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Relative Intelligence · US Large-Cap Equity

How State Street SPDR Portfolio S&P 500 ETF (SPYM) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on SPYM alone. It places SPYM (State Street SPDR Portfolio S&P 500 ETF) against 20+ popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where SPYM stands in the market, and of the alternatives worth a closer look.

Period covered: SPYM's full trading record, from November 2005 through September 2026. The crash tests reach back to 2000 using older funds. All returns include reinvested dividends. Data as of October 20, 2026.

Data as of October 20, 2026. Full tables and charts read best on a larger screen.

Rank the market against SPYM →Chart SPYM vs. 23 alternatives →
On this page11 sections

Key findings

How much would $10,000 in SPYM have grown?

This chart tracks a hypothetical $10,000 investment in SPYM over the past 20 years, with dividends reinvested, alongside the same amount in investments that ended ahead of SPYM over the same span and SPYM's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.

Note: SPYM began trading on November 15, 2005, so the chart cannot reach back to the dot-com bust. It covers the most recent 20 years of SPYM's record, starting at the end of September 2006.

Choose a period

From the end of September 2006 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 433 of the 1,663 stocks and funds worth at least $500 million that traded the whole period ended ahead of SPYM; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$20,000$50,000$100,000$200,0002006200920122015201820212024$10,000$20,000$50,000$100,000$200,00020062011201620212026
  • QQQ$212,691+2,027% total · +16.5% a year
  • RY$94,834+848% total · +11.9% a year
  • WMT$94,384+844% total · +11.9% a year
  • OEF$88,797+788% total · +11.5% a year
  • VV$85,028+750% total · +11.3% a year
  • SPYM$84,128+741% total · +11.2% a year
  • PRF$73,453+635% total · +10.5% a year
  • RSP$68,025+580% total · +10.1% a year
  • VTV$57,135+471% total · +9.1% a year
Change the dates or add tickers to this chart in EasyCompare

From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 897 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of SPYM; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$5,000$10,000$15,000$20,000$25,000$30,000202120222023202420252026$5,000$10,000$15,000$20,000$25,000$30,000202120222023202420252026
  • RY$23,646+136% total · +18.8% a year
  • VLUE$22,395+124% total · +17.5% a year
  • PVAL$21,761+118% total · +16.8% a year
  • QQQ$21,295+113% total · +16.3% a year
  • DYNF$21,051+111% total · +16.1% a year
  • OEF$20,494+105% total · +15.4% a year
  • FNDX$19,177+91.8% total · +13.9% a year
  • SPYM$19,074+90.7% total · +13.8% a year
  • PRF$18,834+88.3% total · +13.5% a year
Change the dates or add tickers to this chart in EasyCompare

SPYM at a glance

This section summarizes the key facts about the fund, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout. These figures serve as the baseline for every comparison that follows.

Note: SPYM began trading on November 15, 2005, so every figure here, including its worst decline, covers only the time since then. None of them reflect the dot-com bust.

The fund

Issuer
SPDR
Began trading
November 2005
Expense ratio
0.02%per year
Assets
$184B
Category
Broad Market

Returns

Past 1 year
+15.9%total return
Past 3 years
+89.8%+23.8% a year
Past 5 years
+82.5%+12.8% a year
Past 10 years
+324%+15.5% a year
Best calendar year
+33.2%2013
Worst calendar year
−37.0%2008
Losing years
3 of 20full calendar years

Risk

Volatility
16.9%typical yearly swing, 5 years
Sharpe ratio
0.80return per unit of risk, 5 years
Worst decline ever
−54.6%Oct 2007 to Mar 2009
From its all-time high
−1.3%below the peak

SPYM against the whole market

Where SPYM ranks among every stock and fund, and what across the market has done better.

How does SPYM rank among all ETFs?

This section ranks SPYM on return, volatility, risk-adjusted return and worst decline against every ETF worth at least $100 million with enough history. Where the comparisons with its popular alternatives show how SPYM stacks up against its peers, these rankings show where it stands in the market as a whole.

Ranked against U.S.-listed ETFs with at least $100M in assets that have enough history for each measure, so the count changes from row to row; smaller ETFs and leveraged funds are left out. Lower volatility and smaller declines rank higher.

MeasureSPYMRankStanding
1-year return+15.9%717 of 2,485top 29%
3-year return+89.8%344 of 1,949top 18%
5-year return+82.5%231 of 1,560top 15%
10-year return+324%72 of 958top 8%
Volatility, 5 years16.9%817 of 1,560bottom 49%
Sharpe ratio, 5 years0.80348 of 1,560top 22%
Worst decline, past 10 years−33.9%285 of 951top 30%

What has beaten SPYM on both return and risk?

Each dot is an investment, placed by how much it earned a year over the past 5 years (higher is better) and how much its price swung, its volatility (further left is calmer). SPYM sits where the dashed lines cross. Anything in the green box above and to the left earned more than SPYM with smaller swings, a better trade-off over this period on both counts. Past results are no promise, but a name in the box is worth a closer look.

