SPSK vs. GRNB
SPSK (SP Funds Dow Jones Global Sukuk ETF) and GRNB (VanEck Green Bond ETF) are both Global Bonds funds - SPSK tracks the Dow Jones Sukuk Total Return Index while GRNB tracks the S&P Green Bond U.S. Dollar Select Index. Both are passively managed. Over the past 5 years, SPSK returned 0.75%/yr vs 0.45%/yr for GRNB. Their 0.48 correlation means their historical movements had little consistent relationship. SPSK charges 0.50%/yr vs 0.20%/yr for GRNB.
Performance
SPSK vs. GRNB - Performance Comparison
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Returns By Period
In the year-to-date period, SPSK achieves a -0.36% return, which is significantly lower than GRNB's -0.07% return.
SPSK
- 1D
- 0.03%
- 1M
- -0.68%
- 6M
- -0.40%
- YTD
- -0.36%
- 1Y
- 1.62%
- 3Y*
- 4.06%
- 5Y*
- 0.75%
- 10Y*
- —
- ALL TIME*
- 1.05%
GRNB
- 1D
- -0.11%
- 1M
- -0.88%
- 6M
- -0.39%
- YTD
- -0.07%
- 1Y
- 2.14%
- 3Y*
- 4.91%
- 5Y*
- 0.45%
- 10Y*
- —
- ALL TIME*
- 2.15%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $931.97K | $886.37K | $715.50K | |
| $4.42M | $4.12M | $5.91M |
SPSK vs. GRNB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SPSK SP Funds Dow Jones Global Sukuk ETF | -0.36% | 6.16% | 2.95% | 3.95% | -7.75% | -1.30% | 3.67% | 0.25% |
GRNB VanEck Green Bond ETF | -0.07% | 7.09% | 3.31% | 7.08% | -11.93% | -2.36% | 7.98% | -0.15% |
Correlation
The correlation between SPSK and GRNB is 0.58, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.58 |
Correlation (3Y) Balances recent behavior with more history. | 0.44 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.50 |
Correlation (All Time) Calculated using the full available price history since Dec 30, 2019 | 0.48 |
The correlation between SPSK and GRNB shifts across timeframes, from 0.44 (3 years) to 0.58 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SPSK vs. GRNB — Risk / Return Rank
SPSK
GRNB
SPSK vs. GRNB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SP Funds Dow Jones Global Sukuk ETF (SPSK) and VanEck Green Bond ETF (GRNB). 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.
| SPSK | GRNB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.16 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.67 | 1.06 | -0.40 |
| Martin ratioReturn relative to average drawdown | 2.01 | 3.86 | -1.85 |
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Drawdowns
SPSK vs. GRNB - Drawdown Comparison
The maximum SPSK drawdown since its inception was -12.83%, smaller than the maximum GRNB drawdown of -18.08%. Use the drawdown chart below to compare losses from any high point for SPSK and GRNB.
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Drawdown Indicators
| SPSK | GRNB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.83% | -18.08% | +5.25% |
Max Drawdown (1Y)Largest decline over 1 year | -2.85% | -2.51% | -0.34% |
Max Drawdown (3Y)Largest decline over 3 years | -3.02% | -3.56% | +0.54% |
Max Drawdown (5Y)Largest decline over 5 years | -12.45% | -17.93% | +5.48% |
Current DrawdownCurrent decline from peak | -1.42% | -1.12% | -0.30% |
Average DrawdownAverage peak-to-trough decline | -3.76% | -4.51% | +0.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 0.69% | +0.26% |
Volatility
SPSK vs. GRNB - Volatility Comparison
The current volatility for SP Funds Dow Jones Global Sukuk ETF (SPSK) is 0.71%, while VanEck Green Bond ETF (GRNB) has a volatility of 0.86%. This indicates that SPSK experiences smaller price fluctuations and is considered to be less risky than GRNB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPSK | GRNB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.71% | 0.86% | -0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 2.46% | 2.52% | -0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.67% | 3.01% | +0.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.26% | 4.91% | +0.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.41% | 4.85% | +0.56% |
SPSK vs. GRNB - Expense Ratio Comparison
SPSK has a 0.50% expense ratio, which is higher than GRNB's 0.20% expense ratio.
Dividends
SPSK vs. GRNB - Dividend Comparison
SPSK's dividend yield for the trailing twelve months is around 4.51%, more than GRNB's 4.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
GRNB VanEck Green Bond ETF | 4.03% | 4.18% | 3.83% | 3.17% | 2.60% | 1.97% | 2.24% | 1.79% | 1.21% | 1.09% |
SPSK SP Funds Dow Jones Global Sukuk ETF | 4.51% | 3.63% | 3.53% | 2.95% | 2.22% | 2.56% | 1.78% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPSK and GRNB have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GRNB has higher volatility (0.86%) compared to SPSK (0.71%). In terms of maximum drawdown, SPSK dropped -12.83% vs GRNB's -18.08%.
On 5-year performance, SPSK leads with 0.75% vs 0.45% for GRNB. On fees, GRNB is cheaper at 0.20% per year. On volatility, SPSK has been the lower-risk option at 0.71%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SPSK has performed better with a 0.75% return vs 0.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GRNB is cheaper with a 0.20% expense ratio, compared with 0.50% for SPSK.
SPSK has the higher dividend yield at 4.51%, compared with 4.03% for GRNB.
SPSK tracks Dow Jones Sukuk Total Return Index, while GRNB tracks S&P Green Bond U.S. Dollar Select Index. They also come from different issuers: SP Funds and VanEck. Their fees differ too: 0.50% for SPSK and 0.20% for GRNB.
GRNB currently has the higher Sharpe Ratio (0.88 vs 0.52), 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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