SPCZ vs. EVMT
SPCZ (RiverNorth Enhanced Pre-Merger SPAC ETF) and EVMT (Invesco Electric Vehicle Metals Commodity Strategy No K-1 ETF) are both exchange-traded funds - SPCZ is a Financials Equities fund actively managed by RiverNorth, while EVMT is a Commodities fund actively managed by Invesco. Both are actively managed. Over the past 3 years, SPCZ returned 6.50%/yr vs 4.71%/yr for EVMT. At a correlation of -0.01, they often move in opposite directions. SPCZ charges 0.90%/yr vs 0.59%/yr for EVMT.
Performance
SPCZ vs. EVMT - Performance Comparison
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Returns By Period
In the year-to-date period, SPCZ achieves a 1.51% return, which is significantly lower than EVMT's 13.45% return.
SPCZ
- 1D
- 0.37%
- 1M
- 0.92%
- YTD
- 1.51%
- 6M
- 1.61%
- 1Y
- 4.96%
- 3Y*
- 6.50%
- 5Y*
- —
- 10Y*
- —
EVMT
- 1D
- -1.66%
- 1M
- 2.45%
- YTD
- 13.45%
- 6M
- 22.53%
- 1Y
- 41.86%
- 3Y*
- 4.71%
- 5Y*
- —
- 10Y*
- —
SPCZ vs. EVMT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SPCZ RiverNorth Enhanced Pre-Merger SPAC ETF | 1.51% | 10.19% | 5.31% | 5.93% | 1.95% |
EVMT Invesco Electric Vehicle Metals Commodity Strategy No K-1 ETF | 13.45% | 30.61% | -10.50% | -27.71% | 18.90% |
Correlation
The correlation between SPCZ and EVMT is -0.16, 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 | -0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2022 | -0.01 |
The correlation between SPCZ and EVMT shifts across timeframes, from -0.16 (1 year) to -0.01 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SPCZ vs. EVMT — Risk / Return Rank
SPCZ
EVMT
SPCZ vs. EVMT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for RiverNorth Enhanced Pre-Merger SPAC ETF (SPCZ) and Invesco Electric Vehicle Metals Commodity Strategy No K-1 ETF (EVMT). 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.
| SPCZ | EVMT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.15 | ||
| Sortino ratioReturn per unit of downside risk | -2.80 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.51 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | 1.30 | 5.28 | -3.98 |
| Martin ratioReturn relative to average drawdown | 3.12 | 17.86 | -14.74 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPCZ | EVMT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.64 | 2.79 | -2.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.15 | -0.26 | +1.41 |
Drawdowns
SPCZ vs. EVMT - Drawdown Comparison
The maximum SPCZ drawdown since its inception was -4.47%, smaller than the maximum EVMT drawdown of -48.34%. Use the drawdown chart below to compare losses from any high point for SPCZ and EVMT.
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Drawdown Indicators
| SPCZ | EVMT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.47% | -48.34% | +43.87% |
Max Drawdown (1Y)Largest decline over 1 year | -3.82% | -7.96% | +4.14% |
Max Drawdown (3Y)Largest decline over 3 years | -4.47% | -29.38% | +24.91% |
Current DrawdownCurrent decline from peak | -1.54% | -21.69% | +20.15% |
Average DrawdownAverage peak-to-trough decline | -0.51% | -34.74% | +34.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.59% | 2.35% | -0.76% |
Volatility
SPCZ vs. EVMT - Volatility Comparison
The current volatility for RiverNorth Enhanced Pre-Merger SPAC ETF (SPCZ) is 0.64%, while Invesco Electric Vehicle Metals Commodity Strategy No K-1 ETF (EVMT) has a volatility of 4.51%. This indicates that SPCZ experiences smaller price fluctuations and is considered to be less risky than EVMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPCZ | EVMT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.64% | 4.51% | -3.87% |
Volatility (6M)Calculated over the trailing 6-month period | 6.29% | 13.47% | -7.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.78% | 15.09% | -7.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.59% | 20.51% | -14.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.59% | 20.51% | -14.92% |
SPCZ vs. EVMT - Expense Ratio Comparison
SPCZ has a 0.90% expense ratio, which is higher than EVMT's 0.59% expense ratio.
Dividends
SPCZ vs. EVMT - Dividend Comparison
SPCZ's dividend yield for the trailing twelve months is around 11.88%, more than EVMT's 10.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
EVMT Invesco Electric Vehicle Metals Commodity Strategy No K-1 ETF | 10.40% | 11.80% | 3.62% | 5.49% | 0.86% |
SPCZ RiverNorth Enhanced Pre-Merger SPAC ETF | 11.88% | 12.06% | 4.24% | 5.01% | 0.22% |
Frequently Asked Questions
SPCZ and EVMT have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EVMT has higher volatility (4.51%) compared to SPCZ (0.64%). In terms of maximum drawdown, SPCZ dropped -4.47% vs EVMT's -48.34%.
On 3-year performance, SPCZ leads with 6.50% vs 4.71% for EVMT. On fees, EVMT is cheaper at 0.59% per year. On volatility, SPCZ has been the lower-risk option at 0.64%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SPCZ has performed better with a 6.50% return vs 4.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EVMT is cheaper with a 0.59% expense ratio, compared with 0.90% for SPCZ.
SPCZ has the higher dividend yield at 11.88%, compared with 10.40% for EVMT.
SPCZ is categorized as Financials Equities, while EVMT is Commodities. They also come from different issuers: RiverNorth and Invesco. Their fees differ too: 0.90% for SPCZ and 0.59% for EVMT.
EVMT currently has the higher Sharpe Ratio (2.79 vs 0.64), 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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