CTIF vs. SPIN

Last updated Aug 1, 2026

CTIF (Castellan Targeted Income ETF) and SPIN (State Street US Equity Premium Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, CTIF returned 13.36% vs 14.27% for SPIN. Their 0.68 correlation means they have sometimes moved together and sometimes differently. CTIF charges 0.45%/yr vs 0.25%/yr for SPIN.

Performance

CTIF vs. SPIN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Castellan Targeted Income ETF (CTIF) and State Street US Equity Premium Income ETF (SPIN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CTIF achieves a 9.32% return, which is significantly higher than SPIN's 3.96% return.

CTIF

• 1D: 0.88%
• 1M: 4.08%
• 6M: 7.06%
• YTD: 9.32%
• 1Y: 13.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.28%

SPIN

• 1D: 1.24%
• 1M: 1.15%
• 6M: 2.65%
• YTD: 3.96%
• 1Y: 14.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.09%

*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)
CTIF Castellan Targeted Income ETF	$185.99K	$160.92K	$255.19K
SPIN State Street US Equity Premium Income ETF	$106.05K	$178.20K	$136.27K

CTIF vs. SPIN - Yearly Performance Comparison

	2026 (YTD)	2025
CTIF Castellan Targeted Income ETF	9.32%	3.87%
SPIN State Street US Equity Premium Income ETF	3.96%	13.49%

Correlation

The correlation between CTIF and SPIN is 0.70, 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.	0.70
Correlation (All Time) Calculated using the full available price history since Jun 25, 2025	0.68

The correlation between CTIF and SPIN has been stable across timeframes, ranging from 0.68 to 0.70 - a consistent structural relationship.

Return for Risk

CTIF vs. SPIN — Risk / Return Rank

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

CTIF

CTIF Risk / Return Rank: 35
CTIF Sharpe Ratio Rank: 35
CTIF Sortino Ratio Rank: 34
CTIF Omega Ratio Rank: 32
CTIF Calmar Ratio Rank: 34
CTIF Martin Ratio Rank: 40

SPIN

SPIN Risk / Return Rank: 43
SPIN Sharpe Ratio Rank: 44
SPIN Sortino Ratio Rank: 43
SPIN Omega Ratio Rank: 44
SPIN Calmar Ratio Rank: 38
SPIN Martin Ratio Rank: 46

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.

CTIF vs. SPIN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Castellan Targeted Income ETF (CTIF) and State Street US Equity Premium Income ETF (SPIN). 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.

	CTIF	SPIN	Difference
Sharpe ratio: Return per unit of total volatility	0.86	1.11	-0.25
Sortino ratio: Return per unit of downside risk	1.29	1.58	-0.30
Omega ratio: Gain probability vs. loss probability	1.15	1.20	-0.05
Calmar ratio: Return relative to maximum drawdown	1.17	1.32	-0.15
Martin ratio: Return relative to average drawdown	4.27	5.27	-1.00

CTIF vs. SPIN - Sharpe Ratio Comparison

The current CTIF Sharpe Ratio is 0.86, which is comparable to the SPIN Sharpe Ratio of 1.11. The chart below compares the historical Sharpe Ratios of CTIF and SPIN, 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

CTIF vs. SPIN - Drawdown Comparison

The maximum CTIF drawdown since its inception was -9.43%, smaller than the maximum SPIN drawdown of -16.85%. Use the drawdown chart below to compare losses from any high point for CTIF and SPIN.

Drawdown Indicators

	CTIF	SPIN	Difference
Max Drawdown Largest peak-to-trough decline	-9.43%	-16.85%	+7.42%
Max Drawdown (1Y) Largest decline over 1 year	-9.43%	-9.81%	+0.38%
Current Drawdown Current decline from peak	-0.25%	-0.18%	-0.07%
Average Drawdown Average peak-to-trough decline	-1.76%	-2.21%	+0.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.59%	2.45%	+0.14%

Volatility

CTIF vs. SPIN - Volatility Comparison

Castellan Targeted Income ETF (CTIF) has a higher volatility of 3.85% compared to State Street US Equity Premium Income ETF (SPIN) at 3.43%. This indicates that CTIF's price experiences larger fluctuations and is considered to be riskier than SPIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CTIF	SPIN	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.85%	3.43%	+0.42%
Volatility (6M) Calculated over the trailing 6-month period	9.76%	8.79%	+0.97%
Volatility (1Y) Calculated over the trailing 1-year period	12.83%	11.62%	+1.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.61%	14.25%	-1.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.61%	14.25%	-1.64%

CTIF vs. SPIN - Expense Ratio Comparison

CTIF has a 0.45% expense ratio, which is higher than SPIN's 0.25% expense ratio.

Dividends

CTIF vs. SPIN - Dividend Comparison

CTIF's dividend yield for the trailing twelve months is around 4.75%, less than SPIN's 5.11% yield.

Position	TTM	2025	2024
CTIF Castellan Targeted Income ETF	4.75%	2.55%	0.00%
SPIN State Street US Equity Premium Income ETF	4.76%	8.20%	2.36%

Frequently Asked Questions

Can I hold both CTIF and SPIN in my portfolio?

CTIF and SPIN have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CTIF or SPIN?

CTIF has higher volatility (3.85%) compared to SPIN (3.43%). In terms of maximum drawdown, CTIF dropped -9.43% vs SPIN's -16.85%.

Which ETF is better, CTIF or SPIN?

On 1-year performance, SPIN leads with 14.27% vs 13.36% for CTIF. On fees, SPIN is cheaper at 0.25% per year. On volatility, SPIN has been the lower-risk option at 3.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CTIF or SPIN?

Over the 1-year period, SPIN has performed better with a 14.27% return vs 13.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CTIF or SPIN?

SPIN is cheaper with a 0.25% expense ratio, compared with 0.45% for CTIF.

Which ETF pays a higher dividend yield, CTIF or SPIN?

SPIN has the higher dividend yield at 4.76%, compared with 4.75% for CTIF.

What is the main difference between CTIF and SPIN?

They also come from different issuers: Castellan and State Street. Their fees differ too: 0.45% for CTIF and 0.25% for SPIN.

Which has better risk-adjusted returns?

SPIN currently has the higher Sharpe Ratio (1.11 vs 0.86), 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.