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SLX vs SPY

Comparison between VANECK STEEL ETF (SLX, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSLX has outperformed SPY, delivering a return of +15.0% compared to +13.3%

SLX vs SPY - Performance Comparison

Key Characteristics

Financial metrics and valuation ratios

Net Assets
SLX
$159M
Winner
SPY
$735B
Expense Ratio
SLX
0.55%
Winner
SPY
0.09%
Max Drawdown
SLX
85.83%
Winner
SPY
56.47%
Sharpe Ratio
Winner
SLX
2.11
SPY
1.62
5Y Beta
SLX
1.08
Winner
SPY
1.00
P/E Ratio
Winner
SLX
13.22
SPY
28.99
Forward P/E
Winner
SLX
13.98
SPY
22.37
PEG Ratio
SLX
0.09
SPY
N/A
5Y Dividends CAGR
Winner
SLX
9.75%
SPY
5.43%
5Y EPS CAGR
SLX
17.63%
Winner
SPY
26.05%
Debt to Equity
Winner
SLX
31.44%
SPY
32.40%
P/S Ratio
Winner
SLX
0.00
SPY
3.74
P/B Ratio
Winner
SLX
1.68
SPY
5.61

SLX vs SPY - Holdings Comparison

SLX and SPY have 3 common holdings. Overlap is 0.14%

SLX's top 25 holdings weight is 91.59%. SPY's top 25 holdings weight is 52.37%.

RankSLXSPY
#1
BHP GROUP LTD ADR (BHP) - 8.06%
NVIDIA CORP (NVDA) - 8.10%
#2
RIO TINTO PLC ADR (RIO) - 7.93%
APPLE INC (AAPL) - 7.02%
#3
NUCOR CORP (NUE) - 7.17%
MICROSOFT CORP (MSFT) - 4.79%
#4
RIO TINTO LTD (n/a) - 6.76%
AMAZON.COM INC (AMZN) - 4.02%
#5
VALE SA ADR (VALE) - 6.43%
ALPHABET INC CLASS A (GOOGL) - 3.51%
#6
STEEL DYNAMICS INC (STLD) - 5.22%
BROADCOM INC (AVGO) - 3.10%
#7
ARCELORMITTAL SA DEPOSITORY RECEIPT (MT) - 5.17%
ALPHABET INC CLASS C (GOOG) - 2.79%
#8
FORTESCUE LTD (n/a) - 5.17%
META PLATFORMS INC CLASS A (META) - 2.08%
#9
POSCO HOLDINGS INC ADR (PKX) - 4.87%
TESLA INC (TSLA) - 1.89%
#10
RELIANCE INC (RS) - 4.69%
MICRON TECHNOLOGY INC (MU) - 1.56%
#11
TENARIS SA ADR (TS) - 3.67%
BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.37%
#12
NIPPON STEEL CORP (n/a) - 3.51%
ELI LILLY AND CO (LLY) - 1.31%
#13
CHINA STEEL CORP (n/a) - 2.67%
JPMORGAN CHASE & CO (JPM) - 1.28%
#14
BLUESCOPE STEEL LTD (n/a) - 2.23%
ADVANCED MICRO DEVICES INC (AMD) - 1.27%
#15
VOESTALPINE AG (n/a) - 2.11%
EXXON MOBIL CORP (XOM) - 0.97%
#16
SSAB AB (PUBL) CLASS B (n/a) - 2.08%
INTEL CORP (INTC) - 0.90%
#17
MINERAL RESOURCES LTD (n/a) - 2.04%
JOHNSON & JOHNSON (JNJ) - 0.86%
#18
JFE HOLDINGS INC (n/a) - 1.97%
VISA INC CLASS A (V) - 0.85%
#19
CLEVELAND-CLIFFS INC (CLF) - 1.94%
WALMART INC (WMT) - 0.81%
#20
COMMERCIAL METALS CO (CMC) - 1.84%
CISCO SYSTEMS INC (CSCO) - 0.72%
#21
GERDAU SA ADR (GGB) - 1.83%
COSTCO WHOLESALE CORP (COST) - 0.69%
#22
ACERINOX SA (n/a) - 1.19%
CATERPILLAR INC (CAT) - 0.66%
#23
TA CHEN STAINLESS PIPE CO LTD (n/a) - 1.10%
MASTERCARD INC CLASS A (MA) - 0.62%
#24
EREGLI DEMIR VE CELIK FABRIKALARI TAS (n/a) - 1.03%
LAM RESEARCH CORP (LRCX) - 0.62%
#25
TERNIUM SA ADR (TX) - 0.91%
ABBVIE INC (ABBV) - 0.58%
Total Holdings41505

SLX vs SPY - Historical Returns

Returns include dividend reinvestment.

