LGRO vs. SMTH

Last updated Jun 5, 2026

LGRO (Level Four Large Cap Growth Active ETF) and SMTH (ALPS Smith Core Plus Bond ETF) are both exchange-traded funds - LGRO is a Large Cap Growth Equities fund actively managed by ALPS, while SMTH is a Intermediate Core-Plus Bond fund actively managed by ALPS. Both are actively managed. Over the past year, LGRO returned 25.66% vs 4.64% for SMTH. At a 0.20 correlation, their price movements are largely independent. LGRO charges 0.50%/yr vs 0.59%/yr for SMTH.

Performance

LGRO vs. SMTH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Level Four Large Cap Growth Active ETF (LGRO) and ALPS Smith Core Plus Bond ETF (SMTH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LGRO achieves a 8.22% return, which is significantly higher than SMTH's 0.48% return.

LGRO

• 1D: 0.41%
• 1M: 7.37%
• YTD: 8.22%
• 6M: 8.56%
• 1Y: 25.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SMTH

• 1D: 0.14%
• 1M: 0.34%
• YTD: 0.48%
• 6M: 0.37%
• 1Y: 4.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LGRO vs. SMTH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
LGRO Level Four Large Cap Growth Active ETF	8.22%	18.15%	23.95%	6.94%
SMTH ALPS Smith Core Plus Bond ETF	0.48%	6.86%	2.76%	3.49%

Correlation

The correlation between LGRO and SMTH is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (All Time) Calculated using the full available price history since Dec 7, 2023	0.20

LGRO vs. SMTH - Sectors Allocation Comparison

Sectors	LGRO	SMTH
Technology	48.1%	-
Consumer Cyclical	14.4%	-
Communication Services	13.4%	-
Financial Services	9.1%	-
Healthcare	8.1%	-
Industrials	3.0%	-
Energy	2.2%	100.0%
Consumer Defensive	1.8%	-
Basic Materials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

LGRO vs. SMTH — Risk / Return Rank

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

LGRO

LGRO Risk / Return Rank: 42
LGRO Sharpe Ratio Rank: 48
LGRO Sortino Ratio Rank: 46
LGRO Omega Ratio Rank: 46
LGRO Calmar Ratio Rank: 34
LGRO Martin Ratio Rank: 37

SMTH

SMTH Risk / Return Rank: 34
SMTH Sharpe Ratio Rank: 34
SMTH Sortino Ratio Rank: 36
SMTH Omega Ratio Rank: 32
SMTH Calmar Ratio Rank: 35
SMTH Martin Ratio Rank: 34

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.

LGRO vs. SMTH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Level Four Large Cap Growth Active ETF (LGRO) and ALPS Smith Core Plus Bond ETF (SMTH). 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.

	LGRO	SMTH	Difference
Sharpe ratio: Return per unit of total volatility	1.65	1.21	+0.44
Sortino ratio: Return per unit of downside risk	2.25	1.84	+0.41
Omega ratio: Gain probability vs. loss probability	1.29	1.21	+0.08
Calmar ratio: Return relative to maximum drawdown	1.69	1.70	-0.01
Martin ratio: Return relative to average drawdown	5.51	5.10	+0.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LGRO vs. SMTH - Sharpe Ratio Comparison

The current LGRO Sharpe Ratio is 1.65, which is higher than the SMTH Sharpe Ratio of 1.21. The chart below compares the historical Sharpe Ratios of LGRO and SMTH, 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

	LGRO	SMTH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.65	1.21	+0.44
Sharpe Ratio (All Time) Calculated using the full available price history	1.19	1.20	-0.01

Drawdowns

LGRO vs. SMTH - Drawdown Comparison

The maximum LGRO drawdown since its inception was -23.26%, which is greater than SMTH's maximum drawdown of -4.11%. Use the drawdown chart below to compare losses from any high point for LGRO and SMTH.

Drawdown Indicators

	LGRO	SMTH	Difference
Max Drawdown Largest peak-to-trough decline	-23.26%	-4.11%	-19.15%
Max Drawdown (1Y) Largest decline over 1 year	-15.24%	-2.74%	-12.50%
Current Drawdown Current decline from peak	-1.80%	-1.28%	-0.52%
Average Drawdown Average peak-to-trough decline	-3.39%	-1.06%	-2.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.67%	0.91%	+3.76%

Volatility

LGRO vs. SMTH - Volatility Comparison

Level Four Large Cap Growth Active ETF (LGRO) has a higher volatility of 4.01% compared to ALPS Smith Core Plus Bond ETF (SMTH) at 1.30%. This indicates that LGRO's price experiences larger fluctuations and is considered to be riskier than SMTH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LGRO	SMTH	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.01%	1.30%	+2.71%
Volatility (6M) Calculated over the trailing 6-month period	11.40%	2.66%	+8.74%
Volatility (1Y) Calculated over the trailing 1-year period	15.62%	3.89%	+11.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.29%	4.58%	+14.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.29%	4.58%	+14.71%

LGRO vs. SMTH - Expense Ratio Comparison

LGRO has a 0.50% expense ratio, which is lower than SMTH's 0.59% expense ratio.

Dividends

LGRO vs. SMTH - Dividend Comparison

LGRO's dividend yield for the trailing twelve months is around 0.32%, less than SMTH's 4.40% yield.

Position	TTM	2025	2024	2023
LGRO Level Four Large Cap Growth Active ETF	0.32%	0.31%	0.39%	0.26%
SMTH ALPS Smith Core Plus Bond ETF	4.40%	4.46%	4.58%	0.24%

Frequently Asked Questions

Can I hold both LGRO and SMTH in my portfolio?

LGRO and SMTH have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LGRO or SMTH?

LGRO has higher volatility (4.01%) compared to SMTH (1.30%). In terms of maximum drawdown, LGRO dropped -23.26% vs SMTH's -4.11%.

Which ETF is better, LGRO or SMTH?

On 1-year performance, LGRO leads with 25.66% vs 4.64% for SMTH. On fees, LGRO is cheaper at 0.50% per year. On volatility, SMTH has been the lower-risk option at 1.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LGRO or SMTH?

Over the 1-year period, LGRO has performed better with a 25.66% return vs 4.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LGRO or SMTH?

LGRO is cheaper with a 0.50% expense ratio, compared with 0.59% for SMTH.

Which ETF pays a higher dividend yield, LGRO or SMTH?

SMTH has the higher dividend yield at 4.40%, compared with 0.32% for LGRO.

What is the main difference between LGRO and SMTH?

LGRO is categorized as Large Cap Growth Equities, while SMTH is Intermediate Core-Plus Bond. Their fees differ too: 0.50% for LGRO and 0.59% for SMTH.

Which has better risk-adjusted returns?

LGRO currently has the higher Sharpe Ratio (1.65 vs 1.21), 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.