XHG vs SPY

Comparison between XChange TEC.Inc American Depositary Shares (XHG, Company) and SPDR S&P 500 ETF Trust (SPY, ETF).

XHG vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	XHG(COMPANY)	SPY(ETF)
Market Cap / Net Assets	$35B	$652B
Expense Ratio	N/A	0.09%
Max Drawdown	99.84%	56.47%
Sharpe Ratio	0.15	2.07
5Y Beta	0.47	1.00
Industry	Insurance Brokers	N/A
P/E Ratio	-334.83	28.24
Forward P/E	N/A	21.85
5Y Dividends CAGR	N/A	5.43%
5Y EPS CAGR	N/A	25.79%
Debt to Equity	-3.70%	22.35%
P/S Ratio	0.10	3.55
P/B Ratio	N/A	5.29

Market Cap / Net Assets

XHG

$35B

Winner

SPY

$652B

Expense Ratio

XHG

N/A

SPY

0.09%

Max Drawdown

XHG

99.84%

Winner

SPY

56.47%

Sharpe Ratio

XHG

0.15

Winner

SPY

2.07

5Y Beta

Winner

XHG

0.47

SPY

1.00

Industry

XHG

Insurance Brokers

SPY

N/A

P/E Ratio

Winner

XHG

-334.83

SPY

28.24

Forward P/E

XHG

N/A

SPY

21.85

5Y Dividends CAGR

XHG

N/A

SPY

5.43%

5Y EPS CAGR

XHG

N/A

SPY

25.79%

Debt to Equity

Winner

XHG

-3.70%

SPY

22.35%

P/S Ratio

Winner

XHG

0.10

SPY

3.55

P/B Ratio

XHG

N/A

SPY

5.29

XHG vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	XHG	SPY
1 month	+21.75%	+9.11%
3 months	+18.29%	+6.59%
6 months	+26.22%	+10.56%
1 year	-37.27%	+32.04%
5 years(CAGR)	N/A	+13.35%
10 years(CAGR)	N/A	+15.49%
Max(CAGR)	-94.85%	+8.50%

Winner

XHG

+21.75%

SPY

+9.11%

Winner

XHG

+18.29%

SPY

+6.59%

Winner

XHG

+26.22%

SPY

+10.56%

XHG

-37.27%

Winner

SPY

+32.04%

5Y(CAGR)

XHG

N/A

SPY

+13.35%

10Y(CAGR)

XHG

N/A

SPY

+15.49%

Max(CAGR)

XHG

-94.85%

Winner

SPY

+8.50%

XHG vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	XHG	SPY
2026	+14.36%	+8.27%
2025	-95.37%	+18.00%
2024	-94.74%	+25.59%
2023	N/A	+26.72%
2022	N/A	-18.64%
2021	N/A	+30.52%
2020	N/A	+17.28%
2019	N/A	+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%

XHG vs SPY Drawdown Comparison

The maximum drawdown for XHG was -99.84%, occurring on Mar 6, 2026. 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 XHG drawdown is -99.78%.

Rank	XHG	SPY
#1	-99.84% Sep 24, 2024 - Mar 6, 2026	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-51.11% Aug 1, 2024 - Sep 24, 2024	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-36.58% Jun 4, 2024 - Jul 5, 2024	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-15.24% May 29, 2024 - May 31, 2024	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-9.32% Jul 25, 2024 - Aug 1, 2024	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-7.08% Jul 5, 2024 - Jul 25, 2024	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	N/A	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	N/A	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	N/A	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	N/A	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	N/A	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	N/A	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	N/A	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	N/A	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	N/A	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between XHG and SPY is -0.62 which considered as a moderate negative correlation - the stocks show some tendency to move in opposite directions.

-0.62

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