TRV vs. SPY

Last updated Aug 1, 2026

TRV (The Travelers Companies, 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 10 years, TRV returned 14.78%/yr vs 15.07%/yr for SPY. Their 0.51 correlation means they have sometimes moved together and sometimes differently.

Performance

TRV vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in The Travelers Companies, Inc. (TRV) 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, TRV achieves a 30.07% return, which is significantly higher than SPY's 10.13% return. Both investments have delivered pretty close results over the past 10 years, with TRV having a 14.78% annualized return and SPY not far ahead at 15.07%.

TRV

• 1D: -0.43%
• 1M: 9.36%
• 6M: 32.61%
• YTD: 30.07%
• 1Y: 47.23%
• 3Y*: 31.86%
• 5Y*: 22.60%
• 10Y*: 14.78%
• ALL TIME*: 11.85%

SPY

• 1D: 0.72%
• 1M: 0.30%
• 6M: 8.53%
• YTD: 10.13%
• 1Y: 21.49%
• 3Y*: 19.32%
• 5Y*: 12.76%
• 10Y*: 15.07%
• ALL TIME*: 10.79%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SPY State Street SPDR S&P 500 ETF	$37.27B	$35.99B	$39.23B
TRV The Travelers Companies, Inc.	$902.70M	$763.57M	$614.43M

TRV vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TRV The Travelers Companies, Inc.	30.07%	22.38%	28.76%	3.93%	22.42%	13.96%	5.31%	17.00%	-9.64%	13.36%
SPY State Street SPDR S&P 500 ETF	10.13%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Correlation

The correlation between TRV and SPY is -0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.02
Correlation (3Y) Balances recent behavior with more history.	0.17
Correlation (5Y) Shows whether the relationship held over a longer period.	0.30
Correlation (10Y) Provides a long-term view across more market conditions.	0.40
Correlation (All Time) Calculated using the full available price history since Apr 22, 1996	0.51

The correlation between TRV and SPY shifts across timeframes, from -0.02 (1 year) to 0.51 (all time), reflecting how their relationship changes across market environments.

Return for Risk

TRV vs. SPY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TRV

TRV Risk / Return Rank: 94
TRV Sharpe Ratio Rank: 94
TRV Sortino Ratio Rank: 94
TRV Omega Ratio Rank: 93
TRV Calmar Ratio Rank: 96
TRV Martin Ratio Rank: 95

SPY

SPY Risk / Return Rank: 67
SPY Sharpe Ratio Rank: 67
SPY Sortino Ratio Rank: 64
SPY Omega Ratio Rank: 65
SPY Calmar Ratio Rank: 64
SPY Martin Ratio Rank: 76

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TRV vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The Travelers Companies, Inc. (TRV) 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.

	TRV	SPY	Difference
Sharpe ratio: Return per unit of total volatility	2.24	1.52	+0.72
Sortino ratio: Return per unit of downside risk	3.30	2.11	+1.19
Omega ratio: Gain probability vs. loss probability	1.41	1.27	+0.14
Calmar ratio: Return relative to maximum drawdown	5.58	2.20	+3.37
Martin ratio: Return relative to average drawdown	14.16	9.40	+4.76

TRV vs. SPY - Sharpe Ratio Comparison

The current TRV Sharpe Ratio is 2.24, which is higher than the SPY Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of TRV 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

TRV vs. SPY - Drawdown Comparison

The maximum TRV drawdown since its inception was -55.11%, roughly equal to the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for TRV and SPY.

Drawdown Indicators

	TRV	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-55.11%	-55.19%	+0.08%
Max Drawdown (1Y) Largest decline over 1 year	-8.31%	-8.88%	+0.57%
Max Drawdown (3Y) Largest decline over 3 years	-12.47%	-18.76%	+6.29%
Max Drawdown (5Y) Largest decline over 5 years	-18.90%	-24.50%	+5.60%
Max Drawdown (10Y) Largest decline over 10 years	-46.28%	-33.72%	-12.56%
Current Drawdown Current decline from peak	-5.75%	-1.40%	-4.35%
Average Drawdown Average peak-to-trough decline	-11.07%	-9.01%	-2.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.27%	2.08%	+1.19%

Volatility

TRV vs. SPY - Volatility Comparison

The Travelers Companies, Inc. (TRV) has a higher volatility of 11.55% compared to State Street SPDR S&P 500 ETF (SPY) at 3.58%. This indicates that TRV'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

	TRV	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.55%	3.58%	+7.97%
Volatility (6M) Calculated over the trailing 6-month period	16.55%	10.14%	+6.41%
Volatility (1Y) Calculated over the trailing 1-year period	20.71%	12.89%	+7.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.24%	17.18%	+5.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.65%	17.95%	+6.70%

Dividends

TRV vs. SPY - Dividend Comparison

TRV's dividend yield for the trailing twelve months is around 1.22%, 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%
TRV The Travelers Companies, Inc.	1.22%	1.50%	1.72%	2.06%	1.96%	2.23%	2.40%	2.36%	2.53%	2.09%	2.14%	2.11%

Frequently Asked Questions

Can I hold both TRV and SPY in my portfolio?

TRV and SPY have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TRV or SPY?

TRV has higher volatility (11.55%) compared to SPY (3.58%). In terms of maximum drawdown, TRV dropped -55.11% vs SPY's -55.19%.

Which has better risk-adjusted returns?

TRV currently has the higher Sharpe Ratio (2.24 vs 1.52), 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.