USA vs SPY

Comparison between Liberty All-Star Equity Fund (USA, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed USA, delivering a return of +13.3% compared to +3.0%

USA vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	USA(ETF)	SPY(ETF)
Net Assets	$1.90B	$652B
Expense Ratio	N/A	0.09%
Max Drawdown	82.89%	56.47%
Sharpe Ratio	-0.14	2.07
5Y Beta	0.80	1.00
P/E Ratio	N/A	28.24
Forward P/E	N/A	21.85
5Y Dividends CAGR	5.01%	5.43%
5Y EPS CAGR	N/A	25.79%
Debt to Equity	N/A	22.35%
P/S Ratio	N/A	3.55
P/B Ratio	N/A	5.29

Net Assets

USA

$1.90B

Winner

SPY

$652B

Expense Ratio

USA

N/A

SPY

0.09%

Max Drawdown

USA

82.89%

Winner

SPY

56.47%

Sharpe Ratio

USA

-0.14

Winner

SPY

2.07

5Y Beta

Winner

USA

0.80

SPY

1.00

P/E Ratio

USA

N/A

SPY

28.24

Forward P/E

USA

N/A

SPY

21.85

5Y Dividends CAGR

USA

5.01%

Winner

SPY

5.43%

5Y EPS CAGR

USA

N/A

SPY

25.79%

Debt to Equity

USA

N/A

SPY

22.35%

P/S Ratio

USA

N/A

SPY

3.55

P/B Ratio

USA

N/A

SPY

5.29

USA vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	USA	SPY
1 month	+3.85%	+9.11%
3 months	-1.30%	+6.59%
6 months	+2.90%	+10.56%
1 year	-0.48%	+32.04%
5 years(CAGR)	+3.04%	+13.35%
10 years(CAGR)	+12.57%	+15.49%
Max(CAGR)	+6.68%	+8.50%

USA

+3.85%

Winner

SPY

+9.11%

USA

-1.30%

Winner

SPY

+6.59%

USA

+2.90%

Winner

SPY

+10.56%

USA

-0.48%

Winner

SPY

+32.04%

5Y(CAGR)

USA

+3.04%

Winner

SPY

+13.35%

10Y(CAGR)

USA

+12.57%

Winner

SPY

+15.49%

Max(CAGR)

USA

+6.68%

Winner

SPY

+8.50%

USA vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	USA	SPY
2026	-2.13%	+8.27%
2025	-0.65%	+18.00%
2024	+22.04%	+25.59%
2023	+21.13%	+26.72%
2022	-25.15%	-18.64%
2021	+37.60%	+30.52%
2020	+11.48%	+17.28%
2019	+39.77%	+31.09%
2018	-4.91%	-5.24%
2017	+32.32%	+20.78%
2016	+8.93%	+13.59%
2015	-2.04%	+1.31%
2014	+9.24%	+14.56%
2013	+28.69%	+29.00%
2012	+18.32%	+14.17%
2011	-8.62%	+0.85%
2010	+19.75%	+13.14%
2009	+30.27%	+22.67%
2008	-43.42%	-36.25%
2007	-5.19%	+5.32%
2006	+10.28%	+13.85%
2005	-5.71%	+5.32%
2004	+10.37%	+10.75%
2003	+50.09%	+24.18%
2002	-35.15%	-22.42%
2001	-2.94%	-10.13%
2000	+17.03%	-8.84%
1999	-7.83%	+8.61%

USA vs SPY Drawdown Comparison

The maximum drawdown for USA was -69.18%, occurring on Mar 9, 2009. Recovery took 1522 trading sessions.

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

The current USA drawdown is -7.40%.

Rank	USA	SPY
#1	-69.18% Jul 13, 2007 - Jul 30, 2013	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-50.47% May 21, 2001 - Mar 5, 2004	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-47.07% Feb 12, 2020 - Nov 17, 2020	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-33.98% Oct 11, 2021 - Jul 12, 2024	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-25.78% Sep 27, 2018 - Jun 18, 2019	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-21.83% May 14, 2015 - Dec 7, 2016	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-20.11% Nov 5, 1999 - Jun 16, 2000	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-18.49% Apr 5, 2004 - Feb 14, 2005	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-17.97% Aug 2, 2005 - Dec 20, 2006	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-17.69% Jan 28, 2025 - Apr 7, 2025	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-10.82% Jan 31, 2001 - May 1, 2001	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-10.47% Aug 27, 2014 - Nov 18, 2014	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-10.41% Apr 21, 2021 - Jun 1, 2021	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-10.03% Jan 26, 2018 - Jun 6, 2018	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-9.02% Feb 16, 2005 - Jul 26, 2005	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between USA and SPY is 0.98 which considered as a very strong positive correlation - the stocks move almost identically together.

0.98

-101

Dividend Comparison (1999 - 2026)

USA vs SPY dividend yield comparison.

Year	USA	SPY
2026	5.67%	0.24%
2025	10.67%	1.07%
2024	10.22%	1.21%
2023	9.56%	1.40%
2022	12.11%	1.65%
2021	9.67%	1.20%
2020	9.13%	1.52%
2019	9.75%	1.75%
2018	12.64%	2.04%
2017	8.89%	1.80%
2016	9.30%	2.03%
2015	9.53%	2.06%
2014	6.52%	1.87%
2013	5.86%	1.81%
2012	6.71%	2.18%
2011	8.06%	2.05%
2010	6.29%	1.80%
2009	7.16%	1.95%
2008	18.57%	3.02%
2007	12.77%	1.85%
2006	10.62%	1.73%
2005	9.54%	1.73%
2004	9.31%	1.82%
2003	8.25%	1.47%
2002	13.25%	1.70%
2001	10.82%	1.25%
2000	5.90%	1.15%
1999	0.00%	0.24%