EUFN vs. SPAX
Compare and contrast key facts about iShares MSCI Europe Financials ETF (EUFN) and Robinson Alternative Yield Pre-merger SPAC ETF (SPAX).
EUFN and SPAX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EUFN is a passively managed fund by iShares that tracks the performance of the MSCI Europe Financials Index. It was launched on Jan 20, 2010. SPAX is an actively managed fund by Toroso Investments. It was launched on Jun 22, 2021.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: EUFN or SPAX.
Key characteristics
| EUFN | SPAX | |
|---|---|---|
| YTD Return | 19.60% | 4.21% |
| 1Y Return | 35.32% | 4.97% |
| 3Y Return (Ann) | 10.04% | 4.14% |
| Sharpe Ratio | 2.48 | 1.00 |
| Sortino Ratio | 3.22 | 1.57 |
| Omega Ratio | 1.41 | 1.21 |
| Calmar Ratio | 4.51 | 2.49 |
| Martin Ratio | 14.94 | 11.49 |
| Ulcer Index | 2.47% | 0.46% |
| Daily Std Dev | 14.89% | 5.22% |
| Max Drawdown | -53.25% | -8.88% |
| Current Drawdown | -3.04% | 0.00% |
Correlation
The correlation between EUFN and SPAX is 0.07, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
EUFN vs. SPAX - Performance Comparison
In the year-to-date period, EUFN achieves a 19.60% return, which is significantly higher than SPAX's 4.21% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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EUFN vs. SPAX - Expense Ratio Comparison
EUFN has a 0.48% expense ratio, which is lower than SPAX's 0.85% expense ratio.
Risk-Adjusted Performance
EUFN vs. SPAX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe Financials ETF (EUFN) and Robinson Alternative Yield Pre-merger SPAC ETF (SPAX). 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.
Dividends
EUFN vs. SPAX - Dividend Comparison
EUFN's dividend yield for the trailing twelve months is around 4.51%, less than SPAX's 10.18% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EUFN iShares MSCI Europe Financials ETF | 4.51% | 5.00% | 4.24% | 4.15% | 1.38% | 4.55% | 6.48% | 3.04% | 4.03% | 3.65% | 3.35% | 1.59% |
SPAX Robinson Alternative Yield Pre-merger SPAC ETF | 10.18% | 7.54% | 0.97% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
EUFN vs. SPAX - Drawdown Comparison
The maximum EUFN drawdown since its inception was -53.25%, which is greater than SPAX's maximum drawdown of -8.88%. Use the drawdown chart below to compare losses from any high point for EUFN and SPAX. For additional features, visit the drawdowns tool.
Volatility
EUFN vs. SPAX - Volatility Comparison
iShares MSCI Europe Financials ETF (EUFN) has a higher volatility of 3.08% compared to Robinson Alternative Yield Pre-merger SPAC ETF (SPAX) at 2.32%. This indicates that EUFN's price experiences larger fluctuations and is considered to be riskier than SPAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.