WTM vs SPY
Comparison between White Mountains Insurance Group Ltd (WTM, Company) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed WTM, delivering a return of +13.8% compared to +12.3%
WTM vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
WTM vs SPY - Historical Returns
Returns include dividend reinvestment.
WTM vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | WTM | SPY |
|---|---|---|
| 2026 | +5.09% | +8.80% |
| 2025 | +7.78% | +18.00% |
| 2024 | +28.89% | +25.59% |
| 2023 | +7.82% | +26.72% |
| 2022 | +40.13% | -18.64% |
| 2021 | +0.02% | +30.52% |
| 2020 | -10.78% | +17.28% |
| 2019 | +30.61% | +31.09% |
| 2018 | +1.26% | -5.24% |
| 2017 | +0.31% | +20.78% |
| 2016 | +16.25% | +13.59% |
| 2015 | +15.17% | +1.31% |
| 2014 | +5.05% | +14.56% |
| 2013 | +15.41% | +29.00% |
| 2012 | +13.20% | +14.17% |
| 2011 | +32.29% | +0.85% |
| 2010 | +0.31% | +13.14% |
| 2009 | +27.07% | +22.67% |
| 2008 | -46.61% | -36.25% |
| 2007 | -10.07% | +5.32% |
| 2006 | +5.94% | +13.85% |
| 2005 | -10.36% | +5.32% |
| 2004 | +42.59% | +10.75% |
| 2003 | +42.62% | +24.18% |
| 2002 | -7.44% | -22.42% |
| 2001 | +10.58% | -10.13% |
| 2000 | +172.82% | -8.84% |
| 1999 | -4.04% | +8.61% |
WTM vs SPY Drawdown Comparison
The maximum drawdown for WTM was -77.48%, occurring on Mar 9, 2009. Recovery took 2327 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current WTM drawdown is -7.53%. The current SPY drawdown is -0.92%.
| Rank | WTM | SPY |
|---|---|---|
| #1 | -77.48% Sep 8, 2005 - Dec 5, 2014 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -40.16% Feb 11, 2020 - Feb 10, 2021 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -27.02% Jun 21, 2001 - May 12, 2003 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -22.07% Feb 22, 2021 - Jun 7, 2022 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -18.77% Nov 1, 1999 - Mar 14, 2000 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -18.05% Nov 25, 2024 - Nov 26, 2025 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -16.59% Mar 1, 2017 - Sep 14, 2018 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -16.37% Mar 11, 2005 - Aug 19, 2005 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -15.67% Apr 6, 2004 - Nov 18, 2004 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -15.54% Sep 8, 2022 - Oct 28, 2022 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -14.93% Feb 17, 2023 - Jul 20, 2023 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -14.80% Sep 14, 2018 - May 31, 2019 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -13.91% Jun 16, 2003 - Oct 3, 2003 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -13.43% Nov 30, 2015 - Apr 1, 2016 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -12.42% Sep 29, 2000 - Nov 10, 2000 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between WTM and SPY is 0.97 which considered as a very strong positive correlation - the stocks move almost identically together.
Dividend Comparison (1999 - 2026)
WTM vs SPY dividend yield comparison.
| Year | WTM | SPY |
|---|---|---|
| 2026 | 0.05% | 0.24% |
| 2025 | 0.05% | 1.07% |
| 2024 | 0.05% | 1.21% |
| 2023 | 0.07% | 1.40% |
| 2022 | 0.07% | 1.65% |
| 2021 | 0.10% | 1.20% |
| 2020 | 0.10% | 1.52% |
| 2019 | 0.09% | 1.75% |
| 2018 | 0.12% | 2.04% |
| 2017 | 0.12% | 1.80% |
| 2016 | 0.12% | 2.03% |
| 2015 | 0.14% | 2.06% |
| 2014 | 0.16% | 1.87% |
| 2013 | 0.17% | 1.81% |
| 2012 | 0.19% | 2.18% |
| 2011 | 0.22% | 2.05% |
| 2010 | 0.30% | 1.80% |
| 2009 | 0.30% | 1.95% |
| 2008 | 3.00% | 3.02% |
| 2007 | 1.56% | 1.85% |
| 2006 | 1.38% | 1.73% |
| 2005 | 1.43% | 1.73% |
| 2004 | 0.15% | 1.82% |
| 2003 | 0.22% | 1.47% |
| 2002 | 0.31% | 1.70% |
| 2001 | 0.29% | 1.25% |
| 2000 | 0.25% | 1.15% |
| 1999 | 0.33% | 0.24% |
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