IWV vs. SPXM

Last updated Apr 1, 2026

Compare and contrast key facts about iShares Russell 3000 ETF (IWV) and Azoria 500 Meritocracy ETF (SPXM).

IWV and SPXM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IWV is a passively managed fund by iShares that tracks the performance of the Russell 3000 Index. It was launched on May 22, 2000. SPXM is an actively managed fund by Azoria. It was launched on Jul 7, 2025.

Performance

IWV vs. SPXM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell 3000 ETF (IWV) and Azoria 500 Meritocracy ETF (SPXM). The values are adjusted to include any dividend payments, if applicable.

IWV vs. SPXM - Yearly Performance Comparison

	2026 (YTD)	2025
IWV iShares Russell 3000 ETF	-3.99%	10.20%
SPXM Azoria 500 Meritocracy ETF	0.00%	9.16%

Returns By Period

IWV

• 1D: 2.99%
• 1M: -4.93%
• YTD: -3.99%
• 6M: -1.71%
• 1Y: 17.86%
• 3Y*: 17.68%
• 5Y*: 10.40%
• 10Y*: 13.46%

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)

IWV vs. SPXM - Expense Ratio Comparison

IWV has a 0.20% expense ratio, which is lower than SPXM's 0.47% expense ratio.

SPXM

Azoria 500 Meritocracy ETF

IWV

iShares Russell 3000 ETF

Return for Risk

IWV vs. SPXM — Risk / Return Rank

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

IWV

IWV Risk / Return Rank: 64
IWV Sharpe Ratio Rank: 58
IWV Sortino Ratio Rank: 62
IWV Omega Ratio Rank: 64
IWV Calmar Ratio Rank: 63
IWV Martin Ratio Rank: 74

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.

IWV vs. SPXM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell 3000 ETF (IWV) 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.

	IWV	SPXM	Difference
Sharpe ratio Return per unit of total volatility	0.97	—	—
Sortino ratio Return per unit of downside risk	1.49	—	—
Omega ratio Gain probability vs. loss probability	1.22	—	—
Calmar ratio Return relative to maximum drawdown	1.50	—	—
Martin ratio Return relative to average drawdown	7.18	—	—
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

	IWV	SPXM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.97	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	1.83	-1.41

Correlation

The correlation between IWV and SPXM is 0.68, 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

IWV vs. SPXM - Dividend Comparison

IWV's dividend yield for the trailing twelve months is around 0.99%, more than SPXM's 0.24% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IWV iShares Russell 3000 ETF	0.99%	0.96%	1.08%	1.30%	1.56%	1.04%	1.30%	1.69%	1.97%	1.58%	1.79%	1.99%
SPXM Azoria 500 Meritocracy ETF	0.24%	0.24%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

IWV vs. SPXM - Drawdown Comparison

The maximum IWV drawdown since its inception was -55.61%, which is greater than SPXM's maximum drawdown of -5.08%. Use the drawdown chart below to compare losses from any high point for IWV and SPXM.

Drawdown Indicators

	IWV	SPXM	Difference
Max Drawdown Largest peak-to-trough decline	-55.61%	-5.08%	-50.53%
Max Drawdown (1Y) Largest decline over 1 year	-12.31%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.11%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-35.22%	—	—
Current Drawdown Current decline from peak	-6.17%	-0.75%	-5.42%
Average Drawdown Average peak-to-trough decline	-10.65%	-0.80%	-9.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.57%	—	—

Volatility

Volatility by Period

	IWV	SPXM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.43%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.68%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.45%	9.38%	+9.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.25%	9.38%	+7.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.39%	9.38%	+9.01%