TAP-A vs. SPY

Last updated Jun 23, 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 -5.93%/yr vs 15.70%/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 -7.87% return, which is significantly lower than SPY's 9.74% return. Over the past 10 years, TAP-A has underperformed SPY with an annualized return of -5.93%, while SPY has yielded a comparatively higher 15.70% annualized return.

TAP-A

• 1D: -7.69%
• 1M: 2.51%
• YTD: -7.87%
• 6M: -15.75%
• 1Y: -16.00%
• 3Y*: -11.59%
• 5Y*: -3.53%
• 10Y*: -5.93%

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)

TAP-A vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TAP-A Molson Coors Beverage Company	-7.87%	-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	9.74%	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 -0.01, 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	-0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.05
Correlation (5Y) Calculated over the trailing 5-year period	0.07
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 -0.01 (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: 17
TAP-A Sharpe Ratio Rank: 21
TAP-A Sortino Ratio Rank: 21
TAP-A Omega Ratio Rank: 15
TAP-A Calmar Ratio Rank: 19
TAP-A Martin Ratio Rank: 9

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.

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	-0.47	2.16	-2.63
Sortino ratio: Return per unit of downside risk	-0.47	2.91	-3.38
Omega ratio: Gain probability vs. loss probability	0.90	1.39	-0.50
Calmar ratio: Return relative to maximum drawdown	-0.64	3.01	-3.65
Martin ratio: Return relative to average drawdown	-1.38	13.54	-14.91

TAP-A vs. SPY - Sharpe Ratio Comparison

The current TAP-A Sharpe Ratio is -0.47, which is lower than the SPY Sharpe Ratio of 2.16. 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	-25.27%	-8.88%	-16.39%
Max Drawdown (3Y) Largest decline over 3 years	-37.63%	-18.76%	-18.87%
Max Drawdown (5Y) Largest decline over 5 years	-45.50%	-24.50%	-21.00%
Max Drawdown (10Y) Largest decline over 10 years	-58.32%	-33.72%	-24.60%
Current Drawdown Current decline from peak	-51.74%	-1.75%	-49.99%
Average Drawdown Average peak-to-trough decline	-34.95%	-9.04%	-25.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.62%	1.97%	+9.65%

Volatility

TAP-A vs. SPY - Volatility Comparison

Molson Coors Beverage Company (TAP-A) has a higher volatility of 12.24% compared to State Street SPDR S&P 500 ETF (SPY) at 4.64%. 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	12.24%	4.64%	+7.60%
Volatility (6M) Calculated over the trailing 6-month period	29.49%	9.75%	+19.74%
Volatility (1Y) Calculated over the trailing 1-year period	34.27%	12.43%	+21.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.98%	17.14%	+21.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.33%	17.99%	+26.34%

Dividends

TAP-A vs. SPY - Dividend Comparison

TAP-A's dividend yield for the trailing twelve months is around 4.52%, 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%
TAP-A Molson Coors Beverage Company	4.52%	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 -0.01, 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 (12.24%) compared to SPY (4.64%). 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 (2.16 vs -0.47), 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.