GLAD vs SPY

Comparison between Gladstone Capital Corp (GLAD, Company) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed GLAD, delivering a return of +13.0% compared to +5.6%

GLAD vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	GLAD(COMPANY)	SPY(ETF)
Market Cap / Net Assets	$450M	$781B
Expense Ratio	N/A	0.09%
Max Drawdown	83.50%	56.47%
Sharpe Ratio	-1.16	1.25
5Y Beta	0.68	1.00
Industry	Asset Management	N/A
P/E Ratio	10.61	28.78
Forward P/E	10.76	21.23
PEG Ratio	2.31	N/A
Dividend Yield	9.49%	N/A
5Y Dividends CAGR	4.51%	6.00%
5Y EPS CAGR	N/A	25.62%
Debt to Equity	0.00%	31.92%
Free Cash Flow Yield	-20.76%	N/A
P/S Ratio	4.69	3.76
P/B Ratio	0.93	5.64

Market Cap / Net Assets

GLAD

$450M

Winner

SPY

$781B

Expense Ratio

GLAD

N/A

SPY

0.09%

Max Drawdown

GLAD

83.50%

Winner

SPY

56.47%

Sharpe Ratio

GLAD

-1.16

Winner

SPY

1.25

5Y Beta

Winner

GLAD

0.68

SPY

1.00

Industry

GLAD

Asset Management

SPY

N/A

P/E Ratio

Winner

GLAD

10.61

SPY

28.78

Forward P/E

Winner

GLAD

10.76

SPY

21.23

PEG Ratio

GLAD

2.31

SPY

N/A

Dividend Yield

GLAD

9.49%

SPY

N/A

5Y Dividends CAGR

GLAD

4.51%

Winner

SPY

6.00%

5Y EPS CAGR

GLAD

N/A

SPY

25.62%

Debt to Equity

Winner

GLAD

0.00%

SPY

31.92%

Free Cash Flow Yield

GLAD

-20.76%

SPY

N/A

P/S Ratio

GLAD

4.69

Winner

SPY

3.76

P/B Ratio

Winner

GLAD

0.93

SPY

5.64

GLAD vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	GLAD	SPY
1 month	+6.64%	+0.52%
3 months	+6.75%	+6.55%
6 months	-2.73%	+9.76%
1 year	-24.88%	+20.32%
5 years(CAGR)	+5.64%	+13.01%
10 years(CAGR)	+11.75%	+15.06%
Max(CAGR)	+6.79%	+8.50%

Winner

GLAD

+6.64%

SPY

+0.52%

Winner

GLAD

+6.75%

SPY

+6.55%

GLAD

-2.73%

Winner

SPY

+9.76%

GLAD

-24.88%

Winner

SPY

+20.32%

5Y(CAGR)

GLAD

+5.64%

Winner

SPY

+13.01%

10Y(CAGR)

GLAD

+11.75%

Winner

SPY

+15.06%

Max(CAGR)

GLAD

+6.79%

Winner

SPY

+8.50%

GLAD vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	GLAD	SPY
2026	-0.99%	+10.11%
2025	-22.85%	+18.00%
2024	+45.95%	+25.59%
2023	+21.14%	+26.72%
2022	-9.82%	-18.64%
2021	+42.95%	+30.52%
2020	-1.79%	+17.28%
2019	+47.02%	+31.09%
2018	-13.58%	-5.24%
2017	+4.58%	+20.78%
2016	+42.56%	+13.59%
2015	-3.62%	+1.31%
2014	-4.52%	+14.56%
2013	+25.70%	+29.00%
2012	+14.08%	+14.17%
2011	-27.91%	+0.85%
2010	+56.03%	+13.14%
2009	+3.25%	+22.67%
2008	-51.17%	-36.25%
2007	-23.97%	+5.32%
2006	+17.90%	+13.85%
2005	-4.72%	+5.32%
2004	+13.45%	+10.75%
2003	+42.05%	+24.18%
2002	-2.47%	-22.42%
2001	N/A	-10.13%
2000	N/A	-8.84%
1999	N/A	+8.61%

GLAD vs SPY Drawdown Comparison

The maximum drawdown for GLAD was -74.88%, occurring on Mar 3, 2009. Recovery took 2515 trading sessions.

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

The current GLAD drawdown is -26.93%. The current SPY drawdown is -1.24%.

Rank	GLAD	SPY
#1	-74.88% Dec 21, 2006 - Dec 19, 2016	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-58.49% Feb 13, 2020 - Feb 3, 2021	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-39.55% Jan 28, 2025 - Mar 27, 2026	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-31.64% Apr 20, 2022 - Jan 4, 2024	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-28.42% Sep 4, 2018 - Feb 22, 2019	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-20.36% Jul 28, 2005 - Oct 26, 2006	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-16.89% Aug 12, 2002 - Apr 7, 2003	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-16.76% Jan 26, 2004 - Aug 13, 2004	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-15.41% Nov 15, 2004 - Jul 12, 2005	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-15.16% Nov 17, 2021 - Mar 22, 2022	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-13.78% Dec 8, 2017 - Jul 30, 2018	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-11.93% Jan 12, 2024 - May 1, 2024	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-11.46% Feb 7, 2017 - Apr 26, 2017	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-10.62% Jul 12, 2024 - Sep 27, 2024	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-8.86% Jun 30, 2003 - Jul 25, 2003	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between GLAD and SPY is 0.95 which considered as a very strong positive correlation - the stocks move almost identically together.

0.95

-101

Dividend Comparison (1999 - 2026)

GLAD vs SPY dividend yield comparison.

Year	GLAD	SPY
2026	4.61%	0.49%
2025	9.85%	1.07%
2024	8.37%	1.21%
2023	9.16%	1.40%
2022	8.42%	1.65%
2021	6.73%	1.20%
2020	8.97%	1.52%
2019	8.46%	1.75%
2018	11.51%	2.04%
2017	9.12%	1.80%
2016	8.95%	2.03%
2015	11.49%	2.06%
2014	10.16%	1.87%
2013	8.78%	1.81%
2012	10.29%	2.18%
2011	11.01%	2.05%
2010	7.29%	1.80%
2009	13.65%	1.95%
2008	20.77%	3.02%
2007	9.88%	1.85%
2006	6.92%	1.73%
2005	7.30%	1.73%
2004	5.89%	1.82%
2003	5.37%	1.47%
2002	2.67%	1.70%
2001	0.00%	1.25%
2000	0.00%	1.15%
1999	0.00%	0.24%

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GLAD vs SPY

GLAD vs SPY - Performance Comparison

Key Characteristics

GLAD vs SPY - Historical Returns

GLAD vs SPY - Annual Returns (1999 - 2026)

GLAD vs SPY Drawdown Comparison

Correlation

Dividend Comparison (1999 - 2026)

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