NVDA vs. SPRX

Last updated Jun 9, 2026

NVDA (NVIDIA Corporation) is a stock, while SPRX (Spear Alpha ETF) is Technology Equities fund actively managed by Spear. Over the past 3 years, NVDA returned 75.35%/yr vs 44.05%/yr for SPRX. A 0.70 correlation means they provide meaningful diversification when combined.

Performance

NVDA vs. SPRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NVIDIA Corporation (NVDA) 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, NVDA achieves a 12.01% return, which is significantly lower than SPRX's 39.82% return.

NVDA

• 1D: 1.73%
• 1M: -2.94%
• YTD: 12.01%
• 6M: 12.58%
• 1Y: 47.43%
• 3Y*: 75.35%
• 5Y*: 64.54%
• 10Y*: 68.47%

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)

NVDA vs. SPRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
NVDA NVIDIA Corporation	12.01%	38.92%	171.25%	239.02%	-50.26%	45.11%
SPRX Spear Alpha ETF	39.82%	41.91%	20.58%	88.02%	-44.99%	8.91%

Correlation

The correlation between NVDA and SPRX is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (All Time) Calculated using the full available price history since Aug 5, 2021	0.70

The correlation between NVDA and SPRX shifts across timeframes, from 0.55 (1 year) to 0.70 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NVDA vs. SPRX — Risk / Return Rank

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

NVDA

NVDA Risk / Return Rank: 77
NVDA Sharpe Ratio Rank: 80
NVDA Sortino Ratio Rank: 75
NVDA Omega Ratio Rank: 73
NVDA Calmar Ratio Rank: 79
NVDA Martin Ratio Rank: 79

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.

NVDA vs. SPRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NVIDIA Corporation (NVDA) 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.

	NVDA	SPRX	Difference
Sharpe ratio: Return per unit of total volatility	1.37	2.17	-0.80
Sortino ratio: Return per unit of downside risk	1.94	2.55	-0.61
Omega ratio: Gain probability vs. loss probability	1.24	1.34	-0.10
Calmar ratio: Return relative to maximum drawdown	2.36	4.03	-1.68
Martin ratio: Return relative to average drawdown	5.73	12.67	-6.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NVDA vs. SPRX - Sharpe Ratio Comparison

The current NVDA Sharpe Ratio is 1.37, which is lower than the SPRX Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of NVDA 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

	NVDA	SPRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.37	2.17	-0.80
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.25	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.38	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.54	+0.08

Drawdowns

NVDA vs. SPRX - Drawdown Comparison

The maximum NVDA drawdown since its inception was -89.72%, which is greater than SPRX's maximum drawdown of -51.21%. Use the drawdown chart below to compare losses from any high point for NVDA and SPRX.

Drawdown Indicators

	NVDA	SPRX	Difference
Max Drawdown Largest peak-to-trough decline	-89.72%	-51.21%	-38.51%
Max Drawdown (1Y) Largest decline over 1 year	-20.21%	-24.21%	+4.00%
Max Drawdown (3Y) Largest decline over 3 years	-36.88%	-42.12%	+5.24%
Max Drawdown (5Y) Largest decline over 5 years	-66.34%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-66.34%	—	—
Current Drawdown Current decline from peak	-11.39%	-8.41%	-2.98%
Average Drawdown Average peak-to-trough decline	-36.20%	-17.62%	-18.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.30%	7.69%	+0.61%

Volatility

NVDA vs. SPRX - Volatility Comparison

The current volatility for NVIDIA Corporation (NVDA) is 13.14%, while Spear Alpha ETF (SPRX) has a volatility of 18.67%. This indicates that NVDA 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

	NVDA	SPRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.14%	18.67%	-5.53%
Volatility (6M) Calculated over the trailing 6-month period	26.37%	37.41%	-11.04%
Volatility (1Y) Calculated over the trailing 1-year period	34.81%	45.02%	-10.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.75%	42.01%	+9.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.85%	42.01%	+7.84%

Dividends

NVDA vs. SPRX - Dividend Comparison

NVDA's dividend yield for the trailing twelve months is around 0.14%, while SPRX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NVDA NVIDIA Corporation	0.14%	0.02%	0.03%	0.03%	0.11%	0.05%	0.12%	0.27%	0.46%	0.29%	0.45%	1.20%
SPRX Spear Alpha ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.25%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NVDA and SPRX in my portfolio?

NVDA and SPRX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NVDA or SPRX?

SPRX has higher volatility (18.67%) compared to NVDA (13.14%). In terms of maximum drawdown, NVDA dropped -89.72% vs SPRX's -51.21%.

Which has better risk-adjusted returns?

SPRX currently has the higher Sharpe Ratio (2.17 vs 1.37), 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.