XMAG vs. SPXM

Last updated Jun 26, 2026

XMAG (Defiance Large Cap ex-Mag 7 ETF) and SPXM (Azoria 500 Meritocracy ETF) are both Large Cap Blend Equities funds. XMAG is passively managed, while SPXM is actively managed. At a 0.48 correlation, their price movements are largely independent. XMAG charges 0.35%/yr vs 0.47%/yr for SPXM.

Performance

XMAG vs. SPXM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Large Cap ex-Mag 7 ETF (XMAG) and Azoria 500 Meritocracy ETF (SPXM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

XMAG

• 1D: 1.18%
• 1M: 3.37%
• YTD: 14.15%
• 6M: 13.13%
• 1Y: 24.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPXM

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

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

XMAG vs. SPXM - Yearly Performance Comparison

	2026 (YTD)	2025
XMAG Defiance Large Cap ex-Mag 7 ETF	14.15%	6.36%
SPXM Azoria 500 Meritocracy ETF	0.00%	9.27%

Correlation

The correlation between XMAG and SPXM is 0.48, 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 8, 2025	0.48

Return for Risk

XMAG vs. SPXM — Risk / Return Rank

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

XMAG

XMAG Risk / Return Rank: 78
XMAG Sharpe Ratio Rank: 77
XMAG Sortino Ratio Rank: 78
XMAG Omega Ratio Rank: 73
XMAG Calmar Ratio Rank: 76
XMAG Martin Ratio Rank: 84

SPXM

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

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.

XMAG vs. SPXM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Large Cap ex-Mag 7 ETF (XMAG) 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.

	XMAG	SPXM	Difference
Sharpe ratio: Return per unit of total volatility	2.12	—	—
Sortino ratio: Return per unit of downside risk	3.01	—	—
Omega ratio: Gain probability vs. loss probability	1.37	—	—
Calmar ratio: Return relative to maximum drawdown	3.38	—	—
Martin ratio: Return relative to average drawdown	14.86	—	—

Drawdowns

XMAG vs. SPXM - Drawdown Comparison

The maximum XMAG drawdown since its inception was -16.17%, which is greater than SPXM's maximum drawdown of -5.08%. Use the drawdown chart below to compare losses from any high point for XMAG and SPXM.

Drawdown Indicators

	XMAG	SPXM	Difference
Max Drawdown Largest peak-to-trough decline	-16.17%	-5.08%	-11.09%
Max Drawdown (1Y) Largest decline over 1 year	-7.29%	—	—
Current Drawdown Current decline from peak	0.00%	-0.75%	+0.75%
Average Drawdown Average peak-to-trough decline	-2.08%	-0.78%	-1.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.66%	—	—

Volatility

Volatility by Period

	XMAG	SPXM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.44%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.25%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	11.67%	7.85%	+3.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.18%	7.85%	+7.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.18%	7.85%	+7.33%

XMAG vs. SPXM - Expense Ratio Comparison

XMAG has a 0.35% expense ratio, which is lower than SPXM's 0.47% expense ratio.

Dividends

XMAG vs. SPXM - Dividend Comparison

XMAG's dividend yield for the trailing twelve months is around 0.45%, more than SPXM's 0.24% yield.

Position	TTM	2025	2024
SPXM Azoria 500 Meritocracy ETF	0.24%	0.24%	0.00%
XMAG Defiance Large Cap ex-Mag 7 ETF	0.45%	0.51%	0.24%

Frequently Asked Questions

Can I hold both XMAG and SPXM in my portfolio?

XMAG 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 ETF is better, XMAG or SPXM?

On fees, XMAG is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XMAG or SPXM?

XMAG is cheaper with a 0.35% expense ratio, compared with 0.47% for SPXM.

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

XMAG has the higher dividend yield at 0.45%, compared with 0.24% for SPXM.

What is the main difference between XMAG and SPXM?

They also come from different issuers: Defiance and Azoria. Their fees differ too: 0.35% for XMAG and 0.47% for SPXM.