SPSK vs. TMSF

Last updated Jun 4, 2026

SPSK (SP Funds Dow Jones Global Sukuk ETF) and TMSF (T. Rowe Price Multi-Sector Income ETF) are both exchange-traded funds - SPSK is a Global Bonds fund tracking the Dow Jones Sukuk Total Return (No Coupon Reinvestment), while TMSF is a Multisector Bonds fund actively managed by T. Rowe Price. SPSK is passively managed, while TMSF is actively managed. A 0.62 correlation means they provide meaningful diversification when combined. SPSK charges 0.50%/yr vs 0.37%/yr for TMSF.

Performance

SPSK vs. TMSF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SP Funds Dow Jones Global Sukuk ETF (SPSK) and T. Rowe Price Multi-Sector Income ETF (TMSF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPSK achieves a 0.03% return, which is significantly lower than TMSF's 1.71% return.

SPSK

• 1D: -0.22%
• 1M: 0.40%
• YTD: 0.03%
• 6M: -0.08%
• 1Y: 3.74%
• 3Y*: 3.95%
• 5Y*: 0.83%
• 10Y*: —

TMSF

• 1D: -0.20%
• 1M: 0.53%
• YTD: 1.71%
• 6M: 2.23%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SPSK vs. TMSF - Yearly Performance Comparison

	2026 (YTD)	2025
SPSK SP Funds Dow Jones Global Sukuk ETF	0.03%	0.04%
TMSF T. Rowe Price Multi-Sector Income ETF	1.71%	1.29%

Correlation

The correlation between SPSK and TMSF is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 21, 2025	0.62

Return for Risk

SPSK vs. TMSF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPSK

SPSK Risk / Return Rank: 27
SPSK Sharpe Ratio Rank: 27
SPSK Sortino Ratio Rank: 26
SPSK Omega Ratio Rank: 24
SPSK Calmar Ratio Rank: 27
SPSK Martin Ratio Rank: 30

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SPSK vs. TMSF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SP Funds Dow Jones Global Sukuk ETF (SPSK) and T. Rowe Price Multi-Sector Income ETF (TMSF). 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.

	SPSK	TMSF	Difference
Sharpe ratio: Return per unit of total volatility	0.98	—	—
Sortino ratio: Return per unit of downside risk	1.43	—	—
Omega ratio: Gain probability vs. loss probability	1.17	—	—
Calmar ratio: Return relative to maximum drawdown	1.32	—	—
Martin ratio: Return relative to average drawdown	4.43	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SPSK	TMSF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.98	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.16	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	1.99	-1.79

Drawdowns

SPSK vs. TMSF - Drawdown Comparison

The maximum SPSK drawdown since its inception was -12.83%, which is greater than TMSF's maximum drawdown of -2.28%. Use the drawdown chart below to compare losses from any high point for SPSK and TMSF.

Drawdown Indicators

	SPSK	TMSF	Difference
Max Drawdown Largest peak-to-trough decline	-12.83%	-2.28%	-10.55%
Max Drawdown (1Y) Largest decline over 1 year	-2.85%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-3.17%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-12.45%	—	—
Current Drawdown Current decline from peak	-1.03%	-0.25%	-0.78%
Average Drawdown Average peak-to-trough decline	-3.83%	-0.38%	-3.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.84%	—	—

Volatility

Volatility by Period

	SPSK	TMSF	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.96%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.46%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.84%	2.94%	+0.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.29%	2.94%	+2.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.46%	2.94%	+2.52%

SPSK vs. TMSF - Expense Ratio Comparison

SPSK has a 0.50% expense ratio, which is higher than TMSF's 0.37% expense ratio.

Dividends

SPSK vs. TMSF - Dividend Comparison

SPSK's dividend yield for the trailing twelve months is around 4.24%, more than TMSF's 3.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
SPSK SP Funds Dow Jones Global Sukuk ETF	4.24%	3.63%	3.53%	2.95%	2.22%	2.56%	1.78%
TMSF T. Rowe Price Multi-Sector Income ETF	3.06%	0.75%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPSK and TMSF in my portfolio?

SPSK and TMSF have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPSK or TMSF?

On fees, TMSF is cheaper at 0.37% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPSK or TMSF?

TMSF is cheaper with a 0.37% expense ratio, compared with 0.50% for SPSK.

Which ETF pays a higher dividend yield, SPSK or TMSF?

SPSK has the higher dividend yield at 4.24%, compared with 3.06% for TMSF.

What is the main difference between SPSK and TMSF?

SPSK is categorized as Global Bonds, while TMSF is Multisector Bonds. They also come from different issuers: SP Funds and T. Rowe Price. Their fees differ too: 0.50% for SPSK and 0.37% for TMSF.