THTA vs. SPAXX
THTA (SoFi Enhanced Yield ETF) and SPAXX (Fidelity Government Money Market Fund) are both funds - THTA is a Derivative Income fund actively managed by SoFi, while SPAXX is a Money Market fund actively managed by Fidelity. Both are actively managed. Over the past year, THTA returned 16.54% vs 3.66% for SPAXX. At a 0.04 correlation, their price movements are largely independent. THTA charges 0.49%/yr vs 0.42%/yr for SPAXX.
Performance
THTA vs. SPAXX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, THTA achieves a 7.57% return, which is significantly higher than SPAXX's 1.37% return.
THTA
- 1D
- -0.06%
- 1M
- 0.77%
- YTD
- 7.57%
- 6M
- 8.24%
- 1Y
- 16.54%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPAXX
- 1D
- 0.00%
- 1M
- 0.28%
- YTD
- 1.37%
- 6M
- 1.67%
- 1Y
- 3.66%
- 3Y*
- 2.42%
- 5Y*
- 1.45%
- 10Y*
- —
THTA vs. SPAXX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
THTA SoFi Enhanced Yield ETF | 7.57% | -10.24% | 7.31% | 0.99% |
SPAXX Fidelity Government Money Market Fund | 1.37% | 3.96% | 1.54% | 0.00% |
Correlation
The correlation between THTA and SPAXX is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2023 | 0.04 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
THTA vs. SPAXX — Risk / Return Rank
THTA
SPAXX
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
THTA vs. SPAXX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SoFi Enhanced Yield ETF (THTA) and Fidelity Government Money Market Fund (SPAXX). 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.
| THTA | SPAXX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.74 | ||
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.77 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 6.30 | — | — |
| Martin ratioReturn relative to average drawdown | 52.38 | — | — |
Loading charts...
Drawdowns
THTA vs. SPAXX - Drawdown Comparison
The maximum THTA drawdown since its inception was -31.41%, which is greater than SPAXX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for THTA and SPAXX.
Loading charts...
Drawdown Indicators
| THTA | SPAXX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.41% | 0.00% | -31.41% |
Max Drawdown (1Y)Largest decline over 1 year | -2.64% | 0.00% | -2.64% |
Max Drawdown (3Y)Largest decline over 3 years | — | 0.00% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | 0.00% | — |
Current DrawdownCurrent decline from peak | -6.17% | 0.00% | -6.17% |
Average DrawdownAverage peak-to-trough decline | -7.49% | 0.00% | -7.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.32% | 0.00% | +0.32% |
Volatility
THTA vs. SPAXX - Volatility Comparison
SoFi Enhanced Yield ETF (THTA) has a higher volatility of 0.96% compared to Fidelity Government Money Market Fund (SPAXX) at 0.28%. This indicates that THTA's price experiences larger fluctuations and is considered to be riskier than SPAXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| THTA | SPAXX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | 0.28% | +0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 4.07% | 0.66% | +3.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.72% | 1.03% | +4.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.04% | 0.69% | +19.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.04% | 0.69% | +19.35% |
THTA vs. SPAXX - Expense Ratio Comparison
THTA has a 0.49% expense ratio, which is higher than SPAXX's 0.42% expense ratio.
Dividends
THTA vs. SPAXX - Dividend Comparison
THTA's dividend yield for the trailing twelve months is around 11.15%, more than SPAXX's 3.59% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
SPAXX Fidelity Government Money Market Fund | 3.59% | 3.88% | 1.53% | 0.41% |
THTA SoFi Enhanced Yield ETF | 11.15% | 12.66% | 12.44% | 0.58% |
Frequently Asked Questions
THTA and SPAXX have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
THTA has higher volatility (0.96%) compared to SPAXX (0.28%). In terms of maximum drawdown, THTA dropped -31.41% vs SPAXX's 0.00%.
SPAXX currently has the higher Sharpe Ratio (3.65 vs 2.90), 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.
Find the right allocation for THTA and SPAXX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer