FOTO vs. SPRX

Last updated Aug 4, 2026

FOTO (Tuttle Capital Pure Play Photonics ETF) and SPRX (Spear Alpha ETF) are both Technology Equities funds. Both are actively managed. Their correlation of 0.92 means they have usually moved in the same direction. Both charge a 0.75% expense ratio.

Performance

FOTO vs. SPRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tuttle Capital Pure Play Photonics ETF (FOTO) and Spear Alpha ETF (SPRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FOTO

• 1D: 4.81%
• 1M: -7.92%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

SPRX

• 1D: 4.53%
• 1M: -12.28%
• 6M: 9.85%
• YTD: 15.61%
• 1Y: 38.42%
• 3Y*: 33.78%
• 5Y*: 17.38%
• 10Y*: —
• ALL TIME*: 17.45%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FOTO Tuttle Capital Pure Play Photonics ETF	$6.45M	$6.59M	$20.09M
SPRX Spear Alpha ETF	$6.76M	$5.78M	$7.67M

FOTO vs. SPRX - Yearly Performance Comparison

	2026 (YTD)
FOTO Tuttle Capital Pure Play Photonics ETF	-23.30%
SPRX Spear Alpha ETF	-20.57%

Correlation

The correlation between FOTO and SPRX is 0.92, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 29, 2026	0.92

FOTO vs. SPRX - Sectors Allocation Comparison

Sectors	FOTO	SPRX
Technology	98.0%	88.5%
Basic Materials	2.0%	9.2%
Communication Services	-	3.9%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	6.5%
Healthcare	-	2.0%
Industrials	-	5.0%
Real Estate	-	-
Utilities	-	1.4%

Return for Risk

FOTO vs. SPRX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FOTO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

SPRX

SPRX Risk / Return Rank: 33
SPRX Sharpe Ratio Rank: 30
SPRX Sortino Ratio Rank: 33
SPRX Omega Ratio Rank: 33
SPRX Calmar Ratio Rank: 32
SPRX Martin Ratio Rank: 37

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FOTO vs. SPRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tuttle Capital Pure Play Photonics ETF (FOTO) 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.

	FOTO	SPRX	Difference
Sharpe ratio: Return per unit of total volatility	—	0.74	—
Sortino ratio: Return per unit of downside risk	—	1.28	—
Omega ratio: Gain probability vs. loss probability	—	1.16	—
Calmar ratio: Return relative to maximum drawdown	—	1.08	—
Martin ratio: Return relative to average drawdown	—	3.74	—

Drawdowns

FOTO vs. SPRX - Drawdown Comparison

The maximum FOTO drawdown since its inception was -41.14%, smaller than the maximum SPRX drawdown of -51.21%. Use the drawdown chart below to compare losses from any high point for FOTO and SPRX.

Drawdown Indicators

	FOTO	SPRX	Difference
Max Drawdown Largest peak-to-trough decline	-41.14%	-51.21%	+10.07%
Max Drawdown (1Y) Largest decline over 1 year	—	-35.87%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-42.12%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-51.21%	—
Current Drawdown Current decline from peak	-30.07%	-24.26%	-5.81%
Average Drawdown Average peak-to-trough decline	-19.66%	-17.53%	-2.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	10.30%	—

Volatility

Volatility by Period

	FOTO	SPRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	21.39%	—
Volatility (6M) Calculated over the trailing 6-month period	—	43.52%	—
Volatility (1Y) Calculated over the trailing 1-year period	80.72%	52.25%	+28.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	80.72%	43.25%	+37.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	80.72%	43.25%	+37.47%

FOTO vs. SPRX - Expense Ratio Comparison

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

Dividends

FOTO vs. SPRX - Dividend Comparison

Neither FOTO nor SPRX has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
FOTO Tuttle Capital Pure Play Photonics 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 FOTO and SPRX in my portfolio?

With a correlation of 0.92, FOTO and SPRX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, FOTO or SPRX?

Both ETFs have the same 0.75% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FOTO or SPRX?

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

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

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

What is the main difference between FOTO and SPRX?

They also come from different issuers: Tuttle and Spear.