SPX500THE MARKET
S&P 500BENCHMARK · SPY ETF TOTAL RETURN+14.7%10Y ANNUALIZED RETURN
5Y / YEAR+14.3%1Y SEASON+17.7%
EVERY ARENA HAS ITS STANDARD
The one to beat.
No star manager. No bold forecasts.
Just the S&P 500, represented here
by the SPY ETF.
TEN YEARS. ONE STARTING LINE.
$10,000 INVESTED AT THE START OF 2016$39,468at the end of 2025, dividends reinvested.
Every contender faces the same dates
and the same benchmark. The card frame
reflects 10-year outperformance.
THE CONTENDERS
34 INVESTOR PROFILESGreat names. Earned ranks.
20 RANKED · 14 UNRANKED
The faces you know. The records behind them. Explore 34 investors, with 20 ten-year records in the ranking.
COMMON
Warren BuffettBERKSHIRE · MARKET VALUE+14.3%10Y ANNUALIZED−0.38VS SPYMAX DRAWDOWN−30.4%1Y SEASON Common+10.9%−6.82 ppRANK 06 / 20RARE
Cathie WoodARKK · NAV+15.0%10Y ANNUALIZED+0.31VS SPYMAX DRAWDOWN−80.9%1Y SEASON Legendary+35.6%+17.86 ppRANK 05 / 20EPIC
Bill AckmanPSH · NAV+15.8%10Y ANNUALIZED+1.08VS SPYMAX DRAWDOWN−26.5%1Y SEASON Rare+20.9%+3.18 ppRANK 03 / 20UNRANKEDPhoto unavailableMichael BurryScionThe Big ShortVIEW PROFILE UNRANKED
Ray DalioBridgewaterPrinciples. Global macro.VIEW PROFILE UNRANKED
Jim CramerCNBC · Charitable TrustThe face of Mad MoneyVIEW PROFILE COMMONPhoto unavailableDan LoebTHIRD POINT OFFSHORE · NET+7.5%10Y ANNUALIZED−7.17VS SPYMAX DRAWDOWN—1Y SEASON Common+8.9%−8.82 ppRANK 17 / 20COMMON
Mohnish PabraiPABRAI FUND 3 · NET+11.4%10Y ANNUALIZED−3.29VS SPYMAX DRAWDOWN—1Y SEASON Common−20.0%−37.72 ppRANK 10 / 20COMMONPhoto unavailableTerry SmithFUNDSMITH T ACC · USD+10.8%10Y ANNUALIZED−3.87VS SPYMAX DRAWDOWN−32.8%1Y SEASON Common+8.2%−9.56 ppRANK 12 / 20COMMONPhoto unavailableMario GabelliGABAX · CLASS AAA NAV+9.6%10Y ANNUALIZED−5.14VS SPYMAX DRAWDOWN−36.6%1Y SEASON Common+16.7%−0.98 ppRANK 13 / 20EPICPhoto unavailableWill DanoffFCNTX · FUND NAV+16.8%10Y ANNUALIZED+2.11VS SPYMAX DRAWDOWN−32.6%1Y SEASON Unrated+21.8%+4.04 ppRANK 02 / 20COMMON
Cliff AsnessQLEIX · CO-MANAGED NAV+12.3%10Y ANNUALIZED−2.44VS SPYMAX DRAWDOWN−39.2%1Y SEASON Legendary+34.4%+16.71 ppRANK 08 / 20COMMONPhoto unavailableBruce BerkowitzFAIRX · FUND NAV+8.9%10Y ANNUALIZED−5.81VS SPYMAX DRAWDOWN−41.5%1Y SEASON Legendary+29.5%+11.77 ppRANK 16 / 20EPIC
Prem WatsaFAIRFAX · SHAREHOLDERS USD+17.2%10Y ANNUALIZED+2.50VS SPYMAX DRAWDOWN−59.3%1Y SEASON Legendary+38.5%+20.83 ppRANK 01 / 20COMMONPhoto unavailableTom GaynerMKL · SHAREHOLDER RETURN+9.3%10Y ANNUALIZED−5.42VS SPYMAX DRAWDOWN−44.7%1Y SEASON Epic+24.5%+6.81 ppRANK 15 / 20COMMONPhoto unavailableJohn HussmanHSGFX · FUND NAV−2.2%10Y ANNUALIZED−16.94VS SPYMAX DRAWDOWN−30.9%1Y SEASON Common+6.2%−11.48 ppRANK 19 / 20COMMONPhoto unavailableBill NygrenOAKMX · CO-MANAGED NAV+13.7%10Y ANNUALIZED−1.00VS SPYMAX DRAWDOWN−41.4%1Y SEASON Common+14.1%−3.59 ppRANK 07 / 20COMMONPhoto unavailableChris DavisNYVTX · CLASS A NAV+12.1%10Y ANNUALIZED−2.63VS SPYMAX DRAWDOWN−37.0%1Y SEASON Epic+26.8%+9.11 ppRANK 09 / 20COMMON
