T vs. SPY
T (AT&T 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, T returned 2.99%/yr vs 14.86%/yr for SPY. Their 0.44 correlation means their historical movements had little consistent relationship.
Performance
T vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, T achieves a 1.84% return, which is significantly lower than SPY's 8.96% return. Over the past 10 years, T has underperformed SPY with an annualized return of 2.99%, while SPY has yielded a comparatively higher 14.86% annualized return.
T
- 1D
- 1.20%
- 1M
- 8.92%
- 6M
- 6.63%
- YTD
- 1.84%
- 1Y
- -8.68%
- 3Y*
- 25.55%
- 5Y*
- 9.02%
- 10Y*
- 2.99%
- ALL TIME*
- 9.58%
SPY
- 1D
- 0.02%
- 1M
- 1.39%
- 6M
- 7.26%
- YTD
- 8.96%
- 1Y
- 17.29%
- 3Y*
- 18.85%
- 5Y*
- 12.50%
- 10Y*
- 14.86%
- ALL TIME*
- 10.76%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $33.26B | $34.73B | $38.70B | |
| $2.18B | $2.03B | $1.39B |
T vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
T AT&T Inc. | 1.84% | 13.97% | 44.08% | -2.74% | 5.76% | -8.09% | -21.37% | 45.55% | -22.25% | -4.01% |
SPY State Street SPDR S&P 500 ETF | 8.96% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Correlation
The correlation between T and SPY is -0.21, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.21 |
Correlation (3Y) Balances recent behavior with more history. | -0.01 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.19 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.31 |
Correlation (All Time) Calculated using the full available price history since Jan 29, 1993 | 0.44 |
The correlation between T and SPY shifts across timeframes, from -0.21 (1 year) to 0.44 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
T vs. SPY — Risk / Return Rank
T
SPY
T vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AT&T Inc. (T) 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.
| T | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.73 | ||
| Sortino ratioReturn per unit of downside risk | -2.28 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.25 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.30 | 1.95 | -2.26 |
| Martin ratioReturn relative to average drawdown | -0.66 | 8.40 | -9.06 |
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Drawdowns
T vs. SPY - Drawdown Comparison
The maximum T drawdown since its inception was -64.15%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for T and SPY.
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Drawdown Indicators
| T | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.15% | -55.19% | -8.96% |
Max Drawdown (1Y)Largest decline over 1 year | -28.89% | -8.88% | -20.01% |
Max Drawdown (3Y)Largest decline over 3 years | -28.89% | -18.76% | -10.13% |
Max Drawdown (5Y)Largest decline over 5 years | -32.01% | -24.50% | -7.51% |
Max Drawdown (10Y)Largest decline over 10 years | -42.35% | -33.72% | -8.63% |
Current DrawdownCurrent decline from peak | -14.07% | -2.45% | -11.62% |
Average DrawdownAverage peak-to-trough decline | -15.74% | -9.02% | -6.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.21% | 2.06% | +11.15% |
Volatility
T vs. SPY - Volatility Comparison
AT&T Inc. (T) has a higher volatility of 10.52% compared to State Street SPDR S&P 500 ETF (SPY) at 3.28%. This indicates that T'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
| T | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.52% | 3.28% | +7.24% |
Volatility (6M)Calculated over the trailing 6-month period | 20.87% | 9.88% | +10.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.51% | 12.70% | +11.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.55% | 17.15% | +7.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.00% | 17.94% | +6.06% |
Dividends
T vs. SPY - Dividend Comparison
T's dividend yield for the trailing twelve months is around 4.55%, more than SPY's 1.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPY State Street SPDR S&P 500 ETF | 1.02% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
T AT&T Inc. | 4.55% | 4.47% | 4.87% | 6.62% | 6.66% | 8.46% | 7.23% | 5.22% | 7.01% | 5.04% | 4.51% | 5.46% |
Frequently Asked Questions
T 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.
T has higher volatility (10.52%) compared to SPY (3.28%). In terms of maximum drawdown, T dropped -64.15% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (1.37 vs -0.36), 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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