SPAX vs. IBTA

Last updated Jun 4, 2026

SPAX (Robinson Alternative Yield Pre-merger SPAC ETF) is Event Driven fund actively managed by Toroso Investments, while IBTA (Ibotta, Inc) is a stock. At a correlation of -0.02, they often move in opposite directions.

Performance

SPAX vs. IBTA - Performance Comparison

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

Returns By Period

SPAX

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

IBTA

• 1D: -6.25%
• 1M: -8.77%
• YTD: 43.25%
• 6M: 34.88%
• 1Y: -34.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPAX vs. IBTA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SPAX Robinson Alternative Yield Pre-merger SPAC ETF	0.00%	0.02%	4.36%
IBTA Ibotta, Inc	43.25%	-65.07%	-36.97%

Correlation

The correlation between SPAX and IBTA is -0.02, 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 (All Time) Calculated using the full available price history since Apr 19, 2024	-0.02

Return for Risk

SPAX vs. IBTA — Risk / Return Rank

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

IBTA

IBTA Risk / Return Rank: 21
IBTA Sharpe Ratio Rank: 19
IBTA Sortino Ratio Rank: 22
IBTA Omega Ratio Rank: 21
IBTA Calmar Ratio Rank: 21
IBTA Martin Ratio Rank: 25

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.

SPAX vs. IBTA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Robinson Alternative Yield Pre-merger SPAC ETF (SPAX) and Ibotta, Inc (IBTA). 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.

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

Sharpe Ratios by Period

	SPAX	IBTA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.52	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	-0.58	—

Drawdowns

Drawdown Indicators

	SPAX	IBTA	Difference
Max Drawdown Largest peak-to-trough decline	—	-82.48%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-61.02%	—
Current Drawdown Current decline from peak	—	-70.37%	—
Average Drawdown Average peak-to-trough decline	—	-55.62%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	42.89%	—

Volatility

Volatility by Period

	SPAX	IBTA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	17.66%	—
Volatility (6M) Calculated over the trailing 6-month period	—	42.18%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	67.92%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	73.18%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	73.18%	—

Dividends

SPAX vs. IBTA - Dividend Comparison

Neither SPAX nor IBTA has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
IBTA Ibotta, Inc	0.00%	0.00%	0.00%	0.00%	0.00%
SPAX Robinson Alternative Yield Pre-merger SPAC ETF	0.00%	0.00%	5.50%	7.54%	0.97%

Frequently Asked Questions

Can I hold both SPAX and IBTA in my portfolio?

SPAX and IBTA have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.