SPOG vs. FXZ
SPOG (Leverage Shares 2X Long SPOT Daily ETF) and FXZ (First Trust Materials AlphaDEX Fund) are both exchange-traded funds - SPOG is a Leveraged Equities fund actively managed by Leverage Shares, while FXZ is a Materials fund tracking the StrataQuant Materials Index. SPOG is actively managed, while FXZ is passively managed. At a correlation of -0.08, they often move in opposite directions. SPOG charges 0.75%/yr vs 0.67%/yr for FXZ.
Performance
SPOG vs. FXZ - Performance Comparison
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Returns By Period
In the year-to-date period, SPOG achieves a -45.69% return, which is significantly lower than FXZ's 17.63% return.
SPOG
- 1D
- -4.20%
- 1M
- 0.55%
- 6M
- -28.66%
- YTD
- -45.69%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FXZ
- 1D
- -1.47%
- 1M
- -9.56%
- 6M
- 4.73%
- YTD
- 17.63%
- 1Y
- 30.61%
- 3Y*
- 6.86%
- 5Y*
- 8.41%
- 10Y*
- 9.89%
SPOG vs. FXZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SPOG Leverage Shares 2X Long SPOT Daily ETF | -45.69% | -18.73% |
FXZ First Trust Materials AlphaDEX Fund | 17.63% | 7.77% |
Correlation
The correlation between SPOG and FXZ is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 17, 2025 | -0.08 |
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Return for Risk
SPOG vs. FXZ — Risk / Return Rank
SPOG
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FXZ
SPOG vs. FXZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long SPOT Daily ETF (SPOG) and First Trust Materials AlphaDEX Fund (FXZ). 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.
| SPOG | FXZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.23 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.41 | — |
| Martin ratioReturn relative to average drawdown | — | 7.77 | — |
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Drawdowns
SPOG vs. FXZ - Drawdown Comparison
The maximum SPOG drawdown since its inception was -64.41%, roughly equal to the maximum FXZ drawdown of -65.46%. Use the drawdown chart below to compare losses from any high point for SPOG and FXZ.
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Drawdown Indicators
| SPOG | FXZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.41% | -65.46% | +1.05% |
Max Drawdown (1Y)Largest decline over 1 year | — | -12.75% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -33.99% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -33.99% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -49.41% | — |
Current DrawdownCurrent decline from peak | -56.30% | -10.40% | -45.90% |
Average DrawdownAverage peak-to-trough decline | -42.83% | -11.32% | -31.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 3.95% | — |
Volatility
SPOG vs. FXZ - Volatility Comparison
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Volatility by Period
| SPOG | FXZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.13% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 17.10% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 97.10% | 22.78% | +74.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 97.10% | 24.15% | +72.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 97.10% | 24.90% | +72.20% |
SPOG vs. FXZ - Expense Ratio Comparison
SPOG has a 0.75% expense ratio, which is higher than FXZ's 0.67% expense ratio.
Dividends
SPOG vs. FXZ - Dividend Comparison
SPOG has not paid dividends to shareholders, while FXZ's dividend yield for the trailing twelve months is around 1.43%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXZ First Trust Materials AlphaDEX Fund | 1.43% | 1.74% | 1.81% | 1.97% | 1.56% | 1.11% | 1.51% | 1.58% | 1.38% | 1.01% | 1.19% | 1.26% |
SPOG Leverage Shares 2X Long SPOT Daily ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPOG and FXZ have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FXZ is cheaper at 0.67% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FXZ is cheaper with a 0.67% expense ratio, compared with 0.75% for SPOG.
FXZ has the higher dividend yield at 1.43%, compared with 0.00% for SPOG.
SPOG is categorized as Leveraged Equities, while FXZ is Materials. They also come from different issuers: Leverage Shares and First Trust. Their fees differ too: 0.75% for SPOG and 0.67% for FXZ.
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