SPCK vs. IPOS

Last updated Jun 24, 2026

SPCK (SPAC and New Issue ETF) and IPOS (Renaissance International IPO ETF) are both exchange-traded funds - SPCK is a Event Driven fund actively managed by Tuttle Capital Management, while IPOS is a Foreign Large Cap Equities fund tracking the Renaissance International IPO Index. SPCK is actively managed, while IPOS is passively managed. Over the past 5 years, SPCK returned -1.74%/yr vs -6.66%/yr for IPOS. At a 0.06 correlation, their price movements are largely independent. SPCK charges 0.95%/yr vs 0.80%/yr for IPOS.

Performance

SPCK vs. IPOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPAC and New Issue ETF (SPCK) and Renaissance International IPO ETF (IPOS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPCK achieves a 0.87% return, which is significantly lower than IPOS's 48.14% return.

SPCK

• 1D: -1.08%
• 1M: -1.90%
• YTD: 0.87%
• 6M: 0.77%
• 1Y: -0.12%
• 3Y*: 3.09%
• 5Y*: -1.74%
• 10Y*: —

IPOS

• 1D: -4.56%
• 1M: 15.69%
• YTD: 48.14%
• 6M: 46.95%
• 1Y: 76.08%
• 3Y*: 20.01%
• 5Y*: -6.66%
• 10Y*: 4.08%

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

SPCK vs. IPOS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SPCK SPAC and New Issue ETF	0.87%	7.81%	2.84%	-4.10%	-12.25%	9.28%	3.39%
IPOS Renaissance International IPO ETF	48.14%	39.93%	-12.34%	-16.49%	-33.46%	-30.62%	4.61%

Correlation

The correlation between SPCK and IPOS is -0.03, 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	-0.03
Correlation (3Y) Calculated over the trailing 3-year period	-0.03
Correlation (5Y) Calculated over the trailing 5-year period	0.02
Correlation (All Time) Calculated using the full available price history since Dec 16, 2020	0.06

SPCK vs. IPOS - Sectors Allocation Comparison

Sectors	SPCK	IPOS
Financial Services	87.1%	7.3%
Healthcare	0.7%	14.9%
Consumer Cyclical	0.0%	6.3%
Basic Materials	-	3.8%
Communication Services	-	0.3%
Consumer Defensive	-	4.2%
Energy	-	4.9%
Industrials	-	13.4%
Real Estate	-	-
Technology	-	50.2%
Utilities	-	3.1%

Return for Risk

SPCK vs. IPOS — Risk / Return Rank

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

SPCK

SPCK Risk / Return Rank: 8
SPCK Sharpe Ratio Rank: 9
SPCK Sortino Ratio Rank: 8
SPCK Omega Ratio Rank: 8
SPCK Calmar Ratio Rank: 9
SPCK Martin Ratio Rank: 9

IPOS

IPOS Risk / Return Rank: 77
IPOS Sharpe Ratio Rank: 79
IPOS Sortino Ratio Rank: 68
IPOS Omega Ratio Rank: 77
IPOS Calmar Ratio Rank: 85
IPOS Martin Ratio Rank: 76

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.

SPCK vs. IPOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPAC and New Issue ETF (SPCK) and Renaissance International IPO ETF (IPOS). 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	IPOS	Difference
Sharpe ratio: Return per unit of total volatility	-0.02	2.36	-2.37
Sortino ratio: Return per unit of downside risk	0.03	2.88	-2.85
Omega ratio: Gain probability vs. loss probability	1.00	1.42	-0.41
Calmar ratio: Return relative to maximum drawdown	-0.02	4.46	-4.48
Martin ratio: Return relative to average drawdown	-0.05	13.34	-13.39

SPCK vs. IPOS - Sharpe Ratio Comparison

The current SPCK Sharpe Ratio is -0.02, which is lower than the IPOS Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of SPCK and IPOS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SPCK vs. IPOS - Drawdown Comparison

The maximum SPCK drawdown since its inception was -28.28%, smaller than the maximum IPOS drawdown of -73.09%. Use the drawdown chart below to compare losses from any high point for SPCK and IPOS.

Drawdown Indicators

	SPCK	IPOS	Difference
Max Drawdown Largest peak-to-trough decline	-28.28%	-73.09%	+44.81%
Max Drawdown (1Y) Largest decline over 1 year	-5.24%	-17.17%	+11.93%
Max Drawdown (3Y) Largest decline over 3 years	-7.72%	-34.08%	+26.36%
Max Drawdown (5Y) Largest decline over 5 years	-20.59%	-69.93%	+49.34%
Max Drawdown (10Y) Largest decline over 10 years	—	-73.09%	—
Current Drawdown Current decline from peak	-17.48%	-37.05%	+19.57%
Average Drawdown Average peak-to-trough decline	-18.83%	-32.02%	+13.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.40%	5.72%	-3.32%

Volatility

SPCK vs. IPOS - Volatility Comparison

The current volatility for SPAC and New Issue ETF (SPCK) is 2.51%, while Renaissance International IPO ETF (IPOS) has a volatility of 15.81%. This indicates that SPCK experiences smaller price fluctuations and is considered to be less risky than IPOS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPCK	IPOS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.51%	15.81%	-13.30%
Volatility (6M) Calculated over the trailing 6-month period	4.32%	29.95%	-25.63%
Volatility (1Y) Calculated over the trailing 1-year period	8.72%	32.50%	-23.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.27%	27.95%	-19.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.23%	24.41%	-15.18%

SPCK vs. IPOS - Expense Ratio Comparison

SPCK has a 0.95% expense ratio, which is higher than IPOS's 0.80% expense ratio.

Dividends

SPCK vs. IPOS - Dividend Comparison

SPCK's dividend yield for the trailing twelve months is around 16.34%, more than IPOS's 0.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IPOS Renaissance International IPO ETF	0.32%	1.04%	0.93%	0.33%	0.00%	0.00%	0.25%	0.89%	1.12%	0.87%	1.73%	1.08%
SPCK SPAC and New Issue ETF	16.34%	16.48%	0.69%	2.27%	0.00%	1.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPCK and IPOS in my portfolio?

SPCK and IPOS have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPCK or IPOS?

IPOS has higher volatility (15.81%) compared to SPCK (2.51%). In terms of maximum drawdown, SPCK dropped -28.28% vs IPOS's -73.09%.

Which ETF is better, SPCK or IPOS?

On 5-year performance, SPCK leads with -1.74% vs -6.66% for IPOS. On fees, IPOS is cheaper at 0.80% per year. On volatility, SPCK has been the lower-risk option at 2.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPCK or IPOS?

Over the 5-year period, SPCK has performed better with a -1.74% return vs -6.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPCK or IPOS?

IPOS is cheaper with a 0.80% expense ratio, compared with 0.95% for SPCK.

Which ETF pays a higher dividend yield, SPCK or IPOS?

SPCK has the higher dividend yield at 16.34%, compared with 0.32% for IPOS.

What is the main difference between SPCK and IPOS?

SPCK is categorized as Event Driven, while IPOS is Foreign Large Cap Equities. They also come from different issuers: Tuttle Capital Management and Renaissance Capital. Their fees differ too: 0.95% for SPCK and 0.80% for IPOS.

Which has better risk-adjusted returns?

IPOS currently has the higher Sharpe Ratio (2.36 vs -0.02), 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.