SPHB vs. SPRX
Compare and contrast key facts about Invesco S&P 500® High Beta ETF (SPHB) and Spear Alpha ETF (SPRX).
SPHB and SPRX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPHB is a passively managed fund by Invesco that tracks the performance of the S&P 500 High Beta Index. It was launched on May 5, 2011. SPRX is an actively managed fund by Spear. It was launched on Aug 3, 2021.
Performance
SPHB vs. SPRX - Performance Comparison
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SPHB vs. SPRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SPHB Invesco S&P 500® High Beta ETF | 0.38% | 32.87% | 8.48% | 33.28% | -20.59% | 10.09% |
SPRX Spear Alpha ETF | -5.51% | 41.91% | 20.58% | 88.02% | -44.99% | 8.91% |
Returns By Period
In the year-to-date period, SPHB achieves a 0.38% return, which is significantly higher than SPRX's -5.51% return.
SPHB
- 1D
- 1.06%
- 1M
- -4.33%
- YTD
- 0.38%
- 6M
- 5.68%
- 1Y
- 49.93%
- 3Y*
- 19.70%
- 5Y*
- 11.49%
- 10Y*
- 16.61%
SPRX
- 1D
- 2.20%
- 1M
- -9.54%
- YTD
- -5.51%
- 6M
- -7.15%
- 1Y
- 79.83%
- 3Y*
- 34.31%
- 5Y*
- —
- 10Y*
- —
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SPHB vs. SPRX - Expense Ratio Comparison
SPHB has a 0.25% expense ratio, which is lower than SPRX's 0.75% expense ratio.
Return for Risk
SPHB vs. SPRX — Risk / Return Rank
SPHB
SPRX
SPHB vs. SPRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500® High Beta ETF (SPHB) 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.
| SPHB | SPRX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.68 | 1.68 | -0.01 |
Sortino ratioReturn per unit of downside risk | 2.31 | 2.23 | +0.08 |
Omega ratioGain probability vs. loss probability | 1.34 | 1.30 | +0.04 |
Calmar ratioReturn relative to maximum drawdown | 3.16 | 3.45 | -0.29 |
Martin ratioReturn relative to average drawdown | 14.27 | 10.84 | +3.43 |
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
| SPHB | SPRX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.68 | 1.68 | -0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.42 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.33 | +0.13 |
Correlation
The correlation between SPHB and SPRX is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
SPHB vs. SPRX - Dividend Comparison
SPHB's dividend yield for the trailing twelve months is around 0.67%, while SPRX has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPHB Invesco S&P 500® High Beta ETF | 0.67% | 0.60% | 0.80% | 0.73% | 0.72% | 0.91% | 1.90% | 1.26% | 1.96% | 1.34% | 0.93% | 1.69% |
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% |
Drawdowns
SPHB vs. SPRX - Drawdown Comparison
The maximum SPHB drawdown since its inception was -46.84%, smaller than the maximum SPRX drawdown of -51.21%. Use the drawdown chart below to compare losses from any high point for SPHB and SPRX.
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Drawdown Indicators
| SPHB | SPRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.84% | -51.21% | +4.37% |
Max Drawdown (1Y)Largest decline over 1 year | -16.08% | -24.21% | +8.13% |
Max Drawdown (5Y)Largest decline over 5 years | -31.49% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -46.84% | — | — |
Current DrawdownCurrent decline from peak | -6.04% | -16.81% | +10.77% |
Average DrawdownAverage peak-to-trough decline | -8.59% | -18.18% | +9.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.56% | 7.70% | -4.14% |
Volatility
SPHB vs. SPRX - Volatility Comparison
The current volatility for Invesco S&P 500® High Beta ETF (SPHB) is 8.80%, while Spear Alpha ETF (SPRX) has a volatility of 17.68%. This indicates that SPHB 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
| SPHB | SPRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.80% | 17.68% | -8.88% |
Volatility (6M)Calculated over the trailing 6-month period | 17.65% | 35.67% | -18.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.95% | 47.73% | -17.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.27% | 41.57% | -14.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.41% | 41.57% | -13.16% |