PPI vs SPY
Comparison between Investment Managers Series Trust II Astoria Real Assets ETF (PPI, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformancePPI has outperformed SPY, delivering a return of +14.0% compared to +13.0%
PPI vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
PPI
$155M
Winner
SPY
$781B
Expense Ratio
PPI
0.58%
Winner
SPY
0.09%
Max Drawdown
Winner
PPI
25.73%
SPY
56.47%
Sharpe Ratio
Winner
PPI
1.29
SPY
1.25
5Y Beta
PPI
1.20
Winner
SPY
1.00
P/E Ratio
Winner
PPI
18.75
SPY
28.78
Forward P/E
Winner
PPI
15.42
SPY
21.23
PEG Ratio
PPI
0.19
SPY
N/A
5Y Dividends CAGR
PPI
N/A
SPY
6.00%
5Y EPS CAGR
PPI
22.47%
Winner
SPY
25.62%
Debt to Equity
PPI
104.76%
Winner
SPY
31.92%
P/S Ratio
Winner
PPI
2.24
SPY
3.76
P/B Ratio
Winner
PPI
3.15
SPY
5.64
PPI vs SPY - Holdings Comparison
PPI and SPY have 30 common holdings. Overlap is 3.76%
PPI's top 25 holdings weight is 53.19%. SPY's top 25 holdings weight is 51.74%.
| Rank | PPI | SPY |
|---|---|---|
| #1 | SPDR® GOLD MINISHARES (GLDM) - 5.92% | NVIDIA CORP (NVDA) - 7.89% |
| #2 | GE VERNOVA INC (GEV) - 3.31% | APPLE INC (AAPL) - 7.37% |
| #3 | ABB LTD (n/a) - 2.79% | MICROSOFT CORP (MSFT) - 4.50% |
| #4 | ENGIE SA (n/a) - 2.50% | AMAZON.COM INC (AMZN) - 3.82% |
| #5 | SIMON PROPERTY GROUP INC (SPG) - 2.47% | ALPHABET INC CLASS A (GOOGL) - 3.33% |
| #6 | E.ON SE (n/a) - 2.22% | BROADCOM INC (AVGO) - 2.86% |
| #7 | VERTIV HOLDINGS CO CLASS A (VRT) - 2.17% | ALPHABET INC CLASS C (GOOG) - 2.68% |
| #8 | n/a (SHEL) - 2.16% | META PLATFORMS INC CLASS A (META) - 2.29% |
| #9 | AMERICAN ELECTRIC POWER CO INC (AEP) - 2.02% | TESLA INC (TSLA) - 1.70% |
| #10 | SIEMENS ENERGY AG ORDINARY SHARES (n/a) - 2.01% | MICRON TECHNOLOGY INC (MU) - 1.56% |
| #11 | HOWMET AEROSPACE INC (HWM) - 1.98% | JPMORGAN CHASE & CO (JPM) - 1.42% |
| #12 | AIR LIQUIDE SA (n/a) - 1.97% | ELI LILLY AND CO (LLY) - 1.40% |
| #13 | CUMMINS INC (CMI) - 1.93% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.37% |
| #14 | LOCKHEED MARTIN CORP (LMT) - 1.86% | ADVANCED MICRO DEVICES INC (AMD) - 1.32% |
| #15 | EXXONMOBIL HOLDINGS CORP (XOM) - 1.80% | EXXONMOBIL HOLDINGS CORP (XOM) - 0.92% |
| #16 | RIO TINTO PLC ADR (RIO) - 1.75% | JOHNSON & JOHNSON (JNJ) - 0.91% |
| #17 | CBRE GROUP INC CLASS A (CBRE) - 1.71% | VISA INC CLASS A (V) - 0.90% |
| #18 | VISTRA CORP (VST) - 1.69% | WALMART INC (WMT) - 0.76% |
| #19 | FREEPORT-MCMORAN INC (FCX) - 1.66% | INTEL CORP (INTC) - 0.75% |
| #20 | VICI PROPERTIES INC ORDINARY SHARES (VICI) - 1.62% | APPLIED MATERIALS INC (AMAT) - 0.70% |
| #21 | LAMAR ADVERTISING CO CLASS A (LAMR) - 1.56% | CISCO SYSTEMS INC (CSCO) - 0.68% |
| #22 | JONES LANG LASALLE INC (JLL) - 1.55% | MASTERCARD INC CLASS A (MA) - 0.66% |
| #23 | MITSUBISHI ELECTRIC CORP (n/a) - 1.54% | ABBVIE INC (ABBV) - 0.66% |
| #24 | VALERO ENERGY CORP (VLO) - 1.51% | CATERPILLAR INC (CAT) - 0.65% |
| #25 | HOST HOTELS & RESORTS INC (HST) - 1.49% | LAM RESEARCH CORP (LRCX) - 0.64% |
| Total Holdings | 85 | 505 |
