INKM vs. CAPE
INKM (SPDR SSgA Income Allocation ETF) and CAPE (DoubleLine Shiller CAPE U.S. Equities ETF) are both exchange-traded funds - INKM is a Global Equities fund actively managed by State Street, while CAPE is a Large Cap Value Equities fund actively managed by DoubleLine. Both are actively managed. Over the past 3 years, INKM returned 10.14%/yr vs 11.54%/yr for CAPE. Their 0.75 correlation means they have sometimes moved together and sometimes differently. INKM charges 0.50%/yr vs 0.65%/yr for CAPE.
Performance
INKM vs. CAPE - Performance Comparison
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Returns By Period
In the year-to-date period, INKM achieves a 7.48% return, which is significantly higher than CAPE's 3.72% return.
INKM
- 1D
- 0.45%
- 1M
- 0.86%
- 6M
- 4.32%
- YTD
- 7.48%
- 1Y
- 11.85%
- 3Y*
- 10.14%
- 5Y*
- 4.34%
- 10Y*
- 5.40%
- ALL TIME*
- 5.34%
CAPE
- 1D
- 0.79%
- 1M
- 0.83%
- 6M
- 1.69%
- YTD
- 3.72%
- 1Y
- 6.44%
- 3Y*
- 11.54%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 8.07%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $498.36K | $470.01K | $935.26K | |
| $356.13K | $216.66K | $250.22K |
INKM vs. CAPE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
INKM SPDR SSgA Income Allocation ETF | 7.48% | 11.86% | 5.70% | 10.26% | -10.27% |
CAPE DoubleLine Shiller CAPE U.S. Equities ETF | 3.72% | 9.10% | 14.40% | 27.65% | -15.28% |
Correlation
The correlation between INKM and CAPE is 0.72, 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. | 0.72 |
Correlation (3Y) Balances recent behavior with more history. | 0.73 |
Correlation (All Time) Calculated using the full available price history since Apr 4, 2022 | 0.75 |
The correlation between INKM and CAPE has been stable across timeframes, ranging from 0.72 to 0.75 - a consistent structural relationship.
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Return for Risk
INKM vs. CAPE — Risk / Return Rank
INKM
CAPE
INKM vs. CAPE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR SSgA Income Allocation ETF (INKM) and DoubleLine Shiller CAPE U.S. Equities ETF (CAPE). 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.
| INKM | CAPE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.43 | ||
| Sortino ratioReturn per unit of downside risk | +1.93 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.11 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 2.61 | 0.67 | +1.95 |
| Martin ratioReturn relative to average drawdown | 10.30 | 2.36 | +7.94 |
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Drawdowns
INKM vs. CAPE - Drawdown Comparison
The maximum INKM drawdown since its inception was -28.58%, which is greater than CAPE's maximum drawdown of -22.07%. Use the drawdown chart below to compare losses from any high point for INKM and CAPE.
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Drawdown Indicators
| INKM | CAPE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.58% | -22.07% | -6.51% |
Max Drawdown (1Y)Largest decline over 1 year | -4.55% | -9.68% | +5.13% |
Max Drawdown (3Y)Largest decline over 3 years | -7.36% | -14.32% | +6.96% |
Max Drawdown (5Y)Largest decline over 5 years | -19.18% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -28.58% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -3.65% | -4.81% | +1.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.15% | 2.74% | -1.59% |
Volatility
INKM vs. CAPE - Volatility Comparison
The current volatility for SPDR SSgA Income Allocation ETF (INKM) is 1.28%, while DoubleLine Shiller CAPE U.S. Equities ETF (CAPE) has a volatility of 4.50%. This indicates that INKM experiences smaller price fluctuations and is considered to be less risky than CAPE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| INKM | CAPE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.28% | 4.50% | -3.22% |
Volatility (6M)Calculated over the trailing 6-month period | 4.73% | 9.61% | -4.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.03% | 11.60% | -5.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.31% | 16.84% | -8.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.75% | 16.84% | -7.09% |
INKM vs. CAPE - Expense Ratio Comparison
INKM has a 0.50% expense ratio, which is lower than CAPE's 0.65% expense ratio.
Dividends
INKM vs. CAPE - Dividend Comparison
INKM's dividend yield for the trailing twelve months is around 4.74%, more than CAPE's 1.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CAPE DoubleLine Shiller CAPE U.S. Equities ETF | 1.36% | 1.39% | 1.23% | 1.01% | 0.80% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
INKM SPDR SSgA Income Allocation ETF | 4.74% | 5.82% | 4.83% | 4.56% | 5.03% | 3.74% | 3.88% | 4.38% | 4.08% | 3.10% | 3.39% | 3.45% |
Frequently Asked Questions
INKM and CAPE have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CAPE has higher volatility (4.50%) compared to INKM (1.28%). In terms of maximum drawdown, INKM dropped -28.58% vs CAPE's -22.07%.
On 3-year performance, CAPE leads with 11.54% vs 10.14% for INKM. On fees, INKM is cheaper at 0.50% per year. On volatility, INKM has been the lower-risk option at 1.28%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, CAPE has performed better with a 11.54% return vs 10.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
INKM is cheaper with a 0.50% expense ratio, compared with 0.65% for CAPE.
INKM has the higher dividend yield at 4.74%, compared with 1.36% for CAPE.
INKM is categorized as Global Equities, while CAPE is Large Cap Value Equities. They also come from different issuers: State Street and DoubleLine. Their fees differ too: 0.50% for INKM and 0.65% for CAPE.
INKM currently has the higher Sharpe Ratio (1.99 vs 0.56), 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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