GRP-U vs SPY

Comparison between Granite Real Estate Investment Trust - Units (GRP-U, Company) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed GRP-U, delivering a return of +13.9% compared to +0.3%

GRP-U vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	GRP-U(COMPANY)	SPY(ETF)
Market Cap / Net Assets	$2.77B	$735B
Expense Ratio	N/A	0.09%
Max Drawdown	53.41%	56.47%
Sharpe Ratio	1.40	2.02
5Y Beta	0.52	1.00
Industry	Other	N/A
P/E Ratio	11.01	28.62
Forward P/E	N/A	22.20
PEG Ratio	0.08	N/A
Dividend Yield	1.26%	N/A
5Y Dividends CAGR	14.63%	5.43%
5Y EPS CAGR	-3.08%	26.35%
Debt to Equity	0.00%	33.33%
Free Cash Flow Yield	0.00%	N/A
P/S Ratio	N/A	3.68
P/B Ratio	N/A	5.52

Market Cap / Net Assets

GRP-U

$2.77B

Winner

SPY

$735B

Expense Ratio

GRP-U

N/A

SPY

0.09%

Max Drawdown

Winner

GRP-U

53.41%

SPY

56.47%

Sharpe Ratio

GRP-U

1.40

Winner

SPY

2.02

5Y Beta

Winner

GRP-U

0.52

SPY

1.00

Industry

GRP-U

Other

SPY

N/A

P/E Ratio

Winner

GRP-U

11.01

SPY

28.62

Forward P/E

GRP-U

N/A

SPY

22.20

PEG Ratio

GRP-U

0.08

SPY

N/A

Dividend Yield

GRP-U

1.26%

SPY

N/A

5Y Dividends CAGR

Winner

GRP-U

14.63%

SPY

5.43%

5Y EPS CAGR

GRP-U

-3.08%

Winner

SPY

26.35%

Debt to Equity

Winner

GRP-U

0.00%

SPY

33.33%

Free Cash Flow Yield

GRP-U

0.00%

SPY

N/A

P/S Ratio

GRP-U

N/A

SPY

3.68

P/B Ratio

GRP-U

N/A

SPY

5.52

GRP-U vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	GRP-U	SPY
1 month	+0.00%	+4.93%
3 months	+0.00%	+9.70%
6 months	+9.75%	+11.04%
1 year	+19.50%	+28.41%
5 years(CAGR)	+0.26%	+13.90%
10 years(CAGR)	+10.52%	+15.45%
Max(CAGR)	+8.58%	+8.55%

GRP-U

+0.00%

Winner

SPY

+4.93%

GRP-U

+0.00%

Winner

SPY

+9.70%

GRP-U

+9.75%

Winner

SPY

+11.04%

GRP-U

+19.50%

Winner

SPY

+28.41%

5Y(CAGR)

GRP-U

+0.26%

Winner

SPY

+13.90%

10Y(CAGR)

GRP-U

+10.52%

Winner

SPY

+15.45%

Max(CAGR)

Winner

GRP-U

+8.58%

SPY

+8.55%

GRP-U vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	GRP-U	SPY
2026	+0.00%	+10.15%
2025	+22.07%	+18.00%
2024	-13.14%	+25.59%
2023	+17.71%	+26.72%
2022	-36.96%	-18.64%
2021	+42.93%	+30.52%
2020	+26.74%	+17.28%
2019	+32.08%	+31.09%
2018	+1.98%	-5.24%
2017	+22.35%	+20.78%
2016	+29.29%	+13.59%
2015	-17.20%	+1.31%
2014	+2.28%	+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%

GRP-U vs SPY Drawdown Comparison

The maximum drawdown for GRP-U was -49.56%, occurring on Mar 23, 2020. Recovery took 108 trading sessions.

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

The current GRP-U drawdown is -20.74%. The current SPY drawdown is -0.02%.

Rank	GRP-U	SPY
#1	-49.56% Feb 21, 2020 - Jul 27, 2020	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-47.71% Jan 3, 2022 - Apr 7, 2025	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-29.45% Jan 7, 2015 - Dec 6, 2016	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-11.32% Sep 12, 2018 - Jan 16, 2019	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-9.70% Jan 26, 2018 - May 11, 2018	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-9.28% Sep 25, 2014 - Oct 29, 2014	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-8.74% Oct 12, 2020 - Dec 10, 2020	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-8.43% Nov 7, 2014 - Jan 7, 2015	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-7.66% Apr 3, 2019 - Aug 27, 2019	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-7.51% Sep 19, 2017 - Jan 18, 2018	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-7.48% Oct 29, 2021 - Dec 8, 2021	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-6.87% Sep 17, 2021 - Oct 13, 2021	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-6.72% Dec 16, 2020 - Apr 8, 2021	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-6.58% Apr 27, 2021 - Jun 4, 2021	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-5.92% Feb 23, 2017 - Apr 6, 2017	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between GRP-U and SPY is 0.79 which considered as a strong positive correlation - the stocks tend to move together.

0.79

-101

Dividend Comparison (1999 - 2026)

GRP-U vs SPY dividend yield comparison.

Year	GRP-U	SPY
2026	0.00%	0.24%
2025	0.00%	1.07%
2024	3.90%	1.21%
2023	4.36%	1.40%
2022	4.28%	1.65%
2021	2.03%	1.20%
2020	2.39%	1.52%
2019	2.07%	1.75%
2018	4.06%	2.04%
2017	5.60%	1.80%
2016	7.22%	2.03%
2015	7.48%	2.06%
2014	2.01%	1.87%
2013	0.00%	1.81%
2012	0.00%	2.18%
2011	0.00%	2.05%
2010	0.00%	1.80%
2009	0.00%	1.95%
2008	0.00%	3.02%
2007	0.00%	1.85%
2006	0.00%	1.73%
2005	0.00%	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%