LDDR vs SPAX

Comparison between Stone Ridge 2035 Term Income ETF (LDDR, ETF) and T-REX 2X Long SpaceX Daily Target ETF (SPAX, ETF).

LDDR vs SPAX - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	LDDR(ETF)	SPAX(ETF)
Net Assets	$42M	$42M
Expense Ratio	0.25%	N/A
Max Drawdown	14.98%	67.97%
Sharpe Ratio	-0.35	-5.82
5Y Beta	0.01	4.96

Net Assets

LDDR

$42M

Winner

SPAX

$42M

Expense Ratio

LDDR

0.25%

SPAX

N/A

Max Drawdown

Winner

LDDR

14.98%

SPAX

67.97%

Sharpe Ratio

Winner

LDDR

-0.35

SPAX

-5.82

5Y Beta

Winner

LDDR

0.01

SPAX

4.96

LDDR vs SPAX - Holdings Comparison

LDDR and SPAX have 1 common holdings. Overlap is 0.41%

LDDR's top 25 holdings weight is 99.99%. SPAX's top 25 holdings weight is 100.74%.

Rank	LDDR	SPAX
#1	UNITED STATES TREASURY NOTES 3.88% (n/a) - 30.38%	FIRST AMERICAN GOVERNMENT OBLIGS X (FGXXX) - 99.46%
#2	UNITED STATES TREASURY NOTES 3.13% (n/a) - 14.24%	RMG ACQUISITION CORP III ORDINARY SHARES CLASS A (RMGCF) - 1.25%
#3	UNITED STATES TREASURY NOTES 2.75% (n/a) - 10.31%	SPREE ACQUISITION CORP 1 LTD CLASS A (SACQF) - 0.03%
#4	UNITED STATES TREASURY NOTES 3.63% (n/a) - 9.08%	N/A
#5	UNITED STATES TREASURY NOTES 4.5% (n/a) - 8.37%	N/A
#6	UNITED STATES TREASURY NOTES 3.75% (n/a) - 8.02%	N/A
#7	UNITED STATES TREASURY NOTES 4% (n/a) - 6.19%	N/A
#8	UNITED STATES TREASURY NOTES 4.25% (n/a) - 5.67%	N/A
#9	UNITED STATES TREASURY NOTES 3.5% (n/a) - 2.58%	N/A
#10	UNITED STATES TREASURY NOTES 4.13% (n/a) - 2.47%	N/A
#11	OTHER ASSETS AND LIABILITIES (n/a) - 1.17%	N/A
#12	MORGAN STANLEY INSTL LQUDTY GOVT INSTL (MVRXX) - 0.41%	N/A
#13	FIRST AMERICAN GOVERNMENT OBLIGS X (FGXXX) - 0.41%	N/A
#14	UNITED STATES TREASURY NOTES 1.25% (n/a) - 0.32%	N/A
#15	UNITED STATES TREASURY NOTES 3.38% (n/a) - 0.16%	N/A
#16	UNITED STATES TREASURY BONDS 4.5% (n/a) - 0.09%	N/A
#17	UNITED STATES TREASURY BONDS 4.63% (n/a) - 0.07%	N/A
#18	UNITED STATES TREASURY BONDS 2.38% (n/a) - 0.03%	N/A
#19	UNITED STATES TREASURY BONDS 4.13% (n/a) - 0.01%	N/A
#20	UNITED STATES TREASURY BONDS 4.75% (n/a) - 0.01%	N/A
#21	UNITED STATES TREASURY NOTES 4.63% (n/a) - 0.00%	N/A
#22	N/A	N/A
#23	N/A	N/A
#24	N/A	N/A
#25	N/A	N/A
Total Holdings	21	3

LDDR vs SPAX - Historical Returns

Returns include dividend reinvestment.

Period	LDDR	SPAX
1 month	-0.05%	-39.22%
3 months	-0.65%	N/A
6 months	-0.14%	N/A
1 year	+2.43%	N/A
Max(CAGR)	+4.11%	-100.00%

Winner

LDDR

-0.05%

SPAX

-39.22%

LDDR

-0.65%

SPAX

N/A

LDDR

-0.14%

SPAX

N/A

LDDR

+2.43%

SPAX

N/A

Max(CAGR)

Winner

LDDR

+4.11%

SPAX

-100.00%

LDDR vs SPAX - Annual Returns (2025 - 2026)

Returns include dividend reinvestment.

Year	LDDR	SPAX
2026	-0.32%	-62.72%
2025	+6.75%	N/A

LDDR vs SPAX Drawdown Comparison

The maximum drawdown for LDDR was -2.49%, occurring on May 19, 2026. This drawdown has not yet recovered.

The maximum drawdown for SPAX was -67.97%, occurring on Jul 20, 2026. This drawdown has not yet recovered.

The current LDDR drawdown is -1.87%. The current SPAX drawdown is -65.97%.

Rank	LDDR	SPAX
#1	-2.49% Feb 27, 2026 - May 19, 2026	-67.97% Jun 16, 2026 - Jul 20, 2026
#2	-2.38% Apr 4, 2025 - Jun 30, 2025	N/A
#3	-1.21% Feb 28, 2025 - Apr 3, 2025	N/A
#4	-1.07% Jun 30, 2025 - Aug 1, 2025	N/A
#5	-1.01% Feb 5, 2025 - Feb 21, 2025	N/A
#6	-0.81% Oct 21, 2025 - Nov 24, 2025	N/A
#7	-0.80% Nov 26, 2025 - Feb 10, 2026	N/A
#8	-0.73% Jan 6, 2025 - Jan 15, 2025	N/A
#9	-0.70% Sep 16, 2025 - Oct 10, 2025	N/A
#10	-0.43% Aug 13, 2025 - Aug 22, 2025	N/A
#11	-0.30% Jan 21, 2025 - Jan 27, 2025	N/A
#12	-0.27% Aug 29, 2025 - Sep 4, 2025	N/A
#13	-0.26% Aug 4, 2025 - Aug 13, 2025	N/A
#14	-0.19% Feb 10, 2026 - Feb 12, 2026	N/A
#15	-0.17% Feb 13, 2026 - Feb 23, 2026	N/A