GUSE vs. SPXM

Last updated Jul 14, 2026

GUSE (Goldman Sachs Enhanced U.S. Equity ETF) and SPXM (Azoria 500 Meritocracy ETF) are both Large Cap Blend Equities funds. Both are actively managed. At a 0.27 correlation, their price movements are largely independent. GUSE charges 0.30%/yr vs 0.47%/yr for SPXM.

Performance

GUSE vs. SPXM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Enhanced U.S. Equity ETF (GUSE) and Azoria 500 Meritocracy ETF (SPXM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

GUSE

• 1D: -0.67%
• 1M: 1.58%
• 6M: 8.74%
• YTD: 11.48%
• 1Y: —
• 3Y*: —
• 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)

GUSE vs. SPXM - Yearly Performance Comparison

	2026 (YTD)	2025
GUSE Goldman Sachs Enhanced U.S. Equity ETF	11.48%	2.38%
SPXM Azoria 500 Meritocracy ETF	0.00%	1.74%

Correlation

The correlation between GUSE and SPXM is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 17, 2025	0.27

Return for Risk

GUSE vs. SPXM — Risk / Return Rank

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

GUSE

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

GUSE vs. SPXM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Enhanced U.S. Equity ETF (GUSE) 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.

	GUSE	SPXM	Difference
Sharpe ratio: Return per unit of total volatility	—	1.39	—
Sortino ratio: Return per unit of downside risk	—	1.97	—
Omega ratio: Gain probability vs. loss probability	—	1.38	—
Calmar ratio: Return relative to maximum drawdown	—	2.10	—
Martin ratio: Return relative to average drawdown	—	9.84	—

Drawdowns

GUSE vs. SPXM - Drawdown Comparison

The maximum GUSE drawdown since its inception was -8.54%, which is greater than SPXM's maximum drawdown of -5.08%. Use the drawdown chart below to compare losses from any high point for GUSE and SPXM.

Drawdown Indicators

	GUSE	SPXM	Difference
Max Drawdown Largest peak-to-trough decline	-8.54%	-5.08%	-3.46%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.08%	—
Current Drawdown Current decline from peak	-0.85%	-0.75%	-0.10%
Average Drawdown Average peak-to-trough decline	-1.42%	-0.78%	-0.64%

Volatility

Volatility by Period

	GUSE	SPXM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.00%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.99%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.95%	7.68%	+6.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.95%	7.64%	+6.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.95%	7.64%	+6.31%

GUSE vs. SPXM - Expense Ratio Comparison

GUSE has a 0.30% expense ratio, which is lower than SPXM's 0.47% expense ratio.

Dividends

GUSE vs. SPXM - Dividend Comparison

GUSE's dividend yield for the trailing twelve months is around 0.65%, more than SPXM's 0.24% yield.

Position	TTM	2025
GUSE Goldman Sachs Enhanced U.S. Equity ETF	0.65%	0.73%
SPXM Azoria 500 Meritocracy ETF	0.24%	0.24%

Frequently Asked Questions

Can I hold both GUSE and SPXM in my portfolio?

GUSE and SPXM have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GUSE or SPXM?

On fees, GUSE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GUSE or SPXM?

GUSE is cheaper with a 0.30% expense ratio, compared with 0.47% for SPXM.

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

GUSE has the higher dividend yield at 0.65%, compared with 0.24% for SPXM.

What is the main difference between GUSE and SPXM?

They also come from different issuers: Goldman Sachs and Azoria. Their fees differ too: 0.30% for GUSE and 0.47% for SPXM.