CWAN vs SPY

Comparison between Clearwater Analytics Holdings Inc Class A (CWAN, Company) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed CWAN, delivering a return of +13.7% compared to -0.9%

CWAN vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	CWAN(COMPANY)	SPY(ETF)
Market Cap / Net Assets	$7.18B	$735B
Expense Ratio	N/A	0.09%
Max Drawdown	54.15%	56.47%
Sharpe Ratio	0.08	1.76
5Y Beta	0.84	1.00
Industry	Software - Application	N/A
P/E Ratio	-234.65	28.46
Forward P/E	34.84	21.99
PEG Ratio	10.23	N/A
5Y Dividends CAGR	N/A	5.43%
5Y EPS CAGR	N/A	25.20%
Debt to Equity	39.35%	33.33%
Free Cash Flow Yield	2.13%	N/A
P/S Ratio	8.81	3.65
P/B Ratio	3.53	5.50

Market Cap / Net Assets

CWAN

$7.18B

Winner

SPY

$735B

Expense Ratio

CWAN

N/A

SPY

0.09%

Max Drawdown

Winner

CWAN

54.15%

SPY

56.47%

Sharpe Ratio

CWAN

0.08

Winner

SPY

1.76

5Y Beta

Winner

CWAN

0.84

SPY

1.00

Industry

CWAN

Software - Application

SPY

N/A

P/E Ratio

Winner

CWAN

-234.65

SPY

28.46

Forward P/E

CWAN

34.84

Winner

SPY

21.99

PEG Ratio

CWAN

10.23

SPY

N/A

5Y Dividends CAGR

CWAN

N/A

SPY

5.43%

5Y EPS CAGR

CWAN

N/A

SPY

25.20%

Debt to Equity

CWAN

39.35%

Winner

SPY

33.33%

Free Cash Flow Yield

CWAN

2.13%

SPY

N/A

P/S Ratio

CWAN

8.81

Winner

SPY

3.65

P/B Ratio

Winner

CWAN

3.53

SPY

5.50

CWAN vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	CWAN	SPY
1 month	+1.27%	+5.60%
3 months	+5.16%	+8.72%
6 months	+26.47%	+10.63%
1 year	+1.40%	+26.62%
5 years(CAGR)	-0.89%	+13.70%
10 years(CAGR)	N/A	+15.47%
Max(CAGR)	-0.89%	+8.50%

CWAN

+1.27%

Winner

SPY

+5.60%

CWAN

+5.16%

Winner

SPY

+8.72%

Winner

CWAN

+26.47%

SPY

+10.63%

CWAN

+1.40%

Winner

SPY

+26.62%

5Y(CAGR)

CWAN

-0.89%

Winner

SPY

+13.70%

10Y(CAGR)

CWAN

N/A

SPY

+15.47%

Max(CAGR)

CWAN

-0.89%

Winner

SPY

+8.50%

CWAN vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	CWAN	SPY
2026	+0.97%	+8.50%
2025	-11.36%	+18.00%
2024	+41.27%	+25.59%
2023	+7.69%	+26.72%
2022	-12.38%	-18.64%
2021	-9.42%	+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%

CWAN vs SPY Drawdown Comparison

The maximum drawdown for CWAN was -54.15%, occurring on Jun 30, 2022. Recovery took 749 trading sessions.

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

The current CWAN drawdown is -25.75%. The current SPY drawdown is -1.20%.

Rank	CWAN	SPY
#1	-54.15% Oct 22, 2021 - Oct 16, 2024	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-51.54% Nov 7, 2024 - Nov 6, 2025	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-14.73% Sep 29, 2021 - Oct 21, 2021	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-4.71% Oct 18, 2024 - Nov 6, 2024	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-0.63% Sep 24, 2021 - Sep 28, 2021	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	N/A	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	N/A	-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