WAYEX vs. SPY
Compare and contrast key facts about Waycross Long/Short Equity Fund (WAYEX) and State Street SPDR S&P 500 ETF (SPY).
WAYEX is managed by Waycross. It was launched on Apr 28, 2015. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
WAYEX vs. SPY - Performance Comparison
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WAYEX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WAYEX Waycross Long/Short Equity Fund | -7.02% | 13.16% | 22.40% | 18.99% | -11.66% | 11.43% | 22.27% | 21.17% | -8.80% | 13.05% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, WAYEX achieves a -7.02% return, which is significantly lower than SPY's -4.37% return. Over the past 10 years, WAYEX has underperformed SPY with an annualized return of 9.10%, while SPY has yielded a comparatively higher 13.98% annualized return.
WAYEX
- 1D
- -0.36%
- 1M
- -5.87%
- YTD
- -7.02%
- 6M
- -4.88%
- 1Y
- 8.66%
- 3Y*
- 13.91%
- 5Y*
- 7.63%
- 10Y*
- 9.10%
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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WAYEX vs. SPY - Expense Ratio Comparison
WAYEX has a 2.27% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
WAYEX vs. SPY — Risk / Return Rank
WAYEX
SPY
WAYEX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Waycross Long/Short Equity Fund (WAYEX) 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.
| WAYEX | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.90 | 0.93 | -0.03 |
Sortino ratioReturn per unit of downside risk | 1.37 | 1.45 | -0.09 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.22 | -0.04 |
Calmar ratioReturn relative to maximum drawdown | 0.95 | 1.53 | -0.57 |
Martin ratioReturn relative to average drawdown | 4.11 | 7.30 | -3.19 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| WAYEX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.90 | 0.93 | -0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.74 | 0.69 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.79 | 0.78 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.67 | 0.56 | +0.11 |
Correlation
The correlation between WAYEX and SPY is 0.88, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
WAYEX vs. SPY - Dividend Comparison
WAYEX's dividend yield for the trailing twelve months is around 5.69%, more than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
WAYEX Waycross Long/Short Equity Fund | 5.69% | 5.29% | 12.41% | 2.86% | 0.00% | 5.33% | 1.17% | 1.05% | 0.00% | 1.01% | 0.00% | 0.00% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
WAYEX vs. SPY - Drawdown Comparison
The maximum WAYEX drawdown since its inception was -20.77%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for WAYEX and SPY.
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Drawdown Indicators
| WAYEX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.77% | -55.19% | +34.42% |
Max Drawdown (1Y)Largest decline over 1 year | -8.05% | -12.05% | +4.00% |
Max Drawdown (5Y)Largest decline over 5 years | -17.31% | -24.50% | +7.19% |
Max Drawdown (10Y)Largest decline over 10 years | -20.77% | -33.72% | +12.95% |
Current DrawdownCurrent decline from peak | -8.05% | -6.24% | -1.81% |
Average DrawdownAverage peak-to-trough decline | -4.16% | -9.09% | +4.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.86% | 2.52% | -0.66% |
Volatility
WAYEX vs. SPY - Volatility Comparison
The current volatility for Waycross Long/Short Equity Fund (WAYEX) is 2.40%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 5.31%. This indicates that WAYEX experiences smaller price fluctuations and is considered to be less risky 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
| WAYEX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.40% | 5.31% | -2.91% |
Volatility (6M)Calculated over the trailing 6-month period | 5.37% | 9.47% | -4.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.95% | 19.05% | -9.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.36% | 17.06% | -6.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.53% | 17.92% | -6.39% |