TMC vs. SPY
TMC (TMC the metals company Inc.) 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 3 years, TMC returned 22.70%/yr vs 20.07%/yr for SPY. At a 0.30 correlation, their price movements are largely independent.
Performance
TMC vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, TMC achieves a -35.33% return, which is significantly lower than SPY's 10.45% return.
TMC
- 1D
- -5.23%
- 1M
- -26.52%
- 6M
- -46.66%
- YTD
- -35.33%
- 1Y
- -39.27%
- 3Y*
- 22.70%
- 5Y*
- —
- 10Y*
- —
SPY
- 1D
- -0.77%
- 1M
- 1.26%
- 6M
- 8.34%
- YTD
- 10.45%
- 1Y
- 21.46%
- 3Y*
- 20.07%
- 5Y*
- 12.94%
- 10Y*
- 15.08%
TMC vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
TMC TMC the metals company Inc. | -35.33% | 450.89% | 1.82% | 42.86% | -62.98% | -81.18% |
SPY State Street SPDR S&P 500 ETF | 10.45% | 17.72% | 24.89% | 26.18% | -18.18% | 6.50% |
Correlation
The correlation between TMC and SPY is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Sep 10, 2021 | 0.30 |
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Return for Risk
TMC vs. SPY — Risk / Return Rank
TMC
SPY
TMC vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TMC the metals company Inc. (TMC) 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.
| TMC | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.13 | ||
| Sortino ratioReturn per unit of downside risk | -2.47 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.31 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.63 | 2.43 | -3.05 |
| Martin ratioReturn relative to average drawdown | -0.96 | 10.57 | -11.53 |
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Drawdowns
TMC vs. SPY - Drawdown Comparison
The maximum TMC drawdown since its inception was -95.58%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for TMC and SPY.
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Drawdown Indicators
| TMC | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.58% | -55.19% | -40.39% |
Max Drawdown (1Y)Largest decline over 1 year | -62.68% | -8.88% | -53.80% |
Max Drawdown (3Y)Largest decline over 3 years | -66.44% | -18.76% | -47.68% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.50% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -67.95% | -1.12% | -66.83% |
Average DrawdownAverage peak-to-trough decline | -79.19% | -9.02% | -70.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 41.04% | 2.03% | +39.01% |
Volatility
TMC vs. SPY - Volatility Comparison
TMC the metals company Inc. (TMC) has a higher volatility of 15.86% compared to State Street SPDR S&P 500 ETF (SPY) at 4.26%. This indicates that TMC'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.
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Volatility by Period
| TMC | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.86% | 4.26% | +11.60% |
Volatility (6M)Calculated over the trailing 6-month period | 63.53% | 10.01% | +53.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 94.27% | 12.60% | +81.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 112.49% | 17.17% | +95.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 112.49% | 17.93% | +94.56% |
Dividends
TMC vs. SPY - Dividend Comparison
TMC has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.00%.
| 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% |
TMC TMC the metals company Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TMC and SPY have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TMC has higher volatility (15.86%) compared to SPY (4.26%). In terms of maximum drawdown, TMC dropped -95.58% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (1.71 vs -0.42), 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.
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