CSM vs. SMDV

Last updated Jun 3, 2026

CSM (Proshares Large Cap Core Plus) and SMDV (ProShares Russell 2000 Dividend Growers ETF) are both exchange-traded funds - CSM is a Long-Short fund tracking the Credit Suisse 130/30 Large-Cap Index, while SMDV is a Small Cap Blend Equities fund tracking the Russell 2000 Dividend Growth Index. Both are passively managed. Over the past 10 years, CSM returned 14.46%/yr vs 7.25%/yr for SMDV. A 0.66 correlation means they provide meaningful diversification when combined. CSM charges 0.45%/yr vs 0.40%/yr for SMDV.

Performance

CSM vs. SMDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Proshares Large Cap Core Plus (CSM) and ProShares Russell 2000 Dividend Growers ETF (SMDV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CSM achieves a 9.53% return, which is significantly lower than SMDV's 10.55% return. Over the past 10 years, CSM has outperformed SMDV with an annualized return of 14.46%, while SMDV has yielded a comparatively lower 7.25% annualized return.

CSM

• 1D: -0.34%
• 1M: 5.19%
• YTD: 9.53%
• 6M: 11.44%
• 1Y: 30.50%
• 3Y*: 22.38%
• 5Y*: 13.79%
• 10Y*: 14.46%

SMDV

• 1D: 1.28%
• 1M: -0.15%
• YTD: 10.55%
• 6M: 10.49%
• 1Y: 16.84%
• 3Y*: 9.71%
• 5Y*: 4.23%
• 10Y*: 7.25%

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

CSM vs. SMDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CSM Proshares Large Cap Core Plus	9.53%	21.84%	22.09%	23.50%	-18.27%	33.13%	10.94%	29.26%	-7.88%	22.52%
SMDV ProShares Russell 2000 Dividend Growers ETF	10.55%	0.26%	7.03%	8.99%	-5.90%	18.98%	-4.74%	17.23%	-0.58%	4.63%

Correlation

The correlation between CSM and SMDV is 0.52, 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	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since Feb 6, 2015	0.66

The correlation between CSM and SMDV shifts across timeframes, from 0.52 (1 year) to 0.67 (10 years), reflecting how their relationship changes across market environments.

CSM vs. SMDV - Sectors Allocation Comparison

Sectors	CSM	SMDV
Technology	28.7%	3.2%
Financial Services	16.3%	31.9%
Industrials	9.0%	22.2%
Consumer Cyclical	8.7%	4.1%
Healthcare	8.5%	1.8%
Communication Services	7.7%	1.0%
Consumer Defensive	4.9%	4.8%
Utilities	3.8%	15.8%
Real Estate	3.1%	7.4%
Energy	3.1%	-
Basic Materials	1.9%	7.8%

Return for Risk

CSM vs. SMDV — Risk / Return Rank

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

CSM

CSM Risk / Return Rank: 74
CSM Sharpe Ratio Rank: 78
CSM Sortino Ratio Rank: 78
CSM Omega Ratio Rank: 75
CSM Calmar Ratio Rank: 64
CSM Martin Ratio Rank: 74

SMDV

SMDV Risk / Return Rank: 31
SMDV Sharpe Ratio Rank: 29
SMDV Sortino Ratio Rank: 32
SMDV Omega Ratio Rank: 28
SMDV Calmar Ratio Rank: 33
SMDV Martin Ratio Rank: 32

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.

CSM vs. SMDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Proshares Large Cap Core Plus (CSM) and ProShares Russell 2000 Dividend Growers ETF (SMDV). 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.

