BWTG vs. SPXM

Last updated Apr 1, 2026

Compare and contrast key facts about Brendan Wood TopGun ETF (BWTG) and Azoria 500 Meritocracy ETF (SPXM).

BWTG and SPXM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BWTG is an actively managed fund by Brendan Wood. It was launched on Nov 8, 2023. SPXM is an actively managed fund by Azoria. It was launched on Jul 7, 2025.

Performance

BWTG vs. SPXM - Performance Comparison

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

BWTG vs. SPXM - Yearly Performance Comparison

	2026 (YTD)	2025
BWTG Brendan Wood TopGun ETF	-5.23%	9.79%
SPXM Azoria 500 Meritocracy ETF	0.00%	9.16%

Returns By Period

BWTG

• 1D: 2.68%
• 1M: -6.33%
• YTD: -5.23%
• 6M: -2.14%
• 1Y: 8.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPXM

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 2.20%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BWTG vs. SPXM - Expense Ratio Comparison

BWTG has a 0.95% expense ratio, which is higher than SPXM's 0.47% expense ratio.

BWTG

Brendan Wood TopGun ETF

SPXM

Azoria 500 Meritocracy ETF

Return for Risk

BWTG vs. SPXM — Risk / Return Rank

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

BWTG

BWTG Risk / Return Rank: 31
BWTG Sharpe Ratio Rank: 28
BWTG Sortino Ratio Rank: 28
BWTG Omega Ratio Rank: 28
BWTG Calmar Ratio Rank: 35
BWTG Martin Ratio Rank: 38

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.

BWTG vs. SPXM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brendan Wood TopGun ETF (BWTG) 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.

	BWTG	SPXM	Difference
Sharpe ratio Return per unit of total volatility	0.54	—	—
Sortino ratio Return per unit of downside risk	0.86	—	—
Omega ratio Gain probability vs. loss probability	1.12	—	—
Calmar ratio Return relative to maximum drawdown	0.90	—	—
Martin ratio Return relative to average drawdown	3.61	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	BWTG	SPXM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.54	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.34	1.83	-0.49

Correlation

The correlation between BWTG and SPXM is 0.58, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

BWTG vs. SPXM - Dividend Comparison

BWTG's dividend yield for the trailing twelve months is around 0.37%, more than SPXM's 0.24% yield.

	TTM	2025	2024	2023
BWTG Brendan Wood TopGun ETF	0.37%	0.35%	0.25%	0.19%
SPXM Azoria 500 Meritocracy ETF	0.24%	0.24%	0.00%	0.00%

Drawdowns

BWTG vs. SPXM - Drawdown Comparison

The maximum BWTG drawdown since its inception was -13.18%, which is greater than SPXM's maximum drawdown of -5.08%. Use the drawdown chart below to compare losses from any high point for BWTG and SPXM.

Drawdown Indicators

	BWTG	SPXM	Difference
Max Drawdown Largest peak-to-trough decline	-13.18%	-5.08%	-8.10%
Max Drawdown (1Y) Largest decline over 1 year	-9.93%	—	—
Current Drawdown Current decline from peak	-7.51%	-0.75%	-6.76%
Average Drawdown Average peak-to-trough decline	-1.79%	-0.80%	-0.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.49%	—	—

Volatility

Volatility by Period

	BWTG	SPXM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.98%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.82%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.24%	9.38%	+5.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.98%	9.38%	+4.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.98%	9.38%	+4.60%