NISM vs. IVSX

Last updated Jul 17, 2026

NISM (NYLI International Small-Mid Cap Equity ETF) and IVSX (Applied Finance IVS International SMID ETF) are both Foreign Small & Mid Cap Equities funds. Both are actively managed. Their correlation of 0.83 suggests significant overlap in exposure. NISM charges 0.70%/yr vs 0.75%/yr for IVSX.

Performance

NISM vs. IVSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NYLI International Small-Mid Cap Equity ETF (NISM) and Applied Finance IVS International SMID ETF (IVSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

NISM

• 1D: -0.57%
• 1M: -1.23%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IVSX

• 1D: -0.31%
• 1M: -0.40%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NISM vs. IVSX - Yearly Performance Comparison

	2026 (YTD)
NISM NYLI International Small-Mid Cap Equity ETF	-1.88%
IVSX Applied Finance IVS International SMID ETF	0.52%

Correlation

The correlation between NISM and IVSX is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 13, 2026	0.84

Return for Risk

NISM vs. IVSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NYLI International Small-Mid Cap Equity ETF (NISM) and Applied Finance IVS International SMID ETF (IVSX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

NISM vs. IVSX - Drawdown Comparison

The maximum NISM drawdown since its inception was -4.35%, smaller than the maximum IVSX drawdown of -11.96%. Use the drawdown chart below to compare losses from any high point for NISM and IVSX.

Drawdown Indicators

	NISM	IVSX	Difference
Max Drawdown Largest peak-to-trough decline	-4.35%	-11.96%	+7.61%
Current Drawdown Current decline from peak	-1.96%	-2.94%	+0.98%
Average Drawdown Average peak-to-trough decline	-1.75%	-4.55%	+2.80%

Volatility

Volatility by Period

	NISM	IVSX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	14.09%	19.12%	-5.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.09%	19.12%	-5.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.09%	19.12%	-5.03%

NISM vs. IVSX - Expense Ratio Comparison

NISM has a 0.70% expense ratio, which is lower than IVSX's 0.75% expense ratio.

Dividends

NISM vs. IVSX - Dividend Comparison

NISM's dividend yield for the trailing twelve months is around 0.24%, while IVSX has not paid dividends to shareholders.

Position	TTM
IVSX Applied Finance IVS International SMID ETF	0.00%
NISM NYLI International Small-Mid Cap Equity ETF	0.24%

Frequently Asked Questions

Can I hold both NISM and IVSX in my portfolio?

NISM and IVSX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NISM or IVSX?

On fees, NISM is cheaper at 0.70% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NISM or IVSX?

NISM is cheaper with a 0.70% expense ratio, compared with 0.75% for IVSX.

Which ETF pays a higher dividend yield, NISM or IVSX?

NISM has the higher dividend yield at 0.24%, compared with 0.00% for IVSX.

What is the main difference between NISM and IVSX?

They also come from different issuers: New York Life Investment Management and Applied Finance. Their fees differ too: 0.70% for NISM and 0.75% for IVSX.