	CSM	SMDV	Difference
Sharpe ratio Return per unit of total volatility	2.57	1.07	+1.50
Sortino ratio Return per unit of downside risk	3.52	1.71	+1.81
Omega ratio Gain probability vs. loss probability	1.45	1.19	+0.26
Calmar ratio Return relative to maximum drawdown	3.26	1.63	+1.63
Martin ratio Return relative to average drawdown	14.22	4.92	+9.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CSM vs. SMDV - Sharpe Ratio Comparison

The current CSM Sharpe Ratio is 2.57, which is higher than the SMDV Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of CSM and SMDV, 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

	CSM	SMDV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.57	1.07	+1.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	0.23	+0.58
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.79	0.35	+0.44
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	0.39	+0.47

Drawdowns

CSM vs. SMDV - Drawdown Comparison

The maximum CSM drawdown since its inception was -36.11%, which is greater than SMDV's maximum drawdown of -34.12%. Use the drawdown chart below to compare losses from any high point for CSM and SMDV.

Drawdown Indicators

	CSM	SMDV	Difference
Max Drawdown Largest peak-to-trough decline	-36.11%	-34.12%	-1.99%
Max Drawdown (1Y) Largest decline over 1 year	-9.40%	-9.79%	+0.39%
Max Drawdown (3Y) Largest decline over 3 years	-18.30%	-21.23%	+2.93%
Max Drawdown (5Y) Largest decline over 5 years	-23.82%	-21.23%	-2.59%
Max Drawdown (10Y) Largest decline over 10 years	-36.11%	-34.12%	-1.99%
Current Drawdown Current decline from peak	-0.34%	-1.20%	+0.86%
Average Drawdown Average peak-to-trough decline	-4.04%	-5.94%	+1.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.15%	3.24%	-1.09%

Volatility

CSM vs. SMDV - Volatility Comparison

The current volatility for Proshares Large Cap Core Plus (CSM) is 2.74%, while ProShares Russell 2000 Dividend Growers ETF (SMDV) has a volatility of 4.33%. This indicates that CSM experiences smaller price fluctuations and is considered to be less risky than SMDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSM	SMDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.74%	4.33%	-1.59%
Volatility (6M) Calculated over the trailing 6-month period	8.78%	10.42%	-1.64%
Volatility (1Y) Calculated over the trailing 1-year period	11.91%	15.79%	-3.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.11%	18.68%	-1.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.38%	20.73%	-2.35%

CSM vs. SMDV - Expense Ratio Comparison

CSM has a 0.45% expense ratio, which is higher than SMDV's 0.40% expense ratio.

Dividends

CSM vs. SMDV - Dividend Comparison

CSM's dividend yield for the trailing twelve months is around 1.00%, less than SMDV's 2.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CSM Proshares Large Cap Core Plus	1.00%	1.04%	1.06%	1.17%	1.37%	0.78%	1.21%	1.41%	1.54%	1.28%	1.49%	1.67%
SMDV ProShares Russell 2000 Dividend Growers ETF	2.38%	2.67%	2.68%	2.69%	2.51%	2.02%	2.13%	2.03%	1.97%	1.84%	1.35%	1.81%

Frequently Asked Questions

Can I hold both CSM and SMDV in my portfolio?

CSM and SMDV have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CSM or SMDV?

SMDV has higher volatility (4.33%) compared to CSM (2.74%). In terms of maximum drawdown, CSM dropped -36.11% vs SMDV's -34.12%.

Which ETF is better, CSM or SMDV?

On 10-year performance, CSM leads with 14.46% vs 7.25% for SMDV. On fees, SMDV is cheaper at 0.40% per year. On volatility, CSM has been the lower-risk option at 2.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CSM or SMDV?

Over the 10-year period, CSM has performed better with a 14.46% return vs 7.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CSM or SMDV?

SMDV is cheaper with a 0.40% expense ratio, compared with 0.45% for CSM.

Which ETF pays a higher dividend yield, CSM or SMDV?

SMDV has the higher dividend yield at 2.38%, compared with 1.00% for CSM.

What is the main difference between CSM and SMDV?

CSM is categorized as Long-Short, while SMDV is Small Cap Blend Equities. CSM tracks Credit Suisse 130/30 Large-Cap Index, while SMDV tracks Russell 2000 Dividend Growth Index. Their fees differ too: 0.45% for CSM and 0.40% for SMDV.

Which has better risk-adjusted returns?

CSM currently has the higher Sharpe Ratio (2.57 vs 1.07), 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.