SMAP vs. ASCE

Last updated Jul 1, 2026

SMAP (Amplify Small-Mid Cap Equity ETF) and ASCE (Allspring SMID Core ETF) are both Small Cap Blend Equities funds. A 0.76 correlation means they provide meaningful diversification when combined. SMAP charges 0.60%/yr vs 0.38%/yr for ASCE.

Performance

SMAP vs. ASCE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify Small-Mid Cap Equity ETF (SMAP) and Allspring SMID Core ETF (ASCE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMAP achieves a 7.23% return, which is significantly lower than ASCE's 30.79% return.

SMAP

• 1D: 0.00%
• 1M: 0.00%
• YTD: 7.23%
• 6M: 5.99%
• 1Y: 9.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ASCE

• 1D: 1.51%
• 1M: 7.45%
• YTD: 30.79%
• 6M: 28.30%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMAP vs. ASCE - Yearly Performance Comparison

	2026 (YTD)	2025
SMAP Amplify Small-Mid Cap Equity ETF	7.23%	0.43%
ASCE Allspring SMID Core ETF	30.79%	8.46%

Correlation

The correlation between SMAP and ASCE is 0.76, 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 Jul 8, 2025	0.76

Return for Risk

SMAP vs. ASCE — Risk / Return Rank

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

SMAP

SMAP Risk / Return Rank: 26
SMAP Sharpe Ratio Rank: 24
SMAP Sortino Ratio Rank: 24
SMAP Omega Ratio Rank: 22
SMAP Calmar Ratio Rank: 27
SMAP Martin Ratio Rank: 32

ASCE

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

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.

SMAP vs. ASCE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify Small-Mid Cap Equity ETF (SMAP) and Allspring SMID Core ETF (ASCE). 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.

	SMAP	ASCE	Difference
Sharpe ratio: Return per unit of total volatility	0.78	—	—
Sortino ratio: Return per unit of downside risk	1.24	—	—
Omega ratio: Gain probability vs. loss probability	1.14	—	—
Calmar ratio: Return relative to maximum drawdown	1.22	—	—
Martin ratio: Return relative to average drawdown	4.18	—	—

Drawdowns

SMAP vs. ASCE - Drawdown Comparison

The maximum SMAP drawdown since its inception was -24.12%, which is greater than ASCE's maximum drawdown of -9.22%. Use the drawdown chart below to compare losses from any high point for SMAP and ASCE.

Drawdown Indicators

	SMAP	ASCE	Difference
Max Drawdown Largest peak-to-trough decline	-24.12%	-9.22%	-14.90%
Max Drawdown (1Y) Largest decline over 1 year	-10.00%	—	—
Current Drawdown Current decline from peak	-0.38%	-0.37%	-0.01%
Average Drawdown Average peak-to-trough decline	-7.10%	-2.00%	-5.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.91%	—	—

Volatility

Volatility by Period

	SMAP	ASCE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.45%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.45%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.65%	19.65%	-4.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.68%	19.65%	+0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.68%	19.65%	+0.03%

SMAP vs. ASCE - Expense Ratio Comparison

SMAP has a 0.60% expense ratio, which is higher than ASCE's 0.38% expense ratio.

Dividends

SMAP vs. ASCE - Dividend Comparison

SMAP's dividend yield for the trailing twelve months is around 0.32%, more than ASCE's 0.17% yield.

Position	TTM	2025	2024
ASCE Allspring SMID Core ETF	0.17%	0.22%	0.00%
SMAP Amplify Small-Mid Cap Equity ETF	0.32%	0.48%	0.14%

Frequently Asked Questions

Can I hold both SMAP and ASCE in my portfolio?

SMAP and ASCE have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SMAP or ASCE?

On fees, ASCE is cheaper at 0.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SMAP or ASCE?

ASCE is cheaper with a 0.38% expense ratio, compared with 0.60% for SMAP.

Which ETF pays a higher dividend yield, SMAP or ASCE?

SMAP has the higher dividend yield at 0.32%, compared with 0.17% for ASCE.

What is the main difference between SMAP and ASCE?

They also come from different issuers: Amplify and Allspring. Their fees differ too: 0.60% for SMAP and 0.38% for ASCE.