Correlation
The correlation between ^SP400 and SPY is 0.87, 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.
^SP400 vs. SPY
Compare and contrast key facts about S&P 400 Index (^SP400) 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: ^SP400 or SPY.
Performance
^SP400 vs. SPY - Performance Comparison
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Key characteristics
^SP400:
0.15
SPY:
0.67
^SP400:
0.28
SPY:
1.03
^SP400:
1.04
SPY:
1.15
^SP400:
0.08
SPY:
0.69
^SP400:
0.23
SPY:
2.61
^SP400:
8.10%
SPY:
4.92%
^SP400:
21.98%
SPY:
20.44%
^SP400:
-56.32%
SPY:
-55.19%
^SP400:
-11.15%
SPY:
-3.44%
Returns By Period
In the year-to-date period, ^SP400 achieves a -3.48% return, which is significantly lower than SPY's 0.98% return. Over the past 10 years, ^SP400 has underperformed SPY with an annualized return of 7.03%, while SPY has yielded a comparatively higher 12.73% annualized return.
^SP400
-3.48%
5.46%
-10.45%
3.18%
5.85%
11.30%
7.03%
SPY
0.98%
6.45%
-0.84%
13.58%
14.08%
15.83%
12.73%
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Risk-Adjusted Performance
^SP400 vs. SPY — Risk-Adjusted Performance Rank
^SP400
SPY
^SP400 vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for S&P 400 Index (^SP400) 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
^SP400 vs. SPY - Drawdown Comparison
The maximum ^SP400 drawdown since its inception was -56.32%, roughly equal to the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for ^SP400 and SPY.
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Volatility
^SP400 vs. SPY - Volatility Comparison
S&P 400 Index (^SP400) has a higher volatility of 5.90% compared to SPDR S&P 500 ETF (SPY) at 4.85%. This indicates that ^SP400'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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