REGL vs. SMDV

Last updated Jun 23, 2026

REGL (ProShares S&P MidCap 400 Dividend Aristocrats ETF) and SMDV (ProShares Russell 2000 Dividend Growers ETF) are both exchange-traded funds - REGL is a Mid Cap Value Equities fund tracking the S&P MidCap 400 Dividend Aristocrats Index, while SMDV is a Small Cap Blend Equities fund tracking the Russell 2000 Dividend Growth Index. Both are passively managed. Over the past 10 years, REGL returned 9.63%/yr vs 7.45%/yr for SMDV. Their correlation of 0.89 suggests significant overlap in exposure. Both charge a 0.40% expense ratio.

Performance

REGL vs. SMDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares S&P MidCap 400 Dividend Aristocrats ETF (REGL) and ProShares Russell 2000 Dividend Growers ETF (SMDV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, REGL achieves a 7.68% return, which is significantly lower than SMDV's 13.61% return. Over the past 10 years, REGL has outperformed SMDV with an annualized return of 9.63%, while SMDV has yielded a comparatively lower 7.45% annualized return.

REGL

• 1D: 0.16%
• 1M: 1.42%
• YTD: 7.68%
• 6M: 5.73%
• 1Y: 14.91%
• 3Y*: 12.38%
• 5Y*: 7.47%
• 10Y*: 9.63%

SMDV

• 1D: 0.04%
• 1M: 3.61%
• YTD: 13.61%
• 6M: 11.16%
• 1Y: 20.83%
• 3Y*: 11.84%
• 5Y*: 5.77%
• 10Y*: 7.45%

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

REGL vs. SMDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF	7.68%	6.89%	12.26%	5.41%	-0.62%	20.38%	7.50%	18.79%	-3.25%	10.17%
SMDV ProShares Russell 2000 Dividend Growers ETF	13.61%	0.26%	7.03%	8.99%	-5.90%	18.98%	-4.74%	17.23%	-0.58%	4.63%

Correlation

The correlation between REGL and SMDV is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Feb 5, 2015	0.89

The correlation between REGL and SMDV has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.

REGL vs. SMDV - Sectors Allocation Comparison

Sectors	REGL	SMDV
Financial Services	31.0%	32.8%
Industrials	15.2%	21.9%
Utilities	13.7%	15.7%
Consumer Cyclical	10.7%	4.1%
Basic Materials	9.2%	8.3%
Real Estate	7.8%	7.5%
Healthcare	4.6%	1.6%
Energy	3.1%	-
Consumer Defensive	2.8%	4.4%
Technology	1.9%	2.5%
Communication Services	-	1.1%

Return for Risk

REGL vs. SMDV — Risk / Return Rank

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

REGL

REGL Risk / Return Rank: 32
REGL Sharpe Ratio Rank: 32
REGL Sortino Ratio Rank: 34
REGL Omega Ratio Rank: 30
REGL Calmar Ratio Rank: 32
REGL Martin Ratio Rank: 33

SMDV

SMDV Risk / Return Rank: 40
SMDV Sharpe Ratio Rank: 38
SMDV Sortino Ratio Rank: 42
SMDV Omega Ratio Rank: 37
SMDV Calmar Ratio Rank: 44
SMDV Martin Ratio Rank: 41

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.

REGL vs. SMDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares S&P MidCap 400 Dividend Aristocrats ETF (REGL) and ProShares Russell 2000 Dividend Growers ETF (SMDV). 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.

