ARDC vs. SPYI
ARDC (Ares Dynamic Credit Allocation Fund, Inc.) is a stock, while SPYI (NEOS S&P 500 High Income ETF) is Derivative Income fund actively managed by Neos. Over the past 3 years, ARDC returned 12.24%/yr vs 15.48%/yr for SPYI. At a 0.39 correlation, their price movements are largely independent.
Performance
ARDC vs. SPYI - Performance Comparison
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Returns By Period
In the year-to-date period, ARDC achieves a -1.07% return, which is significantly lower than SPYI's 6.31% return.
ARDC
- 1D
- 0.24%
- 1M
- -1.38%
- YTD
- -1.07%
- 6M
- -0.45%
- 1Y
- -2.63%
- 3Y*
- 12.24%
- 5Y*
- 4.85%
- 10Y*
- 8.32%
SPYI
- 1D
- 0.53%
- 1M
- -0.01%
- YTD
- 6.31%
- 6M
- 6.98%
- 1Y
- 19.90%
- 3Y*
- 15.48%
- 5Y*
- —
- 10Y*
- —
ARDC vs. SPYI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ARDC Ares Dynamic Credit Allocation Fund, Inc. | -1.07% | -3.10% | 21.05% | 32.35% | -8.73% |
SPYI NEOS S&P 500 High Income ETF | 6.31% | 16.67% | 19.03% | 18.09% | -3.96% |
Correlation
The correlation between ARDC and SPYI is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Aug 30, 2022 | 0.39 |
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Return for Risk
ARDC vs. SPYI — Risk / Return Rank
ARDC
SPYI
ARDC vs. SPYI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ares Dynamic Credit Allocation Fund, Inc. (ARDC) and NEOS S&P 500 High Income ETF (SPYI). 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.
| ARDC | SPYI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.26 | ||
| Sortino ratioReturn per unit of downside risk | -3.01 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.39 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.17 | 2.59 | -2.76 |
| Martin ratioReturn relative to average drawdown | -0.35 | 13.05 | -13.40 |
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Drawdowns
ARDC vs. SPYI - Drawdown Comparison
The maximum ARDC drawdown since its inception was -45.40%, which is greater than SPYI's maximum drawdown of -16.47%. Use the drawdown chart below to compare losses from any high point for ARDC and SPYI.
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Drawdown Indicators
| ARDC | SPYI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.40% | -16.47% | -28.93% |
Max Drawdown (1Y)Largest decline over 1 year | -15.57% | -7.72% | -7.85% |
Max Drawdown (3Y)Largest decline over 3 years | -19.78% | -16.47% | -3.31% |
Max Drawdown (5Y)Largest decline over 5 years | -26.48% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -45.40% | — | — |
Current DrawdownCurrent decline from peak | -8.60% | -1.79% | -6.81% |
Average DrawdownAverage peak-to-trough decline | -6.64% | -1.81% | -4.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.51% | 1.53% | +5.98% |
Volatility
ARDC vs. SPYI - Volatility Comparison
The current volatility for Ares Dynamic Credit Allocation Fund, Inc. (ARDC) is 2.42%, while NEOS S&P 500 High Income ETF (SPYI) has a volatility of 3.62%. This indicates that ARDC experiences smaller price fluctuations and is considered to be less risky than SPYI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ARDC | SPYI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.42% | 3.62% | -1.20% |
Volatility (6M)Calculated over the trailing 6-month period | 7.13% | 8.07% | -0.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.47% | 10.10% | -0.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.78% | 12.99% | +0.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.86% | 12.99% | +3.87% |
ARDC vs. SPYI - Expense Ratio Comparison
ARDC has a 0.00% expense ratio, which is lower than SPYI's 0.68% expense ratio.
Dividends
ARDC vs. SPYI - Dividend Comparison
ARDC's dividend yield for the trailing twelve months is around 10.72%, less than SPYI's 11.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ARDC Ares Dynamic Credit Allocation Fund, Inc. | 10.72% | 10.19% | 9.33% | 9.85% | 10.31% | 7.16% | 8.40% | 8.40% | 9.35% | 7.58% | 8.45% | 10.51% |
SPYI NEOS S&P 500 High Income ETF | 11.80% | 11.70% | 12.04% | 12.01% | 4.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ARDC and SPYI have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPYI has higher volatility (3.62%) compared to ARDC (2.42%). In terms of maximum drawdown, ARDC dropped -45.40% vs SPYI's -16.47%.
SPYI currently has the higher Sharpe Ratio (1.98 vs -0.28), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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