TW vs SPY
Comparison between Tradeweb Markets Inc Cls A (TW, Company) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed TW, delivering a return of +13.3% compared to +6.1%
TW vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Market Cap / Net Assets
TW
$23B
Winner
SPY
$652B
Expense Ratio
TW
N/A
SPY
0.09%
Max Drawdown
Winner
TW
48.81%
SPY
56.47%
Sharpe Ratio
TW
-0.97
Winner
SPY
2.07
5Y Beta
Winner
TW
0.42
SPY
1.00
Industry
TW
Capital Markets
SPY
N/A
P/E Ratio
TW
33.65
Winner
SPY
28.24
Forward P/E
TW
33.90
Winner
SPY
21.85
PEG Ratio
TW
0.66
SPY
N/A
Dividend Yield
TW
0.45%
SPY
N/A
5Y Dividends CAGR
Winner
TW
14.14%
SPY
5.43%
5Y EPS CAGR
TW
N/A
SPY
25.79%
Debt to Equity
Winner
TW
0.00%
SPY
22.35%
Free Cash Flow Yield
TW
5.00%
SPY
N/A
P/S Ratio
TW
11.05
Winner
SPY
3.55
P/B Ratio
Winner
TW
3.62
SPY
5.29
TW vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
TW
-13.94%
Winner
SPY
+9.11%
3M
TW
-5.82%
Winner
SPY
+6.59%
6M
TW
-0.05%
Winner
SPY
+10.56%
1Y
TW
-24.78%
Winner
SPY
+32.04%
5Y(CAGR)
TW
+6.11%
Winner
SPY
+13.35%
10Y(CAGR)
TW
N/A
SPY
+15.49%
Max(CAGR)
Winner
TW
+17.50%
SPY
+8.50%
TW vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | TW | SPY |
|---|---|---|
| 2026 | +2.57% | +8.27% |
| 2025 | -17.80% | +18.00% |
| 2024 | +47.17% | +25.59% |
| 2023 | +39.73% | +26.72% |
| 2022 | -32.39% | -18.64% |
| 2021 | +61.51% | +30.52% |
| 2020 | +34.39% | +17.28% |
| 2019 | +30.14% | +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% |
TW vs SPY Drawdown Comparison
The maximum drawdown for TW was -48.64%, occurring on Oct 11, 2022. Recovery took 532 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current TW drawdown is -26.69%.
| Rank | TW | SPY |
|---|---|---|
| #1 | -48.64% Dec 28, 2021 - Feb 9, 2024 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -33.05% Apr 3, 2025 - Feb 3, 2026 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -30.13% Mar 3, 2020 - Apr 16, 2020 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -26.88% Jul 23, 2019 - Feb 19, 2020 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -24.03% Jun 2, 2020 - Dec 17, 2020 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -11.45% Dec 18, 2020 - Feb 18, 2021 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -10.37% May 9, 2024 - Aug 8, 2024 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -9.40% Nov 26, 2024 - Mar 3, 2025 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -9.15% Aug 27, 2021 - Oct 29, 2021 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -8.87% May 31, 2019 - Jul 3, 2019 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -7.62% Apr 27, 2020 - May 8, 2020 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -7.47% Apr 15, 2019 - May 10, 2019 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -6.96% Mar 26, 2024 - May 6, 2024 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -6.75% Feb 21, 2020 - Mar 3, 2020 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -6.05% Oct 14, 2024 - Nov 22, 2024 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between TW and SPY is 0.89 which considered as a strong positive correlation - the stocks tend to move together.
0.89
-101
Dividend Comparison (1999 - 2026)
TW vs SPY dividend yield comparison.
| Year | TW | SPY |
|---|---|---|
| 2026 | 0.13% | 0.24% |
| 2025 | 0.45% | 1.07% |
| 2024 | 0.31% | 1.21% |
| 2023 | 0.40% | 1.40% |
| 2022 | 0.49% | 1.65% |
| 2021 | 0.32% | 1.20% |
| 2020 | 0.51% | 1.52% |
| 2019 | 0.52% | 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% |
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