SPAX vs. FSPTX

Last updated Aug 2, 2026

SPAX (Robinson Alternative Yield Pre-merger SPAC ETF) and FSPTX (Fidelity Select Technology Portfolio) are both funds - SPAX is a Actively Managed fund actively managed by Toroso Investments, while FSPTX is a Technology Equities fund actively managed by Fidelity. Both are actively managed. Their 0.02 correlation means their historical movements had little consistent relationship. SPAX charges 0.85%/yr vs 0.61%/yr for FSPTX.

Performance

SPAX vs. FSPTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Robinson Alternative Yield Pre-merger SPAC ETF (SPAX) and Fidelity Select Technology Portfolio (FSPTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SPAX

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

FSPTX

• 1D: 3.77%
• 1M: -2.64%
• 6M: 27.84%
• YTD: 30.03%
• 1Y: 46.11%
• 3Y*: 33.19%
• 5Y*: 19.84%
• 10Y*: 25.58%
• ALL TIME*: 14.97%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FSPTX Fidelity Select Technology Portfolio	$0.00	$0.00	$0.00

SPAX vs. FSPTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SPAX Robinson Alternative Yield Pre-merger SPAC ETF	0.00%	0.02%	5.11%	6.63%	1.25%	1.96%
FSPTX Fidelity Select Technology Portfolio	30.03%	23.37%	41.76%	59.83%	-36.91%	11.97%

Correlation

The correlation between SPAX and FSPTX is 0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (3Y) Balances recent behavior with more history.	0.05
Correlation (5Y) Shows whether the relationship held over a longer period.	0.02
Correlation (All Time) Calculated using the full available price history since Jun 23, 2021	0.02

Return for Risk

SPAX vs. FSPTX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SPAX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

FSPTX

FSPTX Risk / Return Rank: 72
FSPTX Sharpe Ratio Rank: 74
FSPTX Sortino Ratio Rank: 66
FSPTX Omega Ratio Rank: 65
FSPTX Calmar Ratio Rank: 85
FSPTX Martin Ratio Rank: 69

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SPAX vs. FSPTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Robinson Alternative Yield Pre-merger SPAC ETF (SPAX) and Fidelity Select Technology Portfolio (FSPTX). 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.

	SPAX	FSPTX	Difference
Sharpe ratio: Return per unit of total volatility	—	1.66	—
Sortino ratio: Return per unit of downside risk	—	2.20	—
Omega ratio: Gain probability vs. loss probability	—	1.28	—
Calmar ratio: Return relative to maximum drawdown	—	2.86	—
Martin ratio: Return relative to average drawdown	—	8.20	—

Drawdowns

Drawdown Indicators

	SPAX	FSPTX	Difference
Max Drawdown Largest peak-to-trough decline	—	-84.37%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-14.87%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-29.22%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-42.16%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-42.16%	—
Current Drawdown Current decline from peak	—	-11.67%	—
Average Drawdown Average peak-to-trough decline	—	-26.96%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.19%	—

Volatility

Volatility by Period

	SPAX	FSPTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	8.28%	—
Volatility (6M) Calculated over the trailing 6-month period	—	21.29%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	25.63%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	28.04%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	26.29%	—

SPAX vs. FSPTX - Expense Ratio Comparison

SPAX has a 0.85% expense ratio, which is higher than FSPTX's 0.61% expense ratio.

Dividends

SPAX vs. FSPTX - Dividend Comparison

SPAX has not paid dividends to shareholders, while FSPTX's dividend yield for the trailing twelve months is around 8.35%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSPTX Fidelity Select Technology Portfolio	8.35%	9.06%	9.42%	0.01%	3.95%	11.62%	18.86%	1.86%	23.77%	8.32%	1.54%	4.19%
SPAX Robinson Alternative Yield Pre-merger SPAC ETF	0.00%	0.00%	5.50%	7.54%	0.97%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPAX and FSPTX in my portfolio?

SPAX and FSPTX have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.