MGV vs. SMRI

Last updated Aug 4, 2026

MGV (Vanguard Mega Cap Value ETF) and SMRI (Bushido Capital US Equity ETF) are both Large Cap Value Equities funds. MGV is passively managed, while SMRI is actively managed. Over the past year, MGV returned 29.26% vs 41.31% for SMRI. Their 0.76 correlation means they have sometimes moved together and sometimes differently. MGV charges 0.05%/yr vs 0.71%/yr for SMRI.

Performance

MGV vs. SMRI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Mega Cap Value ETF (MGV) 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, MGV achieves a 17.26% return, which is significantly lower than SMRI's 23.66% return.

MGV

• 1D: 0.42%
• 1M: -0.09%
• 6M: 10.64%
• YTD: 17.26%
• 1Y: 29.26%
• 3Y*: 18.40%
• 5Y*: 12.90%
• 10Y*: 12.76%
• ALL TIME*: 9.32%

SMRI

• 1D: 0.51%
• 1M: 6.05%
• 6M: 23.81%
• YTD: 23.66%
• 1Y: 41.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 23.09%

*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)
MGV Vanguard Mega Cap Value ETF	$37.79M	$38.66M	$40.05M
SMRI Bushido Capital US Equity ETF	$788.40K	$487.27K	$377.44K

MGV vs. SMRI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MGV Vanguard Mega Cap Value ETF	17.26%	15.45%	16.94%	5.54%
SMRI Bushido Capital US Equity ETF	23.66%	17.41%	19.16%	5.27%

Correlation

The correlation between MGV 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 Sep 14, 2023	0.76

The correlation between MGV and SMRI shifts across timeframes, from 0.60 (1 year) to 0.76 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MGV vs. SMRI — Risk / Return Rank

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

MGV

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

SMRI

SMRI Risk / Return Rank: 94
SMRI Sharpe Ratio Rank: 94
SMRI Sortino Ratio Rank: 94
SMRI Omega Ratio Rank: 93
SMRI Calmar Ratio Rank: 96
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.

MGV vs. SMRI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Mega Cap Value ETF (MGV) 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.

	MGV	SMRI	Difference
Sharpe ratio: Return per unit of total volatility	2.88	2.81	+0.08
Sortino ratio: Return per unit of downside risk	4.09	3.89	+0.20
Omega ratio: Gain probability vs. loss probability	1.52	1.50	+0.03
Calmar ratio: Return relative to maximum drawdown	4.58	6.10	-1.52
Martin ratio: Return relative to average drawdown	17.81	17.90	-0.09

MGV vs. SMRI - Sharpe Ratio Comparison

The current MGV Sharpe Ratio is 2.88, which is comparable to the SMRI Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of MGV 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

MGV vs. SMRI - Drawdown Comparison

The maximum MGV drawdown since its inception was -56.07%, which is greater than SMRI's maximum drawdown of -18.45%. Use the drawdown chart below to compare losses from any high point for MGV and SMRI.

Drawdown Indicators

	MGV	SMRI	Difference
Max Drawdown Largest peak-to-trough decline	-56.07%	-18.45%	-37.62%
Max Drawdown (1Y) Largest decline over 1 year	-6.42%	-6.80%	+0.38%
Max Drawdown (3Y) Largest decline over 3 years	-13.18%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-16.54%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-35.41%	—	—
Current Drawdown Current decline from peak	-0.93%	0.00%	-0.93%
Average Drawdown Average peak-to-trough decline	-7.73%	-2.71%	-5.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.65%	2.31%	-0.66%

Volatility

MGV vs. SMRI - Volatility Comparison

The current volatility for Vanguard Mega Cap Value ETF (MGV) is 2.77%, while Bushido Capital US Equity ETF (SMRI) has a volatility of 3.39%. This indicates that MGV experiences smaller price fluctuations and is considered to be less risky than SMRI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MGV	SMRI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.77%	3.39%	-0.62%
Volatility (6M) Calculated over the trailing 6-month period	7.85%	11.78%	-3.93%
Volatility (1Y) Calculated over the trailing 1-year period	10.21%	14.82%	-4.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.55%	15.83%	-2.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.30%	15.83%	+0.47%

MGV vs. SMRI - Expense Ratio Comparison

MGV has a 0.05% expense ratio, which is lower than SMRI's 0.71% expense ratio.

Dividends

MGV vs. SMRI - Dividend Comparison

MGV's dividend yield for the trailing twelve months is around 1.86%, more than SMRI's 0.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MGV Vanguard Mega Cap Value ETF	1.86%	2.04%	2.31%	2.48%	2.45%	2.17%	2.47%	2.69%	2.65%	2.34%	2.53%	2.59%
SMRI Bushido Capital US Equity ETF	0.85%	1.32%	0.98%	0.45%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MGV and SMRI in my portfolio?

MGV 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, MGV or SMRI?

SMRI has higher volatility (3.39%) compared to MGV (2.77%). In terms of maximum drawdown, MGV dropped -56.07% vs SMRI's -18.45%.

Which ETF is better, MGV or SMRI?

On 1-year performance, SMRI leads with 41.31% vs 29.26% for MGV. On fees, MGV is cheaper at 0.05% per year. On volatility, MGV has been the lower-risk option at 2.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MGV or SMRI?

Over the 1-year period, SMRI has performed better with a 41.31% return vs 29.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MGV or SMRI?

MGV is cheaper with a 0.05% expense ratio, compared with 0.71% for SMRI.

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

MGV has the higher dividend yield at 1.86%, compared with 0.85% for SMRI.

What is the main difference between MGV and SMRI?

They also come from different issuers: Vanguard and Bushido. Their fees differ too: 0.05% for MGV and 0.71% for SMRI.

Which has better risk-adjusted returns?

MGV currently has the higher Sharpe Ratio (2.88 vs 2.81), 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.