CNCR vs. SPAQ

Last updated Jun 4, 2026

CNCR (Loncar Cancer Immunotherapy ETF) and SPAQ (Horizon Kinetics SPAC Active ETF) are both Health & Biotech Equities funds. CNCR is passively managed, while SPAQ is actively managed. CNCR charges 0.79%/yr vs 0.85%/yr for SPAQ.

Performance

CNCR vs. SPAQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Loncar Cancer Immunotherapy ETF (CNCR) and Horizon Kinetics SPAC Active ETF (SPAQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CNCR

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPAQ

• 1D: 0.00%
• 1M: 1.51%
• YTD: 2.81%
• 6M: 1.64%
• 1Y: 4.98%
• 3Y*: 5.87%
• 5Y*: —
• 10Y*: —

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

CNCR vs. SPAQ - Yearly Performance Comparison

	2026 (YTD)
CNCR Loncar Cancer Immunotherapy ETF	0.00%
SPAQ Horizon Kinetics SPAC Active ETF	1.81%

CNCR vs. SPAQ - Sectors Allocation Comparison

Sectors	CNCR	SPAQ
Healthcare	96.6%	-
Financial Services	3.3%	91.6%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Industrials	-	0.1%
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

CNCR vs. SPAQ — Risk / Return Rank

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

SPAQ

SPAQ Risk / Return Rank: 20
SPAQ Sharpe Ratio Rank: 18
SPAQ Sortino Ratio Rank: 17
SPAQ Omega Ratio Rank: 20
SPAQ Calmar Ratio Rank: 21
SPAQ Martin Ratio Rank: 25

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.

CNCR vs. SPAQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Loncar Cancer Immunotherapy ETF (CNCR) and Horizon Kinetics SPAC Active ETF (SPAQ). 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.

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

Sharpe Ratios by Period

	CNCR	SPAQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.57	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.86	—

Drawdowns

CNCR vs. SPAQ - Drawdown Comparison

The maximum CNCR drawdown since its inception was 0.00%, smaller than the maximum SPAQ drawdown of -5.30%. Use the drawdown chart below to compare losses from any high point for CNCR and SPAQ.

Drawdown Indicators

	CNCR	SPAQ	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-5.30%	+5.30%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.30%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-5.30%	—
Current Drawdown Current decline from peak	0.00%	-0.01%	+0.01%
Average Drawdown Average peak-to-trough decline	0.00%	-0.54%	+0.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.47%	—

Volatility

Volatility by Period

	CNCR	SPAQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.95%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.01%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	8.80%	-8.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	7.00%	-7.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	7.00%	-7.00%

CNCR vs. SPAQ - Expense Ratio Comparison

CNCR has a 0.79% expense ratio, which is lower than SPAQ's 0.85% expense ratio.

Dividends

CNCR vs. SPAQ - Dividend Comparison

CNCR has not paid dividends to shareholders, while SPAQ's dividend yield for the trailing twelve months is around 16.23%.

Position	TTM	2025	2024	2023
CNCR Loncar Cancer Immunotherapy ETF	0.00%	0.00%	0.00%	0.00%
SPAQ Horizon Kinetics SPAC Active ETF	16.23%	16.69%	3.00%	2.60%

Frequently Asked Questions

Which ETF is better, CNCR or SPAQ?

On fees, CNCR is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CNCR or SPAQ?

CNCR is cheaper with a 0.79% expense ratio, compared with 0.85% for SPAQ.

Which ETF pays a higher dividend yield, CNCR or SPAQ?

SPAQ has the higher dividend yield at 16.23%, compared with 0.00% for CNCR.

What is the main difference between CNCR and SPAQ?

They also come from different issuers: Exchange Traded Concepts and Horizon. Their fees differ too: 0.79% for CNCR and 0.85% for SPAQ.