Key stats
About Azoria 500 Meritocracy ETF
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Inception date
Jul 8, 2025
Structure
Open-Ended Fund
Replication method
Physical
Dividend treatment
Distributes
Distribution tax treatment
Qualified dividends
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Tidal Investments LLC
Distributor
Foreside Fund Services LLC
ISIN
US45259A4159
SPXM seeks long-term capital appreciation by investing in 400500 US large-cap companies, excluding firms with publicly disclosed DE&I hiring policies. The fund strategy runs on the premise that firms hiring based on skill and ability, without explicit quantitative demographic hiring targets, will outperform those hiring based on race and gender. Using a proprietary research methodology, the fund reviews public filings (e.g., 10-Ks, ESG reports, diversity statements, corporate social responsibility reports) to identify and exclude companies with DE&I hiring policies. The fund may also verify the accuracy of public disclosures by contacting investor relations when possible. The market cap-weighted portfolio is monitored on an ongoing basis, with quarterly reviews and reallocation. As an actively managed ETF, the fund manager has full discretion to adjust the portfolio at any time, including in response to market developments, liquidity, and other factors.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Electronic Technology
Technology Services
Finance
Stocks99.48%
Electronic Technology21.86%
Technology Services21.47%
Finance14.64%
Retail Trade9.15%
Health Technology7.11%
Consumer Durables4.25%
Consumer Services3.06%
Producer Manufacturing2.93%
Consumer Non-Durables2.65%
Energy Minerals2.27%
Utilities2.16%
Commercial Services1.86%
Transportation1.22%
Health Services1.20%
Communications1.12%
Process Industries0.69%
Industrial Services0.66%
Distribution Services0.58%
Non-Energy Minerals0.44%
Miscellaneous0.18%
Bonds, Cash & Other0.52%
Mutual fund0.48%
Cash0.04%
Stock breakdown by region
North America98.53%
Europe1.47%
Latin America0.00%
Asia0.00%
Africa0.00%
Middle East0.00%
Oceania0.00%
Top 10 holdings
Dividends
Dividend payout history
Assets under management (AUM)
Fund Flows
Frequently Asked Questions
SPXM invests in stocks. The fund's major sectors are Electronic Technology, with 21.86% stocks, and Technology Services, with 21.47% of the basket. The assets are mostly located in the North America region.
SPXM top holdings are NVIDIA Corporation and Microsoft Corporation, occupying 6.94% and 6.23% of the portfolio correspondingly.
SPXM assets under management is 33.52 M USD. It's fallen 0.97% over the last month.
SPXM fund flows account for 31.76 M USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
Yes, SPXM pays dividends to its holders with the dividend yield of 0.97%. The last dividend (Aug 29, 2025) amounted to 0.02 USD. The dividends are paid monthly.
SPXM shares are issued by Toroso Investments Topco LLC under the brand Azoria. The ETF was launched on Jul 8, 2025, and its management style is Active.
SPXM expense ratio is 0.47% meaning you'd have to pay 0.47% of your investment to help manage the fund.
SPXM follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
SPXM invests in stocks.
SPXM trades at a premium (0.06%) meaning the ETF is trading at a higher price than the calculated NAV.