INKM vs. GVAL
INKM (SPDR SSgA Income Allocation ETF) and GVAL (Cambria Global Value ETF) are both Global Equities funds. Both are actively managed. Over the past 10 years, INKM returned 5.70%/yr vs 11.81%/yr for GVAL. A 0.66 correlation means they provide meaningful diversification when combined. INKM charges 0.50%/yr vs 0.64%/yr for GVAL.
Performance
INKM vs. GVAL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, INKM achieves a 5.85% return, which is significantly lower than GVAL's 17.40% return. Over the past 10 years, INKM has underperformed GVAL with an annualized return of 5.70%, while GVAL has yielded a comparatively higher 11.81% annualized return.
INKM
- 1D
- -0.06%
- 1M
- 0.40%
- YTD
- 5.85%
- 6M
- 5.87%
- 1Y
- 12.31%
- 3Y*
- 10.08%
- 5Y*
- 4.04%
- 10Y*
- 5.70%
GVAL
- 1D
- -1.91%
- 1M
- 4.28%
- YTD
- 17.40%
- 6M
- 17.33%
- 1Y
- 43.62%
- 3Y*
- 27.44%
- 5Y*
- 14.14%
- 10Y*
- 11.81%
INKM vs. GVAL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
INKM SPDR SSgA Income Allocation ETF | 5.85% | 11.86% | 5.70% | 10.26% | -12.58% | 8.52% | 3.11% | 17.12% | -5.32% | 13.95% |
GVAL Cambria Global Value ETF | 17.40% | 55.87% | 2.59% | 13.30% | -7.98% | 10.70% | -8.51% | 17.24% | -14.30% | 29.50% |
Correlation
The correlation between INKM and GVAL is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Mar 12, 2014 | 0.66 |
The correlation between INKM and GVAL has been stable across timeframes, ranging from 0.63 to 0.68 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
INKM vs. GVAL — Risk / Return Rank
INKM
GVAL
INKM vs. GVAL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR SSgA Income Allocation ETF (INKM) and Cambria Global Value ETF (GVAL). 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 | GVAL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.79 | ||
| Sortino ratioReturn per unit of downside risk | -0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.50 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.72 | 3.81 | -1.09 |
| Martin ratioReturn relative to average drawdown | 10.66 | 14.52 | -3.86 |
Loading charts...
Drawdowns
INKM vs. GVAL - Drawdown Comparison
The maximum INKM drawdown since its inception was -28.58%, smaller than the maximum GVAL drawdown of -46.82%. Use the drawdown chart below to compare losses from any high point for INKM and GVAL.
Loading charts...
Drawdown Indicators
| INKM | GVAL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.58% | -46.82% | +18.24% |
Max Drawdown (1Y)Largest decline over 1 year | -4.55% | -11.50% | +6.95% |
Max Drawdown (3Y)Largest decline over 3 years | -9.25% | -15.72% | +6.47% |
Max Drawdown (5Y)Largest decline over 5 years | -19.18% | -30.83% | +11.65% |
Max Drawdown (10Y)Largest decline over 10 years | -28.58% | -46.82% | +18.24% |
Current DrawdownCurrent decline from peak | -0.74% | -2.31% | +1.57% |
Average DrawdownAverage peak-to-trough decline | -3.68% | -13.82% | +10.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.16% | 3.01% | -1.85% |
Volatility
INKM vs. GVAL - Volatility Comparison
The current volatility for SPDR SSgA Income Allocation ETF (INKM) is 1.83%, while Cambria Global Value ETF (GVAL) has a volatility of 6.37%. This indicates that INKM experiences smaller price fluctuations and is considered to be less risky than GVAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| INKM | GVAL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.83% | 6.37% | -4.54% |
Volatility (6M)Calculated over the trailing 6-month period | 4.78% | 13.81% | -9.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.11% | 15.55% | -9.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.32% | 18.60% | -10.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.77% | 19.00% | -9.23% |
INKM vs. GVAL - Expense Ratio Comparison
INKM has a 0.50% expense ratio, which is lower than GVAL's 0.64% expense ratio.
Dividends
INKM vs. GVAL - Dividend Comparison
INKM's dividend yield for the trailing twelve months is around 4.85%, more than GVAL's 2.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GVAL Cambria Global Value ETF | 2.43% | 2.93% | 4.75% | 6.12% | 5.05% | 2.97% | 1.90% | 2.84% | 4.65% | 2.00% | 2.54% | 2.11% |
INKM SPDR SSgA Income Allocation ETF | 4.85% | 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 GVAL have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GVAL has higher volatility (6.37%) compared to INKM (1.83%). In terms of maximum drawdown, INKM dropped -28.58% vs GVAL's -46.82%.
On 10-year performance, GVAL leads with 11.81% vs 5.70% for INKM. On fees, INKM is cheaper at 0.50% per year. On volatility, INKM has been the lower-risk option at 1.83%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GVAL has performed better with a 11.81% return vs 5.70%. 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 0.64% for GVAL.
INKM has the higher dividend yield at 4.85%, compared with 2.43% for GVAL.
They also come from different issuers: State Street and Cambria. Their fees differ too: 0.50% for INKM and 0.64% for GVAL.
GVAL currently has the higher Sharpe Ratio (2.82 vs 2.03), 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.
Find the right allocation for INKM and GVAL
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer