UFO vs. SPRX

Last updated Jun 13, 2026

UFO (Procure Space ETF) and SPRX (Spear Alpha ETF) are both exchange-traded funds - UFO is a Global Equities fund tracking the S-Network Space Index, while SPRX is a Technology Equities fund actively managed by Spear. UFO is passively managed, while SPRX is actively managed. Over the past 3 years, UFO returned 41.51%/yr vs 43.37%/yr for SPRX. A 0.66 correlation means they provide meaningful diversification when combined. Both charge a 0.75% expense ratio.

Performance

UFO vs. SPRX - Performance Comparison

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

Returns By Period

In the year-to-date period, UFO achieves a 36.92% return, which is significantly lower than SPRX's 43.69% return.

UFO

• 1D: -6.99%
• 1M: -6.10%
• YTD: 36.92%
• 6M: 37.68%
• 1Y: 104.39%
• 3Y*: 41.51%
• 5Y*: 13.50%
• 10Y*: —

SPRX

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

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

UFO vs. SPRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
UFO Procure Space ETF	36.92%	67.36%	27.22%	-2.34%	-25.85%	-8.69%
SPRX Spear Alpha ETF	43.69%	41.91%	20.58%	88.02%	-44.99%	9.15%

Correlation

The correlation between UFO and SPRX is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (All Time) Calculated using the full available price history since Aug 4, 2021	0.66

The correlation between UFO and SPRX has been stable across timeframes, ranging from 0.62 to 0.71 - a consistent structural relationship.

UFO vs. SPRX - Sectors Allocation Comparison

Sectors	UFO	SPRX
Industrials	47.2%	15.5%
Communication Services	30.8%	3.9%
Technology	22.0%	72.7%
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	8.0%
Healthcare	-	-
Real Estate	-	-
Utilities	-	1.4%

Return for Risk

UFO vs. SPRX — Risk / Return Rank

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

UFO

UFO Risk / Return Rank: 83
UFO Sharpe Ratio Rank: 89
UFO Sortino Ratio Rank: 80
UFO Omega Ratio Rank: 73
UFO Calmar Ratio Rank: 89
UFO Martin Ratio Rank: 82

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

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.

UFO vs. SPRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Procure Space ETF (UFO) and Spear Alpha ETF (SPRX). 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.

	UFO	SPRX	Difference
Sharpe ratio: Return per unit of total volatility	2.58	2.23	+0.35
Sortino ratio: Return per unit of downside risk	3.06	2.61	+0.45
Omega ratio: Gain probability vs. loss probability	1.37	1.34	+0.03
Calmar ratio: Return relative to maximum drawdown	4.58	4.23	+0.35
Martin ratio: Return relative to average drawdown	14.05	13.10	+0.95

UFO vs. SPRX - Sharpe Ratio Comparison

The current UFO Sharpe Ratio is 2.58, which is comparable to the SPRX Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of UFO and SPRX, 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

UFO vs. SPRX - Drawdown Comparison

The maximum UFO drawdown since its inception was -50.33%, roughly equal to the maximum SPRX drawdown of -51.21%. Use the drawdown chart below to compare losses from any high point for UFO and SPRX.

Drawdown Indicators

	UFO	SPRX	Difference
Max Drawdown Largest peak-to-trough decline	-50.33%	-51.21%	+0.88%
Max Drawdown (1Y) Largest decline over 1 year	-22.94%	-24.21%	+1.27%
Max Drawdown (3Y) Largest decline over 3 years	-25.91%	-42.12%	+16.21%
Max Drawdown (5Y) Largest decline over 5 years	-50.33%	—	—
Current Drawdown Current decline from peak	-21.95%	-5.87%	-16.08%
Average Drawdown Average peak-to-trough decline	-21.80%	-17.58%	-4.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.46%	7.80%	-0.34%

Volatility

UFO vs. SPRX - Volatility Comparison

Procure Space ETF (UFO) and Spear Alpha ETF (SPRX) have volatilities of 20.43% and 19.77%, 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.

Volatility by Period

	UFO	SPRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.43%	19.77%	+0.66%
Volatility (6M) Calculated over the trailing 6-month period	34.11%	38.52%	-4.41%
Volatility (1Y) Calculated over the trailing 1-year period	40.69%	45.91%	-5.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.59%	42.15%	-11.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.16%	42.15%	-10.99%

UFO vs. SPRX - Expense Ratio Comparison

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

Dividends

UFO vs. SPRX - Dividend Comparison

UFO's dividend yield for the trailing twelve months is around 0.31%, while SPRX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
SPRX Spear Alpha ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.25%	0.00%	0.00%
UFO Procure Space ETF	0.31%	0.46%	1.98%	1.90%	3.19%	1.00%	1.07%	0.45%

Frequently Asked Questions

Can I hold both UFO and SPRX in my portfolio?

UFO and SPRX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UFO or SPRX?

UFO has higher volatility (20.43%) compared to SPRX (19.77%). In terms of maximum drawdown, UFO dropped -50.33% vs SPRX's -51.21%.

Which ETF is better, UFO or SPRX?

On 3-year performance, SPRX leads with 43.37% vs 41.51% for UFO. Both ETFs have the same 0.75% expense ratio. On volatility, SPRX has been the lower-risk option at 19.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UFO or SPRX?

Over the 3-year period, SPRX has performed better with a 43.37% return vs 41.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UFO or SPRX?

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

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

UFO has the higher dividend yield at 0.31%, compared with 0.00% for SPRX.

What is the main difference between UFO and SPRX?

UFO is categorized as Global Equities, while SPRX is Technology Equities. They also come from different issuers: ProcureAM and Spear.

Which has better risk-adjusted returns?

UFO currently has the higher Sharpe Ratio (2.58 vs 2.23), 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.