Analysis for SPDR S&P 500 ETF Trust (SPY)
Description & usage
SPDR S&P 500 ETF Trust physically tracks the S&P 500 and provides broad exposure to large US equities. SPY is among the most liquid ETFs globally and is used for both long-term allocation and tactical trading. Its value proposition is transparency, tight tradability, and efficient access to US equity beta. Key drivers are US valuation levels, index concentration, and fund flow dynamics.
Basic info
- Symbol
- SPY
- Type
- ETF
- Region
- US
- Sector
- Diversified
- Available history
- 11.2 years
- Last trading day
- 04/02/2026
- TER
- 0.1 %
Basic info
- Symbol
- SPY
- Type
- ETF
- Region
- US
- Sector
- Diversified
- Available history
- 11.2 years
- Last trading day
- 04/02/2026
- TER
- 0.1 %
Market context
- DXY
- 120.89
- US 10Y Real
- 1.99%
- Fed Balance
- $6.68T
- CPI YoY
- 2.4%
- Fed Rate
- 3.75%
- US 10Y
- 4.35%
- VIX
- 24.54
- HY OAS
- 3.17%
- Brent
- $121.88
- Core CPI
- 2.5%
- US 2Y
- 3.84%
- ISM PMI
- –
Score overview
The overall score combines Performance, Stability and Trend into one comparable value.
Market context
- DXY
- 120.89
- US 10Y Real
- 1.99%
- Fed Balance
- $6.68T
- CPI YoY
- 2.4%
- Fed Rate
- 3.75%
- US 10Y
- 4.35%
- VIX
- 24.54
- HY OAS
- 3.17%
- Brent
- $121.88
- Core CPI
- 2.5%
- US 2Y
- 3.84%
- ISM PMI
- –
Analysis summary
Technical asset picture
SPDR S&P 500 ETF Trust (SPY) (SPY) currently has a total score of 68 points, placing it in the strong range. The score is made up of Performance (71), Stability (79) and Trend (44). The profile is clearly uneven: Stability stands out while Trend is more neutral.
Performance scores 71 points (strong). Key strength: 10Y return at 275.8 %. Main drag: 1Y return at 16.9 %. This suggests stronger long-term than short-term performance.
Stability scores 79 points (strong). Best-ranked metric: max drawdown (3Y) at -18.8 %. Main drag: Sharpe ratio (90d) at 0.06. Higher Stability points are better and typically reflect calmer swings and smaller drawdowns-but prices can still fall.
Trend scores 44 points (neutral). Most supportive metric: 12M momentum at 22.1 %. Weaker metric: trend strength at -0.50.
Overall, the profile has a clear strength in Stability, while Trend is the main limiter. On a metric level, max drawdown (3Y) stands out, while trend strength is the main weak spot.
Current market backdrop
The backdrop currently looks mixed and rather restrictive.
A strong US dollar currently paints a mixed risk picture.
High US real yields and elevated long yields lean toward a restrictive rate backdrop.
What that typically means here
For this asset type, the current backdrop looks mixed rather than clearly directional.
Note: ISM PMI was not used actively in the effect logic.
Historical evaluation and qualitative market context only, not investment advice.
Price chart
Use the chart to read recent price behavior before drilling into metrics.
Scores and metrics
Explore the overall score, the three pillar scores, and the metrics behind them.