UPST vs. IGV
UPST (Upstart Holdings, Inc.) is a stock, while IGV (iShares Expanded Tech-Software Sector ETF) is Technology Equities fund tracking the S&P North American Expanded Technology Software Index. Over the past 5 years, UPST returned -24.20%/yr vs 2.55%/yr for IGV. A 0.54 correlation means they provide meaningful diversification when combined.
Performance
UPST vs. IGV - Performance Comparison
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Returns By Period
In the year-to-date period, UPST achieves a -28.38% return, which is significantly lower than IGV's -17.38% return.
UPST
- 1D
- -3.42%
- 1M
- 9.66%
- YTD
- -28.38%
- 6M
- -35.78%
- 1Y
- -46.01%
- 3Y*
- 1.31%
- 5Y*
- -24.20%
- 10Y*
- —
IGV
- 1D
- -2.00%
- 1M
- -7.11%
- YTD
- -17.38%
- 6M
- -19.85%
- 1Y
- -16.92%
- 3Y*
- 9.05%
- 5Y*
- 2.55%
- 10Y*
- 15.70%
UPST vs. IGV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
UPST Upstart Holdings, Inc. | -28.38% | -28.98% | 50.69% | 209.08% | -91.26% | 271.29% | 56.73% |
IGV iShares Expanded Tech-Software Sector ETF | -17.38% | 5.56% | 23.41% | 58.56% | -35.65% | 12.30% | 3.24% |
Correlation
The correlation between UPST and IGV is 0.50, 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 | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Dec 16, 2020 | 0.54 |
The correlation between UPST and IGV has been stable across timeframes, ranging from 0.50 to 0.56 - a consistent structural relationship.
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Return for Risk
UPST vs. IGV — Risk / Return Rank
UPST
IGV
UPST vs. IGV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Upstart Holdings, Inc. (UPST) and iShares Expanded Tech-Software Sector ETF (IGV). 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.
| UPST | IGV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 0.92 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.65 | -0.46 | -0.18 |
| Martin ratioReturn relative to average drawdown | -0.95 | -0.95 | 0.00 |
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Drawdowns
UPST vs. IGV - Drawdown Comparison
The maximum UPST drawdown since its inception was -96.90%, which is greater than IGV's maximum drawdown of -63.45%. Use the drawdown chart below to compare losses from any high point for UPST and IGV.
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Drawdown Indicators
| UPST | IGV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.90% | -63.45% | -33.45% |
Max Drawdown (1Y)Largest decline over 1 year | -71.21% | -36.61% | -34.60% |
Max Drawdown (3Y)Largest decline over 3 years | -72.72% | -36.61% | -36.11% |
Max Drawdown (5Y)Largest decline over 5 years | -96.90% | -45.85% | -51.05% |
Max Drawdown (10Y)Largest decline over 10 years | — | -45.85% | — |
Current DrawdownCurrent decline from peak | -91.97% | -25.86% | -66.11% |
Average DrawdownAverage peak-to-trough decline | -76.24% | -14.46% | -61.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 48.62% | 17.87% | +30.75% |
Volatility
UPST vs. IGV - Volatility Comparison
Upstart Holdings, Inc. (UPST) has a higher volatility of 21.59% compared to iShares Expanded Tech-Software Sector ETF (IGV) at 12.72%. This indicates that UPST's price experiences larger fluctuations and is considered to be riskier than IGV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UPST | IGV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.59% | 12.72% | +8.87% |
Volatility (6M)Calculated over the trailing 6-month period | 50.90% | 24.91% | +25.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 70.59% | 28.33% | +42.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 103.73% | 27.97% | +75.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 113.86% | 26.42% | +87.44% |
Dividends
UPST vs. IGV - Dividend Comparison
UPST has not paid dividends to shareholders, while IGV's dividend yield for the trailing twelve months is around 0.02%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGV iShares Expanded Tech-Software Sector ETF | 0.02% | 0.00% | 0.00% | 0.01% | 0.01% | 0.00% | 0.35% | 0.02% | 0.16% | 0.09% | 0.82% | 0.22% |
UPST Upstart Holdings, 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
UPST and IGV have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UPST has higher volatility (21.59%) compared to IGV (12.72%). In terms of maximum drawdown, UPST dropped -96.90% vs IGV's -63.45%.
IGV currently has the higher Sharpe Ratio (-0.60 vs -0.66), 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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