WARP vs PVEX

Comparison between VANECK SPACE ETF (WARP, ETF) and TRUESHARES CONVEQUITY ETF (PVEX, ETF).

WARP vs PVEX - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	WARP(ETF)	PVEX(ETF)
Net Assets	$58M	$58M
Expense Ratio	0.50%	0.82%
Max Drawdown	50.07%	7.80%
Sharpe Ratio	-1.25	0.92
5Y Beta	3.15	1.08
P/E Ratio	-35.38	N/A
Debt to Equity	10.74%	N/A
P/S Ratio	8.50	N/A
P/B Ratio	5.90	N/A

Net Assets

Winner

WARP

$58M

PVEX

$58M

Expense Ratio

Winner

WARP

0.50%

PVEX

0.82%

Max Drawdown

WARP

50.07%

Winner

PVEX

7.80%

Sharpe Ratio

WARP

-1.25

Winner

PVEX

0.92

5Y Beta

WARP

3.15

Winner

PVEX

1.08

P/E Ratio

WARP

-35.38

PVEX

N/A

Debt to Equity

WARP

10.74%

PVEX

N/A

P/S Ratio

WARP

8.50

PVEX

N/A

P/B Ratio

WARP

5.90

PVEX

N/A

WARP vs PVEX - Holdings Comparison

WARP and PVEX have 1 common holdings. Overlap is -0.33%

WARP's top 25 holdings weight is 99.99%. PVEX's top 25 holdings weight is 71.29%.

Rank	WARP	PVEX
#1	SPACE EXPLORATION TECHNOLOGIES CORP CLASS A (SPCX) - 20.78%	STATE STREET® SPDR® S/T CORP BD ETF (SPSB) - 29.90%
#2	ROCKET LAB CORP (RKLB) - 12.30%	SHREYA ACQUISITION GROUP CLASS A (SAGU) - 8.45%
#3	VIASAT INC (VSAT) - 6.38%	JANUS HENDERSON AAA CLO ETF (JAAA) - 6.38%
#4	IRIDIUM COMMUNICATIONS INC (IRDM) - 5.95%	APEX TECH ACQUISITION INC ORDINARY SHARE (TRAD) - 3.44%
#5	AST SPACEMOBILE INC ORDINARY SHARES CLASS A (ASTS) - 5.93%	SPY 03/19/27 C700.01 EURO CASH FLEX (n/a) - 3.34%
#6	GLOBALSTAR INC (GSAT) - 5.59%	SPY 12/18/26 C720.03 EURO CASH FLEX (n/a) - 2.72%
#7	ECHOSTAR CORP CLASS A (ECHO) - 5.19%	STATE STREET INSTL US GOVT MMKT ADMIN (SALXX) - 2.35%
#8	PLANET LABS PBC CLASS A (PL) - 5.02%	SPY 09/18/26 C705.03 EURO CASH FLEX (n/a) - 2.30%
#9	MDA SPACE LTD (n/a) - 4.90%	QUASAREDGE ACQUISITION CORP (QRED) - 1.68%
#10	SKY PERFECT JSAT CORP (n/a) - 3.90%	SPY 06/18/26 C653.85 EURO CASH FLEX (n/a) - 1.18%
#11	REDWIRE CORP (RDW) - 3.28%	XFLH CAPITAL CORP (XFLH) - 1.18%
#12	FIREFLY AEROSPACE INC (FLY) - 3.26%	ROMAN DBDR ACQUISITION CORP II CLASS-A (DRDB) - 0.96%
#13	SES RECEIPT (n/a) - 3.25%	n/a (FERA) - 0.87%
#14	INTUITIVE MACHINES INC ORDINARY SHARES CLASS A (LUNR) - 3.12%	K2 CAPITAL ACQUISITION CORP CLASS A (KTWO) - 0.84%
#15	VOYAGER TECHNOLOGIES INC CLASS A (VOYG) - 2.11%	n/a (ITHA) - 0.83%
#16	AVIO SPA (n/a) - 1.98%	RF ACQUISITION CORP III ORDINARY SHARES (RFAM) - 0.83%
#17	NEXTNAV INC (NN) - 1.89%	SPY 03/19/27 C735.00 EURO CASH FLEX (n/a) - 0.74%
#18	EUTELSAT COMMUNICATIONS (n/a) - 1.76%	LAKE SUPERIOR ACQUISITION CORP CLASS A (LKSP) - 0.66%
#19	ASTROSCALE HOLDINGS INC (n/a) - 1.29%	SPY 12/18/26 C755.02 EURO CASH FLEX (n/a) - 0.59%
#20	SYNSPECTIVE INC (n/a) - 1.00%	SPY 09/18/26 C740.02 EURO CASH FLEX (n/a) - 0.52%
#21	GILAT SATELLITE NETWORKS LTD (GILT) - 0.99%	SPACSPHERE ACQUISITION CORP CLASS A (SSAC) - 0.44%
#22	US DOLLAR (n/a) - 0.12%	GALAXYEDGE ACQUISITION CORP (GLED) - 0.38%
#23	EURO CURRENCY (n/a) - 0.00%	SPY 06/18/26 C684.67 EURO CASH FLEX (n/a) - 0.25%
#24	N/A	n/a (NPAC) - 0.25%
#25	N/A	n/a (PONO) - 0.21%
Total Holdings	23	83

