Hydroclimatic swings between dry and wet spells are increasing globally, raising concerns due to their severe impacts on society, agriculture, infrastructure systems, and water resource management. These extremes and their projected changes are traditionally assessed in isolation, which can underestimate associated risks and future resilience and adaptation plans. This study investigates climate change projections of such lagged compound dry and wet spells across North America using a single model initial-condition large ensemble (SMILE). Three dry-wet spell indices are merged into an integrated indicator to provide a comprehensive perspective on changing risks. We apply an ensemble pooling approach using the Canadian Regional Climate Model version 4 Large Ensemble (CanRCM4-LE) to enhance sample size for index estimation. Results suggest that hydroclimatic swings across North America are expected to become more frequent and intensified in a warmer climate. Trends of spatial fraction and aggregation during transitions between dry and wet spells indicate future water resource management challenges. Hot spots for intensified transitions with higher frequency, such as Northern Central America, and the southern part of Eastern and Western North America, including Mexico and the state of California, overlap with larger spatial extent and higher aggregation during transitions. The seasonal analysis of spatial characteristics indicates winter may become wetter and summer drier at higher warming levels, potentially intensifying transitions between dry and wet extremes. Clustered hydroclimatic swings may lead to severe environmental, hydrological, and socio-economic consequences, necessitating appropriate mitigation and adaptation measures.