FWRD vs SPY
Comparison between Forward Air Corp (FWRD, Company) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed FWRD, delivering a return of +14.1% compared to -35.6%
FWRD vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
FWRD vs SPY - Historical Returns
Returns include dividend reinvestment.
FWRD vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | FWRD | SPY |
|---|---|---|
| 2026 | -59.41% | +11.49% |
| 2025 | -21.53% | +18.00% |
| 2024 | -48.17% | +25.59% |
| 2023 | -39.21% | +26.72% |
| 2022 | -12.25% | -18.64% |
| 2021 | +60.31% | +30.52% |
| 2020 | +11.67% | +17.28% |
| 2019 | +29.03% | +31.09% |
| 2018 | -4.04% | -5.24% |
| 2017 | +20.02% | +20.78% |
| 2016 | +12.01% | +13.59% |
| 2015 | -12.64% | +1.31% |
| 2014 | +17.83% | +14.56% |
| 2013 | +23.47% | +29.00% |
| 2012 | +6.72% | +14.17% |
| 2011 | +12.79% | +0.85% |
| 2010 | +12.36% | +13.14% |
| 2009 | +4.27% | +22.67% |
| 2008 | -18.78% | -36.25% |
| 2007 | +3.58% | +5.32% |
| 2006 | -19.43% | +13.85% |
| 2005 | +23.03% | +5.32% |
| 2004 | +58.12% | +10.75% |
| 2003 | +37.16% | +24.18% |
| 2002 | -42.51% | -22.42% |
| 2001 | -7.83% | -10.13% |
| 2000 | +31.28% | -8.84% |
| 1999 | +57.75% | +8.61% |
FWRD vs SPY Drawdown Comparison
The maximum drawdown for FWRD was -93.19%, occurring on May 19, 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 FWRD drawdown is -91.64%.
| Rank | FWRD | SPY |
|---|---|---|
| #1 | -93.19% Jan 4, 2022 - May 19, 2026 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -66.93% Jul 6, 2006 - Jul 9, 2013 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -65.25% Aug 1, 2000 - Jul 22, 2005 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -42.77% Jan 16, 2020 - Nov 9, 2020 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -36.22% Mar 20, 2015 - Sep 27, 2017 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -36.00% Feb 8, 2000 - Apr 19, 2000 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -27.94% Oct 1, 2018 - Oct 28, 2019 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -17.96% Jan 19, 2018 - Jun 20, 2018 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -17.89% May 7, 2021 - Oct 29, 2021 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -17.39% Jan 6, 2000 - Feb 8, 2000 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -14.97% May 3, 2000 - Jun 27, 2000 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -14.24% Nov 22, 2005 - Jun 30, 2006 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -12.14% Jan 20, 2021 - Feb 9, 2021 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -11.72% Nov 18, 1999 - Dec 7, 1999 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -11.49% Dec 30, 2014 - Feb 10, 2015 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between FWRD and SPY is 0.45 which considered as a weak positive correlation - the stocks show a slight tendency to move together.
Dividend Comparison (1999 - 2026)
FWRD vs SPY dividend yield comparison.
| Year | FWRD | SPY |
|---|---|---|
| 2026 | 0.00% | 0.24% |
| 2025 | 0.00% | 1.07% |
| 2024 | 0.00% | 1.21% |
| 2023 | 1.53% | 1.40% |
| 2022 | 0.92% | 1.65% |
| 2021 | 0.87% | 1.20% |
| 2020 | 0.98% | 1.52% |
| 2019 | 1.03% | 1.75% |
| 2018 | 1.15% | 2.04% |
| 2017 | 1.04% | 1.80% |
| 2016 | 1.08% | 2.03% |
| 2015 | 1.12% | 2.06% |
| 2014 | 0.95% | 1.87% |
| 2013 | 0.91% | 1.81% |
| 2012 | 0.97% | 2.18% |
| 2011 | 0.87% | 2.05% |
| 2010 | 0.99% | 1.80% |
| 2009 | 1.12% | 1.95% |
| 2008 | 1.15% | 3.02% |
| 2007 | 0.90% | 1.85% |
| 2006 | 0.97% | 1.73% |
| 2005 | 0.60% | 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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