WUGI vs. SPRX

Last updated Jun 13, 2026

WUGI (Esoterica NextG Economy ETF) and SPRX (Spear Alpha ETF) are both exchange-traded funds - WUGI is a Large Cap Growth Equities fund actively managed by Esoterica, while SPRX is a Technology Equities fund actively managed by Spear. Both are actively managed. Over the past 3 years, WUGI returned 33.73%/yr vs 43.37%/yr for SPRX. Their correlation of 0.86 suggests significant overlap in exposure. Both charge a 0.75% expense ratio.

Performance

WUGI vs. SPRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Esoterica NextG Economy ETF (WUGI) 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, WUGI achieves a 23.35% return, which is significantly lower than SPRX's 43.69% return.

WUGI

• 1D: 1.10%
• 1M: 5.98%
• YTD: 23.35%
• 6M: 25.24%
• 1Y: 38.78%
• 3Y*: 33.73%
• 5Y*: 16.13%
• 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)

WUGI vs. SPRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
WUGI Esoterica NextG Economy ETF	23.35%	22.66%	47.14%	61.30%	-49.55%	11.51%
SPRX Spear Alpha ETF	43.69%	41.91%	20.58%	88.02%	-44.99%	9.15%

Correlation

The correlation between WUGI and SPRX is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (All Time) Calculated using the full available price history since Aug 4, 2021	0.86

The correlation between WUGI and SPRX has been stable across timeframes, ranging from 0.78 to 0.86 - a consistent structural relationship.

WUGI vs. SPRX - Sectors Allocation Comparison

Sectors	WUGI	SPRX
Technology	70.5%	72.7%
Communication Services	12.1%	3.9%
Industrials	9.3%	15.5%
Consumer Cyclical	6.3%	-
Financial Services	1.8%	8.0%
Healthcare	0.2%	-
Consumer Defensive	0.1%	-
Real Estate	0.1%	-
Basic Materials	0.0%	-
Energy	0.0%	-
Utilities	-	1.4%

Return for Risk

WUGI vs. SPRX — Risk / Return Rank

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

WUGI

WUGI Risk / Return Rank: 49
WUGI Sharpe Ratio Rank: 51
WUGI Sortino Ratio Rank: 47
WUGI Omega Ratio Rank: 49
WUGI Calmar Ratio Rank: 49
WUGI Martin Ratio Rank: 47

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.

WUGI vs. SPRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Esoterica NextG Economy ETF (WUGI) 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.

	WUGI	SPRX	Difference
Sharpe ratio: Return per unit of total volatility	1.54	2.23	-0.69
Sortino ratio: Return per unit of downside risk	2.08	2.61	-0.54
Omega ratio: Gain probability vs. loss probability	1.28	1.34	-0.07
Calmar ratio: Return relative to maximum drawdown	2.17	4.23	-2.06
Martin ratio: Return relative to average drawdown	7.02	13.10	-6.08

WUGI vs. SPRX - Sharpe Ratio Comparison

The current WUGI Sharpe Ratio is 1.54, which is lower than the SPRX Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of WUGI 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

WUGI vs. SPRX - Drawdown Comparison

The maximum WUGI drawdown since its inception was -56.41%, which is greater than SPRX's maximum drawdown of -51.21%. Use the drawdown chart below to compare losses from any high point for WUGI and SPRX.

Drawdown Indicators

	WUGI	SPRX	Difference
Max Drawdown Largest peak-to-trough decline	-56.41%	-51.21%	-5.20%
Max Drawdown (1Y) Largest decline over 1 year	-17.99%	-24.21%	+6.22%
Max Drawdown (3Y) Largest decline over 3 years	-27.49%	-42.12%	+14.63%
Max Drawdown (5Y) Largest decline over 5 years	-56.41%	—	—
Current Drawdown Current decline from peak	-3.98%	-5.87%	+1.89%
Average Drawdown Average peak-to-trough decline	-16.61%	-17.58%	+0.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.54%	7.80%	-2.26%

Volatility

WUGI vs. SPRX - Volatility Comparison

The current volatility for Esoterica NextG Economy ETF (WUGI) is 13.03%, while Spear Alpha ETF (SPRX) has a volatility of 19.77%. This indicates that WUGI 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

	WUGI	SPRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.03%	19.77%	-6.74%
Volatility (6M) Calculated over the trailing 6-month period	22.14%	38.52%	-16.38%
Volatility (1Y) Calculated over the trailing 1-year period	25.36%	45.91%	-20.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.07%	42.15%	-11.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.09%	42.15%	-11.06%

WUGI vs. SPRX - Expense Ratio Comparison

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

Dividends

WUGI vs. SPRX - Dividend Comparison

WUGI's dividend yield for the trailing twelve months is around 18.51%, while SPRX has not 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%
WUGI Esoterica NextG Economy ETF	18.51%	22.83%	4.09%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WUGI and SPRX in my portfolio?

WUGI and SPRX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WUGI or SPRX?

SPRX has higher volatility (19.77%) compared to WUGI (13.03%). In terms of maximum drawdown, WUGI dropped -56.41% vs SPRX's -51.21%.

Which ETF is better, WUGI or SPRX?

On 3-year performance, SPRX leads with 43.37% vs 33.73% for WUGI. Both ETFs have the same 0.75% expense ratio. On volatility, WUGI has been the lower-risk option at 13.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WUGI or SPRX?

Over the 3-year period, SPRX has performed better with a 43.37% return vs 33.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WUGI or SPRX?

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

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

WUGI has the higher dividend yield at 18.51%, compared with 0.00% for SPRX.

What is the main difference between WUGI and SPRX?

WUGI is categorized as Large Cap Growth Equities, while SPRX is Technology Equities. They also come from different issuers: Esoterica and Spear.

Which has better risk-adjusted returns?

SPRX currently has the higher Sharpe Ratio (2.23 vs 1.54), 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.