ASA vs SPY
Comparison between ASA Gold and Precious Metals Ltd (ASA, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceASA has outperformed SPY, delivering a return of +20.9% compared to +13.2%
ASA vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
ASA
$1.40B
Winner
SPY
$784B
Expense Ratio
ASA
N/A
SPY
0.09%
Max Drawdown
ASA
81.29%
Winner
SPY
56.47%
Sharpe Ratio
ASA
1.28
Winner
SPY
1.54
5Y Beta
Winner
ASA
0.77
SPY
1.00
P/E Ratio
ASA
N/A
SPY
27.62
Forward P/E
ASA
N/A
SPY
21.11
5Y Dividends CAGR
Winner
ASA
37.97%
SPY
6.00%
5Y EPS CAGR
ASA
N/A
SPY
25.30%
Debt to Equity
ASA
N/A
SPY
31.11%
P/S Ratio
ASA
N/A
SPY
3.49
P/B Ratio
ASA
N/A
SPY
5.30
ASA vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
ASA
-5.90%
Winner
SPY
-1.37%
3M
ASA
-3.25%
Winner
SPY
+12.22%
6M
ASA
-9.94%
Winner
SPY
+7.20%
1Y
Winner
ASA
+70.88%
SPY
+23.58%
5Y(CAGR)
Winner
ASA
+20.92%
SPY
+13.19%
10Y(CAGR)
Winner
ASA
+15.75%
SPY
+15.12%
Max(CAGR)
Winner
ASA
+11.80%
SPY
+8.44%
ASA vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | ASA | SPY |
|---|---|---|
| 2026 | -3.75% | +7.95% |
| 2025 | +185.28% | +18.00% |
| 2024 | +33.84% | +25.59% |
| 2023 | +2.44% | +26.72% |
| 2022 | -31.22% | -18.64% |
| 2021 | -8.86% | +30.52% |
| 2020 | +59.82% | +17.28% |
| 2019 | +44.51% | +31.09% |
| 2018 | -17.92% | -5.24% |
| 2017 | -0.27% | +20.78% |
| 2016 | +52.33% | +13.59% |
| 2015 | -30.87% | +1.31% |
| 2014 | -18.39% | +14.56% |
| 2013 | -44.28% | +29.00% |
| 2012 | -18.82% | +14.17% |
| 2011 | -22.09% | +0.85% |
| 2010 | +32.28% | +13.14% |
| 2009 | +63.12% | +22.67% |
| 2008 | -25.88% | -36.25% |
| 2007 | +30.06% | +5.32% |
| 2006 | +13.74% | +13.85% |
| 2005 | +49.53% | +5.32% |
| 2004 | -7.44% | +10.75% |
| 2003 | +17.72% | +24.18% |
| 2002 | +122.94% | -22.42% |
| 2001 | +43.12% | -10.13% |
| 2000 | -15.52% | -8.84% |
| 1999 | -2.87% | +8.61% |
ASA vs SPY Drawdown Comparison
The maximum drawdown for ASA was -80.31%, occurring on Jan 19, 2016. Recovery took 3643 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current ASA drawdown is -31.03%. The current SPY drawdown is -3.18%.
| Rank | ASA | SPY |
|---|---|---|
| #1 | -80.31% Dec 6, 2010 - Jun 2, 2025 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -64.89% Mar 14, 2008 - Nov 10, 2009 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -35.70% Jun 3, 2002 - Dec 12, 2002 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -35.50% Feb 27, 2026 - Jun 10, 2026 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -30.51% Nov 10, 1999 - Feb 27, 2001 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -27.64% Dec 2, 2003 - Nov 29, 2004 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -27.40% May 9, 2006 - Apr 16, 2007 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -26.97% Nov 29, 2004 - Sep 21, 2005 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -23.37% May 18, 2001 - Dec 18, 2001 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -23.03% Jan 3, 2003 - Aug 8, 2003 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -22.54% Jul 19, 2007 - Sep 20, 2007 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -21.39% Mar 12, 2001 - May 9, 2001 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -19.96% Dec 2, 2009 - Apr 28, 2010 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -17.89% Feb 2, 2006 - Apr 19, 2006 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -17.24% Oct 16, 2025 - Dec 1, 2025 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between ASA and SPY is 0.58 which considered as a moderate positive correlation - the stocks show some tendency to move together.
0.58
-101
Dividend Comparison (1999 - 2026)
ASA vs SPY dividend yield comparison.
| Year | ASA | SPY |
|---|---|---|
| 2026 | 0.07% | 0.50% |
| 2025 | 0.10% | 1.07% |
| 2024 | 0.20% | 1.21% |
| 2023 | 0.13% | 1.40% |
| 2022 | 0.14% | 1.65% |
| 2021 | 0.09% | 1.20% |
| 2020 | 0.09% | 1.52% |
| 2019 | 0.15% | 1.75% |
| 2018 | 0.32% | 2.04% |
| 2017 | 0.35% | 1.80% |
| 2016 | 0.36% | 2.03% |
| 2015 | 0.56% | 2.06% |
| 2014 | 0.40% | 1.87% |
| 2013 | 1.47% | 1.81% |
| 2012 | 1.76% | 2.18% |
| 2011 | 1.37% | 2.05% |
| 2010 | 0.98% | 1.80% |
| 2009 | 5.42% | 1.95% |
| 2008 | 11.76% | 3.02% |
| 2007 | 9.18% | 1.85% |
| 2006 | 4.18% | 1.73% |
| 2005 | 4.91% | 1.73% |
| 2004 | 4.08% | 1.82% |
| 2003 | 5.27% | 1.47% |
| 2002 | 5.86% | 1.70% |
| 2001 | 12.00% | 1.25% |
| 2000 | 5.88% | 1.15% |
| 1999 | 0.00% | 0.24% |
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