Listed Funds Trust Spear Alpha ETF (SPRX US)
SPRX US$41.20
20 minute delayed
14 days free access
Join Market Matters and get full access to all our Opinion + Action
Performance
Advanced charting functionality with the ability to amend timeframes, chart type & indicator selection, powered by TradingView.
Share price activity
Displays share price activity. Volume = number of shares traded, Turnover = value of shares traded, VWAP = volume-weighted average price for the day, sourced from Morningstar.
- Last (Price)
- 41.20
- Change
- ▲ 0.98 (2.44)
- Bid / Ask
- 36.57 - 53.92
- Volume
- 12,621
- Turnover
- 391,128
- Open
- 40.59
- Day Range
- 40.42 - 41.24
- VWAP
- 40.76
- Prev Close
- 40.22
- Last Trade
- 28/10 4:00pm
Fund profile
Displays who issues the fund, how it is structured and invests, its Morningstar category and benchmark, size, headline costs and dates, sourced from Morningstar. Fund size counts every class of the fund; ETF net assets is this listing alone.
Fund size
$178.6M
OCT 2026
Distributions
Annually
Since inception
5.2 yrs
AUG 2021
- Legal name
- Spear Alpha ETF
- Issuer
- Spear
- Type
- Exchange-Traded Fund
- Structure
- Open Ended Investment Company
- Management style
- Actively managed
- Morningstar category
- Technology
- Category index
- Morningstar US Tech TR USD
- Benchmark
- S&P 500 (TR) (1970)
- ETF net assets
- $178.6M
- Units on issue
- 4.8M
- Management fee
- 0.75% p.a.
- Domicile
- United States
- Base currency
- USD
- Inception
- 3 AUG 2021
- Listed
- 4 AUG 2021
- Index provider
- Standard and Poors
Objective and strategy
The investment seeks long-term capital growth. The fund is an actively-managed exchange-traded fund (“ETF”) that will invest primarily in equity securities, including common stock or American depositary receipts (“ADRs”) of companies that Spear Advisors LLC (the “Adviser”) believes are poised to benefit from breakthrough innovation in industrial technology. The Adviser defines “innovation in industrial technology” as those technological developments that are transforming or have the potential to transform the industrial sector. It is non-diversified.
Asset allocation
Displays how the fund is split between shares, bonds, cash and other assets, sourced from Morningstar.
US equity 96.24%Non-US equity 3.62%
| Asset class | Net % | Long % | Short % |
|---|---|---|---|
| Equity | 99.85 | 99.85 | 0.00 |
| Bond | 0.00 | 0.00 | 0.00 |
| Cash | 0.19 | 0.19 | 0.00 |
| Other | -0.05 | 0.00 | 0.05 |
Sector exposure
Displays the share of the fund held in each sector, sourced from Morningstar.
Cyclical 0.00%Sensitive 100.00%Defensive 0.00%
- Basic Materials
- 0.00%
- Consumer Cyclical
- 0.00%
- Financial Services
- 0.00%
- Real Estate
- 0.00%
- Communication Services
- 0.16%
- Energy
- 0.00%
- Industrials
- 5.77%
- Technology
- 94.08%
- Consumer Defensive
- 0.00%
- Healthcare
- 0.00%
- Utilities
- 0.00%
Region exposure
Displays the share of the fund held in each region, sourced from Morningstar.
Developed markets 100.00%Emerging markets 0.00%
- North America
- 96.38%
- Latin America
- 0.00%
- United Kingdom
- 0.00%
- Europe Developed
- 3.62%
- Europe Emerging
- 0.00%
- Africa / Middle East
- 0.00%
- Japan
- 0.00%
- Australasia
- 0.00%
- Asia Developed
- 0.00%
- Asia Emerging
- 0.00%
Country exposure
Displays the twelve countries the fund holds most of, sourced from Morningstar.
- United States
- 96.38%
- Finland
- 3.62%
Style box
Displays where the fund's shareholdings sit on Morningstar's style box: size (large, mid, small) down and investment style (value, blend, growth) across, sourced from Morningstar.
LargeMidSmallValueBlendGrowth
- Style
- Mid Growth
- Average moat
- Wide
Size score
196
Small
Mid
Large
Value-growth score
361
Value
Blend
Growth
Economic moat
Wide 60%Narrow 34%None 6%
Market capitalisation
Displays the share of the fund's shareholdings in giant, large, mid, small and micro cap companies, sourced from Morningstar.