Annual return is the annualized total return with dividends reinvested, and volatility the annualized swing in daily prices, both over 5 years. Labeled dots are the strongest picks from the table below and the names called out above, colored by how close they sit to SPYM; faint dots are 6 more of the 9 in the green region (the strongest, one per fund family). 3,633 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.

10.0%12.0%14.0%16.0%18.0%20.0%22.0%24.0%26.0%5.0%10.0%15.0%20.0%25.0%30.0%35.0%40.0%45.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than SPYMFDL: +13.9% a year, volatility 14.4%EMLP: +14.9% a year, volatility 14.5%GCOW: +14.1% a year, volatility 13.6%IUS: +14.7% a year, volatility 14.9%DGT: +13.8% a year, volatility 15.1%IDOG: +14.1% a year, volatility 15.6%SPYM: +12.8% a year, volatility 16.9%VTI (S&P 500): +11.5% a year, volatility 17.5%QQQ: +14.5% a year, volatility 23.0%PVAL: +16.1% a year, volatility 15.1%VLUE: +15.9% a year, volatility 18.4%OEF: +14.3% a year, volatility 17.8%MGV: +12.6% a year, volatility 13.4%RY: +17.3% a year, volatility 18.2%DIVB: +13.9% a year, volatility 15.4%CAH: +42.1% a year, volatility 24.7%LVHI: +17.0% a year, volatility 11.1%WMT: +20.8% a year, volatility 22.6%SIXA: +12.8% a year, volatility 12.7%EPD: +16.4% a year, volatility 17.1%WM: +9.3% a year, volatility 19.2%SPYMVTI (S&P 500)QQQPVALVLUEOEFMGVRYDIVBCAHLVHIWMTSIXAEPDWM10.0%15.0%20.0%25.0%30.0%0.0%10.0%20.0%30.0%40.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than SPYMFDL: +13.9% a year, volatility 14.4%EMLP: +14.9% a year, volatility 14.5%GCOW: +14.1% a year, volatility 13.6%IUS: +14.7% a year, volatility 14.9%DGT: +13.8% a year, volatility 15.1%IDOG: +14.1% a year, volatility 15.6%SPYM: +12.8% a year, volatility 16.9%VTI (S&P 500): +11.5% a year, volatility 17.5%QQQ: +14.5% a year, volatility 23.0%PVAL: +16.1% a year, volatility 15.1%VLUE: +15.9% a year, volatility 18.4%OEF: +14.3% a year, volatility 17.8%MGV: +12.6% a year, volatility 13.4%RY: +17.3% a year, volatility 18.2%DIVB: +13.9% a year, volatility 15.4%CAH: +42.1% a year, volatility 24.7%LVHI: +17.0% a year, volatility 11.1%WMT: +20.8% a year, volatility 22.6%SIXA: +12.8% a year, volatility 12.7%EPD: +16.4% a year, volatility 17.1%WM: +9.3% a year, volatility 19.2%SPYMVTI (S&P 500)QQQPVALVLUEMGVCAHLVHIWMTSIXA
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than SPYM?

Investments that beat SPYM over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.

How this works

The table below lists investments that beat SPYM over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes, and, for funds, the same exposure at a lower expense ratio. It checks SPYM's popular alternatives first, then the rest of its own and neighboring categories, then every stock and fund worth at least $500 million, and shows the strongest few in each group. The full list of those with a higher return and lower volatility than SPYM follows the table.

Annual return is the annualized total return with dividends reinvested. Annual return, volatility and the Sharpe ratio cover 5 years; the worst decline covers the past 10 years. Green marks a better figure than SPYM's. "On the frontier" means no other option shown or tested earned more with less volatility. Funds that hold the same thing are shown once. Beyond the popular alternatives, nothing with more than 1.5× SPYM's volatility counts as better.

These figures cover the past 5 years. Green marks a better figure than SPYM's.

