# Pendle USD (PENDLEUSD) vs State Street SPDR S&P 500 ETF Trust (SPY) · total-return overlay

LOPJLB holding-return compare (5Y). Dividends and splits. Each path starts at 0% from the first adjusted close in the window.

Pendle USD (PENDLEUSD) vs State Street SPDR S&P 500 ETF Trust (SPY) total return over 5Y: PENDLEUSD +290.97%, SPY +92.05%. Regime PENDLEUSD CRISIS · SPY BULL. As of Oct 9, 2026. Research only.

- Interactive: https://www.lopjlb.com/vs/PENDLEUSD/SPY
- API: `GET /bff/api/bigfive/compare-series?symbols=PENDLEUSD%2CSPY&range=5y`

## Window

| Symbol | Window % | Worst drawdown | YTD |
|---|---:|---:|---:|
| PENDLEUSD | +290.97% | -96.47% | +4.77% |
| SPY | +92.05% | -24.49% | +14.86% |

## Periods (calendar lookback)

| Symbol | 1Y | 2Y | 3Y | 5Y |
|---|---:|---:|---:|---:|
| PENDLEUSD | -53.32% | -43.03% | +224.90% | +290.97% |
| SPY | +17.26% | +38.01% | +86.77% | +92.05% |

## Annual

| Year | PENDLEUSD | SPY |
|---|---:|---:|
| YTD | +4.77% | +14.86% |
| 2025 | -62.90% | +18.01% |
| 2024 | +286.44% | +25.59% |
| 2023 | +2484.75% | +26.73% |
| 2022 | -82.91% | -18.64% |
| 2021 | -55.01% | +9.92% |

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Research context only. Not personalized investment advice.