PWR vs. SPRX
PWR (Quanta Services, Inc.) is a stock, while SPRX (Spear Alpha ETF) is Technology Equities fund actively managed by Spear. Over the past 3 years, PWR returned 56.60%/yr vs 43.37%/yr for SPRX. A 0.57 correlation means they provide meaningful diversification when combined.
Performance
PWR vs. SPRX - Performance Comparison
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Returns By Period
In the year-to-date period, PWR achieves a 67.76% return, which is significantly higher than SPRX's 43.69% return.
PWR
- 1D
- 3.58%
- 1M
- -8.53%
- YTD
- 67.76%
- 6M
- 61.62%
- 1Y
- 97.52%
- 3Y*
- 56.60%
- 5Y*
- 50.60%
- 10Y*
- 41.17%
SPRX
- 1D
- 1.50%
- 1M
- 12.60%
- YTD
- 43.69%
- 6M
- 43.35%
- 1Y
- 101.77%
- 3Y*
- 43.37%
- 5Y*
- —
- 10Y*
- —
PWR vs. SPRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PWR Quanta Services, Inc. | 67.76% | 33.70% | 46.60% | 51.70% | 24.63% | 25.82% |
SPRX Spear Alpha ETF | 43.69% | 41.91% | 20.58% | 88.02% | -44.99% | 9.15% |
Correlation
The correlation between PWR and SPRX is 0.59, 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 | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Aug 4, 2021 | 0.57 |
The correlation between PWR and SPRX has been stable across timeframes, ranging from 0.57 to 0.59 - a consistent structural relationship.
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Return for Risk
PWR vs. SPRX — Risk / Return Rank
PWR
SPRX
PWR vs. SPRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Quanta Services, Inc. (PWR) 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.
| PWR | SPRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.41 | ||
| Sortino ratioReturn per unit of downside risk | +0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.34 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 5.73 | 4.23 | +1.51 |
| Martin ratioReturn relative to average drawdown | 18.09 | 13.10 | +4.99 |
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Drawdowns
PWR vs. SPRX - Drawdown Comparison
The maximum PWR drawdown since its inception was -97.07%, which is greater than SPRX's maximum drawdown of -51.21%. Use the drawdown chart below to compare losses from any high point for PWR and SPRX.
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Drawdown Indicators
| PWR | SPRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.07% | -51.21% | -45.86% |
Max Drawdown (1Y)Largest decline over 1 year | -17.11% | -24.21% | +7.10% |
Max Drawdown (3Y)Largest decline over 3 years | -33.89% | -42.12% | +8.23% |
Max Drawdown (5Y)Largest decline over 5 years | -33.89% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -45.53% | — | — |
Current DrawdownCurrent decline from peak | -9.87% | -5.87% | -4.00% |
Average DrawdownAverage peak-to-trough decline | -46.84% | -17.58% | -29.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.41% | 7.80% | -2.39% |
Volatility
PWR vs. SPRX - Volatility Comparison
The current volatility for Quanta Services, Inc. (PWR) is 13.07%, while Spear Alpha ETF (SPRX) has a volatility of 19.77%. This indicates that PWR 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.
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Volatility by Period
| PWR | SPRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.07% | 19.77% | -6.70% |
Volatility (6M)Calculated over the trailing 6-month period | 30.74% | 38.52% | -7.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 37.12% | 45.91% | -8.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.79% | 42.15% | -6.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.78% | 42.15% | -8.37% |
Dividends
PWR vs. SPRX - Dividend Comparison
PWR's dividend yield for the trailing twelve months is around 0.06%, while SPRX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
PWR Quanta Services, Inc. | 0.06% | 0.09% | 0.09% | 0.15% | 0.25% | 0.16% | 0.29% | 0.42% | 0.13% |
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
PWR and SPRX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPRX has higher volatility (19.77%) compared to PWR (13.07%). In terms of maximum drawdown, PWR dropped -97.07% vs SPRX's -51.21%.
PWR currently has the higher Sharpe Ratio (2.64 vs 2.23), 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.
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