MGMT vs. EUSA

Last updated Jun 6, 2026

MGMT (Ballast Small/Mid Cap ETF) and EUSA (iShares MSCI USA Equal Weighted ETF) are both Mid Cap Blend Equities funds. MGMT is actively managed, while EUSA is passively managed. Over the past 5 years, MGMT returned 6.85%/yr vs 7.56%/yr for EUSA. Their correlation of 0.86 suggests significant overlap in exposure. MGMT charges 1.10%/yr vs 0.09%/yr for EUSA.

Performance

MGMT vs. EUSA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ballast Small/Mid Cap ETF (MGMT) and iShares MSCI USA Equal Weighted ETF (EUSA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MGMT achieves a 9.32% return, which is significantly higher than EUSA's 8.32% return.

MGMT

• 1D: -1.62%
• 1M: -1.01%
• YTD: 9.32%
• 6M: 8.68%
• 1Y: 26.29%
• 3Y*: 13.33%
• 5Y*: 6.85%
• 10Y*: —

EUSA

• 1D: -1.56%
• 1M: 1.24%
• YTD: 8.32%
• 6M: 8.05%
• 1Y: 17.54%
• 3Y*: 15.47%
• 5Y*: 7.56%
• 10Y*: 11.40%

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

MGMT vs. EUSA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
MGMT Ballast Small/Mid Cap ETF	9.32%	6.96%	12.95%	17.87%	-14.54%	40.77%	5.36%
EUSA iShares MSCI USA Equal Weighted ETF	8.32%	10.24%	14.64%	17.72%	-17.13%	25.60%	3.06%

Correlation

The correlation between MGMT and EUSA is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since Dec 4, 2020	0.86

The correlation between MGMT and EUSA has been stable across timeframes, ranging from 0.79 to 0.86 - a consistent structural relationship.

MGMT vs. EUSA - Sectors Allocation Comparison

Sectors	MGMT	EUSA
Industrials	23.1%	14.7%
Energy	15.7%	4.6%
Technology	13.6%	21.3%
Basic Materials	13.4%	4.1%
Financial Services	11.1%	14.4%
Consumer Cyclical	8.0%	9.7%
Healthcare	6.2%	10.1%
Consumer Defensive	3.5%	5.2%
Communication Services	3.5%	4.8%
Real Estate	1.8%	5.5%
Utilities	-	5.6%

Return for Risk

MGMT vs. EUSA — Risk / Return Rank

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

MGMT

MGMT Risk / Return Rank: 45
MGMT Sharpe Ratio Rank: 46
MGMT Sortino Ratio Rank: 48
MGMT Omega Ratio Rank: 42
MGMT Calmar Ratio Rank: 46
MGMT Martin Ratio Rank: 43

EUSA

EUSA Risk / Return Rank: 46
EUSA Sharpe Ratio Rank: 44
EUSA Sortino Ratio Rank: 44
EUSA Omega Ratio Rank: 41
EUSA Calmar Ratio Rank: 47
EUSA Martin Ratio Rank: 53

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.

MGMT vs. EUSA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ballast Small/Mid Cap ETF (MGMT) and iShares MSCI USA Equal Weighted ETF (EUSA). 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.

	MGMT	EUSA	Difference
Sharpe ratio: Return per unit of total volatility	1.50	1.48	+0.02
Sortino ratio: Return per unit of downside risk	2.22	2.14	+0.08
Omega ratio: Gain probability vs. loss probability	1.26	1.26	0.00
Calmar ratio: Return relative to maximum drawdown	2.14	2.25	-0.11
Martin ratio: Return relative to average drawdown	6.50	8.92	-2.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MGMT vs. EUSA - Sharpe Ratio Comparison

The current MGMT Sharpe Ratio is 1.50, which is comparable to the EUSA Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of MGMT and EUSA, 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

	MGMT	EUSA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.50	1.48	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	0.45	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.62	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	0.70	-0.03

Drawdowns

MGMT vs. EUSA - Drawdown Comparison

The maximum MGMT drawdown since its inception was -24.95%, smaller than the maximum EUSA drawdown of -39.16%. Use the drawdown chart below to compare losses from any high point for MGMT and EUSA.

Drawdown Indicators

	MGMT	EUSA	Difference
Max Drawdown Largest peak-to-trough decline	-24.95%	-39.16%	+14.21%
Max Drawdown (1Y) Largest decline over 1 year	-12.32%	-7.82%	-4.50%
Max Drawdown (3Y) Largest decline over 3 years	-23.76%	-18.20%	-5.56%
Max Drawdown (5Y) Largest decline over 5 years	-24.95%	-25.24%	+0.29%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.16%	—
Current Drawdown Current decline from peak	-3.14%	-1.56%	-1.58%
Average Drawdown Average peak-to-trough decline	-6.74%	-4.59%	-2.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.06%	1.97%	+2.09%

Volatility

MGMT vs. EUSA - Volatility Comparison

Ballast Small/Mid Cap ETF (MGMT) has a higher volatility of 4.46% compared to iShares MSCI USA Equal Weighted ETF (EUSA) at 3.29%. This indicates that MGMT's price experiences larger fluctuations and is considered to be riskier than EUSA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MGMT	EUSA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.46%	3.29%	+1.17%
Volatility (6M) Calculated over the trailing 6-month period	11.97%	8.87%	+3.10%
Volatility (1Y) Calculated over the trailing 1-year period	17.59%	11.91%	+5.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.54%	16.96%	+2.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.57%	18.34%	+1.23%

MGMT vs. EUSA - Expense Ratio Comparison

MGMT has a 1.10% expense ratio, which is higher than EUSA's 0.09% expense ratio.

Dividends

MGMT vs. EUSA - Dividend Comparison

MGMT's dividend yield for the trailing twelve months is around 0.31%, less than EUSA's 1.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EUSA iShares MSCI USA Equal Weighted ETF	1.53%	1.63%	1.47%	1.53%	1.73%	1.23%	1.45%	1.49%	2.01%	1.50%	1.59%	2.21%
MGMT Ballast Small/Mid Cap ETF	0.31%	0.34%	0.51%	1.16%	0.90%	0.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MGMT and EUSA in my portfolio?

MGMT and EUSA have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MGMT or EUSA?

MGMT has higher volatility (4.46%) compared to EUSA (3.29%). In terms of maximum drawdown, MGMT dropped -24.95% vs EUSA's -39.16%.

Which ETF is better, MGMT or EUSA?

On 5-year performance, EUSA leads with 7.56% vs 6.85% for MGMT. On fees, EUSA is cheaper at 0.09% per year. On volatility, EUSA has been the lower-risk option at 3.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MGMT or EUSA?

Over the 5-year period, EUSA has performed better with a 7.56% return vs 6.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MGMT or EUSA?

EUSA is cheaper with a 0.09% expense ratio, compared with 1.10% for MGMT.

Which ETF pays a higher dividend yield, MGMT or EUSA?

EUSA has the higher dividend yield at 1.53%, compared with 0.31% for MGMT.

What is the main difference between MGMT and EUSA?

They also come from different issuers: Inverdale Capital Management LLC and iShares. Their fees differ too: 1.10% for MGMT and 0.09% for EUSA.

Which has better risk-adjusted returns?

MGMT currently has the higher Sharpe Ratio (1.50 vs 1.48), 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.