SPRX vs. XPND

Last updated Jul 12, 2026

SPRX (Spear Alpha ETF) and XPND (First Trust Expanded Technology ETF) are both Technology Equities funds. Both are actively managed. Over the past 3 years, SPRX returned 39.84%/yr vs 24.57%/yr for XPND. Their correlation of 0.83 suggests significant overlap in exposure. SPRX charges 0.75%/yr vs 0.65%/yr for XPND.

Performance

SPRX vs. XPND - Performance Comparison

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

Returns By Period

In the year-to-date period, SPRX achieves a 32.60% return, which is significantly higher than XPND's 11.85% return.

SPRX

• 1D: -1.41%
• 1M: -7.72%
• 6M: 25.66%
• YTD: 32.60%
• 1Y: 73.11%
• 3Y*: 39.84%
• 5Y*: —
• 10Y*: —

XPND

• 1D: -0.12%
• 1M: 0.00%
• 6M: 10.49%
• YTD: 11.85%
• 1Y: 21.69%
• 3Y*: 24.57%
• 5Y*: 14.07%
• 10Y*: —

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

SPRX vs. XPND - 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%
XPND First Trust Expanded Technology ETF	11.85%	18.82%	29.61%	46.13%	-29.66%	7.12%

Correlation

The correlation between SPRX and XPND is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (All Time) Calculated using the full available price history since Aug 4, 2021	0.83

The correlation between SPRX and XPND has been stable across timeframes, ranging from 0.79 to 0.83 - a consistent structural relationship.

SPRX vs. XPND - Sectors Allocation Comparison

Sectors	SPRX	XPND
Technology	82.1%	74.6%
Industrials	9.8%	-
Basic Materials	9.2%	-
Financial Services	8.1%	7.7%
Communication Services	3.9%	17.7%
Healthcare	2.0%	-
Utilities	1.4%	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Real Estate	-	-

Return for Risk

SPRX vs. XPND — Risk / Return Rank

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

SPRX

SPRX Risk / Return Rank: 57
SPRX Sharpe Ratio Rank: 53
SPRX Sortino Ratio Rank: 48
SPRX Omega Ratio Rank: 48
SPRX Calmar Ratio Rank: 73
SPRX Martin Ratio Rank: 62

XPND

XPND Risk / Return Rank: 31
XPND Sharpe Ratio Rank: 33
XPND Sortino Ratio Rank: 31
XPND Omega Ratio Rank: 32
XPND Calmar Ratio Rank: 29
XPND Martin Ratio Rank: 30

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. XPND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Spear Alpha ETF (SPRX) and First Trust Expanded Technology ETF (XPND). 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	XPND	Difference
Sharpe ratio: Return per unit of total volatility	1.47	1.00	+0.48
Sortino ratio: Return per unit of downside risk	1.95	1.42	+0.54
Omega ratio: Gain probability vs. loss probability	1.25	1.18	+0.07
Calmar ratio: Return relative to maximum drawdown	2.96	1.19	+1.77
Martin ratio: Return relative to average drawdown	8.74	3.38	+5.36

SPRX vs. XPND - Sharpe Ratio Comparison

The current SPRX Sharpe Ratio is 1.47, which is higher than the XPND Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of SPRX and XPND, 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. XPND - Drawdown Comparison

The maximum SPRX drawdown since its inception was -51.21%, which is greater than XPND's maximum drawdown of -38.00%. Use the drawdown chart below to compare losses from any high point for SPRX and XPND.

Drawdown Indicators

	SPRX	XPND	Difference
Max Drawdown Largest peak-to-trough decline	-51.21%	-38.00%	-13.21%
Max Drawdown (1Y) Largest decline over 1 year	-24.21%	-17.38%	-6.83%
Max Drawdown (3Y) Largest decline over 3 years	-42.12%	-23.37%	-18.75%
Max Drawdown (5Y) Largest decline over 5 years	—	-38.00%	—
Current Drawdown Current decline from peak	-13.14%	-4.65%	-8.49%
Average Drawdown Average peak-to-trough decline	-17.44%	-9.96%	-7.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.18%	6.11%	+2.07%

Volatility

SPRX vs. XPND - Volatility Comparison

Spear Alpha ETF (SPRX) has a higher volatility of 20.37% compared to First Trust Expanded Technology ETF (XPND) at 10.12%. This indicates that SPRX's price experiences larger fluctuations and is considered to be riskier than XPND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPRX	XPND	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.37%	10.12%	+10.25%
Volatility (6M) Calculated over the trailing 6-month period	40.08%	17.63%	+22.45%
Volatility (1Y) Calculated over the trailing 1-year period	48.69%	20.81%	+27.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.60%	24.30%	+18.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.60%	24.18%	+18.42%

SPRX vs. XPND - Expense Ratio Comparison

SPRX has a 0.75% expense ratio, which is higher than XPND's 0.65% expense ratio.

Dividends

SPRX vs. XPND - Dividend Comparison

SPRX has not paid dividends to shareholders, while XPND's dividend yield for the trailing twelve months is around 0.08%.

Position	TTM	2025	2024	2023	2022	2021
SPRX Spear Alpha ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.25%
XPND First Trust Expanded Technology ETF	0.08%	0.08%	0.12%	0.18%	0.34%	0.02%

Frequently Asked Questions

Can I hold both SPRX and XPND in my portfolio?

SPRX and XPND have a correlation of 0.79, 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 XPND?

SPRX has higher volatility (20.37%) compared to XPND (10.12%). In terms of maximum drawdown, SPRX dropped -51.21% vs XPND's -38.00%.

Which ETF is better, SPRX or XPND?

On 3-year performance, SPRX leads with 39.84% vs 24.57% for XPND. On fees, XPND is cheaper at 0.65% per year. On volatility, XPND has been the lower-risk option at 10.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPRX or XPND?

Over the 3-year period, SPRX has performed better with a 39.84% return vs 24.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPRX or XPND?

XPND is cheaper with a 0.65% expense ratio, compared with 0.75% for SPRX.

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

XPND has the higher dividend yield at 0.08%, compared with 0.00% for SPRX.

What is the main difference between SPRX and XPND?

They also come from different issuers: Spear and First Trust. Their fees differ too: 0.75% for SPRX and 0.65% for XPND.

Which has better risk-adjusted returns?

SPRX currently has the higher Sharpe Ratio (1.47 vs 1.00), 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.