SPRX vs. SMR
SPRX (Spear Alpha ETF) is Technology Equities fund actively managed by Spear, while SMR (NuScale Power Corporation) is a stock. Over the past 3 years, SPRX returned 43.37%/yr vs 5.43%/yr for SMR. At a 0.42 correlation, their price movements are largely independent.
Performance
SPRX vs. SMR - 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 SMR's -30.20% return.
SPRX
- 1D
- 1.50%
- 1M
- 12.60%
- YTD
- 43.69%
- 6M
- 43.35%
- 1Y
- 101.77%
- 3Y*
- 43.37%
- 5Y*
- —
- 10Y*
- —
SMR
- 1D
- 3.34%
- 1M
- -17.31%
- YTD
- -30.20%
- 6M
- -46.07%
- 1Y
- -75.51%
- 3Y*
- 5.43%
- 5Y*
- -0.32%
- 10Y*
- —
SPRX vs. SMR - 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% |
SMR NuScale Power Corporation | -30.20% | -20.97% | 444.98% | -67.93% | 2.29% | -0.10% |
Correlation
The correlation between SPRX and SMR is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Aug 4, 2021 | 0.42 |
Over the past year, SPRX and SMR have become more correlated (0.62) than their long-term average of 0.42, meaning their price movements have been converging.
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Return for Risk
SPRX vs. SMR — Risk / Return Rank
SPRX
SMR
SPRX vs. SMR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Spear Alpha ETF (SPRX) and NuScale Power Corporation (SMR). 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 | SMR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.97 | ||
| Sortino ratioReturn per unit of downside risk | +3.86 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 0.87 | +0.47 |
| Calmar ratioReturn relative to maximum drawdown | 4.23 | -0.91 | +5.14 |
| Martin ratioReturn relative to average drawdown | 13.10 | -1.32 | +14.41 |
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Drawdowns
SPRX vs. SMR - Drawdown Comparison
The maximum SPRX drawdown since its inception was -51.21%, smaller than the maximum SMR drawdown of -87.47%. Use the drawdown chart below to compare losses from any high point for SPRX and SMR.
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Drawdown Indicators
| SPRX | SMR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.21% | -87.47% | +36.26% |
Max Drawdown (1Y)Largest decline over 1 year | -24.21% | -82.86% | +58.65% |
Max Drawdown (3Y)Largest decline over 3 years | -42.12% | -82.86% | +40.74% |
Max Drawdown (5Y)Largest decline over 5 years | — | -87.47% | — |
Current DrawdownCurrent decline from peak | -5.87% | -81.49% | +75.62% |
Average DrawdownAverage peak-to-trough decline | -17.58% | -35.08% | +17.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.80% | 57.39% | -49.59% |
Volatility
SPRX vs. SMR - Volatility Comparison
The current volatility for Spear Alpha ETF (SPRX) is 19.77%, while NuScale Power Corporation (SMR) has a volatility of 28.93%. This indicates that SPRX experiences smaller price fluctuations and is considered to be less risky than SMR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPRX | SMR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.77% | 28.93% | -9.16% |
Volatility (6M)Calculated over the trailing 6-month period | 38.52% | 69.57% | -31.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.91% | 102.59% | -56.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.15% | 93.50% | -51.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.15% | 89.31% | -47.16% |
Dividends
SPRX vs. SMR - Dividend Comparison
Neither SPRX nor SMR has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
SMR NuScale Power 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 SMR have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMR has higher volatility (28.93%) compared to SPRX (19.77%). In terms of maximum drawdown, SPRX dropped -51.21% vs SMR's -87.47%.
SPRX currently has the higher Sharpe Ratio (2.23 vs -0.74), 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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