EVNT vs. SPY
Compare and contrast key facts about AltShares Event-Driven ETF (EVNT) and SPDR S&P 500 ETF (SPY).
EVNT and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EVNT is an actively managed fund by AltShares. It was launched on Dec 31, 2014. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: EVNT or SPY.
Key characteristics
| EVNT | SPY | |
|---|---|---|
| YTD Return | 4.70% | 26.01% |
| 1Y Return | 9.10% | 33.73% |
| 3Y Return (Ann) | 1.80% | 9.91% |
| Sharpe Ratio | 1.36 | 2.82 |
| Sortino Ratio | 2.00 | 3.76 |
| Omega Ratio | 1.26 | 1.53 |
| Calmar Ratio | 1.93 | 4.05 |
| Martin Ratio | 4.60 | 18.33 |
| Ulcer Index | 2.15% | 1.86% |
| Daily Std Dev | 7.27% | 12.07% |
| Max Drawdown | -13.84% | -55.19% |
| Current Drawdown | -0.94% | -0.90% |
Correlation
The correlation between EVNT and SPY is 0.65, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
EVNT vs. SPY - Performance Comparison
In the year-to-date period, EVNT achieves a 4.70% return, which is significantly lower than SPY's 26.01% 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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EVNT vs. SPY - Expense Ratio Comparison
EVNT has a 1.30% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
EVNT vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for AltShares Event-Driven ETF (EVNT) and 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.
Dividends
EVNT vs. SPY - Dividend Comparison
EVNT's dividend yield for the trailing twelve months is around 0.56%, less than SPY's 1.18% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EVNT AltShares Event-Driven ETF | 0.56% | 0.59% | 2.61% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY SPDR S&P 500 ETF | 1.18% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
EVNT vs. SPY - Drawdown Comparison
The maximum EVNT drawdown since its inception was -13.84%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for EVNT and SPY. For additional features, visit the drawdowns tool.
Volatility
EVNT vs. SPY - Volatility Comparison
The current volatility for AltShares Event-Driven ETF (EVNT) is 1.21%, while SPDR S&P 500 ETF (SPY) has a volatility of 3.84%. This indicates that EVNT experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.