LUV vs SPY
Comparison between Southwest Airlines Company (LUV, Company) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed LUV, delivering a return of +13.3% compared to -6.3%
LUV vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
LUV vs SPY - Historical Returns
Returns include dividend reinvestment.
LUV vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | LUV | SPY |
|---|---|---|
| 2026 | +0.49% | +8.27% |
| 2025 | +26.56% | +18.00% |
| 2024 | +20.78% | +25.59% |
| 2023 | -8.93% | +26.72% |
| 2022 | -23.48% | -18.64% |
| 2021 | -4.88% | +30.52% |
| 2020 | -14.67% | +17.28% |
| 2019 | +16.07% | +31.09% |
| 2018 | -29.11% | -5.24% |
| 2017 | +32.03% | +20.78% |
| 2016 | +19.85% | +13.59% |
| 2015 | +1.56% | +1.31% |
| 2014 | +125.82% | +14.56% |
| 2013 | +81.52% | +29.00% |
| 2012 | +22.22% | +14.17% |
| 2011 | -35.23% | +0.85% |
| 2010 | +16.27% | +13.14% |
| 2009 | +27.72% | +22.67% |
| 2008 | -26.84% | -36.25% |
| 2007 | -21.29% | +5.32% |
| 2006 | -6.65% | +13.85% |
| 2005 | +2.37% | +5.32% |
| 2004 | +2.26% | +10.75% |
| 2003 | +13.79% | +24.18% |
| 2002 | -23.75% | -22.42% |
| 2001 | -17.07% | -10.13% |
| 2000 | +111.50% | -8.84% |
| 1999 | -1.49% | +8.61% |
LUV vs SPY Drawdown Comparison
The maximum drawdown for LUV was -78.25%, occurring on Mar 5, 2009. Recovery took 3307 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current LUV drawdown is -30.77%.
| Rank | LUV | SPY |
|---|---|---|
| #1 | -78.25% Jan 5, 2001 - Mar 4, 2014 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -64.75% Jan 2, 2018 - Oct 31, 2023 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -30.90% Jan 29, 2015 - Nov 3, 2015 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -29.86% Dec 7, 2015 - Dec 7, 2016 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -20.88% Jul 7, 2017 - Dec 15, 2017 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -18.02% Sep 18, 2014 - Nov 3, 2014 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -16.42% May 8, 2000 - Jul 24, 2000 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -14.25% Apr 11, 2000 - May 8, 2000 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -13.21% Nov 5, 1999 - Feb 23, 2000 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -11.73% Mar 1, 2017 - May 22, 2017 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -11.25% Aug 11, 2000 - Oct 3, 2000 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -10.49% Feb 29, 2000 - Mar 10, 2000 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -8.88% Jan 2, 2015 - Jan 22, 2015 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -8.83% Nov 29, 2000 - Dec 27, 2000 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -8.55% Oct 5, 2000 - Oct 19, 2000 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between LUV and SPY is 0.61 which considered as a moderate positive correlation - the stocks show some tendency to move together.
Dividend Comparison (1999 - 2026)
LUV vs SPY dividend yield comparison.
| Year | LUV | SPY |
|---|---|---|
| 2026 | 0.44% | 0.24% |
| 2025 | 1.74% | 1.07% |
| 2024 | 2.14% | 1.21% |
| 2023 | 3.12% | 1.40% |
| 2022 | 0.00% | 1.65% |
| 2021 | 0.00% | 1.20% |
| 2020 | 0.39% | 1.52% |
| 2019 | 1.30% | 1.75% |
| 2018 | 1.30% | 2.04% |
| 2017 | 0.73% | 1.80% |
| 2016 | 0.75% | 2.03% |
| 2015 | 0.66% | 2.06% |
| 2014 | 0.52% | 1.87% |
| 2013 | 0.69% | 1.81% |
| 2012 | 0.34% | 2.18% |
| 2011 | 0.21% | 2.05% |
| 2010 | 0.14% | 1.80% |
| 2009 | 0.16% | 1.95% |
| 2008 | 0.21% | 3.02% |
| 2007 | 0.15% | 1.85% |
| 2006 | 0.12% | 1.73% |
| 2005 | 0.11% | 1.73% |
| 2004 | 0.11% | 1.82% |
| 2003 | 0.11% | 1.47% |
| 2002 | 0.13% | 1.70% |
| 2001 | 0.10% | 1.25% |
| 2000 | 0.07% | 1.15% |
| 1999 | 0.04% | 0.24% |
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