RB vs. SMLF

Last updated Jun 4, 2026

RB (ProShares Russell 2000 Dynamic Daily Buffer ETF) and SMLF (iShares MSCI USA Small-Cap Multifactor ETF) are both exchange-traded funds - RB is a Defined Outcome fund tracking the Russell 2000, while SMLF is a Small Cap Blend Equities fund tracking the MSCI USA Small Cap Diversified Multi-Factor. Both are passively managed. A 0.77 correlation means they provide meaningful diversification when combined. RB charges 0.58%/yr vs 0.30%/yr for SMLF.

Performance

RB vs. SMLF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Russell 2000 Dynamic Daily Buffer ETF (RB) and iShares MSCI USA Small-Cap Multifactor ETF (SMLF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RB achieves a 6.76% return, which is significantly lower than SMLF's 14.46% return.

RB

• 1D: -0.17%
• 1M: 1.63%
• YTD: 6.76%
• 6M: 8.48%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SMLF

• 1D: -0.72%
• 1M: 4.07%
• YTD: 14.46%
• 6M: 14.20%
• 1Y: 30.98%
• 3Y*: 19.85%
• 5Y*: 10.89%
• 10Y*: 12.36%

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

RB vs. SMLF - Yearly Performance Comparison

	2026 (YTD)	2025
RB ProShares Russell 2000 Dynamic Daily Buffer ETF	6.76%	10.58%
SMLF iShares MSCI USA Small-Cap Multifactor ETF	14.46%	11.66%

Correlation

The correlation between RB and SMLF is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 27, 2025	0.77

Return for Risk

RB vs. SMLF — Risk / Return Rank

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

SMLF

SMLF Risk / Return Rank: 58
SMLF Sharpe Ratio Rank: 52
SMLF Sortino Ratio Rank: 52
SMLF Omega Ratio Rank: 48
SMLF Calmar Ratio Rank: 71
SMLF Martin Ratio Rank: 66

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.

RB vs. SMLF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Russell 2000 Dynamic Daily Buffer ETF (RB) and iShares MSCI USA Small-Cap Multifactor ETF (SMLF). 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.

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

Sharpe Ratios by Period

	RB	SMLF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.81	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.52	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.57	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.15	0.54	+2.61

Drawdowns

RB vs. SMLF - Drawdown Comparison

The maximum RB drawdown since its inception was -1.70%, smaller than the maximum SMLF drawdown of -41.89%. Use the drawdown chart below to compare losses from any high point for RB and SMLF.

Drawdown Indicators

	RB	SMLF	Difference
Max Drawdown Largest peak-to-trough decline	-1.70%	-41.89%	+40.19%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.71%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-26.28%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.28%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.89%	—
Current Drawdown Current decline from peak	-0.47%	-0.72%	+0.25%
Average Drawdown Average peak-to-trough decline	-0.41%	-6.60%	+6.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.53%	—

Volatility

Volatility by Period

	RB	SMLF	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.80%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.31%	—
Volatility (1Y) Calculated over the trailing 1-year period	6.21%	17.21%	-11.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.21%	21.09%	-14.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.21%	21.78%	-15.57%

RB vs. SMLF - Expense Ratio Comparison

RB has a 0.58% expense ratio, which is higher than SMLF's 0.30% expense ratio.

Dividends

RB vs. SMLF - Dividend Comparison

RB's dividend yield for the trailing twelve months is around 2.00%, more than SMLF's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RB ProShares Russell 2000 Dynamic Daily Buffer ETF	2.00%	1.78%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SMLF iShares MSCI USA Small-Cap Multifactor ETF	1.03%	1.14%	1.33%	1.13%	1.23%	1.07%	1.33%	1.39%	1.17%	0.93%	0.78%	0.79%

Frequently Asked Questions

Can I hold both RB and SMLF in my portfolio?

RB and SMLF have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RB or SMLF?

On fees, SMLF is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RB or SMLF?

SMLF is cheaper with a 0.30% expense ratio, compared with 0.58% for RB.

Which ETF pays a higher dividend yield, RB or SMLF?

RB has the higher dividend yield at 2.00%, compared with 1.03% for SMLF.

What is the main difference between RB and SMLF?

RB is categorized as Defined Outcome, while SMLF is Small Cap Blend Equities. RB tracks Russell 2000, while SMLF tracks MSCI USA Small Cap Diversified Multi-Factor. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.58% for RB and 0.30% for SMLF.