SPCZ vs. XLF
Compare and contrast key facts about RiverNorth Enhanced Pre-Merger SPAC ETF (SPCZ) and Financial Select Sector SPDR Fund (XLF).
SPCZ and XLF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPCZ is an actively managed fund by RiverNorth. It was launched on Jul 11, 2022. XLF is a passively managed fund by State Street that tracks the performance of the Financial Select Sector Index. It was launched on Dec 16, 1998.
Performance
SPCZ vs. XLF - Performance Comparison
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SPCZ vs. XLF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SPCZ RiverNorth Enhanced Pre-Merger SPAC ETF | -0.15% | 10.19% | 5.31% | 5.93% | 1.95% |
XLF Financial Select Sector SPDR Fund | -9.40% | 14.90% | 30.56% | 12.03% | 9.41% |
Returns By Period
In the year-to-date period, SPCZ achieves a -0.15% return, which is significantly higher than XLF's -9.40% return.
SPCZ
- 1D
- -0.04%
- 1M
- -0.78%
- YTD
- -0.15%
- 6M
- 0.39%
- 1Y
- 8.26%
- 3Y*
- 6.38%
- 5Y*
- —
- 10Y*
- —
XLF
- 1D
- 2.09%
- 1M
- -3.51%
- YTD
- -9.40%
- 6M
- -7.56%
- 1Y
- 0.65%
- 3Y*
- 17.25%
- 5Y*
- 9.34%
- 10Y*
- 12.44%
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SPCZ vs. XLF - Expense Ratio Comparison
SPCZ has a 0.90% expense ratio, which is higher than XLF's 0.13% expense ratio.
Return for Risk
SPCZ vs. XLF — Risk / Return Rank
SPCZ
XLF
SPCZ vs. XLF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for RiverNorth Enhanced Pre-Merger SPAC ETF (SPCZ) and Financial Select Sector SPDR Fund (XLF). 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 | XLF | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.33 | 0.03 | +1.29 |
Sortino ratioReturn per unit of downside risk | 1.98 | 0.18 | +1.81 |
Omega ratioGain probability vs. loss probability | 1.33 | 1.02 | +0.30 |
Calmar ratioReturn relative to maximum drawdown | 2.37 | 0.13 | +2.24 |
Martin ratioReturn relative to average drawdown | 6.30 | 0.38 | +5.92 |
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 | XLF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.33 | 0.03 | +1.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.50 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.56 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.22 | 0.20 | +1.02 |
Correlation
The correlation between SPCZ and XLF 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.
Dividends
SPCZ vs. XLF - Dividend Comparison
SPCZ's dividend yield for the trailing twelve months is around 12.08%, more than XLF's 1.60% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPCZ RiverNorth Enhanced Pre-Merger SPAC ETF | 12.08% | 12.06% | 4.24% | 5.01% | 0.22% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XLF Financial Select Sector SPDR Fund | 1.60% | 1.31% | 1.42% | 1.71% | 2.04% | 1.63% | 2.03% | 1.87% | 2.08% | 1.48% | 21.10% | 1.95% |
Drawdowns
SPCZ vs. XLF - Drawdown Comparison
The maximum SPCZ drawdown since its inception was -4.47%, smaller than the maximum XLF drawdown of -82.69%. Use the drawdown chart below to compare losses from any high point for SPCZ and XLF.
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Drawdown Indicators
| SPCZ | XLF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.47% | -82.69% | +78.22% |
Max Drawdown (1Y)Largest decline over 1 year | -3.50% | -14.79% | +11.29% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.81% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.86% | — |
Current DrawdownCurrent decline from peak | -2.77% | -12.01% | +9.24% |
Average DrawdownAverage peak-to-trough decline | -0.43% | -20.10% | +19.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.32% | 4.90% | -3.58% |
Volatility
SPCZ vs. XLF - Volatility Comparison
The current volatility for RiverNorth Enhanced Pre-Merger SPAC ETF (SPCZ) is 1.31%, while Financial Select Sector SPDR Fund (XLF) has a volatility of 4.75%. This indicates that SPCZ experiences smaller price fluctuations and is considered to be less risky than XLF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPCZ | XLF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.31% | 4.75% | -3.44% |
Volatility (6M)Calculated over the trailing 6-month period | 4.19% | 11.45% | -7.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.25% | 19.29% | -13.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.12% | 18.69% | -13.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.12% | 22.19% | -17.07% |