AFOS vs. SPCT

Last updated Jul 15, 2026

AFOS (ARS Focused Opportunities Strategy ETF) and SPCT (Liberty One Spectrum ETF) are both Large Cap Blend Equities funds. At a 0.31 correlation, their price movements are largely independent. AFOS charges 0.45%/yr vs 0.85%/yr for SPCT.

Performance

AFOS vs. SPCT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ARS Focused Opportunities Strategy ETF (AFOS) and Liberty One Spectrum ETF (SPCT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AFOS achieves a 30.98% return, which is significantly higher than SPCT's 8.90% return.

AFOS

• 1D: 1.51%
• 1M: 1.47%
• 6M: 22.53%
• YTD: 30.98%
• 1Y: 71.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPCT

• 1D: -0.13%
• 1M: 0.99%
• 6M: 6.70%
• YTD: 8.90%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AFOS vs. SPCT - Yearly Performance Comparison

	2026 (YTD)	2025
AFOS ARS Focused Opportunities Strategy ETF	30.98%	14.08%
SPCT Liberty One Spectrum ETF	8.90%	1.93%

Correlation

The correlation between AFOS and SPCT is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 30, 2025	0.31

Return for Risk

AFOS vs. SPCT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AFOS

AFOS Risk / Return Rank: 95
AFOS Sharpe Ratio Rank: 96
AFOS Sortino Ratio Rank: 94
AFOS Omega Ratio Rank: 93
AFOS Calmar Ratio Rank: 95
AFOS Martin Ratio Rank: 96

SPCT

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AFOS vs. SPCT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ARS Focused Opportunities Strategy ETF (AFOS) and Liberty One Spectrum ETF (SPCT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AFOS	SPCT	Difference
Sharpe ratio: Return per unit of total volatility	3.25	—	—
Sortino ratio: Return per unit of downside risk	3.94	—	—
Omega ratio: Gain probability vs. loss probability	1.52	—	—
Calmar ratio: Return relative to maximum drawdown	6.24	—	—
Martin ratio: Return relative to average drawdown	27.13	—	—

Drawdowns

AFOS vs. SPCT - Drawdown Comparison

The maximum AFOS drawdown since its inception was -11.52%, which is greater than SPCT's maximum drawdown of -7.17%. Use the drawdown chart below to compare losses from any high point for AFOS and SPCT.

Drawdown Indicators

	AFOS	SPCT	Difference
Max Drawdown Largest peak-to-trough decline	-11.52%	-7.17%	-4.35%
Max Drawdown (1Y) Largest decline over 1 year	-11.52%	—	—
Current Drawdown Current decline from peak	-4.24%	-0.49%	-3.75%
Average Drawdown Average peak-to-trough decline	-1.54%	-1.50%	-0.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	—	—

Volatility

Volatility by Period

	AFOS	SPCT	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.31%	—	—
Volatility (6M) Calculated over the trailing 6-month period	18.40%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	22.12%	9.26%	+12.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.75%	9.26%	+12.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.75%	9.26%	+12.49%

AFOS vs. SPCT - Expense Ratio Comparison

AFOS has a 0.45% expense ratio, which is lower than SPCT's 0.85% expense ratio.

Dividends

AFOS vs. SPCT - Dividend Comparison

AFOS's dividend yield for the trailing twelve months is around 0.23%, less than SPCT's 0.74% yield.

Position	TTM	2025
AFOS ARS Focused Opportunities Strategy ETF	0.23%	0.30%
SPCT Liberty One Spectrum ETF	0.74%	0.16%

Frequently Asked Questions

Can I hold both AFOS and SPCT in my portfolio?

AFOS and SPCT have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AFOS or SPCT?

On fees, AFOS is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AFOS or SPCT?

AFOS is cheaper with a 0.45% expense ratio, compared with 0.85% for SPCT.

Which ETF pays a higher dividend yield, AFOS or SPCT?

SPCT has the higher dividend yield at 0.74%, compared with 0.23% for AFOS.

What is the main difference between AFOS and SPCT?

They also come from different issuers: ARS Investment Partners and Liberty One. Their fees differ too: 0.45% for AFOS and 0.85% for SPCT.