	REGL	SMDV	Difference
Sharpe ratio: Return per unit of total volatility	1.13	1.33	-0.19
Sortino ratio: Return per unit of downside risk	1.74	2.07	-0.33
Omega ratio: Gain probability vs. loss probability	1.20	1.24	-0.04
Calmar ratio: Return relative to maximum drawdown	1.55	2.14	-0.59
Martin ratio: Return relative to average drawdown	4.81	6.49	-1.68

REGL vs. SMDV - Sharpe Ratio Comparison

The current REGL Sharpe Ratio is 1.13, which is comparable to the SMDV Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of REGL and SMDV, 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

REGL vs. SMDV - Drawdown Comparison

The maximum REGL drawdown since its inception was -36.37%, which is greater than SMDV's maximum drawdown of -34.12%. Use the drawdown chart below to compare losses from any high point for REGL and SMDV.

Drawdown Indicators

	REGL	SMDV	Difference
Max Drawdown Largest peak-to-trough decline	-36.37%	-34.12%	-2.25%
Max Drawdown (1Y) Largest decline over 1 year	-9.67%	-9.79%	+0.12%
Max Drawdown (3Y) Largest decline over 3 years	-16.96%	-21.23%	+4.27%
Max Drawdown (5Y) Largest decline over 5 years	-16.96%	-21.23%	+4.27%
Max Drawdown (10Y) Largest decline over 10 years	-36.37%	-34.12%	-2.25%
Current Drawdown Current decline from peak	-2.46%	-0.60%	-1.86%
Average Drawdown Average peak-to-trough decline	-4.08%	-5.91%	+1.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.10%	3.22%	-0.12%

Volatility

REGL vs. SMDV - Volatility Comparison

The current volatility for ProShares S&P MidCap 400 Dividend Aristocrats ETF (REGL) is 3.55%, while ProShares Russell 2000 Dividend Growers ETF (SMDV) has a volatility of 3.98%. This indicates that REGL experiences smaller price fluctuations and is considered to be less risky than SMDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	REGL	SMDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.55%	3.98%	-0.43%
Volatility (6M) Calculated over the trailing 6-month period	9.30%	10.55%	-1.25%
Volatility (1Y) Calculated over the trailing 1-year period	13.26%	15.81%	-2.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.06%	18.61%	-2.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.34%	20.74%	-2.40%

REGL vs. SMDV - Expense Ratio Comparison

Both REGL and SMDV have an expense ratio of 0.40%.

Dividends

REGL vs. SMDV - Dividend Comparison

REGL's dividend yield for the trailing twelve months is around 2.16%, less than SMDV's 2.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF	2.16%	2.32%	2.28%	2.40%	2.32%	2.50%	2.41%	1.96%	2.09%	1.63%	1.20%	1.66%
SMDV ProShares Russell 2000 Dividend Growers ETF	2.32%	2.67%	2.68%	2.69%	2.51%	2.02%	2.13%	2.03%	1.97%	1.84%	1.35%	1.81%

Frequently Asked Questions

Can I hold both REGL and SMDV in my portfolio?

With a correlation of 0.90, REGL and SMDV move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, REGL or SMDV?

SMDV has higher volatility (3.98%) compared to REGL (3.55%). In terms of maximum drawdown, REGL dropped -36.37% vs SMDV's -34.12%.

Which ETF is better, REGL or SMDV?

On 10-year performance, REGL leads with 9.63% vs 7.45% for SMDV. Both ETFs have the same 0.40% expense ratio. On volatility, REGL has been the lower-risk option at 3.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, REGL or SMDV?

Over the 10-year period, REGL has performed better with a 9.63% return vs 7.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, REGL or SMDV?

REGL and SMDV have the same expense ratio: 0.40% per year.

Which ETF pays a higher dividend yield, REGL or SMDV?

SMDV has the higher dividend yield at 2.32%, compared with 2.16% for REGL.

What is the main difference between REGL and SMDV?

REGL is categorized as Mid Cap Value Equities, while SMDV is Small Cap Blend Equities. REGL tracks S&P MidCap 400 Dividend Aristocrats Index, while SMDV tracks Russell 2000 Dividend Growth Index.

Which has better risk-adjusted returns?

SMDV currently has the higher Sharpe Ratio (1.33 vs 1.13), 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.