SPRX
Spear Alpha ETF
SPRX actively invests in global thematic companies it believes will benefit from breakthrough innovations in the industrial and technology space.
Global
EQUITY
Active
MANAGEMENT STYLE
153.5 M
ASSETS UNDER MGMT
75 bp
EXPENSES
Fund Basics
| Fund sponsor | Spear Advisors LLC |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Aug 02, 2021 |
| Assets (mns) | $153 |
| 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
| ASTERA LABS INC | 10.1 % |
| CREDO TECHNOLOGY GROUP HOLDING LTD. | 9.8 % |
| COHERENT INC | 9.7 % |
| NVIDIA CORP | 8.7 % |
| TERAWULF INC. | 6.0 % |
| CLOUDFLARE INC CLASS A | 5.7 % |
| APPLIED BLOCKCHAIN INC | 5.4 % |
| MARVELL TECHNOLOGY, INC. | 5.4 % |
| CONSTELLATION ENERGY CORPORATION | 5.2 % |
| CIENA CORP | 5.1 % |
Constituent Breakdown
| Number of holdings | 25 |
| Herfindahl-Hirschman Index | 630 |
| Wgt avg mkt cap (mns) | $438,884 |
| Large cap (>$10bn) | 75.7% |
| Mid cap ($2-10bn) | 13.9% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 94.2 % |
 |
CANADA | 3.7 % |
 |
AUSTRALIA | 1.8 % |
Historical Performance
Standardized Performance (as of 11/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 45.4% | 49.5% | 42.7% | 42.6% | -- | -- | -- | 17.0% |
| Dividend Yield | 0.0% | 0.0% | 0.0% | 0.0% | -- | -- | -- | 0.1% |
| Total Returns | 45.4% | 49.5% | 42.7% | 42.6% | -- | -- | -- | 17.1% | Ann. Volatility | 49.2% | 48.6% | 40.0% | 38.4% | -- | -- | -- | 40.7% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.95 | 62% |
| MSCI EAFE | 1.56 | 29% |
| MSCI Emg Mkts | 1.71 | 39% |
Liquidity Measures
| Avg. volume (000) | 153 |
| ADV traded (mns) | $6 |
| Turnover | 4.0% |
| Avg. Bid/Ask (% of price) | 0.09% |
Technical Indicators
| 30d moving avg. (EMA) | $38.84 |
| Relative strength (RSI) | 52 |
| MACD/Signal | -0.80/-0.83 |
| Bollinger Bands (Upper/Lower) | $44.38/$33.76 |
| Short interest (% of AUM) | 0.9% |
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 |
|---|---|---|---|---|
| TRFK | Pacer Data and Digital Revolution ETF | 27.9% | -15 bp | +3.0% |
| LRNZ | TrueShares Technology, AI & Deep Learning ETF | 26.5% | -6 bp | -0.8% |
| TMAT | Main Thematic Innovation ETF | 26.3% | +89 bp | -1.5% |
| WTAI | WisdomTree Artificial Intelligence and Innovation Fund | 22.7% | -30 bp | +2.5% |
| ARTY | iShares Future AI & Tech ETF | 22.1% | -28 bp | +3.5% |
| PTF | Invesco Dorsey Wright Technology Momentum ETF | 21.8% | -15 bp | -1.1% |
| SMHX | VanEck Fabless Semiconductor ETF | 21.0% | -40 bp | +3.1% |
| FDTX | Fidelity Disruptive Technology ETF | 20.3% | -25 bp | +2.6% |
| NBDS | Neuberger Berman Disrupters ETF | 20.2% | -20 bp | +0.8% |
| CHPX | Global X AI Semiconductor & Quantum ETF | 20.1% | -25 bp | +3.3% |
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
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| 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 12/6/2025
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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
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 Rating
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
ALTAR Score™
SPRX
-0.3%
Cat. Avg
4.2%
ALTAR Score™ Calculation
Category Overview
There are 382 funds in the Global Equity category, with an average ALTAR Score™
of 4.2% and a standard deviation of
3.1%. SPRX's ALTAR Score™ is approximately
1.4 standard deviations
below
the category average. This places SPRX in the 8th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
SPRXSELL
U/W
HOLD
O/W
BUY