HOG vs SPY: Harley-Davidson Inc. vs SPDR S&P 500 ETF Trust Historical Returns & Investment Comparison
This HOG vs SPY comparison analyzes the historical stock performance of Harley-Davidson Inc. and SPDR S&P 500 ETF Trust side-by-side. Using real, adjusted market data, this tool shows how identical investments in both stocks would have performed over time—highlighting differences in returns, volatility, and consistency across market cycles.
Use the interactive calculator below to adjust the investment amount and time period, visualizing how Harley-Davidson Inc. and SPDR S&P 500 ETF Trust have historically performed against each other.
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Performance Summary
$10,000 invested from 1986 to 2025 (40 years)
Head-to-Head Record
Over the 33-year comparison period, Harley-Davidson Inc. outperformed SPDR S&P 500 ETF Trust in 17 years, while SPDR S&P 500 ETF Trust outperformed Harley-Davidson Inc. in 16 years.
HOG - Harley-Davidson Inc.
SPY - SPDR S&P 500 ETF Trust
Overall Winner: HOG with an average annual return of 17.83% (vs 11.71% for SPY)
Understanding HOG vs SPY Performance
When comparing Harley-Davidson Inc. and SPDR S&P 500 ETF Trust, investors should consider multiple factors beyond just total returns. Volatility, consistency of growth, dividend payments, and sector-specific risks all play crucial roles in determining which stock might be better suited for your investment strategy and risk tolerance.
Historical performance data shows how each stock responded to market downturns, economic expansions, and company-specific events. While past performance doesn't guarantee future results, understanding these patterns can help inform investment decisions and portfolio allocation strategies.
Cumulative Growth Comparison
A $10,000 investment in Harley-Davidson Inc. grew to $972,954, compared to $250,597 for SPDR S&P 500 ETF Trust over the same period.
Year-by-Year Comparison
| Year | HOG Return | HOG Cumulative | SPY Return | SPY Cumulative | Difference | Winner |
|---|---|---|---|---|---|---|
| 1986 (Start) | - | $10,000.00 | - | $10,000.00 | - | Initial Investment |
| 1987 | -4.55% | $9,545.46 | - | - | - | Tie |
| 1988 | +20.93% | $11,543.34 | - | - | - | Tie |
| 1989 | +81.25% | $20,922.30 | - | - | - | Tie |
| 1990 | +52.43% | $31,891.28 | - | - | - | Tie |
| 1991 | -1.91% | $31,281.87 | - | - | - | Tie |
| 1992 | +130.97% | $72,251.06 | - | - | - | Tie |
| 1993 | +70.06% | $122,867.60 | - | - | - | Tie |
| 1994 | +19.21% | $146,467.67 | +8.71% | $10,870.91 | +10.50% (HOG) | HOG |
| 1995 | +27.47% | $186,704.53 | +0.67% | $10,943.47 | +26.80% (HOG) | HOG |
| 1996 | +6.71% | $199,231.88 | +37.39% | $15,035.16 | -30.68% (SPY) | SPY |
| 1997 | +65.79% | $330,311.18 | +21.20% | $18,223.19 | +44.59% (HOG) | HOG |
| 1998 | +21.13% | $400,118.54 | +33.14% | $24,261.81 | -12.00% (SPY) | SPY |
| 1999 | +74.25% | $697,199.30 | +28.03% | $31,063.11 | +46.22% (HOG) | HOG |
| 2000 | +36.18% | $949,477.68 | +20.66% | $37,482.18 | +15.52% (HOG) | HOG |
| 2001 | +27.64% | $1,211,938.94 | -8.85% | $34,165.23 | +36.49% (HOG) | HOG |
| 2002 | +44.70% | $1,753,687.33 | -10.13% | $30,703.75 | +54.83% (HOG) | HOG |
| 2003 | -14.56% | $1,498,318.66 | -22.42% | $23,820.14 | +7.86% (HOG) | HOG |
| 2004 | -0.79% | $1,486,485.02 | +24.18% | $29,580.86 | -24.97% (SPY) | SPY |
| 2005 | +29.60% | $1,926,496.04 | +10.75% | $32,760.13 | +18.85% (HOG) | HOG |
| 2006 | -13.00% | $1,676,128.24 | +5.32% | $34,504.59 | -18.32% (SPY) | SPY |
| 2007 | +39.38% | $2,336,243.81 | +13.84% | $39,281.03 | +25.54% (HOG) | HOG |
| 2008 | -32.06% | $1,587,319.56 | +5.33% | $41,375.53 | -37.39% (SPY) | SPY |
| 2009 | -61.14% | $616,861.41 | -36.24% | $26,382.38 | -24.90% (SPY) | SPY |
| 2010 | +40.33% | $865,644.21 | +22.65% | $32,359.23 | +17.68% (HOG) | HOG |
| 2011 | +38.07% | $1,195,168.37 | +13.14% | $36,610.39 | +24.93% (HOG) | HOG |
| 2012 | +12.65% | $1,346,415.49 | +0.85% | $36,922.44 | +11.80% (HOG) | HOG |
| 2013 | +25.85% | $1,694,471.58 | +14.17% | $42,154.69 | +11.68% (HOG) | HOG |
| 2014 | +40.48% | $2,380,392.16 | +29.00% | $54,380.19 | +11.48% (HOG) | HOG |
| 2015 | -2.27% | $2,326,380.78 | +14.56% | $62,298.86 | -16.83% (SPY) | SPY |
| 2016 | -29.43% | $1,641,791.32 | +1.29% | $63,101.60 | -30.72% (SPY) | SPY |
| 2017 | +32.02% | $2,167,445.47 | +13.59% | $71,674.43 | +18.43% (HOG) | HOG |
| 2018 | -11.20% | $1,924,597.62 | +20.78% | $86,569.38 | -31.99% (SPY) | SPY |
| 2019 | -32.11% | $1,306,532.25 | -5.25% | $82,026.91 | -26.87% (SPY) | SPY |
| 2020 | +13.75% | $1,486,166.19 | +31.09% | $107,527.02 | -17.34% (SPY) | SPY |
| 2021 | +0.46% | $1,493,022.02 | +17.24% | $126,059.55 | -16.77% (SPY) | SPY |
| 2022 | +5.88% | $1,580,758.80 | +30.51% | $164,514.60 | -24.63% (SPY) | SPY |
| 2023 | +12.10% | $1,772,106.05 | -18.65% | $133,838.54 | +30.75% (HOG) | HOG |
| 2024 | -8.71% | $1,617,762.05 | +26.71% | $169,585.78 | -35.42% (SPY) | SPY |
| 2025 | -15.34% | $1,369,608.50 | +25.59% | $212,981.61 | -40.93% (SPY) | SPY |
| 2026 | -28.96% | $972,953.87 | +17.66% | $250,597.02 | -46.62% (SPY) | SPY |
Annual returns include dividends and stock splits. Cumulative values show growth of $10,000 invested from the first year. Positive difference means HOG outperformed SPY that year.
Company Profiles
Harley-Davidson Inc.
HOG
Harley-Davidson Inc. is an American manufacturer of motorcycles and related products. The company designs, manufactures, and sells heavyweight cruiser and touring motorcycles, as well as a complete line of motorcycle parts, accessories, general merchandise, riding gear, and apparel. Harley-Davidson also provides financial services through Harley-Davidson Financial Services. The brand is iconic globally, known for its distinctive styling, sound, and culture.
Key Innovations
- ✓Pioneered the American V-twin cruiser motorcycle, creating a distinctive style and riding experience that has defined a genre.
- ✓Cultivated a strong brand loyalty and rider community, extending beyond just motorcycles to a lifestyle and cultural phenomenon.
Business Segments
- Motorcycles and Related ProductsDesigns, manufactures, and sells a range of motorcycles, parts, accessories, and general merchandise.
- Financial ServicesProvides wholesale and retail financing and insurance programs to Harley-Davidson dealers and customers.
SPDR S&P 500 ETF Trust
SPY
SPY is the first exchange-traded fund (ETF) listed in the US. It is designed to track the S&P 500 Index, which measures the performance of the large-cap segment of the US equity market.
Key Innovations
- ✓First US-listed ETF
Business Segments
- ETFPassive investment vehicle tracking the S&P 500.
How This Comparison Works
Our stock comparison tool uses adjusted closing prices to calculate year-by-year returns for both stocks. This ensures an apples-to-apples comparison that accounts for:
- ✓Dividends: All dividend payments are reinvested
- ✓Stock splits: Historical prices are adjusted for all splits
- ✓Head-to-head record: Shows which stock outperformed each year
- ✓Statistical analysis: Average returns, best/worst years, and win rates
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Important Disclaimer
This comparison tool is for educational and informational purposes only and does not constitute financial, investment, or trading advice. Past performance is not indicative of future results. Historical returns include dividends and stock splits but do not account for taxes, fees, inflation, or individual circumstances. Stock market investments carry risk, including the potential loss of principal. Always consult with a qualified financial advisor before making investment decisions. The data presented is based on historical market data and may contain inaccuracies or delays.