KIE vs. SPCZ
Compare and contrast key facts about SPDR S&P Insurance ETF (KIE) and RiverNorth Enhanced Pre-Merger SPAC ETF (SPCZ).
KIE and SPCZ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. KIE is a passively managed fund by State Street that tracks the performance of the S&P Insurance Select Industry Index. It was launched on Nov 8, 2005. SPCZ is an actively managed fund by RiverNorth. It was launched on Jul 11, 2022.
Performance
KIE vs. SPCZ - Performance Comparison
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KIE vs. SPCZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
KIE SPDR S&P Insurance ETF | -8.59% | 8.12% | 26.95% | 12.18% | 9.57% |
SPCZ RiverNorth Enhanced Pre-Merger SPAC ETF | -0.15% | 10.19% | 5.31% | 5.93% | 1.95% |
Returns By Period
In the year-to-date period, KIE achieves a -8.59% return, which is significantly lower than SPCZ's -0.15% return.
KIE
- 1D
- -0.55%
- 1M
- -6.30%
- YTD
- -8.59%
- 6M
- -5.99%
- 1Y
- -8.45%
- 3Y*
- 13.43%
- 5Y*
- 9.99%
- 10Y*
- 10.89%
SPCZ
- 1D
- -0.04%
- 1M
- -0.78%
- YTD
- -0.15%
- 6M
- 0.39%
- 1Y
- 8.26%
- 3Y*
- 6.38%
- 5Y*
- —
- 10Y*
- —
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KIE vs. SPCZ - Expense Ratio Comparison
KIE has a 0.35% expense ratio, which is lower than SPCZ's 0.90% expense ratio.
Return for Risk
KIE vs. SPCZ — Risk / Return Rank
KIE
SPCZ
KIE vs. SPCZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Insurance ETF (KIE) and RiverNorth Enhanced Pre-Merger SPAC ETF (SPCZ). 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.
| KIE | SPCZ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.43 | 1.33 | -1.76 |
Sortino ratioReturn per unit of downside risk | -0.46 | 1.98 | -2.45 |
Omega ratioGain probability vs. loss probability | 0.94 | 1.33 | -0.39 |
Calmar ratioReturn relative to maximum drawdown | -0.67 | 2.37 | -3.04 |
Martin ratioReturn relative to average drawdown | -1.55 | 6.30 | -7.85 |
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
| KIE | SPCZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.43 | 1.33 | -1.76 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.55 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.52 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 1.22 | -0.93 |
Correlation
The correlation between KIE and SPCZ is 0.09, 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.
Dividends
KIE vs. SPCZ - Dividend Comparison
KIE's dividend yield for the trailing twelve months is around 1.69%, less than SPCZ's 12.08% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KIE SPDR S&P Insurance ETF | 1.69% | 1.57% | 1.48% | 1.45% | 1.90% | 1.95% | 1.85% | 1.76% | 1.83% | 1.56% | 1.55% | 1.65% |
SPCZ RiverNorth Enhanced Pre-Merger SPAC ETF | 12.08% | 12.06% | 4.24% | 5.01% | 0.22% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
KIE vs. SPCZ - Drawdown Comparison
The maximum KIE drawdown since its inception was -75.30%, which is greater than SPCZ's maximum drawdown of -4.47%. Use the drawdown chart below to compare losses from any high point for KIE and SPCZ.
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Drawdown Indicators
| KIE | SPCZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.30% | -4.47% | -70.83% |
Max Drawdown (1Y)Largest decline over 1 year | -12.25% | -3.50% | -8.75% |
Max Drawdown (5Y)Largest decline over 5 years | -15.68% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -44.31% | — | — |
Current DrawdownCurrent decline from peak | -9.91% | -2.77% | -7.14% |
Average DrawdownAverage peak-to-trough decline | -12.09% | -0.43% | -11.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.26% | 1.32% | +3.94% |
Volatility
KIE vs. SPCZ - Volatility Comparison
SPDR S&P Insurance ETF (KIE) has a higher volatility of 4.73% compared to RiverNorth Enhanced Pre-Merger SPAC ETF (SPCZ) at 1.31%. This indicates that KIE's price experiences larger fluctuations and is considered to be riskier than SPCZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KIE | SPCZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.73% | 1.31% | +3.42% |
Volatility (6M)Calculated over the trailing 6-month period | 11.48% | 4.19% | +7.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.77% | 6.25% | +13.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.30% | 5.12% | +13.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.14% | 5.12% | +16.02% |