MAVF vs. SMRI

Last updated Aug 2, 2026

MAVF (Matrix Advisors Value ETF) and SMRI (Bushido Capital US Equity ETF) are both Large Cap Value Equities funds. Both are actively managed. Over the past year, MAVF returned 27.51% vs 40.59% for SMRI. Their 0.67 correlation means they have sometimes moved together and sometimes differently. MAVF charges 0.75%/yr vs 0.71%/yr for SMRI.

Performance

MAVF vs. SMRI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Matrix Advisors Value ETF (MAVF) and Bushido Capital US Equity ETF (SMRI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MAVF achieves a 13.40% return, which is significantly lower than SMRI's 23.03% return.

MAVF

• 1D: 1.34%
• 1M: 1.14%
• 6M: 8.67%
• YTD: 13.40%
• 1Y: 27.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 22.89%

SMRI

• 1D: 0.38%
• 1M: 5.51%
• 6M: 23.61%
• YTD: 23.03%
• 1Y: 40.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 22.95%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MAVF Matrix Advisors Value ETF	$33.66K	$41.27K	$52.86K
SMRI Bushido Capital US Equity ETF	$770.42K	$508.81K	$403.01K

MAVF vs. SMRI - Yearly Performance Comparison

	2026 (YTD)	2025
MAVF Matrix Advisors Value ETF	13.40%	18.40%
SMRI Bushido Capital US Equity ETF	23.03%	13.59%

Correlation

The correlation between MAVF and SMRI is 0.60, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.60
Correlation (All Time) Calculated using the full available price history since Feb 24, 2025	0.67

The correlation between MAVF and SMRI has been stable across timeframes, ranging from 0.60 to 0.67 - a consistent structural relationship.

Return for Risk

MAVF vs. SMRI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MAVF

MAVF Risk / Return Rank: 71
MAVF Sharpe Ratio Rank: 75
MAVF Sortino Ratio Rank: 73
MAVF Omega Ratio Rank: 71
MAVF Calmar Ratio Rank: 65
MAVF Martin Ratio Rank: 73

SMRI

SMRI Risk / Return Rank: 94
SMRI Sharpe Ratio Rank: 94
SMRI Sortino Ratio Rank: 94
SMRI Omega Ratio Rank: 92
SMRI Calmar Ratio Rank: 95
SMRI Martin Ratio Rank: 93

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MAVF vs. SMRI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matrix Advisors Value ETF (MAVF) and Bushido Capital US Equity ETF (SMRI). 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.

	MAVF	SMRI	Difference
Sharpe ratio: Return per unit of total volatility	1.72	2.64	-0.92
Sortino ratio: Return per unit of downside risk	2.41	3.68	-1.27
Omega ratio: Gain probability vs. loss probability	1.30	1.47	-0.17
Calmar ratio: Return relative to maximum drawdown	2.32	5.75	-3.44
Martin ratio: Return relative to average drawdown	9.18	16.88	-7.70

MAVF vs. SMRI - Sharpe Ratio Comparison

The current MAVF Sharpe Ratio is 1.72, which is lower than the SMRI Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of MAVF and SMRI, 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

MAVF vs. SMRI - Drawdown Comparison

The maximum MAVF drawdown since its inception was -17.13%, smaller than the maximum SMRI drawdown of -18.45%. Use the drawdown chart below to compare losses from any high point for MAVF and SMRI.

Drawdown Indicators

	MAVF	SMRI	Difference
Max Drawdown Largest peak-to-trough decline	-17.13%	-18.45%	+1.32%
Max Drawdown (1Y) Largest decline over 1 year	-10.94%	-6.80%	-4.14%
Current Drawdown Current decline from peak	-1.00%	-0.51%	-0.49%
Average Drawdown Average peak-to-trough decline	-2.47%	-2.72%	+0.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.76%	2.32%	+0.44%

Volatility

MAVF vs. SMRI - Volatility Comparison

Matrix Advisors Value ETF (MAVF) has a higher volatility of 4.32% compared to Bushido Capital US Equity ETF (SMRI) at 3.61%. This indicates that MAVF's price experiences larger fluctuations and is considered to be riskier than SMRI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAVF	SMRI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.32%	3.61%	+0.71%
Volatility (6M) Calculated over the trailing 6-month period	11.56%	11.80%	-0.24%
Volatility (1Y) Calculated over the trailing 1-year period	14.75%	15.09%	-0.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.83%	15.84%	+2.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.83%	15.84%	+2.99%

MAVF vs. SMRI - Expense Ratio Comparison

MAVF has a 0.75% expense ratio, which is higher than SMRI's 0.71% expense ratio.

Dividends

MAVF vs. SMRI - Dividend Comparison

MAVF's dividend yield for the trailing twelve months is around 0.37%, less than SMRI's 0.86% yield.

Position	TTM	2025	2024	2023
MAVF Matrix Advisors Value ETF	0.37%	0.42%	0.00%	0.00%
SMRI Bushido Capital US Equity ETF	0.86%	1.32%	0.98%	0.45%

Frequently Asked Questions

Can I hold both MAVF and SMRI in my portfolio?

MAVF and SMRI have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MAVF or SMRI?

MAVF has higher volatility (4.32%) compared to SMRI (3.61%). In terms of maximum drawdown, MAVF dropped -17.13% vs SMRI's -18.45%.

Which ETF is better, MAVF or SMRI?

On 1-year performance, SMRI leads with 40.59% vs 27.51% for MAVF. On fees, SMRI is cheaper at 0.71% per year. On volatility, SMRI has been the lower-risk option at 3.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MAVF or SMRI?

Over the 1-year period, SMRI has performed better with a 40.59% return vs 27.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MAVF or SMRI?

SMRI is cheaper with a 0.71% expense ratio, compared with 0.75% for MAVF.

Which ETF pays a higher dividend yield, MAVF or SMRI?

SMRI has the higher dividend yield at 0.86%, compared with 0.37% for MAVF.

What is the main difference between MAVF and SMRI?

They also come from different issuers: Matrix and Bushido. Their fees differ too: 0.75% for MAVF and 0.71% for SMRI.

Which has better risk-adjusted returns?

SMRI currently has the higher Sharpe Ratio (2.64 vs 1.72), 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.