TAP-A vs. SPY

Last updated Jul 11, 2026

TAP-A (Molson Coors Beverage Company) 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, TAP-A returned -6.49%/yr vs 15.22%/yr for SPY. At a 0.16 correlation, their price movements are largely independent.

Performance

TAP-A vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Molson Coors Beverage Company (TAP-A) 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, TAP-A achieves a -11.58% return, which is significantly lower than SPY's 11.30% return. Over the past 10 years, TAP-A has underperformed SPY with an annualized return of -6.49%, while SPY has yielded a comparatively higher 15.22% annualized return.

TAP-A

• 1D: -14.81%
• 1M: -10.86%
• 6M: -15.21%
• YTD: -11.58%
• 1Y: -23.47%
• 3Y*: -12.56%
• 5Y*: -5.99%
• 10Y*: -6.49%

SPY

• 1D: 0.43%
• 1M: 2.04%
• 6M: 9.35%
• YTD: 11.30%
• 1Y: 22.40%
• 3Y*: 20.99%
• 5Y*: 13.15%
• 10Y*: 15.22%

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

TAP-A vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TAP-A Molson Coors Beverage Company	-11.58%	-15.84%	-8.93%	-13.73%	36.05%	-6.40%	-3.09%	9.18%	-24.67%	-12.69%
SPY State Street SPDR S&P 500 ETF	11.30%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Correlation

The correlation between TAP-A and SPY is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.03
Correlation (3Y) Calculated over the trailing 3-year period	0.04
Correlation (5Y) Calculated over the trailing 5-year period	0.06
Correlation (10Y) Calculated over the trailing 10-year period	0.05
Correlation (All Time) Calculated using the full available price history since Feb 27, 2006	0.16

The correlation between TAP-A and SPY shifts across timeframes, from -0.03 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.

Return for Risk

TAP-A vs. SPY — Risk / Return Rank

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

TAP-A

TAP-A Risk / Return Rank: 13
TAP-A Sharpe Ratio Rank: 19
TAP-A Sortino Ratio Rank: 20
TAP-A Omega Ratio Rank: 12
TAP-A Calmar Ratio Rank: 10
TAP-A Martin Ratio Rank: 2

SPY

SPY Risk / Return Rank: 67
SPY Sharpe Ratio Rank: 68
SPY Sortino Ratio Rank: 66
SPY Omega Ratio Rank: 67
SPY Calmar Ratio Rank: 62
SPY Martin Ratio Rank: 73

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.

TAP-A vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Molson Coors Beverage Company (TAP-A) 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.

	TAP-A	SPY	Difference
Sharpe ratio: Return per unit of total volatility	-0.57	1.76	-2.33
Sortino ratio: Return per unit of downside risk	-0.61	2.42	-3.03
Omega ratio: Gain probability vs. loss probability	0.86	1.32	-0.46
Calmar ratio: Return relative to maximum drawdown	-0.84	2.48	-3.33
Martin ratio: Return relative to average drawdown	-1.84	10.83	-12.67

TAP-A vs. SPY - Sharpe Ratio Comparison

The current TAP-A Sharpe Ratio is -0.57, which is lower than the SPY Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of TAP-A 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

TAP-A vs. SPY - Drawdown Comparison

The maximum TAP-A drawdown since its inception was -68.56%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for TAP-A and SPY.

Drawdown Indicators

	TAP-A	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-68.56%	-55.19%	-13.37%
Max Drawdown (1Y) Largest decline over 1 year	-26.47%	-8.88%	-17.59%
Max Drawdown (3Y) Largest decline over 3 years	-38.63%	-18.76%	-19.87%
Max Drawdown (5Y) Largest decline over 5 years	-46.38%	-24.50%	-21.88%
Max Drawdown (10Y) Largest decline over 10 years	-58.32%	-33.72%	-24.60%
Current Drawdown Current decline from peak	-53.68%	-0.35%	-53.33%
Average Drawdown Average peak-to-trough decline	-34.98%	-9.03%	-25.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.08%	2.03%	+10.05%

Volatility

TAP-A vs. SPY - Volatility Comparison

Molson Coors Beverage Company (TAP-A) has a higher volatility of 21.67% compared to State Street SPDR S&P 500 ETF (SPY) at 4.52%. This indicates that TAP-A'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.

Volatility by Period

	TAP-A	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.67%	4.52%	+17.15%
Volatility (6M) Calculated over the trailing 6-month period	34.23%	9.98%	+24.25%
Volatility (1Y) Calculated over the trailing 1-year period	39.04%	12.55%	+26.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.68%	17.16%	+22.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.70%	17.92%	+26.78%

Dividends

TAP-A vs. SPY - Dividend Comparison

TAP-A's dividend yield for the trailing twelve months is around 4.71%, more than SPY's 1.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPY State Street SPDR S&P 500 ETF	1.00%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%
TAP-A Molson Coors Beverage Company	4.71%	4.04%	3.07%	2.53%	1.97%	1.17%	0.91%	3.00%	2.65%	1.95%	1.67%	1.75%

Frequently Asked Questions

Can I hold both TAP-A and SPY in my portfolio?

TAP-A and SPY have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TAP-A or SPY?

TAP-A has higher volatility (21.67%) compared to SPY (4.52%). In terms of maximum drawdown, TAP-A dropped -68.56% vs SPY's -55.19%.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (1.76 vs -0.57), 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.