PPI vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
PPI
-1.53%
Winner
SPY
+0.52%
3M
PPI
N/A
SPY
+6.55%
6M
PPI
N/A
SPY
+9.76%
1Y
Winner
PPI
+37.75%
SPY
+20.32%
5Y(CAGR)
Winner
PPI
+14.02%
SPY
+13.01%
10Y(CAGR)
PPI
N/A
SPY
+15.06%
Max(CAGR)
Winner
PPI
+14.02%
SPY
+8.50%
PPI vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | PPI | SPY |
|---|---|---|
| 2026 | -1.72% | +10.11% |
| 2025 | N/A | +18.00% |
| 2024 | +13.73% | +25.59% |
| 2023 | +12.51% | +26.72% |
| 2022 | +3.12% | -18.64% |
| 2021 | +0.23% | +30.52% |
| 2020 | N/A | +17.28% |
| 2019 | N/A | +31.09% |
| 2018 | N/A | -5.24% |
| 2017 | N/A | +20.78% |
| 2016 | N/A | +13.59% |
| 2015 | N/A | +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% |
PPI vs SPY Drawdown Comparison
The maximum drawdown for PPI was -24.56%, occurring on Jul 14, 2022. Recovery took 455 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current PPI drawdown is -1.72%. The current SPY drawdown is -1.24%.
| Rank | PPI | SPY |
|---|---|---|
| #1 | -24.56% Apr 20, 2022 - Feb 12, 2024 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -11.43% Apr 8, 2024 - May 28, 2026 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -6.82% Jan 14, 2022 - Feb 9, 2022 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -5.18% Mar 25, 2022 - Apr 20, 2022 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -4.27% May 28, 2026 - Jun 10, 2026 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -3.58% Feb 9, 2022 - Feb 28, 2022 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -2.85% Mar 2, 2022 - Mar 16, 2022 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -1.71% Feb 12, 2024 - Feb 15, 2024 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -1.18% Feb 28, 2022 - Mar 2, 2022 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -0.87% Mar 7, 2024 - Mar 13, 2024 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -0.77% Apr 3, 2024 - Apr 5, 2024 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -0.72% Jan 12, 2022 - Jan 14, 2022 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -0.58% Jan 4, 2022 - Jan 6, 2022 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -0.41% Feb 16, 2024 - Feb 21, 2024 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -0.39% Jan 7, 2022 - Jan 11, 2022 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between PPI and SPY is 0.97 which considered as a very strong positive correlation - the stocks move almost identically together.
0.97
-101
Dividend Comparison (1999 - 2026)
PPI vs SPY dividend yield comparison.
| Year | PPI | SPY |
|---|---|---|
| 2026 | 0.54% | 0.49% |
| 2025 | 0.00% | 1.07% |
| 2024 | 0.23% | 1.21% |
| 2023 | 2.86% | 1.40% |
| 2022 | 2.40% | 1.65% |
| 2021 | 0.00% | 1.20% |
| 2020 | 0.00% | 1.52% |
| 2019 | 0.00% | 1.75% |
| 2018 | 0.00% | 2.04% |
| 2017 | 0.00% | 1.80% |
| 2016 | 0.00% | 2.03% |
| 2015 | 0.00% | 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% |
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