DUOL vs SPY

Comparison between Duolingo Inc - Class A (DUOL, Company) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed DUOL, delivering a return of +13.8% compared to -5.3%

DUOL vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	DUOL(COMPANY)	SPY(ETF)
Market Cap / Net Assets	$5.23B	$735B
Expense Ratio	N/A	0.09%
Max Drawdown	83.35%	56.47%
Sharpe Ratio	-2.30	1.67
5Y Beta	1.44	1.00
Industry	Software - Application	N/A
P/E Ratio	12.61	28.81
Forward P/E	15.22	22.07
PEG Ratio	0.03	N/A
5Y Dividends CAGR	N/A	5.43%
5Y EPS CAGR	N/A	25.84%
Debt to Equity	0.00%	34.16%
Free Cash Flow Yield	7.95%	N/A
P/S Ratio	N/A	3.69
P/B Ratio	N/A	5.54

Market Cap / Net Assets

DUOL

$5.23B

Winner

SPY

$735B

Expense Ratio

DUOL

N/A

SPY

0.09%

Max Drawdown

DUOL

83.35%

Winner

SPY

56.47%

Sharpe Ratio

DUOL

-2.30

Winner

SPY

1.67

5Y Beta

DUOL

1.44

Winner

SPY

1.00

Industry

DUOL

Software - Application

SPY

N/A

P/E Ratio

Winner

DUOL

12.61

SPY

28.81

Forward P/E

Winner

DUOL

15.22

SPY

22.07

PEG Ratio

DUOL

0.03

SPY

N/A

5Y Dividends CAGR

DUOL

N/A

SPY

5.43%

5Y EPS CAGR

DUOL

N/A

SPY

25.84%

Debt to Equity

Winner

DUOL

0.00%

SPY

34.16%

Free Cash Flow Yield

DUOL

7.95%

SPY

N/A

P/S Ratio

DUOL

N/A

SPY

3.69

P/B Ratio

DUOL

N/A

SPY

5.54

DUOL vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	DUOL	SPY
1 month	+1.89%	+4.59%
3 months	-5.42%	+7.81%
6 months	-36.42%	+14.24%
1 year	-79.68%	+26.47%
5 years(CAGR)	-5.33%	+13.84%
10 years(CAGR)	N/A	+15.57%
Max(CAGR)	-5.33%	+8.50%

DUOL

+1.89%

Winner

SPY

+4.59%

DUOL

-5.42%

Winner

SPY

+7.81%

DUOL

-36.42%

Winner

SPY

+14.24%

DUOL

-79.68%

Winner

SPY

+26.47%

5Y(CAGR)

DUOL

-5.33%

Winner

SPY

+13.84%

10Y(CAGR)

DUOL

N/A

SPY

+15.57%

Max(CAGR)

DUOL

-5.33%

Winner

SPY

+8.50%

DUOL vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	DUOL	SPY
2026	-39.47%	+8.80%
2025	-46.15%	+18.00%
2024	+51.26%	+25.59%
2023	+219.82%	+26.72%
2022	-32.30%	-18.64%
2021	-23.67%	+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%

DUOL vs SPY Drawdown Comparison

The maximum drawdown for DUOL was -83.35%, occurring on Apr 10, 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 DUOL drawdown is -80.24%. The current SPY drawdown is -0.92%.

Rank	DUOL	SPY
#1	-83.35% May 14, 2025 - Apr 10, 2026	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-68.92% Sep 23, 2021 - Nov 9, 2023	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-38.27% Feb 18, 2025 - May 2, 2025	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-36.16% May 7, 2024 - Sep 18, 2024	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-27.76% Dec 19, 2023 - May 6, 2024	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-17.81% Aug 5, 2021 - Sep 2, 2021	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-16.22% Dec 5, 2024 - Feb 4, 2025	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-8.46% Sep 10, 2021 - Sep 16, 2021	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-6.50% Nov 14, 2023 - Nov 24, 2023	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-6.11% Nov 8, 2024 - Nov 20, 2024	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-4.65% Nov 27, 2023 - Dec 12, 2023	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-4.43% Feb 10, 2025 - Feb 13, 2025	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-4.12% Oct 9, 2024 - Oct 29, 2024	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-3.33% Sep 25, 2024 - Oct 9, 2024	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-3.29% Jul 28, 2021 - Jul 30, 2021	-7.27% Sep 18, 2014 - Oct 31, 2014