GRNB vs. SPSK
GRNB (VanEck Green Bond ETF) and SPSK (SP Funds Dow Jones Global Sukuk ETF) are both Global Bonds funds - GRNB tracks the S&P Green Bond U.S. Dollar Select Index while SPSK tracks the Dow Jones Sukuk Total Return (No Coupon Reinvestment). Both are passively managed. Over the past 5 years, GRNB returned 0.77%/yr vs 0.83%/yr for SPSK. At a 0.48 correlation, their price movements are largely independent. GRNB charges 0.20%/yr vs 0.50%/yr for SPSK.
Performance
GRNB vs. SPSK - Performance Comparison
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Returns By Period
In the year-to-date period, GRNB achieves a 0.43% return, which is significantly higher than SPSK's 0.03% return.
GRNB
- 1D
- -0.19%
- 1M
- 0.45%
- YTD
- 0.43%
- 6M
- 0.57%
- 1Y
- 4.99%
- 3Y*
- 5.07%
- 5Y*
- 0.77%
- 10Y*
- —
SPSK
- 1D
- -0.22%
- 1M
- 0.40%
- YTD
- 0.03%
- 6M
- -0.08%
- 1Y
- 3.74%
- 3Y*
- 3.95%
- 5Y*
- 0.83%
- 10Y*
- —
GRNB vs. SPSK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
GRNB VanEck Green Bond ETF | 0.43% | 7.09% | 3.31% | 7.08% | -11.93% | -2.36% | 7.98% | -0.08% |
SPSK SP Funds Dow Jones Global Sukuk ETF | 0.03% | 6.16% | 2.95% | 3.95% | -7.75% | -1.30% | 3.67% | 0.02% |
Correlation
The correlation between GRNB and SPSK is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Dec 31, 2019 | 0.48 |
The correlation between GRNB and SPSK shifts across timeframes, from 0.44 (3 years) to 0.57 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GRNB vs. SPSK — Risk / Return Rank
GRNB
SPSK
GRNB vs. SPSK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Green Bond ETF (GRNB) and SP Funds Dow Jones Global Sukuk ETF (SPSK). 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.
| GRNB | SPSK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.71 | ||
| Sortino ratioReturn per unit of downside risk | +1.04 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.17 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | 1.32 | +0.68 |
| Martin ratioReturn relative to average drawdown | 7.82 | 4.43 | +3.39 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GRNB | SPSK | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.69 | 0.98 | +0.71 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | 0.16 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.20 | +0.26 |
Drawdowns
GRNB vs. SPSK - Drawdown Comparison
The maximum GRNB drawdown since its inception was -18.08%, which is greater than SPSK's maximum drawdown of -12.83%. Use the drawdown chart below to compare losses from any high point for GRNB and SPSK.
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Drawdown Indicators
| GRNB | SPSK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.08% | -12.83% | -5.25% |
Max Drawdown (1Y)Largest decline over 1 year | -2.51% | -2.85% | +0.34% |
Max Drawdown (3Y)Largest decline over 3 years | -4.24% | -3.17% | -1.07% |
Max Drawdown (5Y)Largest decline over 5 years | -17.94% | -12.45% | -5.49% |
Current DrawdownCurrent decline from peak | -0.57% | -1.03% | +0.46% |
Average DrawdownAverage peak-to-trough decline | -4.58% | -3.83% | -0.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.64% | 0.84% | -0.20% |
Volatility
GRNB vs. SPSK - Volatility Comparison
VanEck Green Bond ETF (GRNB) and SP Funds Dow Jones Global Sukuk ETF (SPSK) have volatilities of 0.93% and 0.96%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GRNB | SPSK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.93% | 0.96% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.34% | 2.46% | -0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.96% | 3.84% | -0.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.92% | 5.29% | -0.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.88% | 5.46% | -0.58% |
GRNB vs. SPSK - Expense Ratio Comparison
GRNB has a 0.20% expense ratio, which is lower than SPSK's 0.50% expense ratio.
Dividends
GRNB vs. SPSK - Dividend Comparison
GRNB's dividend yield for the trailing twelve months is around 4.24%, which matches SPSK's 4.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
GRNB VanEck Green Bond ETF | 4.24% | 4.18% | 3.83% | 3.17% | 2.60% | 1.97% | 2.24% | 1.79% | 1.21% | 1.09% |
SPSK SP Funds Dow Jones Global Sukuk ETF | 4.24% | 3.63% | 3.53% | 2.95% | 2.22% | 2.56% | 1.78% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GRNB and SPSK have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPSK has higher volatility (0.96%) compared to GRNB (0.93%). In terms of maximum drawdown, GRNB dropped -18.08% vs SPSK's -12.83%.
On 5-year performance, SPSK leads with 0.83% vs 0.77% for GRNB. On fees, GRNB is cheaper at 0.20% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SPSK has performed better with a 0.83% return vs 0.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GRNB is cheaper with a 0.20% expense ratio, compared with 0.50% for SPSK.
GRNB and SPSK have nearly identical dividend yields, around 4.24%.
GRNB tracks S&P Green Bond U.S. Dollar Select Index, while SPSK tracks Dow Jones Sukuk Total Return (No Coupon Reinvestment). They also come from different issuers: VanEck and SP Funds. Their fees differ too: 0.20% for GRNB and 0.50% for SPSK.
GRNB currently has the higher Sharpe Ratio (1.69 vs 0.98), 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.
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