ABLS vs. HSMV

Last updated Jun 4, 2026

ABLS (Abacus FCF Small Cap Leaders ETF) and HSMV (First Trust Horizon Managed Volatility Small/Mid ETF) are both Small Cap Blend Equities funds. ABLS is passively managed, while HSMV is actively managed. Over the past year, ABLS returned 0.04% vs 4.19% for HSMV. A 0.63 correlation means they provide meaningful diversification when combined. ABLS charges 0.39%/yr vs 0.80%/yr for HSMV.

Performance

ABLS vs. HSMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Abacus FCF Small Cap Leaders ETF (ABLS) and First Trust Horizon Managed Volatility Small/Mid ETF (HSMV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ABLS achieves a 2.75% return, which is significantly lower than HSMV's 3.11% return.

ABLS

• 1D: -0.92%
• 1M: 0.47%
• YTD: 2.75%
• 6M: -0.23%
• 1Y: 0.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HSMV

• 1D: -0.50%
• 1M: -2.09%
• YTD: 3.11%
• 6M: 3.06%
• 1Y: 4.19%
• 3Y*: 8.36%
• 5Y*: 3.69%
• 10Y*: —

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

ABLS vs. HSMV - Yearly Performance Comparison

	2026 (YTD)	2025
ABLS Abacus FCF Small Cap Leaders ETF	2.75%	-8.72%
HSMV First Trust Horizon Managed Volatility Small/Mid ETF	3.11%	0.50%

Correlation

The correlation between ABLS and HSMV is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.55
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.63

The correlation between ABLS and HSMV has been stable across timeframes, ranging from 0.55 to 0.63 - a consistent structural relationship.

Return for Risk

ABLS vs. HSMV — Risk / Return Rank

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

ABLS

ABLS Risk / Return Rank: 9
ABLS Sharpe Ratio Rank: 9
ABLS Sortino Ratio Rank: 9
ABLS Omega Ratio Rank: 9
ABLS Calmar Ratio Rank: 9
ABLS Martin Ratio Rank: 9

HSMV

HSMV Risk / Return Rank: 15
HSMV Sharpe Ratio Rank: 15
HSMV Sortino Ratio Rank: 15
HSMV Omega Ratio Rank: 14
HSMV Calmar Ratio Rank: 16
HSMV Martin Ratio Rank: 17

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.

ABLS vs. HSMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Abacus FCF Small Cap Leaders ETF (ABLS) and First Trust Horizon Managed Volatility Small/Mid ETF (HSMV). 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.

	ABLS	HSMV	Difference
Sharpe ratio: Return per unit of total volatility	0.00	0.41	-0.40
Sortino ratio: Return per unit of downside risk	0.13	0.68	-0.55
Omega ratio: Gain probability vs. loss probability	1.01	1.07	-0.06
Calmar ratio: Return relative to maximum drawdown	0.00	0.54	-0.53
Martin ratio: Return relative to average drawdown	0.01	1.62	-1.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ABLS vs. HSMV - Sharpe Ratio Comparison

The current ABLS Sharpe Ratio is 0.00, which is lower than the HSMV Sharpe Ratio of 0.41. The chart below compares the historical Sharpe Ratios of ABLS and HSMV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ABLS	HSMV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.00	0.41	-0.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.25	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.23	0.67	-0.90

Drawdowns

ABLS vs. HSMV - Drawdown Comparison

The maximum ABLS drawdown since its inception was -19.28%, roughly equal to the maximum HSMV drawdown of -19.16%. Use the drawdown chart below to compare losses from any high point for ABLS and HSMV.

Drawdown Indicators

	ABLS	HSMV	Difference
Max Drawdown Largest peak-to-trough decline	-19.28%	-19.16%	-0.12%
Max Drawdown (1Y) Largest decline over 1 year	-16.19%	-7.83%	-8.36%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.45%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.16%	—
Current Drawdown Current decline from peak	-6.21%	-4.36%	-1.85%
Average Drawdown Average peak-to-trough decline	-8.45%	-5.62%	-2.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.82%	2.59%	+3.23%

Volatility

ABLS vs. HSMV - Volatility Comparison

Abacus FCF Small Cap Leaders ETF (ABLS) has a higher volatility of 3.80% compared to First Trust Horizon Managed Volatility Small/Mid ETF (HSMV) at 2.85%. This indicates that ABLS's price experiences larger fluctuations and is considered to be riskier than HSMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ABLS	HSMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.80%	2.85%	+0.95%
Volatility (6M) Calculated over the trailing 6-month period	12.68%	7.28%	+5.40%
Volatility (1Y) Calculated over the trailing 1-year period	17.35%	10.37%	+6.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.25%	15.00%	+6.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.25%	16.06%	+5.19%

ABLS vs. HSMV - Expense Ratio Comparison

ABLS has a 0.39% expense ratio, which is lower than HSMV's 0.80% expense ratio.

Dividends

ABLS vs. HSMV - Dividend Comparison

ABLS's dividend yield for the trailing twelve months is around 13.68%, more than HSMV's 2.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
ABLS Abacus FCF Small Cap Leaders ETF	13.68%	14.04%	0.00%	0.00%	0.00%	0.00%	0.00%
HSMV First Trust Horizon Managed Volatility Small/Mid ETF	2.00%	2.01%	1.43%	1.43%	1.26%	0.76%	0.80%

Frequently Asked Questions

Can I hold both ABLS and HSMV in my portfolio?

ABLS and HSMV have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ABLS or HSMV?

ABLS has higher volatility (3.80%) compared to HSMV (2.85%). In terms of maximum drawdown, ABLS dropped -19.28% vs HSMV's -19.16%.

Which ETF is better, ABLS or HSMV?

On 1-year performance, HSMV leads with 4.19% vs 0.04% for ABLS. On fees, ABLS is cheaper at 0.39% per year. On volatility, HSMV has been the lower-risk option at 2.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ABLS or HSMV?

Over the 1-year period, HSMV has performed better with a 4.19% return vs 0.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ABLS or HSMV?

ABLS is cheaper with a 0.39% expense ratio, compared with 0.80% for HSMV.

Which ETF pays a higher dividend yield, ABLS or HSMV?

ABLS has the higher dividend yield at 13.68%, compared with 2.00% for HSMV.

What is the main difference between ABLS and HSMV?

They also come from different issuers: Abacus and First Trust. Their fees differ too: 0.39% for ABLS and 0.80% for HSMV.

Which has better risk-adjusted returns?

HSMV currently has the higher Sharpe Ratio (0.41 vs 0.00), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.