YMM vs. SPY
YMM (Full Truck Alliance Co. Ltd.) 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 5 years, YMM returned -17.57%/yr vs 13.05%/yr for SPY. At a 0.32 correlation, their price movements are largely independent.
Performance
YMM vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, YMM achieves a -28.06% return, which is significantly lower than SPY's 8.15% return.
YMM
- 1D
- -3.17%
- 1M
- -8.61%
- YTD
- -28.06%
- 6M
- -31.14%
- 1Y
- -34.42%
- 3Y*
- 7.89%
- 5Y*
- -17.57%
- 10Y*
- —
SPY
- 1D
- -1.45%
- 1M
- -1.36%
- YTD
- 8.15%
- 6M
- 7.20%
- 1Y
- 23.59%
- 3Y*
- 20.68%
- 5Y*
- 13.05%
- 10Y*
- 15.53%
YMM vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
YMM Full Truck Alliance Co. Ltd. | -28.06% | 0.79% | 57.39% | -12.38% | -4.42% | -62.80% |
SPY State Street SPDR S&P 500 ETF | 8.15% | 17.72% | 24.89% | 26.18% | -18.18% | 13.61% |
Correlation
The correlation between YMM and SPY is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2021 | 0.32 |
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Return for Risk
YMM vs. SPY — Risk / Return Rank
YMM
SPY
YMM vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Full Truck Alliance Co. Ltd. (YMM) 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.
| YMM | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.77 | ||
| Sortino ratioReturn per unit of downside risk | -3.72 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.34 | -0.49 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 2.67 | -3.44 |
| Martin ratioReturn relative to average drawdown | -1.35 | 11.92 | -13.27 |
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Drawdowns
YMM vs. SPY - Drawdown Comparison
The maximum YMM drawdown since its inception was -79.33%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for YMM and SPY.
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Drawdown Indicators
| YMM | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.33% | -55.19% | -24.14% |
Max Drawdown (1Y)Largest decline over 1 year | -44.45% | -8.88% | -35.57% |
Max Drawdown (3Y)Largest decline over 3 years | -44.45% | -18.76% | -25.69% |
Max Drawdown (5Y)Largest decline over 5 years | -77.18% | -24.50% | -52.68% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -64.45% | -3.17% | -61.28% |
Average DrawdownAverage peak-to-trough decline | -58.12% | -9.04% | -49.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.58% | 1.98% | +23.60% |
Volatility
YMM vs. SPY - Volatility Comparison
Full Truck Alliance Co. Ltd. (YMM) has a higher volatility of 12.86% compared to State Street SPDR S&P 500 ETF (SPY) at 4.87%. This indicates that YMM'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
| YMM | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.86% | 4.87% | +7.99% |
Volatility (6M)Calculated over the trailing 6-month period | 24.55% | 9.85% | +14.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.70% | 12.50% | +27.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.82% | 17.15% | +55.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.80% | 17.95% | +54.85% |
Dividends
YMM vs. SPY - Dividend Comparison
YMM's dividend yield for the trailing twelve months is around 2.36%, more than SPY's 1.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPY State Street SPDR S&P 500 ETF | 1.03% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
YMM Full Truck Alliance Co. Ltd. | 2.36% | 1.79% | 1.33% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
YMM and SPY have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YMM has higher volatility (12.86%) compared to SPY (4.87%). In terms of maximum drawdown, YMM dropped -79.33% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (1.90 vs -0.87), 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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