SPCX vs. SHYG
Compare and contrast key facts about SPAC and New Issue ETF (SPCX) and iShares 0-5 Year High Yield Corporate Bond ETF (SHYG).
SPCX and SHYG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPCX is an actively managed fund by Tuttle Tactical Management, LLC. It was launched on Dec 16, 2020. SHYG is a passively managed fund by iShares that tracks the performance of the Markit iBoxx USD Liquid High Yield 0-5 Index. It was launched on Oct 15, 2013.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SPCX or SHYG.
Key characteristics
| SPCX | SHYG | |
|---|---|---|
| YTD Return | 2.57% | 7.99% |
| 1Y Return | 2.53% | 12.25% |
| 3Y Return (Ann) | -5.41% | 4.55% |
| Sharpe Ratio | 0.38 | 3.41 |
| Sortino Ratio | 0.64 | 5.50 |
| Omega Ratio | 1.10 | 1.69 |
| Calmar Ratio | 0.13 | 7.04 |
| Martin Ratio | 3.51 | 29.85 |
| Ulcer Index | 1.03% | 0.41% |
| Daily Std Dev | 9.45% | 3.58% |
| Max Drawdown | -28.29% | -19.27% |
| Current Drawdown | -24.32% | -0.46% |
Correlation
The correlation between SPCX and SHYG is 0.08, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
SPCX vs. SHYG - Performance Comparison
In the year-to-date period, SPCX achieves a 2.57% return, which is significantly lower than SHYG's 7.99% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SPCX vs. SHYG - Expense Ratio Comparison
SPCX has a 0.95% expense ratio, which is higher than SHYG's 0.30% expense ratio.
Risk-Adjusted Performance
SPCX vs. SHYG - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPAC and New Issue ETF (SPCX) and iShares 0-5 Year High Yield Corporate Bond ETF (SHYG). 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.
Dividends
SPCX vs. SHYG - Dividend Comparison
SPCX's dividend yield for the trailing twelve months is around 2.22%, less than SHYG's 6.75% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPCX SPAC and New Issue ETF | 2.22% | 2.27% | 0.00% | 1.28% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 6.75% | 6.54% | 5.57% | 4.84% | 5.07% | 5.32% | 5.90% | 5.49% | 5.53% | 5.17% | 4.33% | 0.85% |
Drawdowns
SPCX vs. SHYG - Drawdown Comparison
The maximum SPCX drawdown since its inception was -28.29%, which is greater than SHYG's maximum drawdown of -19.27%. Use the drawdown chart below to compare losses from any high point for SPCX and SHYG. For additional features, visit the drawdowns tool.
Volatility
SPCX vs. SHYG - Volatility Comparison
SPAC and New Issue ETF (SPCX) has a higher volatility of 3.46% compared to iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) at 0.92%. This indicates that SPCX's price experiences larger fluctuations and is considered to be riskier than SHYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.