SPRX vs. WUGI

Last updated Jun 13, 2026

SPRX (Spear Alpha ETF) and WUGI (Esoterica NextG Economy ETF) are both exchange-traded funds - SPRX is a Technology Equities fund actively managed by Spear, while WUGI is a Large Cap Growth Equities fund actively managed by Esoterica. Both are actively managed. Over the past 3 years, SPRX returned 43.37%/yr vs 33.73%/yr for WUGI. Their correlation of 0.86 suggests significant overlap in exposure. Both charge a 0.75% expense ratio.

Performance

SPRX vs. WUGI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Spear Alpha ETF (SPRX) and Esoterica NextG Economy ETF (WUGI). 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 WUGI's 23.35% return.

SPRX

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

WUGI

• 1D: 1.10%
• 1M: 5.98%
• YTD: 23.35%
• 6M: 25.24%
• 1Y: 38.78%
• 3Y*: 33.73%
• 5Y*: 16.13%
• 10Y*: —

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

SPRX vs. WUGI - 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%
WUGI Esoterica NextG Economy ETF	23.35%	22.66%	47.14%	61.30%	-49.55%	11.51%

Correlation

The correlation between SPRX and WUGI is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (All Time) Calculated using the full available price history since Aug 4, 2021	0.86

The correlation between SPRX and WUGI has been stable across timeframes, ranging from 0.78 to 0.86 - a consistent structural relationship.

SPRX vs. WUGI - Sectors Allocation Comparison

Sectors	SPRX	WUGI
Technology	72.7%	70.5%
Industrials	15.5%	9.3%
Financial Services	8.0%	1.8%
Communication Services	3.9%	12.1%
Utilities	1.4%	-
Basic Materials	-	0.0%
Consumer Cyclical	-	6.3%
Consumer Defensive	-	0.1%
Energy	-	0.0%
Healthcare	-	0.2%
Real Estate	-	0.1%

Return for Risk

SPRX vs. WUGI — 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

WUGI

WUGI Risk / Return Rank: 49
WUGI Sharpe Ratio Rank: 51
WUGI Sortino Ratio Rank: 47
WUGI Omega Ratio Rank: 49
WUGI Calmar Ratio Rank: 49
WUGI Martin Ratio Rank: 47

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. WUGI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Spear Alpha ETF (SPRX) and Esoterica NextG Economy ETF (WUGI). 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	WUGI	Difference
Sharpe ratio: Return per unit of total volatility	2.23	1.54	+0.69
Sortino ratio: Return per unit of downside risk	2.61	2.08	+0.54
Omega ratio: Gain probability vs. loss probability	1.34	1.28	+0.07
Calmar ratio: Return relative to maximum drawdown	4.23	2.17	+2.06
Martin ratio: Return relative to average drawdown	13.10	7.02	+6.08

SPRX vs. WUGI - Sharpe Ratio Comparison

The current SPRX Sharpe Ratio is 2.23, which is higher than the WUGI Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of SPRX and WUGI, 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. WUGI - Drawdown Comparison

The maximum SPRX drawdown since its inception was -51.21%, smaller than the maximum WUGI drawdown of -56.41%. Use the drawdown chart below to compare losses from any high point for SPRX and WUGI.

Drawdown Indicators

	SPRX	WUGI	Difference
Max Drawdown Largest peak-to-trough decline	-51.21%	-56.41%	+5.20%
Max Drawdown (1Y) Largest decline over 1 year	-24.21%	-17.99%	-6.22%
Max Drawdown (3Y) Largest decline over 3 years	-42.12%	-27.49%	-14.63%
Max Drawdown (5Y) Largest decline over 5 years	—	-56.41%	—
Current Drawdown Current decline from peak	-5.87%	-3.98%	-1.89%
Average Drawdown Average peak-to-trough decline	-17.58%	-16.61%	-0.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.80%	5.54%	+2.26%

Volatility

SPRX vs. WUGI - Volatility Comparison

Spear Alpha ETF (SPRX) has a higher volatility of 19.77% compared to Esoterica NextG Economy ETF (WUGI) at 13.03%. This indicates that SPRX's price experiences larger fluctuations and is considered to be riskier than WUGI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPRX	WUGI	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.77%	13.03%	+6.74%
Volatility (6M) Calculated over the trailing 6-month period	38.52%	22.14%	+16.38%
Volatility (1Y) Calculated over the trailing 1-year period	45.91%	25.36%	+20.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.15%	31.07%	+11.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.15%	31.09%	+11.06%

SPRX vs. WUGI - Expense Ratio Comparison

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

Dividends

SPRX vs. WUGI - Dividend Comparison

SPRX has not paid dividends to shareholders, while WUGI's dividend yield for the trailing twelve months is around 18.51%.

Position	TTM	2025	2024	2023	2022	2021
SPRX Spear Alpha ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.25%
WUGI Esoterica NextG Economy ETF	18.51%	22.83%	4.09%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPRX and WUGI in my portfolio?

SPRX and WUGI have a correlation of 0.78, 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 WUGI?

SPRX has higher volatility (19.77%) compared to WUGI (13.03%). In terms of maximum drawdown, SPRX dropped -51.21% vs WUGI's -56.41%.

Which ETF is better, SPRX or WUGI?

On 3-year performance, SPRX leads with 43.37% vs 33.73% for WUGI. Both ETFs have the same 0.75% expense ratio. On volatility, WUGI has been the lower-risk option at 13.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPRX or WUGI?

Over the 3-year period, SPRX has performed better with a 43.37% return vs 33.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPRX or WUGI?

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

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

WUGI has the higher dividend yield at 18.51%, compared with 0.00% for SPRX.

What is the main difference between SPRX and WUGI?

SPRX is categorized as Technology Equities, while WUGI is Large Cap Growth Equities. They also come from different issuers: Spear and Esoterica.

Which has better risk-adjusted returns?

SPRX currently has the higher Sharpe Ratio (2.23 vs 1.54), 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.