SPRX vs. ARQQ
SPRX (Spear Alpha ETF) is Technology Equities fund actively managed by Spear, while ARQQ (Arqit Quantum Inc.) is a stock. Over the past 3 years, SPRX returned 43.37%/yr vs -28.53%/yr for ARQQ. At a 0.36 correlation, their price movements are largely independent.
Performance
SPRX vs. ARQQ - Performance Comparison
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Returns By Period
In the year-to-date period, SPRX achieves a 43.69% return, which is significantly higher than ARQQ's -37.84% return.
SPRX
- 1D
- 1.50%
- 1M
- 12.60%
- YTD
- 43.69%
- 6M
- 43.35%
- 1Y
- 101.77%
- 3Y*
- 43.37%
- 5Y*
- —
- 10Y*
- —
ARQQ
- 1D
- -0.66%
- 1M
- -1.66%
- YTD
- -37.84%
- 6M
- -52.03%
- 1Y
- -49.10%
- 3Y*
- -28.53%
- 5Y*
- —
- 10Y*
- —
SPRX vs. ARQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SPRX Spear Alpha ETF | 43.69% | 41.91% | 20.58% | 88.02% | -44.99% | 1.72% |
ARQQ Arqit Quantum Inc. | -37.84% | -43.67% | 227.76% | -86.87% | -84.93% | 158.92% |
Correlation
The correlation between SPRX and ARQQ is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2021 | 0.36 |
Over the past year, SPRX and ARQQ have become more correlated (0.56) than their long-term average of 0.36, meaning their price movements have been converging.
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Return for Risk
SPRX vs. ARQQ — Risk / Return Rank
SPRX
ARQQ
SPRX vs. ARQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Spear Alpha ETF (SPRX) and Arqit Quantum Inc. (ARQQ). 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 | ARQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.70 | ||
| Sortino ratioReturn per unit of downside risk | +2.82 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 0.98 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 4.23 | -0.62 | +4.84 |
| Martin ratioReturn relative to average drawdown | 13.10 | -0.91 | +14.01 |
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Drawdowns
SPRX vs. ARQQ - Drawdown Comparison
The maximum SPRX drawdown since its inception was -51.21%, smaller than the maximum ARQQ drawdown of -99.60%. Use the drawdown chart below to compare losses from any high point for SPRX and ARQQ.
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Drawdown Indicators
| SPRX | ARQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.21% | -99.60% | +48.39% |
Max Drawdown (1Y)Largest decline over 1 year | -24.21% | -79.78% | +55.57% |
Max Drawdown (3Y)Largest decline over 3 years | -42.12% | -89.76% | +47.64% |
Current DrawdownCurrent decline from peak | -5.87% | -98.57% | +92.70% |
Average DrawdownAverage peak-to-trough decline | -17.58% | -88.78% | +71.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.80% | 53.78% | -45.98% |
Volatility
SPRX vs. ARQQ - Volatility Comparison
The current volatility for Spear Alpha ETF (SPRX) is 19.77%, while Arqit Quantum Inc. (ARQQ) has a volatility of 35.65%. This indicates that SPRX experiences smaller price fluctuations and is considered to be less risky than ARQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPRX | ARQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.77% | 35.65% | -15.88% |
Volatility (6M)Calculated over the trailing 6-month period | 38.52% | 64.49% | -25.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.91% | 104.65% | -58.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.15% | 134.12% | -91.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.15% | 134.12% | -91.97% |
Dividends
SPRX vs. ARQQ - Dividend Comparison
Neither SPRX nor ARQQ has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
ARQQ Arqit Quantum Inc. | 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
SPRX and ARQQ have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ARQQ has higher volatility (35.65%) compared to SPRX (19.77%). In terms of maximum drawdown, SPRX dropped -51.21% vs ARQQ's -99.60%.
SPRX currently has the higher Sharpe Ratio (2.23 vs -0.47), 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.
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