SPAQ vs VTI
Horizon Kinetics SPAC Active ETF vs Vanguard Morningstar Total Stock Market ETF
Quick Verdict
VTI has a lower expense ratio. VTI delivered stronger 1-year returns. VTI offers more diversification with 3,543 holdings.
Side-by-Side Comparison
| Metric | SPAQ | VTI | Winner |
|---|---|---|---|
| Expense Ratio | 0.85% | 0.03% | |
| AUM | $10M | $666.9B | |
| Dividend Yield | 16.12% | 1.07% | |
| Holdings | 51 | 3,543 | |
| YTD Return | +2.88% | +13.14% | |
| 1Y Return | +4.55% | +22.35% | |
| 3Y Return (annualized) | +6.38% | +21.83% | |
| 5Y Return (annualized) | - | +12.01% | |
| Volatility (annualized) | 3.0% | 15.3% | |
| Max Drawdown | -5.3% | -56.6% | |
| Fund Family | Horizon Kinetics LLC | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Jan 27, 2023 | May 24, 2001 |
SPAQ vs VTI Performance
Horizon Kinetics SPAC Active ETF (SPAQ) is a ETF from Horizon Kinetics LLC and Vanguard Morningstar Total Stock Market ETF (VTI) is a ETF from Vanguard (US). Over the past year SPAQ returned +4.55% while VTI returned +22.35%. Year to date, SPAQ is up 2.88% versus a gain of 13.14% for VTI.
Over three years, SPAQ compounded at +6.38% per year against +21.83% for VTI. Across the full 4-year window we track, VTI has the edge at +8.09% annualized vs +6.52%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VTI has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 3.0% for SPAQ. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -5.3% for SPAQ and -56.6% for VTI. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at -0.04. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPAQ charges 0.85% per year while VTI charges 0.03%. On a $10,000 position that is $85 vs $3 annually, a gap of $82 per year that compounds over a long holding period. On income, SPAQ currently yields 16.12% against 1.07% for VTI.
Holdings Overlap
Frequently Asked Questions
Which is cheaper, SPAQ or VTI?
SPAQ has an expense ratio of 0.85% while VTI charges 0.03%. VTI is the cheaper option. On a $10,000 investment, that is $82 per year of difference.
Which performed better, SPAQ or VTI?
Over the past year SPAQ returned +4.55% vs +22.35% for VTI, so VTI leads on 1-year performance. Over the longest common window we track (4 years), SPAQ annualized +6.52% vs +8.09% for VTI. Past performance does not guarantee future results.
Which is riskier, SPAQ or VTI?
VTI has been the more volatile fund at 15.3% annualized versus 3.0% for SPAQ. Worst drawdown: SPAQ -5.3% vs VTI -56.6%.
Should I hold both SPAQ and VTI?
SPAQ and VTI have a monthly-return correlation of -0.04, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPAQ and VTI?
SPAQ and VTI share 2 common holdings with a 0.0% weight overlap. Combined, they hold 2832 unique securities.
Which pays a higher dividend, SPAQ or VTI?
SPAQ yields 16.12% while VTI yields 1.07%, so SPAQ currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.