TEBRX vs. SPY

Last updated Jun 3, 2026

TEBRX (Teberg Fund) and SPY (State Street SPDR S&P 500 ETF) are both funds - TEBRX is a Tactical Allocation fund managed by Teberg, while SPY is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, TEBRX returned 14.96%/yr vs 15.57%/yr for SPY. Their correlation of 0.86 suggests significant overlap in exposure. TEBRX charges 1.75%/yr vs 0.09%/yr for SPY.

Performance

TEBRX vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Teberg Fund (TEBRX) 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, TEBRX achieves a 26.95% return, which is significantly higher than SPY's 11.69% return. Both investments have delivered pretty close results over the past 10 years, with TEBRX having a 14.96% annualized return and SPY not far ahead at 15.57%.

TEBRX

• 1D: 0.49%
• 1M: 10.09%
• YTD: 26.95%
• 6M: 26.93%
• 1Y: 50.40%
• 3Y*: 27.57%
• 5Y*: 15.88%
• 10Y*: 14.96%

SPY

• 1D: 0.14%
• 1M: 5.40%
• YTD: 11.69%
• 6M: 12.09%
• 1Y: 29.62%
• 3Y*: 22.64%
• 5Y*: 14.20%
• 10Y*: 15.57%

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

TEBRX vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TEBRX Teberg Fund	26.95%	18.67%	20.76%	34.92%	-22.47%	25.02%	20.61%	26.55%	-6.70%	15.25%
SPY State Street SPDR S&P 500 ETF	11.69%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Correlation

The correlation between TEBRX and SPY is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jan 3, 2003	0.86

The correlation between TEBRX and SPY has been stable across timeframes, ranging from 0.86 to 0.94 - a consistent structural relationship.

Return for Risk

TEBRX vs. SPY — Risk / Return Rank

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

TEBRX

TEBRX Risk / Return Rank: 91
TEBRX Sharpe Ratio Rank: 94
TEBRX Sortino Ratio Rank: 88
TEBRX Omega Ratio Rank: 84
TEBRX Calmar Ratio Rank: 92
TEBRX Martin Ratio Rank: 95

SPY

SPY Risk / Return Rank: 75
SPY Sharpe Ratio Rank: 77
SPY Sortino Ratio Rank: 75
SPY Omega Ratio Rank: 76
SPY Calmar Ratio Rank: 68
SPY Martin Ratio Rank: 80

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.

TEBRX vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Teberg Fund (TEBRX) 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.

	TEBRX	SPY	Difference
Sharpe ratio Return per unit of total volatility	3.26	2.52	+0.74
Sortino ratio Return per unit of downside risk	4.23	3.42	+0.82
Omega ratio Gain probability vs. loss probability	1.57	1.46	+0.11
Calmar ratio Return relative to maximum drawdown	5.06	3.42	+1.64
Martin ratio Return relative to average drawdown	22.48	15.93	+6.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TEBRX vs. SPY - Sharpe Ratio Comparison

The current TEBRX Sharpe Ratio is 3.26, which is comparable to the SPY Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of TEBRX 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.

Sharpe Ratios by Period

	TEBRX	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.26	2.52	+0.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.84	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.80	0.87	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.59	-0.01

Drawdowns

TEBRX vs. SPY - Drawdown Comparison

The maximum TEBRX drawdown since its inception was -39.10%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for TEBRX and SPY.

Drawdown Indicators

	TEBRX	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-39.10%	-55.19%	+16.09%
Max Drawdown (1Y) Largest decline over 1 year	-9.95%	-8.88%	-1.07%
Max Drawdown (3Y) Largest decline over 3 years	-18.50%	-18.76%	+0.26%
Max Drawdown (5Y) Largest decline over 5 years	-30.35%	-24.50%	-5.85%
Max Drawdown (10Y) Largest decline over 10 years	-32.22%	-33.72%	+1.50%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.75%	-9.05%	+3.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.24%	1.91%	+0.33%

Volatility

TEBRX vs. SPY - Volatility Comparison

Teberg Fund (TEBRX) has a higher volatility of 5.84% compared to State Street SPDR S&P 500 ETF (SPY) at 2.75%. This indicates that TEBRX'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

	TEBRX	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.84%	2.75%	+3.09%
Volatility (6M) Calculated over the trailing 6-month period	12.60%	8.89%	+3.71%
Volatility (1Y) Calculated over the trailing 1-year period	15.83%	11.81%	+4.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.97%	17.05%	+2.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.75%	17.94%	+0.81%

TEBRX vs. SPY - Expense Ratio Comparison

TEBRX has a 1.75% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

TEBRX vs. SPY - Dividend Comparison

TEBRX's dividend yield for the trailing twelve months is around 0.09%, less than SPY's 0.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPY State Street SPDR S&P 500 ETF	0.97%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%
TEBRX Teberg Fund	0.09%	0.12%	1.66%	0.00%	0.00%	0.00%	0.47%	0.60%	0.77%	0.92%	0.00%	10.62%

Frequently Asked Questions

Can I hold both TEBRX and SPY in my portfolio?

With a correlation of 0.91, TEBRX 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, TEBRX or SPY?

TEBRX has higher volatility (5.84%) compared to SPY (2.75%). In terms of maximum drawdown, TEBRX dropped -39.10% vs SPY's -55.19%.

Which has better risk-adjusted returns?

TEBRX currently has the higher Sharpe Ratio (3.26 vs 2.52), 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.