LITL vs. HSMV

Last updated Jul 21, 2026

LITL (Simplify Piper Sandler US Small-Cap PLUS Income ETF) and HSMV (First Trust Horizon Managed Volatility Small/Mid ETF) are both Small Cap Blend Equities funds. Over the past year, LITL returned 27.83% vs 11.26% for HSMV. A 0.61 correlation means they provide meaningful diversification when combined. LITL charges 0.91%/yr vs 0.80%/yr for HSMV.

Performance

LITL vs. HSMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Piper Sandler US Small-Cap PLUS Income ETF (LITL) and First Trust Horizon Managed Volatility Small/Mid ETF (HSMV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LITL achieves a 16.34% return, which is significantly higher than HSMV's 10.11% return.

LITL

• 1D: -0.99%
• 1M: 3.67%
• 6M: 12.34%
• YTD: 16.34%
• 1Y: 27.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 30.38%

HSMV

• 1D: -0.60%
• 1M: 4.67%
• 6M: 6.10%
• YTD: 10.11%
• 1Y: 11.26%
• 3Y*: 8.65%
• 5Y*: 5.20%
• 10Y*: —
• ALL TIME*: 11.71%

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

LITL vs. HSMV - Yearly Performance Comparison

	2026 (YTD)	2025
LITL Simplify Piper Sandler US Small-Cap PLUS Income ETF	16.34%	18.93%
HSMV First Trust Horizon Managed Volatility Small/Mid ETF	10.11%	3.14%

Correlation

The correlation between LITL and HSMV is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (All Time) Calculated using the full available price history since Apr 29, 2025	0.61

The correlation between LITL and HSMV has been stable across timeframes, ranging from 0.58 to 0.61 - a consistent structural relationship.

LITL vs. HSMV - Sectors Allocation Comparison

Sectors	LITL	HSMV
Healthcare	21.8%	4.7%
Financial Services	18.1%	17.5%
Technology	14.1%	1.9%
Consumer Cyclical	12.2%	8.3%
Industrials	12.1%	14.9%
Real Estate	5.2%	23.7%
Energy	4.6%	2.8%
Consumer Defensive	4.1%	6.7%
Communication Services	3.9%	2.2%
Basic Materials	2.7%	5.8%
Utilities	1.3%	11.5%

Return for Risk

LITL vs. HSMV — Risk / Return Rank

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

LITL

LITL Risk / Return Rank: 68
LITL Sharpe Ratio Rank: 64
LITL Sortino Ratio Rank: 68
LITL Omega Ratio Rank: 60
LITL Calmar Ratio Rank: 78
LITL Martin Ratio Rank: 70

HSMV

HSMV Risk / Return Rank: 39
HSMV Sharpe Ratio Rank: 40
HSMV Sortino Ratio Rank: 43
HSMV Omega Ratio Rank: 36
HSMV Calmar Ratio Rank: 37
HSMV 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.

LITL vs. HSMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Piper Sandler US Small-Cap PLUS Income ETF (LITL) and First Trust Horizon Managed Volatility Small/Mid ETF (HSMV). 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.

	LITL	HSMV	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.06	+0.48
Sortino ratio: Return per unit of downside risk	2.31	1.68	+0.64
Omega ratio: Gain probability vs. loss probability	1.27	1.18	+0.09
Calmar ratio: Return relative to maximum drawdown	3.00	1.44	+1.55
Martin ratio: Return relative to average drawdown	9.22	4.35	+4.87

LITL vs. HSMV - Sharpe Ratio Comparison

The current LITL Sharpe Ratio is 1.54, which is higher than the HSMV Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of LITL and HSMV, 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

LITL vs. HSMV - Drawdown Comparison

The maximum LITL drawdown since its inception was -9.32%, smaller than the maximum HSMV drawdown of -19.16%. Use the drawdown chart below to compare losses from any high point for LITL and HSMV.

Drawdown Indicators

	LITL	HSMV	Difference
Max Drawdown Largest peak-to-trough decline	-9.32%	-19.16%	+9.84%
Max Drawdown (1Y) Largest decline over 1 year	-9.32%	-7.83%	-1.49%
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	-1.87%	-1.07%	-0.80%
Average Drawdown Average peak-to-trough decline	-2.23%	-5.52%	+3.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.03%	2.59%	+0.44%

Volatility

LITL vs. HSMV - Volatility Comparison

Simplify Piper Sandler US Small-Cap PLUS Income ETF (LITL) and First Trust Horizon Managed Volatility Small/Mid ETF (HSMV) have volatilities of 3.45% and 3.41%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LITL	HSMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.45%	3.41%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	12.37%	7.99%	+4.38%
Volatility (1Y) Calculated over the trailing 1-year period	18.18%	10.69%	+7.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.42%	14.96%	+3.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.42%	15.99%	+2.43%

LITL vs. HSMV - Expense Ratio Comparison

LITL has a 0.91% expense ratio, which is higher than HSMV's 0.80% expense ratio.

Dividends

LITL vs. HSMV - Dividend Comparison

LITL's dividend yield for the trailing twelve months is around 1.50%, less than HSMV's 1.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
HSMV First Trust Horizon Managed Volatility Small/Mid ETF	1.87%	2.01%	1.43%	1.43%	1.26%	0.76%	0.80%
LITL Simplify Piper Sandler US Small-Cap PLUS Income ETF	1.50%	0.71%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LITL and HSMV in my portfolio?

LITL and HSMV have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LITL or HSMV?

LITL has higher volatility (3.45%) compared to HSMV (3.41%). In terms of maximum drawdown, LITL dropped -9.32% vs HSMV's -19.16%.

Which ETF is better, LITL or HSMV?

On 1-year performance, LITL leads with 27.83% vs 11.26% for HSMV. On fees, HSMV is cheaper at 0.80% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LITL or HSMV?

Over the 1-year period, LITL has performed better with a 27.83% return vs 11.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LITL or HSMV?

HSMV is cheaper with a 0.80% expense ratio, compared with 0.91% for LITL.

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

HSMV has the higher dividend yield at 1.87%, compared with 1.50% for LITL.

What is the main difference between LITL and HSMV?

They also come from different issuers: Simplify and First Trust. Their fees differ too: 0.91% for LITL and 0.80% for HSMV.

Which has better risk-adjusted returns?

LITL currently has the higher Sharpe Ratio (1.54 vs 1.06), 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.