SPRX vs. UFO

Last updated Jun 13, 2026

SPRX (Spear Alpha ETF) and UFO (Procure Space ETF) are both exchange-traded funds - SPRX is a Technology Equities fund actively managed by Spear, while UFO is a Global Equities fund tracking the S-Network Space Index. SPRX is actively managed, while UFO is passively managed. Over the past 3 years, SPRX returned 43.37%/yr vs 41.51%/yr for UFO. A 0.66 correlation means they provide meaningful diversification when combined. Both charge a 0.75% expense ratio.

Performance

SPRX vs. UFO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Spear Alpha ETF (SPRX) and Procure Space ETF (UFO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPRX achieves a 43.69% return, which is significantly higher than UFO's 36.92% return.

SPRX

• 1D: 1.50%
• 1M: 12.60%
• YTD: 43.69%
• 6M: 43.35%
• 1Y: 101.77%
• 3Y*: 43.37%
• 5Y*: —
• 10Y*: —

UFO

• 1D: -6.99%
• 1M: -6.10%
• YTD: 36.92%
• 6M: 37.68%
• 1Y: 104.39%
• 3Y*: 41.51%
• 5Y*: 13.50%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SPRX vs. UFO - 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%
UFO Procure Space ETF	36.92%	67.36%	27.22%	-2.34%	-25.85%	-8.69%

Correlation

The correlation between SPRX and UFO is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (All Time) Calculated using the full available price history since Aug 4, 2021	0.66

The correlation between SPRX and UFO has been stable across timeframes, ranging from 0.62 to 0.71 - a consistent structural relationship.

SPRX vs. UFO - Sectors Allocation Comparison

Sectors	SPRX	UFO
Technology	72.7%	22.0%
Industrials	15.5%	47.2%
Financial Services	8.0%	-
Communication Services	3.9%	30.8%
Utilities	1.4%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

SPRX vs. UFO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPRX

SPRX Risk / Return Rank: 75
SPRX Sharpe Ratio Rank: 81
SPRX Sortino Ratio Rank: 65
SPRX Omega Ratio Rank: 66
SPRX Calmar Ratio Rank: 86
SPRX Martin Ratio Rank: 78

UFO

UFO Risk / Return Rank: 83
UFO Sharpe Ratio Rank: 89
UFO Sortino Ratio Rank: 80
UFO Omega Ratio Rank: 73
UFO Calmar Ratio Rank: 89
UFO Martin Ratio Rank: 82

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SPRX vs. UFO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Spear Alpha ETF (SPRX) and Procure Space ETF (UFO). 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	UFO	Difference
Sharpe ratio: Return per unit of total volatility	2.23	2.58	-0.35
Sortino ratio: Return per unit of downside risk	2.61	3.06	-0.45
Omega ratio: Gain probability vs. loss probability	1.34	1.37	-0.03
Calmar ratio: Return relative to maximum drawdown	4.23	4.58	-0.35
Martin ratio: Return relative to average drawdown	13.10	14.05	-0.95

SPRX vs. UFO - Sharpe Ratio Comparison

The current SPRX Sharpe Ratio is 2.23, which is comparable to the UFO Sharpe Ratio of 2.58. The chart below compares the historical Sharpe Ratios of SPRX and UFO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SPRX vs. UFO - Drawdown Comparison

The maximum SPRX drawdown since its inception was -51.21%, roughly equal to the maximum UFO drawdown of -50.33%. Use the drawdown chart below to compare losses from any high point for SPRX and UFO.

Drawdown Indicators

	SPRX	UFO	Difference
Max Drawdown Largest peak-to-trough decline	-51.21%	-50.33%	-0.88%
Max Drawdown (1Y) Largest decline over 1 year	-24.21%	-22.94%	-1.27%
Max Drawdown (3Y) Largest decline over 3 years	-42.12%	-25.91%	-16.21%
Max Drawdown (5Y) Largest decline over 5 years	—	-50.33%	—
Current Drawdown Current decline from peak	-5.87%	-21.95%	+16.08%
Average Drawdown Average peak-to-trough decline	-17.58%	-21.80%	+4.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.80%	7.46%	+0.34%

Volatility

SPRX vs. UFO - Volatility Comparison

Spear Alpha ETF (SPRX) and Procure Space ETF (UFO) have volatilities of 19.77% and 20.43%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPRX	UFO	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.77%	20.43%	-0.66%
Volatility (6M) Calculated over the trailing 6-month period	38.52%	34.11%	+4.41%
Volatility (1Y) Calculated over the trailing 1-year period	45.91%	40.69%	+5.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.15%	30.59%	+11.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.15%	31.16%	+10.99%

SPRX vs. UFO - Expense Ratio Comparison

Both SPRX and UFO have an expense ratio of 0.75%.

Dividends

SPRX vs. UFO - Dividend Comparison

SPRX has not paid dividends to shareholders, while UFO's dividend yield for the trailing twelve months is around 0.31%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
SPRX Spear Alpha ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.25%	0.00%	0.00%
UFO Procure Space ETF	0.31%	0.46%	1.98%	1.90%	3.19%	1.00%	1.07%	0.45%

Frequently Asked Questions

Can I hold both SPRX and UFO in my portfolio?

SPRX and UFO have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPRX or UFO?

UFO has higher volatility (20.43%) compared to SPRX (19.77%). In terms of maximum drawdown, SPRX dropped -51.21% vs UFO's -50.33%.

Which ETF is better, SPRX or UFO?

On 3-year performance, SPRX leads with 43.37% vs 41.51% for UFO. Both ETFs have the same 0.75% expense ratio. On volatility, SPRX has been the lower-risk option at 19.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPRX or UFO?

Over the 3-year period, SPRX has performed better with a 43.37% return vs 41.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPRX or UFO?

SPRX and UFO have the same expense ratio: 0.75% per year.

Which ETF pays a higher dividend yield, SPRX or UFO?

UFO has the higher dividend yield at 0.31%, compared with 0.00% for SPRX.

What is the main difference between SPRX and UFO?

SPRX is categorized as Technology Equities, while UFO is Global Equities. They also come from different issuers: Spear and ProcureAM.

Which has better risk-adjusted returns?

UFO currently has the higher Sharpe Ratio (2.58 vs 2.23), 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.