Screen the whole market against SPYM for any period in BetterThanSPYOpen these 14 in EasyCompare
InvestmentWhy it is betterPast 5 yearsDownsideLong runFit
Annual return?higher is betterVolatility?lower is calmerSharpe?return per unit of riskWorst decline?past 10 years10Y returntotalCorr. with SPYM?lower diversifies moreExpenseper year
SPYMState Street SPDR Portfolio S&P 500 ETF · this page
+12.8%16.9%0.80−33.9%+324%1.000.02%
VTIVanguard Morningstar Total Stock Market ETF · S&P 500
+11.5%17.5%0.71−35.0%+302%1.000.03%
Popular alternativesbest 1 shownThe investments people most often weigh against SPYM. 1 of 23 passed at least one test.
QQQInvesco QQQ Trust, Series 1 · US Large-Cap Growth
Higher return in most periods+14.5%23.0%0.71−35.1%+553%0.920.18%
Same and neighboring categories, and shared themesbest 4 shownEverything else in US Large-Cap Equity and the categories next to it (US Total Market, US Large-Cap Value, US Large-Cap Growth, US Quality Equity), plus SPYM's specific themes. 7 of 46 passed at least one test.
PVALPutnam Focused Large Cap Value ETF · US Large-Cap Value
Higher return, lower volatilityHigher return in most periods+16.1%15.1%1.07−41.3%—0.880.56%
VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value
Higher return, similar volatilityHigher return in most periods+15.9%18.4%0.90−39.5%+286%0.830.15%
OEFiShares S&P 100 ETF · US Large-Cap Equity
Higher return in most periods+14.3%17.8%0.84−31.4%+367%0.980.20%
MGVVanguard Morningstar Mega Cap Value ETF · US Large-Cap Value
Similar return, lower volatility+12.6%13.4%0.95−35.4%+244%0.830.05%
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 71 of 3,564 passed at least one test.
RYRoyal Bank of Canada · Banks
On the frontierHigher return, similar volatilityHigher return in most periods+17.3%18.2%0.97−40.0%+352%0.59—
DIVBiShares Core Dividend ETF · Dividend & Income
Higher return, lower volatilityHigher return in most periods+13.9%15.4%0.93−36.9%—0.860.05%
CAHCardinal Health, Inc. · Health Care Distribution
On the frontierHigher return in most periods+42.1%24.7%1.55−46.1%+349%0.29—
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity
On the frontierHigher return, lower volatility+17.0%11.1%1.48−32.4%+194%0.550.40%
WMTWalmart Inc. · Discount Retail
Higher Sharpe, smaller worst decline+20.8%22.6%0.96−25.7%+508%0.43—
SIXAETC 6 Meridian Mega Cap Equity ETF · Broad Market
Similar return, lower volatilityHigher Sharpe, smaller worst decline+12.8%12.7%1.01−18.4%—0.830.31%
EPDEnterprise Products Partners L.P. · Oil & Gas Midstream
Higher return, similar volatility+16.4%17.1%0.98−58.1%+178%0.42—
WMWaste Management, Inc. · Environmental Services
Smaller losses in recent crashes+9.3%19.2%0.56−30.1%+344%0.35—
What these numbers mean for SPYM
Annual return
SPYM returned 12.8% a year over the past 5 years with dividends reinvested, against 11.5% a year for the S&P 500. At that pace, $10,000 became about $18,300. Annual return is the steady yearly rate that would produce the same total result, so investments held over the same span compare fairly. Guide: What is performance and return? →
Volatility
SPYM's volatility over the past 5 years was 16.9%, 1.0 times the S&P 500's 17.5%. Volatility measures how widely returns swing around their average: in roughly two years out of three, SPYM's return lands within 16.9% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump. Guide: Understanding and measuring risk (volatility) →
Sharpe ratio
SPYM's Sharpe ratio over the past 5 years was 0.80, against 0.71 for the S&P 500, so SPYM earned more for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings. Guide: Balancing reward with risk (Sharpe ratio) →
Worst decline
SPYM's worst fall from a peak to a low over the past 10 years was 33.9%, against 35.0% for the S&P 500. Losses and gains are not symmetric: climbing back from a 33.9% fall takes a 51.2% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, SPYM's monthly returns had a correlation of 1.00 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They move almost in lockstep, so holding both adds little diversification. In the table, the correlation column measures each option against SPYM instead: the lower it is, the more that option would diversify a SPYM holding. Guide: Correlation and diversification →
Show all 9 stocks and funds worth at least $500 million that earned more than SPYM with less volatility

Out of 3,633 tested over 5 years. Best first; funds that hold the same thing are listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with SPYMExpense
1
PVALPutnam Focused Large Cap Value ETF · US Large-Cap Value
Same or nearby category+16.1%15.1%1.07−41.3%—0.880.56%
2
DIVBiShares Core Dividend ETF · Dividend & Income
Whole market+13.9%15.4%0.93−36.9%—0.860.05%
3
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity
Whole market+17.0%11.1%1.48−32.4%+194%0.550.40%
4
FDLFirst Trust Morningstar Dividend Leaders Index Fund · US Dividend Equity
Whole market+13.9%14.4%0.98−41.4%+199%0.580.43%
5
EMLPFirst Trust North American Energy Infrastructure Fund · Energy Infrastructure
Whole market+14.9%14.5%1.04−43.6%+150%0.610.95%
6
GCOWPacer Global Cash Cows Dividend ETF · International
Whole market+14.1%13.6%1.04−37.6%+168%0.530.60%
7
IUSInvesco RAFI Strategic US ETF · Broad Market
Whole market+14.7%14.9%1.00−34.7%—0.940.19%
8
DGTState Street SPDR Global Dow ETF · International
Whole market+13.8%15.1%0.94−34.4%+261%0.850.50%
9
IDOGALPS International Sector Dividend Dogs ETF · International
Whole market+14.1%15.6%0.93−37.3%+180%0.590.50%

SPYM against its popular alternatives

The investments people most often weigh against SPYM, compared period by period and year by year.

How do SPYM's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings. Investments toward the upper left earned more for a smoother ride, and those toward the lower right earned less for a rougher one. The dashed lines cross at SPYM, which divides the map into what did better or worse on each measure.

Green points earned more than SPYM with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.

