ABFL vs. SPXM

Last updated Jul 23, 2026

ABFL (Abacus FCF Leaders ETF) and SPXM (Azoria 500 Meritocracy ETF) are both Large Cap Blend Equities funds. Both are actively managed. Over the past year, ABFL returned 19.28% vs 7.81% for SPXM. At a 0.40 correlation, their price movements are largely independent. ABFL charges 0.49%/yr vs 0.47%/yr for SPXM.

Performance

ABFL vs. SPXM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Abacus FCF Leaders ETF (ABFL) and Azoria 500 Meritocracy ETF (SPXM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ABFL

• 1D: -0.18%
• 1M: -1.54%
• 6M: 15.34%
• YTD: 17.10%
• 1Y: 19.28%
• 3Y*: 16.55%
• 5Y*: 11.59%
• 10Y*: —
• ALL TIME*: 14.36%

SPXM

• 1D: 0.00%
• 1M: 0.00%
• 6M: 0.00%
• YTD: 0.00%
• 1Y: 7.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.92%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ABFL Abacus FCF Leaders ETF	$1.37M	$1.32M	$1.27M
SPXM Azoria 500 Meritocracy ETF	$0.00	$0.00	$0.00

ABFL vs. SPXM - Yearly Performance Comparison

	2026 (YTD)	2025
ABFL Abacus FCF Leaders ETF	17.10%	0.59%
SPXM Azoria 500 Meritocracy ETF	0.00%	9.27%

Correlation

The correlation between ABFL and SPXM is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (All Time) Calculated using the full available price history since Jul 8, 2025	0.40

Return for Risk

ABFL vs. SPXM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ABFL

ABFL Risk / Return Rank: 52
ABFL Sharpe Ratio Rank: 43
ABFL Sortino Ratio Rank: 42
ABFL Omega Ratio Rank: 40
ABFL Calmar Ratio Rank: 71
ABFL Martin Ratio Rank: 63

SPXM

SPXM Risk / Return Rank: 57
SPXM Sharpe Ratio Rank: 47
SPXM Sortino Ratio Rank: 46
SPXM Omega Ratio Rank: 78
SPXM Calmar Ratio Rank: 49
SPXM Martin Ratio Rank: 66

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ABFL vs. SPXM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Abacus FCF Leaders ETF (ABFL) and Azoria 500 Meritocracy ETF (SPXM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ABFL	SPXM	Difference
Sharpe ratio: Return per unit of total volatility	1.16	1.26	-0.09
Sortino ratio: Return per unit of downside risk	1.66	1.79	-0.13
Omega ratio: Gain probability vs. loss probability	1.20	1.35	-0.15
Calmar ratio: Return relative to maximum drawdown	2.70	1.89	+0.81
Martin ratio: Return relative to average drawdown	8.25	8.79	-0.53

ABFL vs. SPXM - Sharpe Ratio Comparison

The current ABFL Sharpe Ratio is 1.16, which is comparable to the SPXM Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of ABFL and SPXM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ABFL vs. SPXM - Drawdown Comparison

The maximum ABFL drawdown since its inception was -34.95%, which is greater than SPXM's maximum drawdown of -5.08%. Use the drawdown chart below to compare losses from any high point for ABFL and SPXM.

Drawdown Indicators

	ABFL	SPXM	Difference
Max Drawdown Largest peak-to-trough decline	-34.95%	-5.08%	-29.87%
Max Drawdown (1Y) Largest decline over 1 year	-7.17%	-5.08%	-2.09%
Max Drawdown (3Y) Largest decline over 3 years	-19.92%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.88%	—	—
Current Drawdown Current decline from peak	-3.02%	-0.75%	-2.27%
Average Drawdown Average peak-to-trough decline	-4.95%	-0.78%	-4.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.34%	—	—

Volatility

ABFL vs. SPXM - Volatility Comparison

Abacus FCF Leaders ETF (ABFL) has a higher volatility of 5.79% compared to Azoria 500 Meritocracy ETF (SPXM) at 0.00%. This indicates that ABFL's price experiences larger fluctuations and is considered to be riskier than SPXM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ABFL	SPXM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.79%	0.00%	+5.79%
Volatility (6M) Calculated over the trailing 6-month period	13.43%	2.95%	+10.48%
Volatility (1Y) Calculated over the trailing 1-year period	16.68%	7.63%	+9.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.37%	7.52%	+9.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.76%	7.52%	+11.24%

ABFL vs. SPXM - Expense Ratio Comparison

ABFL has a 0.49% expense ratio, which is higher than SPXM's 0.47% expense ratio.

Dividends

ABFL vs. SPXM - Dividend Comparison

ABFL's dividend yield for the trailing twelve months is around 0.54%, more than SPXM's 0.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
ABFL Abacus FCF Leaders ETF	0.54%	0.62%	0.70%	0.94%	1.36%	9.63%	0.41%	0.72%	0.62%	0.40%
SPXM Azoria 500 Meritocracy ETF	0.24%	0.24%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ABFL and SPXM in my portfolio?

ABFL and SPXM have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ABFL or SPXM?

ABFL has higher volatility (5.79%) compared to SPXM (0.00%). In terms of maximum drawdown, ABFL dropped -34.95% vs SPXM's -5.08%.

Which ETF is better, ABFL or SPXM?

On 1-year performance, ABFL leads with 19.28% vs 7.81% for SPXM. On fees, SPXM is cheaper at 0.47% per year. On volatility, SPXM has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ABFL or SPXM?

Over the 1-year period, ABFL has performed better with a 19.28% return vs 7.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ABFL or SPXM?

SPXM is cheaper with a 0.47% expense ratio, compared with 0.49% for ABFL.

Which ETF pays a higher dividend yield, ABFL or SPXM?

ABFL has the higher dividend yield at 0.54%, compared with 0.24% for SPXM.

What is the main difference between ABFL and SPXM?

They also come from different issuers: Abacus and Azoria. Their fees differ too: 0.49% for ABFL and 0.47% for SPXM.

Which has better risk-adjusted returns?

SPXM currently has the higher Sharpe Ratio (1.26 vs 1.16), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.