SPXM vs. BBUS

Last updated Jul 15, 2026

SPXM (Azoria 500 Meritocracy ETF) and BBUS (JPMorgan BetaBuilders U.S. Equity ETF) are both Large Cap Blend Equities funds. SPXM is actively managed, while BBUS is passively managed. Over the past year, SPXM returned 8.61% vs 21.17% for BBUS. A 0.53 correlation means they provide meaningful diversification when combined. SPXM charges 0.47%/yr vs 0.02%/yr for BBUS.

Performance

SPXM vs. BBUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Azoria 500 Meritocracy ETF (SPXM) and JPMorgan BetaBuilders U.S. Equity ETF (BBUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SPXM

• 1D: 0.00%
• 1M: 0.00%
• 6M: 0.00%
• YTD: 0.00%
• 1Y: 8.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BBUS

• 1D: 0.39%
• 1M: 1.72%
• 6M: 8.66%
• YTD: 10.50%
• 1Y: 21.17%
• 3Y*: 20.30%
• 5Y*: 12.67%
• 10Y*: —

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

SPXM vs. BBUS - Yearly Performance Comparison

	2026 (YTD)	2025
SPXM Azoria 500 Meritocracy ETF	0.00%	9.27%
BBUS JPMorgan BetaBuilders U.S. Equity ETF	10.50%	10.31%

Correlation

The correlation between SPXM and BBUS is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.52
Correlation (All Time) Calculated using the full available price history since Jul 8, 2025	0.53

The correlation between SPXM and BBUS has been stable across timeframes, ranging from 0.52 to 0.53 - a consistent structural relationship.

Return for Risk

SPXM vs. BBUS — Risk / Return Rank

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

SPXM

SPXM Risk / Return Rank: 60
SPXM Sharpe Ratio Rank: 49
SPXM Sortino Ratio Rank: 48
SPXM Omega Ratio Rank: 81
SPXM Calmar Ratio Rank: 52
SPXM Martin Ratio Rank: 68

BBUS

BBUS Risk / Return Rank: 63
BBUS Sharpe Ratio Rank: 64
BBUS Sortino Ratio Rank: 63
BBUS Omega Ratio Rank: 64
BBUS Calmar Ratio Rank: 58
BBUS Martin Ratio Rank: 69

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.

SPXM vs. BBUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Azoria 500 Meritocracy ETF (SPXM) and JPMorgan BetaBuilders U.S. Equity ETF (BBUS). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	SPXM	BBUS	Difference
Sharpe ratio: Return per unit of total volatility	1.38	1.69	-0.31
Sortino ratio: Return per unit of downside risk	1.95	2.33	-0.38
Omega ratio: Gain probability vs. loss probability	1.38	1.31	+0.07
Calmar ratio: Return relative to maximum drawdown	2.09	2.31	-0.22
Martin ratio: Return relative to average drawdown	9.77	9.94	-0.17

SPXM vs. BBUS - Sharpe Ratio Comparison

The current SPXM Sharpe Ratio is 1.38, which is comparable to the BBUS Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of SPXM and BBUS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SPXM vs. BBUS - Drawdown Comparison

The maximum SPXM drawdown since its inception was -5.08%, smaller than the maximum BBUS drawdown of -35.35%. Use the drawdown chart below to compare losses from any high point for SPXM and BBUS.

Drawdown Indicators

	SPXM	BBUS	Difference
Max Drawdown Largest peak-to-trough decline	-5.08%	-35.35%	+30.27%
Max Drawdown (1Y) Largest decline over 1 year	-5.08%	-9.21%	+4.13%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.01%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.46%	—
Current Drawdown Current decline from peak	-0.75%	-0.83%	+0.08%
Average Drawdown Average peak-to-trough decline	-0.78%	-5.40%	+4.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.13%	—

Volatility

SPXM vs. BBUS - Volatility Comparison

The current volatility for Azoria 500 Meritocracy ETF (SPXM) is 0.00%, while JPMorgan BetaBuilders U.S. Equity ETF (BBUS) has a volatility of 3.78%. This indicates that SPXM experiences smaller price fluctuations and is considered to be less risky than BBUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPXM	BBUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	3.78%	-3.78%
Volatility (6M) Calculated over the trailing 6-month period	3.96%	10.01%	-6.05%
Volatility (1Y) Calculated over the trailing 1-year period	7.66%	12.57%	-4.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.63%	17.15%	-9.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.63%	19.54%	-11.91%

SPXM vs. BBUS - Expense Ratio Comparison

SPXM has a 0.47% expense ratio, which is higher than BBUS's 0.02% expense ratio.

Dividends

SPXM vs. BBUS - Dividend Comparison

SPXM's dividend yield for the trailing twelve months is around 0.24%, less than BBUS's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BBUS JPMorgan BetaBuilders U.S. Equity ETF	1.01%	1.07%	1.21%	1.38%	1.57%	1.11%	1.43%	1.37%
SPXM Azoria 500 Meritocracy ETF	0.24%	0.24%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPXM and BBUS in my portfolio?

SPXM and BBUS have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPXM or BBUS?

BBUS has higher volatility (3.78%) compared to SPXM (0.00%). In terms of maximum drawdown, SPXM dropped -5.08% vs BBUS's -35.35%.

Which ETF is better, SPXM or BBUS?

On 1-year performance, BBUS leads with 21.17% vs 8.61% for SPXM. On fees, BBUS is cheaper at 0.02% per year. On volatility, SPXM has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPXM or BBUS?

Over the 1-year period, BBUS has performed better with a 21.17% return vs 8.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPXM or BBUS?

BBUS is cheaper with a 0.02% expense ratio, compared with 0.47% for SPXM.

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

BBUS has the higher dividend yield at 1.01%, compared with 0.24% for SPXM.

What is the main difference between SPXM and BBUS?

They also come from different issuers: Azoria and JPMorgan. Their fees differ too: 0.47% for SPXM and 0.02% for BBUS.

Which has better risk-adjusted returns?

BBUS currently has the higher Sharpe Ratio (1.69 vs 1.38), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.