BASV vs. SMRI

Last updated Aug 4, 2026

BASV (Brown Advisory Sustainable Value ETF) and SMRI (Bushido Capital US Equity ETF) are both Large Cap Value Equities funds. Both are actively managed. Over the past year, BASV returned 23.80% vs 41.31% for SMRI. Their 0.71 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.71% expense ratio.

Performance

BASV vs. SMRI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Brown Advisory Sustainable Value ETF (BASV) and Bushido Capital US Equity ETF (SMRI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BASV achieves a 14.07% return, which is significantly lower than SMRI's 23.66% return.

BASV

• 1D: 1.55%
• 1M: 2.58%
• 6M: 11.42%
• YTD: 14.07%
• 1Y: 23.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 22.54%

SMRI

• 1D: 0.51%
• 1M: 6.05%
• 6M: 23.81%
• YTD: 23.66%
• 1Y: 41.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 23.09%

*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)
BASV Brown Advisory Sustainable Value ETF	$439.72K	$617.98K	$647.17K
SMRI Bushido Capital US Equity ETF	$788.40K	$487.27K	$377.44K

BASV vs. SMRI - Yearly Performance Comparison

	2026 (YTD)	2025
BASV Brown Advisory Sustainable Value ETF	14.07%	10.32%
SMRI Bushido Capital US Equity ETF	23.66%	13.44%

Correlation

The correlation between BASV and SMRI is 0.69, 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.	0.69
Correlation (All Time) Calculated using the full available price history since Jun 16, 2025	0.71

The correlation between BASV and SMRI has been stable across timeframes, ranging from 0.69 to 0.71 - a consistent structural relationship.

Return for Risk

BASV vs. SMRI — Risk / Return Rank

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

BASV

BASV Risk / Return Rank: 66
BASV Sharpe Ratio Rank: 66
BASV Sortino Ratio Rank: 67
BASV Omega Ratio Rank: 63
BASV Calmar Ratio Rank: 65
BASV Martin Ratio Rank: 67

SMRI

SMRI Risk / Return Rank: 94
SMRI Sharpe Ratio Rank: 94
SMRI Sortino Ratio Rank: 94
SMRI Omega Ratio Rank: 93
SMRI Calmar Ratio Rank: 96
SMRI Martin Ratio Rank: 93

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.

BASV vs. SMRI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brown Advisory Sustainable Value ETF (BASV) and Bushido Capital US Equity ETF (SMRI). 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.

	BASV	SMRI	Difference
Sharpe ratio: Return per unit of total volatility	1.70	2.81	-1.10
Sortino ratio: Return per unit of downside risk	2.44	3.89	-1.45
Omega ratio: Gain probability vs. loss probability	1.30	1.50	-0.19
Calmar ratio: Return relative to maximum drawdown	2.54	6.10	-3.57
Martin ratio: Return relative to average drawdown	9.03	17.90	-8.87

BASV vs. SMRI - Sharpe Ratio Comparison

The current BASV Sharpe Ratio is 1.70, which is lower than the SMRI Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of BASV and SMRI, 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

BASV vs. SMRI - Drawdown Comparison

The maximum BASV drawdown since its inception was -9.43%, smaller than the maximum SMRI drawdown of -18.45%. Use the drawdown chart below to compare losses from any high point for BASV and SMRI.

Drawdown Indicators

	BASV	SMRI	Difference
Max Drawdown Largest peak-to-trough decline	-9.43%	-18.45%	+9.02%
Max Drawdown (1Y) Largest decline over 1 year	-9.43%	-6.80%	-2.63%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.58%	-2.71%	+1.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.64%	2.31%	+0.33%

Volatility

BASV vs. SMRI - Volatility Comparison

Brown Advisory Sustainable Value ETF (BASV) has a higher volatility of 4.33% compared to Bushido Capital US Equity ETF (SMRI) at 3.39%. This indicates that BASV's price experiences larger fluctuations and is considered to be riskier than SMRI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BASV	SMRI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.33%	3.39%	+0.94%
Volatility (6M) Calculated over the trailing 6-month period	11.12%	11.78%	-0.66%
Volatility (1Y) Calculated over the trailing 1-year period	14.06%	14.82%	-0.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.69%	15.83%	-2.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.69%	15.83%	-2.14%

BASV vs. SMRI - Expense Ratio Comparison

Both BASV and SMRI have an expense ratio of 0.71%.

Dividends

BASV vs. SMRI - Dividend Comparison

BASV's dividend yield for the trailing twelve months is around 0.36%, less than SMRI's 0.85% yield.

Position	TTM	2025	2024	2023
BASV Brown Advisory Sustainable Value ETF	0.36%	0.41%	0.00%	0.00%
SMRI Bushido Capital US Equity ETF	0.85%	1.32%	0.98%	0.45%

Frequently Asked Questions

Can I hold both BASV and SMRI in my portfolio?

BASV and SMRI have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BASV or SMRI?

BASV has higher volatility (4.33%) compared to SMRI (3.39%). In terms of maximum drawdown, BASV dropped -9.43% vs SMRI's -18.45%.

Which ETF is better, BASV or SMRI?

On 1-year performance, SMRI leads with 41.31% vs 23.80% for BASV. Both ETFs have the same 0.71% expense ratio. On volatility, SMRI has been the lower-risk option at 3.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BASV or SMRI?

Over the 1-year period, SMRI has performed better with a 41.31% return vs 23.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BASV or SMRI?

BASV and SMRI have the same expense ratio: 0.71% per year.

Which ETF pays a higher dividend yield, BASV or SMRI?

SMRI has the higher dividend yield at 0.85%, compared with 0.36% for BASV.

What is the main difference between BASV and SMRI?

They also come from different issuers: Brown Advisory and Bushido.

Which has better risk-adjusted returns?

SMRI currently has the higher Sharpe Ratio (2.81 vs 1.70), 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.