SPCK vs SPY
The SPAC and New Issue ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SPCK | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 2.32% | 0.09% | |
| AUM | $8M | $789.1B | |
| Dividend Yield | 16.26% | 1.01% | |
| Holdings | 43 | 505 | |
| YTD Return | +1.65% | +13.39% | |
| 1Y Return | +4.50% | +22.52% | |
| 3Y Return (annualized) | +3.80% | +21.36% | |
| 5Y Return (annualized) | -1.28% | +13.19% | |
| Volatility (annualized) | 8.0% | 15.3% | |
| Max Drawdown | -28.3% | -56.5% | |
| Fund Family | AXS Investments | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Dec 15, 2020 | Jan 22, 1993 |
SPCK vs SPY Performance
The SPAC and New Issue ETF (SPCK) is a ETF from AXS Investments and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year SPCK returned +4.50% while SPY returned +22.52%. Year to date, SPCK is up 1.65% versus a gain of 13.39% for SPY.
Over three years, SPCK compounded at +3.80% per year against +21.36% for SPY; over five years the annualized figures are -1.28% and +13.19% respectively. Across the full 6-year window we track, SPY has the edge at +8.84% annualized vs +1.18%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 8.0% 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 -56.5% for SPY. 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 0.11. They move independently enough that combining them can meaningfully diversify a portfolio.
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 16.26% against 1.01% for SPY.
Holdings Overlap
SPCK and SPY share 0 holdings out of 540 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $223 per year of difference.
Which performed better, SPCK or SPY?
Over the past year SPCK returned +4.50% vs +22.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), SPCK annualized +1.18% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, SPCK or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 8.0% for SPCK. Worst drawdown: SPCK -28.3% vs SPY -56.5%.
Should I hold both SPCK and SPY?
SPCK and SPY have a monthly-return correlation of 0.11, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPCK and SPY?
SPCK and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 540 unique securities.
Which pays a higher dividend, SPCK or SPY?
SPCK yields 16.26% while SPY yields 1.01%, so SPCK currently pays the higher dividend yield.
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