SPAQ vs. IDNA
Compare and contrast key facts about Horizon Kinetics SPAC Active ETF (SPAQ) and iShares Genomics Immunology and Healthcare ETF Genomics Immunology and Healthcare Fund (IDNA).
SPAQ and IDNA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPAQ is an actively managed fund by Horizon. It was launched on Jun 29, 2007. IDNA is a passively managed fund by iShares that tracks the performance of the NYSE FactSet Global Genomics and Immuno Biopharma Index. It was launched on Jun 11, 2019.
Performance
SPAQ vs. IDNA - Performance Comparison
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SPAQ vs. IDNA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SPAQ Horizon Kinetics SPAC Active ETF | 0.06% | 7.35% | 4.33% | 5.52% |
IDNA iShares Genomics Immunology and Healthcare ETF Genomics Immunology and Healthcare Fund | 11.45% | 17.26% | -0.72% | -12.30% |
Returns By Period
In the year-to-date period, SPAQ achieves a 0.06% return, which is significantly lower than IDNA's 11.45% return.
SPAQ
- 1D
- 0.62%
- 1M
- -0.24%
- YTD
- 0.06%
- 6M
- 1.51%
- 1Y
- 4.82%
- 3Y*
- 5.22%
- 5Y*
- —
- 10Y*
- —
IDNA
- 1D
- 0.48%
- 1M
- -5.56%
- YTD
- 11.45%
- 6M
- 20.68%
- 1Y
- 48.06%
- 3Y*
- 9.03%
- 5Y*
- -7.93%
- 10Y*
- —
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SPAQ vs. IDNA - Expense Ratio Comparison
SPAQ has a 0.85% expense ratio, which is higher than IDNA's 0.47% expense ratio.
Return for Risk
SPAQ vs. IDNA — Risk / Return Rank
SPAQ
IDNA
SPAQ vs. IDNA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Horizon Kinetics SPAC Active ETF (SPAQ) and iShares Genomics Immunology and Healthcare ETF Genomics Immunology and Healthcare Fund (IDNA). 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.
| SPAQ | IDNA | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.56 | 1.75 | -1.19 |
Sortino ratioReturn per unit of downside risk | 0.84 | 2.40 | -1.56 |
Omega ratioGain probability vs. loss probability | 1.13 | 1.29 | -0.16 |
Calmar ratioReturn relative to maximum drawdown | 0.98 | 3.66 | -2.68 |
Martin ratioReturn relative to average drawdown | 3.66 | 11.65 | -7.98 |
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
| SPAQ | IDNA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.56 | 1.75 | -1.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.28 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.78 | 0.11 | +0.67 |
Correlation
The correlation between SPAQ and IDNA is 0.06, 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
SPAQ vs. IDNA - Dividend Comparison
SPAQ's dividend yield for the trailing twelve months is around 16.68%, more than IDNA's 1.06% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SPAQ Horizon Kinetics SPAC Active ETF | 16.68% | 16.69% | 3.00% | 2.60% | 0.00% | 0.00% | 0.00% | 0.00% |
IDNA iShares Genomics Immunology and Healthcare ETF Genomics Immunology and Healthcare Fund | 1.06% | 1.18% | 0.98% | 1.04% | 0.54% | 0.70% | 0.26% | 0.80% |
Drawdowns
SPAQ vs. IDNA - Drawdown Comparison
The maximum SPAQ drawdown since its inception was -5.30%, smaller than the maximum IDNA drawdown of -68.26%. Use the drawdown chart below to compare losses from any high point for SPAQ and IDNA.
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Drawdown Indicators
| SPAQ | IDNA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.30% | -68.26% | +62.96% |
Max Drawdown (1Y)Largest decline over 1 year | -5.30% | -12.11% | +6.81% |
Max Drawdown (5Y)Largest decline over 5 years | — | -68.26% | — |
Current DrawdownCurrent decline from peak | -1.97% | -45.05% | +43.08% |
Average DrawdownAverage peak-to-trough decline | -0.53% | -36.05% | +35.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.41% | 3.81% | -2.40% |
Volatility
SPAQ vs. IDNA - Volatility Comparison
The current volatility for Horizon Kinetics SPAC Active ETF (SPAQ) is 1.75%, while iShares Genomics Immunology and Healthcare ETF Genomics Immunology and Healthcare Fund (IDNA) has a volatility of 9.54%. This indicates that SPAQ experiences smaller price fluctuations and is considered to be less risky than IDNA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPAQ | IDNA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.75% | 9.54% | -7.79% |
Volatility (6M)Calculated over the trailing 6-month period | 6.25% | 18.22% | -11.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.60% | 27.75% | -19.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.04% | 28.53% | -21.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.04% | 29.68% | -22.64% |