TMFE vs. SPXM

Last updated Jul 17, 2026

TMFE (The RBB Fund, Inc. - Motley Fool High Capital Efficiency Index ETF) and SPXM (Azoria 500 Meritocracy ETF) are both Large Cap Blend Equities funds. TMFE is passively managed, while SPXM is actively managed. Over the past year, TMFE returned 10.30% vs 8.72% for SPXM. At a 0.48 correlation, their price movements are largely independent. TMFE charges 0.50%/yr vs 0.47%/yr for SPXM.

Performance

TMFE vs. SPXM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in The RBB Fund, Inc. - Motley Fool High Capital Efficiency Index ETF (TMFE) and Azoria 500 Meritocracy ETF (SPXM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TMFE

• 1D: 0.68%
• 1M: 2.48%
• 6M: 4.18%
• YTD: 4.45%
• 1Y: 10.30%
• 3Y*: 17.31%
• 5Y*: —
• 10Y*: —

SPXM

• 1D: 0.00%
• 1M: 0.00%
• 6M: 0.00%
• YTD: 0.00%
• 1Y: 8.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TMFE vs. SPXM - Yearly Performance Comparison

	2026 (YTD)	2025
TMFE The RBB Fund, Inc. - Motley Fool High Capital Efficiency Index ETF	4.45%	3.88%
SPXM Azoria 500 Meritocracy ETF	0.00%	9.27%

Correlation

The correlation between TMFE and SPXM is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (All Time) Calculated using the full available price history since Jul 8, 2025	0.48

Return for Risk

TMFE vs. SPXM — Risk / Return Rank

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

TMFE

TMFE Risk / Return Rank: 26
TMFE Sharpe Ratio Rank: 27
TMFE Sortino Ratio Rank: 27
TMFE Omega Ratio Rank: 25
TMFE Calmar Ratio Rank: 24
TMFE Martin Ratio Rank: 30

SPXM

SPXM Risk / Return Rank: 60
SPXM Sharpe Ratio Rank: 50
SPXM Sortino Ratio Rank: 48
SPXM Omega Ratio Rank: 82
SPXM Calmar Ratio Rank: 52
SPXM Martin Ratio Rank: 69

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.

TMFE vs. SPXM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The RBB Fund, Inc. - Motley Fool High Capital Efficiency Index ETF (TMFE) 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.

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.

	TMFE	SPXM	Difference
Sharpe ratio: Return per unit of total volatility	0.83	1.40	-0.58
Sortino ratio: Return per unit of downside risk	1.22	1.98	-0.76
Omega ratio: Gain probability vs. loss probability	1.15	1.39	-0.24
Calmar ratio: Return relative to maximum drawdown	0.92	2.11	-1.20
Martin ratio: Return relative to average drawdown	3.34	9.87	-6.54

TMFE vs. SPXM - Sharpe Ratio Comparison

The current TMFE Sharpe Ratio is 0.83, which is lower than the SPXM Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of TMFE and SPXM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TMFE vs. SPXM - Drawdown Comparison

The maximum TMFE drawdown since its inception was -31.21%, which is greater than SPXM's maximum drawdown of -5.08%. Use the drawdown chart below to compare losses from any high point for TMFE and SPXM.

Drawdown Indicators

	TMFE	SPXM	Difference
Max Drawdown Largest peak-to-trough decline	-31.21%	-5.08%	-26.13%
Max Drawdown (1Y) Largest decline over 1 year	-11.30%	-5.08%	-6.22%
Max Drawdown (3Y) Largest decline over 3 years	-18.81%	—	—
Current Drawdown Current decline from peak	0.00%	-0.75%	+0.75%
Average Drawdown Average peak-to-trough decline	-8.18%	-0.78%	-7.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.09%	—	—

Volatility

TMFE vs. SPXM - Volatility Comparison

The RBB Fund, Inc. - Motley Fool High Capital Efficiency Index ETF (TMFE) has a higher volatility of 3.90% compared to Azoria 500 Meritocracy ETF (SPXM) at 0.00%. This indicates that TMFE's price experiences larger fluctuations and is considered to be riskier than SPXM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TMFE	SPXM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.90%	0.00%	+3.90%
Volatility (6M) Calculated over the trailing 6-month period	10.00%	3.78%	+6.22%
Volatility (1Y) Calculated over the trailing 1-year period	12.53%	7.65%	+4.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.14%	7.59%	+11.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.14%	7.59%	+11.55%

TMFE vs. SPXM - Expense Ratio Comparison

TMFE has a 0.50% expense ratio, which is higher than SPXM's 0.47% expense ratio.

Dividends

TMFE vs. SPXM - Dividend Comparison

TMFE's dividend yield for the trailing twelve months is around 0.31%, more than SPXM's 0.24% yield.

Position	TTM	2025	2024	2023	2022
SPXM Azoria 500 Meritocracy ETF	0.24%	0.24%	0.00%	0.00%	0.00%
TMFE The RBB Fund, Inc. - Motley Fool High Capital Efficiency Index ETF	0.31%	0.32%	0.44%	0.45%	0.40%

Frequently Asked Questions

Can I hold both TMFE and SPXM in my portfolio?

TMFE and SPXM have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TMFE or SPXM?

TMFE has higher volatility (3.90%) compared to SPXM (0.00%). In terms of maximum drawdown, TMFE dropped -31.21% vs SPXM's -5.08%.

Which ETF is better, TMFE or SPXM?

On 1-year performance, TMFE leads with 10.30% vs 8.72% for SPXM. On fees, SPXM is cheaper at 0.47% per year. On volatility, SPXM has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TMFE or SPXM?

Over the 1-year period, TMFE has performed better with a 10.30% return vs 8.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TMFE or SPXM?

SPXM is cheaper with a 0.47% expense ratio, compared with 0.50% for TMFE.

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

TMFE has the higher dividend yield at 0.31%, compared with 0.24% for SPXM.

What is the main difference between TMFE and SPXM?

They also come from different issuers: RBB Fund and Azoria. Their fees differ too: 0.50% for TMFE and 0.47% for SPXM.

Which has better risk-adjusted returns?

SPXM currently has the higher Sharpe Ratio (1.40 vs 0.83), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.