WAL vs SPY

Comparison between Western Alliance Bancorp (WAL, Company) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed WAL, delivering a return of +13.7% compared to -4.5%

WAL vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	WAL(COMPANY)	SPY(ETF)
Market Cap / Net Assets	$8.11B	$735B
Expense Ratio	N/A	0.09%
Max Drawdown	92.14%	56.47%
Sharpe Ratio	-0.03	1.76
5Y Beta	1.45	1.00
Industry	Banks - Regional	N/A
P/E Ratio	9.43	28.46
Forward P/E	7.87	21.99
PEG Ratio	0.98	N/A
Dividend Yield	2.11%	N/A
5Y Dividends CAGR	10.07%	5.43%
5Y EPS CAGR	11.00%	25.20%
Debt to Equity	73.67%	33.33%
Free Cash Flow Yield	-18.89%	N/A
P/S Ratio	2.42	3.65
P/B Ratio	1.22	5.50

Market Cap / Net Assets

WAL

$8.11B

Winner

SPY

$735B

Expense Ratio

WAL

N/A

SPY

0.09%

Max Drawdown

WAL

92.14%

Winner

SPY

56.47%

Sharpe Ratio

WAL

-0.03

Winner

SPY

1.76

5Y Beta

WAL

1.45

Winner

SPY

1.00

Industry

WAL

Banks - Regional

SPY

N/A

P/E Ratio

Winner

WAL

9.43

SPY

28.46

Forward P/E

Winner

WAL

7.87

SPY

21.99

PEG Ratio

WAL

0.98

SPY

N/A

Dividend Yield

WAL

2.11%

SPY

N/A

5Y Dividends CAGR

Winner

WAL

10.07%

SPY

5.43%

5Y EPS CAGR

WAL

11.00%

Winner

SPY

25.20%

Debt to Equity

WAL

73.67%

Winner

SPY

33.33%

Free Cash Flow Yield

WAL

-18.89%

SPY

N/A

P/S Ratio

Winner

WAL

2.42

SPY

3.65

P/B Ratio

Winner

WAL

1.22

SPY

5.50

WAL vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	WAL	SPY
1 month	-4.69%	+5.60%
3 months	-19.35%	+8.72%
6 months	-3.83%	+10.63%
1 year	-3.12%	+26.62%
5 years(CAGR)	-4.54%	+13.70%
10 years(CAGR)	+9.60%	+15.47%
Max(CAGR)	+5.91%	+8.50%

WAL

-4.69%

Winner

SPY

+5.60%

WAL

-19.35%

Winner

SPY

+8.72%

WAL

-3.83%

Winner

SPY

+10.63%

WAL

-3.12%

Winner

SPY

+26.62%

5Y(CAGR)

WAL

-4.54%

Winner

SPY

+13.70%

10Y(CAGR)

WAL

+9.60%

Winner

SPY

+15.47%

Max(CAGR)

WAL

+5.91%

Winner

SPY

+8.50%

WAL vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	WAL	SPY
2026	-12.05%	+8.50%
2025	+3.36%	+18.00%
2024	+31.83%	+25.59%
2023	+16.17%	+26.72%
2022	-44.64%	-18.64%
2021	+84.52%	+30.52%
2020	+6.36%	+17.28%
2019	+44.41%	+31.09%
2018	-30.56%	-5.24%
2017	+14.78%	+20.78%
2016	+38.66%	+13.59%
2015	+29.69%	+1.31%
2014	+19.11%	+14.56%
2013	+116.71%	+29.00%
2012	+60.52%	+14.17%
2011	-17.92%	+0.85%
2010	+87.28%	+13.14%
2009	-62.65%	+22.67%
2008	-42.01%	-36.25%
2007	-45.34%	+5.32%
2006	+15.29%	+13.85%
2005	+14.88%	+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%

WAL vs SPY Drawdown Comparison

The maximum drawdown for WAL was -92.14%, occurring on Nov 11, 2009. Recovery took 2337 trading sessions.

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

The current WAL drawdown is -32.80%. The current SPY drawdown is -1.20%.

Rank	WAL	SPY
#1	-92.14% Jul 28, 2006 - Nov 9, 2015	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-84.79% Nov 3, 2021 - May 4, 2023	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-64.49% Jun 8, 2018 - Jan 6, 2021	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-29.41% Nov 30, 2015 - Oct 5, 2016	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-20.51% Aug 3, 2005 - Jan 31, 2006	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-17.26% Apr 27, 2021 - Sep 29, 2021	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-17.19% Apr 19, 2006 - Jul 28, 2006	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-15.64% Mar 1, 2017 - Oct 2, 2017	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-10.50% Mar 9, 2018 - Jun 6, 2018	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-8.18% Mar 19, 2021 - Apr 16, 2021	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-7.06% Oct 10, 2016 - Nov 9, 2016	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-6.37% Oct 22, 2021 - Nov 3, 2021	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-6.25% Feb 24, 2021 - Mar 12, 2021	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-5.89% Dec 8, 2016 - Jan 27, 2017	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-5.87% Jan 14, 2021 - Feb 4, 2021	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between WAL 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)

WAL vs SPY dividend yield comparison.

Year	WAL	SPY
2026	1.13%	0.24%
2025	1.86%	1.07%
2024	1.78%	1.21%
2023	2.20%	1.40%
2022	2.38%	1.65%
2021	1.11%	1.20%
2020	1.67%	1.52%
2019	0.88%	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%