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SAR vs SPY

Comparison between Saratoga Investment Corp (SAR, Company) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed SAR, delivering a return of +12.6% compared to +5.5%

SAR vs SPY - Performance Comparison

Key Characteristics

Financial metrics and valuation ratios

Market Cap / Net Assets
SAR
$316M
Winner
SPY
$781B
Expense Ratio
SAR
N/A
SPY
0.09%
Max Drawdown
SAR
94.01%
Winner
SPY
56.47%
Sharpe Ratio
SAR
-0.42
Winner
SPY
1.04
5Y Beta
Winner
SAR
0.52
SPY
1.00
Industry
SAR
Asset Management
SPY
N/A
P/E Ratio
Winner
SAR
19.62
SPY
28.44
Forward P/E
Winner
SAR
12.67
SPY
21.16
PEG Ratio
SAR
0.00
SPY
N/A
Dividend Yield
SAR
15.80%
SPY
N/A
5Y Dividends CAGR
Winner
SAR
14.22%
SPY
6.00%
5Y EPS CAGR
SAR
N/A
SPY
25.40%
Debt to Equity
SAR
215.98%
Winner
SPY
31.56%
Free Cash Flow Yield
SAR
-46.36%
SPY
N/A
P/S Ratio
Winner
SAR
2.54
SPY
3.70
P/B Ratio
Winner
SAR
0.84
SPY
5.59

SAR vs SPY - Historical Returns

Returns include dividend reinvestment.

1M
SAR
-12.42%
Winner
SPY
-0.02%
3M
SAR
-10.40%
Winner
SPY
+4.36%
6M
SAR
-9.41%
Winner
SPY
+7.10%
1Y
SAR
-8.91%
Winner
SPY
+17.60%
5Y(CAGR)
SAR
+5.52%
Winner
SPY
+12.56%
10Y(CAGR)
SAR
+12.06%
Winner
SPY
+14.92%
Max(CAGR)
SAR
+5.01%
Winner
SPY
+8.45%

SAR vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

YearSARSPY
2026-7.76%+9.02%
2025+9.10%+18.00%
2024+6.50%+25.59%
2023+10.72%+26.72%
2022-4.08%-18.64%
2021+54.28%+30.52%
2020-10.77%+17.28%
2019+29.96%+31.09%
2018-2.27%-5.24%
2017+22.47%+20.78%
2016+48.92%+13.59%
2015+14.78%+1.31%
2014-3.24%+14.56%
2013+16.35%+29.00%
2012+56.12%+14.17%
2011-15.58%+0.85%
2010+26.49%+13.14%
2009+5.90%+22.67%
2008-67.73%-36.25%
2007-21.56%+5.32%
2006N/A+13.85%
2005N/A+5.32%
2004N/A+10.75%
2003N/A+24.18%
2002N/A-22.42%
2001N/A-10.13%
2000N/A-8.84%
1999N/A+8.61%

SAR vs SPY Drawdown Comparison

The maximum drawdown for SAR was -90.54%, occurring on Nov 24, 2008. Recovery took 2410 trading sessions.

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

The current SAR drawdown is -14.33%. The current SPY drawdown is -2.21%.

RankSARSPY
#1-90.54%
Jun 4, 2007 - Dec 27, 2016		-55.20%
Oct 9, 2007 - Aug 16, 2012
#2-69.89%
Feb 14, 2020 - Apr 5, 2021		-47.50%
Mar 24, 2000 - Oct 26, 2006
#3-28.49%
Jun 26, 2018 - Jul 26, 2019		-33.70%
Feb 19, 2020 - Aug 10, 2020
#4-25.99%
Oct 6, 2021 - Jan 10, 2023		-24.50%
Jan 3, 2022 - Dec 13, 2023
#5-22.46%
May 4, 2026 - Jul 9, 2026		-19.34%
Sep 20, 2018 - Apr 12, 2019
#6-15.50%
Feb 17, 2023 - May 24, 2023		-18.76%
Feb 19, 2025 - Jun 26, 2025
#7-15.19%
Jun 1, 2023 - Oct 9, 2024		-13.02%
Jul 20, 2015 - Apr 18, 2016
#8-14.36%
Apr 1, 2025 - May 6, 2025		-10.10%
Jan 26, 2018 - Aug 6, 2018
#9-13.85%
Sep 2, 2025 - Feb 2, 2026		-9.44%
Sep 2, 2020 - Nov 11, 2020
#10-13.25%
Jan 10, 2018 - May 15, 2018		-9.30%
Jan 19, 2000 - Mar 17, 2000
#11-12.48%
Mar 13, 2017 - Oct 23, 2017		-9.05%
Jul 19, 2007 - Oct 5, 2007
#12-11.73%
Mar 4, 2026 - May 1, 2026		-8.88%
Jan 27, 2026 - Apr 14, 2026
#13-8.61%
May 6, 2025 - May 27, 2025		-8.41%
Jul 16, 2024 - Sep 19, 2024
#14-7.37%
Feb 28, 2025 - Mar 27, 2025		-7.35%
Sep 14, 2012 - Jan 2, 2013
#15-7.20%
Mar 27, 2007 - May 29, 2007		-7.27%
Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between SAR 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)

SAR vs SPY dividend yield comparison.

YearSARSPY
202612.10%0.50%
202514.04%1.07%
202413.80%1.21%
202310.90%1.40%
202211.02%1.65%
20216.16%1.20%
20206.57%1.52%
20196.61%1.75%
201810.35%2.04%
201710.51%1.80%
20169.12%2.03%
201514.14%2.06%
20141.21%1.87%
201316.93%1.81%
201227.60%2.18%
201124.29%2.05%
201025.36%1.80%
2009103.69%1.95%
200862.99%3.02%
20079.66%1.85%
20060.00%1.73%
20050.00%1.73%
20040.00%1.82%
20030.00%1.47%
20020.00%1.70%
20010.00%1.25%
20000.00%1.15%
19990.00%0.24%

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