UFOX vs. SPRX

Last updated Jun 24, 2026

UFOX (Defiance Connective Technologies ETF) and SPRX (Spear Alpha ETF) are both Technology Equities funds. UFOX is passively managed, while SPRX is actively managed. Over the past 3 years, UFOX returned 42.75%/yr vs 44.95%/yr for SPRX. Their correlation of 0.84 suggests significant overlap in exposure. UFOX charges 0.30%/yr vs 0.75%/yr for SPRX.

Performance

UFOX vs. SPRX - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with UFOX having a 42.92% return and SPRX slightly lower at 42.47%.

UFOX

• 1D: -3.21%
• 1M: -8.35%
• YTD: 42.92%
• 6M: 40.39%
• 1Y: 82.24%
• 3Y*: 42.75%
• 5Y*: 20.74%
• 10Y*: —

SPRX

• 1D: -6.30%
• 1M: 3.69%
• YTD: 42.47%
• 6M: 36.68%
• 1Y: 97.27%
• 3Y*: 44.95%
• 5Y*: —
• 10Y*: —

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

UFOX vs. SPRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
UFOX Defiance Connective Technologies ETF	42.92%	34.83%	34.11%	21.83%	-27.26%	8.53%
SPRX Spear Alpha ETF	42.47%	41.91%	20.58%	88.02%	-44.99%	9.15%

Correlation

The correlation between UFOX and SPRX is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (All Time) Calculated using the full available price history since Aug 4, 2021	0.84

The correlation between UFOX and SPRX has been stable across timeframes, ranging from 0.84 to 0.85 - a consistent structural relationship.

UFOX vs. SPRX - Sectors Allocation Comparison

Sectors	UFOX	SPRX
Technology	75.8%	68.0%
Industrials	13.9%	16.2%
Communication Services	7.1%	3.9%
Real Estate	3.2%	-
Basic Materials	-	9.2%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	8.0%
Healthcare	-	2.0%
Utilities	-	1.4%

Return for Risk

UFOX vs. SPRX — Risk / Return Rank

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

UFOX

UFOX Risk / Return Rank: 89
UFOX Sharpe Ratio Rank: 91
UFOX Sortino Ratio Rank: 84
UFOX Omega Ratio Rank: 83
UFOX Calmar Ratio Rank: 92
UFOX Martin Ratio Rank: 93

SPRX

SPRX Risk / Return Rank: 65
SPRX Sharpe Ratio Rank: 67
SPRX Sortino Ratio Rank: 54
SPRX Omega Ratio Rank: 54
SPRX Calmar Ratio Rank: 81
SPRX Martin Ratio Rank: 70

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.

UFOX vs. SPRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Connective Technologies ETF (UFOX) 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.

	UFOX	SPRX	Difference
Sharpe ratio: Return per unit of total volatility	2.93	2.09	+0.84
Sortino ratio: Return per unit of downside risk	3.49	2.48	+1.01
Omega ratio: Gain probability vs. loss probability	1.46	1.33	+0.14
Calmar ratio: Return relative to maximum drawdown	5.78	4.04	+1.74
Martin ratio: Return relative to average drawdown	22.15	12.47	+9.67

UFOX vs. SPRX - Sharpe Ratio Comparison

The current UFOX Sharpe Ratio is 2.93, which is higher than the SPRX Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of UFOX 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

UFOX vs. SPRX - Drawdown Comparison

The maximum UFOX drawdown since its inception was -33.90%, smaller than the maximum SPRX drawdown of -51.21%. Use the drawdown chart below to compare losses from any high point for UFOX and SPRX.

Drawdown Indicators

	UFOX	SPRX	Difference
Max Drawdown Largest peak-to-trough decline	-33.90%	-51.21%	+17.31%
Max Drawdown (1Y) Largest decline over 1 year	-14.31%	-24.21%	+9.90%
Max Drawdown (3Y) Largest decline over 3 years	-28.14%	-42.12%	+13.98%
Max Drawdown (5Y) Largest decline over 5 years	-33.90%	—	—
Current Drawdown Current decline from peak	-14.31%	-6.67%	-7.64%
Average Drawdown Average peak-to-trough decline	-9.03%	-17.51%	+8.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.73%	7.82%	-4.09%

Volatility

UFOX vs. SPRX - Volatility Comparison

The current volatility for Defiance Connective Technologies ETF (UFOX) is 13.96%, while Spear Alpha ETF (SPRX) has a volatility of 20.61%. This indicates that UFOX experiences smaller price fluctuations and is considered to be less risky than SPRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UFOX	SPRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.96%	20.61%	-6.65%
Volatility (6M) Calculated over the trailing 6-month period	23.11%	38.30%	-15.19%
Volatility (1Y) Calculated over the trailing 1-year period	28.22%	46.83%	-18.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.17%	42.31%	-17.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.52%	42.31%	-16.79%

UFOX vs. SPRX - Expense Ratio Comparison

UFOX has a 0.30% expense ratio, which is lower than SPRX's 0.75% expense ratio.

Dividends

UFOX vs. SPRX - Dividend Comparison

UFOX's dividend yield for the trailing twelve months is around 0.41%, 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%
UFOX Defiance Connective Technologies ETF	0.41%	0.56%	0.79%	1.40%	1.63%	1.17%	0.99%	0.75%

Frequently Asked Questions

Can I hold both UFOX and SPRX in my portfolio?

UFOX and SPRX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UFOX or SPRX?

SPRX has higher volatility (20.61%) compared to UFOX (13.96%). In terms of maximum drawdown, UFOX dropped -33.90% vs SPRX's -51.21%.

Which ETF is better, UFOX or SPRX?

On 3-year performance, SPRX leads with 44.95% vs 42.75% for UFOX. On fees, UFOX is cheaper at 0.30% per year. On volatility, UFOX has been the lower-risk option at 13.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UFOX or SPRX?

Over the 3-year period, SPRX has performed better with a 44.95% return vs 42.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UFOX or SPRX?

UFOX is cheaper with a 0.30% expense ratio, compared with 0.75% for SPRX.

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

UFOX has the higher dividend yield at 0.41%, compared with 0.00% for SPRX.

What is the main difference between UFOX and SPRX?

They also come from different issuers: Defiance and Spear. Their fees differ too: 0.30% for UFOX and 0.75% for SPRX.

Which has better risk-adjusted returns?

UFOX currently has the higher Sharpe Ratio (2.93 vs 2.09), 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.