ARKX vs. SPRX

Last updated Jun 13, 2026

ARKX (ARK Space Exploration & Innovation ETF) and SPRX (Spear Alpha ETF) are both exchange-traded funds - ARKX is a Aerospace & Defense fund actively managed by ARK, while SPRX is a Technology Equities fund actively managed by Spear. Both are actively managed. Over the past 3 years, ARKX returned 31.55%/yr vs 43.37%/yr for SPRX. A 0.77 correlation means they provide meaningful diversification when combined. Both charge a 0.75% expense ratio.

Performance

ARKX vs. SPRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ARK Space Exploration & Innovation ETF (ARKX) and Spear Alpha ETF (SPRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARKX achieves a 16.56% return, which is significantly lower than SPRX's 43.69% return.

ARKX

• 1D: -1.94%
• 1M: -2.96%
• YTD: 16.56%
• 6M: 17.78%
• 1Y: 52.99%
• 3Y*: 31.55%
• 5Y*: 10.38%
• 10Y*: —

SPRX

• 1D: 1.50%
• 1M: 12.60%
• YTD: 43.69%
• 6M: 43.35%
• 1Y: 101.77%
• 3Y*: 43.37%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ARKX vs. SPRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ARKX ARK Space Exploration & Innovation ETF	16.56%	48.46%	26.67%	24.37%	-34.27%	-7.19%
SPRX Spear Alpha ETF	43.69%	41.91%	20.58%	88.02%	-44.99%	9.15%

Correlation

The correlation between ARKX and SPRX is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (All Time) Calculated using the full available price history since Aug 4, 2021	0.77

The correlation between ARKX and SPRX has been stable across timeframes, ranging from 0.72 to 0.77 - a consistent structural relationship.

ARKX vs. SPRX - Sectors Allocation Comparison

Sectors	ARKX	SPRX
Industrials	55.7%	15.5%
Technology	27.4%	72.7%
Consumer Cyclical	7.8%	-
Communication Services	7.6%	3.9%
Healthcare	1.5%	-
Basic Materials	0.0%	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	8.0%
Real Estate	-	-
Utilities	-	1.4%

Return for Risk

ARKX vs. SPRX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ARKX

ARKX Risk / Return Rank: 51
ARKX Sharpe Ratio Rank: 53
ARKX Sortino Ratio Rank: 50
ARKX Omega Ratio Rank: 45
ARKX Calmar Ratio Rank: 60
ARKX Martin Ratio Rank: 47

SPRX

SPRX Risk / Return Rank: 75
SPRX Sharpe Ratio Rank: 81
SPRX Sortino Ratio Rank: 65
SPRX Omega Ratio Rank: 66
SPRX Calmar Ratio Rank: 86
SPRX Martin Ratio Rank: 78

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ARKX vs. SPRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ARK Space Exploration & Innovation ETF (ARKX) and Spear Alpha ETF (SPRX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ARKX	SPRX	Difference
Sharpe ratio: Return per unit of total volatility	1.59	2.23	-0.64
Sortino ratio: Return per unit of downside risk	2.15	2.61	-0.46
Omega ratio: Gain probability vs. loss probability	1.26	1.34	-0.09
Calmar ratio: Return relative to maximum drawdown	2.61	4.23	-1.62
Martin ratio: Return relative to average drawdown	6.87	13.10	-6.23

ARKX vs. SPRX - Sharpe Ratio Comparison

The current ARKX Sharpe Ratio is 1.59, which is comparable to the SPRX Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of ARKX and SPRX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ARKX vs. SPRX - Drawdown Comparison

The maximum ARKX drawdown since its inception was -43.61%, smaller than the maximum SPRX drawdown of -51.21%. Use the drawdown chart below to compare losses from any high point for ARKX and SPRX.

Drawdown Indicators

	ARKX	SPRX	Difference
Max Drawdown Largest peak-to-trough decline	-43.61%	-51.21%	+7.60%
Max Drawdown (1Y) Largest decline over 1 year	-20.42%	-24.21%	+3.79%
Max Drawdown (3Y) Largest decline over 3 years	-25.47%	-42.12%	+16.65%
Max Drawdown (5Y) Largest decline over 5 years	-43.61%	—	—
Current Drawdown Current decline from peak	-10.49%	-5.87%	-4.62%
Average Drawdown Average peak-to-trough decline	-19.92%	-17.58%	-2.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.74%	7.80%	-0.06%

Volatility

ARKX vs. SPRX - Volatility Comparison

The current volatility for ARK Space Exploration & Innovation ETF (ARKX) is 12.77%, while Spear Alpha ETF (SPRX) has a volatility of 19.77%. This indicates that ARKX experiences smaller price fluctuations and is considered to be less risky than SPRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARKX	SPRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.77%	19.77%	-7.00%
Volatility (6M) Calculated over the trailing 6-month period	26.51%	38.52%	-12.01%
Volatility (1Y) Calculated over the trailing 1-year period	33.50%	45.91%	-12.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.02%	42.15%	-14.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.65%	42.15%	-14.50%

ARKX vs. SPRX - Expense Ratio Comparison

Both ARKX and SPRX have an expense ratio of 0.75%.

Dividends

ARKX vs. SPRX - Dividend Comparison

Neither ARKX nor SPRX has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
ARKX ARK Space Exploration & Innovation ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPRX Spear Alpha ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.25%

Frequently Asked Questions

Can I hold both ARKX and SPRX in my portfolio?

ARKX and SPRX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARKX or SPRX?

SPRX has higher volatility (19.77%) compared to ARKX (12.77%). In terms of maximum drawdown, ARKX dropped -43.61% vs SPRX's -51.21%.

Which ETF is better, ARKX or SPRX?

On 3-year performance, SPRX leads with 43.37% vs 31.55% for ARKX. Both ETFs have the same 0.75% expense ratio. On volatility, ARKX has been the lower-risk option at 12.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ARKX or SPRX?

Over the 3-year period, SPRX has performed better with a 43.37% return vs 31.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ARKX or SPRX?

ARKX and SPRX have the same expense ratio: 0.75% per year.

Which ETF pays a higher dividend yield, ARKX or SPRX?

ARKX and SPRX have nearly identical dividend yields, around 0.00%.

What is the main difference between ARKX and SPRX?

ARKX is categorized as Aerospace & Defense, while SPRX is Technology Equities. They also come from different issuers: ARK and Spear.

Which has better risk-adjusted returns?

SPRX currently has the higher Sharpe Ratio (2.23 vs 1.59), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.