MJ vs. ASCE

Last updated Jun 4, 2026

MJ (ETFMG Alternative Harvest ETF) and ASCE (Allspring SMID Core ETF) are both Small Cap Blend Equities funds. MJ is passively managed, while ASCE is actively managed. At a 0.37 correlation, their price movements are largely independent. MJ charges 0.75%/yr vs 0.38%/yr for ASCE.

Performance

MJ vs. ASCE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETFMG Alternative Harvest ETF (MJ) and Allspring SMID Core ETF (ASCE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MJ achieves a -14.07% return, which is significantly lower than ASCE's 22.25% return.

MJ

• 1D: -3.25%
• 1M: -5.09%
• YTD: -14.07%
• 6M: 1.76%
• 1Y: 40.95%
• 3Y*: -7.86%
• 5Y*: -35.31%
• 10Y*: —

ASCE

• 1D: -0.38%
• 1M: 5.38%
• YTD: 22.25%
• 6M: 21.06%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MJ vs. ASCE - Yearly Performance Comparison

	2026 (YTD)	2025
MJ ETFMG Alternative Harvest ETF	-14.07%	51.59%
ASCE Allspring SMID Core ETF	22.25%	8.61%

Correlation

The correlation between MJ and ASCE is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025	0.37

Return for Risk

MJ vs. ASCE — Risk / Return Rank

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

MJ

MJ Risk / Return Rank: 21
MJ Sharpe Ratio Rank: 16
MJ Sortino Ratio Rank: 27
MJ Omega Ratio Rank: 25
MJ Calmar Ratio Rank: 19
MJ Martin Ratio Rank: 16

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.

MJ vs. ASCE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETFMG Alternative Harvest ETF (MJ) and Allspring SMID Core ETF (ASCE). 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.

	MJ	ASCE	Difference
Sharpe ratio Return per unit of total volatility	0.47	—	—
Sortino ratio Return per unit of downside risk	1.51	—	—
Omega ratio Gain probability vs. loss probability	1.17	—	—
Calmar ratio Return relative to maximum drawdown	0.85	—	—
Martin ratio Return relative to average drawdown	1.52	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	MJ	ASCE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.47	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.59	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.48	1.92	-2.40

Drawdowns

MJ vs. ASCE - Drawdown Comparison

The maximum MJ drawdown since its inception was -96.55%, which is greater than ASCE's maximum drawdown of -9.22%. Use the drawdown chart below to compare losses from any high point for MJ and ASCE.

Drawdown Indicators

	MJ	ASCE	Difference
Max Drawdown Largest peak-to-trough decline	-96.55%	-9.22%	-87.33%
Max Drawdown (1Y) Largest decline over 1 year	-48.66%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-69.73%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-93.27%	—	—
Current Drawdown Current decline from peak	-94.45%	-0.38%	-94.07%
Average Drawdown Average peak-to-trough decline	-69.20%	-2.10%	-67.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.08%	—	—

Volatility

Volatility by Period

	MJ	ASCE	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.92%	—	—
Volatility (6M) Calculated over the trailing 6-month period	59.46%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	86.70%	19.25%	+67.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.89%	19.25%	+40.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.74%	19.25%	+36.49%

MJ vs. ASCE - Expense Ratio Comparison

MJ has a 0.75% expense ratio, which is higher than ASCE's 0.38% expense ratio.

Dividends

MJ vs. ASCE - Dividend Comparison

MJ's dividend yield for the trailing twelve months is around 2.31%, more than ASCE's 0.18% yield.

Position	TTM	2025	2024
ASCE Allspring SMID Core ETF	0.18%	0.22%	0.00%
MJ ETFMG Alternative Harvest ETF	2.31%	1.98%	13.80%

Frequently Asked Questions

Can I hold both MJ and ASCE in my portfolio?

MJ and ASCE have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MJ or ASCE?

On fees, ASCE is cheaper at 0.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MJ or ASCE?

ASCE is cheaper with a 0.38% expense ratio, compared with 0.75% for MJ.

Which ETF pays a higher dividend yield, MJ or ASCE?

MJ has the higher dividend yield at 2.31%, compared with 0.18% for ASCE.

What is the main difference between MJ and ASCE?

They also come from different issuers: ETFMG and Allspring. Their fees differ too: 0.75% for MJ and 0.38% for ASCE.