SPRX
Spear Alpha ETF
SPRX actively invests in global thematic companies it believes will benefit from breakthrough innovations in the industrial and technology space.
Fund Basics
| Fund sponsor | Spear Advisors LLC |
| Category | Global Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Aug 02, 2021 |
| Assets (mns) | $10 |
| Expense ratio | 75 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| ZSCALER, INC. | 10.3 % |
| SPRINT CORP. | 10.0 % |
| NVIDIA CORP | 9.1 % |
| SNOWFLAKE, INC. CLASS A | 9.1 % |
| CLOUDFLARE INC CLASS A | 7.8 % |
| ADVANCED MICRO DEVICES | 7.6 % |
| MARVELL TECHNOLOGY, INC. | 6.1 % |
| DATADOG INC CLASS A | 5.3 % |
| CROWDSTRIKE HOLDINGS, INC. CLASS A | 4.7 % |
| SHOPIFY, INC. CLASS A | 4.3 % |
Constituent Breakdown
| Number of holdings | 23 |
| Herfindahl-Hirschman Index | 668 |
| Wgt avg mkt cap (mns) | $69,335 |
| Large cap (>$10bn) | 83.5% |
| Mid cap ($2-10bn) | 11.4% |
| Small cap (<$2bn) | 5.2% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 88.6 % |
 |
CANADA | 4.3 % |
 |
CHINA | 0.7 % |
Historical Performance
Standardized Annual Returns (as of 08/31/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 54.7% | 22.8% | -6.3% | -- | -- | -- | -6.3% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.18 | 39% |
| MSCI EAFE | 0.81 | 18% |
| MSCI Emg Mkts | 0.85 | 21% |
Liquidity Measures
| Avg. volume (000) | 27 |
| Turnover | 4.7% |
| Avg. Bid/Ask (% of price) | 0.09% |
| ADV of underlying (mns) | $19,655 |
Technical Indicators
| Recent close | $16.88 |
| 30d moving avg. | $17.87 |
| Annualized volatility | 37.1% |
| Relative strength (RSI) | 45 |
| Short interest (ETF) | 1.4% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. SPRX |
Expenses vs. SPRX |
ALTAR Score™ vs. SPRX |
|---|---|---|---|---|
| LRNZ | TrueMark Technology, AI & Deep Learning ETF | 41.4% | -6 bp | -2.6% |
| WUGI | AXS Esoterica NextG Economy ETF | 34.4% | 0 bp | +1.4% |
| TRFK | Pacer Data and Digital Revolution ETF | 23.4% | -15 bp | +3.3% |
| AOTG | AOT Growth and Innovation ETF | 20.7% | 0 bp | +2.0% |
| WCBR | WisdomTree Cybersecurity Fund | 19.9% | -30 bp | -0.2% |
| SHOC | Strive U.S. Semiconductor ETF | 19.7% | -35 bp | +5.0% |
| IGPT | Invesco AI and Next Gen Software ETF | 19.6% | -25 bp | +3.6% |
| MVPS | Amplify Thematic All-Stars ETF | 19.5% | -26 bp | +0.7% |
| SOXX | iShares PHLX Semiconductor ETF | 19.5% | -40 bp | +5.2% |
| SOXQ | Invesco PHLX Semiconductor ETF | 19.5% | -56 bp | +5.2% |
Risk and Returns: SPRX vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2017 | 2018 | 2019 | 2020 | 2021 | 2022E | 2023E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2021 | 2022E | Fwd Est | 2023E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 9/22/2023
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
SPRX
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
SPRX
1.4%
Cat. Avg
4.2%
Fund Category: Global Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 1.4% |
Recommendation
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
Category Overview
There are 345 funds in the Global Equities category, with an average ALTAR Score™
of 4.2% and a standard deviation of
5.1%. SPRX's ALTAR Score™ is approximately
0.5 standard deviations
below
the category average. This places SPRX in the 29th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
SPRX
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
Today's Trading
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Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| SPRX | 75.0 | 8.9 | 83.9 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .