AROW vs SPY
Comparison between Arrow Financial Corp (AROW, Company) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed AROW, delivering a return of +13.0% compared to +8.8%
AROW vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
AROW vs SPY - Historical Returns
Returns include dividend reinvestment.
AROW vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | AROW | SPY |
|---|---|---|
| 2026 | +34.16% | +10.11% |
| 2025 | +17.66% | +18.00% |
| 2024 | +5.92% | +25.59% |
| 2023 | -10.97% | +26.72% |
| 2022 | +0.76% | -18.64% |
| 2021 | +25.05% | +30.52% |
| 2020 | -15.20% | +17.28% |
| 2019 | +22.67% | +31.09% |
| 2018 | -0.20% | -5.24% |
| 2017 | -11.19% | +20.78% |
| 2016 | +57.24% | +13.59% |
| 2015 | +6.47% | +1.31% |
| 2014 | +11.38% | +14.56% |
| 2013 | +13.39% | +29.00% |
| 2012 | +13.65% | +14.17% |
| 2011 | -7.10% | +0.85% |
| 2010 | +17.45% | +13.14% |
| 2009 | +12.41% | +22.67% |
| 2008 | +23.36% | -36.25% |
| 2007 | -4.04% | +5.32% |
| 2006 | +2.91% | +13.85% |
| 2005 | -4.40% | +5.32% |
| 2004 | +17.35% | +10.75% |
| 2003 | +16.38% | +24.18% |
| 2002 | +12.35% | -22.42% |
| 2001 | +70.42% | -10.13% |
| 2000 | +5.76% | -8.84% |
| 1999 | -4.87% | +8.61% |
AROW vs SPY Drawdown Comparison
The maximum drawdown for AROW was -50.55%, occurring on Aug 23, 2023. Recovery took 681 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current AROW drawdown is -2.85%. The current SPY drawdown is -1.24%.
| Rank | AROW | SPY |
|---|---|---|
| #1 | -50.55% Nov 5, 2021 - Jul 25, 2024 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -36.69% Dec 26, 2019 - Mar 10, 2021 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -30.24% Sep 30, 2008 - Aug 4, 2009 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -29.91% Nov 11, 2024 - Dec 16, 2025 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -27.32% Nov 1, 1999 - Dec 14, 2000 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -25.91% Aug 7, 2002 - Dec 16, 2002 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -24.65% Dec 2, 2004 - Apr 21, 2008 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -24.42% Dec 20, 2016 - Jul 25, 2018 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -24.29% Apr 21, 2008 - Aug 11, 2008 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -23.80% Apr 29, 2010 - Nov 29, 2010 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -20.90% May 8, 2002 - Aug 7, 2002 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -20.00% Dec 22, 2010 - Jan 27, 2012 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -19.46% Sep 18, 2008 - Sep 30, 2008 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -18.84% Aug 14, 2018 - Nov 19, 2019 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -18.65% Dec 16, 2002 - Jul 7, 2003 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between AROW and SPY is 0.90 which considered as a strong positive correlation - the stocks tend to move together.
Dividend Comparison (1999 - 2026)
AROW vs SPY dividend yield comparison.
| Year | AROW | SPY |
|---|---|---|
| 2026 | 1.45% | 0.49% |
| 2025 | 3.63% | 1.07% |
| 2024 | 3.80% | 1.21% |
| 2023 | 3.78% | 1.40% |
| 2022 | 3.12% | 1.65% |
| 2021 | 2.89% | 1.20% |
| 2020 | 3.40% | 1.52% |
| 2019 | 2.69% | 1.75% |
| 2018 | 3.12% | 2.04% |
| 2017 | 2.88% | 1.80% |
| 2016 | 2.42% | 2.03% |
| 2015 | 3.63% | 2.06% |
| 2014 | 5.47% | 1.87% |
| 2013 | 5.65% | 1.81% |
| 2012 | 5.95% | 2.18% |
| 2011 | 7.16% | 2.05% |
| 2010 | 6.30% | 1.80% |
| 2009 | 7.27% | 1.95% |
| 2008 | 3.90% | 3.02% |
| 2007 | 7.67% | 1.85% |
| 2006 | 7.01% | 1.73% |
| 2005 | 6.69% | 1.73% |
| 2004 | 5.92% | 1.82% |
| 2003 | 3.01% | 1.47% |
| 2002 | 8.21% | 1.70% |
| 2001 | 7.92% | 1.25% |
| 2000 | 4.13% | 1.15% |
| 1999 | 0.98% | 0.24% |
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