SPRX vs NCIQ

Comparison between SPEAR ALPHA ETF (SPRX, ETF) and Hashdex Nasdaq Crypto Index US ETF (NCIQ, ETF).

SPRX vs NCIQ - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	SPRX(ETF)	NCIQ(ETF)
Net Assets	$207M	$207M
Expense Ratio	0.75%	0.25%
Max Drawdown	51.34%	57.05%
Sharpe Ratio	0.69	-0.79
5Y Beta	2.22	1.20
P/E Ratio	-321.53	N/A
Forward P/E	38.87	N/A
PEG Ratio	-0.11	N/A
Debt to Equity	39.46%	N/A
P/S Ratio	13.99	N/A
P/B Ratio	11.44	N/A

Net Assets

SPRX

$207M

NCIQ

$207M

Expense Ratio

SPRX

0.75%

Winner

NCIQ

0.25%

Max Drawdown

Winner

SPRX

51.34%

NCIQ

57.05%

Sharpe Ratio

Winner

SPRX

0.69

NCIQ

-0.79

5Y Beta

SPRX

2.22

Winner

NCIQ

1.20

P/E Ratio

SPRX

-321.53

NCIQ

N/A

Forward P/E

SPRX

38.87

NCIQ

N/A

PEG Ratio

SPRX

-0.11

NCIQ

N/A

Debt to Equity

SPRX

39.46%

NCIQ

N/A

P/S Ratio

SPRX

13.99

NCIQ

N/A

P/B Ratio

SPRX

11.44

NCIQ

N/A

SPRX vs NCIQ - Historical Returns

Returns include dividend reinvestment.

Period	SPRX	NCIQ
1 month	+10.07%	+22.90%
3 months	-20.87%	+7.60%
6 months	+13.82%	+17.56%
1 year	+26.02%	-36.45%
5 years(CAGR)	+15.96%	N/A
Max(CAGR)	+17.06%	-15.40%

SPRX

+10.07%

Winner

NCIQ

+22.90%

SPRX

-20.87%

Winner

NCIQ

+7.60%

SPRX

+13.82%

Winner

NCIQ

+17.56%

Winner

SPRX

+26.02%

NCIQ

-36.45%

5Y(CAGR)

SPRX

+15.96%

NCIQ

N/A

Max(CAGR)

Winner

SPRX

+17.06%

NCIQ

-15.40%

SPRX vs NCIQ - Annual Returns (2021 - 2026)

Returns include dividend reinvestment.

Year	SPRX	NCIQ
2026	+9.92%	-16.64%
2025	+36.86%	-10.21%
2024	+26.07%	N/A
2023	+90.61%	N/A
2022	-44.77%	N/A
2021	+8.91%	N/A

SPRX vs NCIQ Drawdown Comparison

The maximum drawdown for SPRX was -51.22%, occurring on Nov 9, 2022. Recovery took 557 trading sessions.

The maximum drawdown for NCIQ was -57.05%, occurring on Jun 25, 2026. This drawdown has not yet recovered.

The current SPRX drawdown is -24.54%. The current NCIQ drawdown is -42.36%.

Rank	SPRX	NCIQ
#1	-51.22% Nov 8, 2021 - Jan 29, 2024	-57.05% Oct 6, 2025 - Jun 25, 2026
#2	-42.12% Jan 23, 2025 - Jul 9, 2025	-25.48% Feb 20, 2025 - May 9, 2025
#3	-35.87% Jun 2, 2026 - Jul 29, 2026	-12.51% Aug 13, 2025 - Oct 6, 2025
#4	-24.21% Oct 31, 2025 - Apr 17, 2026	-7.86% May 22, 2025 - Jul 9, 2025
#5	-23.70% Feb 14, 2024 - Nov 21, 2024	-4.90% Jul 24, 2025 - Aug 11, 2025
#6	-11.96% Jan 6, 2025 - Jan 22, 2025	-3.12% Feb 14, 2025 - Feb 20, 2025
#7	-10.10% Oct 9, 2025 - Oct 31, 2025	-2.44% Jul 14, 2025 - Jul 16, 2025
#8	-8.56% Sep 3, 2021 - Oct 28, 2021	-2.05% May 13, 2025 - May 20, 2025
#9	-7.98% Aug 12, 2025 - Sep 9, 2025	-0.94% Jul 22, 2025 - Jul 24, 2025
#10	-7.12% May 14, 2026 - May 21, 2026	-0.64% Jul 17, 2025 - Jul 22, 2025
#11	-6.81% Apr 22, 2026 - May 6, 2026	-0.40% May 9, 2025 - May 13, 2025
#12	-6.57% Dec 16, 2024 - Dec 26, 2024	N/A
#13	-5.55% Dec 4, 2024 - Dec 16, 2024	N/A
#14	-5.54% Dec 26, 2024 - Jan 3, 2025	N/A
#15	-4.63% Aug 12, 2021 - Aug 24, 2021	N/A

Correlation

Correlation between SPRX and NCIQ is -0.39 which considered as a weak negative correlation - the stocks show a slight tendency to move in opposite directions.

-0.39

-101