SPAQ vs VTI
Horizon Kinetics SPAC Active ETF vs Vanguard Morningstar Total Stock Market ETF
Which is better, SPAQ or VTI?
VTI has been ahead.
VTI has a lower expense ratio. VTI led over 1Y, 3Y 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 | SPAQ | VTI |
|---|---|---|
| Expense Ratio | 0.85% | 0.03%Best |
| AUM | $10M | $689.2B |
| Dividend Yield | 16.23% | 1.06% |
| Holdings | 62 | 3,524 |
| YTD Return | +2.70% | +13.02%Best |
| 1Y Return | +1.25% | +16.63%Best |
| 3Y Return (annualized) | +6.06% | +21.97%Best |
| 5Y Return (annualized) | - | +11.99% |
| Volatility (annualized) | 3.0%Best | 12.7% |
| Max Drawdown | -5.3%Best | -19.3% |
| $10,000 over 3.7 years | $12,493 | $19,669Best |
| Fund Family | Horizon Kinetics LLC | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jan 27, 2023 | May 24, 2001 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 3.7 years row, are measured over the window both funds cover: Jan 30, 2023 to Oct 14, 2026 (3.7 years).
SPAQ vs VTI 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 3.7 years both funds cover.
SPAQ vs VTI Performance
Horizon Kinetics SPAC Active ETF (SPAQ) is an ETF from Horizon Kinetics LLC and Vanguard Morningstar Total Stock Market ETF (VTI) is an ETF from Vanguard (US). Over the past year SPAQ returned +1.25% while VTI returned +16.63%. Year to date, SPAQ is up 2.70% versus a gain of 13.02% for VTI.
Over three years, SPAQ compounded at +6.06% per year against +21.97% for VTI. Across the full 4-year window we track, VTI has the edge at +20.06% annualized vs +6.20%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VTI has been the more volatile fund, with annualized monthly volatility of 12.7% 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 -19.3% for VTI. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at -0.01. They move largely independently of each other.
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 16.23% against 1.06% for VTI.
Holdings Overlap
We hold position weights for 48 holdings in SPAQ and 3,441 in VTI, totalling 89.9% and 98.1% of the two funds. That is not enough of SPAQ to divide by, so no overlap percentage is shown here. Within what we can see, 1 positions appear in both.
1 positions in common, counted across the 48 positions we hold weights for in SPAQ and 3,441 in VTI, against full books of 62 and 3,524.
Top Shared Holdings
| Stock | Weight in SPAQ | Weight in VTI | Difference |
|---|---|---|---|
| AVPTAvepoint Inc | 0.09% | 0.00% | 0.09% |
You are not choosing between two funds in isolation.
Whichever of SPAQ and VTI 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, SPAQ or VTI?
SPAQ has an expense ratio of 0.85% while VTI charges 0.03%. VTI is the cheaper option, by $82 a year on a $10,000 investment.
Which performed better, SPAQ or VTI?
Over the past year SPAQ returned +1.25% vs +16.63% for VTI, so VTI leads on 1-year performance. Over the longest common window we track (4 years), SPAQ annualized +6.20% vs +20.06% for VTI. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPAQ or VTI?
VTI has been the more volatile fund at 12.7% annualized versus 3.0% for SPAQ. Worst drawdown: SPAQ -5.3% vs VTI -19.3%.
Should I hold both SPAQ and VTI?
SPAQ and VTI have a monthly-return correlation of -0.01, 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, SPAQ or VTI?
SPAQ yields 16.23% while VTI yields 1.06%, so SPAQ currently pays the higher dividend yield.
Is VTI better than SPAQ?
VTI has a lower expense ratio. VTI led over 1Y, 3Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.