5.0%7.5%10.0%12.5%15.0%17.5%20.0%22.5%25.0%−2.0%0.0%2.0%4.0%6.0%8.0%10.0%12.0%14.0%16.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilitySPYM: 12.8% a year, volatility 16.9%FNDX: 13.5% a year, volatility 14.9%PRF: 13.0% a year, volatility 15.0%VV: 12.3% a year, volatility 17.3%VOO: 12.8% a year, volatility 16.9%SCHX: 12.0% a year, volatility 17.2%SPTM: 12.3% a year, volatility 16.9%VTI: 11.5% a year, volatility 17.5%SCHB: 11.6% a year, volatility 17.3%SPMD: 7.2% a year, volatility 19.6%EQAL: 6.4% a year, volatility 17.2%IWM: 5.2% a year, volatility 22.4%QQQ: 14.5% a year, volatility 23.0%DYNF: 14.7% a year, volatility 17.5%VTV: 12.0% a year, volatility 13.7%RSP: 8.2% a year, volatility 16.1%VXUS: 8.3% a year, volatility 16.4%AGG: −0.3% a year, volatility 6.1%SPYMFNDXPRFVVSCHXVTISPMDEQALIWMQQQDYNFVTVRSPVXUSAGG5.0%10.0%15.0%20.0%25.0%−2.5%0.0%2.5%5.0%7.5%10.0%12.5%15.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilitySPYM: 12.8% a year, volatility 16.9%FNDX: 13.5% a year, volatility 14.9%PRF: 13.0% a year, volatility 15.0%VV: 12.3% a year, volatility 17.3%VOO: 12.8% a year, volatility 16.9%SCHX: 12.0% a year, volatility 17.2%SPTM: 12.3% a year, volatility 16.9%VTI: 11.5% a year, volatility 17.5%SCHB: 11.6% a year, volatility 17.3%SPMD: 7.2% a year, volatility 19.6%EQAL: 6.4% a year, volatility 17.2%IWM: 5.2% a year, volatility 22.4%QQQ: 14.5% a year, volatility 23.0%DYNF: 14.7% a year, volatility 17.5%VTV: 12.0% a year, volatility 13.7%RSP: 8.2% a year, volatility 16.1%VXUS: 8.3% a year, volatility 16.4%AGG: −0.3% a year, volatility 6.1%SPYMFNDXPRFVVSCHXVTISPMDEQALIWMQQQDYNFVTVRSPVXUSAGG
All figures
InvestmentAnnual returnVolatility
DYNF iShares U.S. Equity Factor Rotation Active ETF+14.7%17.5%
QQQ Invesco QQQ Trust, Series 1+14.5%23.0%
FNDX Schwab Fundamental U.S. Large Company ETF+13.5%14.9%
PRF Invesco RAFI US 1000 ETF+13.0%15.0%
SPYM This pageState Street SPDR Portfolio S&P 500 ETF+12.8%16.9%
VOO Vanguard S&P 500 ETF+12.8%16.9%
VV Vanguard Morningstar Large-Cap ETF+12.3%17.3%
SPTM State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF+12.3%16.9%
VTV Vanguard Morningstar Value ETF+12.0%13.7%
SCHX Schwab U.S. Large-Cap ETF+12.0%17.2%
SCHB Schwab U.S. Broad Market ETF+11.6%17.3%
VTI Vanguard Morningstar Total Stock Market ETF+11.5%17.5%
VXUS Vanguard Total International Stock ETF+8.3%16.4%
RSP Invesco S&P 500 Equal Weight ETF+8.2%16.1%
SPMD State Street SPDR Portfolio S&P 400 Mid Cap ETF+7.2%19.6%
EQAL Invesco Russell 1000 Equal Weight ETF+6.4%17.2%
IWM iShares Russell 2000 ETF+5.2%22.4%
AGG iShares Core U.S. Aggregate Bond ETF−0.3%6.1%
Open these 18 in EasyCompare

Has SPYM consistently beaten its popular alternatives?

This section compares SPYM with the investments people most often weigh against it, checking each one over eight periods from one month to ten years. Counting how often an alternative earned more than SPYM helps separate lasting outperformance from a single strong stretch.

A green cell means the alternative earned more than SPYM over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 3 long-term periods.

