BUSA vs. BSMC

Last updated Aug 5, 2026

BUSA (Brandes U.S. Value ETF) and BSMC (Brandes U.S. Small-Mid Cap Value ETF) are both exchange-traded funds - BUSA is a Large Cap Value Equities fund actively managed by Brandes, while BSMC is a Small Cap Value Equities fund actively managed by Brandes. Both are actively managed. Over the past year, BUSA returned 27.71% vs 33.07% for BSMC. Their correlation of 0.86 means they have usually moved in the same direction. BUSA charges 0.60%/yr vs 0.70%/yr for BSMC.

Performance

BUSA vs. BSMC - Performance Comparison

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

Returns By Period

In the year-to-date period, BUSA achieves a 14.50% return, which is significantly lower than BSMC's 19.60% return.

BUSA

• 1D: 1.11%
• 1M: 3.31%
• 6M: 8.87%
• YTD: 14.50%
• 1Y: 27.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 21.32%

BSMC

• 1D: 1.71%
• 1M: 4.85%
• 6M: 12.24%
• YTD: 19.60%
• 1Y: 33.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 20.63%

*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)
BSMC Brandes U.S. Small-Mid Cap Value ETF	$462.15K	$477.25K	$450.83K
BUSA Brandes U.S. Value ETF	$863.10K	$770.72K	$800.74K

BUSA vs. BSMC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BUSA Brandes U.S. Value ETF	14.50%	17.56%	15.76%	10.92%
BSMC Brandes U.S. Small-Mid Cap Value ETF	19.60%	15.52%	10.21%	11.69%

Correlation

The correlation between BUSA and BSMC is 0.83, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.83
Correlation (All Time) Calculated using the full available price history since Oct 5, 2023	0.86

The correlation between BUSA and BSMC has been stable across timeframes, ranging from 0.83 to 0.86 - a consistent structural relationship.

BUSA vs. BSMC - Sectors Allocation Comparison

Sectors	BUSA	BSMC
Healthcare	26.1%	23.3%
Financial Services	21.4%	10.5%
Industrials	12.6%	16.0%
Technology	9.7%	15.1%
Energy	6.5%	6.4%
Consumer Cyclical	5.6%	7.6%
Communication Services	5.5%	3.6%
Consumer Defensive	5.3%	13.7%
Basic Materials	4.0%	3.8%
Utilities	3.4%	-
Real Estate	-	-

Return for Risk

BUSA vs. BSMC — Risk / Return Rank

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

BUSA

BUSA Risk / Return Rank: 87
BUSA Sharpe Ratio Rank: 88
BUSA Sortino Ratio Rank: 89
BUSA Omega Ratio Rank: 86
BUSA Calmar Ratio Rank: 86
BUSA Martin Ratio Rank: 83

BSMC

BSMC Risk / Return Rank: 87
BSMC Sharpe Ratio Rank: 88
BSMC Sortino Ratio Rank: 89
BSMC Omega Ratio Rank: 84
BSMC Calmar Ratio Rank: 86
BSMC Martin Ratio Rank: 86

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.

BUSA vs. BSMC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brandes U.S. Value ETF (BUSA) and Brandes U.S. Small-Mid Cap Value ETF (BSMC). 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.

	BUSA	BSMC	Difference
Sharpe ratio: Return per unit of total volatility	2.34	2.30	+0.04
Sortino ratio: Return per unit of downside risk	3.33	3.34	0.00
Omega ratio: Gain probability vs. loss probability	1.42	1.40	+0.02
Calmar ratio: Return relative to maximum drawdown	3.66	3.68	-0.03
Martin ratio: Return relative to average drawdown	12.83	13.62	-0.79

BUSA vs. BSMC - Sharpe Ratio Comparison

The current BUSA Sharpe Ratio is 2.34, which is comparable to the BSMC Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of BUSA and BSMC, 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

BUSA vs. BSMC - Drawdown Comparison

The maximum BUSA drawdown since its inception was -14.19%, smaller than the maximum BSMC drawdown of -19.15%. Use the drawdown chart below to compare losses from any high point for BUSA and BSMC.

Drawdown Indicators

	BUSA	BSMC	Difference
Max Drawdown Largest peak-to-trough decline	-14.19%	-19.15%	+4.96%
Max Drawdown (1Y) Largest decline over 1 year	-7.61%	-9.02%	+1.41%
Current Drawdown Current decline from peak	-0.27%	0.00%	-0.27%
Average Drawdown Average peak-to-trough decline	-2.07%	-2.57%	+0.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.17%	2.44%	-0.27%

Volatility

BUSA vs. BSMC - Volatility Comparison

The current volatility for Brandes U.S. Value ETF (BUSA) is 3.77%, while Brandes U.S. Small-Mid Cap Value ETF (BSMC) has a volatility of 4.39%. This indicates that BUSA experiences smaller price fluctuations and is considered to be less risky than BSMC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BUSA	BSMC	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.77%	4.39%	-0.62%
Volatility (6M) Calculated over the trailing 6-month period	8.70%	10.57%	-1.87%
Volatility (1Y) Calculated over the trailing 1-year period	11.96%	14.51%	-2.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.57%	15.98%	-2.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.57%	15.98%	-2.41%

BUSA vs. BSMC - Expense Ratio Comparison

BUSA has a 0.60% expense ratio, which is lower than BSMC's 0.70% expense ratio.

Dividends

BUSA vs. BSMC - Dividend Comparison

BUSA's dividend yield for the trailing twelve months is around 1.39%, more than BSMC's 0.88% yield.

Position	TTM	2025	2024	2023
BSMC Brandes U.S. Small-Mid Cap Value ETF	0.88%	1.17%	1.02%	0.15%
BUSA Brandes U.S. Value ETF	1.39%	1.53%	1.37%	0.22%

Frequently Asked Questions

Can I hold both BUSA and BSMC in my portfolio?

BUSA and BSMC have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BUSA or BSMC?

BSMC has higher volatility (4.39%) compared to BUSA (3.77%). In terms of maximum drawdown, BUSA dropped -14.19% vs BSMC's -19.15%.

Which ETF is better, BUSA or BSMC?

On 1-year performance, BSMC leads with 33.07% vs 27.71% for BUSA. On fees, BUSA is cheaper at 0.60% per year. On volatility, BUSA has been the lower-risk option at 3.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BUSA or BSMC?

Over the 1-year period, BSMC has performed better with a 33.07% return vs 27.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BUSA or BSMC?

BUSA is cheaper with a 0.60% expense ratio, compared with 0.70% for BSMC.

Which ETF pays a higher dividend yield, BUSA or BSMC?

BUSA has the higher dividend yield at 1.39%, compared with 0.88% for BSMC.

What is the main difference between BUSA and BSMC?

BUSA is categorized as Large Cap Value Equities, while BSMC is Small Cap Value Equities. Their fees differ too: 0.60% for BUSA and 0.70% for BSMC.

Which has better risk-adjusted returns?

BUSA currently has the higher Sharpe Ratio (2.34 vs 2.30), 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.