VNRX vs. SPYD

Last updated Jun 6, 2026

VNRX (VolitionRx Limited) is a stock, while SPYD (State Street SPDR Portfolio S&P 500 High Dividend ETF) is S&P 500 fund tracking the S&P 500 High Dividend Index. Over the past 10 years, VNRX returned -30.69%/yr vs 8.58%/yr for SPYD. At a 0.13 correlation, their price movements are largely independent.

Performance

VNRX vs. SPYD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VolitionRx Limited (VNRX) and State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VNRX achieves a -64.98% return, which is significantly lower than SPYD's 11.88% return. Over the past 10 years, VNRX has underperformed SPYD with an annualized return of -30.69%, while SPYD has yielded a comparatively higher 8.58% annualized return.

VNRX

• 1D: -10.50%
• 1M: -28.11%
• YTD: -64.98%
• 6M: -70.14%
• 1Y: -84.49%
• 3Y*: -61.76%
• 5Y*: -51.63%
• 10Y*: -30.69%

SPYD

• 1D: 0.21%
• 1M: 1.91%
• YTD: 11.88%
• 6M: 12.91%
• 1Y: 19.05%
• 3Y*: 14.60%
• 5Y*: 7.06%
• 10Y*: 8.58%

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

VNRX vs. SPYD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VNRX VolitionRx Limited	-64.98%	-57.40%	-16.32%	-70.49%	-22.61%	-19.28%	-17.93%	161.88%	-38.44%	-35.67%
SPYD State Street SPDR Portfolio S&P 500 High Dividend ETF	11.88%	4.65%	15.34%	3.91%	-1.17%	32.73%	-11.64%	21.20%	-4.89%	12.67%

Correlation

The correlation between VNRX and SPYD is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.10
Correlation (10Y) Calculated over the trailing 10-year period	0.14
Correlation (All Time) Calculated using the full available price history since Oct 23, 2015	0.13

The correlation between VNRX and SPYD shifts across timeframes, from 0.01 (3 years) to 0.14 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

VNRX vs. SPYD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VNRX

VNRX Risk / Return Rank: 5
VNRX Sharpe Ratio Rank: 8
VNRX Sortino Ratio Rank: 2
VNRX Omega Ratio Rank: 4
VNRX Calmar Ratio Rank: 5
VNRX Martin Ratio Rank: 9

SPYD

SPYD Risk / Return Rank: 50
SPYD Sharpe Ratio Rank: 48
SPYD Sortino Ratio Rank: 51
SPYD Omega Ratio Rank: 45
SPYD Calmar Ratio Rank: 56
SPYD Martin Ratio Rank: 48

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VNRX vs. SPYD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VolitionRx Limited (VNRX) and State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD). 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.

	VNRX	SPYD	Difference
Sharpe ratio: Return per unit of total volatility	-0.85	1.64	-2.50
Sortino ratio: Return per unit of downside risk	-2.13	2.47	-4.60
Omega ratio: Gain probability vs. loss probability	0.78	1.28	-0.50
Calmar ratio: Return relative to maximum drawdown	-0.94	2.71	-3.65
Martin ratio: Return relative to average drawdown	-1.38	7.87	-9.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VNRX vs. SPYD - Sharpe Ratio Comparison

The current VNRX Sharpe Ratio is -0.85, which is lower than the SPYD Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of VNRX and SPYD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VNRX	SPYD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.85	1.64	-2.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.59	0.44	-1.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.38	0.44	-0.82
Sharpe Ratio (All Time) Calculated using the full available price history	-0.25	0.48	-0.72

Drawdowns

VNRX vs. SPYD - Drawdown Comparison

The maximum VNRX drawdown since its inception was -98.62%, which is greater than SPYD's maximum drawdown of -46.42%. Use the drawdown chart below to compare losses from any high point for VNRX and SPYD.

Drawdown Indicators

	VNRX	SPYD	Difference
Max Drawdown Largest peak-to-trough decline	-98.62%	-46.42%	-52.20%
Max Drawdown (1Y) Largest decline over 1 year	-90.27%	-7.05%	-83.22%
Max Drawdown (3Y) Largest decline over 3 years	-94.80%	-16.13%	-78.67%
Max Drawdown (5Y) Largest decline over 5 years	-97.83%	-22.25%	-75.58%
Max Drawdown (10Y) Largest decline over 10 years	-98.62%	-46.42%	-52.20%
Current Drawdown Current decline from peak	-98.62%	0.00%	-98.62%
Average Drawdown Average peak-to-trough decline	-49.91%	-6.17%	-43.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	61.39%	2.42%	+58.97%

Volatility

VNRX vs. SPYD - Volatility Comparison

VolitionRx Limited (VNRX) has a higher volatility of 38.70% compared to State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD) at 2.70%. This indicates that VNRX's price experiences larger fluctuations and is considered to be riskier than SPYD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VNRX	SPYD	Difference
Volatility (1M) Calculated over the trailing 1-month period	38.70%	2.70%	+36.00%
Volatility (6M) Calculated over the trailing 6-month period	69.85%	7.72%	+62.13%
Volatility (1Y) Calculated over the trailing 1-year period	99.28%	11.65%	+87.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	88.29%	16.13%	+72.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	80.07%	19.77%	+60.30%

Dividends

VNRX vs. SPYD - Dividend Comparison

VNRX has not paid dividends to shareholders, while SPYD's dividend yield for the trailing twelve months is around 4.15%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPYD State Street SPDR Portfolio S&P 500 High Dividend ETF	4.15%	4.52%	4.31%	4.66%	5.01%	3.68%	4.95%	4.42%	4.75%	4.63%	4.34%	1.13%
VNRX VolitionRx Limited	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

Can I hold both VNRX and SPYD in my portfolio?

VNRX and SPYD have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VNRX or SPYD?

VNRX has higher volatility (38.70%) compared to SPYD (2.70%). In terms of maximum drawdown, VNRX dropped -98.62% vs SPYD's -46.42%.

Which has better risk-adjusted returns?

SPYD currently has the higher Sharpe Ratio (1.64 vs -0.85), 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.