SPCZ vs. LDRI
SPCZ (RiverNorth Enhanced Pre-Merger SPAC ETF) and LDRI (iShares iBonds 1-5 Year TIPS Ladder ETF) are both exchange-traded funds - SPCZ is a Financials Equities fund actively managed by RiverNorth, while LDRI is a Inflation-Protected Bonds fund tracking the BlackRock iBonds® 1-5 Year TIPS Ladder Index. SPCZ is actively managed, while LDRI is passively managed. Over the past year, SPCZ returned 4.71% vs 3.78% for LDRI. At a correlation of -0.12, they often move in opposite directions. SPCZ charges 0.90%/yr vs 0.10%/yr for LDRI.
Performance
SPCZ vs. LDRI - Performance Comparison
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Returns By Period
In the year-to-date period, SPCZ achieves a 1.94% return, which is significantly higher than LDRI's 1.37% return.
SPCZ
- 1D
- 0.04%
- 1M
- 0.35%
- YTD
- 1.94%
- 6M
- 2.10%
- 1Y
- 4.71%
- 3Y*
- 6.63%
- 5Y*
- —
- 10Y*
- —
LDRI
- 1D
- -0.12%
- 1M
- -0.16%
- YTD
- 1.37%
- 6M
- 1.10%
- 1Y
- 3.78%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPCZ vs. LDRI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SPCZ RiverNorth Enhanced Pre-Merger SPAC ETF | 1.94% | 10.19% | 0.95% |
LDRI iShares iBonds 1-5 Year TIPS Ladder ETF | 1.37% | 5.94% | 0.10% |
Correlation
The correlation between SPCZ and LDRI is -0.15, 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 | -0.15 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2024 | -0.12 |
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Return for Risk
SPCZ vs. LDRI — Risk / Return Rank
SPCZ
LDRI
SPCZ vs. LDRI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for RiverNorth Enhanced Pre-Merger SPAC ETF (SPCZ) and iShares iBonds 1-5 Year TIPS Ladder ETF (LDRI). 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.
| SPCZ | LDRI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.44 | ||
| Sortino ratioReturn per unit of downside risk | -2.04 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.42 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 1.24 | 6.33 | -5.09 |
| Martin ratioReturn relative to average drawdown | 2.88 | 16.42 | -13.54 |
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Drawdowns
SPCZ vs. LDRI - Drawdown Comparison
The maximum SPCZ drawdown since its inception was -4.47%, which is greater than LDRI's maximum drawdown of -0.85%. Use the drawdown chart below to compare losses from any high point for SPCZ and LDRI.
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Drawdown Indicators
| SPCZ | LDRI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.47% | -0.85% | -3.62% |
Max Drawdown (1Y)Largest decline over 1 year | -3.82% | -0.60% | -3.22% |
Max Drawdown (3Y)Largest decline over 3 years | -4.47% | — | — |
Current DrawdownCurrent decline from peak | -3.37% | -0.58% | -2.79% |
Average DrawdownAverage peak-to-trough decline | -0.53% | -0.20% | -0.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.66% | 0.23% | +1.43% |
Volatility
SPCZ vs. LDRI - Volatility Comparison
RiverNorth Enhanced Pre-Merger SPAC ETF (SPCZ) has a higher volatility of 5.66% compared to iShares iBonds 1-5 Year TIPS Ladder ETF (LDRI) at 0.66%. This indicates that SPCZ's price experiences larger fluctuations and is considered to be riskier than LDRI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPCZ | LDRI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.66% | 0.66% | +5.00% |
Volatility (6M)Calculated over the trailing 6-month period | 8.35% | 1.48% | +6.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.44% | 1.96% | +7.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.22% | 2.29% | +3.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.22% | 2.29% | +3.93% |
SPCZ vs. LDRI - Expense Ratio Comparison
SPCZ has a 0.90% expense ratio, which is higher than LDRI's 0.10% expense ratio.
Dividends
SPCZ vs. LDRI - Dividend Comparison
SPCZ's dividend yield for the trailing twelve months is around 11.83%, more than LDRI's 3.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
LDRI iShares iBonds 1-5 Year TIPS Ladder ETF | 3.54% | 4.23% | 0.83% | 0.00% | 0.00% |
SPCZ RiverNorth Enhanced Pre-Merger SPAC ETF | 11.83% | 12.06% | 4.24% | 5.01% | 0.22% |
Frequently Asked Questions
SPCZ and LDRI have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPCZ has higher volatility (5.66%) compared to LDRI (0.66%). In terms of maximum drawdown, SPCZ dropped -4.47% vs LDRI's -0.85%.
On 1-year performance, SPCZ leads with 4.71% vs 3.78% for LDRI. On fees, LDRI is cheaper at 0.10% per year. On volatility, LDRI has been the lower-risk option at 0.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SPCZ has performed better with a 4.71% return vs 3.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LDRI is cheaper with a 0.10% expense ratio, compared with 0.90% for SPCZ.
SPCZ has the higher dividend yield at 11.83%, compared with 3.54% for LDRI.
SPCZ is categorized as Financials Equities, while LDRI is Inflation-Protected Bonds. They also come from different issuers: RiverNorth and iShares. Their fees differ too: 0.90% for SPCZ and 0.10% for LDRI.
LDRI currently has the higher Sharpe Ratio (1.94 vs 0.50), 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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