SAWS vs. ESML

Last updated Apr 17, 2026

SAWS (AAM Sawgrass U.S. Small Cap Quality Growth ETF) and ESML (iShares ESG Aware MSCI USA Small-Cap ETF) are both Small Cap Growth Equities funds. SAWS is actively managed, while ESML is passively managed. Over the past year, SAWS returned 25.24% vs 43.41% for ESML. Their correlation of 0.89 suggests significant overlap in exposure. SAWS charges 0.55%/yr vs 0.17%/yr for ESML.

Performance

SAWS vs. ESML - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AAM Sawgrass U.S. Small Cap Quality Growth ETF (SAWS) and iShares ESG Aware MSCI USA Small-Cap ETF (ESML). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SAWS achieves a 7.63% return, which is significantly lower than ESML's 9.70% return.

SAWS

• 1D: -0.05%
• 1M: 5.88%
• YTD: 7.63%
• 6M: 9.50%
• 1Y: 25.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ESML

• 1D: 0.38%
• 1M: 6.29%
• YTD: 9.70%
• 6M: 12.51%
• 1Y: 43.41%
• 3Y*: 15.41%
• 5Y*: 6.15%
• 10Y*: —

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

SAWS vs. ESML - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SAWS AAM Sawgrass U.S. Small Cap Quality Growth ETF	7.63%	7.26%	3.52%
ESML iShares ESG Aware MSCI USA Small-Cap ETF	9.70%	10.62%	2.00%

Correlation

The correlation between SAWS and ESML is 0.85, 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	0.85
Correlation (All Time) Calculated using the full available price history since Aug 1, 2024	0.89

The correlation between SAWS and ESML has been stable across timeframes, ranging from 0.85 to 0.89 — a consistent structural relationship.

Return for Risk

SAWS vs. ESML — Risk / Return Rank

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

SAWS

SAWS Risk / Return Rank: 32
SAWS Sharpe Ratio Rank: 29
SAWS Sortino Ratio Rank: 30
SAWS Omega Ratio Rank: 27
SAWS Calmar Ratio Rank: 37
SAWS Martin Ratio Rank: 37

ESML

ESML Risk / Return Rank: 72
ESML Sharpe Ratio Rank: 69
ESML Sortino Ratio Rank: 70
ESML Omega Ratio Rank: 64
ESML Calmar Ratio Rank: 80
ESML Martin Ratio Rank: 79

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.

SAWS vs. ESML - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAM Sawgrass U.S. Small Cap Quality Growth ETF (SAWS) and iShares ESG Aware MSCI USA Small-Cap ETF (ESML). 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.

	SAWS	ESML	Difference
Sharpe ratio Return per unit of total volatility	1.40	2.50	-1.10
Sortino ratio Return per unit of downside risk	2.09	3.50	-1.42
Omega ratio Gain probability vs. loss probability	1.24	1.43	-0.18
Calmar ratio Return relative to maximum drawdown	2.37	4.62	-2.25
Martin ratio Return relative to average drawdown	7.98	16.98	-9.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SAWS vs. ESML - Sharpe Ratio Comparison

The current SAWS Sharpe Ratio is 1.40, which is lower than the ESML Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of SAWS and ESML, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SAWS	ESML	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.40	2.50	-1.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.29	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.43	+0.09

Drawdowns

SAWS vs. ESML - Drawdown Comparison

The maximum SAWS drawdown since its inception was -22.04%, smaller than the maximum ESML drawdown of -41.97%. Use the drawdown chart below to compare losses from any high point for SAWS and ESML.

Drawdown Indicators

	SAWS	ESML	Difference
Max Drawdown Largest peak-to-trough decline	-22.04%	-41.97%	+19.93%
Max Drawdown (1Y) Largest decline over 1 year	-10.23%	-9.04%	-1.19%
Max Drawdown (5Y) Largest decline over 5 years	—	-28.61%	—
Current Drawdown Current decline from peak	-1.67%	0.00%	-1.67%
Average Drawdown Average peak-to-trough decline	-5.89%	-9.10%	+3.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.04%	2.46%	+0.58%

Volatility

SAWS vs. ESML - Volatility Comparison

AAM Sawgrass U.S. Small Cap Quality Growth ETF (SAWS) has a higher volatility of 7.20% compared to iShares ESG Aware MSCI USA Small-Cap ETF (ESML) at 6.24%. This indicates that SAWS's price experiences larger fluctuations and is considered to be riskier than ESML based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SAWS	ESML	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.20%	6.24%	+0.96%
Volatility (6M) Calculated over the trailing 6-month period	13.68%	12.50%	+1.18%
Volatility (1Y) Calculated over the trailing 1-year period	18.21%	17.60%	+0.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.26%	21.31%	-0.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.26%	23.52%	-2.26%

SAWS vs. ESML - Expense Ratio Comparison

SAWS has a 0.55% expense ratio, which is higher than ESML's 0.17% expense ratio.

Dividends

SAWS vs. ESML - Dividend Comparison

SAWS's dividend yield for the trailing twelve months is around 0.02%, less than ESML's 1.01% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
SAWS AAM Sawgrass U.S. Small Cap Quality Growth ETF	0.02%	0.02%	0.03%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ESML iShares ESG Aware MSCI USA Small-Cap ETF	1.01%	1.08%	1.22%	1.31%	1.46%	0.94%	0.99%	1.10%	1.07%