IPOS vs. SPCK

Last updated Jul 17, 2026

IPOS (Renaissance International IPO ETF) and SPCK (SPAC and New Issue ETF) are both exchange-traded funds - IPOS is a Foreign Large Cap Equities fund tracking the Renaissance International IPO Index, while SPCK is a Event Driven fund actively managed by Tuttle Capital Management. IPOS is passively managed, while SPCK is actively managed. Over the past 5 years, IPOS returned -7.57%/yr vs -1.39%/yr for SPCK. At a 0.06 correlation, their price movements are largely independent. IPOS charges 0.80%/yr vs 0.95%/yr for SPCK.

Performance

IPOS vs. SPCK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Renaissance International IPO ETF (IPOS) and SPAC and New Issue ETF (SPCK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IPOS achieves a 37.73% return, which is significantly higher than SPCK's 2.09% return.

IPOS

• 1D: -2.71%
• 1M: -5.15%
• 6M: 26.80%
• YTD: 37.73%
• 1Y: 53.35%
• 3Y*: 14.67%
• 5Y*: -7.57%
• 10Y*: 3.04%

SPCK

• 1D: -0.60%
• 1M: 0.72%
• 6M: 1.63%
• YTD: 2.09%
• 1Y: 0.74%
• 3Y*: 3.84%
• 5Y*: -1.39%
• 10Y*: —

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

IPOS vs. SPCK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
IPOS Renaissance International IPO ETF	37.73%	39.93%	-12.34%	-16.49%	-33.46%	-30.62%	4.61%
SPCK SPAC and New Issue ETF	2.09%	7.81%	2.84%	-4.10%	-12.25%	9.28%	3.39%

Correlation

The correlation between IPOS and SPCK is -0.03, 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 (1Y) Calculated over the trailing 1-year period	-0.03
Correlation (3Y) Calculated over the trailing 3-year period	-0.03
Correlation (5Y) Calculated over the trailing 5-year period	0.02
Correlation (All Time) Calculated using the full available price history since Dec 16, 2020	0.06

IPOS vs. SPCK - Sectors Allocation Comparison

Sectors	IPOS	SPCK
Technology	50.2%	-
Healthcare	14.9%	0.7%
Industrials	13.4%	-
Financial Services	7.3%	87.1%
Consumer Cyclical	6.3%	0.0%
Energy	4.9%	-
Consumer Defensive	4.2%	-
Basic Materials	3.8%	-
Utilities	3.1%	-
Communication Services	0.3%	-
Real Estate	-	-

Return for Risk

IPOS vs. SPCK — Risk / Return Rank

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

IPOS

IPOS Risk / Return Rank: 63
IPOS Sharpe Ratio Rank: 60
IPOS Sortino Ratio Rank: 55
IPOS Omega Ratio Rank: 60
IPOS Calmar Ratio Rank: 76
IPOS Martin Ratio Rank: 64

SPCK

SPCK Risk / Return Rank: 11
SPCK Sharpe Ratio Rank: 11
SPCK Sortino Ratio Rank: 10
SPCK Omega Ratio Rank: 10
SPCK Calmar Ratio Rank: 12
SPCK Martin Ratio Rank: 12

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.

IPOS vs. SPCK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Renaissance International IPO ETF (IPOS) and SPAC and New Issue ETF (SPCK). 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.

	IPOS	SPCK	Difference
Sharpe ratio: Return per unit of total volatility	1.60	0.12	+1.48
Sortino ratio: Return per unit of downside risk	2.14	0.21	+1.93
Omega ratio: Gain probability vs. loss probability	1.29	1.03	+0.27
Calmar ratio: Return relative to maximum drawdown	3.12	0.20	+2.92
Martin ratio: Return relative to average drawdown	8.97	0.40	+8.57

IPOS vs. SPCK - Sharpe Ratio Comparison

The current IPOS Sharpe Ratio is 1.60, which is higher than the SPCK Sharpe Ratio of 0.12. The chart below compares the historical Sharpe Ratios of IPOS and SPCK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IPOS vs. SPCK - Drawdown Comparison

The maximum IPOS drawdown since its inception was -73.09%, which is greater than SPCK's maximum drawdown of -28.28%. Use the drawdown chart below to compare losses from any high point for IPOS and SPCK.

Drawdown Indicators

	IPOS	SPCK	Difference
Max Drawdown Largest peak-to-trough decline	-73.09%	-28.28%	-44.81%
Max Drawdown (1Y) Largest decline over 1 year	-17.17%	-3.73%	-13.44%
Max Drawdown (3Y) Largest decline over 3 years	-34.08%	-7.72%	-26.36%
Max Drawdown (5Y) Largest decline over 5 years	-69.21%	-19.94%	-49.27%
Max Drawdown (10Y) Largest decline over 10 years	-73.09%	—	—
Current Drawdown Current decline from peak	-41.47%	-16.48%	-24.99%
Average Drawdown Average peak-to-trough decline	-32.05%	-18.81%	-13.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.96%	2.12%	+3.84%

Volatility

IPOS vs. SPCK - Volatility Comparison

Renaissance International IPO ETF (IPOS) has a higher volatility of 11.71% compared to SPAC and New Issue ETF (SPCK) at 2.74%. This indicates that IPOS's price experiences larger fluctuations and is considered to be riskier than SPCK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IPOS	SPCK	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.71%	2.74%	+8.97%
Volatility (6M) Calculated over the trailing 6-month period	30.93%	4.87%	+26.06%
Volatility (1Y) Calculated over the trailing 1-year period	33.61%	6.38%	+27.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.15%	8.33%	+19.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.50%	9.23%	+15.27%

IPOS vs. SPCK - Expense Ratio Comparison

IPOS has a 0.80% expense ratio, which is lower than SPCK's 0.95% expense ratio.

Dividends

IPOS vs. SPCK - Dividend Comparison

IPOS's dividend yield for the trailing twelve months is around 0.34%, less than SPCK's 16.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IPOS Renaissance International IPO ETF	0.34%	1.04%	0.93%	0.33%	0.00%	0.00%	0.25%	0.89%	1.12%	0.87%	1.73%	1.08%
SPCK SPAC and New Issue ETF	16.15%	16.48%	0.69%	2.27%	0.00%	1.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IPOS and SPCK in my portfolio?

IPOS and SPCK have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IPOS or SPCK?

IPOS has higher volatility (11.71%) compared to SPCK (2.74%). In terms of maximum drawdown, IPOS dropped -73.09% vs SPCK's -28.28%.

Which ETF is better, IPOS or SPCK?

On 5-year performance, SPCK leads with -1.39% vs -7.57% for IPOS. On fees, IPOS is cheaper at 0.80% per year. On volatility, SPCK has been the lower-risk option at 2.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IPOS or SPCK?

Over the 5-year period, SPCK has performed better with a -1.39% return vs -7.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IPOS or SPCK?

IPOS is cheaper with a 0.80% expense ratio, compared with 0.95% for SPCK.

Which ETF pays a higher dividend yield, IPOS or SPCK?

SPCK has the higher dividend yield at 16.15%, compared with 0.34% for IPOS.

What is the main difference between IPOS and SPCK?

IPOS is categorized as Foreign Large Cap Equities, while SPCK is Event Driven. They also come from different issuers: Renaissance Capital and Tuttle Capital Management. Their fees differ too: 0.80% for IPOS and 0.95% for SPCK.

Which has better risk-adjusted returns?

IPOS currently has the higher Sharpe Ratio (1.60 vs 0.12), 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.