WEBS vs. ^GSPC
WEBS (Daily Dow Jones Internet Bear 3X Shares) is Leveraged Equities fund tracking the Dow Jones Internet Composite Index (300%), while ^GSPC (S&P 500 Index) is an index. Over the past 5 years, WEBS returned -33.46%/yr vs 11.43%/yr for ^GSPC. At a correlation of -0.80, they often move in opposite directions.
Performance
WEBS vs. ^GSPC - Performance Comparison
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Returns By Period
In the year-to-date period, WEBS achieves a -13.48% return, which is significantly lower than ^GSPC's 9.79% return.
WEBS
- 1D
- 1.59%
- 1M
- -12.13%
- 6M
- -13.78%
- YTD
- -13.48%
- 1Y
- -19.36%
- 3Y*
- -45.17%
- 5Y*
- -33.46%
- 10Y*
- —
^GSPC
- 1D
- -0.79%
- 1M
- 1.13%
- 6M
- 7.71%
- YTD
- 9.79%
- 1Y
- 20.06%
- 3Y*
- 18.60%
- 5Y*
- 11.43%
- 10Y*
- 13.27%
WEBS vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
WEBS Daily Dow Jones Internet Bear 3X Shares | -13.48% | -40.66% | -56.62% | -75.58% | 117.15% | -39.82% | -87.18% | -10.90% |
^GSPC S&P 500 Index | 9.79% | 16.39% | 23.31% | 24.23% | -19.44% | 26.89% | 16.26% | 5.01% |
Correlation
The correlation between WEBS and ^GSPC is -0.71, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.82 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2019 | -0.80 |
The correlation between WEBS and ^GSPC shifts across timeframes, from -0.82 (5 years) to -0.71 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
WEBS vs. ^GSPC — Risk / Return Rank
WEBS
^GSPC
WEBS vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Daily Dow Jones Internet Bear 3X Shares (WEBS) and S&P 500 Index (^GSPC). 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.
| WEBS | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.93 | ||
| Sortino ratioReturn per unit of downside risk | -2.32 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.29 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.36 | 2.21 | -2.58 |
| Martin ratioReturn relative to average drawdown | -0.82 | 9.61 | -10.43 |
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Drawdowns
WEBS vs. ^GSPC - Drawdown Comparison
The maximum WEBS drawdown since its inception was -99.63%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for WEBS and ^GSPC.
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Drawdown Indicators
| WEBS | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.63% | -56.78% | -42.85% |
Max Drawdown (1Y)Largest decline over 1 year | -53.54% | -9.10% | -44.44% |
Max Drawdown (3Y)Largest decline over 3 years | -90.33% | -18.90% | -71.43% |
Max Drawdown (5Y)Largest decline over 5 years | -97.09% | -25.43% | -71.66% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -99.58% | -1.24% | -98.34% |
Average DrawdownAverage peak-to-trough decline | -91.17% | -10.71% | -80.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.67% | 2.09% | +21.58% |
Volatility
WEBS vs. ^GSPC - Volatility Comparison
Daily Dow Jones Internet Bear 3X Shares (WEBS) has a higher volatility of 19.28% compared to S&P 500 Index (^GSPC) at 3.96%. This indicates that WEBS's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WEBS | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.28% | 3.96% | +15.32% |
Volatility (6M)Calculated over the trailing 6-month period | 47.53% | 9.99% | +37.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 60.10% | 12.57% | +47.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.25% | 17.01% | +65.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 89.55% | 18.05% | +71.50% |
Frequently Asked Questions
WEBS and ^GSPC have a correlation of -0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WEBS has higher volatility (19.28%) compared to ^GSPC (3.96%). In terms of maximum drawdown, WEBS dropped -99.63% vs ^GSPC's -56.78%.
^GSPC currently has the higher Sharpe Ratio (1.61 vs -0.32), 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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