CBOE vs SPY
Comparison between Cboe Global Markets Inc (CBOE, Company) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceCBOE has outperformed SPY, delivering a return of +28.1% compared to +13.3%
CBOE vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Market Cap / Net Assets
CBOE
$36B
Winner
SPY
$652B
Expense Ratio
CBOE
N/A
SPY
0.09%
Max Drawdown
Winner
CBOE
44.70%
SPY
56.47%
Sharpe Ratio
CBOE
1.68
Winner
SPY
2.07
5Y Beta
Winner
CBOE
-0.22
SPY
1.00
Industry
CBOE
Financial Data & Stock Exchanges
SPY
N/A
P/E Ratio
CBOE
29.18
Winner
SPY
28.24
Forward P/E
CBOE
30.30
Winner
SPY
21.85
PEG Ratio
CBOE
0.55
SPY
N/A
Dividend Yield
CBOE
0.82%
SPY
N/A
5Y Dividends CAGR
Winner
CBOE
11.55%
SPY
5.43%
5Y EPS CAGR
CBOE
23.22%
Winner
SPY
25.79%
Debt to Equity
CBOE
26.86%
Winner
SPY
22.35%
Free Cash Flow Yield
CBOE
7.56%
SPY
N/A
P/S Ratio
CBOE
7.40
Winner
SPY
3.55
P/B Ratio
CBOE
6.60
Winner
SPY
5.29
CBOE vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
Winner
CBOE
+17.24%
SPY
+9.11%
3M
Winner
CBOE
+24.25%
SPY
+6.59%
6M
Winner
CBOE
+36.37%
SPY
+10.56%
1Y
Winner
CBOE
+54.29%
SPY
+32.04%
5Y(CAGR)
Winner
CBOE
+28.08%
SPY
+13.35%
10Y(CAGR)
Winner
CBOE
+20.21%
SPY
+15.49%
Max(CAGR)
Winner
CBOE
+18.00%
SPY
+8.50%
CBOE vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | CBOE | SPY |
|---|---|---|
| 2026 | +40.66% | +8.27% |
| 2025 | +29.26% | +18.00% |
| 2024 | +10.97% | +25.59% |
| 2023 | +43.39% | +26.72% |
| 2022 | -0.69% | -18.64% |
| 2021 | +43.01% | +30.52% |
| 2020 | -20.85% | +17.28% |
| 2019 | +26.67% | +31.09% |
| 2018 | -19.41% | -5.24% |
| 2017 | +72.52% | +20.78% |
| 2016 | +17.16% | +13.59% |
| 2015 | +3.86% | +1.31% |
| 2014 | +26.20% | +14.56% |
| 2013 | +76.75% | +29.00% |
| 2012 | +18.60% | +14.17% |
| 2011 | +10.73% | +0.85% |
| 2010 | -29.02% | +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% |
CBOE vs SPY Drawdown Comparison
The maximum drawdown for CBOE was -43.22%, occurring on Mar 18, 2020. Recovery took 945 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
| Rank | CBOE | SPY |
|---|---|---|
| #1 | -43.22% Jan 25, 2018 - Oct 26, 2021 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -39.39% Jun 23, 2010 - Jan 4, 2013 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -21.78% Nov 2, 2021 - Mar 29, 2023 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -19.93% Mar 17, 2014 - Oct 29, 2014 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -17.11% Jan 7, 2015 - Sep 30, 2015 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -17.03% Nov 27, 2015 - Dec 2, 2016 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -14.48% Feb 23, 2024 - Aug 5, 2024 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -12.14% Nov 27, 2024 - Mar 10, 2025 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -11.11% Aug 2, 2013 - Oct 23, 2013 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -10.32% Mar 3, 2026 - Apr 15, 2026 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -9.95% Nov 22, 2013 - Feb 10, 2014 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -9.05% Mar 31, 2025 - May 2, 2025 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -8.84% May 7, 2025 - Jul 7, 2025 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -8.43% Oct 24, 2024 - Nov 26, 2024 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -8.16% Aug 11, 2025 - Nov 6, 2025 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between CBOE and SPY is 0.97 which considered as a very strong positive correlation - the stocks move almost identically together.
0.97
-101
Dividend Comparison (1999 - 2026)
CBOE vs SPY dividend yield comparison.
| Year | CBOE | SPY |
|---|---|---|
| 2026 | 0.21% | 0.24% |
| 2025 | 1.08% | 1.07% |
| 2024 | 1.21% | 1.21% |
| 2023 | 1.18% | 1.40% |
| 2022 | 1.56% | 1.65% |
| 2021 | 1.38% | 1.20% |
| 2020 | 1.68% | 1.52% |
| 2019 | 1.12% | 1.75% |
| 2018 | 1.19% | 2.04% |
| 2017 | 0.83% | 1.80% |
| 2016 | 1.30% | 2.03% |
| 2015 | 1.36% | 2.06% |
| 2014 | 1.23% | 1.87% |
| 2013 | 2.23% | 1.81% |
| 2012 | 4.38% | 2.18% |
| 2011 | 1.70% | 2.05% |
| 2010 | 0.87% | 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% |
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