HSMV vs. DFMC

Last updated Jun 4, 2026

HSMV (First Trust Horizon Managed Volatility Small/Mid ETF) and DFMC (Dimensional US Micro Cap Portfolio ETF) are both Small Cap Blend Equities funds. Both are actively managed. A 0.77 correlation means they provide meaningful diversification when combined. HSMV charges 0.80%/yr vs 0.41%/yr for DFMC.

Performance

HSMV vs. DFMC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Horizon Managed Volatility Small/Mid ETF (HSMV) and Dimensional US Micro Cap Portfolio ETF (DFMC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HSMV

• 1D: -0.50%
• 1M: -2.09%
• YTD: 3.11%
• 6M: 3.06%
• 1Y: 4.19%
• 3Y*: 8.36%
• 5Y*: 3.69%
• 10Y*: —

DFMC

• 1D: -1.12%
• 1M: 1.77%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HSMV vs. DFMC - Yearly Performance Comparison

	2026 (YTD)
HSMV First Trust Horizon Managed Volatility Small/Mid ETF	2.27%
DFMC Dimensional US Micro Cap Portfolio ETF	11.97%

Correlation

The correlation between HSMV and DFMC is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 24, 2026	0.77

Return for Risk

HSMV vs. DFMC — Risk / Return Rank

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

HSMV

HSMV Risk / Return Rank: 15
HSMV Sharpe Ratio Rank: 15
HSMV Sortino Ratio Rank: 15
HSMV Omega Ratio Rank: 14
HSMV Calmar Ratio Rank: 16
HSMV Martin Ratio Rank: 17

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.

HSMV vs. DFMC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Horizon Managed Volatility Small/Mid ETF (HSMV) and Dimensional US Micro Cap Portfolio ETF (DFMC). 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.

	HSMV	DFMC	Difference
Sharpe ratio: Return per unit of total volatility	0.41	—	—
Sortino ratio: Return per unit of downside risk	0.68	—	—
Omega ratio: Gain probability vs. loss probability	1.07	—	—
Calmar ratio: Return relative to maximum drawdown	0.54	—	—
Martin ratio: Return relative to average drawdown	1.62	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	HSMV	DFMC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.41	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	4.79	-4.12

Drawdowns

HSMV vs. DFMC - Drawdown Comparison

The maximum HSMV drawdown since its inception was -19.16%, which is greater than DFMC's maximum drawdown of -4.29%. Use the drawdown chart below to compare losses from any high point for HSMV and DFMC.

Drawdown Indicators

	HSMV	DFMC	Difference
Max Drawdown Largest peak-to-trough decline	-19.16%	-4.29%	-14.87%
Max Drawdown (1Y) Largest decline over 1 year	-7.83%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-15.45%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-19.16%	—	—
Current Drawdown Current decline from peak	-4.36%	-1.12%	-3.24%
Average Drawdown Average peak-to-trough decline	-5.62%	-0.84%	-4.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.59%	—	—

Volatility

Volatility by Period

	HSMV	DFMC	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.85%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.28%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.37%	16.19%	-5.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.00%	16.19%	-1.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.06%	16.19%	-0.13%

HSMV vs. DFMC - Expense Ratio Comparison

HSMV has a 0.80% expense ratio, which is higher than DFMC's 0.41% expense ratio.

Dividends

HSMV vs. DFMC - Dividend Comparison

HSMV's dividend yield for the trailing twelve months is around 2.00%, while DFMC has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
DFMC Dimensional US Micro Cap Portfolio ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HSMV First Trust Horizon Managed Volatility Small/Mid ETF	2.00%	2.01%	1.43%	1.43%	1.26%	0.76%	0.80%

Frequently Asked Questions

Can I hold both HSMV and DFMC in my portfolio?

HSMV and DFMC have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HSMV or DFMC?

On fees, DFMC is cheaper at 0.41% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HSMV or DFMC?

DFMC is cheaper with a 0.41% expense ratio, compared with 0.80% for HSMV.

Which ETF pays a higher dividend yield, HSMV or DFMC?

HSMV has the higher dividend yield at 2.00%, compared with 0.00% for DFMC.

What is the main difference between HSMV and DFMC?

They also come from different issuers: First Trust and Dimensional Fund Advisors. Their fees differ too: 0.80% for HSMV and 0.41% for DFMC.