SPRX vs. BE
SPRX (Spear Alpha ETF) is Technology Equities fund actively managed by Spear, while BE (Bloom Energy Corporation) is a stock. Over the past 3 years, SPRX returned 43.37%/yr vs 145.16%/yr for BE. A 0.56 correlation means they provide meaningful diversification when combined.
Performance
SPRX vs. BE - Performance Comparison
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Returns By Period
In the year-to-date period, SPRX achieves a 43.69% return, which is significantly lower than BE's 199.48% return.
SPRX
- 1D
- 1.50%
- 1M
- 12.60%
- YTD
- 43.69%
- 6M
- 43.35%
- 1Y
- 101.77%
- 3Y*
- 43.37%
- 5Y*
- —
- 10Y*
- —
BE
- 1D
- 4.56%
- 1M
- -10.19%
- YTD
- 199.48%
- 6M
- 173.97%
- 1Y
- 1,069.53%
- 3Y*
- 145.16%
- 5Y*
- 59.08%
- 10Y*
- —
SPRX vs. BE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SPRX Spear Alpha ETF | 43.69% | 41.91% | 20.58% | 88.02% | -44.99% | 9.15% |
BE Bloom Energy Corporation | 199.48% | 291.22% | 50.07% | -22.59% | -12.81% | 2.33% |
Correlation
The correlation between SPRX and BE 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 | 0.49 |
Correlation (All Time) Calculated using the full available price history since Aug 4, 2021 | 0.56 |
The correlation between SPRX and BE has been stable across timeframes, ranging from 0.49 to 0.56 - a consistent structural relationship.
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Return for Risk
SPRX vs. BE — Risk / Return Rank
SPRX
BE
SPRX vs. BE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Spear Alpha ETF (SPRX) and Bloom Energy Corporation (BE). 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 | BE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -7.82 | ||
| Sortino ratioReturn per unit of downside risk | -2.28 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.62 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 4.23 | 23.53 | -19.31 |
| Martin ratioReturn relative to average drawdown | 13.10 | 73.01 | -59.91 |
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Drawdowns
SPRX vs. BE - Drawdown Comparison
The maximum SPRX drawdown since its inception was -51.21%, smaller than the maximum BE drawdown of -92.54%. Use the drawdown chart below to compare losses from any high point for SPRX and BE.
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Drawdown Indicators
| SPRX | BE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.21% | -92.54% | +41.33% |
Max Drawdown (1Y)Largest decline over 1 year | -24.21% | -45.94% | +21.73% |
Max Drawdown (3Y)Largest decline over 3 years | -42.12% | -53.42% | +11.30% |
Max Drawdown (5Y)Largest decline over 5 years | — | -75.87% | — |
Current DrawdownCurrent decline from peak | -5.87% | -15.48% | +9.61% |
Average DrawdownAverage peak-to-trough decline | -17.58% | -51.91% | +34.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.80% | 14.78% | -6.98% |
Volatility
SPRX vs. BE - Volatility Comparison
The current volatility for Spear Alpha ETF (SPRX) is 19.77%, while Bloom Energy Corporation (BE) has a volatility of 27.74%. This indicates that SPRX experiences smaller price fluctuations and is considered to be less risky than BE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPRX | BE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.77% | 27.74% | -7.97% |
Volatility (6M)Calculated over the trailing 6-month period | 38.52% | 75.65% | -37.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.91% | 107.62% | -61.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.15% | 85.95% | -43.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.15% | 95.68% | -53.53% |
Dividends
SPRX vs. BE - Dividend Comparison
Neither SPRX nor BE has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
BE Bloom Energy Corporation | 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 BE 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.
BE has higher volatility (27.74%) compared to SPRX (19.77%). In terms of maximum drawdown, SPRX dropped -51.21% vs BE's -92.54%.
BE currently has the higher Sharpe Ratio (10.05 vs 2.23), 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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