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TWO vs SPY

Comparison between Two Harbors Investment Corp (TWO, Company) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed TWO, delivering a return of +13.3% compared to -3.6%

TWO vs SPY - Performance Comparison

Key Characteristics

Financial metrics and valuation ratios

Market Cap / Net Assets
TWO
$1.31B
Winner
SPY
$735B
Expense Ratio
TWO
N/A
SPY
0.09%
Max Drawdown
TWO
92.02%
Winner
SPY
56.47%
Sharpe Ratio
TWO
0.82
Winner
SPY
1.62
5Y Beta
Winner
TWO
0.62
SPY
1.00
Industry
TWO
Reit - Mortgage
SPY
N/A
P/E Ratio
Winner
TWO
-3.79
SPY
28.99
Forward P/E
Winner
TWO
10.94
SPY
22.37
PEG Ratio
TWO
2.76
SPY
N/A
Dividend Yield
TWO
11.40%
SPY
N/A
5Y Dividends CAGR
TWO
-7.04%
Winner
SPY
5.43%
5Y EPS CAGR
TWO
N/A
SPY
26.05%
Debt to Equity
TWO
478.53%
Winner
SPY
32.40%
Free Cash Flow Yield
TWO
2.56%
SPY
N/A
P/S Ratio
Winner
TWO
2.67
SPY
3.74
P/B Ratio
Winner
TWO
1.17
SPY
5.61

TWO vs SPY - Historical Returns

Returns include dividend reinvestment.

1M
TWO
+0.65%
Winner
SPY
+1.90%
3M
Winner
TWO
+32.47%
SPY
+8.55%
6M
Winner
TWO
+28.51%
SPY
+8.18%
1Y
Winner
TWO
+32.43%
SPY
+25.79%
5Y(CAGR)
TWO
-3.62%
Winner
SPY
+13.32%
10Y(CAGR)
TWO
-3.60%
Winner
SPY
+15.19%
Max(CAGR)
TWO
+2.40%
Winner
SPY
+8.47%

TWO vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

YearTWOSPY
2026+24.13%+8.26%
2025+1.39%+18.00%
2024-2.38%+25.59%
2023-0.24%+26.72%
2022-25.38%-18.64%
2021+3.15%+30.52%
2020-52.49%+17.28%
2019+27.18%+31.09%
2018-9.54%-5.24%
2017+13.91%+20.78%
2016+18.53%+13.59%
2015-11.36%+1.31%
2014+17.20%+14.56%
2013-10.10%+29.00%
2012+39.18%+14.17%
2011+15.17%+0.85%
2010+17.22%+13.14%
2009+3.87%+22.67%
2008N/A-36.25%
2007N/A+5.32%
2006N/A+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%

TWO vs SPY Drawdown Comparison

The maximum drawdown for TWO was -84.71%, occurring on Apr 3, 2020. 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 TWO drawdown is -56.53%. The current SPY drawdown is -2.90%.

RankTWOSPY
#1-84.71%
Feb 20, 2020 - Apr 3, 2020		-55.20%
Oct 9, 2007 - Aug 16, 2012
#2-31.39%
Mar 26, 2013 - Feb 16, 2017		-47.50%
Mar 24, 2000 - Oct 26, 2006
#3-21.96%
Oct 5, 2017 - Nov 8, 2019		-33.70%
Feb 19, 2020 - Aug 10, 2020
#4-20.98%
Jul 6, 2011 - Feb 17, 2012		-24.50%
Jan 3, 2022 - Dec 13, 2023
#5-16.18%
Oct 8, 2012 - Jan 2, 2013		-19.34%
Sep 20, 2018 - Apr 12, 2019
#6-13.53%
Jan 4, 2010 - Sep 13, 2010		-18.76%
Feb 19, 2025 - Jun 26, 2025
#7-9.39%
Oct 30, 2009 - Dec 8, 2009		-13.02%
Jul 20, 2015 - Apr 18, 2016
#8-7.76%
Mar 9, 2011 - May 19, 2011		-10.10%
Jan 26, 2018 - Aug 6, 2018
#9-5.83%
Jun 19, 2017 - Aug 31, 2017		-9.44%
Sep 2, 2020 - Nov 11, 2020
#10-4.86%
Apr 27, 2012 - Jun 13, 2012		-9.30%
Jan 19, 2000 - Mar 17, 2000
#11-4.55%
Apr 27, 2017 - Jun 1, 2017		-9.05%
Jul 19, 2007 - Oct 5, 2007
#12-4.05%
May 19, 2011 - Jun 22, 2011		-8.88%
Jan 27, 2026 - Apr 14, 2026
#13-4.04%
Dec 8, 2009 - Dec 30, 2009		-8.41%
Jul 16, 2024 - Sep 19, 2024
#14-3.91%
Feb 19, 2013 - Feb 28, 2013		-7.35%
Sep 14, 2012 - Jan 2, 2013
#15-3.66%
Dec 13, 2010 - Dec 30, 2010		-7.27%
Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between TWO and SPY is -0.33 which considered as a weak negative correlation - the stocks show a slight tendency to move in opposite directions.

-0.33
-101

Dividend Comparison (1999 - 2026)

TWO vs SPY dividend yield comparison.

YearTWOSPY
20265.51%0.24%
202515.52%1.07%
202415.22%1.21%
202315.08%1.40%
202212.94%1.65%
202111.79%1.20%
20207.85%1.52%
201911.42%1.75%
201814.64%2.04%
201723.31%1.80%
201610.67%2.03%
201512.84%2.06%
201410.38%1.87%
201312.61%1.81%
201215.43%2.18%
201121.32%2.05%
201015.12%1.80%
20092.65%1.95%
20080.00%3.02%
20070.00%1.85%
20060.00%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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