AFSC vs. SMMV

Last updated Aug 1, 2026

AFSC (abrdn Focused U.S. Small Cap Active ETF) and SMMV (iShares MSCI USA Small-Cap Min Vol Factor ETF) are both Small Cap Blend Equities funds. AFSC is actively managed, while SMMV is passively managed. Over the past year, AFSC returned 34.73% vs 16.10% for SMMV. Their 0.69 correlation means they have sometimes moved together and sometimes differently. AFSC charges 0.65%/yr vs 0.20%/yr for SMMV.

Performance

AFSC vs. SMMV - 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 iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AFSC achieves a 25.20% return, which is significantly higher than SMMV's 9.33% return.

AFSC

• 1D: 0.02%
• 1M: -0.76%
• 6M: 20.07%
• YTD: 25.20%
• 1Y: 34.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.69%

SMMV

• 1D: -0.06%
• 1M: 0.56%
• 6M: 7.36%
• YTD: 9.33%
• 1Y: 16.10%
• 3Y*: 12.24%
• 5Y*: 6.29%
• 10Y*: —
• ALL TIME*: 8.71%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AFSC abrdn Focused U.S. Small Cap Active ETF	$6.77K	$11.55K	$12.82K
SMMV iShares MSCI USA Small-Cap Min Vol Factor ETF	$337.38K	$347.17K	$431.55K

AFSC vs. SMMV - Yearly Performance Comparison

	2026 (YTD)	2025
AFSC abrdn Focused U.S. Small Cap Active ETF	25.20%	2.33%
SMMV iShares MSCI USA Small-Cap Min Vol Factor ETF	9.33%	4.27%

Correlation

The correlation between AFSC and SMMV is 0.61, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.61
Correlation (All Time) Calculated using the full available price history since Feb 18, 2025	0.69

The correlation between AFSC and SMMV has been stable across timeframes, ranging from 0.61 to 0.69 - a consistent structural relationship.

Return for Risk

AFSC vs. SMMV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AFSC

AFSC Risk / Return Rank: 79
AFSC Sharpe Ratio Rank: 77
AFSC Sortino Ratio Rank: 79
AFSC Omega Ratio Rank: 70
AFSC Calmar Ratio Rank: 85
AFSC Martin Ratio Rank: 85

SMMV

SMMV Risk / Return Rank: 66
SMMV Sharpe Ratio Rank: 69
SMMV Sortino Ratio Rank: 75
SMMV Omega Ratio Rank: 68
SMMV Calmar Ratio Rank: 63
SMMV Martin Ratio Rank: 56

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AFSC vs. SMMV - 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 iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV). 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.

	AFSC	SMMV	Difference
Sharpe ratio: Return per unit of total volatility	1.78	1.58	+0.20
Sortino ratio: Return per unit of downside risk	2.56	2.42	+0.14
Omega ratio: Gain probability vs. loss probability	1.30	1.28	+0.01
Calmar ratio: Return relative to maximum drawdown	3.29	2.19	+1.10
Martin ratio: Return relative to average drawdown	12.03	6.75	+5.28

AFSC vs. SMMV - Sharpe Ratio Comparison

The current AFSC Sharpe Ratio is 1.78, which is comparable to the SMMV Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of AFSC and SMMV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AFSC vs. SMMV - Drawdown Comparison

The maximum AFSC drawdown since its inception was -21.93%, smaller than the maximum SMMV drawdown of -38.77%. Use the drawdown chart below to compare losses from any high point for AFSC and SMMV.

Drawdown Indicators

	AFSC	SMMV	Difference
Max Drawdown Largest peak-to-trough decline	-21.93%	-38.77%	+16.84%
Max Drawdown (1Y) Largest decline over 1 year	-10.29%	-7.02%	-3.27%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.68%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.00%	—
Current Drawdown Current decline from peak	-3.03%	-1.07%	-1.96%
Average Drawdown Average peak-to-trough decline	-4.01%	-5.04%	+1.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.81%	2.28%	+0.53%

Volatility

AFSC vs. SMMV - Volatility Comparison

abrdn Focused U.S. Small Cap Active ETF (AFSC) has a higher volatility of 4.60% compared to iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV) at 2.85%. This indicates that AFSC's price experiences larger fluctuations and is considered to be riskier than SMMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AFSC	SMMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.60%	2.85%	+1.75%
Volatility (6M) Calculated over the trailing 6-month period	14.54%	6.98%	+7.56%
Volatility (1Y) Calculated over the trailing 1-year period	19.13%	9.75%	+9.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.09%	13.44%	+8.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.09%	15.62%	+6.47%

AFSC vs. SMMV - Expense Ratio Comparison

AFSC has a 0.65% expense ratio, which is higher than SMMV's 0.20% expense ratio.

Dividends

AFSC vs. SMMV - Dividend Comparison

AFSC's dividend yield for the trailing twelve months is around 0.06%, less than SMMV's 1.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
AFSC abrdn Focused U.S. Small Cap Active ETF	0.06%	0.08%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SMMV iShares MSCI USA Small-Cap Min Vol Factor ETF	1.66%	1.77%	1.76%	2.30%	1.67%	1.08%	1.39%	1.64%	1.72%	1.63%	0.79%

Frequently Asked Questions

Can I hold both AFSC and SMMV in my portfolio?

AFSC and SMMV have a correlation of 0.61, 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 SMMV?

AFSC has higher volatility (4.60%) compared to SMMV (2.85%). In terms of maximum drawdown, AFSC dropped -21.93% vs SMMV's -38.77%.

Which ETF is better, AFSC or SMMV?

On 1-year performance, AFSC leads with 34.73% vs 16.10% for SMMV. On fees, SMMV is cheaper at 0.20% per year. On volatility, SMMV 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, AFSC or SMMV?

Over the 1-year period, AFSC has performed better with a 34.73% return vs 16.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AFSC or SMMV?

SMMV is cheaper with a 0.20% expense ratio, compared with 0.65% for AFSC.

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

SMMV has the higher dividend yield at 1.66%, compared with 0.06% for AFSC.

What is the main difference between AFSC and SMMV?

They also come from different issuers: Aberdeen and iShares. Their fees differ too: 0.65% for AFSC and 0.20% for SMMV.

Which has better risk-adjusted returns?

AFSC currently has the higher Sharpe Ratio (1.78 vs 1.58), 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.