- Giant
- 7.16%
- Large
- 31.99%
- Mid
- 51.00%
- Small
- 9.85%
- Micro
- 0.00%
Giant 7%Large 32%Mid 51%Small 10%
- Average market cap
- $84.26B
- Number of holdings
- 27
- Shares held
- 26
Portfolio statistics · 22 OCT 2026
Displays the valuation, yield, size, concentration and quality of the fund's shareholdings taken together (trailing twelve months), sourced from Morningstar.
- Price / earnings
- 57.21
- Price / book
- 11.23
- Price / sales
- 12.30
- Price / cash flow
- 38.68
- Dividend yield
- 0.12%
- Assets in top 10
- 70.40%
- Return on equity
- 17.29%
- Net margin
- 12.20%
Top holdings · top 10 = 67.00% of assets
Displays the fund's ten largest holdings and their weight in the portfolio, sourced from Morningstar.
| Holding | % Weight | First bought | Market value | Currency | Units held | Sector | Country | |
|---|---|---|---|---|---|---|---|---|
| Astera Labs Inc ALAB | 11.94 | MAR 2026 | 27.8M | USD | 78,185 | Technology | United States | |
| ARM Holdings PLC ADR ARM | 8.10 | APR 2026 | 18.9M | USD | 65,170 | Technology | United States | |
| Cloudflare Inc NET | 8.04 | MAR 2026 | 18.7M | USD | 53,967 | Technology | United States | |
| Coherent Corp COHR | 7.52 | MAR 2026 | 17.5M | USD | 60,889 | Technology | United States | |
| Lam Research Corp LRCX | 7.22 | MAR 2026 | 16.8M | USD | 51,248 | Technology | United States | |
| Lumentum Holdings Inc LITE | 7.04 | MAR 2026 | 16.4M | USD | 16,900 | Technology | United States | |
| Space Exploration Technologies Corp Class A | 4.53 | AUG 2026 | 10.6M | USD | 70,000 | Industrials | United States | |
| KLA Corp KLAC | 4.47 | MAR 2026 | 10.4M | USD | 53,446 | Technology | United States | |
| MKS Inc MKSI | 4.34 | MAR 2026 | 10.1M | USD | 38,149 | Technology | United States | |
| Ciena Corp CIEN | 3.81 | MAR 2026 | 8.9M | USD | 25,236 | Technology | United States |
Trailing returns · 30 SEP 2026
Displays total returns after fees at net asset value, the return at the ASX market price, the return before fees, and where the fund ranks among funds in its Morningstar category, sourced from Morningstar.
Fund (NAV) Market price
1M
7.9
3M
-17.0
6M
35.3
YTD
25.1
1Y
25.0
3Y
40.0
5Y
19.4
| Period | Fund (NAV) % | Market price % | Before fees % | Rank in category |
|---|---|---|---|---|
| 1 month | 7.93 | 8.11 | 8.00 | 12 / 346 |
| 3 months | -17.00 | -16.86 | -16.84 | 94 / 322 |
| 6 months | 35.26 | 35.42 | 35.77 | 59 / 300 |
| Year to date | 25.09 | 25.21 | 25.80 | 63 / 297 |
| 1 year | 24.98 | 25.11 | 25.91 | 62 / 288 |
| 3 years p.a. | 40.02 | 40.07 | 41.07 | 19 / 244 |
| 5 years p.a. | 19.36 | 19.37 | 20.26 | 22 / 222 |
Returns to 30 SEP 2026, periods of 3 years and longer annualised. Rank is the percentile in the Morningstar category at 30 SEP 2026 (1 = best) over the funds ranked.
Calendar year returns
Displays the total return after fees and the capital (price) return for each calendar year, with the fund's rank in its Morningstar category, sourced from Morningstar.
Total Capital
2022
-44.8
2023
87.6
2024
20.6
2025
42.1
| Year | Total % | Capital % | Rank in category |
|---|---|---|---|
| 2025 | 42.10 | 42.10 | 8 / 251 |
| 2024 | 20.65 | 20.65 | 56 / 271 |
| 2023 | 87.63 | 87.63 | 2 / 267 |
| 2022 | -44.81 | -44.81 | 79 / 268 |
Risk statistics · 30 SEP 2026
Displays how the fund has moved relative to its category index: alpha (return beyond the index), beta (sensitivity to it), R-squared (how much the index explains), volatility and risk-adjusted returns, sourced from Morningstar.
