SMAP vs. DIVO

Last updated Jul 1, 2026

SMAP (Amplify Small-Mid Cap Equity ETF) and DIVO (Amplify CWP Enhanced Dividend Income ETF) are both exchange-traded funds - SMAP is a Small Cap Blend Equities fund managed by Amplify, while DIVO is a Derivative Income fund actively managed by Amplify. Over the past year, SMAP returned 9.43% vs 14.71% for DIVO. A 0.72 correlation means they provide meaningful diversification when combined. SMAP charges 0.60%/yr vs 0.56%/yr for DIVO.

Performance

SMAP vs. DIVO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify Small-Mid Cap Equity ETF (SMAP) and Amplify CWP Enhanced Dividend Income ETF (DIVO). 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 higher than DIVO's 5.20% return.

SMAP

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

DIVO

• 1D: 0.24%
• 1M: -0.77%
• YTD: 5.20%
• 6M: 4.42%
• 1Y: 14.71%
• 3Y*: 14.29%
• 5Y*: 10.43%
• 10Y*: —

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

SMAP vs. DIVO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SMAP Amplify Small-Mid Cap Equity ETF	7.23%	3.63%	-2.93%
DIVO Amplify CWP Enhanced Dividend Income ETF	5.20%	17.40%	0.98%

Correlation

The correlation between SMAP and DIVO is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.67
Correlation (All Time) Calculated using the full available price history since Nov 1, 2024	0.72

The correlation between SMAP and DIVO has been stable across timeframes, ranging from 0.67 to 0.72 - a consistent structural relationship.

Return for Risk

SMAP vs. DIVO — 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

DIVO

DIVO Risk / Return Rank: 57
DIVO Sharpe Ratio Rank: 56
DIVO Sortino Ratio Rank: 60
DIVO Omega Ratio Rank: 52
DIVO Calmar Ratio Rank: 58
DIVO Martin Ratio Rank: 58

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. DIVO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify Small-Mid Cap Equity ETF (SMAP) and Amplify CWP Enhanced Dividend Income ETF (DIVO). 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	DIVO	Difference
Sharpe ratio: Return per unit of total volatility	0.78	1.62	-0.84
Sortino ratio: Return per unit of downside risk	1.24	2.42	-1.18
Omega ratio: Gain probability vs. loss probability	1.14	1.28	-0.14
Calmar ratio: Return relative to maximum drawdown	1.22	2.48	-1.27
Martin ratio: Return relative to average drawdown	4.18	8.75	-4.57

SMAP vs. DIVO - Sharpe Ratio Comparison

The current SMAP Sharpe Ratio is 0.78, which is lower than the DIVO Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of SMAP and DIVO, 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

SMAP vs. DIVO - Drawdown Comparison

The maximum SMAP drawdown since its inception was -24.12%, smaller than the maximum DIVO drawdown of -30.04%. Use the drawdown chart below to compare losses from any high point for SMAP and DIVO.

Drawdown Indicators

	SMAP	DIVO	Difference
Max Drawdown Largest peak-to-trough decline	-24.12%	-30.04%	+5.92%
Max Drawdown (1Y) Largest decline over 1 year	-10.00%	-5.95%	-4.05%
Max Drawdown (3Y) Largest decline over 3 years	—	-12.12%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-13.72%	—
Current Drawdown Current decline from peak	-0.38%	-1.79%	+1.41%
Average Drawdown Average peak-to-trough decline	-7.10%	-2.60%	-4.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.91%	1.69%	+1.22%

Volatility

SMAP vs. DIVO - Volatility Comparison

Amplify Small-Mid Cap Equity ETF (SMAP) has a higher volatility of 3.45% compared to Amplify CWP Enhanced Dividend Income ETF (DIVO) at 2.85%. This indicates that SMAP's price experiences larger fluctuations and is considered to be riskier than DIVO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMAP	DIVO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.45%	2.85%	+0.60%
Volatility (6M) Calculated over the trailing 6-month period	11.45%	7.10%	+4.35%
Volatility (1Y) Calculated over the trailing 1-year period	15.65%	9.13%	+6.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.68%	11.93%	+7.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.68%	14.81%	+4.87%

SMAP vs. DIVO - Expense Ratio Comparison

SMAP has a 0.60% expense ratio, which is higher than DIVO's 0.56% expense ratio.

Dividends

SMAP vs. DIVO - Dividend Comparison

SMAP's dividend yield for the trailing twelve months is around 0.32%, less than DIVO's 6.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DIVO Amplify CWP Enhanced Dividend Income ETF	6.50%	6.44%	4.70%	4.67%	4.76%	4.79%	4.91%	8.16%	5.27%	3.83%
SMAP Amplify Small-Mid Cap Equity ETF	0.32%	0.48%	0.14%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SMAP and DIVO in my portfolio?

SMAP and DIVO have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMAP or DIVO?

SMAP has higher volatility (3.45%) compared to DIVO (2.85%). In terms of maximum drawdown, SMAP dropped -24.12% vs DIVO's -30.04%.

Which ETF is better, SMAP or DIVO?

On 1-year performance, DIVO leads with 14.71% vs 9.43% for SMAP. On fees, DIVO is cheaper at 0.56% per year. On volatility, DIVO has been the lower-risk option at 2.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMAP or DIVO?

Over the 1-year period, DIVO has performed better with a 14.71% return vs 9.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMAP or DIVO?

DIVO is cheaper with a 0.56% expense ratio, compared with 0.60% for SMAP.

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

DIVO has the higher dividend yield at 6.50%, compared with 0.32% for SMAP.

What is the main difference between SMAP and DIVO?

SMAP is categorized as Small Cap Blend Equities, while DIVO is Derivative Income. Their fees differ too: 0.60% for SMAP and 0.56% for DIVO.

Which has better risk-adjusted returns?

DIVO currently has the higher Sharpe Ratio (1.62 vs 0.78), 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.