SPRX vs. SPRO
SPRX (Spear Alpha ETF) is Technology Equities fund actively managed by Spear, while SPRO (Spero Therapeutics, Inc.) is a stock. Over the past 3 years, SPRX returned 39.84%/yr vs 10.65%/yr for SPRO. At a 0.27 correlation, their price movements are largely independent.
Performance
SPRX vs. SPRO - Performance Comparison
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Returns By Period
In the year-to-date period, SPRX achieves a 32.60% return, which is significantly higher than SPRO's -9.87% return.
SPRX
- 1D
- -1.41%
- 1M
- -7.72%
- 6M
- 25.66%
- YTD
- 32.60%
- 1Y
- 73.11%
- 3Y*
- 39.84%
- 5Y*
- —
- 10Y*
- —
SPRO
- 1D
- -0.94%
- 1M
- -26.32%
- 6M
- -17.65%
- YTD
- -9.87%
- 1Y
- -25.27%
- 3Y*
- 10.65%
- 5Y*
- -33.18%
- 10Y*
- —
SPRX vs. SPRO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SPRX Spear Alpha ETF | 32.60% | 41.91% | 20.58% | 88.02% | -44.99% | 9.15% |
SPRO Spero Therapeutics, Inc. | -9.87% | 126.21% | -29.93% | -15.03% | -89.19% | 15.43% |
Correlation
The correlation between SPRX and SPRO is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Aug 4, 2021 | 0.27 |
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Return for Risk
SPRX vs. SPRO — Risk / Return Rank
SPRX
SPRO
SPRX vs. SPRO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Spear Alpha ETF (SPRX) and Spero Therapeutics, Inc. (SPRO). 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 | SPRO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.91 | ||
| Sortino ratioReturn per unit of downside risk | +2.22 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 0.96 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 2.96 | -0.75 | +3.71 |
| Martin ratioReturn relative to average drawdown | 8.74 | -1.38 | +10.12 |
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Drawdowns
SPRX vs. SPRO - Drawdown Comparison
The maximum SPRX drawdown since its inception was -51.21%, smaller than the maximum SPRO drawdown of -97.46%. Use the drawdown chart below to compare losses from any high point for SPRX and SPRO.
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Drawdown Indicators
| SPRX | SPRO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.21% | -97.46% | +46.25% |
Max Drawdown (1Y)Largest decline over 1 year | -24.21% | -34.88% | +10.67% |
Max Drawdown (3Y)Largest decline over 3 years | -42.12% | -68.89% | +26.77% |
Max Drawdown (5Y)Largest decline over 5 years | — | -97.13% | — |
Current DrawdownCurrent decline from peak | -13.14% | -90.48% | +77.34% |
Average DrawdownAverage peak-to-trough decline | -17.44% | -62.59% | +45.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.18% | 19.57% | -11.39% |
Volatility
SPRX vs. SPRO - Volatility Comparison
The current volatility for Spear Alpha ETF (SPRX) is 20.37%, while Spero Therapeutics, Inc. (SPRO) has a volatility of 33.31%. This indicates that SPRX experiences smaller price fluctuations and is considered to be less risky than SPRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPRX | SPRO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.37% | 33.31% | -12.94% |
Volatility (6M)Calculated over the trailing 6-month period | 40.08% | 46.37% | -6.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 48.69% | 59.84% | -11.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.60% | 151.94% | -109.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.60% | 124.62% | -82.02% |
Dividends
SPRX vs. SPRO - Dividend Comparison
Neither SPRX nor SPRO has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
SPRO Spero Therapeutics, 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 SPRO have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPRO has higher volatility (33.31%) compared to SPRX (20.37%). In terms of maximum drawdown, SPRX dropped -51.21% vs SPRO's -97.46%.
SPRX currently has the higher Sharpe Ratio (1.47 vs -0.44), 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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