IOFIX vs. SPY
Compare and contrast key facts about AlphaCentric Income Opportunities Fund (IOFIX) and SPDR S&P 500 ETF (SPY).
IOFIX is managed by AlphaCentric Funds. It was launched on May 27, 2015. 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: IOFIX or SPY.
Key characteristics
| IOFIX | SPY | |
|---|---|---|
| YTD Return | 2.32% | 18.37% |
| 1Y Return | 0.78% | 26.96% |
| 3Y Return (Ann) | -8.00% | 9.40% |
| 5Y Return (Ann) | -4.43% | 15.01% |
| Sharpe Ratio | 0.13 | 2.14 |
| Daily Std Dev | 4.89% | 12.67% |
| Max Drawdown | -45.49% | -55.19% |
| Current Drawdown | -24.62% | -1.02% |
Correlation
The correlation between IOFIX and SPY is 0.06, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
IOFIX vs. SPY - Performance Comparison
In the year-to-date period, IOFIX achieves a 2.32% return, which is significantly lower than SPY's 18.37% 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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IOFIX vs. SPY - Expense Ratio Comparison
IOFIX has a 1.65% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
IOFIX vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for AlphaCentric Income Opportunities Fund (IOFIX) 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
IOFIX vs. SPY - Dividend Comparison
IOFIX's dividend yield for the trailing twelve months is around 7.74%, more than SPY's 1.22% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IOFIX AlphaCentric Income Opportunities Fund | 7.74% | 7.52% | 5.51% | 3.94% | 4.76% | 4.70% | 5.07% | 4.83% | 4.97% | 2.22% | 0.00% | 0.00% |
SPY SPDR S&P 500 ETF | 0.94% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
IOFIX vs. SPY - Drawdown Comparison
The maximum IOFIX drawdown since its inception was -45.49%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for IOFIX and SPY. For additional features, visit the drawdowns tool.
Volatility
IOFIX vs. SPY - Volatility Comparison
The current volatility for AlphaCentric Income Opportunities Fund (IOFIX) is 0.91%, while SPDR S&P 500 ETF (SPY) has a volatility of 4.24%. This indicates that IOFIX 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.