AQN vs SPY

Comparison between Algonquin Power & Utilities Corp (AQN, Company) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed AQN, delivering a return of +13.9% compared to -12.7%

AQN vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	AQN(COMPANY)	SPY(ETF)
Market Cap / Net Assets	$4.53B	$735B
Expense Ratio	N/A	0.09%
Max Drawdown	75.93%	56.47%
Sharpe Ratio	0.34	1.67
5Y Beta	0.50	1.00
Industry	Utilities - Diversified	N/A
P/E Ratio	25.05	28.81
Forward P/E	16.10	22.07
Dividend Yield	4.51%	N/A
5Y Dividends CAGR	-12.13%	5.43%
5Y EPS CAGR	-9.80%	25.84%
Debt to Equity	140.76%	34.16%
Free Cash Flow Yield	13.11%	N/A
P/S Ratio	N/A	3.69
P/B Ratio	N/A	5.54

Market Cap / Net Assets

AQN

$4.53B

Winner

SPY

$735B

Expense Ratio

AQN

N/A

SPY

0.09%

Max Drawdown

AQN

75.93%

Winner

SPY

56.47%

Sharpe Ratio

AQN

0.34

Winner

SPY

1.67

5Y Beta

Winner

AQN

0.50

SPY

1.00

Industry

AQN

Utilities - Diversified

SPY

N/A

P/E Ratio

Winner

AQN

25.05

SPY

28.81

Forward P/E

Winner

AQN

16.10

SPY

22.07

Dividend Yield

AQN

4.51%

SPY

N/A

5Y Dividends CAGR

AQN

-12.13%

Winner

SPY

5.43%

5Y EPS CAGR

AQN

-9.80%

Winner

SPY

25.84%

Debt to Equity

AQN

140.76%

Winner

SPY

34.16%

Free Cash Flow Yield

AQN

13.11%

SPY

N/A

P/S Ratio

AQN

N/A

SPY

3.69

P/B Ratio

AQN

N/A

SPY

5.54

AQN vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	AQN	SPY
1 month	-4.68%	+5.49%
3 months	-10.86%	+8.03%
6 months	+1.27%	+13.34%
1 year	+12.73%	+28.89%
5 years(CAGR)	-12.74%	+13.90%
10 years(CAGR)	+1.26%	+15.59%
Max(CAGR)	+8.78%	+8.51%

AQN

-4.68%

Winner

SPY

+5.49%

AQN

-10.86%

Winner

SPY

+8.03%

AQN

+1.27%

Winner

SPY

+13.34%

AQN

+12.73%

Winner

SPY

+28.89%

5Y(CAGR)

AQN

-12.74%

Winner

SPY

+13.90%

10Y(CAGR)

AQN

+1.26%

Winner

SPY

+15.59%

Max(CAGR)

Winner

AQN

+8.78%

SPY

+8.51%

AQN vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	AQN	SPY
2026	-2.41%	+9.02%
2025	+41.89%	+18.00%
2024	-26.60%	+25.59%
2023	-0.32%	+26.72%
2022	-51.42%	-18.64%
2021	-7.04%	+30.52%
2020	+22.42%	+17.28%
2019	+48.35%	+31.09%
2018	-4.96%	-5.24%
2017	+39.71%	+20.78%
2016	+15.29%	+13.59%
2015	+0.44%	+1.31%
2014	+26.60%	+14.56%
2013	-0.20%	+29.00%
2012	+14.24%	+14.17%
2011	+31.89%	+0.85%
2010	+34.05%	+13.14%
2009	+16.77%	+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%

AQN vs SPY Drawdown Comparison

The maximum drawdown for AQN was -69.78%, occurring on Dec 19, 2024. This drawdown has not yet recovered.

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

The current AQN drawdown is -55.49%. The current SPY drawdown is -0.73%.

Rank	AQN	SPY
#1	-69.78% Feb 11, 2021 - Dec 19, 2024	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-42.85% Feb 21, 2020 - Nov 10, 2020	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-26.95% May 10, 2013 - Jul 2, 2014	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-26.12% Mar 17, 2010 - Sep 29, 2010	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-24.47% Dec 2, 2014 - Feb 2, 2016	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-19.18% Jul 21, 2011 - Dec 22, 2011	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-17.49% Aug 18, 2016 - Mar 15, 2017	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-16.53% Aug 29, 2014 - Nov 7, 2014	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-14.47% Jan 15, 2010 - Mar 9, 2010	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-13.95% Dec 28, 2017 - Dec 7, 2018	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-12.96% Feb 4, 2016 - Apr 26, 2016	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-12.53% Mar 2, 2012 - May 3, 2012	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-10.79% Apr 6, 2011 - May 19, 2011	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-9.48% Dec 7, 2018 - Jan 24, 2019	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-8.67% Nov 5, 2010 - Dec 15, 2010	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between AQN and SPY is 0.44 which considered as a weak positive correlation - the stocks show a slight tendency to move together.

0.44

-101

Dividend Comparison (1999 - 2026)

AQN vs SPY dividend yield comparison.

Year	AQN	SPY
2026	1.10%	0.24%
2025	4.23%	1.07%
2024	7.80%	1.21%
2023	6.87%	1.40%
2022	10.94%	1.65%
2021	4.62%	1.20%
2020	3.68%	1.52%
2019	3.90%	1.75%
2018	4.99%	2.04%
2017	4.18%	1.80%
2016	4.88%	2.03%
2015	4.78%	2.06%
2014	4.17%	1.87%
2013	4.87%	1.81%
2012	4.30%	2.18%
2011	4.30%	2.05%
2010	4.76%	1.80%
2009	0.52%	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%