SPRX vs. VOO

Last updated Aug 2, 2026

SPRX (Spear Alpha ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - SPRX is a Technology Equities fund actively managed by Spear, while VOO is a S&P 500 fund tracking the S&P 500 Index. SPRX is actively managed, while VOO is passively managed. Over the past 3 years, SPRX returned 29.23%/yr vs 19.42%/yr for VOO. Their 0.77 correlation means they have sometimes moved together and sometimes differently. SPRX charges 0.75%/yr vs 0.03%/yr for VOO.

Performance

SPRX vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Spear Alpha ETF (SPRX) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with SPRX having a 10.60% return and VOO slightly lower at 10.16%.

SPRX

• 1D: 1.12%
• 1M: -16.08%
• 6M: 5.15%
• YTD: 10.60%
• 1Y: 32.41%
• 3Y*: 29.23%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.44%

VOO

• 1D: 0.71%
• 1M: 0.26%
• 6M: 8.58%
• YTD: 10.16%
• 1Y: 21.58%
• 3Y*: 19.42%
• 5Y*: 12.83%
• 10Y*: 15.14%
• ALL TIME*: 14.78%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SPRX Spear Alpha ETF	$6.60M	$5.75M	$7.61M
VOO Vanguard S&P 500 ETF	$3.82B	$3.78B	$5.44B

SPRX vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SPRX Spear Alpha ETF	10.60%	41.91%	20.58%	88.02%	-44.99%	9.15%
VOO Vanguard S&P 500 ETF	10.16%	17.82%	24.98%	26.32%	-18.17%	8.39%

Correlation

The correlation between SPRX and VOO is 0.72, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.72
Correlation (3Y) Balances recent behavior with more history.	0.73
Correlation (All Time) Calculated using the full available price history since Aug 4, 2021	0.77

The correlation between SPRX and VOO has been stable across timeframes, ranging from 0.72 to 0.77 - a consistent structural relationship.

SPRX vs. VOO - Sectors Allocation Comparison

Sectors	SPRX	VOO
Technology	88.5%	38.6%
Basic Materials	9.2%	1.7%
Financial Services	6.5%	11.4%
Industrials	5.0%	8.5%
Communication Services	3.9%	9.9%
Healthcare	2.0%	8.9%
Utilities	1.4%	2.2%
Consumer Cyclical	-	9.5%
Consumer Defensive	-	4.5%
Energy	-	3.0%
Real Estate	-	1.8%

Return for Risk

SPRX vs. VOO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SPRX

SPRX Risk / Return Rank: 27
SPRX Sharpe Ratio Rank: 24
SPRX Sortino Ratio Rank: 28
SPRX Omega Ratio Rank: 27
SPRX Calmar Ratio Rank: 25
SPRX Martin Ratio Rank: 30

VOO

VOO Risk / Return Rank: 68
VOO Sharpe Ratio Rank: 68
VOO Sortino Ratio Rank: 65
VOO Omega Ratio Rank: 66
VOO Calmar Ratio Rank: 64
VOO Martin Ratio Rank: 76

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SPRX vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Spear Alpha ETF (SPRX) and Vanguard S&P 500 ETF (VOO). 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	VOO	Difference
Sharpe ratio: Return per unit of total volatility	0.54	1.53	-1.00
Sortino ratio: Return per unit of downside risk	1.05	2.13	-1.08
Omega ratio: Gain probability vs. loss probability	1.13	1.28	-0.15
Calmar ratio: Return relative to maximum drawdown	0.78	2.21	-1.43
Martin ratio: Return relative to average drawdown	2.74	9.44	-6.69

SPRX vs. VOO - Sharpe Ratio Comparison

The current SPRX Sharpe Ratio is 0.54, which is lower than the VOO Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of SPRX and VOO, 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. VOO - Drawdown Comparison

The maximum SPRX drawdown since its inception was -51.21%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for SPRX and VOO.

Drawdown Indicators

	SPRX	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-51.21%	-33.99%	-17.22%
Max Drawdown (1Y) Largest decline over 1 year	-35.87%	-8.90%	-26.97%
Max Drawdown (3Y) Largest decline over 3 years	-42.12%	-18.69%	-23.43%
Max Drawdown (5Y) Largest decline over 5 years	-51.21%	-24.52%	-26.69%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.99%	—
Current Drawdown Current decline from peak	-27.55%	-1.38%	-26.17%
Average Drawdown Average peak-to-trough decline	-17.53%	-3.67%	-13.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.18%	2.08%	+8.10%

Volatility

SPRX vs. VOO - Volatility Comparison

Spear Alpha ETF (SPRX) has a higher volatility of 21.68% compared to Vanguard S&P 500 ETF (VOO) at 3.54%. This indicates that SPRX's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPRX	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.68%	3.54%	+18.14%
Volatility (6M) Calculated over the trailing 6-month period	43.65%	10.10%	+33.55%
Volatility (1Y) Calculated over the trailing 1-year period	52.09%	12.82%	+39.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.22%	16.93%	+26.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.22%	18.01%	+25.21%

SPRX vs. VOO - Expense Ratio Comparison

SPRX has a 0.75% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

SPRX vs. VOO - Dividend Comparison

SPRX has not paid dividends to shareholders, while VOO's dividend yield for the trailing twelve months is around 1.07%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPRX Spear Alpha ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.25%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VOO Vanguard S&P 500 ETF	1.07%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both SPRX and VOO in my portfolio?

SPRX and VOO have a correlation of 0.72, 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 VOO?

SPRX has higher volatility (21.68%) compared to VOO (3.54%). In terms of maximum drawdown, SPRX dropped -51.21% vs VOO's -33.99%.

Which ETF is better, SPRX or VOO?

On 3-year performance, SPRX leads with 29.23% vs 19.42% for VOO. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 3.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPRX or VOO?

Over the 3-year period, SPRX has performed better with a 29.23% return vs 19.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPRX or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.75% for SPRX.

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

VOO has the higher dividend yield at 1.07%, compared with 0.00% for SPRX.

What is the main difference between SPRX and VOO?

SPRX is categorized as Technology Equities, while VOO is S&P 500. They also come from different issuers: Spear and Vanguard. Their fees differ too: 0.75% for SPRX and 0.03% for VOO.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (1.53 vs 0.54), 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.