CARL vs SPY
Comparison between Carlsmed Inc (CARL, Company) and SPDR S&P 500 ETF Trust (SPY, ETF).
CARL vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Market Cap / Net Assets
CARL
$319M
Winner
SPY
$735B
Expense Ratio
CARL
N/A
SPY
0.09%
Max Drawdown
Winner
CARL
48.03%
SPY
56.47%
Sharpe Ratio
CARL
-0.26
Winner
SPY
2.00
5Y Beta
CARL
1.60
Winner
SPY
1.00
Industry
CARL
Health Information Services
SPY
N/A
P/E Ratio
Winner
CARL
-10.52
SPY
28.99
Forward P/E
CARL
N/A
SPY
22.43
5Y Dividends CAGR
CARL
N/A
SPY
5.43%
5Y EPS CAGR
CARL
N/A
SPY
26.05%
Debt to Equity
Winner
CARL
16.66%
SPY
32.40%
Free Cash Flow Yield
CARL
-14.11%
SPY
N/A
P/S Ratio
CARL
5.50
Winner
SPY
3.74
P/B Ratio
Winner
CARL
3.37
SPY
5.61
CARL vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
Winner
CARL
+7.28%
SPY
+5.40%
3M
CARL
-23.93%
Winner
SPY
+10.97%
6M
CARL
-32.69%
Winner
SPY
+12.09%
1Y
CARL
-29.86%
Winner
SPY
+29.62%
5Y(CAGR)
CARL
N/A
SPY
+14.12%
10Y(CAGR)
CARL
N/A
SPY
+15.55%
Max(CAGR)
CARL
-33.81%
Winner
SPY
+8.59%
CARL vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | CARL | SPY |
|---|---|---|
| 2026 | -12.55% | +11.49% |
| 2025 | -14.83% | +18.00% |
| 2024 | N/A | +25.59% |
| 2023 | N/A | +26.72% |
| 2022 | N/A | -18.64% |
| 2021 | N/A | +30.52% |
| 2020 | N/A | +17.28% |
| 2019 | N/A | +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% |
CARL vs SPY Drawdown Comparison
The maximum drawdown for CARL was -48.03%, occurring on Apr 29, 2026. 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 CARL drawdown is -40.14%.
| Rank | CARL | SPY |
|---|---|---|
| #1 | -48.03% Dec 3, 2025 - Apr 29, 2026 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -23.00% Sep 18, 2025 - Nov 26, 2025 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -17.39% Jul 30, 2025 - Sep 12, 2025 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -7.92% Nov 28, 2025 - Dec 3, 2025 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -1.57% Sep 16, 2025 - Sep 18, 2025 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -0.95% Sep 12, 2025 - Sep 16, 2025 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -0.34% Jul 23, 2025 - Jul 30, 2025 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | N/A | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | N/A | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | N/A | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | N/A | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | N/A | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | N/A | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | N/A | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | N/A | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between CARL and SPY is -0.42 which considered as a weak negative correlation - the stocks show a slight tendency to move in opposite directions.
-0.42
-101
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