SPXM vs. TEXN

Last updated Apr 2, 2026

Compare and contrast key facts about Azoria 500 Meritocracy ETF (SPXM) and iShares Texas Equity ETF (TEXN).

SPXM and TEXN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPXM is an actively managed fund by Azoria. It was launched on Jul 7, 2025. TEXN is a passively managed fund by iShares that tracks the performance of the Russell Texas Equity Index. It was launched on Jun 23, 2025.

Performance

SPXM vs. TEXN - Performance Comparison

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

SPXM vs. TEXN - Yearly Performance Comparison

	2026 (YTD)	2025
SPXM Azoria 500 Meritocracy ETF	0.00%	9.16%
TEXN iShares Texas Equity ETF	11.72%	6.58%

Returns By Period

SPXM

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 1.63%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TEXN

• 1D: -0.84%
• 1M: -1.07%
• YTD: 11.72%
• 6M: 8.92%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPXM vs. TEXN - Expense Ratio Comparison

SPXM has a 0.47% expense ratio, which is higher than TEXN's 0.20% expense ratio.

SPXM

Azoria 500 Meritocracy ETF

TEXN

iShares Texas Equity ETF

Return for Risk

SPXM vs. TEXN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Azoria 500 Meritocracy ETF (SPXM) and iShares Texas Equity ETF (TEXN). 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	TEXN	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.82	1.89	-0.06

Correlation

The correlation between SPXM and TEXN is 0.44, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

SPXM vs. TEXN - Dividend Comparison

SPXM's dividend yield for the trailing twelve months is around 0.24%, less than TEXN's 1.14% yield.

	TTM	2025
SPXM Azoria 500 Meritocracy ETF	0.24%	0.24%
TEXN iShares Texas Equity ETF	1.14%	0.86%

Drawdowns

SPXM vs. TEXN - Drawdown Comparison

The maximum SPXM drawdown since its inception was -5.08%, smaller than the maximum TEXN drawdown of -6.34%. Use the drawdown chart below to compare losses from any high point for SPXM and TEXN.

Drawdown Indicators

	SPXM	TEXN	Difference
Max Drawdown Largest peak-to-trough decline	-5.08%	-6.34%	+1.26%
Current Drawdown Current decline from peak	-0.75%	-1.37%	+0.62%
Average Drawdown Average peak-to-trough decline	-0.80%	-1.27%	+0.47%

Volatility

Volatility by Period

	SPXM	TEXN	Difference
Volatility (1Y) Calculated over the trailing 1-year period	9.34%	14.82%	-5.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.34%	14.82%	-5.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.34%	14.82%	-5.48%