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 -31.10%/yr vs 11.54%/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 3.81% return, which is significantly lower than ^GSPC's 7.60% return.
WEBS
- 1D
- 0.85%
- 1M
- 15.73%
- YTD
- 3.81%
- 6M
- 7.21%
- 1Y
- -11.42%
- 3Y*
- -45.58%
- 5Y*
- -31.10%
- 10Y*
- —
^GSPC
- 1D
- -1.44%
- 1M
- -1.45%
- YTD
- 7.60%
- 6M
- 6.59%
- 1Y
- 22.24%
- 3Y*
- 19.20%
- 5Y*
- 11.54%
- 10Y*
- 13.71%
WEBS vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
WEBS Daily Dow Jones Internet Bear 3X Shares | 3.81% | -40.66% | -56.62% | -75.58% | 117.15% | -39.82% | -87.18% | -10.90% |
^GSPC S&P 500 Index | 7.60% | 16.39% | 23.31% | 24.23% | -19.44% | 26.89% | 16.26% | 5.01% |
Correlation
The correlation between WEBS and ^GSPC is -0.72, 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 | -0.72 |
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 has been stable across timeframes, ranging from -0.82 to -0.72 - a consistent structural relationship.
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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 | -1.97 | ||
| Sortino ratioReturn per unit of downside risk | -2.30 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.32 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.21 | 2.46 | -2.67 |
| Martin ratioReturn relative to average drawdown | -0.51 | 10.92 | -11.42 |
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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 | -99.50% | -3.21% | -96.29% |
Average DrawdownAverage peak-to-trough decline | -91.10% | -10.71% | -80.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.74% | 2.04% | +21.70% |
Volatility
WEBS vs. ^GSPC - Volatility Comparison
Daily Dow Jones Internet Bear 3X Shares (WEBS) has a higher volatility of 22.27% compared to S&P 500 Index (^GSPC) at 4.89%. 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 | 22.27% | 4.89% | +17.38% |
Volatility (6M)Calculated over the trailing 6-month period | 46.43% | 9.93% | +36.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.80% | 12.57% | +47.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.13% | 17.00% | +65.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 89.76% | 18.08% | +71.68% |
Frequently Asked Questions
WEBS and ^GSPC have a correlation of -0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WEBS has higher volatility (22.27%) compared to ^GSPC (4.89%). In terms of maximum drawdown, WEBS dropped -99.63% vs ^GSPC's -56.78%.
^GSPC currently has the higher Sharpe Ratio (1.78 vs -0.19), 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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