UPS vs. SPY
UPS (United Parcel Service, 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, UPS returned 3.61%/yr vs 14.91%/yr for SPY. Their 0.59 correlation means they have sometimes moved together and sometimes differently.
Performance
UPS vs. SPY - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with UPS having a 9.42% return and SPY slightly lower at 9.34%. Over the past 10 years, UPS has underperformed SPY with an annualized return of 3.61%, while SPY has yielded a comparatively higher 14.91% annualized return.
UPS
- 1D
- 0.68%
- 1M
- -2.07%
- 6M
- 2.40%
- YTD
- 9.42%
- 1Y
- 29.05%
- 3Y*
- -12.79%
- 5Y*
- -7.16%
- 10Y*
- 3.61%
- ALL TIME*
- 4.78%
SPY
- 1D
- 1.68%
- 1M
- -0.68%
- 6M
- 7.43%
- YTD
- 9.34%
- 1Y
- 18.20%
- 3Y*
- 18.92%
- 5Y*
- 12.60%
- 10Y*
- 14.91%
- ALL TIME*
- 10.77%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $36.82B | $35.23B | $39.04B | |
| $700.91M | $567.93M | $599.18M |
UPS vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UPS United Parcel Service, Inc. | 9.42% | -15.93% | -15.93% | -5.96% | -16.21% | 30.02% | 48.64% | 24.24% | -15.48% | 7.14% |
SPY State Street SPDR S&P 500 ETF | 9.34% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Correlation
The correlation between UPS and SPY is 0.33, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.33 |
Correlation (3Y) Balances recent behavior with more history. | 0.40 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.52 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.54 |
Correlation (All Time) Calculated using the full available price history since Nov 10, 1999 | 0.59 |
Over the past year, the correlation between UPS and SPY has dropped to 0.33 - well below their long-term average of 0.59, suggesting their price drivers have been diverging.
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Return for Risk
UPS vs. SPY — Risk / Return Rank
UPS
SPY
UPS vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for United Parcel Service, Inc. (UPS) 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.
| UPS | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.54 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.25 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.47 | 2.06 | -0.59 |
| Martin ratioReturn relative to average drawdown | 3.60 | 8.77 | -5.17 |
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Drawdowns
UPS vs. SPY - Drawdown Comparison
The maximum UPS drawdown since its inception was -57.92%, roughly equal to the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for UPS and SPY.
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Drawdown Indicators
| UPS | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.92% | -55.19% | -2.73% |
Max Drawdown (1Y)Largest decline over 1 year | -19.90% | -8.88% | -11.02% |
Max Drawdown (3Y)Largest decline over 3 years | -49.96% | -18.76% | -31.20% |
Max Drawdown (5Y)Largest decline over 5 years | -57.92% | -24.50% | -33.42% |
Max Drawdown (10Y)Largest decline over 10 years | -57.92% | -33.72% | -24.20% |
Current DrawdownCurrent decline from peak | -43.73% | -2.10% | -41.63% |
Average DrawdownAverage peak-to-trough decline | -15.45% | -9.01% | -6.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.08% | 2.08% | +6.00% |
Volatility
UPS vs. SPY - Volatility Comparison
United Parcel Service, Inc. (UPS) has a higher volatility of 10.51% compared to State Street SPDR S&P 500 ETF (SPY) at 3.50%. This indicates that UPS'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
| UPS | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.51% | 3.50% | +7.01% |
Volatility (6M)Calculated over the trailing 6-month period | 23.87% | 10.13% | +13.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.22% | 12.88% | +16.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.71% | 17.18% | +11.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.83% | 17.95% | +9.88% |
Dividends
UPS vs. SPY - Dividend Comparison
UPS's dividend yield for the trailing twelve months is around 6.23%, 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% |
UPS United Parcel Service, Inc. | 6.23% | 6.61% | 5.17% | 4.12% | 3.50% | 1.90% | 2.40% | 3.28% | 3.73% | 2.79% | 2.72% | 3.03% |
Frequently Asked Questions
UPS and SPY have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UPS has higher volatility (10.51%) compared to SPY (3.50%). In terms of maximum drawdown, UPS dropped -57.92% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (1.42 vs 1.01), 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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