MNZL vs. SPXM

Last updated Jun 5, 2026

MNZL (Manzil Russell Halal USA Broad Market ETF) and SPXM (Azoria 500 Meritocracy ETF) are both Large Cap Blend Equities funds. MNZL is passively managed, while SPXM is actively managed. At a 0.28 correlation, their price movements are largely independent. MNZL charges 0.40%/yr vs 0.47%/yr for SPXM.

Performance

MNZL vs. SPXM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Manzil Russell Halal USA Broad Market ETF (MNZL) and Azoria 500 Meritocracy ETF (SPXM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MNZL

• 1D: -1.04%
• 1M: 8.16%
• YTD: 18.20%
• 6M: 16.58%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPXM

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: -0.14%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

MNZL vs. SPXM - Yearly Performance Comparison

	2026 (YTD)	2025
MNZL Manzil Russell Halal USA Broad Market ETF	18.20%	2.90%
SPXM Azoria 500 Meritocracy ETF	0.00%	3.09%

Correlation

The correlation between MNZL and SPXM is 0.28, 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 20, 2025	0.28

Return for Risk

MNZL vs. SPXM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Manzil Russell Halal USA Broad Market ETF (MNZL) 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

	MNZL	SPXM	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	2.84	1.56	+1.28

Drawdowns

MNZL vs. SPXM - Drawdown Comparison

The maximum MNZL drawdown since its inception was -9.66%, which is greater than SPXM's maximum drawdown of -5.08%. Use the drawdown chart below to compare losses from any high point for MNZL and SPXM.

Drawdown Indicators

	MNZL	SPXM	Difference
Max Drawdown Largest peak-to-trough decline	-9.66%	-5.08%	-4.58%
Current Drawdown Current decline from peak	-1.04%	-0.75%	-0.29%
Average Drawdown Average peak-to-trough decline	-1.74%	-0.79%	-0.95%

Volatility

Volatility by Period

	MNZL	SPXM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	15.73%	8.16%	+7.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.73%	8.16%	+7.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.73%	8.16%	+7.57%

MNZL vs. SPXM - Expense Ratio Comparison

MNZL has a 0.40% expense ratio, which is lower than SPXM's 0.47% expense ratio.

Dividends

MNZL vs. SPXM - Dividend Comparison

MNZL's dividend yield for the trailing twelve months is around 0.03%, less than SPXM's 0.24% yield.

Position	TTM	2025
MNZL Manzil Russell Halal USA Broad Market ETF	0.03%	0.04%
SPXM Azoria 500 Meritocracy ETF	0.24%	0.24%

Frequently Asked Questions

Can I hold both MNZL and SPXM in my portfolio?

MNZL and SPXM have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MNZL or SPXM?

On fees, MNZL is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MNZL or SPXM?

MNZL is cheaper with a 0.40% expense ratio, compared with 0.47% for SPXM.

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

SPXM has the higher dividend yield at 0.24%, compared with 0.03% for MNZL.

What is the main difference between MNZL and SPXM?

They also come from different issuers: Manzil and Azoria. Their fees differ too: 0.40% for MNZL and 0.47% for SPXM.