STEP vs SPY

Comparison between StepStone Group Inc - Class A (STEP, Company) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed STEP, delivering a return of +14.0% compared to +13.5%

STEP vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	STEP(COMPANY)	SPY(ETF)
Market Cap / Net Assets	$3.43B	$735B
Expense Ratio	N/A	0.09%
Max Drawdown	61.63%	56.47%
Sharpe Ratio	0.08	1.91
5Y Beta	1.61	1.00
Industry	Asset Management	N/A
P/E Ratio	-4.63	28.68
Forward P/E	20.04	22.19
Dividend Yield	1.94%	N/A
5Y Dividends CAGR	N/A	5.43%
5Y EPS CAGR	N/A	26.37%
Debt to Equity	-71.34%	34.04%
Free Cash Flow Yield	0.54%	N/A
P/S Ratio	3.45	3.76
P/B Ratio	32.40	5.55

Market Cap / Net Assets

STEP

$3.43B

Winner

SPY

$735B

Expense Ratio

STEP

N/A

SPY

0.09%

Max Drawdown

STEP

61.63%

Winner

SPY

56.47%

Sharpe Ratio

STEP

0.08

Winner

SPY

1.91

5Y Beta

STEP

1.61

Winner

SPY

1.00

Industry

STEP

Asset Management

SPY

N/A

P/E Ratio

Winner

STEP

-4.63

SPY

28.68

Forward P/E

Winner

STEP

20.04

SPY

22.19

Dividend Yield

STEP

1.94%

SPY

N/A

5Y Dividends CAGR

STEP

N/A

SPY

5.43%

5Y EPS CAGR

STEP

N/A

SPY

26.37%

Debt to Equity

Winner

STEP

-71.34%

SPY

34.04%

Free Cash Flow Yield

STEP

0.54%

SPY

N/A

P/S Ratio

Winner

STEP

3.45

SPY

3.76

P/B Ratio

STEP

32.40

Winner

SPY

5.55

STEP vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	STEP	SPY
1 month	-4.56%	+4.84%
3 months	+23.10%	+9.57%
6 months	-10.25%	+13.79%
1 year	-2.62%	+29.34%
5 years(CAGR)	+13.51%	+13.98%
10 years(CAGR)	N/A	+15.66%
Max(CAGR)	+17.06%	+8.53%

STEP

-4.56%

Winner

SPY

+4.84%

Winner

STEP

+23.10%

SPY

+9.57%

STEP

-10.25%

Winner

SPY

+13.79%

STEP

-2.62%

Winner

SPY

+29.34%

5Y(CAGR)

STEP

+13.51%

Winner

SPY

+13.98%

10Y(CAGR)

STEP

N/A

SPY

+15.66%

Max(CAGR)

Winner

STEP

+17.06%

SPY

+8.53%

STEP vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	STEP	SPY
2026	-18.80%	+9.45%
2025	+12.07%	+18.00%
2024	+86.60%	+25.59%
2023	+33.05%	+26.72%
2022	-36.47%	-18.64%
2021	+9.73%	+30.52%
2020	+59.20%	+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%

STEP vs SPY Drawdown Comparison

The maximum drawdown for STEP was -60.20%, occurring on May 4, 2023. Recovery took 688 trading sessions.

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

The current STEP drawdown is -29.08%. The current SPY drawdown is -0.34%.

Rank	STEP	SPY
#1	-60.20% Nov 15, 2021 - Aug 13, 2024	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-43.07% Jan 16, 2026 - Feb 27, 2026	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-38.28% Nov 11, 2024 - Oct 6, 2025	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-23.44% Dec 31, 2020 - Jul 12, 2021	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-15.84% Sep 2, 2021 - Nov 9, 2021	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-13.33% Nov 13, 2020 - Dec 4, 2020	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-12.47% Oct 6, 2025 - Jan 5, 2026	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-7.28% Oct 9, 2020 - Nov 3, 2020	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-6.89% Aug 30, 2024 - Sep 18, 2024	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-6.65% Sep 22, 2020 - Oct 9, 2020	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-6.27% Aug 10, 2021 - Aug 30, 2021	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-5.08% Jul 29, 2021 - Aug 6, 2021	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-4.76% Oct 29, 2024 - Nov 6, 2024	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-4.11% Dec 14, 2020 - Dec 18, 2020	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-3.97% Jul 12, 2021 - Jul 20, 2021	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between STEP and SPY is 0.88 which considered as a strong positive correlation - the stocks tend to move together.

0.88

-101

Dividend Comparison (1999 - 2026)

STEP vs SPY dividend yield comparison.

Year	STEP	SPY
2026	0.52%	0.24%
2025	2.24%	1.07%
2024	1.81%	1.21%
2023	3.36%	1.40%
2022	2.98%	1.65%
2021	0.87%	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%