TAAAX vs. SPY

Last updated Jun 23, 2026

TAAAX (Thrivent Aggressive Allocation Fund) and SPY (State Street SPDR S&P 500 ETF) are both funds - TAAAX is a Diversified Portfolio fund managed by Thrivent, while SPY is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, TAAAX returned 11.79%/yr vs 15.70%/yr for SPY. With a 0.96 correlation, they move nearly in lockstep. TAAAX charges 0.93%/yr vs 0.09%/yr for SPY.

Performance

TAAAX vs. SPY - Performance Comparison

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

Returns By Period

In the year-to-date period, TAAAX achieves a 10.65% return, which is significantly higher than SPY's 9.74% return. Over the past 10 years, TAAAX has underperformed SPY with an annualized return of 11.79%, while SPY has yielded a comparatively higher 15.70% annualized return.

TAAAX

• 1D: 1.06%
• 1M: 1.90%
• YTD: 10.65%
• 6M: 9.99%
• 1Y: 25.22%
• 3Y*: 19.16%
• 5Y*: 10.74%
• 10Y*: 11.79%

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)

TAAAX vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TAAAX Thrivent Aggressive Allocation Fund	10.65%	15.18%	23.46%	18.79%	-18.19%	19.56%	16.42%	24.52%	-6.90%	14.30%
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 TAAAX and SPY is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jan 3, 2006	0.96

The correlation between TAAAX and SPY has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

TAAAX vs. SPY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TAAAX

TAAAX Risk / Return Rank: 59
TAAAX Sharpe Ratio Rank: 56
TAAAX Sortino Ratio Rank: 52
TAAAX Omega Ratio Rank: 54
TAAAX Calmar Ratio Rank: 63
TAAAX Martin Ratio Rank: 70

SPY

SPY Risk / Return Rank: 68
SPY Sharpe Ratio Rank: 69
SPY Sortino Ratio Rank: 66
SPY Omega Ratio Rank: 68
SPY Calmar Ratio Rank: 63
SPY Martin Ratio Rank: 74

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.

TAAAX vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thrivent Aggressive Allocation Fund (TAAAX) 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.

	TAAAX	SPY	Difference
Sharpe ratio: Return per unit of total volatility	2.03	2.16	-0.13
Sortino ratio: Return per unit of downside risk	2.79	2.91	-0.12
Omega ratio: Gain probability vs. loss probability	1.37	1.39	-0.02
Calmar ratio: Return relative to maximum drawdown	2.90	3.01	-0.12
Martin ratio: Return relative to average drawdown	12.61	13.54	-0.93

TAAAX vs. SPY - Sharpe Ratio Comparison

The current TAAAX Sharpe Ratio is 2.03, which is comparable to the SPY Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of TAAAX 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.

Drawdowns

TAAAX vs. SPY - Drawdown Comparison

The maximum TAAAX drawdown since its inception was -56.23%, roughly equal to the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for TAAAX and SPY.

Drawdown Indicators

	TAAAX	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-56.23%	-55.19%	-1.04%
Max Drawdown (1Y) Largest decline over 1 year	-8.63%	-8.88%	+0.25%
Max Drawdown (3Y) Largest decline over 3 years	-17.38%	-18.76%	+1.38%
Max Drawdown (5Y) Largest decline over 5 years	-29.84%	-24.50%	-5.34%
Max Drawdown (10Y) Largest decline over 10 years	-33.33%	-33.72%	+0.39%
Current Drawdown Current decline from peak	-0.27%	-1.75%	+1.48%
Average Drawdown Average peak-to-trough decline	-9.74%	-9.04%	-0.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	1.97%	+0.01%

Volatility

TAAAX vs. SPY - Volatility Comparison

Thrivent Aggressive Allocation Fund (TAAAX) and State Street SPDR S&P 500 ETF (SPY) have volatilities of 4.65% and 4.64%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TAAAX	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.65%	4.64%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	9.91%	9.75%	+0.16%
Volatility (1Y) Calculated over the trailing 1-year period	12.31%	12.43%	-0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.88%	17.14%	-0.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.78%	17.99%	-1.21%

TAAAX vs. SPY - Expense Ratio Comparison

TAAAX has a 0.93% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

TAAAX vs. SPY - Dividend Comparison

TAAAX's dividend yield for the trailing twelve months is around 6.91%, more than SPY's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
TAAAX Thrivent Aggressive Allocation Fund	6.91%	7.64%	15.10%	3.64%	2.40%	10.30%	3.01%	6.32%	9.31%	0.39%	0.52%	0.28%

Frequently Asked Questions

Can I hold both TAAAX and SPY in my portfolio?

With a correlation of 0.97, TAAAX and SPY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, TAAAX or SPY?

TAAAX has higher volatility (4.65%) compared to SPY (4.64%). In terms of maximum drawdown, TAAAX dropped -56.23% vs SPY's -55.19%.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (2.16 vs 2.03), 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.