SPY vs BND

Comparison between SPDR S&P 500 ETF Trust (SPY, ETF) and VANGUARD TOTAL BOND MARKET INDEX FUND ETF SHARES (BND, ETF).

5-Year PerformanceSPY has outperformed BND, delivering a return of +13.3% compared to +0.2%

SPY vs BND - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	SPY(ETF)	BND(ETF)
Net Assets	$652B	$388B
Expense Ratio	0.09%	0.03%
Max Drawdown	56.47%	23.96%
Sharpe Ratio	2.07	0.33
5Y Beta	1.00	0.04
P/E Ratio	28.24	N/A
Forward P/E	21.85	N/A
5Y Dividends CAGR	5.43%	9.22%
5Y EPS CAGR	25.79%	N/A
Debt to Equity	22.35%	N/A
P/S Ratio	3.55	N/A
P/B Ratio	5.29	N/A

Net Assets

Winner

SPY

$652B

BND

$388B

Expense Ratio

SPY

0.09%

Winner

BND

0.03%

Max Drawdown

SPY

56.47%

Winner

BND

23.96%

Sharpe Ratio

Winner

SPY

2.07

BND

0.33

5Y Beta

SPY

1.00

Winner

BND

0.04

P/E Ratio

SPY

28.24

BND

N/A

Forward P/E

SPY

21.85

BND

N/A

5Y Dividends CAGR

SPY

5.43%

Winner

BND

9.22%

5Y EPS CAGR

SPY

25.79%

BND

N/A

Debt to Equity

SPY

22.35%

BND

N/A

P/S Ratio

SPY

3.55

BND

N/A

P/B Ratio

SPY

5.29

BND

N/A

SPY vs BND - Historical Returns

Returns include dividend reinvestment.

Period	SPY	BND
1 month	+9.11%	+0.10%
3 months	+6.59%	+0.03%
6 months	+10.56%	+0.91%
1 year	+32.04%	+5.48%
5 years(CAGR)	+13.35%	+0.19%
10 years(CAGR)	+15.49%	+1.66%
Max(CAGR)	+8.50%	+3.07%

Winner

SPY

+9.11%

BND

+0.10%

Winner

SPY

+6.59%

BND

+0.03%

Winner

SPY

+10.56%

BND

+0.91%

Winner

SPY

+32.04%

BND

+5.48%

5Y(CAGR)

Winner

SPY

+13.35%

BND

+0.19%

10Y(CAGR)

Winner

SPY

+15.49%

BND

+1.66%

Max(CAGR)

Winner

SPY

+8.50%

BND

+3.07%

SPY vs BND - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	SPY	BND
2026	+8.27%	+0.64%
2025	+18.00%	+7.04%
2024	+25.59%	+1.81%
2023	+26.72%	+5.10%
2022	-18.64%	-12.53%
2021	+30.52%	-1.73%
2020	+17.28%	+7.57%
2019	+31.09%	+8.62%
2018	-5.24%	+0.17%
2017	+20.78%	+3.55%
2016	+13.59%	+2.57%
2015	+1.31%	+0.22%
2014	+14.56%	+5.73%
2013	+29.00%	-1.95%
2012	+14.17%	+4.16%
2011	+0.85%	+8.06%
2010	+13.14%	+6.08%
2009	+22.67%	+4.02%
2008	-36.25%	+6.89%
2007	+5.32%	+6.09%
2006	+13.85%	N/A
2005	+5.32%	N/A
2004	+10.75%	N/A
2003	+24.18%	N/A
2002	-22.42%	N/A
2001	-10.13%	N/A
2000	-8.84%	N/A
1999	+8.61%	N/A

SPY vs BND Drawdown Comparison

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

The maximum drawdown for BND was -18.58%, occurring on Oct 20, 2022. This drawdown has not yet recovered.

The current BND drawdown is -2.05%.

Rank	SPY	BND
#1	-55.20% Oct 9, 2007 - Aug 16, 2012	-18.58% Aug 6, 2020 - Oct 20, 2022
#2	-47.50% Mar 24, 2000 - Oct 26, 2006	-9.31% Sep 15, 2008 - Dec 15, 2008
#3	-33.70% Feb 19, 2020 - Aug 10, 2020	-8.67% Mar 6, 2020 - May 21, 2020
#4	-24.50% Jan 3, 2022 - Dec 13, 2023	-5.18% May 2, 2013 - May 14, 2014
#5	-19.34% Sep 20, 2018 - Apr 12, 2019	-4.75% Jul 8, 2016 - Sep 5, 2017
#6	-18.76% Feb 19, 2025 - Jun 26, 2025	-3.59% Nov 4, 2010 - May 9, 2011
#7	-13.02% Jul 20, 2015 - Apr 18, 2016	-3.54% Sep 7, 2017 - Jan 3, 2019
#8	-10.10% Jan 26, 2018 - Aug 6, 2018	-3.16% Dec 31, 2008 - Jun 25, 2009
#9	-9.44% Sep 2, 2020 - Nov 11, 2020	-3.13% Jan 30, 2015 - Feb 10, 2016
#10	-9.30% Jan 19, 2000 - Mar 17, 2000	-2.81% Jan 22, 2008 - Sep 4, 2008
#11	-9.05% Jul 19, 2007 - Oct 5, 2007	-2.32% May 8, 2007 - Aug 3, 2007
#12	-8.88% Jan 27, 2026 - Apr 14, 2026	-2.17% Sep 4, 2019 - Jan 21, 2020
#13	-8.41% Jul 16, 2024 - Sep 19, 2024	-1.73% Nov 27, 2009 - Feb 5, 2010
#14	-7.35% Sep 14, 2012 - Jan 2, 2013	-1.55% Dec 3, 2007 - Dec 31, 2007
#15	-7.27% Sep 18, 2014 - Oct 31, 2014	-1.51% Sep 22, 2011 - Nov 1, 2011

Correlation

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

0.79

-101

Dividend Comparison (1999 - 2026)

SPY vs BND dividend yield comparison.

Year	SPY	BND
2026	0.24%	1.31%
2025	1.07%	3.86%
2024	1.21%	3.67%
2023	1.40%	3.09%
2022	1.65%	2.60%
2021	1.20%	2.12%
2020	1.52%	2.38%
2019	1.75%	2.72%
2018	2.04%	2.81%
2017	1.80%	2.54%
2016	2.03%	2.51%
2015	2.06%	2.57%
2014	1.87%	2.79%
2013	1.81%	2.78%
2012	2.18%	3.19%
2011	2.05%	3.57%
2010	1.80%	3.92%
2009	1.95%	4.02%
2008	3.02%	4.46%
2007	1.85%	3.04%
2006	1.73%	0.00%
2005	1.73%	0.00%
2004	1.82%	0.00%
2003	1.47%	0.00%
2002	1.70%	0.00%
2001	1.25%	0.00%
2000	1.15%	0.00%
1999	0.24%	0.00%