SPRX vs. ETN
SPRX (Spear Alpha ETF) is Technology Equities fund actively managed by Spear, while ETN (Eaton Corporation plc) is a stock. Over the past 3 years, SPRX returned 43.37%/yr vs 28.04%/yr for ETN. A 0.59 correlation means they provide meaningful diversification when combined.
Performance
SPRX vs. ETN - 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 ETN's 23.61% return.
SPRX
- 1D
- 1.50%
- 1M
- 12.60%
- YTD
- 43.69%
- 6M
- 43.35%
- 1Y
- 101.77%
- 3Y*
- 43.37%
- 5Y*
- —
- 10Y*
- —
ETN
- 1D
- -0.57%
- 1M
- -3.82%
- YTD
- 23.61%
- 6M
- 18.59%
- 1Y
- 19.85%
- 3Y*
- 28.04%
- 5Y*
- 23.65%
- 10Y*
- 23.38%
SPRX vs. ETN - 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% |
ETN Eaton Corporation plc | 23.61% | -2.79% | 39.51% | 56.22% | -7.18% | 7.10% |
Correlation
The correlation between SPRX and ETN is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Aug 4, 2021 | 0.59 |
The correlation between SPRX and ETN has been stable across timeframes, ranging from 0.59 to 0.63 - a consistent structural relationship.
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Return for Risk
SPRX vs. ETN — Risk / Return Rank
SPRX
ETN
SPRX vs. ETN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Spear Alpha ETF (SPRX) and Eaton Corporation plc (ETN). 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 | ETN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.63 | ||
| Sortino ratioReturn per unit of downside risk | +1.61 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.13 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 4.23 | 1.04 | +3.19 |
| Martin ratioReturn relative to average drawdown | 13.10 | 2.25 | +10.85 |
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Drawdowns
SPRX vs. ETN - Drawdown Comparison
The maximum SPRX drawdown since its inception was -51.21%, smaller than the maximum ETN drawdown of -68.95%. Use the drawdown chart below to compare losses from any high point for SPRX and ETN.
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Drawdown Indicators
| SPRX | ETN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.21% | -68.95% | +17.74% |
Max Drawdown (1Y)Largest decline over 1 year | -24.21% | -19.14% | -5.07% |
Max Drawdown (3Y)Largest decline over 3 years | -42.12% | -34.46% | -7.66% |
Max Drawdown (5Y)Largest decline over 5 years | — | -34.46% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -44.55% | — |
Current DrawdownCurrent decline from peak | -5.87% | -9.36% | +3.49% |
Average DrawdownAverage peak-to-trough decline | -17.58% | -14.89% | -2.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.80% | 8.86% | -1.06% |
Volatility
SPRX vs. ETN - Volatility Comparison
Spear Alpha ETF (SPRX) has a higher volatility of 19.77% compared to Eaton Corporation plc (ETN) at 13.57%. This indicates that SPRX's price experiences larger fluctuations and is considered to be riskier than ETN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPRX | ETN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.77% | 13.57% | +6.20% |
Volatility (6M)Calculated over the trailing 6-month period | 38.52% | 26.78% | +11.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.91% | 33.48% | +12.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.15% | 30.24% | +11.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.15% | 30.10% | +12.05% |
Dividends
SPRX vs. ETN - Dividend Comparison
SPRX has not paid dividends to shareholders, while ETN's dividend yield for the trailing twelve months is around 1.09%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETN Eaton Corporation plc | 1.09% | 1.31% | 1.13% | 1.43% | 2.06% | 1.76% | 1.88% | 3.00% | 3.85% | 3.04% | 3.40% | 4.23% |
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% |
Frequently Asked Questions
SPRX and ETN have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPRX has higher volatility (19.77%) compared to ETN (13.57%). In terms of maximum drawdown, SPRX dropped -51.21% vs ETN's -68.95%.
SPRX currently has the higher Sharpe Ratio (2.23 vs 0.60), 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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