1M
SLX
+1.86%
Winner
SPY
+1.90%
3M
Winner
SLX
+14.48%
SPY
+8.55%
6M
Winner
SLX
+32.61%
SPY
+8.18%
1Y
Winner
SLX
+68.38%
SPY
+25.79%
5Y(CAGR)
Winner
SLX
+14.99%
SPY
+13.32%
10Y(CAGR)
Winner
SLX
+18.75%
SPY
+15.19%
Max(CAGR)
SLX
+8.03%
Winner
SPY
+8.47%

SLX vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

YearSLXSPY
2026+23.45%+8.26%
2025+48.28%+18.00%
2024-17.15%+25.59%
2023+33.22%+26.72%
2022+14.39%-18.64%
2021+25.29%+30.52%
2020+19.62%+17.28%
2019+10.56%+31.09%
2018-22.43%-5.24%
2017+20.83%+20.78%
2016+99.31%+13.59%
2015-41.29%+1.31%
2014-24.86%+14.56%
2013+0.46%+29.00%
2012-1.01%+14.17%
2011-34.07%+0.85%
2010+14.62%+13.14%
2009+97.11%+22.67%
2008-63.20%-36.25%
2007+89.41%+5.32%
2006+10.38%+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%

SLX vs SPY Drawdown Comparison

The maximum drawdown for SLX was -82.16%, occurring on Jan 25, 2016. Recovery took 3699 trading sessions.

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

The current SLX drawdown is -6.08%. The current SPY drawdown is -2.90%.

RankSLXSPY
#1-82.16%
May 16, 2008 - Jan 26, 2023		-55.20%
Oct 9, 2007 - Aug 16, 2012
#2-27.39%
Dec 27, 2023 - Jul 22, 2025		-47.50%
Mar 24, 2000 - Oct 26, 2006
#3-23.74%
Jul 12, 2007 - Sep 18, 2007		-33.70%
Feb 19, 2020 - Aug 10, 2020
#4-21.19%
Dec 10, 2007 - Feb 22, 2008		-24.50%
Jan 3, 2022 - Dec 13, 2023
#5-20.93%
Mar 3, 2023 - Jul 25, 2023		-19.34%
Sep 20, 2018 - Apr 12, 2019
#6-16.35%
Feb 11, 2026 - Apr 22, 2026		-18.76%
Feb 19, 2025 - Jun 26, 2025
#7-15.61%
Jul 25, 2023 - Dec 1, 2023		-13.02%
Jul 20, 2015 - Apr 18, 2016
#8-12.00%
Oct 29, 2007 - Dec 7, 2007		-10.10%
Jan 26, 2018 - Aug 6, 2018
#9-11.43%
Feb 28, 2008 - Apr 4, 2008		-9.44%
Sep 2, 2020 - Nov 11, 2020
#10-10.12%
Feb 26, 2007 - Mar 21, 2007		-9.30%
Jan 19, 2000 - Mar 17, 2000
#11-10.02%
Jul 23, 2025 - Oct 3, 2025		-9.05%
Jul 19, 2007 - Oct 5, 2007
#12-7.05%
Dec 5, 2006 - Jan 23, 2007		-8.88%
Jan 27, 2026 - Apr 14, 2026
#13-6.54%
Jun 1, 2007 - Jul 2, 2007		-8.41%
Jul 16, 2024 - Sep 19, 2024
#14-6.37%
Feb 1, 2023 - Mar 2, 2023		-7.35%
Sep 14, 2012 - Jan 2, 2013
#15-6.08%
Jun 2, 2026 - Jun 5, 2026		-7.27%
Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between SLX and SPY is 0.79 which considered as a strong positive correlation - the stocks tend to move together.

0.79
-101

Dividend Comparison (1999 - 2026)

SLX vs SPY dividend yield comparison.

YearSLXSPY
20260.00%0.24%
20251.55%1.07%
20243.56%1.21%
20232.80%1.40%
20224.97%1.65%
20217.07%1.20%
20201.87%1.52%
20193.44%1.75%
20186.26%2.04%
20172.50%1.80%
20161.06%2.03%
20155.35%2.06%
20143.27%1.87%
20131.98%1.81%
20122.21%2.18%
20112.40%2.05%
20101.41%1.80%
20091.60%1.95%
20084.61%3.02%
20070.57%1.85%
20060.31%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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