SPRX vs. AIS

Last updated Jul 12, 2026

SPRX (Spear Alpha ETF) and AIS (VistaShares Artificial Intelligence Supercycle ETF) are both Technology Equities funds. Both are actively managed. Over the past year, SPRX returned 73.11% vs 173.01% for AIS. Their correlation of 0.83 suggests significant overlap in exposure. Both charge a 0.75% expense ratio.

Performance

SPRX vs. AIS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Spear Alpha ETF (SPRX) and VistaShares Artificial Intelligence Supercycle ETF (AIS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPRX achieves a 32.60% return, which is significantly lower than AIS's 102.57% return.

SPRX

• 1D: -1.41%
• 1M: -7.72%
• 6M: 25.66%
• YTD: 32.60%
• 1Y: 73.11%
• 3Y*: 39.84%
• 5Y*: —
• 10Y*: —

AIS

• 1D: -0.93%
• 1M: -0.40%
• 6M: 89.43%
• YTD: 102.57%
• 1Y: 173.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPRX vs. AIS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SPRX Spear Alpha ETF	32.60%	41.91%	1.76%
AIS VistaShares Artificial Intelligence Supercycle ETF	102.57%	58.35%	-4.74%

Correlation

The correlation between SPRX and AIS is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (All Time) Calculated using the full available price history since Dec 3, 2024	0.83

The correlation between SPRX and AIS has been stable across timeframes, ranging from 0.82 to 0.83 - a consistent structural relationship.

SPRX vs. AIS - Sectors Allocation Comparison

Sectors	SPRX	AIS
Technology	82.1%	86.2%
Industrials	9.8%	7.8%
Basic Materials	9.2%	-
Financial Services	8.1%	-0.1%
Communication Services	3.9%	-
Healthcare	2.0%	-
Utilities	1.4%	2.9%
Consumer Cyclical	-	-
Consumer Defensive	-	0.3%
Energy	-	-
Real Estate	-	-

Return for Risk

SPRX vs. AIS — Risk / Return Rank

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

SPRX

SPRX Risk / Return Rank: 57
SPRX Sharpe Ratio Rank: 53
SPRX Sortino Ratio Rank: 48
SPRX Omega Ratio Rank: 48
SPRX Calmar Ratio Rank: 73
SPRX Martin Ratio Rank: 62

AIS

AIS Risk / Return Rank: 96
AIS Sharpe Ratio Rank: 97
AIS Sortino Ratio Rank: 93
AIS Omega Ratio Rank: 94
AIS Calmar Ratio Rank: 98
AIS Martin Ratio Rank: 97

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.

SPRX vs. AIS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Spear Alpha ETF (SPRX) and VistaShares Artificial Intelligence Supercycle ETF (AIS). 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.

	SPRX	AIS	Difference
Sharpe ratio: Return per unit of total volatility	1.47	3.92	-2.44
Sortino ratio: Return per unit of downside risk	1.95	3.75	-1.79
Omega ratio: Gain probability vs. loss probability	1.25	1.53	-0.28
Calmar ratio: Return relative to maximum drawdown	2.96	9.53	-6.57
Martin ratio: Return relative to average drawdown	8.74	29.83	-21.08

SPRX vs. AIS - Sharpe Ratio Comparison

The current SPRX Sharpe Ratio is 1.47, which is lower than the AIS Sharpe Ratio of 3.92. The chart below compares the historical Sharpe Ratios of SPRX and AIS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SPRX vs. AIS - Drawdown Comparison

The maximum SPRX drawdown since its inception was -51.21%, which is greater than AIS's maximum drawdown of -32.78%. Use the drawdown chart below to compare losses from any high point for SPRX and AIS.

Drawdown Indicators

	SPRX	AIS	Difference
Max Drawdown Largest peak-to-trough decline	-51.21%	-32.78%	-18.43%
Max Drawdown (1Y) Largest decline over 1 year	-24.21%	-18.14%	-6.07%
Max Drawdown (3Y) Largest decline over 3 years	-42.12%	—	—
Current Drawdown Current decline from peak	-13.14%	-13.46%	+0.32%
Average Drawdown Average peak-to-trough decline	-17.44%	-5.65%	-11.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.18%	5.78%	+2.40%

Volatility

SPRX vs. AIS - Volatility Comparison

The current volatility for Spear Alpha ETF (SPRX) is 20.37%, while VistaShares Artificial Intelligence Supercycle ETF (AIS) has a volatility of 23.37%. This indicates that SPRX experiences smaller price fluctuations and is considered to be less risky than AIS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPRX	AIS	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.37%	23.37%	-3.00%
Volatility (6M) Calculated over the trailing 6-month period	40.08%	39.30%	+0.78%
Volatility (1Y) Calculated over the trailing 1-year period	48.69%	44.12%	+4.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.60%	42.30%	+0.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.60%	42.30%	+0.30%

SPRX vs. AIS - Expense Ratio Comparison

Both SPRX and AIS have an expense ratio of 0.75%.

Dividends

SPRX vs. AIS - Dividend Comparison

Neither SPRX nor AIS has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
AIS VistaShares Artificial Intelligence Supercycle ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPRX Spear Alpha ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.25%

Frequently Asked Questions

Can I hold both SPRX and AIS in my portfolio?

SPRX and AIS have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPRX or AIS?

AIS has higher volatility (23.37%) compared to SPRX (20.37%). In terms of maximum drawdown, SPRX dropped -51.21% vs AIS's -32.78%.

Which ETF is better, SPRX or AIS?

On 1-year performance, AIS leads with 173.01% vs 73.11% for SPRX. Both ETFs have the same 0.75% expense ratio. On volatility, SPRX has been the lower-risk option at 20.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPRX or AIS?

Over the 1-year period, AIS has performed better with a 173.01% return vs 73.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPRX or AIS?

SPRX and AIS have the same expense ratio: 0.75% per year.

Which ETF pays a higher dividend yield, SPRX or AIS?

SPRX and AIS have nearly identical dividend yields, around 0.00%.

What is the main difference between SPRX and AIS?

They also come from different issuers: Spear and VistaShares.

Which has better risk-adjusted returns?

AIS currently has the higher Sharpe Ratio (3.92 vs 1.47), 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.