TFPN vs. SPY

Last updated Apr 1, 2026

Compare and contrast key facts about Blueprint Chesapeake Multi-Asset Trend ETF (TFPN) and State Street SPDR S&P 500 ETF (SPY).

TFPN and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TFPN is an actively managed fund by Tidal ETFs. It was launched on Jul 11, 2023. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.

Performance

TFPN vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Blueprint Chesapeake Multi-Asset Trend ETF (TFPN) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

TFPN vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TFPN Blueprint Chesapeake Multi-Asset Trend ETF	8.26%	3.61%	2.67%	-1.60%
SPY State Street SPDR S&P 500 ETF	-4.37%	17.72%	24.89%	7.38%

Returns By Period

In the year-to-date period, TFPN achieves a 8.26% return, which is significantly higher than SPY's -4.37% return.

TFPN

• 1D: 0.73%
• 1M: -5.66%
• YTD: 8.26%
• 6M: 12.04%
• 1Y: 23.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPY

• 1D: 2.91%
• 1M: -4.94%
• YTD: -4.37%
• 6M: -1.82%
• 1Y: 17.59%
• 3Y*: 18.19%
• 5Y*: 11.69%
• 10Y*: 13.98%

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

TFPN vs. SPY - Expense Ratio Comparison

TFPN has a 1.10% expense ratio, which is higher than SPY's 0.09% expense ratio.

TFPN

Blueprint Chesapeake Multi-Asset Trend ETF

SPY

State Street SPDR S&P 500 ETF

Return for Risk

TFPN vs. SPY — Risk / Return Rank

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

TFPN

TFPN Risk / Return Rank: 86
TFPN Sharpe Ratio Rank: 87
TFPN Sortino Ratio Rank: 89
TFPN Omega Ratio Rank: 83
TFPN Calmar Ratio Rank: 90
TFPN Martin Ratio Rank: 82

SPY

SPY Risk / Return Rank: 64
SPY Sharpe Ratio Rank: 56
SPY Sortino Ratio Rank: 60
SPY Omega Ratio Rank: 65
SPY Calmar Ratio Rank: 65
SPY Martin Ratio Rank: 75

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.

TFPN vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Blueprint Chesapeake Multi-Asset Trend ETF (TFPN) and State Street SPDR S&P 500 ETF (SPY). 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.

	TFPN	SPY	Difference
Sharpe ratio Return per unit of total volatility	1.78	0.93	+0.85
Sortino ratio Return per unit of downside risk	2.46	1.45	+1.01
Omega ratio Gain probability vs. loss probability	1.33	1.22	+0.10
Calmar ratio Return relative to maximum drawdown	3.06	1.53	+1.54
Martin ratio Return relative to average drawdown	9.20	7.30	+1.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TFPN vs. SPY - Sharpe Ratio Comparison

The current TFPN Sharpe Ratio is 1.78, which is higher than the SPY Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of TFPN and SPY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TFPN	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.78	0.93	+0.85
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.69	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.56	-0.18

Correlation

The correlation between TFPN and SPY is 0.42, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

TFPN vs. SPY - Dividend Comparison

TFPN has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.14%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TFPN Blueprint Chesapeake Multi-Asset Trend ETF	0.00%	0.00%	0.94%	0.98%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	1.14%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Drawdowns

TFPN vs. SPY - Drawdown Comparison

The maximum TFPN drawdown since its inception was -16.72%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for TFPN and SPY.

Drawdown Indicators

	TFPN	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-16.72%	-55.19%	+38.47%
Max Drawdown (1Y) Largest decline over 1 year	-7.47%	-12.05%	+4.58%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-6.21%	-6.24%	+0.03%
Average Drawdown Average peak-to-trough decline	-5.13%	-9.09%	+3.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.49%	2.52%	-0.03%

Volatility

TFPN vs. SPY - Volatility Comparison

Blueprint Chesapeake Multi-Asset Trend ETF (TFPN) and State Street SPDR S&P 500 ETF (SPY) have volatilities of 5.30% and 5.31%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TFPN	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.30%	5.31%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	11.21%	9.47%	+1.74%
Volatility (1Y) Calculated over the trailing 1-year period	13.40%	19.05%	-5.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.38%	17.06%	-4.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.38%	17.92%	-5.54%