SPRX vs. ZBRA
SPRX (Spear Alpha ETF) is Technology Equities fund actively managed by Spear, while ZBRA (Zebra Technologies Corporation) is a stock. Over the past 3 years, SPRX returned 44.05%/yr vs -5.33%/yr for ZBRA. A 0.58 correlation means they provide meaningful diversification when combined.
Performance
SPRX vs. ZBRA - Performance Comparison
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Returns By Period
In the year-to-date period, SPRX achieves a 39.82% return, which is significantly higher than ZBRA's -4.03% return.
SPRX
- 1D
- 4.65%
- 1M
- 17.24%
- YTD
- 39.82%
- 6M
- 30.97%
- 1Y
- 97.11%
- 3Y*
- 44.05%
- 5Y*
- —
- 10Y*
- —
ZBRA
- 1D
- 0.40%
- 1M
- 3.10%
- YTD
- -4.03%
- 6M
- -11.86%
- 1Y
- -21.10%
- 3Y*
- -5.33%
- 5Y*
- -14.34%
- 10Y*
- 15.32%
SPRX vs. ZBRA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SPRX Spear Alpha ETF | 39.82% | 41.91% | 20.58% | 88.02% | -44.99% | 8.91% |
ZBRA Zebra Technologies Corporation | -4.03% | -37.13% | 41.30% | 6.60% | -56.92% | 6.29% |
Correlation
The correlation between SPRX and ZBRA is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Aug 5, 2021 | 0.58 |
Over the past year, the correlation between SPRX and ZBRA has dropped to 0.37 - well below their long-term average of 0.58, suggesting their price drivers have been diverging.
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Return for Risk
SPRX vs. ZBRA — Risk / Return Rank
SPRX
ZBRA
SPRX vs. ZBRA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Spear Alpha ETF (SPRX) and Zebra Technologies Corporation (ZBRA). 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.
| SPRX | ZBRA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.68 | ||
| Sortino ratioReturn per unit of downside risk | +3.04 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 0.94 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 4.03 | -0.51 | +4.54 |
| Martin ratioReturn relative to average drawdown | 12.67 | -0.88 | +13.55 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPRX | ZBRA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.17 | -0.51 | +2.68 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.36 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.39 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.24 | +0.30 |
Drawdowns
SPRX vs. ZBRA - Drawdown Comparison
The maximum SPRX drawdown since its inception was -51.21%, smaller than the maximum ZBRA drawdown of -73.42%. Use the drawdown chart below to compare losses from any high point for SPRX and ZBRA.
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Drawdown Indicators
| SPRX | ZBRA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.21% | -73.42% | +22.21% |
Max Drawdown (1Y)Largest decline over 1 year | -24.21% | -41.62% | +17.41% |
Max Drawdown (3Y)Largest decline over 3 years | -42.12% | -52.67% | +10.55% |
Max Drawdown (5Y)Largest decline over 5 years | — | -67.78% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -67.78% | — |
Current DrawdownCurrent decline from peak | -8.41% | -62.08% | +53.67% |
Average DrawdownAverage peak-to-trough decline | -17.62% | -27.69% | +10.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.69% | 23.98% | -16.29% |
Volatility
SPRX vs. ZBRA - Volatility Comparison
Spear Alpha ETF (SPRX) has a higher volatility of 18.67% compared to Zebra Technologies Corporation (ZBRA) at 16.92%. This indicates that SPRX's price experiences larger fluctuations and is considered to be riskier than ZBRA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPRX | ZBRA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.67% | 16.92% | +1.75% |
Volatility (6M)Calculated over the trailing 6-month period | 37.41% | 30.20% | +7.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.02% | 41.55% | +3.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.01% | 40.33% | +1.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.01% | 39.31% | +2.70% |
Dividends
SPRX vs. ZBRA - Dividend Comparison
Neither SPRX nor ZBRA has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
SPRX Spear Alpha ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.25% |
ZBRA Zebra Technologies Corporation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPRX and ZBRA have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPRX has higher volatility (18.67%) compared to ZBRA (16.92%). In terms of maximum drawdown, SPRX dropped -51.21% vs ZBRA's -73.42%.
SPRX currently has the higher Sharpe Ratio (2.17 vs -0.51), 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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