InvestmentPeriods outperformed Short termLong termRisk · 5 yearsFund
1M3M6MYTD1Y3Y5Y10YVolatilitylower is calmerSharpehigher is betterWorst declinepast 10 yearsExpenseAssetsOverlapsame sectors
SPYM State Street SPDR Portfolio S&P 500 ETF (this page)—−0.5%+3.9%+9.1%+13.5%+15.9%+89.8%+82.5%+324%16.9%0.80−33.9%0.02%$184B—
QQQ QualifiedInvesco QQQ Trust, Series 13/5 short3/3 long−3.2%+3.2%+11.2%+17.4%+17.9%+106%+97.2%+553%23.0%0.71−35.1%0.18%$492B74%
DYNF Broad MarketiShares U.S. Equity Factor Rotation Active ETF2/5 short2/3 long−1.9%+3.4%+9.1%+14.1%+17.1%+106%+98.5%—17.5%0.87−34.7%0.26%$42B92%
FNDX Broad MarketSchwab Fundamental U.S. Large Company ETF5/5 short1/3 long+1.6%+4.7%+11.9%+20.5%+25.4%+88.2%+88.6%+291%14.9%0.93−37.7%0.25%$28B80%
PRF Broad MarketInvesco RAFI US 1000 ETF4/5 short0/3 long+1.2%+4.2%+11.7%+20.2%+25.5%+90.1%+84.3%+270%15.0%0.90−38.1%0.34%$10B83%
VTV Broad MarketVanguard Morningstar Value ETF4/5 short0/3 long+1.6%+4.0%+11.0%+18.2%+22.5%+77.9%+76.6%+235%13.7%0.90−36.8%0.03%$252B64%
RSP Broad MarketInvesco S&P 500 Equal Weight ETF1/5 short0/3 long+1.5%+2.0%+6.7%+13.3%+15.5%+65.4%+48.6%+211%16.1%0.57−39.0%0.20%$98B74%
VV Broad MarketVanguard Morningstar Large-Cap ETF0/5 short0/3 long−0.7%+3.9%+9.4%+13.4%+15.4%+90.6%+78.8%+324%17.3%0.76−34.3%0.03%$76B98%
VOO Broad MarketVanguard S&P 500 ETF0/5 short0/3 long−0.6%+3.9%+9.1%+13.5%+15.8%+89.7%+82.3%+324%16.9%0.80−34.0%0.03%$1.7T99%
IVV Broad MarketiShares Core S&P 500 ETF0/5 short0/3 long−0.6%+3.9%+9.1%+13.5%+15.8%+89.7%+82.3%+324%17.0%0.80−33.9%0.03%$880B100%
SPY Broad MarketState Street SPDR S&P 500 ETF0/5 short0/3 long−0.6%+3.9%+9.1%+13.5%+15.8%+89.3%+81.7%+321%17.1%0.79−33.7%0.09%$823B100%
SCHX Broad MarketSchwab U.S. Large-Cap ETF0/5 short0/3 long−0.8%+3.6%+8.7%+13.0%+15.1%+89.1%+76.6%+317%17.2%0.75−34.3%0.03%$74B99%
VONE Broad MarketVanguard Russell 1000 ETF0/5 short0/3 long−0.6%+3.7%+8.6%+13.0%+15.2%+88.5%+75.9%+312%17.2%0.75−34.7%0.06%$12B98%
SPTM Broad MarketState Street SPDR Portfolio S&P 1500 Composite Stock Market ETF0/5 short0/3 long−0.6%+3.4%+8.4%+13.3%+15.7%+87.2%+78.6%+310%16.9%0.77−34.7%0.03%$14B98%
IWB Broad MarketiShares Russell 1000 ETF0/5 short0/3 long−0.6%+3.7%+8.6%+12.9%+15.1%+87.7%+75.1%+309%17.2%0.74−34.6%0.15%$49B98%
VTI Broad MarketVanguard Morningstar Total Stock Market ETF0/5 short0/3 long−0.8%+3.2%+8.3%+13.1%+15.2%+87.9%+72.6%+302%17.5%0.71−35.0%0.03%$2.3T98%
ITOT Broad MarketiShares Core S&P Total U.S. Stock Market ETF0/5 short0/3 long−0.8%+3.2%+8.2%+13.1%+15.2%+88.0%+72.7%+301%17.4%0.72−35.0%0.03%$96B98%
SCHB Broad MarketSchwab U.S. Broad Market ETF0/5 short0/3 long−0.9%+3.2%+8.3%+13.1%+15.2%+88.0%+72.9%+286%17.3%0.72−35.3%0.03%$44B98%
SPMD Broad MarketState Street SPDR Portfolio S&P 400 Mid Cap ETF0/5 short0/3 long−0.2%−2.1%+0.3%+10.2%+13.5%+59.5%+41.6%+181%19.6%0.46−41.9%0.03%$18B66%
EQAL Broad MarketInvesco Russell 1000 Equal Weight ETF0/5 short0/3 long−0.2%+0.4%+1.1%+12.1%+14.3%+61.4%+36.4%+171%17.2%0.45−40.4%0.20%$802M70%
IWM Broad MarketiShares Russell 2000 ETF0/5 short0/3 long−3.4%−5.4%−0.1%+11.6%+12.3%+71.3%+29.0%+158%22.4%0.34−41.1%0.19%$75B65%
VXUS InternationalVanguard Total International Stock ETF0/5 short0/3 long−3.9%+1.0%+0.9%+10.2%+14.6%+77.2%+48.6%+140%16.4%0.57−36.0%0.05%$666B72%
AGG BondsiShares Core U.S. Aggregate Bond ETF0/5 short0/3 long−0.6%−1.7%−2.6%−1.7%−1.9%+16.2%−1.5%+13.3%6.1%-0.02−18.4%0.03%$139B—
DFUS Broad MarketDimensional U.S. Equity ETF0/5 short0/3 long−0.7%+3.5%+8.7%+13.3%+15.7%+88.9%+78.8%—17.3%0.76−24.6%0.09%$21B98%
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How did SPYM do year by year?

