APAM vs SPY

Comparison between Artisan Partners Asset Management Inc - Class A (APAM, Company) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed APAM, delivering a return of +13.9% compared to +2.5%

APAM vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	APAM(COMPANY)	SPY(ETF)
Market Cap / Net Assets	$2.96B	$735B
Expense Ratio	N/A	0.09%
Max Drawdown	74.90%	56.47%
Sharpe Ratio	0.01	1.96
5Y Beta	1.15	1.00
Industry	Asset Management	N/A
P/E Ratio	10.25	28.62
Forward P/E	10.38	22.09
PEG Ratio	1.09	N/A
Dividend Yield	9.13%	N/A
5Y Dividends CAGR	4.86%	5.43%
5Y EPS CAGR	1.89%	26.35%
Debt to Equity	48.84%	33.33%
Free Cash Flow Yield	6.60%	N/A
P/S Ratio	2.12	3.68
P/B Ratio	6.65	5.52

Market Cap / Net Assets

APAM

$2.96B

Winner

SPY

$735B

Expense Ratio

APAM

N/A

SPY

0.09%

Max Drawdown

APAM

74.90%

Winner

SPY

56.47%

Sharpe Ratio

APAM

0.01

Winner

SPY

1.96

5Y Beta

APAM

1.15

Winner

SPY

1.00

Industry

APAM

Asset Management

SPY

N/A

P/E Ratio

Winner

APAM

10.25

SPY

28.62

Forward P/E

Winner

APAM

10.38

SPY

22.09

PEG Ratio

APAM

1.09

SPY

N/A

Dividend Yield

APAM

9.13%

SPY

N/A

5Y Dividends CAGR

APAM

4.86%

Winner

SPY

5.43%

5Y EPS CAGR

APAM

1.89%

Winner

SPY

26.35%

Debt to Equity

APAM

48.84%

Winner

SPY

33.33%

Free Cash Flow Yield

APAM

6.60%

SPY

N/A

P/S Ratio

Winner

APAM

2.12

SPY

3.68

P/B Ratio

APAM

6.65

Winner

SPY

5.52

APAM vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	APAM	SPY
1 month	+1.71%	+4.93%
3 months	-3.72%	+9.70%
6 months	-3.82%	+11.04%
1 year	+1.13%	+28.41%
5 years(CAGR)	+2.53%	+13.90%
10 years(CAGR)	+11.23%	+15.45%
Max(CAGR)	+8.82%	+8.55%

APAM

+1.71%

Winner

SPY

+4.93%

APAM

-3.72%

Winner

SPY

+9.70%

APAM

-3.82%

Winner

SPY

+11.04%

APAM

+1.13%

Winner

SPY

+28.41%

5Y(CAGR)

APAM

+2.53%

Winner

SPY

+13.90%

10Y(CAGR)

APAM

+11.23%

Winner

SPY

+15.45%

Max(CAGR)

Winner

APAM

+8.82%

SPY

+8.55%

APAM vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	APAM	SPY
2026	-2.87%	+10.15%
2025	+4.03%	+18.00%
2024	+5.31%	+25.59%
2023	+54.66%	+26.72%
2022	-31.26%	-18.64%
2021	+5.31%	+30.52%
2020	+69.97%	+17.28%
2019	+65.93%	+31.09%
2018	-36.76%	-5.24%
2017	+40.58%	+20.78%
2016	-6.31%	+13.59%
2015	-23.09%	+1.31%
2014	-16.63%	+14.56%
2013	+70.49%	+29.00%
2012	N/A	+14.17%
2011	N/A	+0.85%
2010	N/A	+13.14%
2009	N/A	+22.67%
2008	N/A	-36.25%
2007	N/A	+5.32%
2006	N/A	+13.85%
2005	N/A	+5.32%
2004	N/A	+10.75%
2003	N/A	+24.18%
2002	N/A	-22.42%
2001	N/A	-10.13%
2000	N/A	-8.84%
1999	N/A	+8.61%

APAM vs SPY Drawdown Comparison

The maximum drawdown for APAM was -59.53%, occurring on Feb 10, 2016. Recovery took 1646 trading sessions.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current APAM drawdown is -13.73%. The current SPY drawdown is -0.02%.

Rank	APAM	SPY
#1	-59.53% Jan 22, 2014 - Aug 5, 2020	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-47.37% Apr 15, 2021 - Dec 15, 2023	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-28.94% Dec 2, 2024 - Jul 9, 2025	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-21.92% Aug 13, 2025 - Mar 12, 2026	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-17.52% Apr 9, 2024 - Oct 16, 2024	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-15.66% Jun 18, 2013 - Oct 22, 2013	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-13.29% Jan 13, 2021 - Mar 17, 2021	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-13.02% Oct 16, 2020 - Nov 10, 2020	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-10.82% Sep 2, 2020 - Oct 7, 2020	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-8.84% Dec 15, 2023 - Mar 4, 2024	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-7.91% Oct 18, 2024 - Nov 6, 2024	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-7.44% Nov 13, 2013 - Dec 6, 2013	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-7.25% Jul 10, 2025 - Aug 13, 2025	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-7.03% May 21, 2013 - Jun 10, 2013	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-6.48% Oct 29, 2013 - Nov 12, 2013	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between APAM and SPY is 0.92 which considered as a very strong positive correlation - the stocks move almost identically together.

0.92

-101

Dividend Comparison (1999 - 2026)

APAM vs SPY dividend yield comparison.

Year	APAM	SPY
2026	6.19%	0.24%
2025	8.91%	1.07%
2024	7.34%	1.21%
2023	6.02%	1.40%
2022	12.36%	1.65%
2021	8.88%	1.20%
2020	6.73%	1.52%
2019	10.49%	1.75%
2018	14.43%	2.04%
2017	6.99%	1.80%
2016	9.41%	2.03%
2015	9.29%	2.06%
2014	7.58%	1.87%
2013	1.32%	1.81%
2012	0.00%	2.18%
2011	0.00%	2.05%
2010	0.00%	1.80%
2009	0.00%	1.95%
2008	0.00%	3.02%
2007	0.00%	1.85%
2006	0.00%	1.73%
2005	0.00%	1.73%
2004	0.00%	1.82%
2003	0.00%	1.47%
2002	0.00%	1.70%
2001	0.00%	1.25%
2000	0.00%	1.15%
1999	0.00%	0.24%