TOST vs. SPY
TOST (Toast, 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, TOST returned 4.04%/yr vs 21.27%/yr for SPY. A 0.55 correlation means they provide meaningful diversification when combined.
Performance
TOST vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, TOST achieves a -31.68% return, which is significantly lower than SPY's 9.74% return.
TOST
- 1D
- -1.62%
- 1M
- 4.75%
- YTD
- -31.68%
- 6M
- -34.92%
- 1Y
- -42.72%
- 3Y*
- 4.04%
- 5Y*
- —
- 10Y*
- —
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%
TOST vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
TOST Toast, Inc. | -31.68% | -2.58% | 99.62% | 1.28% | -48.06% | -46.81% |
SPY State Street SPDR S&P 500 ETF | 9.74% | 17.72% | 24.89% | 26.18% | -18.18% | 9.92% |
Correlation
The correlation between TOST and SPY is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2021 | 0.55 |
The correlation between TOST and SPY shifts across timeframes, from 0.36 (1 year) to 0.55 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TOST vs. SPY — Risk / Return Rank
TOST
SPY
TOST vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Toast, Inc. (TOST) 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.
| TOST | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.09 | ||
| Sortino ratioReturn per unit of downside risk | -4.17 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.39 | -0.54 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 3.01 | -3.80 |
| Martin ratioReturn relative to average drawdown | -1.28 | 13.54 | -14.82 |
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Drawdowns
TOST vs. SPY - Drawdown Comparison
The maximum TOST drawdown since its inception was -80.57%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for TOST and SPY.
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Drawdown Indicators
| TOST | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.57% | -55.19% | -25.38% |
Max Drawdown (1Y)Largest decline over 1 year | -54.71% | -8.88% | -45.83% |
Max Drawdown (3Y)Largest decline over 3 years | -54.71% | -18.76% | -35.95% |
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 | -62.83% | -1.75% | -61.08% |
Average DrawdownAverage peak-to-trough decline | -58.02% | -9.04% | -48.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.40% | 1.97% | +31.43% |
Volatility
TOST vs. SPY - Volatility Comparison
Toast, Inc. (TOST) has a higher volatility of 13.95% compared to State Street SPDR S&P 500 ETF (SPY) at 4.64%. This indicates that TOST'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
| TOST | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.95% | 4.64% | +9.31% |
Volatility (6M)Calculated over the trailing 6-month period | 36.63% | 9.75% | +26.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.17% | 12.43% | +33.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 61.15% | 17.14% | +44.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.15% | 17.99% | +43.16% |
Dividends
TOST vs. SPY - Dividend Comparison
TOST has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.01%.
| 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% |
TOST Toast, 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
TOST and SPY have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TOST has higher volatility (13.95%) compared to SPY (4.64%). In terms of maximum drawdown, TOST dropped -80.57% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (2.16 vs -0.93), 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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