WARP vs PVEX - Historical Returns

Returns include dividend reinvestment.

Period	WARP	PVEX
1 month	-17.18%	-1.49%
3 months	-22.77%	+2.42%
6 months	N/A	+5.01%
1 year	N/A	+13.16%
Max(CAGR)	-70.65%	+18.64%

WARP

-17.18%

Winner

PVEX

-1.49%

WARP

-22.77%

Winner

PVEX

+2.42%

WARP

N/A

PVEX

+5.01%

WARP

N/A

PVEX

+13.16%

Max(CAGR)

WARP

-70.65%

Winner

PVEX

+18.64%

WARP vs PVEX - Annual Returns (2025 - 2026)

Returns include dividend reinvestment.

Year	WARP	PVEX
2026	-22.77%	+5.52%
2025	N/A	+13.68%

WARP vs PVEX Drawdown Comparison

The maximum drawdown for WARP was -50.07%, occurring on Jul 20, 2026. This drawdown has not yet recovered.

The maximum drawdown for PVEX was -7.63%, occurring on Mar 30, 2026. Recovery took 117 trading sessions.

The current WARP drawdown is -49.13%. The current PVEX drawdown is -4.62%.

Rank	WARP	PVEX
#1	-50.07% May 28, 2026 - Jul 20, 2026	-7.63% Oct 28, 2025 - Apr 17, 2026
#2	-3.25% May 14, 2026 - May 20, 2026	-7.13% Jul 25, 2025 - Sep 10, 2025
#3	-1.35% May 11, 2026 - May 13, 2026	-5.74% Jun 2, 2026 - Jun 26, 2026
#4	-0.57% May 20, 2026 - May 22, 2026	-4.28% Oct 8, 2025 - Oct 27, 2025
#5	N/A	-3.31% Jul 3, 2025 - Jul 23, 2025
#6	N/A	-2.37% May 14, 2026 - May 26, 2026
#7	N/A	-2.16% Sep 22, 2025 - Oct 1, 2025
#8	N/A	-0.82% May 1, 2026 - May 5, 2026
#9	N/A	-0.80% Sep 15, 2025 - Sep 18, 2025
#10	N/A	-0.75% Apr 17, 2026 - Apr 22, 2026
#11	N/A	-0.64% Oct 6, 2025 - Oct 8, 2025
#12	N/A	-0.62% Apr 27, 2026 - Apr 30, 2026
#13	N/A	-0.52% May 6, 2026 - May 8, 2026
#14	N/A	-0.41% May 8, 2026 - May 13, 2026
#15	N/A	-0.33% Apr 22, 2026 - Apr 24, 2026