SOVF vs. SPY

Last updated Jun 3, 2026

SOVF (Sovereign's Capital Flourish Fund) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - SOVF is a Mid Cap Blend Equities fund actively managed by Sovereign's, while SPY is a S&P 500 fund tracking the S&P 500 Index. SOVF is actively managed, while SPY is passively managed. Over the past year, SOVF returned -1.33% vs 29.62% for SPY. A 0.71 correlation means they provide meaningful diversification when combined. SOVF charges 0.75%/yr vs 0.09%/yr for SPY.

Performance

SOVF vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sovereign's Capital Flourish Fund (SOVF) 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, SOVF achieves a -1.10% return, which is significantly lower than SPY's 11.69% return.

SOVF

• 1D: -0.84%
• 1M: -0.28%
• YTD: -1.10%
• 6M: 2.60%
• 1Y: -1.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPY

• 1D: 0.14%
• 1M: 5.40%
• YTD: 11.69%
• 6M: 12.09%
• 1Y: 29.62%
• 3Y*: 22.64%
• 5Y*: 14.20%
• 10Y*: 15.57%

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

SOVF vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SOVF Sovereign's Capital Flourish Fund	-1.10%	-4.38%	8.67%	16.18%
SPY State Street SPDR S&P 500 ETF	11.69%	17.72%	24.89%	13.20%

Correlation

The correlation between SOVF and SPY is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.61
Correlation (All Time) Calculated using the full available price history since Oct 4, 2023	0.71

The correlation between SOVF and SPY shifts across timeframes, from 0.61 (1 year) to 0.71 (all time), reflecting how their relationship changes across market environments.

SOVF vs. SPY - Sectors Allocation Comparison

Sectors	SOVF	SPY
Technology	31.6%	35.9%
Financial Services	16.1%	11.8%
Industrials	14.3%	7.8%
Healthcare	9.6%	8.4%
Consumer Defensive	8.6%	4.8%
Consumer Cyclical	8.4%	10.3%
Utilities	5.2%	2.4%
Real Estate	3.7%	1.9%
Energy	2.1%	3.6%
Communication Services	0.3%	11.3%
Basic Materials	-	1.8%

Return for Risk

SOVF vs. SPY — Risk / Return Rank

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

SOVF

SOVF Risk / Return Rank: 7
SOVF Sharpe Ratio Rank: 8
SOVF Sortino Ratio Rank: 7
SOVF Omega Ratio Rank: 7
SOVF Calmar Ratio Rank: 8
SOVF Martin Ratio Rank: 8

SPY

SPY Risk / Return Rank: 75
SPY Sharpe Ratio Rank: 77
SPY Sortino Ratio Rank: 75
SPY Omega Ratio Rank: 76
SPY Calmar Ratio Rank: 68
SPY Martin Ratio Rank: 80

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.

SOVF vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sovereign's Capital Flourish Fund (SOVF) 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.

	SOVF	SPY	Difference
Sharpe ratio Return per unit of total volatility	-0.09	2.52	-2.61
Sortino ratio Return per unit of downside risk	-0.03	3.42	-3.44
Omega ratio Gain probability vs. loss probability	1.00	1.46	-0.46
Calmar ratio Return relative to maximum drawdown	-0.09	3.42	-3.50
Martin ratio Return relative to average drawdown	-0.19	15.93	-16.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SOVF vs. SPY - Sharpe Ratio Comparison

The current SOVF Sharpe Ratio is -0.09, which is lower than the SPY Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of SOVF 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

	SOVF	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.09	2.52	-2.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.84	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.59	-0.18

Drawdowns

SOVF vs. SPY - Drawdown Comparison

The maximum SOVF drawdown since its inception was -21.74%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for SOVF and SPY.

Drawdown Indicators

	SOVF	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-21.74%	-55.19%	+33.45%
Max Drawdown (1Y) Largest decline over 1 year	-14.46%	-8.88%	-5.58%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.76%	—
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	-12.99%	0.00%	-12.99%
Average Drawdown Average peak-to-trough decline	-7.27%	-9.05%	+1.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.77%	1.91%	+4.86%

Volatility

SOVF vs. SPY - Volatility Comparison

Sovereign's Capital Flourish Fund (SOVF) has a higher volatility of 3.40% compared to State Street SPDR S&P 500 ETF (SPY) at 2.75%. This indicates that SOVF'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

	SOVF	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.40%	2.75%	+0.65%
Volatility (6M) Calculated over the trailing 6-month period	10.00%	8.89%	+1.11%
Volatility (1Y) Calculated over the trailing 1-year period	14.66%	11.81%	+2.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.23%	17.05%	+0.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.23%	17.94%	-0.71%

SOVF vs. SPY - Expense Ratio Comparison

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

Dividends

SOVF vs. SPY - Dividend Comparison

SOVF's dividend yield for the trailing twelve months is around 0.78%, less than SPY's 0.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SOVF Sovereign's Capital Flourish Fund	0.78%	0.77%	0.30%	0.18%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	0.97%	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 SOVF and SPY in my portfolio?

SOVF and SPY have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SOVF or SPY?

SOVF has higher volatility (3.40%) compared to SPY (2.75%). In terms of maximum drawdown, SOVF dropped -21.74% vs SPY's -55.19%.

Which ETF is better, SOVF or SPY?

On 1-year performance, SPY leads with 29.62% vs -1.33% for SOVF. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 2.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SOVF or SPY?

Over the 1-year period, SPY has performed better with a 29.62% return vs -1.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SOVF or SPY?

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

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

SPY has the higher dividend yield at 0.97%, compared with 0.78% for SOVF.

What is the main difference between SOVF and SPY?

SOVF is categorized as Mid Cap Blend Equities, while SPY is S&P 500. They also come from different issuers: Sovereign's and State Street. Their fees differ too: 0.75% for SOVF and 0.09% for SPY.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (2.52 vs -0.09), 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.