MSMR vs SPE
McElhenny Sheffield Managed Risk ETF vs Special Opportunities Fund Inc
Which is better, MSMR or SPE?
MSMR has been ahead.
MSMR has a lower expense ratio. MSMR 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 | MSMR | SPE |
|---|---|---|
| Expense Ratio | 1.06%Best | 4.89% |
| AUM | $180M | $166M |
| Dividend Yield | 2.05% | 8.78% |
| Holdings | 6 | 158 |
| YTD Return | +0.63%Best | -10.14% |
| 1Y Return | +2.03%Best | -12.08% |
| 3Y Return (annualized) | +14.22%Best | +13.96% |
| 5Y Return (annualized) | +7.93%Best | +5.02% |
| Volatility (annualized) | 10.2%Best | 15.7% |
| Max Drawdown | -14.9%Best | -24.7% |
| $10,000 over 5 years | $14,646Best | $12,775 |
| Fund Family | Aptus Capital Advisors | Special Opportunities Fund |
| Category | Allocation/Balanced | Allocation/Balanced |
| Style | Allocation/Balanced | Allocation/Balanced |
| Inception | Nov 16, 2021 | Jun 8, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Nov 17, 2021 to Oct 14, 2026 (4.9 years).
MSMR vs SPE 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 4.9 years both funds cover.
MSMR vs SPE Performance
McElhenny Sheffield Managed Risk ETF (MSMR) is an ETF from Aptus Capital Advisors and Special Opportunities Fund Inc (SPE) is an ETF from Special Opportunities Fund. Over the past year MSMR returned +2.03% while SPE returned -12.08%. Year to date, MSMR is up 0.63% versus a loss of 10.14% for SPE.
Over three years, MSMR compounded at +14.22% per year against +13.96% for SPE; over five years the annualized figures are +7.93% and +5.02% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPE has been the more volatile fund, with annualized monthly volatility of 15.7% compared with 10.2% for MSMR. 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 -14.9% for MSMR and -24.7% for SPE. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.46. They move together some of the time, and apart the rest.
Fees and Cost Over Time
MSMR charges 1.06% per year while SPE charges 4.89%. On a $10,000 position that is $106 vs $489 annually, a gap of $383 per year that compounds over a long holding period. On income, MSMR currently yields 2.05% against 8.78% for SPE.
Holdings Overlap
We hold position weights for 5 holdings in MSMR and 104 in SPE, totalling 100.0% and 132.7% 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 274 days apart, MSMR as of Oct 1, 2026 and SPE as of Dec 31, 2025, 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 5 positions we hold weights for in MSMR and 104 in SPE, against full books of 6 and 158.
You are not choosing between two funds in isolation.
Whichever of MSMR and SPE 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, MSMR or SPE?
MSMR has an expense ratio of 1.06% while SPE charges 4.89%. MSMR is the cheaper option, by $383 a year on a $10,000 investment.
Which performed better, MSMR or SPE?
Over the past year MSMR returned +2.03% vs -12.08% for SPE, so MSMR leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, MSMR or SPE?
SPE has been the more volatile fund at 15.7% annualized versus 10.2% for MSMR. Worst drawdown: MSMR -14.9% vs SPE -24.7%.
Should I hold both MSMR and SPE?
MSMR and SPE have a monthly-return correlation of 0.46, 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, MSMR or SPE?
MSMR yields 2.05% while SPE yields 8.78%, so SPE currently pays the higher dividend yield.
Is SPE better than MSMR?
MSMR has a lower expense ratio. MSMR 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.