SPCZ vs BULG

Comparison between RIVERNORTH ENHANCED PRE-MERGER SPAC ETF (SPCZ, ETF) and LEVERAGE SHARES 2X LONG BULL DAILY ETF (BULG, ETF).

SPCZ vs BULG - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	SPCZ(ETF)	BULG(ETF)
Net Assets	$6.30M	$6.40M
Expense Ratio	0.90%	N/A
Max Drawdown	12.35%	94.15%
Sharpe Ratio	0.17	-1.62
5Y Beta	-0.00	4.86
P/E Ratio	56.28	N/A
Debt to Equity	-0.03%	N/A
P/B Ratio	1.42	N/A

Net Assets

SPCZ

$6.30M

Winner

BULG

$6.40M

Expense Ratio

SPCZ

0.90%

BULG

N/A

Max Drawdown

Winner

SPCZ

12.35%

BULG

94.15%

Sharpe Ratio

Winner

SPCZ

0.17

BULG

-1.62

5Y Beta

Winner

SPCZ

-0.00

BULG

4.86

P/E Ratio

SPCZ

56.28

BULG

N/A

Debt to Equity

SPCZ

-0.03%

BULG

N/A

P/B Ratio

SPCZ

1.42

BULG

N/A

SPCZ vs BULG - Holdings Comparison

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

SPCZ's top 25 holdings weight is 53.29%. BULG's top 25 holdings weight is 9.65%.

Rank	SPCZ	BULG
#1	STATE STREET INSTL US GOVT MMKT ADMIN (SALXX) - 3.43%	FIRST AMERICAN TREASURY OBLIGS X (FXFXX) - 9.65%
#2	LEGATO MERGER CORP III (LEGT) - 3.18%	N/A
#3	GRAF GLOBAL CORP CLASS A (GRAF) - 3.07%	N/A
#4	n/a (SOCA) - 2.46%	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	n/a (UAC) - 2.35%	N/A
#9	n/a (SCII) - 2.34%	N/A
#10	LEGATO MERGER CORP IV (LEGO) - 2.34%	N/A
#11	n/a (SUMA) - 2.33%	N/A
#12	EQV VENTURES ACQUISITION CORP II CLASS A (EVAC) - 2.31%	N/A
#13	n/a (HCAC) - 2.26%	N/A
#14	INVEST GREEN ACQUISITION CORP CLASS A (IGAC) - 2.25%	N/A
#15	MOUNTAIN LAKE ACQUISITION CORP (n/a) - 1.80%	N/A
#16	GIGCAPITAL9 CORP CLASS A (GIX) - 1.80%	N/A
#17	n/a (AACPU) - 1.61%	N/A
#18	n/a (VECA-U) - 1.60%	N/A
#19	n/a (FMACU) - 1.59%	N/A
#20	n/a (MCAHU) - 1.59%	N/A
#21	n/a (MYXXU) - 1.59%	N/A
#22	n/a (BWIV-U) - 1.58%	N/A
#23	APERTURE AC UNITS (1 ORD CLS A & 1 RTS) (APURU) - 1.58%	N/A
#24	n/a (WENC-U) - 1.58%	N/A
#25	n/a (FXACU) - 1.58%	N/A
Total Holdings	183	1

SPCZ vs BULG - Historical Returns

Returns include dividend reinvestment.

Period	SPCZ	BULG
1 month	+0.59%	-12.22%
3 months	+1.52%	+40.92%
6 months	+1.75%	-54.64%
1 year	+4.01%	-87.60%
Max(CAGR)	+6.41%	-91.59%

Winner

SPCZ

+0.59%

BULG

-12.22%

SPCZ

+1.52%

Winner

BULG

+40.92%

Winner

SPCZ

+1.75%

BULG

-54.64%

Winner

SPCZ

+4.01%

BULG

-87.60%

Max(CAGR)

Winner

SPCZ

+6.41%

BULG

-91.59%

SPCZ vs BULG - Annual Returns (2022 - 2026)

Returns include dividend reinvestment.

Year	SPCZ	BULG
2026	+1.88%	-48.69%
2025	+10.31%	-78.14%
2024	+5.42%	N/A
2023	+6.01%	N/A
2022	+1.95%	N/A

SPCZ vs BULG Drawdown Comparison

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

The maximum drawdown for BULG was -94.15%, occurring on Mar 30, 2026. This drawdown has not yet recovered.

The current SPCZ drawdown is -3.51%. The current BULG drawdown is -89.17%.

Rank	SPCZ	BULG
#1	-4.47% Aug 7, 2024 - Sep 25, 2024	-94.15% Aug 15, 2025 - Mar 30, 2026
#2	-3.82% Apr 29, 2026 - Jun 10, 2026	-7.99% Aug 12, 2025 - Aug 15, 2025
#3	-3.51% Jun 10, 2026 - Jun 15, 2026	N/A
#4	-3.50% Jun 16, 2025 - Jul 23, 2025	N/A
#5	-2.86% Dec 29, 2025 - Apr 29, 2026	N/A
#6	-1.34% Oct 18, 2024 - Dec 23, 2024	N/A
#7	-1.21% Oct 15, 2025 - Dec 29, 2025	N/A
#8	-1.11% Dec 13, 2023 - Jan 4, 2024	N/A
#9	-1.00% Jul 25, 2025 - Aug 19, 2025	N/A
#10	-0.94% Oct 23, 2023 - Nov 2, 2023	N/A
#11	-0.88% Jan 4, 2024 - Feb 9, 2024	N/A
#12	-0.87% Feb 13, 2023 - Mar 30, 2023	N/A
#13	-0.87% Oct 3, 2024 - Oct 18, 2024	N/A
#14	-0.83% Jun 11, 2025 - Jun 16, 2025	N/A
#15	-0.79% Jul 14, 2022 - Oct 19, 2022	N/A

Correlation

Correlation between SPCZ and BULG is -0.59 which considered as a moderate negative correlation - the stocks show some tendency to move in opposite directions.

-0.59

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