IBTA vs. SPAX

Last updated Jun 24, 2026

IBTA (Ibotta, Inc) is a stock, while SPAX (Robinson Alternative Yield Pre-merger SPAC ETF) is Event Driven fund actively managed by Toroso Investments. At a correlation of -0.02, they often move in opposite directions.

Performance

IBTA vs. SPAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ibotta, Inc (IBTA) and Robinson Alternative Yield Pre-merger SPAC ETF (SPAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IBTA

• 1D: 0.46%
• 1M: -4.35%
• YTD: 35.59%
• 6M: 43.22%
• 1Y: -18.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPAX

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

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

IBTA vs. SPAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IBTA Ibotta, Inc	35.59%	-65.07%	-44.38%
SPAX Robinson Alternative Yield Pre-merger SPAC ETF	0.00%	0.02%	4.44%

Correlation

The correlation between IBTA and SPAX is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 18, 2024	-0.02

Return for Risk

IBTA vs. SPAX — Risk / Return Rank

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

IBTA

IBTA Risk / Return Rank: 32
IBTA Sharpe Ratio Rank: 31
IBTA Sortino Ratio Rank: 33
IBTA Omega Ratio Rank: 34
IBTA Calmar Ratio Rank: 31
IBTA Martin Ratio Rank: 32

SPAX

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

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.

IBTA vs. SPAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ibotta, Inc (IBTA) 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.

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.

	IBTA	SPAX	Difference
Sharpe ratio: Return per unit of total volatility	-0.27	—	—
Sortino ratio: Return per unit of downside risk	0.07	—	—
Omega ratio: Gain probability vs. loss probability	1.01	—	—
Calmar ratio: Return relative to maximum drawdown	-0.36	—	—
Martin ratio: Return relative to average drawdown	-0.60	—	—

Drawdowns

Drawdown Indicators

	IBTA	SPAX	Difference
Max Drawdown Largest peak-to-trough decline	-83.55%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-52.01%	—	—
Current Drawdown Current decline from peak	-73.66%	—	—
Average Drawdown Average peak-to-trough decline	-58.60%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	31.07%	—	—

Volatility

Volatility by Period

	IBTA	SPAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.91%	—	—
Volatility (6M) Calculated over the trailing 6-month period	43.42%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	68.12%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.17%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.17%	—	—

Dividends

IBTA vs. SPAX - Dividend Comparison

Neither IBTA nor SPAX has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
IBTA Ibotta, Inc	0.00%	0.00%	0.00%	0.00%	0.00%
SPAX Robinson Alternative Yield Pre-merger SPAC ETF	0.00%	0.00%	5.50%	7.54%	0.97%

Frequently Asked Questions

Can I hold both IBTA and SPAX in my portfolio?

IBTA and SPAX have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.