AFSC vs. OUSM

Last updated Jun 4, 2026

AFSC (abrdn Focused U.S. Small Cap Active ETF) and OUSM (OShares U.S. Small-Cap Quality Dividend ETF) are both Small Cap Blend Equities funds. AFSC is actively managed, while OUSM is passively managed. Over the past year, AFSC returned 27.01% vs 10.89% for OUSM. Their correlation of 0.83 suggests significant overlap in exposure. AFSC charges 0.65%/yr vs 0.48%/yr for OUSM.

Performance

AFSC vs. OUSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in abrdn Focused U.S. Small Cap Active ETF (AFSC) and OShares U.S. Small-Cap Quality Dividend ETF (OUSM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AFSC achieves a 16.58% return, which is significantly higher than OUSM's 6.80% return.

AFSC

• 1D: -0.69%
• 1M: 1.96%
• YTD: 16.58%
• 6M: 13.48%
• 1Y: 27.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —

OUSM

• 1D: -0.06%
• 1M: 1.69%
• YTD: 6.80%
• 6M: 6.94%
• 1Y: 10.89%
• 3Y*: 11.71%
• 5Y*: 7.39%
• 10Y*: —

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

AFSC vs. OUSM - Yearly Performance Comparison

	2026 (YTD)	2025
AFSC abrdn Focused U.S. Small Cap Active ETF	16.58%	2.67%
OUSM OShares U.S. Small-Cap Quality Dividend ETF	6.80%	0.42%

Correlation

The correlation between AFSC and OUSM is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (All Time) Calculated using the full available price history since Feb 19, 2025	0.83

The correlation between AFSC and OUSM has been stable across timeframes, ranging from 0.82 to 0.83 - a consistent structural relationship.

Return for Risk

AFSC vs. OUSM — Risk / Return Rank

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

AFSC

AFSC Risk / Return Rank: 47
AFSC Sharpe Ratio Rank: 42
AFSC Sortino Ratio Rank: 42
AFSC Omega Ratio Rank: 38
AFSC Calmar Ratio Rank: 54
AFSC Martin Ratio Rank: 57

OUSM

OUSM Risk / Return Rank: 24
OUSM Sharpe Ratio Rank: 23
OUSM Sortino Ratio Rank: 24
OUSM Omega Ratio Rank: 22
OUSM Calmar Ratio Rank: 25
OUSM Martin Ratio Rank: 25

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.

AFSC vs. OUSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for abrdn Focused U.S. Small Cap Active ETF (AFSC) and OShares U.S. Small-Cap Quality Dividend ETF (OUSM). 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.

	AFSC	OUSM	Difference
Sharpe ratio: Return per unit of total volatility	1.46	0.83	+0.63
Sortino ratio: Return per unit of downside risk	2.11	1.34	+0.77
Omega ratio: Gain probability vs. loss probability	1.25	1.15	+0.10
Calmar ratio: Return relative to maximum drawdown	2.64	1.19	+1.45
Martin ratio: Return relative to average drawdown	9.96	3.47	+6.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AFSC vs. OUSM - Sharpe Ratio Comparison

The current AFSC Sharpe Ratio is 1.46, which is higher than the OUSM Sharpe Ratio of 0.83. The chart below compares the historical Sharpe Ratios of AFSC and OUSM, 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

	AFSC	OUSM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.46	0.83	+0.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.46	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	0.48	+0.19

Drawdowns

AFSC vs. OUSM - Drawdown Comparison

The maximum AFSC drawdown since its inception was -21.68%, smaller than the maximum OUSM drawdown of -39.84%. Use the drawdown chart below to compare losses from any high point for AFSC and OUSM.

Drawdown Indicators

	AFSC	OUSM	Difference
Max Drawdown Largest peak-to-trough decline	-21.68%	-39.84%	+18.16%
Max Drawdown (1Y) Largest decline over 1 year	-10.29%	-9.21%	-1.08%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.44%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.44%	—
Current Drawdown Current decline from peak	-1.79%	-1.67%	-0.12%
Average Drawdown Average peak-to-trough decline	-4.15%	-5.22%	+1.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.72%	3.14%	-0.42%

Volatility

AFSC vs. OUSM - Volatility Comparison

abrdn Focused U.S. Small Cap Active ETF (AFSC) has a higher volatility of 5.49% compared to OShares U.S. Small-Cap Quality Dividend ETF (OUSM) at 3.66%. This indicates that AFSC's price experiences larger fluctuations and is considered to be riskier than OUSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AFSC	OUSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.49%	3.66%	+1.83%
Volatility (6M) Calculated over the trailing 6-month period	13.99%	9.25%	+4.74%
Volatility (1Y) Calculated over the trailing 1-year period	18.59%	13.15%	+5.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.57%	16.30%	+6.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.57%	18.94%	+3.63%

AFSC vs. OUSM - Expense Ratio Comparison

AFSC has a 0.65% expense ratio, which is higher than OUSM's 0.48% expense ratio.

Dividends

AFSC vs. OUSM - Dividend Comparison

AFSC's dividend yield for the trailing twelve months is around 0.07%, less than OUSM's 2.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
AFSC abrdn Focused U.S. Small Cap Active ETF	0.07%	0.08%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
OUSM OShares U.S. Small-Cap Quality Dividend ETF	2.07%	2.09%	1.62%	1.64%	1.98%	1.55%	2.02%	1.99%	2.63%	2.17%

Frequently Asked Questions

Can I hold both AFSC and OUSM in my portfolio?

AFSC and OUSM have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AFSC or OUSM?

AFSC has higher volatility (5.49%) compared to OUSM (3.66%). In terms of maximum drawdown, AFSC dropped -21.68% vs OUSM's -39.84%.

Which ETF is better, AFSC or OUSM?

On 1-year performance, AFSC leads with 27.01% vs 10.89% for OUSM. On fees, OUSM is cheaper at 0.48% per year. On volatility, OUSM has been the lower-risk option at 3.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AFSC or OUSM?

Over the 1-year period, AFSC has performed better with a 27.01% return vs 10.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AFSC or OUSM?

OUSM is cheaper with a 0.48% expense ratio, compared with 0.65% for AFSC.

Which ETF pays a higher dividend yield, AFSC or OUSM?

OUSM has the higher dividend yield at 2.07%, compared with 0.07% for AFSC.

What is the main difference between AFSC and OUSM?

They also come from different issuers: Aberdeen and O'Shares Investments. Their fees differ too: 0.65% for AFSC and 0.48% for OUSM.

Which has better risk-adjusted returns?

AFSC currently has the higher Sharpe Ratio (1.46 vs 0.83), 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.