MARA vs SPY

Comparison between Marathon Digital Holdings Inc (MARA, Company) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed MARA, delivering a return of +13.8% compared to -9.7%

MARA vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	MARA(COMPANY)	SPY(ETF)
Market Cap / Net Assets	$5.01B	$735B
Expense Ratio	N/A	0.09%
Max Drawdown	99.74%	56.47%
Sharpe Ratio	0.07	1.67
5Y Beta	2.56	1.00
Industry	Capital Markets	N/A
P/E Ratio	-2.50	28.81
Forward P/E	40.98	22.07
PEG Ratio	-0.01	N/A
5Y Dividends CAGR	N/A	5.43%
5Y EPS CAGR	110.81%	25.84%
Debt to Equity	108.25%	34.16%
Free Cash Flow Yield	-25.61%	N/A
P/S Ratio	N/A	3.69
P/B Ratio	N/A	5.54

Market Cap / Net Assets

MARA

$5.01B

Winner

SPY

$735B

Expense Ratio

MARA

N/A

SPY

0.09%

Max Drawdown

MARA

99.74%

Winner

SPY

56.47%

Sharpe Ratio

MARA

0.07

Winner

SPY

1.67

5Y Beta

MARA

2.56

Winner

SPY

1.00

Industry

MARA

Capital Markets

SPY

N/A

P/E Ratio

Winner

MARA

-2.50

SPY

28.81

Forward P/E

MARA

40.98

Winner

SPY

22.07

PEG Ratio

MARA

-0.01

SPY

N/A

5Y Dividends CAGR

MARA

N/A

SPY

5.43%

5Y EPS CAGR

Winner

MARA

110.81%

SPY

25.84%

Debt to Equity

MARA

108.25%

Winner

SPY

34.16%

Free Cash Flow Yield

MARA

-25.61%

SPY

N/A

P/S Ratio

MARA

N/A

SPY

3.69

P/B Ratio

MARA

N/A

SPY

5.54

MARA vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	MARA	SPY
1 month	+13.07%	+4.59%
3 months	+64.99%	+7.81%
6 months	+28.42%	+14.24%
1 year	-18.78%	+26.47%
5 years(CAGR)	-9.69%	+13.84%
10 years(CAGR)	-9.58%	+15.57%
Max(CAGR)	-14.55%	+8.50%

Winner

MARA

+13.07%

SPY

+4.59%

Winner

MARA

+64.99%

SPY

+7.81%

Winner

MARA

+28.42%

SPY

+14.24%

MARA

-18.78%

Winner

SPY

+26.47%

5Y(CAGR)

MARA

-9.69%

Winner

SPY

+13.84%

10Y(CAGR)

MARA

-9.58%

Winner

SPY

+15.57%

Max(CAGR)

MARA

-14.55%

Winner

SPY

+8.50%

MARA vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	MARA	SPY
2026	+32.69%	+8.80%
2025	-47.82%	+18.00%
2024	-26.86%	+25.59%
2023	+590.88%	+26.72%
2022	-89.60%	-18.64%
2021	+198.46%	+30.52%
2020	+894.29%	+17.28%
2019	-42.21%	+31.09%
2018	-91.62%	-5.24%
2017	-42.74%	+20.78%
2016	+8.18%	+13.59%
2015	-80.86%	+1.31%
2014	+171.61%	+14.56%
2013	-48.99%	+29.00%
2012	-13.04%	+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%

MARA vs SPY Drawdown Comparison

The maximum drawdown for MARA was -99.74%, occurring on Mar 18, 2020. 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 MARA drawdown is -91.50%. The current SPY drawdown is -0.92%.

Rank	MARA	SPY
#1	-99.74% Dec 23, 2014 - Mar 18, 2020	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-77.39% May 4, 2012 - Sep 12, 2014	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-26.35% Sep 12, 2014 - Dec 4, 2014	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-4.78% Dec 16, 2014 - Dec 22, 2014	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-2.81% Dec 8, 2014 - Dec 15, 2014	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	N/A	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	N/A	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	N/A	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	N/A	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	N/A	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	N/A	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	N/A	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	N/A	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	N/A	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	N/A	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between MARA and SPY is -0.47 which considered as a weak negative correlation - the stocks show a slight tendency to move in opposite directions.

-0.47

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