SPXM vs. BUFX

Last updated Jun 4, 2026

SPXM (Azoria 500 Meritocracy ETF) and BUFX (FT Vest Laddered Enhance & Moderate Buffer ETF) are both exchange-traded funds - SPXM is a Large Cap Blend Equities fund actively managed by Azoria, while BUFX is a Defined Outcome fund managed by First Trust. A 0.51 correlation means they provide meaningful diversification when combined. SPXM charges 0.47%/yr vs 0.96%/yr for BUFX.

Performance

SPXM vs. BUFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Azoria 500 Meritocracy ETF (SPXM) and FT Vest Laddered Enhance & Moderate Buffer ETF (BUFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SPXM

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

BUFX

• 1D: -0.05%
• 1M: 1.35%
• YTD: 4.10%
• 6M: 4.88%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPXM vs. BUFX - Yearly Performance Comparison

	2026 (YTD)	2025
SPXM Azoria 500 Meritocracy ETF	0.00%	9.16%
BUFX FT Vest Laddered Enhance & Moderate Buffer ETF	4.10%	4.89%

Correlation

The correlation between SPXM and BUFX is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025	0.51

Return for Risk

SPXM vs. BUFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Azoria 500 Meritocracy ETF (SPXM) and FT Vest Laddered Enhance & Moderate Buffer ETF (BUFX). 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

	SPXM	BUFX	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.56	2.68	-1.12

Drawdowns

SPXM vs. BUFX - Drawdown Comparison

The maximum SPXM drawdown since its inception was -5.08%, which is greater than BUFX's maximum drawdown of -2.87%. Use the drawdown chart below to compare losses from any high point for SPXM and BUFX.

Drawdown Indicators

	SPXM	BUFX	Difference
Max Drawdown Largest peak-to-trough decline	-5.08%	-2.87%	-2.21%
Current Drawdown Current decline from peak	-0.75%	-0.07%	-0.68%
Average Drawdown Average peak-to-trough decline	-0.79%	-0.24%	-0.55%

Volatility

Volatility by Period

	SPXM	BUFX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	8.18%	3.98%	+4.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.18%	3.98%	+4.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.18%	3.98%	+4.20%

SPXM vs. BUFX - Expense Ratio Comparison

SPXM has a 0.47% expense ratio, which is lower than BUFX's 0.96% expense ratio.

Dividends

SPXM vs. BUFX - Dividend Comparison

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

Position	TTM	2025
BUFX FT Vest Laddered Enhance & Moderate Buffer ETF	0.00%	0.00%
SPXM Azoria 500 Meritocracy ETF	0.24%	0.24%

Frequently Asked Questions

Can I hold both SPXM and BUFX in my portfolio?

SPXM and BUFX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPXM or BUFX?

On fees, SPXM is cheaper at 0.47% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPXM or BUFX?

SPXM is cheaper with a 0.47% expense ratio, compared with 0.96% for BUFX.

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

SPXM has the higher dividend yield at 0.24%, compared with 0.00% for BUFX.

What is the main difference between SPXM and BUFX?

SPXM is categorized as Large Cap Blend Equities, while BUFX is Defined Outcome. They also come from different issuers: Azoria and First Trust. Their fees differ too: 0.47% for SPXM and 0.96% for BUFX.