DJUN vs. SPXM

Last updated Apr 1, 2026

Compare and contrast key facts about FT Cboe Vest U.S. Equity Deep Buffer ETF - June (DJUN) and Azoria 500 Meritocracy ETF (SPXM).

DJUN and SPXM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DJUN is a passively managed fund by First Trust that tracks the performance of the Cboe S&P 500 30% (-5% to -35%) Buffer Protect June Series Index. It was launched on Jun 19, 2020. SPXM is an actively managed fund by Azoria. It was launched on Jul 7, 2025.

Performance

DJUN vs. SPXM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Cboe Vest U.S. Equity Deep Buffer ETF - June (DJUN) and Azoria 500 Meritocracy ETF (SPXM). The values are adjusted to include any dividend payments, if applicable.

DJUN vs. SPXM - Yearly Performance Comparison

	2026 (YTD)	2025
DJUN FT Cboe Vest U.S. Equity Deep Buffer ETF - June	-0.64%	5.04%
SPXM Azoria 500 Meritocracy ETF	0.00%	9.16%

Returns By Period

DJUN

• 1D: 1.60%
• 1M: -1.28%
• YTD: -0.64%
• 6M: 1.16%
• 1Y: 12.04%
• 3Y*: 11.33%
• 5Y*: 7.34%
• 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)

DJUN vs. SPXM - Expense Ratio Comparison

DJUN has a 0.85% expense ratio, which is higher than SPXM's 0.47% expense ratio.

DJUN

FT Cboe Vest U.S. Equity Deep Buffer ETF - June

SPXM

Azoria 500 Meritocracy ETF

Return for Risk

DJUN vs. SPXM — Risk / Return Rank

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

DJUN

DJUN Risk / Return Rank: 69
DJUN Sharpe Ratio Rank: 67
DJUN Sortino Ratio Rank: 71
DJUN Omega Ratio Rank: 82
DJUN Calmar Ratio Rank: 52
DJUN Martin Ratio Rank: 71

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.

DJUN vs. SPXM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Deep Buffer ETF - June (DJUN) 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.

	DJUN	SPXM	Difference
Sharpe ratio Return per unit of total volatility	1.19	—	—
Sortino ratio Return per unit of downside risk	1.81	—	—
Omega ratio Gain probability vs. loss probability	1.32	—	—
Calmar ratio Return relative to maximum drawdown	1.36	—	—
Martin ratio Return relative to average drawdown	7.41	—	—
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

	DJUN	SPXM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.19	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.87	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.96	1.83	-0.87

Correlation

The correlation between DJUN and SPXM is 0.64, 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

DJUN vs. SPXM - Dividend Comparison

DJUN has not paid dividends to shareholders, while SPXM's dividend yield for the trailing twelve months is around 0.24%.

	TTM	2025
DJUN FT Cboe Vest U.S. Equity Deep Buffer ETF - June	0.00%	0.00%
SPXM Azoria 500 Meritocracy ETF	0.24%	0.24%

Drawdowns

DJUN vs. SPXM - Drawdown Comparison

The maximum DJUN drawdown since its inception was -11.96%, which is greater than SPXM's maximum drawdown of -5.08%. Use the drawdown chart below to compare losses from any high point for DJUN and SPXM.

Drawdown Indicators

	DJUN	SPXM	Difference
Max Drawdown Largest peak-to-trough decline	-11.96%	-5.08%	-6.88%
Max Drawdown (1Y) Largest decline over 1 year	-7.33%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-11.96%	—	—
Current Drawdown Current decline from peak	-1.61%	-0.75%	-0.86%
Average Drawdown Average peak-to-trough decline	-1.64%	-0.80%	-0.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.40%	—	—

Volatility

Volatility by Period

	DJUN	SPXM	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.82%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.77%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.23%	9.38%	+0.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.50%	9.38%	-0.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.16%	9.38%	-1.22%