WM vs. SPY
WM (Waste Management, Inc.) is a stock, while SPY (State Street SPDR S&P 500 ETF) is S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, WM returned 15.36%/yr vs 15.42%/yr for SPY. At a 0.40 correlation, their price movements are largely independent.
Performance
WM vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, WM achieves a 0.71% return, which is significantly lower than SPY's 9.07% return. Both investments have delivered pretty close results over the past 10 years, with WM having a 15.36% annualized return and SPY not far ahead at 15.42%.
WM
- 1D
- 0.30%
- 1M
- 0.26%
- YTD
- 0.71%
- 6M
- 2.63%
- 1Y
- -5.72%
- 3Y*
- 12.33%
- 5Y*
- 11.14%
- 10Y*
- 15.36%
SPY
- 1D
- 0.54%
- 1M
- 0.35%
- YTD
- 9.07%
- 6M
- 9.42%
- 1Y
- 25.67%
- 3Y*
- 20.86%
- 5Y*
- 13.36%
- 10Y*
- 15.42%
WM vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WM Waste Management, Inc. | 0.71% | 10.50% | 14.28% | 16.20% | -4.49% | 43.82% | 5.46% | 30.45% | 5.32% | 24.46% |
SPY State Street SPDR S&P 500 ETF | 9.07% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Correlation
The correlation between WM and SPY is -0.15, 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 | -0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Jan 29, 1993 | 0.40 |
The correlation between WM and SPY shifts across timeframes, from -0.15 (1 year) to 0.40 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
WM vs. SPY — Risk / Return Rank
WM
SPY
WM vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Waste Management, Inc. (WM) 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.
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.
| WM | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.30 | ||
| Sortino ratioReturn per unit of downside risk | -3.00 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.36 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.36 | 2.74 | -3.10 |
| Martin ratioReturn relative to average drawdown | -0.79 | 12.39 | -13.18 |
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Drawdowns
WM vs. SPY - Drawdown Comparison
The maximum WM drawdown since its inception was -77.85%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for WM and SPY.
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Drawdown Indicators
| WM | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.85% | -55.19% | -22.66% |
Max Drawdown (1Y)Largest decline over 1 year | -16.70% | -8.88% | -7.82% |
Max Drawdown (3Y)Largest decline over 3 years | -18.14% | -18.76% | +0.62% |
Max Drawdown (5Y)Largest decline over 5 years | -18.14% | -24.50% | +6.36% |
Max Drawdown (10Y)Largest decline over 10 years | -30.07% | -33.72% | +3.65% |
Current DrawdownCurrent decline from peak | -10.24% | -2.35% | -7.89% |
Average DrawdownAverage peak-to-trough decline | -17.69% | -9.04% | -8.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.58% | 1.97% | +5.61% |
Volatility
WM vs. SPY - Volatility Comparison
Waste Management, Inc. (WM) has a higher volatility of 6.13% compared to State Street SPDR S&P 500 ETF (SPY) at 4.34%. This indicates that WM's price experiences larger fluctuations and is considered to be riskier 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
| WM | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.13% | 4.34% | +1.79% |
Volatility (6M)Calculated over the trailing 6-month period | 14.08% | 9.58% | +4.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.03% | 12.29% | +6.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.62% | 17.12% | +1.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.54% | 17.96% | +1.58% |
Dividends
WM vs. SPY - Dividend Comparison
WM's dividend yield for the trailing twelve months is around 1.61%, more than SPY's 1.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPY State Street SPDR S&P 500 ETF | 1.00% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
WM Waste Management, Inc. | 1.61% | 1.50% | 1.49% | 1.56% | 1.66% | 1.38% | 1.85% | 1.80% | 2.09% | 1.97% | 2.31% | 2.89% |
Frequently Asked Questions
WM and SPY have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WM has higher volatility (6.13%) compared to SPY (4.34%). In terms of maximum drawdown, WM dropped -77.85% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (1.98 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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