John Rogers Jr.ARGFX · INVESTOR NAV+9.5%10Y ANNUALIZED−5.20VS SPYMAX DRAWDOWN−45.3%1Y SEASON Common+14.1%−3.64 ppRANK 14 / 20COMMONPhoto unavailableDavid HerroOAKIX · CO-MANAGED NAV+6.8%10Y ANNUALIZED−7.93VS SPYMAX DRAWDOWN−53.1%1Y SEASON Legendary+32.4%+14.68 ppRANK 18 / 20UNRANKED
Peter LynchFidelity · Magellan eraInvest in what you knowVIEW PROFILE UNRANKED
Charlie MungerBerkshire · historical profileBuffett’s longtime partnerVIEW PROFILE UNRANKED
George SorosQuantum · historical profileThe Quantum Fund nameVIEW PROFILE UNRANKED
Kevin O’LearyO’Shares · associated ETFShark Tank’s Mr. WonderfulVIEW PROFILE UNRANKED
Ken GriffinCitadelThe name behind CitadelVIEW PROFILE UNRANKED
Stanley DruckenmillerDuquesneThe macro investor’s investorVIEW PROFILE UNRANKED
Jim SimonsRenaissance · historical profileThe quantitative pioneerVIEW PROFILE UNRANKED
Howard MarksOaktreeThe memos investors readVIEW PROFILE UNRANKED
Paul Tudor JonesTudorA Wall Street trading nameVIEW PROFILE UNRANKEDPhoto unavailableDavid EinhornGreenlight CapitalHigh-profile short battlesVIEW PROFILE UNRANKEDPhoto unavailableRon BaronBaron Partners FundTesla. SpaceX. Conviction.VIEW PROFILE RAREPhoto unavailableJoel GreenblattGINDX · CO-MANAGED+15.4%10Y ANNUALIZED+0.67VS SPYMAX DRAWDOWN−33.7%1Y SEASON Epic+22.3%+4.57 ppRANK 04 / 20COMMON
Peter SchiffEPIVX · AFFILIATED FUND+11.4%10Y ANNUALIZED−3.36VS SPYMAX DRAWDOWN−32.2%1Y SEASON Legendary+47.2%+29.43 ppRANK 11 / 20COMMONPhoto unavailableCarl IcahnICAHN FUNDS · COMPOSITE−6.7%10Y ANNUALIZED−21.44VS SPYMAX DRAWDOWN—1Y SEASON Common+0.4%−17.32 ppRANK 20 / 20
Warren BuffettBERKSHIRE · MARKET VALUE+14.3%10Y ANNUALIZED−0.38VS SPYMAX DRAWDOWN−30.4%1Y SEASON Common+10.9%−6.82 ppRANK 06 / 20RARECathie WoodARKK · NAV+15.0%10Y ANNUALIZED+0.31VS SPYMAX DRAWDOWN−80.9%1Y SEASON Legendary+35.6%+17.86 ppRANK 05 / 20EPICBill AckmanPSH · NAV+15.8%10Y ANNUALIZED+1.08VS SPYMAX DRAWDOWN−26.5%1Y SEASON Rare+20.9%+3.18 ppRANK 03 / 20UNRANKEDPhoto unavailableMichael BurryScionThe Big ShortVIEW PROFILE UNRANKEDRay DalioBridgewaterPrinciples. Global macro.VIEW PROFILE UNRANKEDJim CramerCNBC · Charitable TrustThe face of Mad MoneyVIEW PROFILE COMMONPhoto unavailableDan LoebTHIRD POINT OFFSHORE · NET+7.5%10Y ANNUALIZED−7.17VS SPYMAX DRAWDOWN—1Y SEASON Common+8.9%−8.82 ppRANK 17 / 20COMMONMohnish PabraiPABRAI FUND 3 · NET+11.4%10Y ANNUALIZED−3.29VS SPYMAX DRAWDOWN—1Y SEASON Common−20.0%−37.72 ppRANK 10 / 20COMMONPhoto unavailableTerry SmithFUNDSMITH T ACC · USD+10.8%10Y ANNUALIZED−3.87VS SPYMAX DRAWDOWN−32.8%1Y SEASON Common+8.2%−9.56 ppRANK 12 / 20COMMONPhoto unavailableMario GabelliGABAX · CLASS AAA NAV+9.6%10Y ANNUALIZED−5.14VS SPYMAX DRAWDOWN−36.6%1Y SEASON Common+16.7%−0.98 ppRANK 13 / 20EPICPhoto unavailableWill