SASS vs SPY

Comparison between M.D. SASS CONCENTRATED EQUITIES ETF (SASS, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

SASS vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	SASS(ETF)	SPY(ETF)
Net Assets	$74M	$735B
Expense Ratio	0.75%	0.09%
Max Drawdown	9.61%	56.47%
Sharpe Ratio	-1.15	1.62
5Y Beta	0.92	1.00
P/E Ratio	34.85	28.99
Forward P/E	21.26	22.37
PEG Ratio	0.44	N/A
5Y Dividends CAGR	N/A	5.43%
5Y EPS CAGR	12.52%	26.05%
Debt to Equity	49.63%	32.40%
P/S Ratio	2.21	3.74
P/B Ratio	3.56	5.61

Net Assets

SASS

$74M

Winner

SPY

$735B

Expense Ratio

SASS

0.75%

Winner

SPY

0.09%

Max Drawdown

Winner

SASS

9.61%

SPY

56.47%

Sharpe Ratio

SASS

-1.15

Winner

SPY

1.62

5Y Beta

Winner

SASS

0.92

SPY

1.00

P/E Ratio

SASS

34.85

Winner

SPY

28.99

Forward P/E

Winner

SASS

21.26

SPY

22.37

PEG Ratio

SASS

0.44

SPY

N/A

5Y Dividends CAGR

SASS

N/A

SPY

5.43%

5Y EPS CAGR

SASS

12.52%

Winner

SPY

26.05%

Debt to Equity

SASS

49.63%

Winner

SPY

32.40%

P/S Ratio

Winner

SASS

2.21

SPY

3.74

P/B Ratio

Winner

SASS

3.56

SPY

5.61

SASS vs SPY - Holdings Comparison

SASS and SPY have 16 common holdings. Overlap is 7.01%

SASS's top 25 holdings weight is 99.99%. SPY's top 25 holdings weight is 52.37%.

Rank	SASS	SPY
#1	HENRY SCHEIN INC (HSIC) - 6.92%	NVIDIA CORP (NVDA) - 8.10%
#2	PRIMO BRANDS CORP ORDINARY SHARES CLASS A (PRMB) - 6.73%	APPLE INC (AAPL) - 7.02%
#3	WILLIAMS COMPANIES INC (WMB) - 6.53%	MICROSOFT CORP (MSFT) - 4.79%
#4	AMETEK INC (AME) - 6.31%	AMAZON.COM INC (AMZN) - 4.02%
#5	AMAZON.COM INC (AMZN) - 5.50%	ALPHABET INC CLASS A (GOOGL) - 3.51%
#6	CLEAN HARBORS INC (CLH) - 5.40%	BROADCOM INC (AVGO) - 3.10%
#7	QUEST DIAGNOSTICS INC (DGX) - 5.25%	ALPHABET INC CLASS C (GOOG) - 2.79%
#8	CAPITAL ONE FINANCIAL CORP (COF) - 4.89%	META PLATFORMS INC CLASS A (META) - 2.08%
#9	C.H. ROBINSON WORLDWIDE INC (CHRW) - 4.74%	TESLA INC (TSLA) - 1.89%
#10	STANDARDAERO INC (SARO) - 4.71%	MICRON TECHNOLOGY INC (MU) - 1.56%
#11	WELLTOWER INC (WELL) - 4.71%	BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.37%
#12	SOMNIGROUP INTERNATIONAL INC (SGI) - 4.59%	ELI LILLY AND CO (LLY) - 1.31%
#13	INTERCONTINENTAL EXCHANGE INC (ICE) - 4.57%	JPMORGAN CHASE & CO (JPM) - 1.28%
#14	MARTIN MARIETTA MATERIALS INC (MLM) - 4.54%	ADVANCED MICRO DEVICES INC (AMD) - 1.27%
#15	API GROUP CORP (APG) - 4.36%	EXXON MOBIL CORP (XOM) - 0.97%
#16	SYNOPSYS INC (SNPS) - 3.69%	INTEL CORP (INTC) - 0.90%
#17	U.S. BANK MONEY MARKET DEPOSIT ACCOUNT (n/a) - 3.40%	JOHNSON & JOHNSON (JNJ) - 0.86%
#18	FLOWSERVE CORP (FLS) - 3.34%	VISA INC CLASS A (V) - 0.85%
#19	MICRON TECHNOLOGY INC (MU) - 3.00%	WALMART INC (WMT) - 0.81%
#20	QUANTA SERVICES INC (PWR) - 2.90%	CISCO SYSTEMS INC (CSCO) - 0.72%
#21	DANAHER CORP (DHR) - 2.17%	COSTCO WHOLESALE CORP (COST) - 0.69%
#22	CBRE GROUP INC CLASS A (CBRE) - 1.77%	CATERPILLAR INC (CAT) - 0.66%
#23	OTHER ASSETS AND LIABILITIES (n/a) - -0.01%	MASTERCARD INC CLASS A (MA) - 0.62%
#24	US DOLLARS (n/a) - -0.02%	LAM RESEARCH CORP (LRCX) - 0.62%
#25	N/A	ABBVIE INC (ABBV) - 0.58%
Total Holdings	24	505

SASS vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	SASS	SPY
1 month	-1.64%	+1.90%
3 months	-2.73%	+8.55%
6 months	N/A	+8.18%
1 year	N/A	+25.79%
5 years(CAGR)	N/A	+13.32%
10 years(CAGR)	N/A	+15.19%
Max(CAGR)	-16.04%	+8.47%

SASS

-1.64%

Winner

SPY

+1.90%

SASS

-2.73%

Winner

SPY

+8.55%

SASS

N/A

SPY

+8.18%

SASS

N/A

SPY

+25.79%

5Y(CAGR)

SASS

N/A

SPY

+13.32%

10Y(CAGR)

SASS

N/A

SPY

+15.19%

Max(CAGR)

SASS

-16.04%

Winner

SPY

+8.47%

SASS vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	SASS	SPY
2026	-4.35%	+8.26%
2025	N/A	+18.00%
2024	N/A	+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%

SASS vs SPY Drawdown Comparison

The maximum drawdown for SASS was -9.61%, occurring on Mar 27, 2026. 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 SASS drawdown is -4.35%. The current SPY drawdown is -2.90%.

Rank	SASS	SPY
#1	-9.61% Mar 4, 2026 - Mar 27, 2026	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	N/A	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	N/A	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	N/A	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	N/A	-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 SASS and SPY is 0.85 which considered as a strong positive correlation - the stocks tend to move together.

0.85

-101

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SASS vs SPY

SASS vs SPY - Performance Comparison

Key Characteristics

SASS vs SPY - Holdings Comparison

SASS vs SPY - Historical Returns

SASS vs SPY - Annual Returns (1999 - 2026)

SASS vs SPY Drawdown Comparison

Correlation

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