This table shows each investment's total return in every full calendar year since 2006, along with where SPYM ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with SPYM and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

Note: SPYM began trading on November 15, 2005, so the table starts with 2006, its first full calendar year, and cannot show how it fared during the dot-com bust.

Newest year first. Green marks a year in which the fund came out ahead of SPYM; gray means the two finished within a fraction of a point. The rank row places SPYM among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of SPYM20252024202320222021202020192018201720162015201420132012201120102009200820072006
SPYM This pageState Street SPDR Portfolio S&P 500 ETF—+17.8%+25.0%+26.2%−18.1%+28.8%+18.5%+31.9%−4.8%+21.4%+11.8%+1.2%+13.7%+33.2%+15.1%+1.7%+15.8%+27.4%−37.0%+5.7%+14.5%
Rank among alternativesTop quarter in 6 of 207 of 184 of 186 of 1810 of 185 of 187 of 182 of 176 of 176 of 1713 of 174 of 173 of 168 of 1513 of 154 of 1411 of 138 of 116 of 114 of 118 of 11
QQQ Invesco QQQ Trust, Series 114 of 20+20.8%+25.6%+54.9%−32.6%+27.4%+48.6%+39.0%−0.1%+32.7%+7.1%+9.4%+19.2%+36.6%+18.1%+3.4%+19.9%+54.7%−41.7%+19.0%+7.2%
DYNF iShares U.S. Equity Factor Rotation Active ETF3 of 6+20.0%+30.3%+36.2%−20.3%+24.9%+13.5%——————————————
FNDX Schwab Fundamental U.S. Large Company ETF3 of 12+16.9%+16.7%+18.3%−7.0%+31.7%+9.2%+28.7%−7.3%+16.5%+16.4%−3.0%+12.6%————————
PRF Invesco RAFI US 1000 ETF9 of 20+18.4%+16.7%+15.7%−7.8%+31.2%+7.8%+27.4%−8.7%+16.0%+17.3%−2.9%+12.2%+35.0%+16.9%−0.5%+19.8%+41.6%−40.1%+1.8%+19.0%
VTV Vanguard Morningstar Value ETF3 of 20+15.3%+16.0%+9.3%−2.1%+26.5%+2.3%+25.7%−5.5%+17.1%+17.1%−1.0%+13.2%+33.1%+15.2%+1.1%+14.5%+19.9%−35.9%−0.1%+22.4%
RSP Invesco S&P 500 Equal Weight ETF8 of 20+11.2%+12.8%+13.7%−11.6%+29.4%+12.7%+28.9%−7.8%+18.5%+14.5%−1.7%+15.1%+36.7%+18.6%+0.2%+21.5%+44.7%−40.0%+0.9%+15.5%
VV Vanguard Morningstar Large-Cap ETF5 of 20+18.1%+25.3%+27.2%−19.9%+27.4%+21.0%+31.3%−4.5%+22.0%+11.8%+1.0%+13.4%+32.7%+16.2%+1.4%+15.9%+27.3%−36.7%+6.2%+15.5%
VOO Vanguard S&P 500 ETF1 of 15+17.8%+25.0%+26.3%−18.2%+28.8%+18.3%+31.4%−4.5%+21.8%+12.2%+1.3%+13.6%+32.4%+16.0%+1.9%—————
SCHX Schwab U.S. Large-Cap ETF2 of 16+17.5%+24.9%+26.8%−19.4%+26.8%+21.0%+31.2%−4.5%+21.6%+12.1%+1.0%+13.3%+32.6%+16.4%+1.6%+15.9%————
SPTM State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF2 of 20+16.9%+23.9%+25.6%−17.8%+28.5%+18.0%+31.4%−5.3%+21.1%+12.3%+0.2%+13.4%+33.6%+15.8%+0.8%+17.3%+28.1%−36.6%+5.2%+14.8%
VTI Vanguard Morningstar Total Stock Market ETF6 of 20+17.1%+23.8%+26.0%−19.5%+25.7%+21.1%+30.7%−5.2%+21.2%+12.8%+0.4%+12.5%+33.4%+16.4%+1.0%+17.4%+28.9%−37.0%+5.3%+15.7%
SCHB Schwab U.S. Broad Market ETF2 of 16+16.9%+23.9%+26.1%−19.4%+25.8%+19.6%+29.5%−6.1%+20.0%+14.7%−0.7%+11.5%+31.8%+14.8%+1.0%+16.3%————
SPMD State Street SPDR Portfolio S&P 400 Mid Cap ETF6 of 20+7.4%+13.9%+16.4%−13.1%+24.7%+13.5%+25.2%−10.4%+15.2%+18.3%+1.7%+8.2%+38.9%+17.0%−1.2%+24.7%+45.1%−38.4%+4.6%+9.5%
EQAL Invesco Russell 1000 Equal Weight ETF2 of 11+11.1%+11.4%+12.0%−13.5%+23.1%+16.6%+24.6%−9.2%+17.4%+15.6%−4.8%—————————
IWM iShares Russell 2000 ETF8 of 20+12.7%+11.4%+16.8%−20.5%+14.5%+20.0%+25.4%−11.1%+14.6%+21.6%−4.5%+5.0%+38.7%+16.7%−4.4%+26.9%+28.5%−34.2%−1.8%+18.3%
VXUS Vanguard Total International Stock ETF4 of 14+32.3%+5.1%+15.9%−16.1%+9.0%+10.7%+21.7%−14.4%+27.5%+4.8%−4.2%−4.7%+14.6%+18.6%——————
AGG iShares Core U.S. Aggregate Bond ETF5 of 20+7.2%+1.3%+5.7%−13.0%−1.8%+7.5%+8.5%+0.1%+3.6%+2.4%+0.5%+6.0%−2.0%+3.8%+7.7%+6.3%+3.0%+7.9%+6.6%+3.9%
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Risk and diversification

