SPCK vs. BSCS
SPCK (SPAC and New Issue ETF) and BSCS (Invesco BulletShares 2028 Corporate Bond ETF) are both exchange-traded funds - SPCK is a Event Driven fund actively managed by Tuttle Capital Management, while BSCS is a Corporate Bonds fund tracking the NASDAQ BulletShares USD Corporate Bond 2028 TR Index. SPCK is actively managed, while BSCS is passively managed. Over the past 5 years, SPCK returned -1.48%/yr vs 1.15%/yr for BSCS. At a 0.05 correlation, their price movements are largely independent. SPCK charges 0.95%/yr vs 0.10%/yr for BSCS.
Performance
SPCK vs. BSCS - Performance Comparison
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Returns By Period
In the year-to-date period, SPCK achieves a 1.86% return, which is significantly higher than BSCS's 0.86% return.
SPCK
- 1D
- -0.16%
- 1M
- 0.45%
- 6M
- 2.19%
- YTD
- 1.86%
- 1Y
- 1.09%
- 3Y*
- 4.01%
- 5Y*
- -1.48%
- 10Y*
- —
BSCS
- 1D
- -0.15%
- 1M
- -0.05%
- 6M
- 0.91%
- YTD
- 0.86%
- 1Y
- 3.91%
- 3Y*
- 5.43%
- 5Y*
- 1.15%
- 10Y*
- —
SPCK vs. BSCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SPCK SPAC and New Issue ETF | 1.86% | 7.81% | 2.84% | -4.10% | -12.25% | 9.28% | 3.39% |
BSCS Invesco BulletShares 2028 Corporate Bond ETF | 0.86% | 7.04% | 3.87% | 7.62% | -11.24% | -1.89% | 0.67% |
Correlation
The correlation between SPCK and BSCS is -0.09, 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 | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Dec 16, 2020 | 0.05 |
The correlation between SPCK and BSCS shifts across timeframes, from -0.09 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SPCK vs. BSCS — Risk / Return Rank
SPCK
BSCS
SPCK vs. BSCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPAC and New Issue ETF (SPCK) and Invesco BulletShares 2028 Corporate Bond ETF (BSCS). 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.
| SPCK | BSCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.27 | ||
| Sortino ratioReturn per unit of downside risk | -3.64 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.51 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | 0.21 | 3.63 | -3.42 |
| Martin ratioReturn relative to average drawdown | 0.46 | 15.80 | -15.34 |
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Drawdowns
SPCK vs. BSCS - Drawdown Comparison
The maximum SPCK drawdown since its inception was -28.28%, which is greater than BSCS's maximum drawdown of -18.40%. Use the drawdown chart below to compare losses from any high point for SPCK and BSCS.
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Drawdown Indicators
| SPCK | BSCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.28% | -18.40% | -9.88% |
Max Drawdown (1Y)Largest decline over 1 year | -5.24% | -1.08% | -4.16% |
Max Drawdown (3Y)Largest decline over 3 years | -7.72% | -3.00% | -4.72% |
Max Drawdown (5Y)Largest decline over 5 years | -19.94% | -17.63% | -2.31% |
Current DrawdownCurrent decline from peak | -16.67% | -0.28% | -16.39% |
Average DrawdownAverage peak-to-trough decline | -18.81% | -4.15% | -14.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.39% | 0.25% | +2.14% |
Volatility
SPCK vs. BSCS - Volatility Comparison
SPAC and New Issue ETF (SPCK) has a higher volatility of 2.90% compared to Invesco BulletShares 2028 Corporate Bond ETF (BSCS) at 0.53%. This indicates that SPCK's price experiences larger fluctuations and is considered to be riskier than BSCS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPCK | BSCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.90% | 0.53% | +2.37% |
Volatility (6M)Calculated over the trailing 6-month period | 4.79% | 1.11% | +3.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.46% | 1.61% | +4.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.32% | 4.90% | +3.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.23% | 6.20% | +3.03% |
SPCK vs. BSCS - Expense Ratio Comparison
SPCK has a 0.95% expense ratio, which is higher than BSCS's 0.10% expense ratio.
Dividends
SPCK vs. BSCS - Dividend Comparison
SPCK's dividend yield for the trailing twelve months is around 16.18%, more than BSCS's 4.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BSCS Invesco BulletShares 2028 Corporate Bond ETF | 4.46% | 4.46% | 4.54% | 3.90% | 2.72% | 2.14% | 2.50% | 3.04% | 1.42% |
SPCK SPAC and New Issue ETF | 16.18% | 16.48% | 0.69% | 2.27% | 0.00% | 1.28% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPCK and BSCS have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPCK has higher volatility (2.90%) compared to BSCS (0.53%). In terms of maximum drawdown, SPCK dropped -28.28% vs BSCS's -18.40%.
On 5-year performance, BSCS leads with 1.15% vs -1.48% for SPCK. On fees, BSCS is cheaper at 0.10% per year. On volatility, BSCS has been the lower-risk option at 0.53%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BSCS has performed better with a 1.15% return vs -1.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BSCS is cheaper with a 0.10% expense ratio, compared with 0.95% for SPCK.
SPCK has the higher dividend yield at 16.18%, compared with 4.46% for BSCS.
SPCK is categorized as Event Driven, while BSCS is Corporate Bonds. They also come from different issuers: Tuttle Capital Management and Invesco. Their fees differ too: 0.95% for SPCK and 0.10% for BSCS.
BSCS currently has the higher Sharpe Ratio (2.44 vs 0.17), 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.
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