PVEX vs WARP
Comparison between TRUESHARES CONVEQUITY ETF (PVEX, ETF) and VANECK SPACE ETF (WARP, ETF).
PVEX vs WARP - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
PVEX
$58M
Winner
WARP
$58M
Expense Ratio
PVEX
0.82%
Winner
WARP
0.50%
Max Drawdown
Winner
PVEX
7.80%
WARP
50.07%
Sharpe Ratio
Winner
PVEX
0.92
WARP
-1.25
5Y Beta
Winner
PVEX
1.08
WARP
3.15
P/E Ratio
PVEX
N/A
WARP
-35.38
Debt to Equity
PVEX
N/A
WARP
10.74%
P/S Ratio
PVEX
N/A
WARP
8.50
P/B Ratio
PVEX
N/A
WARP
5.90
PVEX vs WARP - Holdings Comparison
PVEX and WARP have 1 common holdings. Overlap is -0.33%
PVEX's top 25 holdings weight is 71.29%. WARP's top 25 holdings weight is 99.99%.
| Rank | PVEX | WARP |
|---|---|---|
| #1 | STATE STREET® SPDR® S/T CORP BD ETF (SPSB) - 29.90% | SPACE EXPLORATION TECHNOLOGIES CORP CLASS A (SPCX) - 20.78% |
| #2 | SHREYA ACQUISITION GROUP CLASS A (SAGU) - 8.45% | ROCKET LAB CORP (RKLB) - 12.30% |
| #3 | JANUS HENDERSON AAA CLO ETF (JAAA) - 6.38% | VIASAT INC (VSAT) - 6.38% |
| #4 | APEX TECH ACQUISITION INC ORDINARY SHARE (TRAD) - 3.44% | IRIDIUM COMMUNICATIONS INC (IRDM) - 5.95% |
| #5 | SPY 03/19/27 C700.01 EURO CASH FLEX (n/a) - 3.34% | AST SPACEMOBILE INC ORDINARY SHARES CLASS A (ASTS) - 5.93% |
| #6 | SPY 12/18/26 C720.03 EURO CASH FLEX (n/a) - 2.72% | GLOBALSTAR INC (GSAT) - 5.59% |
| #7 | STATE STREET INSTL US GOVT MMKT ADMIN (SALXX) - 2.35% | ECHOSTAR CORP CLASS A (ECHO) - 5.19% |
| #8 | SPY 09/18/26 C705.03 EURO CASH FLEX (n/a) - 2.30% | PLANET LABS PBC CLASS A (PL) - 5.02% |
| #9 | QUASAREDGE ACQUISITION CORP (QRED) - 1.68% | MDA SPACE LTD (n/a) - 4.90% |
| #10 | SPY 06/18/26 C653.85 EURO CASH FLEX (n/a) - 1.18% | SKY PERFECT JSAT CORP (n/a) - 3.90% |
| #11 | XFLH CAPITAL CORP (XFLH) - 1.18% | REDWIRE CORP (RDW) - 3.28% |
| #12 | ROMAN DBDR ACQUISITION CORP II CLASS-A (DRDB) - 0.96% | FIREFLY AEROSPACE INC (FLY) - 3.26% |
| #13 | n/a (FERA) - 0.87% | SES RECEIPT (n/a) - 3.25% |
| #14 | K2 CAPITAL ACQUISITION CORP CLASS A (KTWO) - 0.84% | INTUITIVE MACHINES INC ORDINARY SHARES CLASS A (LUNR) - 3.12% |
| #15 | n/a (ITHA) - 0.83% | VOYAGER TECHNOLOGIES INC CLASS A (VOYG) - 2.11% |
| #16 | RF ACQUISITION CORP III ORDINARY SHARES (RFAM) - 0.83% | AVIO SPA (n/a) - 1.98% |
| #17 | SPY 03/19/27 C735.00 EURO CASH FLEX (n/a) - 0.74% | NEXTNAV INC (NN) - 1.89% |
| #18 | LAKE SUPERIOR ACQUISITION CORP CLASS A (LKSP) - 0.66% | EUTELSAT COMMUNICATIONS (n/a) - 1.76% |
