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 -10.50%/yr vs 13.24%/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 -11.19% return, which is significantly lower than SPY's 10.67% return.
YMM
- 1D
- 1.52%
- 1M
- 17.45%
- 6M
- -2.76%
- YTD
- -11.19%
- 1Y
- -23.44%
- 3Y*
- 10.49%
- 5Y*
- -10.50%
- 10Y*
- —
SPY
- 1D
- -0.54%
- 1M
- 0.31%
- 6M
- 9.02%
- YTD
- 10.67%
- 1Y
- 21.60%
- 3Y*
- 20.01%
- 5Y*
- 13.24%
- 10Y*
- 15.08%
YMM vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
YMM Full Truck Alliance Co. Ltd. | -11.19% | 0.79% | 57.39% | -12.37% | -4.42% | -62.80% |
SPY State Street SPDR S&P 500 ETF | 10.67% | 17.72% | 24.89% | 26.18% | -18.18% | 13.61% |
Correlation
The correlation between YMM and SPY is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
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 | -2.32 | ||
| Sortino ratioReturn per unit of downside risk | -3.02 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.31 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.52 | 2.44 | -2.96 |
| Martin ratioReturn relative to average drawdown | -0.87 | 10.63 | -11.50 |
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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 | -45.17% | -8.88% | -36.29% |
Max Drawdown (3Y)Largest decline over 3 years | -45.17% | -18.76% | -26.41% |
Max Drawdown (5Y)Largest decline over 5 years | -74.60% | -24.50% | -50.10% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -56.11% | -0.91% | -55.20% |
Average DrawdownAverage peak-to-trough decline | -58.15% | -9.02% | -49.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.12% | 2.04% | +25.08% |
Volatility
YMM vs. SPY - Volatility Comparison
Full Truck Alliance Co. Ltd. (YMM) has a higher volatility of 12.94% compared to State Street SPDR S&P 500 ETF (SPY) at 3.58%. 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 | 12.94% | 3.58% | +9.36% |
Volatility (6M)Calculated over the trailing 6-month period | 25.04% | 10.02% | +15.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.98% | 12.58% | +27.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.14% | 17.17% | +53.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.52% | 17.93% | +54.59% |
Dividends
YMM vs. SPY - Dividend Comparison
YMM's dividend yield for the trailing twelve months is around 2.83%, 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% |
YMM Full Truck Alliance Co. Ltd. | 2.83% | 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 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YMM has higher volatility (12.94%) compared to SPY (3.58%). In terms of maximum drawdown, YMM dropped -79.33% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (1.72 vs -0.59), 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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