PEX vs. SPCZ
Compare and contrast key facts about ProShares Global Listed Private Equity ETF (PEX) and RiverNorth Enhanced Pre-Merger SPAC ETF (SPCZ).
PEX and SPCZ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PEX is a passively managed fund by ProShares that tracks the performance of the LPX Direct Listed Private Equity Index. It was launched on Feb 26, 2013. SPCZ is an actively managed fund by RiverNorth. It was launched on Jul 11, 2022.
Performance
PEX vs. SPCZ - Performance Comparison
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PEX vs. SPCZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
PEX ProShares Global Listed Private Equity ETF | -13.96% | 0.21% | 13.05% | 23.11% | -1.42% |
SPCZ RiverNorth Enhanced Pre-Merger SPAC ETF | -0.15% | 10.19% | 5.31% | 5.93% | 1.95% |
Returns By Period
In the year-to-date period, PEX achieves a -13.96% return, which is significantly lower than SPCZ's -0.15% return.
PEX
- 1D
- 2.67%
- 1M
- -6.84%
- YTD
- -13.96%
- 6M
- -15.90%
- 1Y
- -12.72%
- 3Y*
- 4.51%
- 5Y*
- 0.04%
- 10Y*
- 4.38%
SPCZ
- 1D
- -0.04%
- 1M
- -0.78%
- YTD
- -0.15%
- 6M
- 0.39%
- 1Y
- 8.26%
- 3Y*
- 6.38%
- 5Y*
- —
- 10Y*
- —
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PEX vs. SPCZ - Expense Ratio Comparison
PEX has a 3.13% expense ratio, which is higher than SPCZ's 0.90% expense ratio.
Return for Risk
PEX vs. SPCZ — Risk / Return Rank
PEX
SPCZ
PEX vs. SPCZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Global Listed Private Equity ETF (PEX) and RiverNorth Enhanced Pre-Merger SPAC ETF (SPCZ). 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.
| PEX | SPCZ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.68 | 1.33 | -2.00 |
Sortino ratioReturn per unit of downside risk | -0.87 | 1.98 | -2.85 |
Omega ratioGain probability vs. loss probability | 0.89 | 1.33 | -0.44 |
Calmar ratioReturn relative to maximum drawdown | -0.54 | 2.37 | -2.91 |
Martin ratioReturn relative to average drawdown | -1.39 | 6.30 | -7.69 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PEX | SPCZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.68 | 1.33 | -2.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.00 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.23 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 1.22 | -0.97 |
Correlation
The correlation between PEX and SPCZ is 0.13, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
PEX vs. SPCZ - Dividend Comparison
PEX's dividend yield for the trailing twelve months is around 13.04%, more than SPCZ's 12.08% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PEX ProShares Global Listed Private Equity ETF | 13.04% | 12.80% | 14.11% | 13.02% | 1.77% | 13.64% | 5.52% | 7.94% | 4.72% | 24.26% | 3.24% | 12.50% |
SPCZ RiverNorth Enhanced Pre-Merger SPAC ETF | 12.08% | 12.06% | 4.24% | 5.01% | 0.22% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
PEX vs. SPCZ - Drawdown Comparison
The maximum PEX drawdown since its inception was -49.17%, which is greater than SPCZ's maximum drawdown of -4.47%. Use the drawdown chart below to compare losses from any high point for PEX and SPCZ.
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Drawdown Indicators
| PEX | SPCZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.17% | -4.47% | -44.70% |
Max Drawdown (1Y)Largest decline over 1 year | -24.72% | -3.50% | -21.22% |
Max Drawdown (5Y)Largest decline over 5 years | -36.58% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -49.17% | — | — |
Current DrawdownCurrent decline from peak | -22.24% | -2.77% | -19.47% |
Average DrawdownAverage peak-to-trough decline | -8.08% | -0.43% | -7.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.64% | 1.32% | +8.32% |
Volatility
PEX vs. SPCZ - Volatility Comparison
ProShares Global Listed Private Equity ETF (PEX) has a higher volatility of 6.62% compared to RiverNorth Enhanced Pre-Merger SPAC ETF (SPCZ) at 1.31%. This indicates that PEX's price experiences larger fluctuations and is considered to be riskier than SPCZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PEX | SPCZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.62% | 1.31% | +5.31% |
Volatility (6M)Calculated over the trailing 6-month period | 11.91% | 4.19% | +7.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.91% | 6.25% | +12.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.81% | 5.12% | +12.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.38% | 5.12% | +14.26% |