| #19 | SPY 12/18/26 C755.02 EURO CASH FLEX (n/a) - 0.59% | ASTROSCALE HOLDINGS INC (n/a) - 1.29% |
| #20 | SPY 09/18/26 C740.02 EURO CASH FLEX (n/a) - 0.52% | SYNSPECTIVE INC (n/a) - 1.00% |
| #21 | SPACSPHERE ACQUISITION CORP CLASS A (SSAC) - 0.44% | GILAT SATELLITE NETWORKS LTD (GILT) - 0.99% |
| #22 | GALAXYEDGE ACQUISITION CORP (GLED) - 0.38% | US DOLLAR (n/a) - 0.12% |
| #23 | SPY 06/18/26 C684.67 EURO CASH FLEX (n/a) - 0.25% | EURO CURRENCY (n/a) - 0.00% |
| #24 | n/a (NPAC) - 0.25% | N/A |
| #25 | n/a (PONO) - 0.21% | N/A |
| Total Holdings | 83 | 23 |
PVEX vs WARP - Historical Returns
Returns include dividend reinvestment.
1M
Winner
PVEX
-1.49%
WARP
-17.18%
3M
Winner
PVEX
+2.42%
WARP
-22.77%
6M
PVEX
+5.01%
WARP
N/A
1Y
PVEX
+13.16%
WARP
N/A
Max(CAGR)
Winner
PVEX
+18.64%
WARP
-70.65%
PVEX vs WARP - Annual Returns (2025 - 2026)
Returns include dividend reinvestment.
| Year | PVEX | WARP |
|---|---|---|
| 2026 | +5.52% | -22.77% |
| 2025 | +13.68% | N/A |
PVEX vs WARP Drawdown Comparison
The maximum drawdown for PVEX was -7.63%, occurring on Mar 30, 2026. Recovery took 117 trading sessions.
The maximum drawdown for WARP was -50.07%, occurring on Jul 20, 2026. This drawdown has not yet recovered.
The current PVEX drawdown is -4.62%. The current WARP drawdown is -49.13%.
| Rank | PVEX | WARP |
|---|---|---|
| #1 | -7.63% Oct 28, 2025 - Apr 17, 2026 | -50.07% May 28, 2026 - Jul 20, 2026 |
| #2 | -7.13% Jul 25, 2025 - Sep 10, 2025 | -3.25% May 14, 2026 - May 20, 2026 |
| #3 | -5.74% Jun 2, 2026 - Jun 26, 2026 | -1.35% May 11, 2026 - May 13, 2026 |
| #4 | -4.28% Oct 8, 2025 - Oct 27, 2025 | -0.57% May 20, 2026 - May 22, 2026 |
| #5 | -3.31% Jul 3, 2025 - Jul 23, 2025 | N/A |
| #6 | -2.37% May 14, 2026 - May 26, 2026 | N/A |
| #7 | -2.16% Sep 22, 2025 - Oct 1, 2025 | N/A |
| #8 | -0.82% May 1, 2026 - May 5, 2026 | N/A |
| #9 | -0.80% Sep 15, 2025 - Sep 18, 2025 | N/A |
| #10 | -0.75% Apr 17, 2026 - Apr 22, 2026 | N/A |
| #11 | -0.64% Oct 6, 2025 - Oct 8, 2025 | N/A |
| #12 | -0.62% Apr 27, 2026 - Apr 30, 2026 | N/A |
| #13 | -0.52% May 6, 2026 - May 8, 2026 | N/A |
| #14 | -0.41% May 8, 2026 - May 13, 2026 | N/A |
| #15 | -0.33% Apr 22, 2026 - Apr 24, 2026 | N/A |
Correlation
Correlation between PVEX and WARP is 0.98 which considered as a very strong positive correlation - the stocks move almost identically together.
0.98
-101
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