How SPYM has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.

What were SPYM's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents SPYM's five deepest drawdowns since it began trading in 2005, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.

Note: SPYM began trading on November 15, 2005, so this list cannot include the dot-com bust. The crash tests on this page show how older funds fared through those years.

Green means SPYM fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringSPYM fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
2008 financial crisis−54.6%−55.1%Oct 2007Mar 200917 monthsMar 20123 years
Covid crash−33.9%−33.7%Feb 2020Mar 20201 monthAug 20205 months
2022 bear market−24.5%−24.5%Jan 2022Oct 20229 monthsDec 202314 months
Late-2018 sell-off−19.8%−19.4%Sep 2018Dec 20183 monthsApr 20194 months
No named crash−18.7%−18.8%Feb 2025Apr 20252 monthsJun 20252 months

How did SPYM do in stock market crashes?

This section measures how far SPYM and each alternative fell from peak to trough during every major market crash since 2000. A smaller decline means an investment held up better, and comparing results across crashes shows whether that resilience was consistent or a one-off.

Note: SPYM began trading on November 15, 2005, so its row reads "Not yet trading" for the dot-com bust. The older alternatives show how those crashes played out.

Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than SPYM.

InvestmentHeld up better2023 regional bank crisisMar 20232022 bear marketJan 2022Covid crashFeb 2020Late-2018 sell-offSep 2018February 2018 volatility shockFeb 20182015 China and oil sell-offAug 20152011 euro debt crisisJul 20112010 flash crashMay 20102008 financial crisisOct 2007Dot-com bustMar 2000
SPYM This pageState Street SPDR Portfolio S&P 500 ETF—−3.4%−24.4%−33.9%−19.7%−6.4%−13.6%−18.1%−1.9%−54.6%Not yet trading
QQQ Invesco QQQ Trust, Series 13 of 9−3.1%−33.4%−28.6%−22.7%−6.8%−16.1%−16.1%−2.5%−53.4%−83.0%
DYNF iShares U.S. Equity Factor Rotation Active ETF0 of 3−3.6%−26.0%−34.7%———————
FNDX Schwab Fundamental U.S. Large Company ETF2 of 6−4.2%−19.1%−37.4%−19.6%−6.2%−12.4%————
PRF Invesco RAFI US 1000 ETF1 of 9−4.6%−19.7%−38.0%−19.7%−6.4%−13.6%−19.4%−1.5%−60.1%—
VTV Vanguard Morningstar Value ETF4 of 9−4.0%−17.0%−36.4%−17.3%−6.5%−11.6%−18.8%−1.1%−59.2%—
RSP Invesco S&P 500 Equal Weight ETF1 of 9−5.4%−21.4%−39.0%−19.8%−6.1%−14.8%−21.3%−1.6%−59.1%—
VV Vanguard Morningstar Large-Cap ETF0 of 9−3.5%−25.5%−34.3%−19.3%−6.4%−13.3%−18.6%−1.7%−54.8%—
VOO Vanguard S&P 500 ETF1 of 7−3.4%−24.5%−34.0%−19.4%−6.5%−12.8%−18.0%———
SCHX Schwab U.S. Large-Cap ETF1 of 8−3.7%−25.2%−34.3%−19.4%−6.4%−13.4%−18.5%−1.2%——
SPTM State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF0 of 9−3.8%−24.1%−34.7%−20.2%−6.3%−13.5%−18.8%−2.0%−54.7%—
VTI Vanguard Morningstar Total Stock Market ETF0 of 9−4.0%−25.2%−35.0%−20.0%−6.3%−14.1%−19.5%−1.9%−55.5%—
SCHB Schwab U.S. Broad Market ETF0 of 8−4.0%−25.3%−35.3%−20.5%−6.2%−14.5%−19.0%−1.6%——
SPMD State Street SPDR Portfolio S&P 400 Mid Cap ETF2 of 9−7.0%−22.7%−41.9%−23.7%−5.8%−17.6%−24.5%−2.7%−57.1%—
EQAL Invesco Russell 1000 Equal Weight ETF1 of 6−5.7%−21.4%−40.2%−21.0%−6.3%−17.5%————
IWM iShares Russell 2000 ETF1 of 9−7.1%−26.8%−40.8%−25.7%−5.5%−21.5%−27.2%−2.9%−58.4%—
VXUS Vanguard Total International Stock ETF2 of 7−2.5%−28.4%−33.4%−15.1%−6.1%−20.2%−24.2%———
AGG iShares Core U.S. Aggregate Bond ETF9 of 90.0%−14.5%−9.6%−1.1%−0.8%−1.5%−1.3%−0.4%−12.8%—
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What diversifies SPYM?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions). This section lists large ETFs and stocks whose returns have had a low correlation with SPYM's. Because such investments tend not to fall at the same time, pairing SPYM with them can reduce a portfolio's overall swings.

Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which SPYM lost money. The last two columns show a portfolio that is 80% SPYM and 20% the other investment, rebalanced monthly.

ETFs

InvestmentCorrelation5Y returnSharpe20222018200880/20 mix volatility80/20 mix annual return
SPYM State Street SPDR Portfolio S&P 500 ETF (this page)1.00+82.5%0.80−18.1%−4.8%−37.0%15.7%+13.8%
GLD CommoditiesSPDR Gold Shares0.16+126%0.96−0.8%−1.9%+4.9%13.5%+15.1%
XLE EnergyState Street Energy Select Sector SPDR ETF0.30+177%0.93+64.4%−18.2%−39.0%14.9%+16.2%
AMLP EnergyAlerian MLP ETF0.46+111%0.89+25.5%−12.6%—14.6%+15.0%
DBMF AlternativesiMGP DBi Managed Futures Strategy ETF-0.27+59.7%0.82+21.6%——12.1%+13.5%
DBA AlternativesInvesco DB Agriculture Fund0.18+66.4%0.81+2.5%−8.7%−19.1%13.1%+13.5%
IHE Broad MarketiShares U.S. Pharmaceuticals ETF0.48+81.2%0.80−4.9%−7.8%−14.8%14.3%+13.7%
PPH HealthcareVanEck Pharmaceutical ETF0.49+72.8%0.78+2.6%−5.9%−19.9%14.1%+13.4%
GDX MaterialsVanEck Gold Miners ETF0.28+181%0.73−9.0%−8.8%−26.1%16.4%+17.3%

Stocks

InvestmentCorrelation5Y returnSharpe20222018200880/20 mix volatility80/20 mix annual return
SPYM State Street SPDR Portfolio S&P 500 ETF (this page)1.00+82.5%0.80−18.1%−4.8%−37.0%15.7%+13.8%
CAH Medical - DistributionCardinal Health, Inc.0.29+479%1.55+54.1%−24.5%−39.6%14.9%+18.9%
MCK Medical - DistributionMcKesson Corporation0.18+413%1.44+51.8%−28.4%−40.4%14.3%+18.3%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.26+690%1.41+86.6%−8.2%—15.6%+21.0%
ATI Manufacturing - Metal FabricationATI Inc.0.33+1,008%1.34+87.5%−9.8%−70.0%18.0%+24.0%
CRS SteelCarpenter Technology Corporation0.40+1,082%1.30+29.5%−29.2%−72.1%18.9%+24.6%
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Common questions

What was SPYM's worst drawdown?

SPYM's deepest decline since it began trading in 2005 was 54.6%, from October 2007 to March 2009. It took about three years from the low to climb back to its old high. Because SPYM launched in November 2005, that record does not include the dot-com bust.

What were SPYM's best and worst years?

Over 20 full calendar years, SPYM's best year was 2013, when it returned 33.2%. Its worst was 2008, with a return of -37.0%.

Is there a better investment than SPYM?

Among SPYM's popular alternatives, QQQ was ahead of SPYM in most short and long periods, though with much bigger swings (23.0% volatility against 16.9%). Looking beyond its popular alternatives, PVAL (US large-cap value) earned more than SPYM with less volatility over the past 5 years: 16.1% a year at 15.1% volatility, against 12.8% a year at 16.9%.

Is SPYM more volatile than the S&P 500?

No. SPYM's volatility over the past 5 years was 16.9%, 1.0 times the S&P 500's 17.5%. Volatility measures how widely returns swing around their average: in roughly two years out of three, SPYM's return lands within 16.9% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

What is SPYM's Sharpe ratio?

SPYM's Sharpe ratio over the past 5 years was 0.80, against 0.71 for the S&P 500, so SPYM earned more for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.

How correlated is SPYM with the S&P 500?

Over the past 5 years, SPYM's monthly returns had a correlation of 1.00 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They move almost in lockstep, so holding both adds little diversification. In the table, the correlation column measures each option against SPYM instead: the lower it is, the more that option would diversify a SPYM holding.

What are the best alternatives to SPYM?

Of the 23 popular alternatives we compared, one outperformed SPYM in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: QQQ.

What diversifies SPYM?

These had a low correlation with SPYM over the past 5 years and still earned a positive 5-year return: among large ETFs, GLD (correlation 0.16), XLE (correlation 0.30) and AMLP (correlation 0.46); among large stocks, CAH (correlation 0.29), MCK (correlation 0.18) and MPC (correlation 0.26). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to SPYM