SPCK vs. IBDT
SPCK (SPAC and New Issue ETF) and IBDT (iShares iBonds Dec 2028 Term Corporate ETF) are both exchange-traded funds - SPCK is a Event Driven fund actively managed by Tuttle Capital Management, while IBDT is a Corporate Bonds fund tracking the Bloomberg December 2028 Maturity Corporate Index. SPCK is actively managed, while IBDT is passively managed. Over the past 5 years, SPCK returned -1.53%/yr vs 1.27%/yr for IBDT. At a 0.05 correlation, their price movements are largely independent. SPCK charges 0.95%/yr vs 0.10%/yr for IBDT.
Performance
SPCK vs. IBDT - Performance Comparison
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Returns By Period
In the year-to-date period, SPCK achieves a 1.97% return, which is significantly higher than IBDT's 0.80% return.
SPCK
- 1D
- -0.09%
- 1M
- -0.83%
- YTD
- 1.97%
- 6M
- 2.02%
- 1Y
- -2.72%
- 3Y*
- 3.47%
- 5Y*
- -1.53%
- 10Y*
- —
IBDT
- 1D
- 0.00%
- 1M
- 0.25%
- YTD
- 0.80%
- 6M
- 1.02%
- 1Y
- 4.28%
- 3Y*
- 5.62%
- 5Y*
- 1.27%
- 10Y*
- —
SPCK vs. IBDT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SPCK SPAC and New Issue ETF | 1.97% | 7.81% | 2.84% | -4.10% | -12.25% | 9.28% | 3.39% |
IBDT iShares iBonds Dec 2028 Term Corporate ETF | 0.80% | 7.02% | 3.97% | 7.72% | -11.42% | -1.90% | 0.56% |
Correlation
The correlation between SPCK and IBDT is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.14 |
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 IBDT shifts across timeframes, from -0.14 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SPCK vs. IBDT — Risk / Return Rank
SPCK
IBDT
SPCK vs. IBDT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPAC and New Issue ETF (SPCK) and iShares iBonds Dec 2028 Term Corporate ETF (IBDT). 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 | IBDT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.97 | ||
| Sortino ratioReturn per unit of downside risk | -4.54 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.55 | -0.61 |
| Calmar ratioReturn relative to maximum drawdown | -0.52 | 4.18 | -4.70 |
| Martin ratioReturn relative to average drawdown | -1.13 | 19.09 | -20.23 |
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Drawdowns
SPCK vs. IBDT - Drawdown Comparison
The maximum SPCK drawdown since its inception was -28.28%, which is greater than IBDT's maximum drawdown of -17.79%. Use the drawdown chart below to compare losses from any high point for SPCK and IBDT.
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Drawdown Indicators
| SPCK | IBDT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.28% | -17.79% | -10.49% |
Max Drawdown (1Y)Largest decline over 1 year | -5.24% | -1.03% | -4.21% |
Max Drawdown (3Y)Largest decline over 3 years | -7.72% | -3.19% | -4.53% |
Max Drawdown (5Y)Largest decline over 5 years | -20.59% | -17.68% | -2.91% |
Current DrawdownCurrent decline from peak | -16.58% | -0.18% | -16.40% |
Average DrawdownAverage peak-to-trough decline | -18.83% | -4.13% | -14.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.64% | 0.22% | +4.42% |
Volatility
SPCK vs. IBDT - Volatility Comparison
SPAC and New Issue ETF (SPCK) has a higher volatility of 2.47% compared to iShares iBonds Dec 2028 Term Corporate ETF (IBDT) at 0.49%. This indicates that SPCK's price experiences larger fluctuations and is considered to be riskier than IBDT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPCK | IBDT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.47% | 0.49% | +1.98% |
Volatility (6M)Calculated over the trailing 6-month period | 4.18% | 1.10% | +3.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.67% | 1.62% | +7.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.25% | 5.06% | +3.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.22% | 6.35% | +2.87% |
SPCK vs. IBDT - Expense Ratio Comparison
SPCK has a 0.95% expense ratio, which is higher than IBDT's 0.10% expense ratio.
Dividends
SPCK vs. IBDT - Dividend Comparison
SPCK's dividend yield for the trailing twelve months is around 16.17%, more than IBDT's 4.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
IBDT iShares iBonds Dec 2028 Term Corporate ETF | 4.55% | 4.56% | 4.67% | 4.10% | 3.25% | 2.45% | 2.80% | 3.32% | 1.47% |
SPCK SPAC and New Issue ETF | 16.17% | 16.48% | 0.69% | 2.27% | 0.00% | 1.28% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPCK and IBDT have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPCK has higher volatility (2.47%) compared to IBDT (0.49%). In terms of maximum drawdown, SPCK dropped -28.28% vs IBDT's -17.79%.
On 5-year performance, IBDT leads with 1.27% vs -1.53% for SPCK. On fees, IBDT is cheaper at 0.10% per year. On volatility, IBDT has been the lower-risk option at 0.49%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IBDT has performed better with a 1.27% return vs -1.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBDT is cheaper with a 0.10% expense ratio, compared with 0.95% for SPCK.
SPCK has the higher dividend yield at 16.17%, compared with 4.55% for IBDT.
SPCK is categorized as Event Driven, while IBDT is Corporate Bonds. They also come from different issuers: Tuttle Capital Management and iShares. Their fees differ too: 0.95% for SPCK and 0.10% for IBDT.
IBDT currently has the higher Sharpe Ratio (2.65 vs -0.32), 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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