SPCK vs SPY
The SPAC and New Issue ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, SPCK or SPY?
Multi Alternative against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | SPCK | SPY |
|---|---|---|
| Expense Ratio | 2.32% | 0.09%Best |
| AUM | $9M | $814.4B |
| Dividend Yield | 16.36% | 1.01% |
| Holdings | 49 | 505 |
| YTD Return | +1.03% | +12.71%Best |
| 1Y Return | +4.47% | +19.36%Best |
| 3Y Return (annualized) | +3.58% | +21.09%Best |
| 5Y Return (annualized) | -1.49% | +12.69%Best |
| Volatility (annualized) | 8.3%Best | 15.0% |
| Max Drawdown | -28.3% | -24.5%Best |
| $10,000 over 5 years | $9,277 | $18,173Best |
| Fund Family | AXS Investments | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Blend |
| Inception | Dec 15, 2020 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Dec 16, 2020 to Sep 8, 2026 (5.7 years).
SPCK vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 5.7 years both funds cover.
SPCK vs SPY Performance
The SPAC and New Issue ETF (SPCK) is an ETF from AXS Investments and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year SPCK returned +4.47% while SPY returned +19.36%. Year to date, SPCK is up 1.03% versus a gain of 12.71% for SPY.
Over three years, SPCK compounded at +3.58% per year against +21.09% for SPY; over five years the annualized figures are -1.49% and +12.69% respectively. Across the full 6-year window we track, SPY has the edge at +15.02% annualized vs +1.06%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.0% compared with 8.3% for SPCK. 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 -28.3% for SPCK and -24.5% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.12. They move largely independently of each other.
Fees and Cost Over Time
SPCK charges 2.32% per year while SPY charges 0.09%. On a $10,000 position that is $232 vs $9 annually, a gap of $223 per year that compounds over a long holding period. On income, SPCK currently yields 16.36% against 1.01% for SPY.
Holdings Overlap
We hold position weights for 37 holdings in SPCK and 503 in SPY, totalling 89.8% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 216 days apart, SPCK as of Dec 31, 2025 and SPY as of Aug 4, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 37 positions we hold weights for in SPCK and 503 in SPY, against full books of 49 and 505.
You are not choosing between two funds in isolation.
Whichever of SPCK and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SPCK or SPY?
SPCK has an expense ratio of 2.32% while SPY charges 0.09%. SPY is the cheaper option, by $223 a year on a $10,000 investment.
Which performed better, SPCK or SPY?
Over the past year SPCK returned +4.47% vs +19.36% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), SPCK annualized +1.06% vs +15.02% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPCK or SPY?
SPY has been the more volatile fund at 15.0% annualized versus 8.3% for SPCK. Worst drawdown: SPCK -28.3% vs SPY -24.5%.
Should I hold both SPCK and SPY?
SPCK and SPY have a monthly-return correlation of 0.12, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, SPCK or SPY?
SPCK yields 16.36% while SPY yields 1.01%, so SPCK currently pays the higher dividend yield.
Is SPY better than SPCK?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.