ratio Rank: 7070
Sortino Ratio Rank
STRS Omega Ratio Rank: 6868
Omega Ratio Rank
STRS Calmar Ratio Rank: 7474
Calmar Ratio Rank
STRS Martin Ratio Rank: 7575
Martin Ratio Rank
SPY
SPY Risk / Return Rank: 6868
Overall Rank
SPY Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
SPY Sortino Ratio Rank: 6666
Sortino Ratio Rank
SPY Omega Ratio Rank: 6868
Omega Ratio Rank
SPY Calmar Ratio Rank: 6363
Calmar Ratio Rank
SPY Martin Ratio Rank: 7474
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.

STRS vs. SPY - Risk-Adjusted Trends Comparison

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

STRSSPYDifference
Sharpe ratioReturn per unit of total volatility
0.99
2.16

-1.17

Sortino ratioReturn per unit of downside risk
1.70
2.91

-1.21

Omega ratioGain probability vs. loss probability

1.20

1.39

-0.19

Calmar ratioReturn relative to maximum drawdown

1.87

3.01

-1.15

Martin ratioReturn relative to average drawdown

4.79

13.54

-8.75

STRS vs. SPY - Sharpe Ratio Comparison

The current STRS Sharpe Ratio is 0.99, which is lower than the SPY Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of STRS and SPY, 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

STRS vs. SPY - Drawdown Comparison

The maximum STRS drawdown since its inception was -87.61%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for STRS and SPY.

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Drawdown Indicators

STRSSPYDifference

Max Drawdown

Largest peak-to-trough decline

-87.61%

-55.19%

-32.42%

Max Drawdown (1Y)

Largest decline over 1 year

-24.64%

-8.88%

-15.76%

Max Drawdown (3Y)

Largest decline over 3 years

-48.79%

-18.76%

-30.03%

Max Drawdown (5Y)

Largest decline over 5 years

-61.14%

-24.50%

-36.64%

Max Drawdown (10Y)

Largest decline over 10 years

-61.93%

-33.72%

-28.21%

Current Drawdown

Current decline from peak

-28.24%

-1.75%

-26.49%

Average Drawdown

Average peak-to-trough decline

-37.21%

-9.04%

-28.17%

Ulcer Index

Depth and duration of drawdowns from previous peaks

9.62%

1.97%

+7.65%

Volatility

STRS vs. SPY - Volatility Comparison

Stratus Properties Inc. (STRS) has a higher volatility of 8.09% compared to State Street SPDR S&P 500 ETF (SPY) at 4.64%. This indicates that STRS's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

STRSSPYDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.09%

4.64%

+3.45%

Volatility (6M)

Calculated over the trailing 6-month period

24.80%

9.75%

+15.05%

Volatility (1Y)

Calculated over the trailing 1-year period

46.75%

12.43%

+34.32%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

47.95%

17.14%

+30.81%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

51.30%

17.99%

+33.31%

Dividends

STRS vs. SPY - Dividend Comparison

STRS has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.01%.

PositionTTM20252024202320222021202020192018201720162015
SPY
State Street SPDR S&P 500 ETF		1.01%1.07%1.21%1.40%1.65%1.20%1.52%1.75%2.04%1.80%2.03%2.06%
STRS
Stratus Properties Inc.		0.00%0.00%0.00%0.00%24.21%0.00%0.00%0.00%0.00%3.37%0.00%0.00%

Frequently Asked Questions

STRS and SPY have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

STRS has higher volatility (8.09%) compared to SPY (4.64%). In terms of maximum drawdown, STRS dropped -87.61% vs SPY's -55.19%.

SPY currently has the higher Sharpe Ratio (2.16 vs 0.99), 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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