NOW vs. SPRX

Last updated Jun 9, 2026

NOW (ServiceNow, Inc) is a stock, while SPRX (Spear Alpha ETF) is Technology Equities fund actively managed by Spear. Over the past 3 years, NOW returned 2.25%/yr vs 44.05%/yr for SPRX. A 0.59 correlation means they provide meaningful diversification when combined.

Performance

NOW vs. SPRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ServiceNow, Inc (NOW) 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, NOW achieves a -25.46% return, which is significantly lower than SPRX's 39.82% return.

NOW

• 1D: 1.55%
• 1M: 25.24%
• YTD: -25.46%
• 6M: -33.11%
• 1Y: -44.58%
• 3Y*: 2.25%
• 5Y*: 4.20%
• 10Y*: 22.66%

SPRX

• 1D: 4.65%
• 1M: 17.24%
• YTD: 39.82%
• 6M: 30.97%
• 1Y: 97.11%
• 3Y*: 44.05%
• 5Y*: —
• 10Y*: —

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

NOW vs. SPRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
NOW ServiceNow, Inc	-25.46%	-27.75%	50.05%	81.96%	-40.18%	9.38%
SPRX Spear Alpha ETF	39.82%	41.91%	20.58%	88.02%	-44.99%	8.91%

Correlation

The correlation between NOW and SPRX is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (All Time) Calculated using the full available price history since Aug 5, 2021	0.59

Over the past year, the correlation between NOW and SPRX has dropped to 0.10 - well below their long-term average of 0.59, suggesting their price drivers have been diverging.

Return for Risk

NOW vs. SPRX — Risk / Return Rank

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

NOW

NOW Risk / Return Rank: 10
NOW Sharpe Ratio Rank: 7
NOW Sortino Ratio Rank: 9
NOW Omega Ratio Rank: 9
NOW Calmar Ratio Rank: 14
NOW Martin Ratio Rank: 10

SPRX

SPRX Risk / Return Rank: 71
SPRX Sharpe Ratio Rank: 75
SPRX Sortino Ratio Rank: 60
SPRX Omega Ratio Rank: 62
SPRX Calmar Ratio Rank: 83
SPRX Martin Ratio Rank: 74

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.

NOW vs. SPRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ServiceNow, Inc (NOW) 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.

	NOW	SPRX	Difference
Sharpe ratio: Return per unit of total volatility	-0.90	2.17	-3.07
Sortino ratio: Return per unit of downside risk	-1.24	2.55	-3.79
Omega ratio: Gain probability vs. loss probability	0.84	1.34	-0.50
Calmar ratio: Return relative to maximum drawdown	-0.74	4.03	-4.77
Martin ratio: Return relative to average drawdown	-1.33	12.67	-14.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NOW vs. SPRX - Sharpe Ratio Comparison

The current NOW Sharpe Ratio is -0.90, which is lower than the SPRX Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of NOW 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

	NOW	SPRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.90	2.17	-3.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.54	+0.07

Drawdowns

NOW vs. SPRX - Drawdown Comparison

The maximum NOW drawdown since its inception was -64.54%, which is greater than SPRX's maximum drawdown of -51.21%. Use the drawdown chart below to compare losses from any high point for NOW and SPRX.

Drawdown Indicators

	NOW	SPRX	Difference
Max Drawdown Largest peak-to-trough decline	-64.54%	-51.21%	-13.33%
Max Drawdown (1Y) Largest decline over 1 year	-60.28%	-24.21%	-36.07%
Max Drawdown (3Y) Largest decline over 3 years	-64.54%	-42.12%	-22.42%
Max Drawdown (5Y) Largest decline over 5 years	-64.54%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-64.54%	—	—
Current Drawdown Current decline from peak	-51.22%	-8.41%	-42.81%
Average Drawdown Average peak-to-trough decline	-13.74%	-17.62%	+3.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.44%	7.69%	+25.75%

Volatility

NOW vs. SPRX - Volatility Comparison

ServiceNow, Inc (NOW) has a higher volatility of 24.74% compared to Spear Alpha ETF (SPRX) at 18.67%. This indicates that NOW's price experiences larger fluctuations and is considered to be riskier than SPRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NOW	SPRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.74%	18.67%	+6.07%
Volatility (6M) Calculated over the trailing 6-month period	46.58%	37.41%	+9.17%
Volatility (1Y) Calculated over the trailing 1-year period	49.79%	45.02%	+4.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.41%	42.01%	+1.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.82%	42.01%	-1.19%

Dividends

NOW vs. SPRX - Dividend Comparison

Neither NOW nor SPRX has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
NOW ServiceNow, Inc	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 NOW and SPRX in my portfolio?

NOW and SPRX have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NOW or SPRX?

NOW has higher volatility (24.74%) compared to SPRX (18.67%). In terms of maximum drawdown, NOW dropped -64.54% vs SPRX's -51.21%.

Which has better risk-adjusted returns?

SPRX currently has the higher Sharpe Ratio (2.17 vs -0.90), 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.