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SPRX

GradeDNASDAQ Global Market

Spear Alpha ETF

Themes · Spear · Inception 2021-08-02 · SEC filings

$48.90−0.70 (−1.42%)

As of Sep 23, 2026, 3:10 PM EDT

Intraday session: down, 69 prints from 49.60 to 48.90. Range 48.53 to 49.59. Use the arrow keys to read each point.$48.50$48.75$49.25$49.5010 AM12 PM2 PM4 PM
Expense ratio
0.75%
Fund size
$233M
1Y return
+23.4%
Yield · Last 12 months
0.00%
Holdings
23
Volume · 30D
0.1M sh
NAV per share
$48.77
52W range
low $32.75high $59.10

The ETF.net SPRX Grade

D

39/ 100

Rank 23 of 31 in Disruptive Innovation⁠

Confidence Medium

Six-pillar profile for SPRX. Scores out of 100: Cost 27, Risk 23, Mission not scored, Tradability 84, Holdings 30, Durability 53. Strongest: Tradability (84). Weakest: Risk (23). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 39 of 100 sits in the D band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    DScore 27
    Category rank25/31 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    FScore 23
    Category rank27/31 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 84
    Category rank2/31 · top 6%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 30
    Category rank29/31 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 53
    Category rank16/31 · mid-pack

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on SPRX

ETF.net Research

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

  1. 01Actively 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
  2. 02The 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
  3. 03Trades 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

  1. 010.75% 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.
  2. 02Non-diversified by design, so single names swing the fund, and the prospectus notes an active approach that turns the portfolio over heavily.spear-invest.comlearn.spear-invest.com
  3. 03The stated goal is long-term capital growth, not income. One manager's judgment drives results, for better and worse.sec.gov

SPRX Holdings

As of Sep 20, 2026, 10:14 AM
Asset class
Stocks
Holdings
23
Top-10 weight
66%
Largest holding
ALAB10.6%

Sectors

  • Technology88.2%
  • Industrials9.4%
  • Financials2.3%
  • Communication0.1%

Geography

  • United States85.58%
  • United Kingdom7.96%
  • Finland4.02%
  • Cayman Islands2.44%
The fund’s holdings, weight-ordered — page 1 of 3.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001ALABAstera Labs Inc10.60%76,976$23M258
002COHRCoherent Corp8.64%59,950$19M341
003ARMARM Holdings PLC8.03%64,165$18M106
004NETCloudflare Inc7.81%53,133$17M273
005LITELumentum Holdings Inc7.03%16,639$15M385
006LRCXLam Research Corp6.60%50,456$15M591
007SPCXSpace Exploration Technologies Corp4.78%68,920$11M268
008MKSIMKS Inc4.30%37,561$9M196
009KLACKLA CORP4.23%52,621$9M506
010CIENCiena Corp3.93%24,846$9M384
011NOKBFNokia Oyj3.93%809,463$9M11
012TERTeradyne Inc3.57%21,186$8M421
013MRVLMARVELL TECHNOLOGY INC3.27%29,517$7M458
014APLDApplied Digital Corp2.91%227,696$6M104
015SNDKSandisk Corp2.80%3,446$6M450

Showing 1–15 of 31 holdings

SPRX Performance

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

SPRX$12,339
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. SPRX $12,339. SPY $11,723. Use the arrow keys to read each point.$7,738$11,403$15,068Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 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+28.8%
1 month+8.8%
3 months−15.3%
1 year+23.4%
3 years+43.2%per year
5 years+19.2%per year
10 yearsFund is under 10 years old—per year

As of the close, 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+28.8%
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 Sep 22, 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

SPRX Risk

How much the fund’s monthly returns vary, scaled to a year.
40.6%
Annualised · 36 months to Aug 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.
0.81
vs 3-month T-bills · to Aug 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.

SPRX Cost

Expense ratio0.75%
  • The middle half of Disruptive Innovation funds
  • Median 0.65%

19 of the 31 Disruptive Innovation funds charge less.

SPRX costs $75.00 a year on $10,000. The median Disruptive Innovation fund costs $65.00.