SPRX vs. QUBT
SPRX (Spear Alpha ETF) is Technology Equities fund actively managed by Spear, while QUBT (Quantum Computing, Inc.) is a stock. Over the past 3 years, SPRX returned 43.37%/yr vs 77.69%/yr for QUBT. At a 0.46 correlation, their price movements are largely independent.
Performance
SPRX vs. QUBT - 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 QUBT's -3.22% return.
SPRX
- 1D
- 1.50%
- 1M
- 12.60%
- YTD
- 43.69%
- 6M
- 43.35%
- 1Y
- 101.77%
- 3Y*
- 43.37%
- 5Y*
- —
- 10Y*
- —
QUBT
- 1D
- 0.20%
- 1M
- -9.97%
- YTD
- -3.22%
- 6M
- -17.59%
- 1Y
- -43.29%
- 3Y*
- 77.69%
- 5Y*
- 9.88%
- 10Y*
- —
SPRX vs. QUBT - 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% |
QUBT Quantum Computing, Inc. | -3.22% | -38.01% | 1,712.51% | -39.53% | -55.72% | -57.85% |
Correlation
The correlation between SPRX and QUBT 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 | 0.48 |
Correlation (All Time) Calculated using the full available price history since Aug 4, 2021 | 0.46 |
The correlation between SPRX and QUBT has been stable across timeframes, ranging from 0.46 to 0.56 - a consistent structural relationship.
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Return for Risk
SPRX vs. QUBT — Risk / Return Rank
SPRX
QUBT
SPRX vs. QUBT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Spear Alpha ETF (SPRX) and Quantum Computing, Inc. (QUBT). 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 | QUBT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.65 | ||
| Sortino ratioReturn per unit of downside risk | +2.69 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 0.99 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 4.23 | -0.58 | +4.81 |
| Martin ratioReturn relative to average drawdown | 13.10 | -0.89 | +13.99 |
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Drawdowns
SPRX vs. QUBT - Drawdown Comparison
The maximum SPRX drawdown since its inception was -51.21%, smaller than the maximum QUBT drawdown of -97.53%. Use the drawdown chart below to compare losses from any high point for SPRX and QUBT.
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Drawdown Indicators
| SPRX | QUBT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.21% | -97.53% | +46.32% |
Max Drawdown (1Y)Largest decline over 1 year | -24.21% | -74.37% | +50.16% |
Max Drawdown (3Y)Largest decline over 3 years | -42.12% | -82.40% | +40.28% |
Max Drawdown (5Y)Largest decline over 5 years | — | -95.63% | — |
Current DrawdownCurrent decline from peak | -5.87% | -61.33% | +55.46% |
Average DrawdownAverage peak-to-trough decline | -17.58% | -72.90% | +55.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.80% | 48.67% | -40.87% |
Volatility
SPRX vs. QUBT - Volatility Comparison
The current volatility for Spear Alpha ETF (SPRX) is 19.77%, while Quantum Computing, Inc. (QUBT) has a volatility of 33.55%. This indicates that SPRX experiences smaller price fluctuations and is considered to be less risky than QUBT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPRX | QUBT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.77% | 33.55% | -13.78% |
Volatility (6M)Calculated over the trailing 6-month period | 38.52% | 67.37% | -28.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.91% | 103.81% | -57.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.15% | 133.05% | -90.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.15% | 177.48% | -135.33% |
Dividends
SPRX vs. QUBT - Dividend Comparison
Neither SPRX nor QUBT has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
QUBT Quantum Computing, 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 QUBT 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.
QUBT has higher volatility (33.55%) compared to SPRX (19.77%). In terms of maximum drawdown, SPRX dropped -51.21% vs QUBT's -97.53%.
SPRX currently has the higher Sharpe Ratio (2.23 vs -0.42), 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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