CGUS vs. SPXM

Last updated Jul 14, 2026

CGUS (Capital Group Core Equity ETF) and SPXM (Azoria 500 Meritocracy ETF) are both Large Cap Blend Equities funds. Both are actively managed. Over the past year, CGUS returned 19.41% vs 8.67% for SPXM. A 0.51 correlation means they provide meaningful diversification when combined. CGUS charges 0.33%/yr vs 0.47%/yr for SPXM.

Performance

CGUS vs. SPXM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Capital Group Core Equity ETF (CGUS) and Azoria 500 Meritocracy ETF (SPXM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CGUS

• 1D: -0.79%
• 1M: 1.86%
• 6M: 8.43%
• YTD: 10.94%
• 1Y: 19.41%
• 3Y*: 20.76%
• 5Y*: —
• 10Y*: —

SPXM

• 1D: 0.00%
• 1M: 0.00%
• 6M: 0.00%
• YTD: 0.00%
• 1Y: 8.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CGUS vs. SPXM - Yearly Performance Comparison

	2026 (YTD)	2025
CGUS Capital Group Core Equity ETF	10.94%	8.68%
SPXM Azoria 500 Meritocracy ETF	0.00%	9.27%

Correlation

The correlation between CGUS and SPXM is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (All Time) Calculated using the full available price history since Jul 8, 2025	0.51

The correlation between CGUS and SPXM has been stable across timeframes, ranging from 0.50 to 0.51 - a consistent structural relationship.

Return for Risk

CGUS vs. SPXM — Risk / Return Rank

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

CGUS

CGUS Risk / Return Rank: 56
CGUS Sharpe Ratio Rank: 55
CGUS Sortino Ratio Rank: 53
CGUS Omega Ratio Rank: 55
CGUS Calmar Ratio Rank: 51
CGUS Martin Ratio Rank: 65

SPXM

SPXM Risk / Return Rank: 60
SPXM Sharpe Ratio Rank: 51
SPXM Sortino Ratio Rank: 49
SPXM Omega Ratio Rank: 81
SPXM Calmar Ratio Rank: 53
SPXM Martin Ratio Rank: 68

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.

CGUS vs. SPXM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Capital Group Core Equity ETF (CGUS) 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.

	CGUS	SPXM	Difference
Sharpe ratio: Return per unit of total volatility	1.49	1.39	+0.10
Sortino ratio: Return per unit of downside risk	2.07	1.97	+0.10
Omega ratio: Gain probability vs. loss probability	1.27	1.38	-0.11
Calmar ratio: Return relative to maximum drawdown	2.03	2.10	-0.07
Martin ratio: Return relative to average drawdown	9.21	9.84	-0.63

CGUS vs. SPXM - Sharpe Ratio Comparison

The current CGUS Sharpe Ratio is 1.49, which is comparable to the SPXM Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of CGUS 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

CGUS vs. SPXM - Drawdown Comparison

The maximum CGUS drawdown since its inception was -21.86%, which is greater than SPXM's maximum drawdown of -5.08%. Use the drawdown chart below to compare losses from any high point for CGUS and SPXM.

Drawdown Indicators

	CGUS	SPXM	Difference
Max Drawdown Largest peak-to-trough decline	-21.86%	-5.08%	-16.78%
Max Drawdown (1Y) Largest decline over 1 year	-9.59%	-5.08%	-4.51%
Max Drawdown (3Y) Largest decline over 3 years	-18.06%	—	—
Current Drawdown Current decline from peak	-0.79%	-0.75%	-0.04%
Average Drawdown Average peak-to-trough decline	-4.56%	-0.78%	-3.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.11%	—	—

Volatility

CGUS vs. SPXM - Volatility Comparison

Capital Group Core Equity ETF (CGUS) has a higher volatility of 4.18% compared to Azoria 500 Meritocracy ETF (SPXM) at 0.00%. This indicates that CGUS'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

	CGUS	SPXM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.18%	0.00%	+4.18%
Volatility (6M) Calculated over the trailing 6-month period	10.49%	3.99%	+6.50%
Volatility (1Y) Calculated over the trailing 1-year period	13.12%	7.68%	+5.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.46%	7.64%	+8.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.46%	7.64%	+8.82%

CGUS vs. SPXM - Expense Ratio Comparison

CGUS has a 0.33% expense ratio, which is lower than SPXM's 0.47% expense ratio.

Dividends

CGUS vs. SPXM - Dividend Comparison

CGUS's dividend yield for the trailing twelve months is around 0.83%, more than SPXM's 0.24% yield.

Position	TTM	2025	2024	2023	2022
CGUS Capital Group Core Equity ETF	0.83%	0.95%	1.02%	1.22%	1.10%
SPXM Azoria 500 Meritocracy ETF	0.24%	0.24%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CGUS and SPXM in my portfolio?

CGUS and SPXM have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CGUS or SPXM?

CGUS has higher volatility (4.18%) compared to SPXM (0.00%). In terms of maximum drawdown, CGUS dropped -21.86% vs SPXM's -5.08%.

Which ETF is better, CGUS or SPXM?

On 1-year performance, CGUS leads with 19.41% vs 8.67% for SPXM. On fees, CGUS is cheaper at 0.33% 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, CGUS or SPXM?

Over the 1-year period, CGUS has performed better with a 19.41% return vs 8.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CGUS or SPXM?

CGUS is cheaper with a 0.33% expense ratio, compared with 0.47% for SPXM.

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

CGUS has the higher dividend yield at 0.83%, compared with 0.24% for SPXM.

What is the main difference between CGUS and SPXM?

They also come from different issuers: Capital Group and Azoria. Their fees differ too: 0.33% for CGUS and 0.47% for SPXM.

Which has better risk-adjusted returns?

CGUS currently has the higher Sharpe Ratio (1.49 vs 1.39), 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.