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IBCP vs SPY

Comparison between Independent Bank Corporation (Ionia MI) (IBCP, Company) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceIBCP has outperformed SPY, delivering a return of +13.9% compared to +13.4%

IBCP vs SPY - Performance Comparison

Key Characteristics

Financial metrics and valuation ratios

Market Cap / Net Assets
IBCP
$727M
Winner
SPY
$784B
Expense Ratio
IBCP
N/A
SPY
0.09%
Max Drawdown
IBCP
98.00%
Winner
SPY
56.47%
Sharpe Ratio
IBCP
0.52
Winner
SPY
1.50
5Y Beta
Winner
IBCP
0.75
SPY
1.00
Industry
IBCP
Banks - Regional
SPY
N/A
P/E Ratio
Winner
IBCP
10.43
SPY
28.29
Forward P/E
Winner
IBCP
12.05
SPY
21.76
PEG Ratio
IBCP
1.58
SPY
N/A
Dividend Yield
IBCP
3.05%
SPY
N/A
5Y Dividends CAGR
Winner
IBCP
5.61%
SPY
5.43%
5Y EPS CAGR
IBCP
0.15%
Winner
SPY
25.98%
Debt to Equity
Winner
IBCP
0.00%
SPY
30.79%
Free Cash Flow Yield
IBCP
3.55%
SPY
N/A
P/S Ratio
Winner
IBCP
3.23
SPY
3.79
P/B Ratio
Winner
IBCP
1.42
SPY
5.67

IBCP vs SPY - Historical Returns

Returns include dividend reinvestment.

1M
Winner
IBCP
+5.75%
SPY
+0.48%
3M
IBCP
+8.03%
Winner
SPY
+11.67%
6M
IBCP
+3.43%
Winner
SPY
+9.42%
1Y
IBCP
+16.81%
Winner
SPY
+24.27%
5Y(CAGR)
Winner
IBCP
+13.85%
SPY
+13.36%
10Y(CAGR)
IBCP
+13.05%
Winner
SPY
+15.42%
Max(CAGR)
IBCP
+7.49%
Winner
SPY
+8.49%

IBCP vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

YearIBCPSPY
2026+12.01%+8.88%
2025-2.22%+18.00%
2024+39.94%+25.59%
2023+12.93%+26.72%
2022+2.86%-18.64%
2021+32.60%+30.52%
2020-14.28%+17.28%
2019+9.60%+31.09%
2018-5.62%-5.24%
2017+3.33%+20.78%
2016+51.39%+13.59%
2015+22.89%+1.31%
2014+8.49%+14.56%
2013+242.86%+29.00%
2012+157.68%+14.17%
2011-2.21%+0.85%
2010+78.08%+13.14%
2009-67.38%+22.67%
2008-75.62%-36.25%
2007-60.53%+5.32%
2006-7.84%+13.85%
2005+0.96%+5.32%
2004+6.99%+10.75%
2003+57.58%+24.18%
2002+11.75%-22.42%
2001+54.45%-10.13%
2000N/A-8.84%
1999N/A+8.61%

IBCP vs SPY Drawdown Comparison

The maximum drawdown for IBCP was -97.75%, occurring on Dec 1, 2009. Recovery took 3117 trading sessions.

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

The current IBCP drawdown is -4.46%. The current SPY drawdown is -2.35%.

RankIBCPSPY
#1-97.75%
Dec 1, 2005 - Apr 23, 2018		-55.20%
Oct 9, 2007 - Aug 16, 2012
#2-61.76%
Jun 8, 2018 - Mar 12, 2021		-47.50%
Mar 24, 2000 - Oct 26, 2006
#3-36.44%
Dec 1, 2022 - Dec 13, 2023		-33.70%
Feb 19, 2020 - Aug 10, 2020
#4-29.16%
Jan 14, 2022 - Dec 1, 2022		-24.50%
Jan 3, 2022 - Dec 13, 2023
#5-27.46%
Nov 11, 2024 - Apr 4, 2025		-19.34%
Sep 20, 2018 - Apr 12, 2019
#6-20.87%
Dec 11, 2003 - Nov 29, 2004		-18.76%
Feb 19, 2025 - Jun 26, 2025
#7-18.51%
Apr 12, 2021 - Nov 5, 2021		-13.02%
Jul 20, 2015 - Apr 18, 2016
#8-18.26%
Aug 22, 2001 - Dec 11, 2001		-10.10%
Jan 26, 2018 - Aug 6, 2018
#9-17.08%
Jun 14, 2002 - Aug 26, 2002		-9.44%
Sep 2, 2020 - Nov 11, 2020
#10-13.78%
Mar 7, 2005 - Jul 28, 2005		-9.30%
Jan 19, 2000 - Mar 17, 2000
#11-13.47%
Jan 30, 2024 - Jun 28, 2024		-9.05%
Jul 19, 2007 - Oct 5, 2007
#12-12.84%
Oct 1, 2002 - Apr 22, 2003		-8.88%
Jan 27, 2026 - Apr 14, 2026
#13-12.05%
May 31, 2001 - Jul 16, 2001		-8.41%
Jul 16, 2024 - Sep 19, 2024
#14-11.89%
Jun 4, 2003 - Jul 2, 2003		-7.35%
Sep 14, 2012 - Jan 2, 2013
#15-11.09%
Sep 19, 2024 - Nov 6, 2024		-7.27%
Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between IBCP and SPY is 0.82 which considered as a strong positive correlation - the stocks tend to move together.

0.82
-101

Dividend Comparison (1999 - 2026)

IBCP vs SPY dividend yield comparison.

YearIBCPSPY
20261.58%0.24%
20253.20%1.07%
20242.76%1.21%
20233.54%1.40%
20223.68%1.65%
20213.52%1.20%
20204.33%1.52%
20193.18%1.75%
20182.85%2.04%
20171.88%1.80%
20161.57%2.03%
20151.71%2.06%
20141.38%1.87%
20130.00%1.81%
20120.00%2.18%
20110.00%2.05%
20100.00%1.80%
20094.17%1.95%
200815.74%3.02%
20078.74%1.85%
20060.00%1.73%
20052.62%1.73%
20041.64%1.82%
20032.52%1.47%
20022.38%1.70%
20012.18%1.25%
20000.00%1.15%
19990.00%0.24%

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