IRBO vs. SPRX

Last updated Jun 4, 2026

IRBO (iShares Robotics and Artificial Intelligence Multisector ETF) and SPRX (Spear Alpha ETF) are both exchange-traded funds - IRBO is a Robotics fund tracking the NYSE FactSet Global Robotics and Artificial Intelligence Index, while SPRX is a Technology Equities fund actively managed by Spear. IRBO is passively managed, while SPRX is actively managed. Over the past 3 years, IRBO returned 36.54%/yr vs 48.52%/yr for SPRX. Their correlation of 0.87 suggests significant overlap in exposure. IRBO charges 0.47%/yr vs 0.75%/yr for SPRX.

Performance

IRBO vs. SPRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Robotics and Artificial Intelligence Multisector ETF (IRBO) 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, IRBO achieves a 66.09% return, which is significantly higher than SPRX's 50.26% return.

IRBO

• 1D: -0.90%
• 1M: 26.10%
• YTD: 66.09%
• 6M: 63.47%
• 1Y: 112.42%
• 3Y*: 36.54%
• 5Y*: 14.13%
• 10Y*: —

SPRX

• 1D: -1.57%
• 1M: 33.49%
• YTD: 50.26%
• 6M: 44.40%
• 1Y: 109.60%
• 3Y*: 48.52%
• 5Y*: —
• 10Y*: —

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

IRBO vs. SPRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
IRBO iShares Robotics and Artificial Intelligence Multisector ETF	66.09%	29.97%	8.02%	36.37%	-37.89%	-3.11%
SPRX Spear Alpha ETF	50.26%	41.91%	20.58%	88.02%	-44.99%	8.91%

Correlation

The correlation between IRBO and SPRX is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (All Time) Calculated using the full available price history since Aug 5, 2021	0.87

The correlation between IRBO and SPRX has been stable across timeframes, ranging from 0.82 to 0.87 - a consistent structural relationship.

IRBO vs. SPRX - Sectors Allocation Comparison

Sectors	IRBO	SPRX
Technology	83.8%	72.7%
Communication Services	5.5%	3.9%
Industrials	4.7%	15.5%
Utilities	3.2%	1.4%
Consumer Cyclical	2.9%	-
Real Estate	1.2%	-
Consumer Defensive	0.0%	-
Healthcare	0.0%	-
Basic Materials	-	-
Energy	-	-
Financial Services	-	8.0%

Return for Risk

IRBO vs. SPRX — Risk / Return Rank

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

IRBO

IRBO Risk / Return Rank: 90
IRBO Sharpe Ratio Rank: 94
IRBO Sortino Ratio Rank: 88
IRBO Omega Ratio Rank: 87
IRBO Calmar Ratio Rank: 91
IRBO Martin Ratio Rank: 90

SPRX

SPRX Risk / Return Rank: 71
SPRX Sharpe Ratio Rank: 77
SPRX Sortino Ratio Rank: 60
SPRX Omega Ratio Rank: 61
SPRX Calmar Ratio Rank: 83
SPRX Martin Ratio Rank: 75

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.

IRBO vs. SPRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Robotics and Artificial Intelligence Multisector ETF (IRBO) 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.

	IRBO	SPRX	Difference
Sharpe ratio: Return per unit of total volatility	3.78	2.53	+1.25
Sortino ratio: Return per unit of downside risk	4.13	2.89	+1.24
Omega ratio: Gain probability vs. loss probability	1.55	1.38	+0.17
Calmar ratio: Return relative to maximum drawdown	6.01	4.55	+1.46
Martin ratio: Return relative to average drawdown	20.88	14.41	+6.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IRBO vs. SPRX - Sharpe Ratio Comparison

The current IRBO Sharpe Ratio is 3.78, which is higher than the SPRX Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of IRBO 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.

Sharpe Ratios by Period

	IRBO	SPRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.78	2.53	+1.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.59	+0.04

Drawdowns

IRBO vs. SPRX - Drawdown Comparison

The maximum IRBO drawdown since its inception was -54.50%, which is greater than SPRX's maximum drawdown of -51.21%. Use the drawdown chart below to compare losses from any high point for IRBO and SPRX.

Drawdown Indicators

	IRBO	SPRX	Difference
Max Drawdown Largest peak-to-trough decline	-54.50%	-51.21%	-3.29%
Max Drawdown (1Y) Largest decline over 1 year	-18.81%	-24.21%	+5.40%
Max Drawdown (3Y) Largest decline over 3 years	-32.44%	-42.12%	+9.68%
Max Drawdown (5Y) Largest decline over 5 years	-50.53%	—	—
Current Drawdown Current decline from peak	-0.90%	-1.57%	+0.67%
Average Drawdown Average peak-to-trough decline	-19.85%	-17.65%	-2.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.40%	7.63%	-2.23%

Volatility

IRBO vs. SPRX - Volatility Comparison

The current volatility for iShares Robotics and Artificial Intelligence Multisector ETF (IRBO) is 12.01%, while Spear Alpha ETF (SPRX) has a volatility of 14.91%. This indicates that IRBO 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

	IRBO	SPRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.01%	14.91%	-2.90%
Volatility (6M) Calculated over the trailing 6-month period	25.12%	35.46%	-10.34%
Volatility (1Y) Calculated over the trailing 1-year period	29.94%	43.53%	-13.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.58%	41.74%	-13.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.75%	41.74%	-13.99%

IRBO vs. SPRX - Expense Ratio Comparison

IRBO has a 0.47% expense ratio, which is lower than SPRX's 0.75% expense ratio.

Dividends

IRBO vs. SPRX - Dividend Comparison

Neither IRBO nor SPRX has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
IRBO iShares Robotics and Artificial Intelligence Multisector ETF	0.00%	0.00%	0.50%	0.88%	0.75%	2.41%	0.53%	0.69%	0.34%
SPRX Spear Alpha ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.25%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IRBO and SPRX in my portfolio?

IRBO and SPRX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IRBO or SPRX?

SPRX has higher volatility (14.91%) compared to IRBO (12.01%). In terms of maximum drawdown, IRBO dropped -54.50% vs SPRX's -51.21%.

Which ETF is better, IRBO or SPRX?

On 3-year performance, SPRX leads with 48.52% vs 36.54% for IRBO. On fees, IRBO is cheaper at 0.47% per year. On volatility, IRBO has been the lower-risk option at 12.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IRBO or SPRX?

Over the 3-year period, SPRX has performed better with a 48.52% return vs 36.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IRBO or SPRX?

IRBO is cheaper with a 0.47% expense ratio, compared with 0.75% for SPRX.

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

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

What is the main difference between IRBO and SPRX?

IRBO is categorized as Robotics, while SPRX is Technology Equities. They also come from different issuers: iShares and Spear. Their fees differ too: 0.47% for IRBO and 0.75% for SPRX.

Which has better risk-adjusted returns?

IRBO currently has the higher Sharpe Ratio (3.78 vs 2.53), 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.