SKRE vs. SPXM

Last updated Apr 1, 2026

Compare and contrast key facts about Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE) and Azoria 500 Meritocracy ETF (SPXM).

SKRE and SPXM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SKRE is a passively managed fund by Tuttle that tracks the performance of the S&P Regional Banks Select Industry. It was launched on Jan 4, 2024. SPXM is an actively managed fund by Azoria. It was launched on Jul 7, 2025.

Performance

SKRE vs. SPXM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE) and Azoria 500 Meritocracy ETF (SPXM). The values are adjusted to include any dividend payments, if applicable.

SKRE vs. SPXM - Yearly Performance Comparison

	2026 (YTD)	2025
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF	-5.59%	-12.81%
SPXM Azoria 500 Meritocracy ETF	0.00%	9.16%

Returns By Period

SKRE

• 1D: -4.82%
• 1M: 3.12%
• YTD: -5.59%
• 6M: -14.43%
• 1Y: -40.34%
• 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)

SKRE vs. SPXM - Expense Ratio Comparison

SKRE has a 0.75% expense ratio, which is higher than SPXM's 0.47% expense ratio.

SKRE

Tuttle Capital Daily 2X Inverse Regional Banks ETF

SPXM

Azoria 500 Meritocracy ETF

Return for Risk

SKRE vs. SPXM — Risk / Return Rank

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

SKRE

SKRE Risk / Return Rank: 3
SKRE Sharpe Ratio Rank: 2
SKRE Sortino Ratio Rank: 2
SKRE Omega Ratio Rank: 2
SKRE Calmar Ratio Rank: 2
SKRE Martin Ratio Rank: 5

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.

SKRE vs. SPXM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE) 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.

	SKRE	SPXM	Difference
Sharpe ratio Return per unit of total volatility	-0.71	—	—
Sortino ratio Return per unit of downside risk	-0.91	—	—
Omega ratio Gain probability vs. loss probability	0.89	—	—
Calmar ratio Return relative to maximum drawdown	-0.65	—	—
Martin ratio Return relative to average drawdown	-0.92	—	—
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

	SKRE	SPXM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.71	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.65	1.83	-2.48

Correlation

The correlation between SKRE and SPXM is -0.33. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

SKRE vs. SPXM - Dividend Comparison

SKRE's dividend yield for the trailing twelve months is around 0.27%, more than SPXM's 0.24% yield.

	TTM	2025	2024
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF	0.27%	0.26%	3.16%
SPXM Azoria 500 Meritocracy ETF	0.24%	0.24%	0.00%

Drawdowns

SKRE vs. SPXM - Drawdown Comparison

The maximum SKRE drawdown since its inception was -75.30%, which is greater than SPXM's maximum drawdown of -5.08%. Use the drawdown chart below to compare losses from any high point for SKRE and SPXM.

Drawdown Indicators

	SKRE	SPXM	Difference
Max Drawdown Largest peak-to-trough decline	-75.30%	-5.08%	-70.22%
Max Drawdown (1Y) Largest decline over 1 year	-63.10%	—	—
Current Drawdown Current decline from peak	-69.37%	-0.75%	-68.62%
Average Drawdown Average peak-to-trough decline	-45.25%	-0.80%	-44.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	44.95%	—	—

Volatility

Volatility by Period

	SKRE	SPXM	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.68%	—	—
Volatility (6M) Calculated over the trailing 6-month period	35.66%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	57.34%	9.38%	+47.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	56.79%	9.38%	+47.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.79%	9.38%	+47.41%