DanoffFCNTX · FUND NAV+16.8%10Y ANNUALIZED+2.11VS SPYMAX DRAWDOWN−32.6%1Y SEASON Unrated+21.8%+4.04 ppRANK 02 / 20COMMONCliff AsnessQLEIX · CO-MANAGED NAV+12.3%10Y ANNUALIZED−2.44VS SPYMAX DRAWDOWN−39.2%1Y SEASON Legendary+34.4%+16.71 ppRANK 08 / 20COMMONPhoto unavailableBruce BerkowitzFAIRX · FUND NAV+8.9%10Y ANNUALIZED−5.81VS SPYMAX DRAWDOWN−41.5%1Y SEASON Legendary+29.5%+11.77 ppRANK 16 / 20EPICPrem WatsaFAIRFAX · SHAREHOLDERS USD+17.2%10Y ANNUALIZED+2.50VS SPYMAX DRAWDOWN−59.3%1Y SEASON Legendary+38.5%+20.83 ppRANK 01 / 20COMMONPhoto unavailableTom GaynerMKL · SHAREHOLDER RETURN+9.3%10Y ANNUALIZED−5.42VS SPYMAX DRAWDOWN−44.7%1Y SEASON Epic+24.5%+6.81 ppRANK 15 / 20COMMONPhoto unavailableJohn HussmanHSGFX · FUND NAV−2.2%10Y ANNUALIZED−16.94VS SPYMAX DRAWDOWN−30.9%1Y SEASON Common+6.2%−11.48 ppRANK 19 / 20COMMONPhoto unavailableBill NygrenOAKMX · CO-MANAGED NAV+13.7%10Y ANNUALIZED−1.00VS SPYMAX DRAWDOWN−41.4%1Y SEASON Common+14.1%−3.59 ppRANK 07 / 20COMMONPhoto unavailableChris DavisNYVTX · CLASS A NAV+12.1%10Y ANNUALIZED−2.63VS SPYMAX DRAWDOWN−37.0%1Y SEASON Epic+26.8%+9.11 ppRANK 09 / 20COMMONJohn Rogers Jr.ARGFX · INVESTOR NAV+9.5%10Y ANNUALIZED−5.20VS SPYMAX DRAWDOWN−45.3%1Y SEASON Common+14.1%−3.64 ppRANK 14 / 20COMMONPhoto unavailableDavid HerroOAKIX · CO-MANAGED NAV+6.8%10Y ANNUALIZED−7.93VS SPYMAX DRAWDOWN−53.1%1Y SEASON Legendary+32.4%+14.68 ppRANK 18 / 20UNRANKEDPeter LynchFidelity · Magellan eraInvest in what you knowVIEW PROFILE UNRANKEDCharlie MungerBerkshire · historical profileBuffett’s longtime partnerVIEW PROFILE UNRANKEDGeorge SorosQuantum · historical profileThe Quantum Fund nameVIEW PROFILE UNRANKEDKevin O’LearyO’Shares · associated ETFShark Tank’s Mr. WonderfulVIEW PROFILE UNRANKEDKen GriffinCitadelThe name behind CitadelVIEW PROFILE UNRANKEDStanley DruckenmillerDuquesneThe macro investor’s investorVIEW PROFILE UNRANKEDJim SimonsRenaissance · historical profileThe quantitative pioneerVIEW PROFILE UNRANKEDHoward MarksOaktreeThe memos investors readVIEW PROFILE UNRANKEDPaul Tudor JonesTudorA Wall Street trading nameVIEW PROFILE UNRANKEDPhoto unavailableDavid EinhornGreenlight CapitalHigh-profile short battlesVIEW PROFILE UNRANKEDPhoto unavailableRon BaronBaron Partners FundTesla. SpaceX. Conviction.VIEW PROFILE RAREPhoto unavailableJoel GreenblattGINDX · CO-MANAGED+15.4%10Y ANNUALIZED+0.67VS SPYMAX DRAWDOWN−33.7%1Y SEASON Epic+22.3%+4.57 ppRANK 04 / 20COMMONPeter SchiffEPIVX · AFFILIATED FUND+11.4%10Y ANNUALIZED−3.36VS SPYMAX DRAWDOWN−32.2%1Y SEASON Legendary+47.2%+29.43 ppRANK 11 / 20COMMONPhoto unavailableCarl IcahnICAHN FUNDS · COMPOSITE−6.7%10Y ANNUALIZED−21.44VS SPYMAX DRAWDOWN—1Y SEASON Common+0.4%−17.32 ppRANK 20 / 201 of 34Swipe to explore
Select a card to explore its record or profile.10Y frame ◆ 10Y drawdown ◆ 1Y season
THE BATTLE RECORD
Let the numbers settle it.
