SARK vs. SPY

Last updated Jun 4, 2026

SARK (Tradr Short Innovation Daily ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - SARK is a Inverse Equities fund actively managed by AXS, while SPY is a S&P 500 fund tracking the S&P 500 Index. SARK is actively managed, while SPY is passively managed. Over the past 3 years, SARK returned -30.74%/yr vs 22.35%/yr for SPY. At a correlation of -0.74, they often move in opposite directions. SARK charges 0.75%/yr vs 0.09%/yr for SPY.

Performance

SARK vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr Short Innovation Daily ETF (SARK) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SARK achieves a -6.78% return, which is significantly lower than SPY's 10.91% return.

SARK

• 1D: 2.29%
• 1M: -0.49%
• YTD: -6.78%
• 6M: -2.33%
• 1Y: -33.81%
• 3Y*: -30.74%
• 5Y*: —
• 10Y*: —

SPY

• 1D: -0.70%
• 1M: 5.05%
• YTD: 10.91%
• 6M: 10.91%
• 1Y: 27.98%
• 3Y*: 22.35%
• 5Y*: 13.83%
• 10Y*: 15.49%

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

SARK vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SARK Tradr Short Innovation Daily ETF	-6.78%	-25.93%	-36.90%	-46.32%	83.35%	20.78%
SPY State Street SPDR S&P 500 ETF	10.91%	17.72%	24.89%	26.18%	-18.18%	1.98%

Correlation

The correlation between SARK and SPY is -0.73, 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	-0.73
Correlation (3Y) Calculated over the trailing 3-year period	-0.74
Correlation (All Time) Calculated using the full available price history since Nov 10, 2021	-0.74

The correlation between SARK and SPY has been stable across timeframes, ranging from -0.74 to -0.73 - a consistent structural relationship.

Return for Risk

SARK vs. SPY — Risk / Return Rank

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

SARK

SARK Risk / Return Rank: 2
SARK Sharpe Ratio Rank: 2
SARK Sortino Ratio Rank: 2
SARK Omega Ratio Rank: 2
SARK Calmar Ratio Rank: 2
SARK Martin Ratio Rank: 4

SPY

SPY Risk / Return Rank: 70
SPY Sharpe Ratio Rank: 71
SPY Sortino Ratio Rank: 69
SPY Omega Ratio Rank: 70
SPY Calmar Ratio Rank: 62
SPY Martin Ratio Rank: 75

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.

SARK vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr Short Innovation Daily ETF (SARK) and State Street 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.

	SARK	SPY	Difference
Sharpe ratio: Return per unit of total volatility	-0.95	2.38	-3.32
Sortino ratio: Return per unit of downside risk	-1.30	3.24	-4.54
Omega ratio: Gain probability vs. loss probability	0.86	1.43	-0.58
Calmar ratio: Return relative to maximum drawdown	-0.83	3.16	-4.00
Martin ratio: Return relative to average drawdown	-1.11	14.72	-15.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SARK vs. SPY - Sharpe Ratio Comparison

The current SARK Sharpe Ratio is -0.95, which is lower than the SPY Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of SARK and SPY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SARK	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.95	2.38	-3.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.82	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.24	0.59	-0.83

Drawdowns

SARK vs. SPY - Drawdown Comparison

The maximum SARK drawdown since its inception was -81.07%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for SARK and SPY.

Drawdown Indicators

	SARK	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-81.07%	-55.19%	-25.88%
Max Drawdown (1Y) Largest decline over 1 year	-40.75%	-8.88%	-31.87%
Max Drawdown (3Y) Largest decline over 3 years	-74.42%	-18.76%	-55.66%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-79.42%	-0.70%	-78.72%
Average Drawdown Average peak-to-trough decline	-46.46%	-9.05%	-37.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.47%	1.91%	+28.56%

Volatility

SARK vs. SPY - Volatility Comparison

Tradr Short Innovation Daily ETF (SARK) has a higher volatility of 9.13% compared to State Street SPDR S&P 500 ETF (SPY) at 2.84%. This indicates that SARK's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SARK	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.13%	2.84%	+6.29%
Volatility (6M) Calculated over the trailing 6-month period	25.05%	8.90%	+16.15%
Volatility (1Y) Calculated over the trailing 1-year period	35.91%	11.83%	+24.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	56.24%	17.05%	+39.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.24%	17.94%	+38.30%

SARK vs. SPY - Expense Ratio Comparison

SARK has a 0.75% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

SARK vs. SPY - Dividend Comparison

SARK's dividend yield for the trailing twelve months is around 3.02%, more than SPY's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SARK Tradr Short Innovation Daily ETF	3.02%	2.82%	15.49%	12.57%	25.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	0.98%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both SARK and SPY in my portfolio?

SARK and SPY have a correlation of -0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SARK or SPY?

SARK has higher volatility (9.13%) compared to SPY (2.84%). In terms of maximum drawdown, SARK dropped -81.07% vs SPY's -55.19%.

Which ETF is better, SARK or SPY?

On 3-year performance, SPY leads with 22.35% vs -30.74% for SARK. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 2.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SARK or SPY?

Over the 3-year period, SPY has performed better with a 22.35% return vs -30.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SARK or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.75% for SARK.

Which ETF pays a higher dividend yield, SARK or SPY?

SARK has the higher dividend yield at 3.02%, compared with 0.98% for SPY.

What is the main difference between SARK and SPY?

SARK is categorized as Inverse Equities, while SPY is S&P 500. They also come from different issuers: AXS and State Street. Their fees differ too: 0.75% for SARK and 0.09% for SPY.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (2.38 vs -0.94), 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.