LRGF vs. SPXM

Last updated Apr 1, 2026

Compare and contrast key facts about iShares MSCI USA Multifactor ETF (LRGF) and Azoria 500 Meritocracy ETF (SPXM).

LRGF and SPXM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. LRGF is a passively managed fund by iShares that tracks the performance of the MSCI USA Diversified Multi-Factor. It was launched on Apr 30, 2015. SPXM is an actively managed fund by Azoria. It was launched on Jul 7, 2025.

Performance

LRGF vs. SPXM - Performance Comparison

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

LRGF vs. SPXM - Yearly Performance Comparison

	2026 (YTD)	2025
LRGF iShares MSCI USA Multifactor ETF	-4.69%	8.49%
SPXM Azoria 500 Meritocracy ETF	0.00%	9.16%

Returns By Period

LRGF

• 1D: 2.92%
• 1M: -4.24%
• YTD: -4.69%
• 6M: -3.86%
• 1Y: 15.42%
• 3Y*: 18.34%
• 5Y*: 11.50%
• 10Y*: 12.34%

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)

LRGF vs. SPXM - Expense Ratio Comparison

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

SPXM

Azoria 500 Meritocracy ETF

LRGF

iShares MSCI USA Multifactor ETF

Return for Risk

LRGF vs. SPXM — Risk / Return Rank

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

LRGF

LRGF Risk / Return Rank: 54
LRGF Sharpe Ratio Rank: 48
LRGF Sortino Ratio Rank: 51
LRGF Omega Ratio Rank: 54
LRGF Calmar Ratio Rank: 54
LRGF Martin Ratio Rank: 62

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.

LRGF vs. SPXM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Multifactor ETF (LRGF) 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.

	LRGF	SPXM	Difference
Sharpe ratio Return per unit of total volatility	0.84	—	—
Sortino ratio Return per unit of downside risk	1.31	—	—
Omega ratio Gain probability vs. loss probability	1.20	—	—
Calmar ratio Return relative to maximum drawdown	1.30	—	—
Martin ratio Return relative to average drawdown	5.87	—	—
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

	LRGF	SPXM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.84	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	1.83	-1.21

Correlation

The correlation between LRGF and SPXM is 0.67, 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

LRGF vs. SPXM - Dividend Comparison

LRGF's dividend yield for the trailing twelve months is around 1.23%, more than SPXM's 0.24% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LRGF iShares MSCI USA Multifactor ETF	1.23%	1.16%	1.23%	1.49%	1.78%	1.05%	1.35%	1.76%	3.27%	1.68%	1.56%	0.83%
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

LRGF vs. SPXM - Drawdown Comparison

The maximum LRGF drawdown since its inception was -36.03%, which is greater than SPXM's maximum drawdown of -5.08%. Use the drawdown chart below to compare losses from any high point for LRGF and SPXM.

Drawdown Indicators

	LRGF	SPXM	Difference
Max Drawdown Largest peak-to-trough decline	-36.03%	-5.08%	-30.95%
Max Drawdown (1Y) Largest decline over 1 year	-12.37%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.62%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-36.03%	—	—
Current Drawdown Current decline from peak	-6.26%	-0.75%	-5.51%
Average Drawdown Average peak-to-trough decline	-4.60%	-0.80%	-3.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	—	—

Volatility

Volatility by Period

	LRGF	SPXM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.21%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.66%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.48%	9.38%	+9.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.05%	9.38%	+7.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.30%	9.38%	+8.92%