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Alpha | 2.46 | 0.59 | 7.50 | — |
| Beta | 2.20 | 2.31 | 1.68 | — |
| R-squared | 38.84 | 47.16 | 41.29 | — |
| Standard deviation | 50.19 | 40.38 | 38.78 | — |
| Sharpe ratio | 0.61 | 0.93 | 0.55 | — |
| Sortino ratio | 1.00 | 1.60 | 0.90 | — |
| Tracking error | 42.81 | 33.31 | 31.31 | — |
| Information ratio | 0.19 | 0.55 | 0.25 | — |
| Upside capture % | 114.36 | 181.21 | 140.69 | — |
| Downside capture % | 65.19 | 194.69 | 124.33 | — |
| Maximum drawdown % | -18.30 | -28.72 | — | — |
Measured against MSCI ACWI NR USD with USTREAS T-Bill Auction Ave 3 Mon as the risk-free rate, to 30 SEP 2026. Maximum drawdown is on gross returns at the latest quarter end.
Portfolio risk score
Displays Morningstar's Portfolio Risk Score for the fund's holdings, how closely the ETF tracks its index day to day, the estimated cost of holding it against the index, the cost of trading it at market size, and its best and worst quarters since inception, sourced from Morningstar.
Risk score
137.9
Cash 0
Global shares 100
Morningstar Portfolio Risk Score at 30 SEP 2026.
- Est. holding cost %
- 3.205
- Market impact cost %
- 0.009
- Best quarter
- 63.27% · JUN 2026
- Worst quarter
- -31.48% · JUN 2022
Fees and costs
Displays the fund's ongoing costs as a percentage of assets per year: the PDS management fees and costs, performance fee and transaction costs that make up the total cost ratio (the RG 97 forward estimate, and what was charged last financial year), and the buy / sell spread, sourced from Morningstar.
- Management fees and costs
- 0.75% p.a.
- PDS dated
- 31 OCT 2025
Sustainability rating · 31 AUG 2026
Displays the Morningstar Sustainability Rating (1 to 5 globes, more is better) and the portfolio ESG risk score behind it (lower is less risk), against the average of the fund's global category, sourced from Morningstar and Sustainalytics.
Below Average
ESG risk score
19.09
Negligible
Low
Medium
High
Severe
Category average 18.42
- Rank in category
- 69th percentile of 1,506 funds
- Environmental risk
- 5.43
- Social risk
- 6.35
- Governance risk
- 4.29
- Portfolio covered
- 97.8%
ESG risk of holdings
Displays the share of the covered portfolio held in companies with negligible, low, medium, high and severe ESG risk, sourced from Morningstar and Sustainalytics.
- Negligible
- 3.95%
- Low
- 63.90%
- Medium
- 23.83%
- High
- 0.93%
- Severe
- 7.39%
0.11% of assets are in companies with high or severe controversies.
Carbon · 31 AUG 2026
Displays the portfolio carbon risk score (lower is less exposure to the transition to a low-carbon economy), the share of the portfolio in companies with fossil fuel revenue, and whether the fund earns Morningstar's Low Carbon Designation, sourced from Morningstar and Sustainalytics.
Carbon risk score
6.31
Low
Medium
High
Severe
Category average 4.26
- Carbon risk
- Low Risk
- Rank in category
- 76th percentile of 624 funds
- Fossil fuel involvement
- 0.00%
- Category average
- 0.68%
- Low Carbon Designation
- Yes
- Portfolio covered
- 90.7%
Fund managers
Displays the people Morningstar lists as managers of the fund, sourced from Morningstar.
- Ivana Delevska
Tenure
Displays how long the managers have run the fund: the average and longest tenure, who has served longest, the latest appointment and how many other funds the team manages, sourced from Morningstar.
- Number of managers
- 1
- Average tenure
- 5.2 years
- Longest tenure
- 5.2 years
- Longest serving
- Ivana Delevska · since 3 AUG 2021
- Most recent appointment
- Ivana Delevska · since 3 AUG 2021
- Managed since
- 3 AUG 2021
- Other funds managed
- 1
Displays all company announcements released by the company to the exchange, sourced from Morningstar.
Announcements
Announcements are available for ASX-listed companies only.
Opinion
No opinions for this company yet.
Action
No actions for this company yet.
Relevant suggested news and content from the site
Video
WATCH
Webinar Recording: Are commodities entering a Supercycle?
Recorded Wednesday 24th June @ 12.30pm
Podcast
LISTEN
Thursday 11th September – Dow off -220pts, SPI off -20pts
Daily Podcast Direct from the Desk
Video
WATCH
Buy Hold Sell: The 6 income stocks readers love, plus 2 expert ideas
Recorded 10th June 2026
Podcast
LISTEN
Wednesday 10th September – Dow up +196pts, SPI down -4pts
Daily Podcast Direct from the Desk
