KEN vs SPY

Comparison between Kenon Holdings Ltd (KEN, Company) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceKEN has outperformed SPY, delivering a return of +37.3% compared to +13.9%

KEN vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	KEN(COMPANY)	SPY(ETF)
Market Cap / Net Assets	$4.47B	$735B
Expense Ratio	N/A	0.09%
Max Drawdown	75.27%	56.47%
Sharpe Ratio	2.70	1.67
5Y Beta	0.77	1.00
Industry	Utilities - Independent Power Producers	N/A
P/E Ratio	69.37	28.81
Forward P/E	N/A	22.07
Dividend Yield	4.55%	N/A
5Y Dividends CAGR	31.14%	5.43%
5Y EPS CAGR	-33.40%	25.84%
Debt to Equity	112.01%	34.16%
Free Cash Flow Yield	3.75%	N/A
P/S Ratio	N/A	3.69
P/B Ratio	N/A	5.54

Market Cap / Net Assets

KEN

$4.47B

Winner

SPY

$735B

Expense Ratio

KEN

N/A

SPY

0.09%

Max Drawdown

KEN

75.27%

Winner

SPY

56.47%

Sharpe Ratio

Winner

KEN

2.70

SPY

1.67

5Y Beta

Winner

KEN

0.77

SPY

1.00

Industry

KEN

Utilities - Independent Power Producers

SPY

N/A

P/E Ratio

KEN

69.37

Winner

SPY

28.81

Forward P/E

KEN

N/A

SPY

22.07

Dividend Yield

KEN

4.55%

SPY

N/A

5Y Dividends CAGR

Winner

KEN

31.14%

SPY

5.43%

5Y EPS CAGR

KEN

-33.40%

Winner

SPY

25.84%

Debt to Equity

KEN

112.01%

Winner

SPY

34.16%

Free Cash Flow Yield

KEN

3.75%

SPY

N/A

P/S Ratio

KEN

N/A

SPY

3.69

P/B Ratio

KEN

N/A

SPY

5.54

KEN vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	KEN	SPY
1 month	+6.06%	+5.49%
3 months	+11.73%	+8.03%
6 months	+62.59%	+13.34%
1 year	+167.55%	+28.89%
5 years(CAGR)	+37.26%	+13.90%
10 years(CAGR)	+45.17%	+15.59%
Max(CAGR)	+33.23%	+8.51%

Winner

KEN

+6.06%

SPY

+5.49%

Winner

KEN

+11.73%

SPY

+8.03%

Winner

KEN

+62.59%

SPY

+13.34%

Winner

KEN

+167.55%

SPY

+28.89%

5Y(CAGR)

Winner

KEN

+37.26%

SPY

+13.90%

10Y(CAGR)

Winner

KEN

+45.17%

SPY

+15.59%

Max(CAGR)

Winner

KEN

+33.23%

SPY

+8.51%

KEN vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	KEN	SPY
2026	+33.78%	+9.02%
2025	+140.50%	+18.00%
2024	+56.42%	+25.59%
2023	-13.58%	+26.72%
2022	-23.76%	-18.64%
2021	+98.21%	+30.52%
2020	+52.50%	+17.28%
2019	+38.20%	+31.09%
2018	+25.45%	-5.24%
2017	+92.95%	+20.78%
2016	+19.21%	+13.59%
2015	-32.77%	+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%

KEN vs SPY Drawdown Comparison

The maximum drawdown for KEN was -69.60%, occurring on Oct 27, 2023. Recovery took 821 trading sessions.

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

The current KEN drawdown is -9.74%. The current SPY drawdown is -0.73%.

Rank	KEN	SPY
#1	-69.60% Mar 23, 2022 - Jul 2, 2025	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-57.25% May 19, 2015 - Oct 11, 2017	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-52.05% Jan 21, 2020 - Aug 28, 2020	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-26.19% Mar 6, 2018 - Jan 8, 2019	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-16.75% May 24, 2021 - Aug 12, 2021	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-15.96% Jan 14, 2015 - Mar 23, 2015	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-15.63% Jul 23, 2025 - Oct 20, 2025	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-14.12% Sep 27, 2021 - Nov 17, 2021	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-13.98% May 24, 2019 - Jun 21, 2019	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-12.53% Sep 18, 2020 - Sep 30, 2020	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-12.34% May 5, 2026 - May 19, 2026	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-12.26% Jan 26, 2021 - Mar 15, 2021	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-10.31% Aug 28, 2020 - Sep 18, 2020	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-9.05% Nov 19, 2019 - Dec 18, 2019	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-9.04% Aug 13, 2019 - Oct 15, 2019	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between KEN and SPY is 0.88 which considered as a strong positive correlation - the stocks tend to move together.

0.88

-101

Dividend Comparison (1999 - 2026)

KEN vs SPY dividend yield comparison.

Year	KEN	SPY
2026	4.46%	0.24%
2025	7.24%	1.07%
2024	11.18%	1.21%
2023	11.46%	1.40%
2022	25.00%	1.65%
2021	7.35%	1.20%
2020	7.41%	1.52%
2019	5.75%	1.75%
2018	96.34%	2.04%
2017	0.00%	1.80%
2016	0.00%	2.03%
2015	45.52%	2.06%
2014	0.00%	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%