AQNB vs SPY

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

5-Year PerformanceSPY has outperformed AQNB, delivering a return of +13.3% compared to +6.0%

AQNB vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	AQNB(COMPANY)	SPY(ETF)
Market Cap / Net Assets	$20B	$652B
Expense Ratio	N/A	0.09%
Max Drawdown	43.48%	56.47%
Sharpe Ratio	1.41	2.07
5Y Beta	0.08	1.00
P/E Ratio	110.71	28.24
Forward P/E	N/A	21.85
Dividend Yield	5.50%	N/A
5Y Dividends CAGR	11.26%	5.43%
5Y EPS CAGR	-9.80%	25.79%
Debt to Equity	140.76%	22.35%
Free Cash Flow Yield	2.97%	N/A
P/S Ratio	N/A	3.55
P/B Ratio	N/A	5.29

Market Cap / Net Assets

AQNB

$20B

Winner

SPY

$652B

Expense Ratio

AQNB

N/A

SPY

0.09%

Max Drawdown

Winner

AQNB

43.48%

SPY

56.47%

Sharpe Ratio

AQNB

1.41

Winner

SPY

2.07

5Y Beta

Winner

AQNB

0.08

SPY

1.00

P/E Ratio

AQNB

110.71

Winner

SPY

28.24

Forward P/E

AQNB

N/A

SPY

21.85

Dividend Yield

AQNB

5.50%

SPY

N/A

5Y Dividends CAGR

Winner

AQNB

11.26%

SPY

5.43%

5Y EPS CAGR

AQNB

-9.80%

Winner

SPY

25.79%

Debt to Equity

AQNB

140.76%

Winner

SPY

22.35%

Free Cash Flow Yield

AQNB

2.97%

SPY

N/A

P/S Ratio

AQNB

N/A

SPY

3.55

P/B Ratio

AQNB

N/A

SPY

5.29

AQNB vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	AQNB	SPY
1 month	+1.07%	+9.11%
3 months	+3.93%	+6.59%
6 months	+6.76%	+10.56%
1 year	+13.87%	+32.04%
5 years(CAGR)	+6.03%	+13.35%
10 years(CAGR)	N/A	+15.49%
Max(CAGR)	+7.31%	+8.50%

AQNB

+1.07%

Winner

SPY

+9.11%

AQNB

+3.93%

Winner

SPY

+6.59%

AQNB

+6.76%

Winner

SPY

+10.56%

AQNB

+13.87%

Winner

SPY

+32.04%

5Y(CAGR)

AQNB

+6.03%

Winner

SPY

+13.35%

10Y(CAGR)

AQNB

N/A

SPY

+15.49%

Max(CAGR)

AQNB

+7.31%

Winner

SPY

+8.50%

AQNB vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	AQNB	SPY
2026	+5.13%	+8.27%
2025	+9.53%	+18.00%
2024	+12.34%	+25.59%
2023	+19.23%	+26.72%
2022	-16.25%	-18.64%
2021	+3.22%	+30.52%
2020	+5.60%	+17.28%
2019	+14.34%	+31.09%
2018	N/A	-5.24%
2017	N/A	+20.78%
2016	N/A	+13.59%
2015	N/A	+1.31%
2014	N/A	+14.56%
2013	N/A	+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%

AQNB vs SPY Drawdown Comparison

The maximum drawdown for AQNB was -42.58%, occurring on Mar 18, 2020. Recovery took 161 trading sessions.

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

Rank	AQNB	SPY
#1	-42.58% Feb 7, 2020 - Sep 28, 2020	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-18.66% Jul 8, 2021 - Nov 29, 2023	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-5.05% Sep 29, 2020 - Nov 10, 2020	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-4.86% Feb 9, 2021 - May 3, 2021	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-4.18% Oct 25, 2019 - Dec 23, 2019	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-3.82% Mar 21, 2025 - Jun 16, 2025	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-3.63% Sep 27, 2024 - Feb 26, 2025	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-3.62% Sep 4, 2019 - Oct 1, 2019	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-3.15% Nov 17, 2020 - Feb 4, 2021	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-2.90% Dec 27, 2023 - Jan 24, 2024	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-2.78% May 3, 2021 - May 20, 2021	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-2.72% Jul 3, 2025 - Sep 19, 2025	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-2.33% Jul 12, 2024 - Sep 5, 2024	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-1.80% Jun 14, 2021 - Jul 8, 2021	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-1.65% Feb 26, 2025 - Mar 14, 2025	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between AQNB and SPY is 0.96 which considered as a very strong positive correlation - the stocks move almost identically together.

0.96

-101

Dividend Comparison (1999 - 2026)

AQNB vs SPY dividend yield comparison.

Year	AQNB	SPY
2026	1.86%	0.24%
2025	8.46%	1.07%
2024	7.75%	1.21%
2023	6.43%	1.40%
2022	7.27%	1.65%
2021	5.70%	1.20%
2020	5.51%	1.52%
2019	3.33%	1.75%
2018	0.00%	2.04%
2017	0.00%	1.80%
2016	0.00%	2.03%
2015	0.00%	2.06%
2014	0.00%	1.87%
2013	0.00%	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%