CSTK vs. SMRI

Last updated Aug 1, 2026

CSTK (Invesco Comstock Contrarian Equity ETF) and SMRI (Bushido Capital US Equity ETF) are both Large Cap Value Equities funds. Both are actively managed. Over the past year, CSTK returned 26.31% vs 40.59% for SMRI. Their 0.72 correlation means they have sometimes moved together and sometimes differently. CSTK charges 0.35%/yr vs 0.71%/yr for SMRI.

Performance

CSTK vs. SMRI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Comstock Contrarian Equity ETF (CSTK) 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, CSTK achieves a 15.11% return, which is significantly lower than SMRI's 23.03% return.

CSTK

• 1D: 0.56%
• 1M: 1.00%
• 6M: 11.49%
• YTD: 15.11%
• 1Y: 26.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 28.36%

SMRI

• 1D: 0.38%
• 1M: 5.51%
• 6M: 23.61%
• YTD: 23.03%
• 1Y: 40.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 22.95%

*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)
CSTK Invesco Comstock Contrarian Equity ETF	$127.37K	$163.03K	$231.23K
SMRI Bushido Capital US Equity ETF	$770.42K	$508.81K	$403.01K

CSTK vs. SMRI - Yearly Performance Comparison

	2026 (YTD)	2025
CSTK Invesco Comstock Contrarian Equity ETF	15.11%	18.16%
SMRI Bushido Capital US Equity ETF	23.03%	20.61%

Correlation

The correlation between CSTK 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 May 7, 2025	0.72

The correlation between CSTK and SMRI has been stable across timeframes, ranging from 0.69 to 0.72 - a consistent structural relationship.

Return for Risk

CSTK vs. SMRI — Risk / Return Rank

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

CSTK

CSTK Risk / Return Rank: 86
CSTK Sharpe Ratio Rank: 89
CSTK Sortino Ratio Rank: 90
CSTK Omega Ratio Rank: 88
CSTK Calmar Ratio Rank: 79
CSTK Martin Ratio Rank: 83

SMRI

SMRI Risk / Return Rank: 94
SMRI Sharpe Ratio Rank: 94
SMRI Sortino Ratio Rank: 94
SMRI Omega Ratio Rank: 92
SMRI Calmar Ratio Rank: 95
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.

CSTK vs. SMRI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Comstock Contrarian Equity ETF (CSTK) 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.

	CSTK	SMRI	Difference
Sharpe ratio: Return per unit of total volatility	2.23	2.64	-0.41
Sortino ratio: Return per unit of downside risk	3.18	3.68	-0.50
Omega ratio: Gain probability vs. loss probability	1.40	1.47	-0.07
Calmar ratio: Return relative to maximum drawdown	2.84	5.75	-2.91
Martin ratio: Return relative to average drawdown	11.32	16.88	-5.56

CSTK vs. SMRI - Sharpe Ratio Comparison

The current CSTK Sharpe Ratio is 2.23, which is comparable to the SMRI Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of CSTK 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

CSTK vs. SMRI - Drawdown Comparison

The maximum CSTK drawdown since its inception was -8.87%, smaller than the maximum SMRI drawdown of -18.45%. Use the drawdown chart below to compare losses from any high point for CSTK and SMRI.

Drawdown Indicators

	CSTK	SMRI	Difference
Max Drawdown Largest peak-to-trough decline	-8.87%	-18.45%	+9.58%
Max Drawdown (1Y) Largest decline over 1 year	-8.87%	-6.80%	-2.07%
Current Drawdown Current decline from peak	0.00%	-0.51%	+0.51%
Average Drawdown Average peak-to-trough decline	-1.17%	-2.72%	+1.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.22%	2.32%	-0.10%

Volatility

CSTK vs. SMRI - Volatility Comparison

The current volatility for Invesco Comstock Contrarian Equity ETF (CSTK) is 2.53%, while Bushido Capital US Equity ETF (SMRI) has a volatility of 3.61%. This indicates that CSTK experiences smaller price fluctuations and is considered to be less risky than SMRI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSTK	SMRI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.53%	3.61%	-1.08%
Volatility (6M) Calculated over the trailing 6-month period	8.42%	11.80%	-3.38%
Volatility (1Y) Calculated over the trailing 1-year period	11.33%	15.09%	-3.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.40%	15.84%	-4.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.40%	15.84%	-4.44%

CSTK vs. SMRI - Expense Ratio Comparison

CSTK has a 0.35% expense ratio, which is lower than SMRI's 0.71% expense ratio.

Dividends

CSTK vs. SMRI - Dividend Comparison

CSTK's dividend yield for the trailing twelve months is around 2.13%, more than SMRI's 0.86% yield.

Position	TTM	2025	2024	2023
CSTK Invesco Comstock Contrarian Equity ETF	2.13%	1.44%	0.00%	0.00%
SMRI Bushido Capital US Equity ETF	0.86%	1.32%	0.98%	0.45%

Frequently Asked Questions

Can I hold both CSTK and SMRI in my portfolio?

CSTK 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, CSTK or SMRI?

SMRI has higher volatility (3.61%) compared to CSTK (2.53%). In terms of maximum drawdown, CSTK dropped -8.87% vs SMRI's -18.45%.

Which ETF is better, CSTK or SMRI?

On 1-year performance, SMRI leads with 40.59% vs 26.31% for CSTK. On fees, CSTK is cheaper at 0.35% per year. On volatility, CSTK has been the lower-risk option at 2.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CSTK or SMRI?

Over the 1-year period, SMRI has performed better with a 40.59% return vs 26.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CSTK or SMRI?

CSTK is cheaper with a 0.35% expense ratio, compared with 0.71% for SMRI.

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

CSTK has the higher dividend yield at 2.13%, compared with 0.86% for SMRI.

What is the main difference between CSTK and SMRI?

They also come from different issuers: Invesco and Bushido. Their fees differ too: 0.35% for CSTK and 0.71% for SMRI.

Which has better risk-adjusted returns?

SMRI currently has the higher Sharpe Ratio (2.64 vs 2.23), 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.