Growth of $10,0002016–2025 · Annual observations
SPY ETFPSH · NAV
2016–2025 · SPY $39,468 · PSH $43,348
Consistency, risk & the full record
5 of six rolling five-year windows ahead of SPY. Annualized gaps, with windows ending each December:
2016–2020+2.19 pp/yr2017–2021+8.28 pp/yr2018–2022+16.02 pp/yr2019–2023+16.00 pp/yr2020–2024+7.97 pp/yr2021–2025−0.01 pp/yr
These windows overlap; they are not independent tests of skill. Figures are approximate. The frame always uses the full ten-year result.
Drawdown data. The investor profile shows daily maximum drawdown where a matching adjusted history is available. Otherwise, it labels the year-end estimate explicitly; annual observations miss losses within a year.
PSH NAV returns include leverage and the effects of its structure and buybacks. They differ from the returns of its traded shares. The five-year rarity is Unrated because rounded source data cannot establish which side of zero the gap falls on.
Data basis. Compounded from published calendar-year returns. Figures are approximate because the source observations are rounded.
Published performance record ↗
| Year | PSH · NAV | SPY ETF |
|---|---|---|
| 2016 | −13.50% | +12.00% |
| 2017 | −4.00% | +21.70% |
| 2018 | −0.70% | −4.57% |
| 2019 | +58.10% | +31.22% |
| 2020 | +70.20% | +18.33% |
| 2021 | +26.90% | +28.73% |
| 2022 | −8.80% | −18.17% |
| 2023 | +26.70% | +26.18% |
| 2024 | +10.20% | +24.89% |
| 2025 | +20.90% | +17.72% |
THE LONG GAME · TOP FIVE
10-YEAR ANNUALIZED RETURNThe arena, ranked.
JAN 2016 – DEC 2025
One decade. The same benchmark. See who finished ahead.
Prem WatsaFairfax · shareholders USD
Bill AckmanPSH · NAV
Cathie WoodARKK · NAV
The gold line shows SPX, measured using SPY total returns.
Top five of 20 ranked vehicles. Figures are approximate.
THE RULEBOOK
A fair fight. An open record.
01
A decade earns the frame.
The main rank uses 10-year annualized return minus SPY. Cards also show 10-year maximum drawdown and a one-year season badge.
02
The same starting line.
Matched dates. Reinvested distributions. Fund returns after expenses. Every card names the vehicle actually being measured.
03
Rarity follows the record.
Ten verified years qualify for the main arena. Shorter records belong in a separate division. Missing or uncertain data stays Unrated.
10Y RARITY
ANNUALIZED GAP VS SPYLegendary≥3 pp / yearEpic1 to <3 pp / yearRare0 to <1 pp / yearCommonBelow 0 pp / year
ANNUALIZED GAP VS SPYLegendary≥3 pp / yearEpic1 to <3 pp / yearRare0 to <1 pp / yearCommonBelow 0 pp / year
Full grading rules and benchmark designation
These are SPX Arena’s proposed performance tiers, not statistical proof of skill or risk-adjusted grades. The 5Y badge uses the same annualized thresholds. The 1Y season uses Legendary ≥10 pp, Epic ≥4 and <10 pp, Rare ≥0 and <4 pp, and Common <0 pp. A full 10-year record is required for the main rank; 5–9 years qualify only for a separate five-year division.
The S&P 500 card’s Legendary status is a special benchmark designation. It is not an investor rating and has no leaderboard rank. SPX identifies the index; the return figures and comparisons use SPY ETF market-price total returns. SPIVA’s statistics compare active funds with the index itself.
Return-ranking periods end December 31, 2025. Ten years starts December 31, 2015; five years starts December 31, 2020; one year starts December 31, 2024. Full-career results are separate from the main rank. Rounded source data can leave a badge Unrated when it falls too close to a threshold, as with PSH’s five-year result.
Card maximum drawdown is an estimate over the latest ten years available, with observation frequency shown on each card and exact dates in its tooltip and profile disclosure. Daily closes are used where available; PSH uses published weekly NAV returns. The ≈ symbol means approximate. Weekly observations can miss deeper losses between reports. ARKK uses a labeled market-price proxy for its NAV record. Sources and exact windows are linked on investor profiles. Unavailable means a continuous history for the named vehicle has not been established. Profile year-end comparisons retain the selected period through 2025. Drawdown does not affect rank or rarity.