SPRX vs SPY
Spear Alpha ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPRX delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SPRX | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.75% | 0.09% | |
| AUM | $202M | $789.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 30 | 505 | |
| YTD Return | +16.05% | +13.75% | |
| 1Y Return | +34.50% | +22.91% | |
| 3Y Return (annualized) | +39.04% | +21.67% | |
| 5Y Return (annualized) | +17.92% | +13.32% | |
| Volatility (annualized) | 39.2% | 15.3% | |
| Max Drawdown | -51.2% | -56.5% | |
| Fund Family | Spear | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Aug 3, 2021 | Jan 22, 1993 |
SPRX vs SPY Performance
Spear Alpha ETF (SPRX) is a ETF from Spear and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year SPRX returned +34.50% while SPY returned +22.91%. Year to date, SPRX is up 16.05% versus a gain of 13.75% for SPY.
Over three years, SPRX compounded at +39.04% per year against +21.67% for SPY; over five years the annualized figures are +17.92% and +13.32% respectively. Across the full 5-year window we track, SPRX has the edge at +18.51% annualized vs +8.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPRX has been the more volatile fund, with annualized monthly volatility of 39.2% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -51.2% for SPRX and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.68. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPRX charges 0.75% per year while SPY charges 0.09%. On a $10,000 position that is $75 vs $9 annually, a gap of $66 per year that compounds over a long holding period. On income, SPRX currently yields 0.00% against 1.01% for SPY.
Holdings Overlap
SPRX and SPY share 12 holdings out of 518 unique holdings combined, representing a 5.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPRX or SPY?
SPRX has an expense ratio of 0.75% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $66 per year of difference.
Which performed better, SPRX or SPY?
Over the past year SPRX returned +34.50% vs +22.91% for SPY, so SPRX leads on 1-year performance. Over the longest common window we track (5 years), SPRX annualized +18.51% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, SPRX or SPY?
SPRX has been the more volatile fund at 39.2% annualized versus 15.3% for SPY. Worst drawdown: SPRX -51.2% vs SPY -56.5%.
Should I hold both SPRX and SPY?
SPRX and SPY have a monthly-return correlation of 0.68, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPRX and SPY?
SPRX and SPY share 12 common holdings with a 5.1% weight overlap. Combined, they hold 518 unique securities.
Which pays a higher dividend, SPRX or SPY?
SPRX yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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