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Launched · SEC filings

Spear Alpha ETF

SPRXNasdaqD

$34.07−2.68 (−7.29%)

At close: Nov 2, 2026, 4:00 PM ET

D34/ 100

Rank 26 of 30 in Disruptive Innovation

D34/100Rank 26 of 30inDisruptive Innovation
Intraday session: down, 79 prints from 36.75 to 34.07. Range 33.95 to 36.60. Use the arrow keys to read each point.34.5035.0035.5036.0010 AM12 PM2 PM4 PM
Expense ratio
0.75%
Fund size
$177M
1Y total return
−16.0%
Yield · Last 12 months
0.00%
Holdings
27
Avg volume · 30D
82.8K sh
52W range
low $32.75high $59.10
Launched
Filings
SEC EDGAR

The ETF.net SPRX Grade

Based on 5 of 6 pillars

D

Score 34 out of 100

Category
Disruptive Innovation⁠
Rank
26 of 30
Six-pillar profile for SPRX. Scores out of 100: Cost 22, Risk 14, Mission not scored, Tradability 78, Holdings 25, Durability 52. Strongest: Tradability (78). Weakest: Risk (14). Based on 5 of 6 pillars.

Score 34 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F22 out of 100
    Rank 20 of 30

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    F14 out of 100
    Rank 30 of 30

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A78 out of 100
    Rank 3 of 30

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D25 out of 100
    Rank 30 of 30

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C52 out of 100
    Rank 16 of 30

Our read on SPRX

ETF.net Research

In short

DMost innovation ETFs buy the theme off an index. Spear Alpha is one analyst's research book: founder Ivana Delevska hand-picks a concentrated set of industrial-technology companies, from factory-floor digitalization to space, and trades them actively.

Stated mandate

The fund seeks long-term capital growth by actively investing mainly in equity securities of companies that the adviser believes may benefit from major advances in industrial technology.

Why people hold it

  • Actively run, not an index in disguise: the adviser picks companies across industrial-tech supply chains using primary research and direct contact with management.prnewswire.comspear-invest.com
  • The unglamorous end of innovation: robotics, manufacturing digitalization, photonics and space, mostly via companies the prospectus pegs in the $10B to $100B range.spear-invest.comprnewswire.com
  • Trades smoothly for a boutique product, one of the stronger showings on execution in its innovation peer group, and the founding manager has run it since the 2021 launch.prnewswire.com

Worth knowing

  • 0.75% a year is above the typical fee in its cohort, and index rivals on the same theme (KOMP, XT) cost far less. That gap is what the stock-picking has to cover.
  • Non-diversified by design, so single names swing the fund, and the prospectus notes an active approach that turns the portfolio over heavily.spear-invest.comspear-invest.com 2
  • The stated goal is long-term capital growth, not income. One manager's judgment drives results, for better and worse.sec.gov

SPRX Performance

Launched Aug 2, 2021

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.
SPRX$8,404
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. SPRX $8,404. SPY $11,199. Use the arrow keys to read each point.$8,000$10,000$12,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for SPRX. Periods over one year show the average yearly return.
PeriodSPRX
Year to date−4.5%
1 month−23.8%
3 months−13.7%
1 year−16.0%
3 yearsper year+31.7%
5 yearsper year+10.9%
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for SPRX
YearReturn barSPRX
2026 YTD−4.5%
2025+41.9%
2024+20.6%
2023+88.0%
2022−45.0%
2021+8.9%

History from Aug 4, 2021

SPRX in the news

SPRX Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
0.00%Last 12 months
Payout per share
NoneLast 12 months

No distributions in the last 12 months.

Distribution history

Payments through 2021

One bar per payment. 1 payment in 2021. Dec 22, 2021 $0.05. Use the arrow keys to read each point.2021
Ex-datePay dateAmount per share
Dec 22, 2021Dec 27, 2021$0.05

$10,000 in SPRX 5 years ago paid $23.12 in dividends.

SPRX Risk

Risk pillarF14 out of 100Rank 30 of 30 in Disruptive Innovation
How much the fund’s monthly returns vary, scaled to a year.
42.9%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.76
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−51.2%
Trough Nov 2022
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
2.22
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

SPRX Cost

Compare SPRX and KOMP

Overpaying vs KOMP, cheapest in Disruptive Innovation

$10,327

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • SPRX 0.75%

    $14,482

  • KOMP 0.20% Cheapest

    $4,155

$10,000
30 years

Cost over time

  • SPRX 0.75%
  • KOMP 0.20%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530SPRX $14,482KOMP $4,155

Year by year

YearSPRXKOMPOverpaying
10$1,336$365$971
20$5,078$1,421$3,657
30$14,482$4,155$10,327

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