ARKB vs. SPY

Last updated Aug 5, 2026

ARKB (ARK 21Shares Bitcoin ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - ARKB is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past year, ARKB returned -44.16% vs 23.56% for SPY. Their 0.40 correlation means their historical movements had little consistent relationship. ARKB charges 0.21%/yr vs 0.09%/yr for SPY.

Performance

ARKB vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ARK 21Shares Bitcoin ETF (ARKB) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARKB achieves a -26.69% return, which is significantly lower than SPY's 13.71% return.

ARKB

• 1D: 0.57%
• 1M: 4.52%
• 6M: -16.05%
• YTD: -26.69%
• 1Y: -44.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.02%

SPY

• 1D: 1.80%
• 1M: 3.56%
• 6M: 12.46%
• YTD: 13.71%
• 1Y: 23.56%
• 3Y*: 21.46%
• 5Y*: 13.31%
• 10Y*: 15.29%
• ALL TIME*: 10.89%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ARKB ARK 21Shares Bitcoin ETF	$32.37M	$33.70M	$41.78M
SPY State Street SPDR S&P 500 ETF	$40.91B	$36.93B	$39.82B

ARKB vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ARKB ARK 21Shares Bitcoin ETF	-26.69%	-6.59%	86.54%
SPY State Street SPDR S&P 500 ETF	13.71%	17.72%	24.56%

Correlation

The correlation between ARKB and SPY is 0.47, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.47
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.40

Return for Risk

ARKB vs. SPY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ARKB

ARKB Risk / Return Rank: 2
ARKB Sharpe Ratio Rank: 2
ARKB Sortino Ratio Rank: 2
ARKB Omega Ratio Rank: 2
ARKB Calmar Ratio Rank: 2
ARKB Martin Ratio Rank: 2

SPY

SPY Risk / Return Rank: 72
SPY Sharpe Ratio Rank: 71
SPY Sortino Ratio Rank: 70
SPY Omega Ratio Rank: 70
SPY Calmar Ratio Rank: 68
SPY Martin Ratio Rank: 79

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ARKB vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ARK 21Shares Bitcoin ETF (ARKB) and State Street SPDR S&P 500 ETF (SPY). 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.

	ARKB	SPY	Difference
Sharpe ratio: Return per unit of total volatility	-1.00	1.84	-2.84
Sortino ratio: Return per unit of downside risk	-1.48	2.54	-4.01
Omega ratio: Gain probability vs. loss probability	0.84	1.33	-0.49
Calmar ratio: Return relative to maximum drawdown	-0.83	2.66	-3.49
Martin ratio: Return relative to average drawdown	-1.27	11.36	-12.63

ARKB vs. SPY - Sharpe Ratio Comparison

The current ARKB Sharpe Ratio is -1.00, which is lower than the SPY Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of ARKB and SPY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ARKB vs. SPY - Drawdown Comparison

The maximum ARKB drawdown since its inception was -53.33%, roughly equal to the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for ARKB and SPY.

Drawdown Indicators

	ARKB	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-53.33%	-55.19%	+1.86%
Max Drawdown (1Y) Largest decline over 1 year	-53.33%	-8.88%	-44.45%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.76%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-48.94%	0.00%	-48.94%
Average Drawdown Average peak-to-trough decline	-18.36%	-9.01%	-9.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.90%	2.08%	+32.82%

Volatility

ARKB vs. SPY - Volatility Comparison

ARK 21Shares Bitcoin ETF (ARKB) has a higher volatility of 8.21% compared to State Street SPDR S&P 500 ETF (SPY) at 4.13%. This indicates that ARKB's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARKB	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.21%	4.13%	+4.08%
Volatility (6M) Calculated over the trailing 6-month period	32.98%	10.36%	+22.62%
Volatility (1Y) Calculated over the trailing 1-year period	44.25%	12.96%	+31.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.36%	17.21%	+32.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.36%	17.97%	+31.39%

ARKB vs. SPY - Expense Ratio Comparison

ARKB has a 0.21% expense ratio, which is higher than SPY's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ARKB vs. SPY - Dividend Comparison

ARKB has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 0.98%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARKB ARK 21Shares Bitcoin ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	0.98%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both ARKB and SPY in my portfolio?

ARKB and SPY have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARKB or SPY?

ARKB has higher volatility (8.21%) compared to SPY (4.13%). In terms of maximum drawdown, ARKB dropped -53.33% vs SPY's -55.19%.

Which ETF is better, ARKB or SPY?

On 1-year performance, SPY leads with 23.56% vs -44.16% for ARKB. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 4.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ARKB or SPY?

Over the 1-year period, SPY has performed better with a 23.56% return vs -44.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ARKB or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.21% for ARKB.

Which ETF pays a higher dividend yield, ARKB or SPY?

SPY has the higher dividend yield at 0.98%, compared with 0.00% for ARKB.

What is the main difference between ARKB and SPY?

ARKB is categorized as Cryptocurrency, while SPY is S&P 500. ARKB tracks CME CF Bitcoin Reference Rate - New York Variant, while SPY tracks S&P 500 Index. They also come from different issuers: ARK and State Street. Their fees differ too: 0.21% for ARKB and 0.09% for SPY.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (1.84 vs -1.00), 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.