FSGS vs. SMMV

Last updated Apr 1, 2026

Compare and contrast key facts about First Trust SMID Growth Strength ETF (FSGS) and iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV).

FSGS and SMMV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FSGS is a passively managed fund by First Trust that tracks the performance of the SMID Growth Strength Index. It was launched on Jun 20, 2017. SMMV is a passively managed fund by iShares that tracks the performance of the MSCI USA Small Cap Minimum Volatility (USD) Index. It was launched on Sep 7, 2016. Both FSGS and SMMV are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

FSGS vs. SMMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust SMID Growth Strength ETF (FSGS) and iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV). The values are adjusted to include any dividend payments, if applicable.

FSGS vs. SMMV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSGS First Trust SMID Growth Strength ETF	-4.02%	2.41%	6.38%	15.98%	-13.17%	25.56%	10.26%	21.31%	-11.92%	10.39%
SMMV iShares MSCI USA Small-Cap Min Vol Factor ETF	1.14%	6.42%	18.29%	5.63%	-10.00%	16.64%	-2.88%	24.21%	1.15%	6.20%

Returns By Period

In the year-to-date period, FSGS achieves a -4.02% return, which is significantly lower than SMMV's 1.14% return.

FSGS

• 1D: 2.68%
• 1M: -4.80%
• YTD: -4.02%
• 6M: -6.45%
• 1Y: 6.83%
• 3Y*: 4.89%
• 5Y*: 2.15%
• 10Y*: —

SMMV

• 1D: 1.18%
• 1M: -4.92%
• YTD: 1.14%
• 6M: 2.18%
• 1Y: 7.12%
• 3Y*: 9.91%
• 5Y*: 5.02%
• 10Y*: —

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

FSGS vs. SMMV - Expense Ratio Comparison

FSGS has a 0.60% expense ratio, which is higher than SMMV's 0.20% expense ratio.

FSGS

First Trust SMID Growth Strength ETF

SMMV

iShares MSCI USA Small-Cap Min Vol Factor ETF

Return for Risk

FSGS vs. SMMV — Risk / Return Rank

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

FSGS

FSGS Risk / Return Rank: 22
FSGS Sharpe Ratio Rank: 21
FSGS Sortino Ratio Rank: 22
FSGS Omega Ratio Rank: 21
FSGS Calmar Ratio Rank: 25
FSGS Martin Ratio Rank: 24

SMMV

SMMV Risk / Return Rank: 33
SMMV Sharpe Ratio Rank: 31
SMMV Sortino Ratio Rank: 31
SMMV Omega Ratio Rank: 29
SMMV Calmar Ratio Rank: 33
SMMV Martin Ratio Rank: 38

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.

FSGS vs. SMMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust SMID Growth Strength ETF (FSGS) and iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV). 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.

	FSGS	SMMV	Difference
Sharpe ratio Return per unit of total volatility	0.34	0.55	-0.20
Sortino ratio Return per unit of downside risk	0.66	0.87	-0.21
Omega ratio Gain probability vs. loss probability	1.08	1.11	-0.03
Calmar ratio Return relative to maximum drawdown	0.57	0.79	-0.22
Martin ratio Return relative to average drawdown	1.72	3.38	-1.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSGS vs. SMMV - Sharpe Ratio Comparison

The current FSGS Sharpe Ratio is 0.34, which is lower than the SMMV Sharpe Ratio of 0.55. The chart below compares the historical Sharpe Ratios of FSGS and SMMV, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FSGS	SMMV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.34	0.55	-0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.11	0.37	-0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.52	-0.24

Correlation

The correlation between FSGS and SMMV is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FSGS vs. SMMV - Dividend Comparison

FSGS has not paid dividends to shareholders, while SMMV's dividend yield for the trailing twelve months is around 1.76%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FSGS First Trust SMID Growth Strength ETF	0.00%	0.00%	2.71%	2.29%	1.95%	1.35%	1.32%	1.77%	2.13%	1.15%	0.00%
SMMV iShares MSCI USA Small-Cap Min Vol Factor ETF	1.76%	1.77%	1.76%	2.30%	1.67%	1.08%	1.39%	1.64%	1.72%	1.63%	0.79%

Drawdowns

FSGS vs. SMMV - Drawdown Comparison

The maximum FSGS drawdown since its inception was -43.26%, which is greater than SMMV's maximum drawdown of -38.77%. Use the drawdown chart below to compare losses from any high point for FSGS and SMMV.

Drawdown Indicators

	FSGS	SMMV	Difference
Max Drawdown Largest peak-to-trough decline	-43.26%	-38.77%	-4.49%
Max Drawdown (1Y) Largest decline over 1 year	-11.84%	-9.62%	-2.22%
Max Drawdown (5Y) Largest decline over 5 years	-24.08%	-18.00%	-6.08%
Current Drawdown Current decline from peak	-9.71%	-5.29%	-4.42%
Average Drawdown Average peak-to-trough decline	-8.08%	-5.13%	-2.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.89%	2.24%	+1.65%

Volatility

FSGS vs. SMMV - Volatility Comparison

First Trust SMID Growth Strength ETF (FSGS) has a higher volatility of 5.40% compared to iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV) at 3.42%. This indicates that FSGS's price experiences larger fluctuations and is considered to be riskier than SMMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSGS	SMMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.40%	3.42%	+1.98%
Volatility (6M) Calculated over the trailing 6-month period	11.33%	6.73%	+4.60%
Volatility (1Y) Calculated over the trailing 1-year period	19.90%	13.06%	+6.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.16%	13.55%	+6.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.95%	15.79%	+7.16%