SPCZ vs BESO

Comparison between RIVERNORTH ENHANCED PRE-MERGER SPAC ETF (SPCZ, ETF) and GSR Crypto Core3 ETF (BESO, ETF).

SPCZ vs BESO - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	SPCZ(ETF)	BESO(ETF)
Net Assets	$6.30M	$6.40M
Expense Ratio	0.90%	1.00%
Max Drawdown	12.35%	18.04%
Sharpe Ratio	0.22	-3.86
5Y Beta	0.02	1.11
P/E Ratio	56.89	N/A
Debt to Equity	-0.06%	N/A
P/B Ratio	1.43	N/A

Net Assets

SPCZ

$6.30M

Winner

BESO

$6.40M

Expense Ratio

Winner

SPCZ

0.90%

BESO

1.00%

Max Drawdown

Winner

SPCZ

12.35%

BESO

18.04%

Sharpe Ratio

Winner

SPCZ

0.22

BESO

-3.86

5Y Beta

Winner

SPCZ

0.02

BESO

1.11

P/E Ratio

SPCZ

56.89

BESO

N/A

Debt to Equity

SPCZ

-0.06%

BESO

N/A

P/B Ratio

SPCZ

1.43

BESO

N/A

SPCZ vs BESO - Holdings Comparison

SPCZ and BESO have 0 common holdings. Overlap is 0.00%

SPCZ's top 25 holdings weight is 53.55%. BESO's top 25 holdings weight is 98.38%.

Rank	SPCZ	BESO
#1	STATE STREET INSTL US GOVT MMKT ADMIN (SALXX) - 3.68%	ISHARES STAKED ETHEREUM ETF (ETHB) - 50.20%
#2	LEGATO MERGER CORP III (LEGT) - 3.16%	BITWISE SOLANA STAKING ETF (BSOL) - 41.21%
#3	GRAF GLOBAL CORP CLASS A (GRAF) - 3.07%	GRAYSCALE BITCOIN MINI TRUST ETF (BTC) - 6.97%
#4	n/a (SOCA) - 2.45%	N/A
#5	n/a (AEAQ) - 2.36%	N/A
#6	n/a (BIXI) - 2.36%	N/A
#7	n/a (ZKP) - 2.35%	N/A
#8	LEGATO MERGER CORP IV (LEGO) - 2.34%	N/A
#9	n/a (SCII) - 2.34%	N/A
#10	n/a (UAC) - 2.34%	N/A
#11	n/a (SUMA) - 2.33%	N/A
#12	EQV VENTURES ACQUISITION CORP II CLASS A (EVAC) - 2.32%	N/A
#13	INVEST GREEN ACQUISITION CORP CLASS A (IGAC) - 2.25%	N/A
#14	n/a (HCAC) - 2.25%	N/A
#15	MOUNTAIN LAKE ACQUISITION CORP (n/a) - 1.84%	N/A
#16	GIGCAPITAL9 CORP CLASS A (GIX) - 1.80%	N/A
#17	n/a (FMACU) - 1.60%	N/A
#18	n/a (VECA-U) - 1.60%	N/A
#19	n/a (MCAHU) - 1.59%	N/A
#20	n/a (AACPU) - 1.59%	N/A
#21	n/a (BWIV-U) - 1.59%	N/A
#22	n/a (MYXXU) - 1.59%	N/A
#23	n/a (WENC-U) - 1.59%	N/A
#24	n/a (QLEP-U) - 1.58%	N/A
#25	APERTURE AC UNITS (1 ORD CLS A & 1 RTS) (APURU) - 1.58%	N/A
Total Holdings	182	3

SPCZ vs BESO - Historical Returns

Returns include dividend reinvestment.

Period	SPCZ	BESO
1 month	+0.94%	-13.15%
3 months	+0.57%	N/A
6 months	+1.81%	N/A
1 year	+5.04%	N/A
Max(CAGR)	+6.43%	-71.42%

Winner

SPCZ

+0.94%

BESO

-13.15%

SPCZ

+0.57%

BESO

N/A

SPCZ

+1.81%

BESO

N/A

SPCZ

+5.04%

BESO

N/A

Max(CAGR)

Winner

SPCZ

+6.43%

BESO

-71.42%

SPCZ vs BESO - Annual Returns (2022 - 2026)

Returns include dividend reinvestment.

Year	SPCZ	BESO
2026	+1.79%	-14.00%
2025	+10.31%	N/A
2024	+5.42%	N/A
2023	+6.01%	N/A
2022	+1.95%	N/A

SPCZ vs BESO Drawdown Comparison

The maximum drawdown for SPCZ was -4.47%, occurring on Sep 3, 2024. Recovery took 34 trading sessions.

The maximum drawdown for BESO was -18.04%, occurring on Jun 3, 2026. This drawdown has not yet recovered.

The current SPCZ drawdown is -1.34%. The current BESO drawdown is -17.38%.

Rank	SPCZ	BESO
#1	-4.47% Aug 7, 2024 - Sep 25, 2024	-18.04% May 11, 2026 - Jun 3, 2026
#2	-3.82% Apr 29, 2026 - Apr 30, 2026	-6.47% Apr 22, 2026 - May 8, 2026
#3	-3.50% Jun 16, 2025 - Jul 23, 2025	N/A
#4	-2.86% Dec 29, 2025 - Apr 29, 2026	N/A
#5	-1.34% Oct 18, 2024 - Dec 23, 2024	N/A
#6	-1.21% Oct 15, 2025 - Dec 29, 2025	N/A
#7	-1.11% Dec 13, 2023 - Jan 4, 2024	N/A
#8	-1.00% Jul 25, 2025 - Aug 19, 2025	N/A
#9	-0.94% Oct 23, 2023 - Nov 2, 2023	N/A
#10	-0.88% Jan 4, 2024 - Feb 9, 2024	N/A
#11	-0.87% Feb 13, 2023 - Mar 30, 2023	N/A
#12	-0.87% Oct 3, 2024 - Oct 18, 2024	N/A
#13	-0.83% Jun 11, 2025 - Jun 16, 2025	N/A
#14	-0.79% Jul 14, 2022 - Oct 19, 2022	N/A
#15	-0.75% Jan 10, 2025 - Feb 6, 2025	N/A

Correlation

Correlation between SPCZ and BESO is -0.96 which considered as a very strong negative correlation - the stocks move almost identically in opposite directions.

-0.96

-101