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PAI vs SPY

Comparison between Western Asset Investment Grade Income Fund Inc (PAI, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed PAI, delivering a return of +13.0% compared to -0.4%

PAI vs SPY - Performance Comparison

Key Characteristics

Financial metrics and valuation ratios

Net Assets
PAI
$125M
Winner
SPY
$781B
Expense Ratio
PAI
N/A
SPY
0.09%
Max Drawdown
Winner
PAI
45.93%
SPY
56.47%
Sharpe Ratio
PAI
-0.71
Winner
SPY
1.25
5Y Beta
Winner
PAI
0.22
SPY
1.00
P/E Ratio
PAI
N/A
SPY
28.78
Forward P/E
PAI
N/A
SPY
21.23
5Y Dividends CAGR
PAI
3.72%
Winner
SPY
6.00%
5Y EPS CAGR
PAI
N/A
SPY
25.62%
Debt to Equity
PAI
N/A
SPY
31.92%
P/S Ratio
PAI
N/A
SPY
3.76
P/B Ratio
PAI
N/A
SPY
5.64

PAI vs SPY - Historical Returns

Returns include dividend reinvestment.

1M
PAI
-0.48%
Winner
SPY
+0.52%
3M
PAI
-0.79%
Winner
SPY
+6.55%
6M
PAI
-2.15%
Winner
SPY
+9.76%
1Y
PAI
-1.15%
Winner
SPY
+20.32%
5Y(CAGR)
PAI
-0.44%
Winner
SPY
+13.01%
10Y(CAGR)
PAI
+2.81%
Winner
SPY
+15.06%
Max(CAGR)
PAI
+6.00%
Winner
SPY
+8.50%

PAI vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

YearPAISPY
2026-1.84%+10.11%
2025+7.09%+18.00%
2024+9.44%+25.59%
2023+7.42%+26.72%
2022-21.03%-18.64%
2021+1.88%+30.52%
2020+6.17%+17.28%
2019+20.23%+31.09%
2018-11.78%-5.24%
2017+16.74%+20.78%
2016+15.58%+13.59%
2015+1.70%+1.31%
2014+7.73%+14.56%
2013-7.43%+29.00%
2012+12.40%+14.17%
2011+13.11%+0.85%
2010+6.63%+13.14%
2009+29.99%+22.67%
2008-16.92%-36.25%
2007-5.46%+5.32%
2006+16.18%+13.85%
2005-0.98%+5.32%
2004+10.46%+10.75%
2003+15.49%+24.18%
2002+6.03%-22.42%
2001+14.94%-10.13%
2000+25.82%-8.84%
1999-2.13%+8.61%

PAI vs SPY Drawdown Comparison

The maximum drawdown for PAI was -38.96%, occurring on Nov 24, 2008. Recovery took 575 trading sessions.

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

The current PAI drawdown is -11.83%. The current SPY drawdown is -1.24%.

RankPAISPY
#1-38.96%
Jun 1, 2007 - Sep 11, 2009		-55.20%
Oct 9, 2007 - Aug 16, 2012
#2-33.71%
Dec 2, 2021 - Oct 20, 2022		-47.50%
Mar 24, 2000 - Oct 26, 2006
#3-30.98%
Nov 15, 2019 - Jul 15, 2020		-33.70%
Feb 19, 2020 - Aug 10, 2020
#4-22.02%
Nov 26, 2012 - Apr 22, 2016		-24.50%
Jan 3, 2022 - Dec 13, 2023
#5-19.82%
Sep 28, 2017 - Jun 11, 2019		-19.34%
Sep 20, 2018 - Apr 12, 2019
#6-13.79%
May 24, 2010 - Sep 1, 2011		-18.76%
Feb 19, 2025 - Jun 26, 2025
#7-13.48%
Aug 30, 2016 - Jun 19, 2017		-13.02%
Jul 20, 2015 - Apr 18, 2016
#8-10.99%
Mar 17, 2004 - Sep 15, 2004		-10.10%
Jan 26, 2018 - Aug 6, 2018
#9-9.79%
Nov 9, 2012 - Nov 21, 2012		-9.44%
Sep 2, 2020 - Nov 11, 2020
#10-9.55%
Sep 28, 2020 - Aug 20, 2021		-9.30%
Jan 19, 2000 - Mar 17, 2000
#11-9.15%
Sep 24, 2002 - Dec 16, 2002		-9.05%
Jul 19, 2007 - Oct 5, 2007
#12-8.91%
Jun 20, 2003 - Nov 20, 2003		-8.88%
Jan 27, 2026 - Apr 14, 2026
#13-8.83%
Sep 30, 2009 - Mar 17, 2010		-8.41%
Jul 16, 2024 - Sep 19, 2024
#14-8.29%
Sep 15, 2021 - Nov 19, 2021		-7.35%
Sep 14, 2012 - Jan 2, 2013
#15-8.08%
Feb 10, 2005 - Jun 30, 2005		-7.27%
Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between PAI and SPY is 0.84 which considered as a strong positive correlation - the stocks tend to move together.

0.84
-101

Dividend Comparison (1999 - 2026)

PAI vs SPY dividend yield comparison.

YearPAISPY
20262.19%0.49%
20255.45%1.07%
20244.83%1.21%
20234.67%1.40%
20224.82%1.65%
20213.57%1.20%
20203.82%1.52%
20194.43%1.75%
20185.23%2.04%
20174.36%1.80%
20164.82%2.03%
20155.30%2.06%
20145.13%1.87%
20135.24%1.81%
20124.84%2.18%
20115.39%2.05%
20106.13%1.80%
20097.37%1.95%
20089.37%3.02%
20078.28%1.85%
20065.59%1.73%
20057.58%1.73%
20049.41%1.82%
20036.38%1.47%
20026.97%1.70%
20017.28%1.25%
20008.00%1.15%
19992.10%0.24%

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