SIXH vs. SMVLX

Last updated Jun 4, 2026

SIXH (6 Meridian Hedged Equity-Index Option Strategy ETF) and SMVLX (Smead Value Fund) are both funds - SIXH is a Volatility Hedged Equity fund actively managed by Exchange Traded Concepts, while SMVLX is a Large Cap Value Equities fund managed by Smead Funds. Over the past 5 years, SIXH returned 8.95%/yr vs 9.52%/yr for SMVLX. A 0.58 correlation means they provide meaningful diversification when combined. SIXH charges 0.87%/yr vs 1.26%/yr for SMVLX.

Performance

SIXH vs. SMVLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) and Smead Value Fund (SMVLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SIXH achieves a 7.20% return, which is significantly lower than SMVLX's 13.63% return.

SIXH

• 1D: 0.48%
• 1M: -0.21%
• YTD: 7.20%
• 6M: 8.70%
• 1Y: 10.61%
• 3Y*: 12.22%
• 5Y*: 8.95%
• 10Y*: —

SMVLX

• 1D: 0.61%
• 1M: 0.39%
• YTD: 13.63%
• 6M: 11.21%
• 1Y: 28.87%
• 3Y*: 13.91%
• 5Y*: 9.52%
• 10Y*: 12.13%

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

SIXH vs. SMVLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF	7.20%	9.47%	12.06%	4.93%	6.90%	18.37%	5.83%
SMVLX Smead Value Fund	13.63%	5.05%	4.78%	16.87%	-2.79%	42.46%	30.74%

Correlation

The correlation between SIXH and SMVLX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (All Time) Calculated using the full available price history since May 12, 2020	0.58

The correlation between SIXH and SMVLX shifts across timeframes, from 0.47 (1 year) to 0.58 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

SIXH vs. SMVLX — Risk / Return Rank

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

SIXH

SIXH Risk / Return Rank: 42
SIXH Sharpe Ratio Rank: 39
SIXH Sortino Ratio Rank: 43
SIXH Omega Ratio Rank: 38
SIXH Calmar Ratio Rank: 49
SIXH Martin Ratio Rank: 39

SMVLX

SMVLX Risk / Return Rank: 67
SMVLX Sharpe Ratio Rank: 54
SMVLX Sortino Ratio Rank: 57
SMVLX Omega Ratio Rank: 50
SMVLX Calmar Ratio Rank: 93
SMVLX Martin Ratio Rank: 81

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.

SIXH vs. SMVLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) and Smead Value Fund (SMVLX). 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.

	SIXH	SMVLX	Difference
Sharpe ratio: Return per unit of total volatility	1.40	2.17	-0.77
Sortino ratio: Return per unit of downside risk	2.18	3.17	-0.99
Omega ratio: Gain probability vs. loss probability	1.25	1.38	-0.13
Calmar ratio: Return relative to maximum drawdown	2.44	5.20	-2.76
Martin ratio: Return relative to average drawdown	6.25	15.13	-8.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SIXH vs. SMVLX - Sharpe Ratio Comparison

The current SIXH Sharpe Ratio is 1.40, which is lower than the SMVLX Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of SIXH and SMVLX, 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

	SIXH	SMVLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.40	2.17	-0.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.87	0.52	+0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.63	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.05	0.70	+0.35

Drawdowns

SIXH vs. SMVLX - Drawdown Comparison

The maximum SIXH drawdown since its inception was -11.68%, smaller than the maximum SMVLX drawdown of -39.56%. Use the drawdown chart below to compare losses from any high point for SIXH and SMVLX.

Drawdown Indicators

	SIXH	SMVLX	Difference
Max Drawdown Largest peak-to-trough decline	-11.68%	-39.56%	+27.88%
Max Drawdown (1Y) Largest decline over 1 year	-4.36%	-5.90%	+1.54%
Max Drawdown (3Y) Largest decline over 3 years	-9.10%	-24.62%	+15.52%
Max Drawdown (5Y) Largest decline over 5 years	-11.68%	-24.62%	+12.94%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.56%	—
Current Drawdown Current decline from peak	-2.42%	-0.64%	-1.78%
Average Drawdown Average peak-to-trough decline	-1.85%	-4.59%	+2.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.70%	2.03%	-0.33%

Volatility

SIXH vs. SMVLX - Volatility Comparison

The current volatility for 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) is 2.31%, while Smead Value Fund (SMVLX) has a volatility of 2.85%. This indicates that SIXH experiences smaller price fluctuations and is considered to be less risky than SMVLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIXH	SMVLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.31%	2.85%	-0.54%
Volatility (6M) Calculated over the trailing 6-month period	6.02%	8.94%	-2.92%
Volatility (1Y) Calculated over the trailing 1-year period	7.60%	14.15%	-6.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.37%	18.36%	-7.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.15%	19.47%	-9.32%

SIXH vs. SMVLX - Expense Ratio Comparison

SIXH has a 0.87% expense ratio, which is lower than SMVLX's 1.26% expense ratio.

Dividends

SIXH vs. SMVLX - Dividend Comparison

SIXH's dividend yield for the trailing twelve months is around 1.90%, more than SMVLX's 1.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF	1.90%	2.23%	1.55%	2.04%	2.06%	1.65%	1.10%	0.00%	0.00%	0.00%	0.00%	0.00%
SMVLX Smead Value Fund	1.47%	1.67%	1.08%	1.34%	1.78%	3.91%	1.40%	3.83%	7.47%	0.22%	3.14%	3.10%

Frequently Asked Questions

Can I hold both SIXH and SMVLX in my portfolio?

SIXH and SMVLX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIXH or SMVLX?

SMVLX has higher volatility (2.85%) compared to SIXH (2.31%). In terms of maximum drawdown, SIXH dropped -11.68% vs SMVLX's -39.56%.

Which has better risk-adjusted returns?

SMVLX currently has the higher Sharpe Ratio (2.17 vs 1.40), 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.