SPAX vs. SFYX

Last updated Jun 4, 2026

SPAX (Robinson Alternative Yield Pre-merger SPAC ETF) and SFYX (SoFi Next 500 ETF) are both exchange-traded funds - SPAX is a Event Driven fund actively managed by Toroso Investments, while SFYX is a Mid Cap Growth Equities fund tracking the Solactive SoFi US Next 500 Growth Index. SPAX is actively managed, while SFYX is passively managed. At a 0.02 correlation, their price movements are largely independent. SPAX charges 0.85%/yr vs 0.00%/yr for SFYX.

Performance

SPAX vs. SFYX - Performance Comparison

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

Returns By Period

SPAX

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

SFYX

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

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

SPAX vs. SFYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SPAX Robinson Alternative Yield Pre-merger SPAC ETF	0.00%	0.02%	5.11%	6.63%	1.25%	2.19%
SFYX SoFi Next 500 ETF	5.66%	14.25%	14.45%	17.70%	-22.88%	3.75%

Correlation

The correlation between SPAX and SFYX 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 (1Y) Calculated over the trailing 1-year period	-0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (All Time) Calculated using the full available price history since Jun 24, 2021	0.02

SPAX vs. SFYX - Sectors Allocation Comparison

Sectors	SPAX	SFYX
Financial Services	100.0%	15.9%
Basic Materials	-	3.2%
Communication Services	-	4.5%
Consumer Cyclical	-	9.9%
Consumer Defensive	-	3.0%
Energy	-	4.5%
Healthcare	-	12.1%
Industrials	-	20.5%
Real Estate	-	6.4%
Technology	-	16.9%
Utilities	-	2.2%

Return for Risk

SPAX vs. SFYX - Risk-Adjusted Trends Comparison

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

Drawdowns

Volatility

SPAX vs. SFYX - Expense Ratio Comparison

SPAX has a 0.85% expense ratio, which is higher than SFYX's 0.00% expense ratio.

Dividends

SPAX vs. SFYX - Dividend Comparison

SPAX has not paid dividends to shareholders, while SFYX's dividend yield for the trailing twelve months is around 1.36%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
SFYX SoFi Next 500 ETF	1.36%	1.44%	1.25%	1.51%	1.56%	0.90%	1.16%	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 SPAX and SFYX in my portfolio?

SPAX and SFYX 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.

Which ETF is better, SPAX or SFYX?

On fees, SFYX 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, SPAX or SFYX?

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

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

SFYX has the higher dividend yield at 1.36%, compared with 0.00% for SPAX.

What is the main difference between SPAX and SFYX?

SPAX is categorized as Event Driven, while SFYX is Mid Cap Growth Equities. Their fees differ too: 0.85% for SPAX and 0.00% for SFYX.