SPXM vs. GXLC

Last updated Aug 4, 2026

SPXM (Azoria 500 Meritocracy ETF) and GXLC (Global X U.S. 500 ETF) are both Large Cap Blend Equities funds. SPXM is actively managed, while GXLC is passively managed. Their 0.39 correlation means their historical movements had little consistent relationship. SPXM charges 0.47%/yr vs 0.02%/yr for GXLC.

Performance

SPXM vs. GXLC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Azoria 500 Meritocracy ETF (SPXM) and Global X U.S. 500 ETF (GXLC). 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: 8.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.63%

GXLC

• 1D: 1.34%
• 1M: 1.54%
• 6M: 9.67%
• YTD: 11.54%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GXLC Global X U.S. 500 ETF	$25.69K	$21.89K	$18.29K
SPXM Azoria 500 Meritocracy ETF	$0.00	$0.00	$0.00

SPXM vs. GXLC - Yearly Performance Comparison

	2026 (YTD)	2025
SPXM Azoria 500 Meritocracy ETF	0.00%	2.22%
GXLC Global X U.S. 500 ETF	11.54%	3.22%

Correlation

The correlation between SPXM and GXLC is 0.39, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 24, 2025	0.39

Return for Risk

SPXM vs. GXLC — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SPXM

SPXM Risk / Return Rank: 68
SPXM Sharpe Ratio Rank: 59
SPXM Sortino Ratio Rank: 59
SPXM Omega Ratio Rank: 90
SPXM Calmar Ratio Rank: 57
SPXM Martin Ratio Rank: 75

GXLC

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SPXM vs. GXLC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Azoria 500 Meritocracy ETF (SPXM) and Global X U.S. 500 ETF (GXLC). 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	GXLC	Difference
Sharpe ratio: Return per unit of total volatility	1.49	—	—
Sortino ratio: Return per unit of downside risk	2.14	—	—
Omega ratio: Gain probability vs. loss probability	1.44	—	—
Calmar ratio: Return relative to maximum drawdown	2.16	—	—
Martin ratio: Return relative to average drawdown	10.12	—	—

Drawdowns

SPXM vs. GXLC - Drawdown Comparison

The maximum SPXM drawdown since its inception was -5.08%, smaller than the maximum GXLC drawdown of -9.08%. Use the drawdown chart below to compare losses from any high point for SPXM and GXLC.

Drawdown Indicators

	SPXM	GXLC	Difference
Max Drawdown Largest peak-to-trough decline	-5.08%	-9.08%	+4.00%
Max Drawdown (1Y) Largest decline over 1 year	-5.08%	—	—
Current Drawdown Current decline from peak	-0.75%	-0.16%	-0.59%
Average Drawdown Average peak-to-trough decline	-0.78%	-1.57%	+0.79%

Volatility

Volatility by Period

	SPXM	GXLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.22%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.38%	13.64%	-6.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.39%	13.64%	-6.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.39%	13.64%	-6.25%

SPXM vs. GXLC - Expense Ratio Comparison

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

Dividends

SPXM vs. GXLC - Dividend Comparison

SPXM's dividend yield for the trailing twelve months is around 0.24%, less than GXLC's 0.63% yield.

Position	TTM	2025
GXLC Global X U.S. 500 ETF	0.63%	0.30%
SPXM Azoria 500 Meritocracy ETF	0.24%	0.24%

Frequently Asked Questions

Can I hold both SPXM and GXLC in my portfolio?

SPXM and GXLC have a correlation of 0.39, 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 GXLC?

On fees, GXLC is cheaper at 0.02% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPXM or GXLC?

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

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

GXLC has the higher dividend yield at 0.63%, compared with 0.24% for SPXM.

What is the main difference between SPXM and GXLC?

They also come from different issuers: Azoria and Global X. Their fees differ too: 0.47% for SPXM and 0.02% for GXLC.