XP vs SPY

Comparison between XP Inc - Class A (XP, Company) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed XP, delivering a return of +14.0% compared to -14.4%

XP vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	XP(COMPANY)	SPY(ETF)
Market Cap / Net Assets	$8.99B	$735B
Expense Ratio	N/A	0.09%
Max Drawdown	79.19%	56.47%
Sharpe Ratio	0.05	1.88
5Y Beta	1.00	1.00
Industry	Capital Markets	N/A
P/E Ratio	9.37	28.46
Forward P/E	9.53	21.99
PEG Ratio	0.45	N/A
Dividend Yield	1.04%	N/A
5Y Dividends CAGR	N/A	5.43%
5Y EPS CAGR	18.45%	25.20%
Debt to Equity	362.26%	33.33%
Free Cash Flow Yield	24.65%	N/A
P/S Ratio	0.50	3.65
P/B Ratio	2.08	5.50

Market Cap / Net Assets

$8.99B

Winner

SPY

$735B

Expense Ratio

N/A

SPY

0.09%

Max Drawdown

79.19%

Winner

SPY

56.47%

Sharpe Ratio

0.05

Winner

SPY

1.88

5Y Beta

1.00

Winner

SPY

1.00

Industry

Capital Markets

SPY

N/A

P/E Ratio

Winner

9.37

SPY

28.46

Forward P/E

Winner

9.53

SPY

21.99

PEG Ratio

0.45

SPY

N/A

Dividend Yield

1.04%

SPY

N/A

5Y Dividends CAGR

N/A

SPY

5.43%

5Y EPS CAGR

18.45%

Winner

SPY

25.20%

Debt to Equity

362.26%

Winner

SPY

33.33%

Free Cash Flow Yield

24.65%

SPY

N/A

P/S Ratio

Winner

0.50

SPY

3.65

P/B Ratio

Winner

2.08

SPY

5.50

XP vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	XP	SPY
1 month	-17.14%	+7.73%
3 months	-11.42%	+10.05%
6 months	-4.73%	+11.98%
1 year	-5.99%	+28.79%
5 years(CAGR)	-14.39%	+13.98%
10 years(CAGR)	N/A	+15.71%
Max(CAGR)	-8.32%	+8.55%

-17.14%

Winner

SPY

+7.73%

-11.42%

Winner

SPY

+10.05%

-4.73%

Winner

SPY

+11.98%

-5.99%

Winner

SPY

+28.79%

5Y(CAGR)

-14.39%

Winner

SPY

+13.98%

10Y(CAGR)

N/A

SPY

+15.71%

Max(CAGR)

-8.32%

Winner

SPY

+8.55%

XP vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	XP	SPY
2026	+8.78%	+9.82%
2025	+40.01%	+18.00%
2024	-51.35%	+25.59%
2023	+99.31%	+26.72%
2022	-47.09%	-18.64%
2021	-26.70%	+30.52%
2020	+2.80%	+17.28%
2019	+11.78%	+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%

XP vs SPY Drawdown Comparison

The maximum drawdown for XP was -79.19%, occurring on Mar 23, 2023. 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 XP drawdown is -61.45%.

Rank	XP	SPY
#1	-79.19% Sep 2, 2021 - Mar 23, 2023	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-60.55% Feb 20, 2020 - Jun 16, 2020	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-29.90% Sep 1, 2020 - Sep 2, 2021	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-15.01% Jun 23, 2020 - Aug 6, 2020	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-12.96% Aug 6, 2020 - Sep 1, 2020	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-12.15% Jan 22, 2020 - Feb 19, 2020	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-9.48% Dec 20, 2019 - Jan 21, 2020	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-9.04% Dec 13, 2019 - Dec 18, 2019	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-3.39% Jun 18, 2020 - Jun 23, 2020	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-0.89% Dec 18, 2019 - Dec 20, 2019	-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 XP and SPY is -0.51 which considered as a moderate negative correlation - the stocks show some tendency to move in opposite directions.

-0.51

-101

Dividend Comparison (1999 - 2026)

XP vs SPY dividend yield comparison.

Year	XP	SPY
2026	0.00%	0.24%
2025	1.10%	1.07%
2024	5.49%	1.21%
2023	5.02%	1.40%
2022	0.00%	1.65%
2021	0.00%	1.20%
2020	0.00%	1.52%
2019	0.00%	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%