# Horizen USD (ZENUSD) 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.

Horizen USD (ZENUSD) vs State Street SPDR S&P 500 ETF Trust (SPY) total return over 5Y: ZENUSD -91.25%, SPY +91.36%. Regime ZENUSD CRISIS · SPY BULL. As of Oct 9, 2026. Research only.

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

## Window

| Symbol | Window % | Worst drawdown | YTD |
|---|---:|---:|---:|
| ZENUSD | -91.25% | -97.13% | -31.36% |
| SPY | +91.36% | -24.49% | +14.86% |

## Periods (calendar lookback)

| Symbol | 1Y | 2Y | 3Y | 5Y |
|---|---:|---:|---:|---:|
| ZENUSD | -46.83% | -17.33% | -15.15% | -91.25% |
| SPY | +17.26% | +38.01% | +86.77% | +91.36% |

## Annual

| Year | ZENUSD | SPY |
|---|---:|---:|
| YTD | -31.36% | +14.86% |
| 2025 | -68.56% | +18.01% |
| 2024 | +211.56% | +25.59% |
| 2023 | -3.72% | +26.73% |
| 2022 | -85.65% | -18.64% |
| 2021 | -17.37% | +9.53% |

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Research context only. Not personalized investment advice.