KRUZ vs. SPXM

Last updated Apr 1, 2026

Compare and contrast key facts about Unusual Whales Subversive Republican Trading ETF (KRUZ) and Azoria 500 Meritocracy ETF (SPXM).

KRUZ and SPXM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. KRUZ is an actively managed fund by Subversive. It was launched on Feb 7, 2023. SPXM is an actively managed fund by Azoria. It was launched on Jul 7, 2025.

Performance

KRUZ vs. SPXM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Unusual Whales Subversive Republican Trading ETF (KRUZ) and Azoria 500 Meritocracy ETF (SPXM). The values are adjusted to include any dividend payments, if applicable.

KRUZ vs. SPXM - Yearly Performance Comparison

	2026 (YTD)	2025
KRUZ Unusual Whales Subversive Republican Trading ETF	0.00%	0.00%
SPXM Azoria 500 Meritocracy ETF	0.00%	9.16%

Returns By Period

KRUZ

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 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)

KRUZ vs. SPXM - Expense Ratio Comparison

KRUZ has a 0.83% expense ratio, which is higher than SPXM's 0.47% expense ratio.

KRUZ

Unusual Whales Subversive Republican Trading ETF

SPXM

Azoria 500 Meritocracy ETF

Return for Risk

KRUZ vs. SPXM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Unusual Whales Subversive Republican Trading ETF (KRUZ) 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.

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

Sharpe Ratios by Period

	KRUZ	SPXM	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	—	1.83	—

Dividends

KRUZ vs. SPXM - Dividend Comparison

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

	TTM	2025	2024	2023
KRUZ Unusual Whales Subversive Republican Trading ETF	0.00%	0.00%	0.57%	1.01%
SPXM Azoria 500 Meritocracy ETF	0.24%	0.24%	0.00%	0.00%

Drawdowns

Drawdown Indicators

	KRUZ	SPXM	Difference
Max Drawdown Largest peak-to-trough decline	—	-5.08%	—
Current Drawdown Current decline from peak	—	-0.75%	—
Average Drawdown Average peak-to-trough decline	—	-0.80%	—

Volatility

Volatility by Period

	KRUZ	SPXM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	—	9.38%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	9.38%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	9.38%	—