ARKW vs. SPY

Last updated Aug 2, 2026

ARKW (ARK Next Generation Internet ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - ARKW is a Mid Cap Growth Equities fund actively managed by ARK, while SPY is a S&P 500 fund tracking the S&P 500 Index. ARKW is actively managed, while SPY is passively managed. Over the past 10 years, ARKW returned 21.15%/yr vs 15.07%/yr for SPY. Their 0.69 correlation means they have sometimes moved together and sometimes differently. ARKW charges 0.76%/yr vs 0.09%/yr for SPY.

Performance

ARKW vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ARK Next Generation Internet ETF (ARKW) 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, ARKW achieves a -7.37% return, which is significantly lower than SPY's 10.13% return. Over the past 10 years, ARKW has outperformed SPY with an annualized return of 21.15%, while SPY has yielded a comparatively lower 15.07% annualized return.

ARKW

• 1D: -1.02%
• 1M: -5.74%
• 6M: -0.05%
• YTD: -7.37%
• 1Y: -7.47%
• 3Y*: 27.92%
• 5Y*: -1.16%
• 10Y*: 21.15%
• ALL TIME*: 19.59%

SPY

• 1D: 0.72%
• 1M: 0.30%
• 6M: 8.53%
• YTD: 10.13%
• 1Y: 21.49%
• 3Y*: 19.32%
• 5Y*: 12.76%
• 10Y*: 15.07%
• ALL TIME*: 10.79%

*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)
ARKW ARK Next Generation Internet ETF	$8.60M	$12.21M	$13.95M
SPY State Street SPDR S&P 500 ETF	$37.27B	$35.99B	$39.23B

ARKW vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ARKW ARK Next Generation Internet ETF	-7.37%	38.93%	42.27%	96.89%	-67.49%	-18.85%	157.44%	35.76%	4.24%	87.29%
SPY State Street SPDR S&P 500 ETF	10.13%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Correlation

The correlation between ARKW and SPY is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.77
Correlation (3Y) Balances recent behavior with more history.	0.75
Correlation (5Y) Shows whether the relationship held over a longer period.	0.74
Correlation (10Y) Provides a long-term view across more market conditions.	0.71
Correlation (All Time) Calculated using the full available price history since Sep 30, 2014	0.69

The correlation between ARKW and SPY has been stable across timeframes, ranging from 0.69 to 0.77 - a consistent structural relationship.

ARKW vs. SPY - Sectors Allocation Comparison

Sectors	ARKW	SPY
Technology	49.7%	36.9%
Consumer Cyclical	16.8%	8.9%
Communication Services	15.3%	9.7%
Financial Services	14.7%	12.5%
Industrials	3.5%	7.6%
Basic Materials	-	1.9%
Consumer Defensive	-	4.8%
Energy	-	3.4%
Healthcare	-	9.4%
Real Estate	-	2.0%
Utilities	-	2.6%

Return for Risk

ARKW vs. SPY — Risk / Return Rank

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

ARKW

ARKW Risk / Return Rank: 7
ARKW Sharpe Ratio Rank: 6
ARKW Sortino Ratio Rank: 7
ARKW Omega Ratio Rank: 6
ARKW Calmar Ratio Rank: 7
ARKW Martin Ratio Rank: 7

SPY

SPY Risk / Return Rank: 67
SPY Sharpe Ratio Rank: 67
SPY Sortino Ratio Rank: 64
SPY Omega Ratio Rank: 65
SPY Calmar Ratio Rank: 64
SPY Martin Ratio Rank: 76

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.

ARKW vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ARK Next Generation Internet ETF (ARKW) 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.

	ARKW	SPY	Difference
Sharpe ratio: Return per unit of total volatility	-0.36	1.52	-1.88
Sortino ratio: Return per unit of downside risk	-0.29	2.11	-2.41
Omega ratio: Gain probability vs. loss probability	0.97	1.27	-0.31
Calmar ratio: Return relative to maximum drawdown	-0.33	2.20	-2.54
Martin ratio: Return relative to average drawdown	-0.62	9.40	-10.02

ARKW vs. SPY - Sharpe Ratio Comparison

The current ARKW Sharpe Ratio is -0.36, which is lower than the SPY Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of ARKW 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

ARKW vs. SPY - Drawdown Comparison

The maximum ARKW drawdown since its inception was -80.52%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for ARKW and SPY.

Drawdown Indicators

	ARKW	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-80.52%	-55.19%	-25.33%
Max Drawdown (1Y) Largest decline over 1 year	-36.21%	-8.88%	-27.33%
Max Drawdown (3Y) Largest decline over 3 years	-36.21%	-18.76%	-17.45%
Max Drawdown (5Y) Largest decline over 5 years	-77.36%	-24.50%	-52.86%
Max Drawdown (10Y) Largest decline over 10 years	-80.52%	-33.72%	-46.80%
Current Drawdown Current decline from peak	-25.76%	-1.40%	-24.36%
Average Drawdown Average peak-to-trough decline	-23.95%	-9.01%	-14.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.34%	2.08%	+17.26%

Volatility

ARKW vs. SPY - Volatility Comparison

ARK Next Generation Internet ETF (ARKW) has a higher volatility of 8.84% compared to State Street SPDR S&P 500 ETF (SPY) at 3.58%. This indicates that ARKW'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

	ARKW	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.84%	3.58%	+5.26%
Volatility (6M) Calculated over the trailing 6-month period	25.86%	10.14%	+15.72%
Volatility (1Y) Calculated over the trailing 1-year period	33.57%	12.89%	+20.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.76%	17.18%	+26.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.82%	17.95%	+19.87%

ARKW vs. SPY - Expense Ratio Comparison

ARKW has a 0.76% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

ARKW vs. SPY - Dividend Comparison

ARKW's dividend yield for the trailing twelve months is around 1.72%, more than SPY's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARKW ARK Next Generation Internet ETF	1.72%	1.59%	0.00%	0.00%	0.00%	0.17%	1.29%	0.00%	13.05%	2.05%	0.00%	2.29%
SPY State Street SPDR S&P 500 ETF	1.01%	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 ARKW and SPY in my portfolio?

ARKW and SPY have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARKW or SPY?

ARKW has higher volatility (8.84%) compared to SPY (3.58%). In terms of maximum drawdown, ARKW dropped -80.52% vs SPY's -55.19%.

Which ETF is better, ARKW or SPY?

On 10-year performance, ARKW leads with 21.15% vs 15.07% for SPY. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 3.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ARKW or SPY?

Over the 10-year period, ARKW has performed better with a 21.15% return vs 15.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ARKW or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.76% for ARKW.

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

ARKW has the higher dividend yield at 1.72%, compared with 1.01% for SPY.

What is the main difference between ARKW and SPY?

ARKW is categorized as Mid Cap Growth Equities, while SPY is S&P 500. They also come from different issuers: ARK and State Street. Their fees differ too: 0.76% for ARKW and 0.09% for SPY.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (1.52 vs -0.36), 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.