SPRX vs. RDW
SPRX (Spear Alpha ETF) is Technology Equities fund actively managed by Spear, while RDW (Redwire Corporation) is a stock. Over the past 3 years, SPRX returned 43.37%/yr vs 79.83%/yr for RDW. At a 0.47 correlation, their price movements are largely independent.
Performance
SPRX vs. RDW - 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 RDW's 98.95% return.
SPRX
- 1D
- 1.50%
- 1M
- 12.60%
- YTD
- 43.69%
- 6M
- 43.35%
- 1Y
- 101.77%
- 3Y*
- 43.37%
- 5Y*
- —
- 10Y*
- —
RDW
- 1D
- -11.53%
- 1M
- 31.94%
- YTD
- 98.95%
- 6M
- 107.41%
- 1Y
- -21.74%
- 3Y*
- 79.83%
- 5Y*
- —
- 10Y*
- —
SPRX vs. RDW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SPRX Spear Alpha ETF | 43.69% | 41.91% | 20.58% | 88.02% | -44.99% | 2.97% |
RDW Redwire Corporation | 98.95% | -53.83% | 477.54% | 43.94% | -70.67% | -34.15% |
Correlation
The correlation between SPRX and RDW is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Sep 2, 2021 | 0.47 |
The correlation between SPRX and RDW has been stable across timeframes, ranging from 0.47 to 0.57 - a consistent structural relationship.
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Return for Risk
SPRX vs. RDW — Risk / Return Rank
SPRX
RDW
SPRX vs. RDW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Spear Alpha ETF (SPRX) and Redwire Corporation (RDW). 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 | RDW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.41 | ||
| Sortino ratioReturn per unit of downside risk | +2.03 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.07 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 4.23 | -0.29 | +4.52 |
| Martin ratioReturn relative to average drawdown | 13.10 | -0.42 | +13.52 |
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Drawdowns
SPRX vs. RDW - Drawdown Comparison
The maximum SPRX drawdown since its inception was -51.21%, smaller than the maximum RDW drawdown of -87.26%. Use the drawdown chart below to compare losses from any high point for SPRX and RDW.
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Drawdown Indicators
| SPRX | RDW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.21% | -87.26% | +36.05% |
Max Drawdown (1Y)Largest decline over 1 year | -24.21% | -75.40% | +51.19% |
Max Drawdown (3Y)Largest decline over 3 years | -42.12% | -80.28% | +38.16% |
Current DrawdownCurrent decline from peak | -5.87% | -41.62% | +35.75% |
Average DrawdownAverage peak-to-trough decline | -17.58% | -59.30% | +41.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.80% | 51.88% | -44.08% |
Volatility
SPRX vs. RDW - Volatility Comparison
The current volatility for Spear Alpha ETF (SPRX) is 19.77%, while Redwire Corporation (RDW) has a volatility of 53.68%. This indicates that SPRX experiences smaller price fluctuations and is considered to be less risky than RDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPRX | RDW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.77% | 53.68% | -33.91% |
Volatility (6M)Calculated over the trailing 6-month period | 38.52% | 94.49% | -55.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.91% | 118.63% | -72.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.15% | 96.83% | -54.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.15% | 96.83% | -54.68% |
Dividends
SPRX vs. RDW - Dividend Comparison
Neither SPRX nor RDW has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
RDW Redwire 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 RDW have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RDW has higher volatility (53.68%) compared to SPRX (19.77%). In terms of maximum drawdown, SPRX dropped -51.21% vs RDW's -87.26%.
SPRX currently has the higher Sharpe Ratio (2.23 vs -0.18), 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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