HSMV vs. SMLF
Compare and contrast key facts about First Trust Horizon Managed Volatility Small/Mid ETF (HSMV) and iShares MSCI USA Small-Cap Multifactor ETF (SMLF).
HSMV and SMLF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HSMV is an actively managed fund by First Trust. It was launched on Apr 6, 2020. SMLF is a passively managed fund by iShares that tracks the performance of the MSCI USA Small Cap Diversified Multi-Factor. It was launched on Apr 28, 2015.
Performance
HSMV vs. SMLF - Performance Comparison
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HSMV vs. SMLF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
HSMV First Trust Horizon Managed Volatility Small/Mid ETF | 1.79% | 1.57% | 13.17% | 5.01% | -9.44% | 23.72% | 34.70% |
SMLF iShares MSCI USA Small-Cap Multifactor ETF | 1.08% | 12.30% | 16.33% | 19.99% | -12.19% | 26.53% | 55.95% |
Returns By Period
In the year-to-date period, HSMV achieves a 1.79% return, which is significantly higher than SMLF's 1.08% return.
HSMV
- 1D
- 0.83%
- 1M
- -5.20%
- YTD
- 1.79%
- 6M
- 0.63%
- 1Y
- 2.50%
- 3Y*
- 7.20%
- 5Y*
- 4.19%
- 10Y*
- —
SMLF
- 1D
- 3.34%
- 1M
- -4.37%
- YTD
- 1.08%
- 6M
- 2.12%
- 1Y
- 22.93%
- 3Y*
- 15.22%
- 5Y*
- 8.55%
- 10Y*
- 11.24%
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HSMV vs. SMLF - Expense Ratio Comparison
HSMV has a 0.80% expense ratio, which is higher than SMLF's 0.30% expense ratio.
Return for Risk
HSMV vs. SMLF — Risk / Return Rank
HSMV
SMLF
HSMV vs. SMLF - 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 iShares MSCI USA Small-Cap Multifactor ETF (SMLF). 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 | SMLF | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.18 | 1.02 | -0.83 |
Sortino ratioReturn per unit of downside risk | 0.36 | 1.55 | -1.18 |
Omega ratioGain probability vs. loss probability | 1.05 | 1.21 | -0.16 |
Calmar ratioReturn relative to maximum drawdown | 0.30 | 1.56 | -1.26 |
Martin ratioReturn relative to average drawdown | 1.11 | 6.74 | -5.63 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HSMV | SMLF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.18 | 1.02 | -0.83 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.28 | 0.41 | -0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.52 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.67 | 0.49 | +0.19 |
Correlation
The correlation between HSMV and SMLF is 0.87, 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
HSMV vs. SMLF - Dividend Comparison
HSMV's dividend yield for the trailing twelve months is around 2.03%, more than SMLF's 1.17% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HSMV First Trust Horizon Managed Volatility Small/Mid ETF | 2.03% | 2.01% | 1.43% | 1.43% | 1.26% | 0.76% | 0.80% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SMLF iShares MSCI USA Small-Cap Multifactor ETF | 1.17% | 1.14% | 1.33% | 1.13% | 1.23% | 1.07% | 1.33% | 1.39% | 1.17% | 0.93% | 0.78% | 0.79% |
Drawdowns
HSMV vs. SMLF - Drawdown Comparison
The maximum HSMV drawdown since its inception was -19.16%, smaller than the maximum SMLF drawdown of -41.89%. Use the drawdown chart below to compare losses from any high point for HSMV and SMLF.
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Drawdown Indicators
| HSMV | SMLF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.16% | -41.89% | +22.73% |
Max Drawdown (1Y)Largest decline over 1 year | -10.57% | -14.59% | +4.02% |
Max Drawdown (5Y)Largest decline over 5 years | -19.16% | -26.28% | +7.12% |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.89% | — |
Current DrawdownCurrent decline from peak | -5.59% | -5.66% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -5.71% | -6.68% | +0.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.89% | 3.38% | -0.49% |
Volatility
HSMV vs. SMLF - Volatility Comparison
The current volatility for First Trust Horizon Managed Volatility Small/Mid ETF (HSMV) is 3.53%, while iShares MSCI USA Small-Cap Multifactor ETF (SMLF) has a volatility of 7.09%. This indicates that HSMV experiences smaller price fluctuations and is considered to be less risky than SMLF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HSMV | SMLF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.53% | 7.09% | -3.56% |
Volatility (6M)Calculated over the trailing 6-month period | 7.15% | 13.36% | -6.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.63% | 22.67% | -9.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.02% | 21.14% | -6.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.19% | 21.75% | -5.56% |