GRN vs SPY
Comparison between iPath Series B Carbon ETN (GRN, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed GRN, delivering a return of +13.4% compared to +7.9%
GRN vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
GRN
$12M
Winner
SPY
$784B
Expense Ratio
GRN
0.75%
Winner
SPY
0.09%
Max Drawdown
Winner
GRN
47.96%
SPY
56.47%
Sharpe Ratio
GRN
0.22
Winner
SPY
1.67
5Y Beta
Winner
GRN
0.35
SPY
1.00
P/E Ratio
GRN
N/A
SPY
29.17
Forward P/E
GRN
N/A
SPY
21.89
5Y Dividends CAGR
GRN
N/A
SPY
5.43%
5Y EPS CAGR
GRN
N/A
SPY
26.36%
Debt to Equity
GRN
N/A
SPY
32.38%
P/S Ratio
GRN
N/A
SPY
3.79
P/B Ratio
GRN
N/A
SPY
5.68
GRN vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
Winner
GRN
+2.63%
SPY
+0.22%
3M
GRN
+8.08%
Winner
SPY
+9.29%
6M
GRN
-7.13%
Winner
SPY
+8.75%
1Y
GRN
+4.44%
Winner
SPY
+24.68%
5Y(CAGR)
GRN
+7.89%
Winner
SPY
+13.40%
10Y(CAGR)
GRN
N/A
SPY
+15.16%
Max(CAGR)
Winner
GRN
+16.77%
SPY
+8.48%
GRN vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | GRN | SPY |
|---|---|---|
| 2026 | -11.78% | +8.50% |
| 2025 | +17.79% | +18.00% |
| 2024 | -2.66% | +25.59% |
| 2023 | -3.61% | +26.72% |
| 2022 | -4.36% | -18.64% |
| 2021 | +137.17% | +30.52% |
| 2020 | +31.54% | +17.28% |
| 2019 | -8.41% | +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% |
GRN vs SPY Drawdown Comparison
The maximum drawdown for GRN was -47.96%, occurring on Feb 22, 2024. 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 GRN drawdown is -21.74%. The current SPY drawdown is -2.68%.
| Rank | GRN | SPY |
|---|---|---|
| #1 | -47.96% Feb 27, 2023 - Feb 22, 2024 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -43.58% Sep 16, 2019 - Jul 2, 2020 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -40.60% Feb 4, 2022 - Aug 17, 2022 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -33.78% Aug 19, 2022 - Feb 27, 2023 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -24.66% Sep 14, 2020 - Dec 10, 2020 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -18.08% Dec 8, 2021 - Feb 2, 2022 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -15.56% Jul 15, 2020 - Sep 14, 2020 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -15.03% Sep 27, 2021 - Nov 15, 2021 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -14.39% Jul 1, 2021 - Aug 27, 2021 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -13.34% May 14, 2021 - Jun 30, 2021 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -9.03% Jan 8, 2021 - Feb 2, 2021 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -8.00% Feb 12, 2021 - Mar 9, 2021 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -7.11% Mar 17, 2021 - Apr 6, 2021 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -6.06% Sep 8, 2021 - Sep 24, 2021 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -4.44% Dec 15, 2020 - Dec 28, 2020 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between GRN and SPY is 0.56 which considered as a moderate positive correlation - the stocks show some tendency to move together.
0.56
-101
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