FORTY vs SPY
Comparison between Formula Systems (1985) Ltd (FORTY, Company) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed FORTY, delivering a return of +13.3% compared to +10.8%
FORTY vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Market Cap / Net Assets
FORTY
$1.94B
Winner
SPY
$735B
Expense Ratio
FORTY
N/A
SPY
0.09%
Max Drawdown
FORTY
95.97%
Winner
SPY
56.47%
Sharpe Ratio
FORTY
0.63
Winner
SPY
1.62
5Y Beta
Winner
FORTY
0.35
SPY
1.00
Industry
FORTY
Information Technology Services
SPY
N/A
P/E Ratio
Winner
FORTY
24.40
SPY
28.99
Forward P/E
Winner
FORTY
9.23
SPY
22.37
PEG Ratio
FORTY
1.00
SPY
N/A
Dividend Yield
FORTY
1.79%
SPY
N/A
5Y Dividends CAGR
Winner
FORTY
70.76%
SPY
5.43%
5Y EPS CAGR
FORTY
-10.90%
Winner
SPY
26.05%
Debt to Equity
Winner
FORTY
12.91%
SPY
32.40%
Free Cash Flow Yield
FORTY
16.69%
SPY
N/A
P/S Ratio
Winner
FORTY
0.78
SPY
3.74
P/B Ratio
Winner
FORTY
1.51
SPY
5.61
FORTY vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
FORTY
-3.76%
Winner
SPY
+1.90%
3M
FORTY
+6.70%
Winner
SPY
+8.55%
6M
FORTY
-18.77%
Winner
SPY
+8.18%
1Y
FORTY
+25.56%
Winner
SPY
+25.79%
5Y(CAGR)
FORTY
+10.84%
Winner
SPY
+13.32%
10Y(CAGR)
Winner
FORTY
+17.26%
SPY
+15.19%
Max(CAGR)
Winner
FORTY
+10.09%
SPY
+8.47%
FORTY vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | FORTY | SPY |
|---|---|---|
| 2026 | -18.10% | +8.26% |
| 2025 | +105.36% | +18.00% |
| 2024 | +39.05% | +25.59% |
| 2023 | -6.65% | +26.72% |
| 2022 | -40.77% | -18.64% |
| 2021 | +49.74% | +30.52% |
| 2020 | +25.85% | +17.28% |
| 2019 | +93.92% | +31.09% |
| 2018 | -15.35% | -5.24% |
| 2017 | +1.49% | +20.78% |
| 2016 | +54.79% | +13.59% |
| 2015 | +23.35% | +1.31% |
| 2014 | -12.96% | +14.56% |
| 2013 | +50.90% | +29.00% |
| 2012 | -0.90% | +14.17% |
| 2011 | -22.73% | +0.85% |
| 2010 | +68.67% | +13.14% |
| 2009 | +91.88% | +22.67% |
| 2008 | -46.94% | -36.25% |
| 2007 | -2.88% | +5.32% |
| 2006 | +19.68% | +13.85% |
| 2005 | -31.23% | +5.32% |
| 2004 | -0.06% | +10.75% |
| 2003 | +100.59% | +24.18% |
| 2002 | -51.77% | -22.42% |
| 2001 | -40.58% | -10.13% |
| 2000 | -32.43% | -8.84% |
| 1999 | +58.26% | +8.61% |
FORTY vs SPY Drawdown Comparison
The maximum drawdown for FORTY was -92.58%, occurring on Mar 9, 2009. Recovery took 4147 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current FORTY drawdown is -28.00%. The current SPY drawdown is -2.90%.
| Rank | FORTY | SPY |
|---|---|---|
| #1 | -92.58% Mar 1, 2000 - Aug 24, 2016 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -54.37% Nov 15, 2021 - Jun 30, 2025 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -49.16% Jan 13, 2020 - May 20, 2020 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -41.95% Dec 24, 2025 - Mar 31, 2026 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -27.54% Jan 22, 2018 - Apr 4, 2019 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -23.56% Aug 18, 2020 - Aug 30, 2021 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -20.24% Jul 7, 2025 - Sep 5, 2025 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -19.64% May 16, 2017 - Jan 8, 2018 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -18.13% Jan 20, 2000 - Feb 7, 2000 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -17.61% Dec 14, 1999 - Jan 14, 2000 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -13.99% Jun 18, 2020 - Aug 4, 2020 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -13.85% Dec 12, 2019 - Jan 13, 2020 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -13.33% Jan 6, 2017 - Feb 23, 2017 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -12.66% Apr 10, 2019 - Jul 10, 2019 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -11.98% Sep 12, 2025 - Oct 9, 2025 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between FORTY and SPY is 0.96 which considered as a very strong positive correlation - the stocks move almost identically together.
0.96
-101
Dividend Comparison (1999 - 2026)
FORTY vs SPY dividend yield comparison.
| Year | FORTY | SPY |
|---|---|---|
| 2026 | 10.43% | 0.24% |
| 2025 | 1.43% | 1.07% |
| 2024 | 1.42% | 1.21% |
| 2023 | 0.95% | 1.40% |
| 2022 | 2.00% | 1.65% |
| 2021 | 1.02% | 1.20% |
| 2020 | 0.61% | 1.52% |
| 2019 | 1.22% | 1.75% |
| 2018 | 1.61% | 2.04% |
| 2017 | 0.58% | 1.80% |
| 2016 | 2.04% | 2.03% |
| 2015 | 2.34% | 2.06% |
| 2014 | 2.50% | 1.87% |
| 2013 | 1.03% | 1.81% |
| 2012 | 0.00% | 2.18% |
| 2011 | 3.71% | 2.05% |
| 2010 | 6.25% | 1.80% |
| 2009 | 16.19% | 1.95% |
| 2008 | 9.10% | 3.02% |
| 2007 | 0.00% | 1.85% |
| 2006 | 9.18% | 1.73% |
| 2005 | 28.66% | 1.73% |
| 2004 | 0.00% | 1.82% |
| 2003 | 0.00% | 1.47% |
| 2002 | 0.00% | 1.70% |
| 2001 | 3.64% | 1.25% |
| 2000 | 0.00% | 1.15% |
| 1999 | 0.00% | 0.24% |
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