SPCE vs. UFO

Last updated Jun 4, 2026

SPCE (Virgin Galactic Holdings, Inc.) is a stock, while UFO (Procure Space ETF) is Global Equities fund tracking the S-Network Space Index. Over the past 5 years, SPCE returned -63.11%/yr vs 15.60%/yr for UFO. A 0.59 correlation means they provide meaningful diversification when combined.

Performance

SPCE vs. UFO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virgin Galactic Holdings, Inc. (SPCE) and Procure Space ETF (UFO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPCE achieves a 33.64% return, which is significantly lower than UFO's 49.39% return.

SPCE

• 1D: -6.54%
• 1M: 70.24%
• YTD: 33.64%
• 6M: -1.38%
• 1Y: 32.41%
• 3Y*: -61.71%
• 5Y*: -63.11%
• 10Y*: —

UFO

• 1D: -5.68%
• 1M: 12.53%
• YTD: 49.39%
• 6M: 71.06%
• 1Y: 135.88%
• 3Y*: 46.01%
• 5Y*: 15.60%
• 10Y*: —

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

SPCE vs. UFO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SPCE Virgin Galactic Holdings, Inc.	33.64%	-45.41%	-88.00%	-29.60%	-73.99%	-43.62%	105.45%	-2.04%
UFO Procure Space ETF	49.39%	67.36%	27.22%	-2.34%	-25.85%	7.17%	-2.15%	0.77%

Correlation

The correlation between SPCE and UFO is 0.52, 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	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (All Time) Calculated using the full available price history since Oct 29, 2019	0.59

The correlation between SPCE and UFO has been stable across timeframes, ranging from 0.52 to 0.62 - a consistent structural relationship.

Return for Risk

SPCE vs. UFO — Risk / Return Rank

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

SPCE

SPCE Risk / Return Rank: 55
SPCE Sharpe Ratio Rank: 52
SPCE Sortino Ratio Rank: 59
SPCE Omega Ratio Rank: 59
SPCE Calmar Ratio Rank: 54
SPCE Martin Ratio Rank: 52

UFO

UFO Risk / Return Rank: 88
UFO Sharpe Ratio Rank: 93
UFO Sortino Ratio Rank: 86
UFO Omega Ratio Rank: 78
UFO Calmar Ratio Rank: 92
UFO Martin Ratio Rank: 89

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.

SPCE vs. UFO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virgin Galactic Holdings, Inc. (SPCE) and Procure Space ETF (UFO). 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.

	SPCE	UFO	Difference
Sharpe ratio: Return per unit of total volatility	0.32	3.59	-3.27
Sortino ratio: Return per unit of downside risk	1.27	3.95	-2.68
Omega ratio: Gain probability vs. loss probability	1.16	1.48	-0.31
Calmar ratio: Return relative to maximum drawdown	0.61	6.23	-5.62
Martin ratio: Return relative to average drawdown	1.05	20.29	-19.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPCE vs. UFO - Sharpe Ratio Comparison

The current SPCE Sharpe Ratio is 0.32, which is lower than the UFO Sharpe Ratio of 3.59. The chart below compares the historical Sharpe Ratios of SPCE and UFO, 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

	SPCE	UFO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.32	3.59	-3.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.66	0.52	-1.18
Sharpe Ratio (All Time) Calculated using the full available price history	-0.46	0.46	-0.92

Drawdowns

SPCE vs. UFO - Drawdown Comparison

The maximum SPCE drawdown since its inception was -99.82%, which is greater than UFO's maximum drawdown of -50.33%. Use the drawdown chart below to compare losses from any high point for SPCE and UFO.

Drawdown Indicators

	SPCE	UFO	Difference
Max Drawdown Largest peak-to-trough decline	-99.82%	-50.33%	-49.49%
Max Drawdown (1Y) Largest decline over 1 year	-53.33%	-21.95%	-31.38%
Max Drawdown (3Y) Largest decline over 3 years	-98.19%	-25.91%	-72.28%
Max Drawdown (5Y) Largest decline over 5 years	-99.81%	-50.33%	-49.48%
Current Drawdown Current decline from peak	-99.64%	-14.84%	-84.80%
Average Drawdown Average peak-to-trough decline	-78.47%	-21.82%	-56.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.84%	6.72%	+24.12%

Volatility

SPCE vs. UFO - Volatility Comparison

Virgin Galactic Holdings, Inc. (SPCE) has a higher volatility of 72.49% compared to Procure Space ETF (UFO) at 16.64%. This indicates that SPCE's price experiences larger fluctuations and is considered to be riskier than UFO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPCE	UFO	Difference
Volatility (1M) Calculated over the trailing 1-month period	72.49%	16.64%	+55.85%
Volatility (6M) Calculated over the trailing 6-month period	88.44%	31.27%	+57.17%
Volatility (1Y) Calculated over the trailing 1-year period	100.46%	38.08%	+62.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	95.85%	29.92%	+65.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	99.15%	30.76%	+68.39%

Dividends

SPCE vs. UFO - Dividend Comparison

SPCE has not paid dividends to shareholders, while UFO's dividend yield for the trailing twelve months is around 0.29%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
SPCE Virgin Galactic Holdings, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UFO Procure Space ETF	0.29%	0.46%	1.98%	1.90%	3.19%	1.00%	1.07%	0.45%

Frequently Asked Questions

Can I hold both SPCE and UFO in my portfolio?

SPCE and UFO have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPCE or UFO?

SPCE has higher volatility (72.49%) compared to UFO (16.64%). In terms of maximum drawdown, SPCE dropped -99.82% vs UFO's -50.33%.

Which has better risk-adjusted returns?

UFO currently has the higher Sharpe Ratio (3.59 vs 0.32), 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.