- Issuer
- First Trust
- Inception Date
- Apr 6, 2020
- Region
- North America (U.S.)
- Category
- Small Cap Blend Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Multi-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $34M
Share Price Chart
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Performance
HSMV Performance Chart
First Trust Horizon Managed Volatility Small/Mid ETF (HSMV) is up 5.4% since the beginning of the year. HSMV is currently trading at $37 per share. Investors who bought $1,000 worth of HSMV shares 5 years ago would now be looking at an investment worth $1,250.
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Returns By Period
First Trust Horizon Managed Volatility Small/Mid ETF (HSMV) has returned 5.35% so far this year and 7.28% over the past 12 months.
First Trust Horizon Managed Volatility Small/Mid ETF
- 1D
- 0.15%
- 1M
- 0.17%
- YTD
- 5.35%
- 6M
- 4.27%
- 1Y
- 7.28%
- 3Y*
- 9.56%
- 5Y*
- 4.56%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
HSMV Monthly Returns History
Based on dividend-adjusted daily data since Apr 7, 2020, HSMV's average daily return is +0.05%, while the average monthly return is +0.96%. At this rate, an investment would double in approximately 6.0 years.
Historically, 57% of months were positive and 43% were negative. The best month was Nov 2020 with a return of +10.8%, while the worst month was Sep 2022 at -8.4%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 4 months.
On a daily basis, HSMV closed higher 51% of trading days. The best single day was Apr 9, 2025 with a return of +5.4%, while the worst single day was Jun 11, 2020 at -5.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.09% | 4.16% | -5.20% | 5.03% | -2.68% | 1.26% | 5.35% | ||||||
| 2025 | 1.38% | 0.66% | -1.16% | -2.18% | 1.86% | 0.33% | -1.40% | 4.13% | -0.76% | -3.42% | 3.42% | -1.02% | 1.57% |
| 2024 | -1.51% | 3.23% | 4.18% | -4.16% | 3.67% | -0.75% | 7.79% | 1.19% | 0.96% | -0.83% | 6.62% | -6.95% | 13.17% |
| 2023 | 5.61% | -2.07% | -3.58% | -1.14% | -4.43% | 6.55% | 2.69% | -2.08% | -5.04% | -3.21% | 6.15% | 6.63% | 5.01% |
| 2022 | -5.92% | -0.48% | 2.26% | -5.15% | 1.05% | -6.49% | 8.24% | -4.17% | -8.40% | 9.52% | 5.91% | -4.25% | -9.44% |
| 2021 | -0.28% | 6.44% | 4.59% | 4.13% | 0.36% | -1.11% | 2.30% | 0.67% | -3.95% | 4.97% | -2.57% | 6.61% | 23.72% |
Benchmark Metrics
First Trust Horizon Managed Volatility Small/Mid ETF has an annualized alpha of -1.27%, beta of 0.72, and R2 of 0.60 versus S&P 500 Index. Calculated based on daily prices since April 07, 2020.
- This ETF participated in 82.36% of S&P 500 Index downside but only 65.53% of its upside - more exposed to losses than it benefited from rallies.
- Alpha
- -1.27%
- Beta
- 0.72
- R²
- 0.60
- Upside Capture
- 65.53%
- Downside Capture
- 82.36%
Expense Ratio
HSMV has an expense ratio of 0.80%, placing it in the medium range.
Return for Risk
Risk / Return Rank
HSMV ranks 20 for risk / return — below 20% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for First Trust Horizon Managed Volatility Small/Mid ETF (HSMV) and compare them to S&P 500 Index.
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.
| HSMV | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.34 | ||
| Sortino ratioReturn per unit of downside risk | -1.66 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.37 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 0.93 | 2.78 | -1.85 |
| Martin ratioReturn relative to average drawdown | 2.77 | 12.44 | -9.67 |
Dividends
Dividend History
First Trust Horizon Managed Volatility Small/Mid ETF provided a 1.96% dividend yield over the last twelve months, with an annual payout of $0.73 per share. The fund has been increasing its distributions for 5 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Dividend | $0.73 | $0.72 | $0.51 | $0.46 | $0.39 | $0.26 | $0.23 |
Dividend yield | 1.96% | 2.01% | 1.43% | 1.43% | 1.26% | 0.76% | 0.80% |
Monthly Dividends
The table displays the monthly dividend distributions for First Trust Horizon Managed Volatility Small/Mid ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.00 | $0.12 | ||||||
| 2025 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.31 | $0.72 |
| 2024 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.25 | $0.51 |
| 2023 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.18 | $0.46 |
| 2022 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.17 | $0.39 |
| 2021 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.15 | $0.26 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the First Trust Horizon Managed Volatility Small/Mid ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the First Trust Horizon Managed Volatility Small/Mid ETF was 19.16%, occurring on Sep 30, 2022. Recovery took 404 trading sessions.
The current First Trust Horizon Managed Volatility Small/Mid ETF drawdown is 2.29%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -19.16%Sep 2022 | 8mo 28d | 1y 7mo | 2y 4moJan 2022 - May 2024 |
2025 selloff2025 | -15.45%Apr 2025 | 4mo 13d | 10mo 4d | 1y 2moNov 2024 - Feb 2026 |
2020 pullback2020 | -9.48%Sep 2020 | 1mo 11d | 1mo 17d | 2mo 28dAug 2020 - Nov 2020 |
2020 pullback2020 | -8.83%Jun 2020 | 17d | 1mo 12d | 1mo 29dJun 2020 - Aug 2020 |
2020 pullback2020 | -8.59%May 2020 | 14d | 12d | 26dApr 2020 - May 2020 |
Drawdown Indicators
| HSMV | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.16% | -56.78% | +37.62% |
Max Drawdown (1Y)Largest decline over 1 year | -7.83% | -9.10% | +1.27% |
Max Drawdown (3Y)Largest decline over 3 years | -15.45% | -18.90% | +3.45% |
Max Drawdown (5Y)Largest decline over 5 years | -19.16% | -25.43% | +6.27% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -2.29% | -1.80% | -0.49% |
Average DrawdownAverage peak-to-trough decline | -5.59% | -10.71% | +5.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.63% | 2.03% | +0.60% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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