TOS vs. SPXM

Last updated Jul 18, 2026

TOS (Twin Oak Strategic Solutions ETF) and SPXM (Azoria 500 Meritocracy ETF) are both Large Cap Blend Equities funds. Both are actively managed. TOS charges 0.76%/yr vs 0.47%/yr for SPXM.

Performance

TOS vs. SPXM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Twin Oak Strategic Solutions ETF (TOS) and Azoria 500 Meritocracy ETF (SPXM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TOS

• 1D: -2.01%
• 1M: -7.26%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPXM

• 1D: 0.00%
• 1M: 0.00%
• 6M: 0.00%
• YTD: 0.00%
• 1Y: 8.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TOS vs. SPXM - Yearly Performance Comparison

	2026 (YTD)
TOS Twin Oak Strategic Solutions ETF	11.45%
SPXM Azoria 500 Meritocracy ETF	0.00%

Return for Risk

TOS vs. SPXM — Risk / Return Rank

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

TOS

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

SPXM

SPXM Risk / Return Rank: 58
SPXM Sharpe Ratio Rank: 47
SPXM Sortino Ratio Rank: 46
SPXM Omega Ratio Rank: 80
SPXM Calmar Ratio Rank: 49
SPXM Martin Ratio Rank: 67

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.

TOS vs. SPXM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Twin Oak Strategic Solutions ETF (TOS) 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.

	TOS	SPXM	Difference
Sharpe ratio: Return per unit of total volatility	—	1.31	—
Sortino ratio: Return per unit of downside risk	—	1.86	—
Omega ratio: Gain probability vs. loss probability	—	1.36	—
Calmar ratio: Return relative to maximum drawdown	—	1.97	—
Martin ratio: Return relative to average drawdown	—	9.19	—

Drawdowns

TOS vs. SPXM - Drawdown Comparison

The maximum TOS drawdown since its inception was -11.72%, which is greater than SPXM's maximum drawdown of -5.08%. Use the drawdown chart below to compare losses from any high point for TOS and SPXM.

Drawdown Indicators

	TOS	SPXM	Difference
Max Drawdown Largest peak-to-trough decline	-11.72%	-5.08%	-6.64%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.08%	—
Current Drawdown Current decline from peak	-9.11%	-0.75%	-8.36%
Average Drawdown Average peak-to-trough decline	-2.77%	-0.78%	-1.99%

Volatility

Volatility by Period

	TOS	SPXM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.00%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.42%	—
Volatility (1Y) Calculated over the trailing 1-year period	27.00%	7.65%	+19.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.00%	7.57%	+19.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.00%	7.57%	+19.43%

TOS vs. SPXM - Expense Ratio Comparison

TOS has a 0.76% expense ratio, which is higher than SPXM's 0.47% expense ratio.

Dividends

TOS vs. SPXM - Dividend Comparison

TOS has not paid dividends to shareholders, while SPXM's dividend yield for the trailing twelve months is around 0.24%.

Position	TTM	2025
SPXM Azoria 500 Meritocracy ETF	0.24%	0.24%
TOS Twin Oak Strategic Solutions ETF	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, TOS 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, TOS or SPXM?

SPXM is cheaper with a 0.47% expense ratio, compared with 0.76% for TOS.

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

SPXM has the higher dividend yield at 0.24%, compared with 0.00% for TOS.

What is the main difference between TOS and SPXM?

They also come from different issuers: Twin Oak ETF Company and Azoria. Their fees differ too: 0.76% for TOS and 0.47% for SPXM.