Correlation
The correlation between ^NDXE and SPY is 0.91, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
^NDXE vs. SPY
Compare and contrast key facts about NASDAQ 100 Equal Weighted Index (^NDXE) and SPDR S&P 500 ETF (SPY).
SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ^NDXE or SPY.
Performance
^NDXE vs. SPY - Performance Comparison
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Key characteristics
^NDXE:
0.38
SPY:
0.70
^NDXE:
0.59
SPY:
1.02
^NDXE:
1.08
SPY:
1.15
^NDXE:
0.31
SPY:
0.68
^NDXE:
1.10
SPY:
2.57
^NDXE:
6.15%
SPY:
4.93%
^NDXE:
22.26%
SPY:
20.42%
^NDXE:
-58.20%
SPY:
-55.19%
^NDXE:
-4.45%
SPY:
-3.55%
Returns By Period
In the year-to-date period, ^NDXE achieves a 4.19% return, which is significantly higher than SPY's 0.87% return. Over the past 10 years, ^NDXE has underperformed SPY with an annualized return of 11.30%, while SPY has yielded a comparatively higher 12.73% annualized return.
^NDXE
4.19%
6.65%
-0.91%
8.32%
11.14%
11.24%
11.30%
SPY
0.87%
5.54%
-1.56%
13.18%
14.25%
15.81%
12.73%
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Risk-Adjusted Performance
^NDXE vs. SPY — Risk-Adjusted Performance Rank
^NDXE
SPY
^NDXE vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for NASDAQ 100 Equal Weighted Index (^NDXE) and 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.
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Drawdowns
^NDXE vs. SPY - Drawdown Comparison
The maximum ^NDXE drawdown since its inception was -58.20%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for ^NDXE and SPY.
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Volatility
^NDXE vs. SPY - Volatility Comparison
NASDAQ 100 Equal Weighted Index (^NDXE) has a higher volatility of 5.33% compared to SPDR S&P 500 ETF (SPY) at 4.86%. This indicates that ^NDXE'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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