SPY vs. ARKK

Last updated Aug 1, 2026

SPY (State Street SPDR S&P 500 ETF) and ARKK (ARK Innovation ETF) are both exchange-traded funds - SPY is a S&P 500 fund tracking the S&P 500 Index, while ARKK is a Technology Equities fund actively managed by ARK. SPY is passively managed, while ARKK is actively managed. Over the past 10 years, SPY returned 15.07%/yr vs 14.31%/yr for ARKK. Their 0.68 correlation means they have sometimes moved together and sometimes differently. SPY charges 0.09%/yr vs 0.75%/yr for ARKK.

Performance

SPY vs. ARKK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR S&P 500 ETF (SPY) and ARK Innovation ETF (ARKK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPY achieves a 10.13% return, which is significantly higher than ARKK's -7.38% return. Over the past 10 years, SPY has outperformed ARKK with an annualized return of 15.07%, while ARKK has yielded a comparatively lower 14.31% annualized return.

SPY

• 1D: 0.72%
• 1M: 0.17%
• 6M: 8.53%
• YTD: 10.13%
• 1Y: 19.50%
• 3Y*: 19.32%
• 5Y*: 12.76%
• 10Y*: 15.07%
• ALL TIME*: 10.79%

ARKK

• 1D: -2.28%
• 1M: -12.96%
• 6M: -4.85%
• YTD: -7.38%
• 1Y: -5.43%
• 3Y*: 13.25%
• 5Y*: -9.65%
• 10Y*: 14.31%
• ALL TIME*: 12.17%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ARKK ARK Innovation ETF	$356.24M	$389.65M	$523.48M
SPY State Street SPDR S&P 500 ETF	$37.27B	$35.99B	$39.23B

SPY vs. ARKK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPY State Street SPDR S&P 500 ETF	10.13%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%
ARKK ARK Innovation ETF	-7.38%	35.49%	8.40%	69.04%	-66.97%	-23.60%	152.71%	35.08%	3.52%	87.33%

Correlation

The correlation between SPY and ARKK is 0.76, 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.	0.76
Correlation (3Y) Balances recent behavior with more history.	0.75
Correlation (5Y) Shows whether the relationship held over a longer period.	0.73
Correlation (10Y) Provides a long-term view across more market conditions.	0.70
Correlation (All Time) Calculated using the full available price history since Oct 31, 2014	0.68

The correlation between SPY and ARKK has been stable across timeframes, ranging from 0.68 to 0.76 - a consistent structural relationship.

SPY vs. ARKK - Sectors Allocation Comparison

Sectors	SPY	ARKK
Technology	38.4%	25.8%
Financial Services	12.1%	12.8%
Communication Services	9.2%	7.1%
Healthcare	9.1%	32.0%
Consumer Cyclical	8.8%	13.0%
Industrials	8.3%	9.4%
Consumer Defensive	4.5%	-
Energy	3.4%	-
Utilities	2.3%	-
Real Estate	1.9%	-
Basic Materials	1.7%	-

Return for Risk

SPY vs. ARKK — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SPY

SPY Risk / Return Rank: 67
SPY Sharpe Ratio Rank: 67
SPY Sortino Ratio Rank: 64
SPY Omega Ratio Rank: 65
SPY Calmar Ratio Rank: 64
SPY Martin Ratio Rank: 76

ARKK

ARKK Risk / Return Rank: 9
ARKK Sharpe Ratio Rank: 9
ARKK Sortino Ratio Rank: 10
ARKK Omega Ratio Rank: 10
ARKK Calmar Ratio Rank: 8
ARKK Martin Ratio Rank: 8

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SPY vs. ARKK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR S&P 500 ETF (SPY) and ARK Innovation ETF (ARKK). 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.

	SPY	ARKK	Difference
Sharpe ratio: Return per unit of total volatility	1.52	-0.15	+1.67
Sortino ratio: Return per unit of downside risk	2.11	0.05	+2.07
Omega ratio: Gain probability vs. loss probability	1.27	1.01	+0.27
Calmar ratio: Return relative to maximum drawdown	2.20	-0.17	+2.38
Martin ratio: Return relative to average drawdown	9.40	-0.35	+9.75

SPY vs. ARKK - Sharpe Ratio Comparison

The current SPY Sharpe Ratio is 1.52, which is higher than the ARKK Sharpe Ratio of -0.15. The chart below compares the historical Sharpe Ratios of SPY and ARKK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SPY vs. ARKK - Drawdown Comparison

The maximum SPY drawdown since its inception was -55.19%, smaller than the maximum ARKK drawdown of -80.97%. Use the drawdown chart below to compare losses from any high point for SPY and ARKK.

Drawdown Indicators

	SPY	ARKK	Difference
Max Drawdown Largest peak-to-trough decline	-55.19%	-80.97%	+25.78%
Max Drawdown (1Y) Largest decline over 1 year	-8.88%	-31.35%	+22.47%
Max Drawdown (3Y) Largest decline over 3 years	-18.76%	-39.56%	+20.80%
Max Drawdown (5Y) Largest decline over 5 years	-24.50%	-76.27%	+51.77%
Max Drawdown (10Y) Largest decline over 10 years	-33.72%	-80.97%	+47.25%
Current Drawdown Current decline from peak	-1.40%	-53.87%	+52.47%
Average Drawdown Average peak-to-trough decline	-9.01%	-30.38%	+21.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.08%	15.57%	-13.49%

Volatility

SPY vs. ARKK - Volatility Comparison

The current volatility for State Street SPDR S&P 500 ETF (SPY) is 3.58%, while ARK Innovation ETF (ARKK) has a volatility of 10.19%. This indicates that SPY experiences smaller price fluctuations and is considered to be less risky than ARKK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPY	ARKK	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.58%	10.19%	-6.61%
Volatility (6M) Calculated over the trailing 6-month period	10.14%	27.72%	-17.58%
Volatility (1Y) Calculated over the trailing 1-year period	12.89%	36.83%	-23.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.18%	46.55%	-29.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.95%	40.48%	-22.53%

SPY vs. ARKK - Expense Ratio Comparison

SPY has a 0.09% expense ratio, which is lower than ARKK's 0.75% expense ratio.

Dividends

SPY vs. ARKK - Dividend Comparison

SPY's dividend yield for the trailing twelve months is around 1.01%, while ARKK has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARKK ARK Innovation ETF	0.00%	0.00%	0.00%	0.70%	0.00%	0.55%	1.64%	0.38%	3.14%	1.32%	0.00%	2.27%
SPY State Street SPDR S&P 500 ETF	1.01%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both SPY and ARKK in my portfolio?

SPY and ARKK have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPY or ARKK?

ARKK has higher volatility (10.19%) compared to SPY (3.58%). In terms of maximum drawdown, SPY dropped -55.19% vs ARKK's -80.97%.

Which ETF is better, SPY or ARKK?

On 10-year performance, SPY leads with 15.07% vs 14.31% for ARKK. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 3.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPY or ARKK?

Over the 10-year period, SPY has performed better with a 15.07% return vs 14.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPY or ARKK?

SPY is cheaper with a 0.09% expense ratio, compared with 0.75% for ARKK.

Which ETF pays a higher dividend yield, SPY or ARKK?

SPY has the higher dividend yield at 1.01%, compared with 0.00% for ARKK.

What is the main difference between SPY and ARKK?

SPY is categorized as S&P 500, while ARKK is Technology Equities. They also come from different issuers: State Street and ARK. Their fees differ too: 0.09% for SPY and 0.75% for ARKK.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (1.52 vs -0.15), 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.