SFY vs. SPAX

Last updated Jun 25, 2026

SFY (SoFi Select 500 ETF) and SPAX (Robinson Alternative Yield Pre-merger SPAC ETF) are both exchange-traded funds - SFY is a Large Cap Growth Equities fund tracking the Solactive SoFi US 500 Growth Index, while SPAX is a Event Driven fund actively managed by Toroso Investments. SFY is passively managed, while SPAX is actively managed. At a 0.03 correlation, their price movements are largely independent. SFY charges 0.00%/yr vs 0.85%/yr for SPAX.

Performance

SFY vs. SPAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SoFi Select 500 ETF (SFY) and Robinson Alternative Yield Pre-merger SPAC ETF (SPAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SFY

• 1D: -0.30%
• 1M: -1.06%
• YTD: 10.42%
• 6M: 8.95%
• 1Y: 27.16%
• 3Y*: 25.26%
• 5Y*: 14.38%
• 10Y*: —

SPAX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SFY vs. SPAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SFY SoFi Select 500 ETF	10.42%	22.67%	29.81%	29.36%	-22.84%	12.64%
SPAX Robinson Alternative Yield Pre-merger SPAC ETF	0.00%	0.02%	5.11%	6.63%	1.25%	1.96%

Correlation

The correlation between SFY and SPAX 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 (3Y) Calculated over the trailing 3-year period	0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.03
Correlation (All Time) Calculated using the full available price history since Jun 23, 2021	0.03

Return for Risk

SFY vs. SPAX — Risk / Return Rank

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

SFY

SFY Risk / Return Rank: 58
SFY Sharpe Ratio Rank: 58
SFY Sortino Ratio Rank: 54
SFY Omega Ratio Rank: 56
SFY Calmar Ratio Rank: 57
SFY Martin Ratio Rank: 64

SPAX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

SFY vs. SPAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SoFi Select 500 ETF (SFY) and Robinson Alternative Yield Pre-merger SPAC ETF (SPAX). 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.

	SFY	SPAX	Difference
Sharpe ratio: Return per unit of total volatility	1.76	—	—
Sortino ratio: Return per unit of downside risk	2.35	—	—
Omega ratio: Gain probability vs. loss probability	1.31	—	—
Calmar ratio: Return relative to maximum drawdown	2.53	—	—
Martin ratio: Return relative to average drawdown	10.42	—	—

Drawdowns

Drawdown Indicators

	SFY	SPAX	Difference
Max Drawdown Largest peak-to-trough decline	-33.25%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-10.79%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-21.04%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.72%	—	—
Current Drawdown Current decline from peak	-4.56%	—	—
Average Drawdown Average peak-to-trough decline	-6.16%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.61%	—	—

Volatility

Volatility by Period

	SFY	SPAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.87%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.44%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.61%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.21%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.25%	—	—

SFY vs. SPAX - Expense Ratio Comparison

SFY has a 0.00% expense ratio, which is lower than SPAX's 0.85% expense ratio.

Dividends

SFY vs. SPAX - Dividend Comparison

SFY's dividend yield for the trailing twelve months is around 0.87%, while SPAX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
SFY SoFi Select 500 ETF	0.87%	0.96%	0.99%	1.40%	1.61%	0.90%	1.18%	1.02%
SPAX Robinson Alternative Yield Pre-merger SPAC ETF	0.00%	0.00%	5.50%	7.54%	0.97%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SFY and SPAX in my portfolio?

SFY and SPAX 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 ETF is better, SFY or SPAX?

On fees, SFY is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SFY or SPAX?

SFY is cheaper with a 0.00% expense ratio, compared with 0.85% for SPAX.

Which ETF pays a higher dividend yield, SFY or SPAX?

SFY has the higher dividend yield at 0.87%, compared with 0.00% for SPAX.

What is the main difference between SFY and SPAX?

SFY is categorized as Large Cap Growth Equities, while SPAX is Event Driven. They also come from different issuers: SoFi and Toroso Investments. Their fees differ too: 0.00% for SFY and 0.85% for SPAX.