THLV vs. ^GSPC

Last updated Jun 3, 2026

THLV (THOR Equal Weight Low Volatility ETF) is Large Cap Blend Equities fund tracking the THOR Equal Weight Low Volatility Index, while ^GSPC (S&P 500 Index) is an index. Over the past 3 years, THLV returned 12.73%/yr vs 21.12%/yr for ^GSPC. A 0.78 correlation means they provide meaningful diversification when combined.

Performance

THLV vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in THOR Equal Weight Low Volatility ETF (THLV) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, THLV achieves a 9.91% return, which is significantly lower than ^GSPC's 11.16% return.

THLV

• 1D: 0.72%
• 1M: 1.84%
• YTD: 9.91%
• 6M: 10.38%
• 1Y: 19.47%
• 3Y*: 12.73%
• 5Y*: —
• 10Y*: —

^GSPC

• 1D: 0.13%
• 1M: 5.25%
• YTD: 11.16%
• 6M: 11.43%
• 1Y: 28.20%
• 3Y*: 21.12%
• 5Y*: 12.66%
• 10Y*: 13.75%

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

THLV vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
THLV THOR Equal Weight Low Volatility ETF	9.91%	10.50%	9.52%	5.88%	2.55%
^GSPC S&P 500 Index	11.16%	16.39%	23.31%	24.23%	-2.37%

Correlation

The correlation between THLV and ^GSPC is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (All Time) Calculated using the full available price history since Sep 14, 2022	0.78

The correlation between THLV and ^GSPC shifts across timeframes, from 0.66 (1 year) to 0.78 (all time), reflecting how their relationship changes across market environments.

Return for Risk

THLV vs. ^GSPC — Risk / Return Rank

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

THLV

THLV Risk / Return Rank: 57
THLV Sharpe Ratio Rank: 58
THLV Sortino Ratio Rank: 58
THLV Omega Ratio Rank: 57
THLV Calmar Ratio Rank: 58
THLV Martin Ratio Rank: 52

^GSPC

^GSPC Risk / Return Rank: 79
^GSPC Sharpe Ratio Rank: 76
^GSPC Sortino Ratio Rank: 76
^GSPC Omega Ratio Rank: 77
^GSPC Calmar Ratio Rank: 79
^GSPC Martin Ratio Rank: 88

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.

THLV vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for THOR Equal Weight Low Volatility ETF (THLV) and S&P 500 Index (^GSPC). 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.

	THLV	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	1.99	2.39	-0.40
Sortino ratio Return per unit of downside risk	2.80	3.25	-0.45
Omega ratio Gain probability vs. loss probability	1.35	1.43	-0.08
Calmar ratio Return relative to maximum drawdown	2.96	3.16	-0.20
Martin ratio Return relative to average drawdown	9.02	14.61	-5.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

THLV vs. ^GSPC - Sharpe Ratio Comparison

The current THLV Sharpe Ratio is 1.99, which is comparable to the ^GSPC Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of THLV and ^GSPC, 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

	THLV	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.99	2.39	-0.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.75	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.76	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.89	0.47	+0.42

Drawdowns

THLV vs. ^GSPC - Drawdown Comparison

The maximum THLV drawdown since its inception was -13.15%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for THLV and ^GSPC.

Drawdown Indicators

	THLV	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-13.15%	-56.78%	+43.63%
Max Drawdown (1Y) Largest decline over 1 year	-6.66%	-9.10%	+2.44%
Max Drawdown (3Y) Largest decline over 3 years	-13.15%	-18.90%	+5.75%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.43%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.92%	—
Current Drawdown Current decline from peak	-1.61%	0.00%	-1.61%
Average Drawdown Average peak-to-trough decline	-3.74%	-10.72%	+6.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.18%	1.97%	+0.21%

Volatility

THLV vs. ^GSPC - Volatility Comparison

THOR Equal Weight Low Volatility ETF (THLV) has a higher volatility of 3.54% compared to S&P 500 Index (^GSPC) at 2.84%. This indicates that THLV's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	THLV	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.54%	2.84%	+0.70%
Volatility (6M) Calculated over the trailing 6-month period	7.50%	8.98%	-1.48%
Volatility (1Y) Calculated over the trailing 1-year period	9.83%	11.87%	-2.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.74%	16.90%	-5.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.74%	18.07%	-6.33%

Frequently Asked Questions

Can I hold both THLV and ^GSPC in my portfolio?

THLV and ^GSPC have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, THLV or ^GSPC?

THLV has higher volatility (3.54%) compared to ^GSPC (2.84%). In terms of maximum drawdown, THLV dropped -13.15% vs ^GSPC's -56.78%.

Which has better risk-adjusted returns?

^GSPC currently has the higher Sharpe Ratio (2.39 vs 1.99), 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.