CZAR vs. SPXM
CZAR (Themes Natural Monopoly ETF) and SPXM (Azoria 500 Meritocracy ETF) are both Large Cap Blend Equities funds. CZAR is passively managed, while SPXM is actively managed. Over the past year, CZAR returned 2.18% vs 8.67% for SPXM. At a 0.43 correlation, their price movements are largely independent. CZAR charges 0.35%/yr vs 0.47%/yr for SPXM.
Performance
CZAR vs. SPXM - Performance Comparison
Loading charts...
Returns By Period
CZAR
- 1D
- -0.30%
- 1M
- 1.67%
- 6M
- -1.92%
- YTD
- -0.16%
- 1Y
- 2.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPXM
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 0.00%
- YTD
- 0.00%
- 1Y
- 8.67%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CZAR vs. SPXM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CZAR Themes Natural Monopoly ETF | -0.16% | 2.06% |
SPXM Azoria 500 Meritocracy ETF | 0.00% | 9.27% |
Correlation
The correlation between CZAR and SPXM is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Jul 8, 2025 | 0.43 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CZAR vs. SPXM — Risk / Return Rank
CZAR
SPXM
CZAR vs. SPXM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Themes Natural Monopoly ETF (CZAR) 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.
| CZAR | SPXM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.21 | ||
| Sortino ratioReturn per unit of downside risk | -1.63 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.38 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | 0.23 | 2.10 | -1.87 |
| Martin ratioReturn relative to average drawdown | 0.65 | 9.84 | -9.19 |
Loading charts...
Drawdowns
CZAR vs. SPXM - Drawdown Comparison
The maximum CZAR drawdown since its inception was -13.38%, which is greater than SPXM's maximum drawdown of -5.08%. Use the drawdown chart below to compare losses from any high point for CZAR and SPXM.
Loading charts...
Drawdown Indicators
| CZAR | SPXM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.38% | -5.08% | -8.30% |
Max Drawdown (1Y)Largest decline over 1 year | -9.54% | -5.08% | -4.46% |
Current DrawdownCurrent decline from peak | -2.92% | -0.75% | -2.17% |
Average DrawdownAverage peak-to-trough decline | -2.27% | -0.78% | -1.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.36% | — | — |
Volatility
CZAR vs. SPXM - Volatility Comparison
Themes Natural Monopoly ETF (CZAR) has a higher volatility of 3.25% compared to Azoria 500 Meritocracy ETF (SPXM) at 0.00%. This indicates that CZAR'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.
Loading charts...
Volatility by Period
| CZAR | SPXM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.25% | 0.00% | +3.25% |
Volatility (6M)Calculated over the trailing 6-month period | 10.19% | 3.99% | +6.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.24% | 7.68% | +4.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.92% | 7.64% | +7.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.92% | 7.64% | +7.28% |
CZAR vs. SPXM - Expense Ratio Comparison
CZAR has a 0.35% expense ratio, which is lower than SPXM's 0.47% expense ratio.
Dividends
CZAR vs. SPXM - Dividend Comparison
CZAR's dividend yield for the trailing twelve months is around 1.47%, more than SPXM's 0.24% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
CZAR Themes Natural Monopoly ETF | 1.47% | 1.47% | 0.94% |
SPXM Azoria 500 Meritocracy ETF | 0.24% | 0.24% | 0.00% |
Frequently Asked Questions
CZAR and SPXM have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CZAR has higher volatility (3.25%) compared to SPXM (0.00%). In terms of maximum drawdown, CZAR dropped -13.38% vs SPXM's -5.08%.
On 1-year performance, SPXM leads with 8.67% vs 2.18% for CZAR. On fees, CZAR is cheaper at 0.35% 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.
Over the 1-year period, SPXM has performed better with a 8.67% return vs 2.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CZAR is cheaper with a 0.35% expense ratio, compared with 0.47% for SPXM.
CZAR has the higher dividend yield at 1.47%, compared with 0.24% for SPXM.
They also come from different issuers: Themes and Azoria. Their fees differ too: 0.35% for CZAR and 0.47% for SPXM.
SPXM currently has the higher Sharpe Ratio (1.39 vs 0.18), 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.
Find the right allocation for CZAR and SPXM
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer