WK vs. SPYG

Last updated Aug 1, 2026

WK (Workiva Inc.) is a stock, while SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) is S&P 500 fund tracking the S&P 500 Growth Index. Over the past 10 years, WK returned 15.70%/yr vs 17.38%/yr for SPYG. Their 0.43 correlation means their historical movements had little consistent relationship.

Performance

WK vs. SPYG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Workiva Inc. (WK) and State Street SPDR Portfolio S&P 500 Growth ETF (SPYG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WK achieves a -30.67% return, which is significantly lower than SPYG's 10.06% return. Over the past 10 years, WK has underperformed SPYG with an annualized return of 15.70%, while SPYG has yielded a comparatively higher 17.38% annualized return.

WK

• 1D: 2.15%
• 1M: 15.16%
• 6M: -22.36%
• YTD: -30.67%
• 1Y: -29.06%
• 3Y*: -17.39%
• 5Y*: -14.35%
• 10Y*: 15.70%
• ALL TIME*: 13.29%

SPYG

• 1D: 1.45%
• 1M: -0.05%
• 6M: 9.50%
• YTD: 10.06%
• 1Y: 21.72%
• 3Y*: 24.04%
• 5Y*: 13.28%
• 10Y*: 17.38%
• ALL TIME*: 7.45%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	$321.11M	$273.47M	$308.09M
WK Workiva Inc.	$41.41M	$40.51M	$52.88M

WK vs. SPYG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WK Workiva Inc.	-30.67%	-21.23%	7.85%	20.91%	-35.65%	42.43%	117.88%	17.16%	67.71%	56.78%
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	10.06%	22.09%	35.99%	30.02%	-29.41%	32.01%	33.46%	30.84%	-0.12%	27.24%

Correlation

The correlation between WK and SPYG is -0.03, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.03
Correlation (3Y) Balances recent behavior with more history.	0.26
Correlation (5Y) Shows whether the relationship held over a longer period.	0.45
Correlation (10Y) Provides a long-term view across more market conditions.	0.45
Correlation (All Time) Calculated using the full available price history since Dec 12, 2014	0.43

The correlation between WK and SPYG shifts across timeframes, from -0.03 (1 year) to 0.45 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

WK vs. SPYG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

WK

WK Risk / Return Rank: 39
WK Sharpe Ratio Rank: 39
WK Sortino Ratio Rank: 39
WK Omega Ratio Rank: 39
WK Calmar Ratio Rank: 40
WK Martin Ratio Rank: 40

SPYG

SPYG Risk / Return Rank: 43
SPYG Sharpe Ratio Rank: 44
SPYG Sortino Ratio Rank: 44
SPYG Omega Ratio Rank: 41
SPYG Calmar Ratio Rank: 40
SPYG Martin Ratio Rank: 46

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

WK vs. SPYG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Workiva Inc. (WK) and State Street SPDR Portfolio S&P 500 Growth ETF (SPYG). 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.

	WK	SPYG	Difference
Sharpe ratio: Return per unit of total volatility	-0.12	1.08	-1.20
Sortino ratio: Return per unit of downside risk	0.22	1.58	-1.36
Omega ratio: Gain probability vs. loss probability	1.03	1.19	-0.17
Calmar ratio: Return relative to maximum drawdown	-0.12	1.42	-1.54
Martin ratio: Return relative to average drawdown	-0.22	5.17	-5.38

WK vs. SPYG - Sharpe Ratio Comparison

The current WK Sharpe Ratio is -0.12, which is lower than the SPYG Sharpe Ratio of 1.08. The chart below compares the historical Sharpe Ratios of WK and SPYG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

WK vs. SPYG - Drawdown Comparison

The maximum WK drawdown since its inception was -72.45%, which is greater than SPYG's maximum drawdown of -67.63%. Use the drawdown chart below to compare losses from any high point for WK and SPYG.

Drawdown Indicators

	WK	SPYG	Difference
Max Drawdown Largest peak-to-trough decline	-72.45%	-67.63%	-4.82%
Max Drawdown (1Y) Largest decline over 1 year	-52.51%	-13.76%	-38.75%
Max Drawdown (3Y) Largest decline over 3 years	-61.40%	-22.14%	-39.26%
Max Drawdown (5Y) Largest decline over 5 years	-72.45%	-32.67%	-39.78%
Max Drawdown (10Y) Largest decline over 10 years	-72.45%	-32.67%	-39.78%
Current Drawdown Current decline from peak	-62.82%	-4.33%	-58.49%
Average Drawdown Average peak-to-trough decline	-26.95%	-24.20%	-2.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.18%	3.78%	+25.40%

Volatility

WK vs. SPYG - Volatility Comparison

Workiva Inc. (WK) has a higher volatility of 15.45% compared to State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) at 6.08%. This indicates that WK's price experiences larger fluctuations and is considered to be riskier than SPYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WK	SPYG	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.45%	6.08%	+9.37%
Volatility (6M) Calculated over the trailing 6-month period	35.10%	14.85%	+20.25%
Volatility (1Y) Calculated over the trailing 1-year period	53.88%	18.18%	+35.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.24%	21.50%	+24.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.69%	20.79%	+22.90%

Dividends

WK vs. SPYG - Dividend Comparison

WK has not paid dividends to shareholders, while SPYG's dividend yield for the trailing twelve months is around 0.49%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	0.49%	0.52%	0.60%	1.15%	1.03%	0.62%	0.90%	1.37%	1.51%	1.41%	1.55%	1.57%
WK Workiva 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

Can I hold both WK and SPYG in my portfolio?

WK and SPYG have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WK or SPYG?

WK has higher volatility (15.45%) compared to SPYG (6.08%). In terms of maximum drawdown, WK dropped -72.45% vs SPYG's -67.63%.

Which has better risk-adjusted returns?

SPYG currently has the higher Sharpe Ratio (1.08 vs -0.12), 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.