WCAP vs. SPXM
WCAP (WarCap Unconstrained Equity ETF) and SPXM (Azoria 500 Meritocracy ETF) are both Large Cap Blend Equities funds. Both are actively managed. Their 0.34 correlation means their historical movements had little consistent relationship. WCAP charges 1.00%/yr vs 0.47%/yr for SPXM.
Performance
WCAP vs. SPXM - Performance Comparison
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Returns By Period
WCAP
- 1D
- -1.71%
- 1M
- -6.43%
- 6M
- -8.96%
- YTD
- -10.09%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
SPXM
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 0.00%
- YTD
- 0.00%
- 1Y
- 6.76%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 8.75%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $192.07K | $142.51K | $80.15K |
WCAP vs. SPXM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
WCAP WarCap Unconstrained Equity ETF | -10.09% | -2.03% |
SPXM Azoria 500 Meritocracy ETF | 0.00% | 3.98% |
Correlation
The correlation between WCAP and SPXM is 0.34, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 11, 2025 | 0.34 |
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Return for Risk
WCAP vs. SPXM — Risk / Return Rank
WCAP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SPXM
WCAP vs. SPXM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WarCap Unconstrained Equity ETF (WCAP) 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.
| WCAP | SPXM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.31 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.63 | — |
| Martin ratioReturn relative to average drawdown | — | 7.62 | — |
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Drawdowns
WCAP vs. SPXM - Drawdown Comparison
The maximum WCAP drawdown since its inception was -15.90%, which is greater than SPXM's maximum drawdown of -5.08%. Use the drawdown chart below to compare losses from any high point for WCAP and SPXM.
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Drawdown Indicators
| WCAP | SPXM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.90% | -5.08% | -10.82% |
Max Drawdown (1Y)Largest decline over 1 year | — | -5.08% | — |
Current DrawdownCurrent decline from peak | -13.15% | -0.75% | -12.40% |
Average DrawdownAverage peak-to-trough decline | -7.19% | -0.78% | -6.41% |
Volatility
WCAP vs. SPXM - Volatility Comparison
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Volatility by Period
| WCAP | SPXM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.00% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.28% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 16.00% | 7.58% | +8.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.00% | 7.44% | +8.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.00% | 7.44% | +8.56% |
WCAP vs. SPXM - Expense Ratio Comparison
WCAP has a 1.00% expense ratio, which is higher than SPXM's 0.47% expense ratio.
Dividends
WCAP vs. SPXM - Dividend Comparison
WCAP's dividend yield for the trailing twelve months is around 0.04%, less than SPXM's 0.24% yield.
| Position | TTM | 2025 |
|---|---|---|
SPXM Azoria 500 Meritocracy ETF | 0.24% | 0.24% |
WCAP WarCap Unconstrained Equity ETF | 0.04% | 0.04% |
Frequently Asked Questions
WCAP and SPXM have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
SPXM is cheaper with a 0.47% expense ratio, compared with 1.00% for WCAP.
SPXM has the higher dividend yield at 0.24%, compared with 0.04% for WCAP.
They also come from different issuers: WarCap and Azoria. Their fees differ too: 1.00% for WCAP and 0.47% for SPXM.
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