SPXM vs. EVSB

Last updated Jun 4, 2026

SPXM (Azoria 500 Meritocracy ETF) and EVSB (Eaton Vance Ultra-Short Income ETF) are both exchange-traded funds - SPXM is a Large Cap Blend Equities fund actively managed by Azoria, while EVSB is a Ultrashort Bond fund actively managed by Eaton Vance. Both are actively managed. At a correlation of -0.12, they often move in opposite directions. SPXM charges 0.47%/yr vs 0.17%/yr for EVSB.

Performance

SPXM vs. EVSB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Azoria 500 Meritocracy ETF (SPXM) and Eaton Vance Ultra-Short Income ETF (EVSB). 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*: —

EVSB

• 1D: -0.01%
• 1M: 0.40%
• YTD: 1.66%
• 6M: 2.00%
• 1Y: 4.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPXM vs. EVSB - Yearly Performance Comparison

	2026 (YTD)	2025
SPXM Azoria 500 Meritocracy ETF	0.00%	9.16%
EVSB Eaton Vance Ultra-Short Income ETF	1.66%	2.50%

Correlation

The correlation between SPXM and EVSB is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025	-0.12

Return for Risk

SPXM vs. EVSB — Risk / Return Rank

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

EVSB

EVSB Risk / Return Rank: 99
EVSB Sharpe Ratio Rank: 98
EVSB Sortino Ratio Rank: 99
EVSB Omega Ratio Rank: 99
EVSB Calmar Ratio Rank: 98
EVSB Martin Ratio Rank: 99

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. EVSB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Azoria 500 Meritocracy ETF (SPXM) and Eaton Vance Ultra-Short Income ETF (EVSB). 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	EVSB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	6.11	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.56	6.94	-5.38

Drawdowns

SPXM vs. EVSB - Drawdown Comparison

The maximum SPXM drawdown since its inception was -5.08%, which is greater than EVSB's maximum drawdown of -0.31%. Use the drawdown chart below to compare losses from any high point for SPXM and EVSB.

Drawdown Indicators

	SPXM	EVSB	Difference
Max Drawdown Largest peak-to-trough decline	-5.08%	-0.31%	-4.77%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.25%	—
Current Drawdown Current decline from peak	-0.75%	-0.05%	-0.70%
Average Drawdown Average peak-to-trough decline	-0.79%	-0.02%	-0.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.04%	—

Volatility

Volatility by Period

	SPXM	EVSB	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.19%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.51%	—
Volatility (1Y) Calculated over the trailing 1-year period	8.18%	0.77%	+7.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.18%	0.82%	+7.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.18%	0.82%	+7.36%

SPXM vs. EVSB - Expense Ratio Comparison

SPXM has a 0.47% expense ratio, which is higher than EVSB's 0.17% expense ratio.

Dividends

SPXM vs. EVSB - Dividend Comparison

SPXM's dividend yield for the trailing twelve months is around 0.24%, less than EVSB's 4.63% yield.

Position	TTM	2025	2024	2023
EVSB Eaton Vance Ultra-Short Income ETF	4.63%	4.63%	5.18%	1.21%
SPXM Azoria 500 Meritocracy ETF	0.24%	0.24%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPXM and EVSB in my portfolio?

SPXM and EVSB have a correlation of -0.12, 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 EVSB?

On fees, EVSB is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPXM or EVSB?

EVSB is cheaper with a 0.17% expense ratio, compared with 0.47% for SPXM.

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

EVSB has the higher dividend yield at 4.63%, compared with 0.24% for SPXM.

What is the main difference between SPXM and EVSB?

SPXM is categorized as Large Cap Blend Equities, while EVSB is Ultrashort Bond. They also come from different issuers: Azoria and Eaton Vance. Their fees differ too: 0.47% for SPXM and 0.17% for EVSB.