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

75 bp

EXPENSES

$68.9 M

ASSETS UNDER MGMT

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorSpear Advisors LLC
CategoryGlobal
Asset classEquity
Websitelink...
Inception dateAug 02, 2021
Assets (mns)$69
Expense ratio75 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsAnnually
Taxation1099
Stock selectionProprietary
WeightingProprietary
Holdings TransparencyFull
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings
NVIDIA CORP 13.1 %
ZSCALER, INC. 9.4 %
ADVANCED MICRO DEVICES 8.7 %
CLOUDFLARE INC CLASS A 7.4 %
SNOWFLAKE, INC. CLASS A 6.7 %
SHOPIFY, INC. CLASS A 6.0 %
CROWDSTRIKE HOLDINGS, INC. CLASS A 5.1 %
CONSTELLATION ENERGY CORPORATION 5.1 %
MARVELL TECHNOLOGY, INC. 5.0 %
DATADOG INC CLASS A 4.6 %
Constituent Breakdown
Number of holdings21
Herfindahl-Hirschman Index 677
Wgt avg mkt cap (mns)$367,967
Large cap (>$10bn)97.2%
Mid cap ($2-10bn)2.1%
Small cap (<$2bn)0.7%
Developed mkts.100.0%
Emerging mkts.0.0%
Country Exposure
UNITED STATES 87.8 %
CANADA 6.8 %
BRITAIN 0.8 %
Historical Performance


Standardized Performance (as of 05/31/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 3.5% 32.1% 23.2% -- -- -- 2.4%
Volatility 28.5% 30.1% 38.3% -- -- -- --
Market Correlations
versus...BetaR-squared
S&P 5001.3848%
MSCI EAFE1.0930%
MSCI Emg Mkts1.1030%
Liquidity Measures
Avg. volume (000)56
Turnover1.9%
Avg. Bid/Ask (% of price)0.09%
ADV of underlying (mns)$96,063
Technical Indicators
Recent close$22.96
30d moving avg.$23.00
Annualized volatility36.9%
Relative strength (RSI)53
Short interest (ETF)0.3%
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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Risk and Returns: SPRX vs. Comps (1 YR)

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Results & Estimates
  2019 2020 2021 2022 2023 2024E 2025E  
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
  2023 2024E Fwd Est 2025E
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 --%
3.4 34.3 8.1 0.8% --
Based on closing prices from 6/21/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
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

2.9%

Cat. Avg

3.8%

Fund Category: Global

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™2.9%
Recommendation

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

Category Overview
There are 344 funds in the Global category, with an average ALTAR Score™ of 3.8% and a standard deviation of 4.8%. SPRX's ALTAR Score™ is approximately 0.2 standard deviations below the category average. This places SPRX in the 42nd percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
SPRX
Peer Average
SELL
U/W
HOLD
O/W
BUY



Recent Trends


Breakdown

 

Market Activity
Latest price
Change
Volume
Bid/Ask Spread
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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 9.4 84.4
Peer Avg. -- -- --
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .