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SPXT vs. ES=F
Performance
Risk-Adjusted Performance
Drawdowns
Volatility

SPXT vs. ES=F

Last updated May 18, 2025

Compare and contrast key facts about ProShares S&P 500 Ex-Technology ETF (SPXT) and S&P 500 E-Mini Futures (ES=F).

SPXT is a passively managed fund by ProShares that tracks the performance of the S&P 500 Ex-Information Technology & Telecommunication Services Index. It was launched on Sep 22, 2015.

Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SPXT or ES=F.

Correlation

The correlation between SPXT and ES=F is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Performance

SPXT vs. ES=F - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares S&P 500 Ex-Technology ETF (SPXT) and S&P 500 E-Mini Futures (ES=F). The values are adjusted to include any dividend payments, if applicable.

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Key characteristics

Sharpe Ratio

SPXT:

0.74

ES=F:

0.62

Sortino Ratio

SPXT:

1.18

ES=F:

1.00

Omega Ratio

SPXT:

1.18

ES=F:

1.15

Calmar Ratio

SPXT:

0.82

ES=F:

0.66

Martin Ratio

SPXT:

3.27

ES=F:

2.46

Ulcer Index

SPXT:

3.92%

ES=F:

4.93%

Daily Std Dev

SPXT:

16.55%

ES=F:

19.36%

Max Drawdown

SPXT:

-34.38%

ES=F:

-57.11%

Current Drawdown

SPXT:

-2.93%

ES=F:

-3.04%

Returns By Period

In the year-to-date period, SPXT achieves a 2.86% return, which is significantly higher than ES=F's 0.67% return.

SPXT

YTD

2.86%

1M

9.15%

6M

1.88%

1Y

11.85%

5Y*

14.26%

10Y*

N/A

ES=F

YTD

0.67%

1M

12.47%

6M

1.34%

1Y

12.17%

5Y*

14.73%

10Y*

10.49%

*Annualized

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Risk-Adjusted Performance

SPXT vs. ES=F — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPXT
The Risk-Adjusted Performance Rank of SPXT is 7272
Overall Rank
The Sharpe Ratio Rank of SPXT is 6969
Sharpe Ratio Rank
The Sortino Ratio Rank of SPXT is 6969
Sortino Ratio Rank
The Omega Ratio Rank of SPXT is 7373
Omega Ratio Rank
The Calmar Ratio Rank of SPXT is 7474
Calmar Ratio Rank
The Martin Ratio Rank of SPXT is 7474
Martin Ratio Rank
ES=F
The Risk-Adjusted Performance Rank of ES=F is 7777
Overall Rank
The Sharpe Ratio Rank of ES=F is 7878
Sharpe Ratio Rank
The Sortino Ratio Rank of ES=F is 7676
Sortino Ratio Rank
The Omega Ratio Rank of ES=F is 7777
Omega Ratio Rank
The Calmar Ratio Rank of ES=F is 7676
Calmar Ratio Rank
The Martin Ratio Rank of ES=F is 7878
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

SPXT vs. ES=F - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares S&P 500 Ex-Technology ETF (SPXT) and S&P 500 E-Mini Futures (ES=F). 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.

The current SPXT Sharpe Ratio is 0.74, which is comparable to the ES=F Sharpe Ratio of 0.62. The chart below compares the historical Sharpe Ratios of SPXT and ES=F, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Drawdowns

SPXT vs. ES=F - Drawdown Comparison

The maximum SPXT drawdown since its inception was -34.38%, smaller than the maximum ES=F drawdown of -57.11%. Use the drawdown chart below to compare losses from any high point for SPXT and ES=F. For additional features, visit the drawdowns tool.

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Volatility

SPXT vs. ES=F - Volatility Comparison

ProShares S&P 500 Ex-Technology ETF (SPXT) and S&P 500 E-Mini Futures (ES=F) have volatilities of 5.02% and 5.03%, 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.

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