SPRX vs. SOUN
SPRX (Spear Alpha ETF) is Technology Equities fund actively managed by Spear, while SOUN (SoundHound AI, Inc.) is a stock. Over the past 3 years, SPRX returned 43.37%/yr vs 29.87%/yr for SOUN. At a 0.42 correlation, their price movements are largely independent.
Performance
SPRX vs. SOUN - 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 SOUN's -30.79% return.
SPRX
- 1D
- 1.50%
- 1M
- 12.60%
- YTD
- 43.69%
- 6M
- 43.35%
- 1Y
- 101.77%
- 3Y*
- 43.37%
- 5Y*
- —
- 10Y*
- —
SOUN
- 1D
- -1.43%
- 1M
- -18.05%
- YTD
- -30.79%
- 6M
- -40.77%
- 1Y
- -27.14%
- 3Y*
- 29.87%
- 5Y*
- —
- 10Y*
- —
SPRX vs. SOUN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SPRX Spear Alpha ETF | 43.69% | 41.91% | 20.58% | 88.02% | -28.89% |
SOUN SoundHound AI, Inc. | -30.79% | -49.75% | 835.85% | 19.77% | -79.70% |
Correlation
The correlation between SPRX and SOUN is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 2022 | 0.42 |
The correlation between SPRX and SOUN has been stable across timeframes, ranging from 0.42 to 0.52 - a consistent structural relationship.
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Return for Risk
SPRX vs. SOUN — Risk / Return Rank
SPRX
SOUN
SPRX vs. SOUN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Spear Alpha ETF (SPRX) and SoundHound AI, Inc. (SOUN). 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 | SOUN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.57 | ||
| Sortino ratioReturn per unit of downside risk | +2.62 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.00 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 4.23 | -0.38 | +4.60 |
| Martin ratioReturn relative to average drawdown | 13.10 | -0.60 | +13.70 |
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Drawdowns
SPRX vs. SOUN - Drawdown Comparison
The maximum SPRX drawdown since its inception was -51.21%, smaller than the maximum SOUN drawdown of -93.55%. Use the drawdown chart below to compare losses from any high point for SPRX and SOUN.
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Drawdown Indicators
| SPRX | SOUN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.21% | -93.55% | +42.34% |
Max Drawdown (1Y)Largest decline over 1 year | -24.21% | -72.43% | +48.22% |
Max Drawdown (3Y)Largest decline over 3 years | -42.12% | -75.65% | +33.53% |
Current DrawdownCurrent decline from peak | -5.87% | -71.52% | +65.65% |
Average DrawdownAverage peak-to-trough decline | -17.58% | -66.93% | +49.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.80% | 45.29% | -37.49% |
Volatility
SPRX vs. SOUN - Volatility Comparison
Spear Alpha ETF (SPRX) has a higher volatility of 19.77% compared to SoundHound AI, Inc. (SOUN) at 17.69%. This indicates that SPRX's price experiences larger fluctuations and is considered to be riskier than SOUN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPRX | SOUN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.77% | 17.69% | +2.08% |
Volatility (6M)Calculated over the trailing 6-month period | 38.52% | 52.15% | -13.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.91% | 80.70% | -34.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.15% | 136.27% | -94.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.15% | 136.27% | -94.12% |
Dividends
SPRX vs. SOUN - Dividend Comparison
Neither SPRX nor SOUN has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
SOUN SoundHound AI, 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 SOUN have a correlation of 0.47, 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 SOUN (17.69%). In terms of maximum drawdown, SPRX dropped -51.21% vs SOUN's -93.55%.
SPRX currently has the higher Sharpe Ratio (2.23 vs -0.34), 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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