SUPP vs. SPXM

Last updated Jun 4, 2026

SUPP (TCW Transform Supply Chain ETF) and SPXM (Azoria 500 Meritocracy ETF) are both Large Cap Blend Equities funds. Both are actively managed. At a 0.38 correlation, their price movements are largely independent. SUPP charges 0.75%/yr vs 0.47%/yr for SPXM.

Performance

SUPP vs. SPXM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TCW Transform Supply Chain ETF (SUPP) and Azoria 500 Meritocracy ETF (SPXM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SUPP

• 1D: -0.15%
• 1M: 6.38%
• YTD: 21.37%
• 6M: 18.97%
• 1Y: 32.28%
• 3Y*: 19.34%
• 5Y*: —
• 10Y*: —

SPXM

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

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

SUPP vs. SPXM - Yearly Performance Comparison

	2026 (YTD)	2025
SUPP TCW Transform Supply Chain ETF	21.37%	4.16%
SPXM Azoria 500 Meritocracy ETF	0.00%	9.16%

Correlation

The correlation between SUPP and SPXM is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025	0.38

Return for Risk

SUPP vs. SPXM — Risk / Return Rank

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

SUPP

SUPP Risk / Return Rank: 50
SUPP Sharpe Ratio Rank: 49
SUPP Sortino Ratio Rank: 49
SUPP Omega Ratio Rank: 47
SUPP Calmar Ratio Rank: 49
SUPP Martin Ratio Rank: 57

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.

SUPP vs. SPXM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW Transform Supply Chain ETF (SUPP) and Azoria 500 Meritocracy ETF (SPXM). 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.

	SUPP	SPXM	Difference
Sharpe ratio: Return per unit of total volatility	1.68	—	—
Sortino ratio: Return per unit of downside risk	2.38	—	—
Omega ratio: Gain probability vs. loss probability	1.30	—	—
Calmar ratio: Return relative to maximum drawdown	2.39	—	—
Martin ratio: Return relative to average drawdown	9.82	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SUPP	SPXM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.68	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.89	1.56	-0.67

Drawdowns

SUPP vs. SPXM - Drawdown Comparison

The maximum SUPP drawdown since its inception was -25.03%, which is greater than SPXM's maximum drawdown of -5.08%. Use the drawdown chart below to compare losses from any high point for SUPP and SPXM.

Drawdown Indicators

	SUPP	SPXM	Difference
Max Drawdown Largest peak-to-trough decline	-25.03%	-5.08%	-19.95%
Max Drawdown (1Y) Largest decline over 1 year	-13.59%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-25.03%	—	—
Current Drawdown Current decline from peak	-0.15%	-0.75%	+0.60%
Average Drawdown Average peak-to-trough decline	-4.41%	-0.79%	-3.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.29%	—	—

Volatility

Volatility by Period

	SUPP	SPXM	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.15%	—	—
Volatility (6M) Calculated over the trailing 6-month period	16.42%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	19.38%	8.18%	+11.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.44%	8.18%	+11.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.44%	8.18%	+11.26%

SUPP vs. SPXM - Expense Ratio Comparison

SUPP has a 0.75% expense ratio, which is higher than SPXM's 0.47% expense ratio.

Dividends

SUPP vs. SPXM - Dividend Comparison

SUPP's dividend yield for the trailing twelve months is around 0.29%, more than SPXM's 0.24% yield.

Position	TTM	2025	2024	2023
SPXM Azoria 500 Meritocracy ETF	0.24%	0.24%	0.00%	0.00%
SUPP TCW Transform Supply Chain ETF	0.29%	0.35%	0.49%	0.45%

Frequently Asked Questions

Can I hold both SUPP and SPXM in my portfolio?

SUPP and SPXM have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SUPP or SPXM?

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, SUPP or SPXM?

SPXM is cheaper with a 0.47% expense ratio, compared with 0.75% for SUPP.

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

SUPP has the higher dividend yield at 0.29%, compared with 0.24% for SPXM.

What is the main difference between SUPP and SPXM?

They also come from different issuers: TCW and Azoria. Their fees differ too: 0.75% for SUPP and 0.47% for SPXM.