BSMC vs. BISMX

Last updated Jun 24, 2026

BSMC (Brandes U.S. Small-Mid Cap Value ETF) and BISMX (Brandes International Small Cap Equity Fund Class I) are both funds - BSMC is a Small Cap Value Equities fund actively managed by Brandes, while BISMX is a Foreign Small & Mid Cap Equities fund actively managed by Brandes. Both are actively managed. Over the past year, BSMC returned 23.93% vs 9.44% for BISMX. A 0.61 correlation means they provide meaningful diversification when combined. BSMC charges 0.70%/yr vs 1.11%/yr for BISMX.

Performance

BSMC vs. BISMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Brandes U.S. Small-Mid Cap Value ETF (BSMC) and Brandes International Small Cap Equity Fund Class I (BISMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BSMC achieves a 9.66% return, which is significantly higher than BISMX's -2.29% return.

BSMC

• 1D: 0.45%
• 1M: 0.30%
• YTD: 9.66%
• 6M: 9.35%
• 1Y: 23.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BISMX

• 1D: -1.04%
• 1M: -2.99%
• YTD: -2.29%
• 6M: -2.22%
• 1Y: 9.44%
• 3Y*: 27.96%
• 5Y*: 16.55%
• 10Y*: 11.19%

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

BSMC vs. BISMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BSMC Brandes U.S. Small-Mid Cap Value ETF	9.66%	15.52%	10.21%	11.69%
BISMX Brandes International Small Cap Equity Fund Class I	-2.29%	45.81%	23.44%	17.37%

Correlation

The correlation between BSMC and BISMX is 0.67, 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	0.67
Correlation (All Time) Calculated using the full available price history since Oct 5, 2023	0.61

The correlation between BSMC and BISMX has been stable across timeframes, ranging from 0.61 to 0.67 - a consistent structural relationship.

Return for Risk

BSMC vs. BISMX — Risk / Return Rank

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

BSMC

BSMC Risk / Return Rank: 54
BSMC Sharpe Ratio Rank: 51
BSMC Sortino Ratio Rank: 55
BSMC Omega Ratio Rank: 48
BSMC Calmar Ratio Rank: 58
BSMC Martin Ratio Rank: 57

BISMX

BISMX Risk / Return Rank: 10
BISMX Sharpe Ratio Rank: 11
BISMX Sortino Ratio Rank: 11
BISMX Omega Ratio Rank: 10
BISMX Calmar Ratio Rank: 9
BISMX Martin Ratio Rank: 9

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.

BSMC vs. BISMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brandes U.S. Small-Mid Cap Value ETF (BSMC) and Brandes International Small Cap Equity Fund Class I (BISMX). 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.

	BSMC	BISMX	Difference
Sharpe ratio: Return per unit of total volatility	1.65	0.80	+0.85
Sortino ratio: Return per unit of downside risk	2.44	1.25	+1.19
Omega ratio: Gain probability vs. loss probability	1.28	1.15	+0.14
Calmar ratio: Return relative to maximum drawdown	2.66	0.86	+1.80
Martin ratio: Return relative to average drawdown	9.40	2.30	+7.11

BSMC vs. BISMX - Sharpe Ratio Comparison

The current BSMC Sharpe Ratio is 1.65, which is higher than the BISMX Sharpe Ratio of 0.80. The chart below compares the historical Sharpe Ratios of BSMC and BISMX, 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

BSMC vs. BISMX - Drawdown Comparison

The maximum BSMC drawdown since its inception was -19.15%, smaller than the maximum BISMX drawdown of -47.07%. Use the drawdown chart below to compare losses from any high point for BSMC and BISMX.

Drawdown Indicators

	BSMC	BISMX	Difference
Max Drawdown Largest peak-to-trough decline	-19.15%	-47.07%	+27.92%
Max Drawdown (1Y) Largest decline over 1 year	-9.02%	-11.61%	+2.59%
Max Drawdown (3Y) Largest decline over 3 years	—	-11.61%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-31.26%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-47.07%	—
Current Drawdown Current decline from peak	-2.60%	-10.35%	+7.75%
Average Drawdown Average peak-to-trough decline	-2.65%	-7.93%	+5.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.55%	4.36%	-1.81%

Volatility

BSMC vs. BISMX - Volatility Comparison

Brandes U.S. Small-Mid Cap Value ETF (BSMC) and Brandes International Small Cap Equity Fund Class I (BISMX) have volatilities of 3.71% and 3.55%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BSMC	BISMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.71%	3.55%	+0.16%
Volatility (6M) Calculated over the trailing 6-month period	10.29%	10.41%	-0.12%
Volatility (1Y) Calculated over the trailing 1-year period	14.63%	12.57%	+2.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.06%	13.90%	+2.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.06%	14.24%	+1.82%

BSMC vs. BISMX - Expense Ratio Comparison

BSMC has a 0.70% expense ratio, which is lower than BISMX's 1.11% expense ratio.

Dividends

BSMC vs. BISMX - Dividend Comparison

BSMC's dividend yield for the trailing twelve months is around 0.95%, less than BISMX's 3.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BISMX Brandes International Small Cap Equity Fund Class I	3.41%	3.34%	3.22%	2.93%	4.16%	3.45%	0.92%	0.82%	4.10%	8.51%	4.16%	3.65%
BSMC Brandes U.S. Small-Mid Cap Value ETF	0.95%	1.17%	1.02%	0.15%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BSMC and BISMX in my portfolio?

BSMC and BISMX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BSMC or BISMX?

BSMC has higher volatility (3.71%) compared to BISMX (3.55%). In terms of maximum drawdown, BSMC dropped -19.15% vs BISMX's -47.07%.

Which has better risk-adjusted returns?

BSMC currently has the higher Sharpe Ratio (1.65 vs 0.80), 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.