RWTN vs SPY

Comparison between Redwood Trust Inc 9.125 Senior Notes Due 2029 (RWTN, Company) and SPDR S&P 500 ETF Trust (SPY, ETF).

RWTN vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	RWTN(COMPANY)	SPY(ETF)
Market Cap / Net Assets	$3.08B	$735B
Expense Ratio	N/A	0.09%
Max Drawdown	10.58%	56.47%
Sharpe Ratio	0.91	1.96
5Y Beta	0.14	1.00
P/E Ratio	-35.64	28.62
Forward P/E	N/A	22.09
Dividend Yield	7.79%	N/A
5Y Dividends CAGR	N/A	5.43%
5Y EPS CAGR	N/A	26.35%
Debt to Equity	0.00%	33.33%
P/S Ratio	N/A	3.68
P/B Ratio	N/A	5.52

Market Cap / Net Assets

RWTN

$3.08B

Winner

SPY

$735B

Expense Ratio

RWTN

N/A

SPY

0.09%

Max Drawdown

Winner

RWTN

10.58%

SPY

56.47%

Sharpe Ratio

RWTN

0.91

Winner

SPY

1.96

5Y Beta

Winner

RWTN

0.14

SPY

1.00

P/E Ratio

Winner

RWTN

-35.64

SPY

28.62

Forward P/E

RWTN

N/A

SPY

22.09

Dividend Yield

RWTN

7.79%

SPY

N/A

5Y Dividends CAGR

RWTN

N/A

SPY

5.43%

5Y EPS CAGR

RWTN

N/A

SPY

26.35%

Debt to Equity

Winner

RWTN

0.00%

SPY

33.33%

P/S Ratio

RWTN

N/A

SPY

3.68

P/B Ratio

RWTN

N/A

SPY

5.52

RWTN vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	RWTN	SPY
1 month	-0.87%	+4.95%
3 months	+1.39%	+9.19%
6 months	+4.75%	+11.06%
1 year	+11.30%	+28.43%
5 years(CAGR)	N/A	+13.92%
10 years(CAGR)	N/A	+15.50%
Max(CAGR)	+9.24%	+8.55%

RWTN

-0.87%

Winner

SPY

+4.95%

RWTN

+1.39%

Winner

SPY

+9.19%

RWTN

+4.75%

Winner

SPY

+11.06%

RWTN

+11.30%

Winner

SPY

+28.43%

5Y(CAGR)

RWTN

N/A

SPY

+13.92%

10Y(CAGR)

RWTN

N/A

SPY

+15.50%

Max(CAGR)

Winner

RWTN

+9.24%

SPY

+8.55%

RWTN vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	RWTN	SPY
2026	+3.91%	+10.17%
2025	+8.02%	+18.00%
2024	+9.19%	+25.59%
2023	N/A	+26.72%
2022	N/A	-18.64%
2021	N/A	+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%

RWTN vs SPY Drawdown Comparison

The maximum drawdown for RWTN was -7.37%, occurring on Apr 10, 2025. Recovery took 17 trading sessions.

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

The current RWTN drawdown is -0.87%.

Rank	RWTN	SPY
#1	-7.37% Apr 2, 2025 - Apr 28, 2025	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-5.74% Feb 24, 2026 - Apr 20, 2026	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-2.63% Jun 5, 2024 - Aug 23, 2024	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-2.27% Jul 24, 2025 - Sep 8, 2025	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-2.09% Nov 14, 2025 - Jan 8, 2026	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-2.09% Feb 18, 2025 - Mar 21, 2025	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-1.99% Apr 27, 2026 - May 19, 2026	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-1.93% Apr 28, 2025 - May 30, 2025	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-1.61% Jan 7, 2025 - Feb 18, 2025	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-1.53% Feb 23, 2024 - Mar 25, 2024	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-1.37% Mar 25, 2024 - Apr 19, 2024	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-1.32% Mar 25, 2025 - Apr 2, 2025	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-1.24% Nov 18, 2024 - Dec 2, 2024	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-1.23% May 2, 2024 - May 14, 2024	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-1.21% Dec 2, 2024 - Dec 16, 2024	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between RWTN and SPY is 0.96 which considered as a very strong positive correlation - the stocks move almost identically together.

0.96

-101

Dividend Comparison (1999 - 2026)

RWTN vs SPY dividend yield comparison.

Year	RWTN	SPY
2026	4.60%	0.24%
2025	9.15%	1.07%
2024	7.74%	1.21%
2023	0.00%	1.40%
2022	0.00%	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%