IPOS vs. SPCK
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 -7.69%/yr vs -0.95%/yr for SPCK. At a 0.05 correlation, their price movements are largely independent. IPOS charges 0.80%/yr vs 0.95%/yr for SPCK.
Performance
IPOS vs. SPCK - Performance Comparison
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Returns By Period
In the year-to-date period, IPOS achieves a 40.15% return, which is significantly higher than SPCK's 2.66% return.
IPOS
- 1D
- 0.43%
- 1M
- 10.58%
- YTD
- 40.15%
- 6M
- 44.26%
- 1Y
- 65.50%
- 3Y*
- 15.28%
- 5Y*
- -7.69%
- 10Y*
- 3.00%
SPCK
- 1D
- 0.22%
- 1M
- 1.34%
- YTD
- 2.66%
- 6M
- 2.51%
- 1Y
- 2.37%
- 3Y*
- 4.02%
- 5Y*
- -0.95%
- 10Y*
- —
IPOS vs. SPCK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IPOS Renaissance International IPO ETF | 40.15% | 39.93% | -12.34% | -16.49% | -33.46% | -30.62% | 4.24% |
SPCK SPAC and New Issue ETF | 2.66% | 7.81% | 2.84% | -4.10% | -12.25% | 9.28% | 3.00% |
Correlation
The correlation between IPOS and SPCK is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Dec 17, 2020 | 0.05 |
The correlation between IPOS and SPCK shifts across timeframes, from -0.13 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IPOS vs. SPCK — Risk / Return Rank
IPOS
SPCK
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.
| IPOS | SPCK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.98 | ||
| Sortino ratioReturn per unit of downside risk | +2.36 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.06 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 3.83 | 0.31 | +3.53 |
| Martin ratioReturn relative to average drawdown | 11.58 | 0.52 | +11.06 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IPOS | SPCK | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.24 | 0.26 | +1.98 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.28 | -0.12 | -0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.12 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.09 | 0.15 | -0.06 |
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.
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Drawdown Indicators
| IPOS | SPCK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.09% | -28.28% | -44.81% |
Max Drawdown (1Y)Largest decline over 1 year | -17.17% | -7.72% | -9.45% |
Max Drawdown (3Y)Largest decline over 3 years | -34.08% | -7.72% | -26.36% |
Max Drawdown (5Y)Largest decline over 5 years | -69.93% | -20.59% | -49.34% |
Max Drawdown (10Y)Largest decline over 10 years | -73.09% | — | — |
Current DrawdownCurrent decline from peak | -40.44% | -16.01% | -24.43% |
Average DrawdownAverage peak-to-trough decline | -31.99% | -18.86% | -13.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.67% | 4.60% | +1.07% |
Volatility
IPOS vs. SPCK - Volatility Comparison
Renaissance International IPO ETF (IPOS) has a higher volatility of 12.05% compared to SPAC and New Issue ETF (SPCK) at 2.52%. 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.
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Volatility by Period
| IPOS | SPCK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.05% | 2.52% | +9.53% |
Volatility (6M)Calculated over the trailing 6-month period | 26.45% | 3.91% | +22.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.41% | 9.10% | +20.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.19% | 8.23% | +18.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.13% | 9.23% | +14.90% |
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 0.68%, less than SPCK's 16.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IPOS Renaissance International IPO ETF | 0.68% | 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 | 16.06% | 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
IPOS and SPCK have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IPOS has higher volatility (12.05%) compared to SPCK (2.52%). In terms of maximum drawdown, IPOS dropped -73.09% vs SPCK's -28.28%.
On 5-year performance, SPCK leads with -0.95% vs -7.69% for IPOS. On fees, IPOS is cheaper at 0.80% per year. On volatility, SPCK has been the lower-risk option at 2.52%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SPCK has performed better with a -0.95% return vs -7.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IPOS is cheaper with a 0.80% expense ratio, compared with 0.95% for SPCK.
SPCK has the higher dividend yield at 16.06%, compared with 0.68% for IPOS.
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.
IPOS currently has the higher Sharpe Ratio (2.24 vs 0.26), 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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