BMA vs SPY

Comparison between Banco Macro S.A. (BMA, Company) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceBMA has outperformed SPY, delivering a return of +45.3% compared to +13.8%

BMA vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	BMA(COMPANY)	SPY(ETF)
Market Cap / Net Assets	$4.61B	$735B
Expense Ratio	N/A	0.09%
Max Drawdown	92.62%	56.47%
Sharpe Ratio	-0.02	1.67
5Y Beta	1.54	1.00
Industry	Banks - Regional	N/A
P/E Ratio	19.57	28.81
Forward P/E	3.10	22.07
Dividend Yield	6.14%	N/A
5Y Dividends CAGR	N/A	5.43%
5Y EPS CAGR	-6.16%	25.84%
Debt to Equity	N/A	34.16%
Free Cash Flow Yield	-60.15%	N/A
P/S Ratio	N/A	3.69
P/B Ratio	N/A	5.54

Market Cap / Net Assets

BMA

$4.61B

Winner

SPY

$735B

Expense Ratio

BMA

N/A

SPY

0.09%

Max Drawdown

BMA

92.62%

Winner

SPY

56.47%

Sharpe Ratio

BMA

-0.02

Winner

SPY

1.67

5Y Beta

BMA

1.54

Winner

SPY

1.00

Industry

BMA

Banks - Regional

SPY

N/A

P/E Ratio

Winner

BMA

19.57

SPY

28.81

Forward P/E

Winner

BMA

3.10

SPY

22.07

Dividend Yield

BMA

6.14%

SPY

N/A

5Y Dividends CAGR

BMA

N/A

SPY

5.43%

5Y EPS CAGR

BMA

-6.16%

Winner

SPY

25.84%

Debt to Equity

BMA

N/A

SPY

34.16%

Free Cash Flow Yield

BMA

-60.15%

SPY

N/A

P/S Ratio

BMA

N/A

SPY

3.69

P/B Ratio

BMA

N/A

SPY

5.54

BMA vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	BMA	SPY
1 month	-12.42%	+4.59%
3 months	-20.49%	+7.81%
6 months	-3.20%	+14.24%
1 year	-19.65%	+26.47%
5 years(CAGR)	+45.29%	+13.84%
10 years(CAGR)	+6.36%	+15.57%
Max(CAGR)	+9.79%	+8.50%

BMA

-12.42%

Winner

SPY

+4.59%

BMA

-20.49%

Winner

SPY

+7.81%

BMA

-3.20%

Winner

SPY

+14.24%

BMA

-19.65%

Winner

SPY

+26.47%

5Y(CAGR)

Winner

BMA

+45.29%

SPY

+13.84%

10Y(CAGR)

BMA

+6.36%

Winner

SPY

+15.57%

Max(CAGR)

Winner

BMA

+9.79%

SPY

+8.50%

BMA vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	BMA	SPY
2026	-16.71%	+8.80%
2025	-14.47%	+18.00%
2024	+286.66%	+25.59%
2023	+98.94%	+26.72%
2022	+24.78%	-18.64%
2021	-4.10%	+30.52%
2020	-57.18%	+17.28%
2019	-13.37%	+31.09%
2018	-61.04%	-5.24%
2017	+66.78%	+20.78%
2016	+12.32%	+13.59%
2015	+39.04%	+1.31%
2014	+104.57%	+14.56%
2013	+27.40%	+29.00%
2012	-11.21%	+14.17%
2011	-59.83%	+0.85%
2010	+73.15%	+13.14%
2009	+151.68%	+22.67%
2008	-52.98%	-36.25%
2007	-21.87%	+5.32%
2006	+39.32%	+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%

BMA vs SPY Drawdown Comparison

The maximum drawdown for BMA was -91.65%, occurring on Jul 21, 2022. Recovery took 1798 trading sessions.

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

The current BMA drawdown is -33.91%. The current SPY drawdown is -0.92%.

Rank	BMA	SPY
#1	-91.65% Oct 23, 2017 - Dec 16, 2024	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-81.41% Feb 13, 2007 - Jul 20, 2010	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-77.47% Dec 10, 2010 - Feb 12, 2015	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-65.39% Jan 7, 2025 - Sep 19, 2025	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-43.92% Mar 17, 2015 - Nov 20, 2015	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-23.18% Nov 20, 2015 - Feb 18, 2016	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-22.89% Oct 19, 2016 - Feb 9, 2017	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-21.80% May 10, 2006 - Nov 8, 2006	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-19.36% Feb 25, 2016 - Apr 19, 2016	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-18.55% Apr 19, 2016 - Jun 17, 2016	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-12.09% Jun 5, 2017 - Aug 14, 2017	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-10.90% Aug 25, 2016 - Oct 19, 2016	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-10.85% Dec 16, 2024 - Jan 2, 2025	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-10.66% Jun 20, 2016 - Jul 13, 2016	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-10.56% Aug 10, 2010 - Sep 14, 2010	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between BMA and SPY is 0.57 which considered as a moderate positive correlation - the stocks show some tendency to move together.

0.57

-101

Dividend Comparison (1999 - 2026)

BMA vs SPY dividend yield comparison.

Year	BMA	SPY
2026	2.91%	0.24%
2025	2.38%	1.07%
2024	6.10%	1.21%
2023	7.75%	1.40%
2022	7.28%	1.65%
2021	0.00%	1.20%
2020	0.00%	1.52%
2019	6.20%	1.75%
2018	5.05%	2.04%
2017	0.65%	1.80%
2016	1.53%	2.03%
2015	0.00%	2.06%
2014	7.15%	1.87%
2013	0.00%	1.81%
2012	0.00%	2.18%
2011	10.67%	2.05%
2010	1.77%	1.80%
2009	2.18%	1.95%
2008	7.34%	3.02%
2007	1.96%	1.85%
2006	1.99%	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%