SMCF vs. DFSV

Last updated Jun 23, 2026

SMCF (Themes US Small Cap Cash Flow Champions ETF) and DFSV (Dimensional US Small Cap Value ETF) are both Small Cap Value Equities funds. SMCF is passively managed, while DFSV is actively managed. Over the past year, SMCF returned 32.75% vs 34.93% for DFSV. Their correlation of 0.91 suggests significant overlap in exposure. SMCF charges 0.29%/yr vs 0.31%/yr for DFSV.

Performance

SMCF vs. DFSV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes US Small Cap Cash Flow Champions ETF (SMCF) and Dimensional US Small Cap Value ETF (DFSV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with SMCF having a 16.19% return and DFSV slightly higher at 16.63%.

SMCF

• 1D: 0.79%
• 1M: 0.85%
• YTD: 16.19%
• 6M: 13.61%
• 1Y: 32.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DFSV

• 1D: 0.24%
• 1M: 2.16%
• YTD: 16.63%
• 6M: 14.57%
• 1Y: 34.93%
• 3Y*: 17.37%
• 5Y*: —
• 10Y*: —

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

SMCF vs. DFSV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SMCF Themes US Small Cap Cash Flow Champions ETF	16.19%	9.56%	16.30%	7.07%
DFSV Dimensional US Small Cap Value ETF	16.63%	8.59%	7.13%	8.33%

Correlation

The correlation between SMCF and DFSV 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 (All Time) Calculated using the full available price history since Dec 13, 2023	0.91

The correlation between SMCF and DFSV has been stable across timeframes, ranging from 0.90 to 0.91 - a consistent structural relationship.

SMCF vs. DFSV - Sectors Allocation Comparison

Sectors	SMCF	DFSV
Financial Services	48.8%	27.5%
Energy	17.1%	12.1%
Technology	13.0%	8.5%
Industrials	9.1%	15.3%
Healthcare	4.8%	6.9%
Consumer Cyclical	3.1%	14.7%
Communication Services	1.6%	2.7%
Consumer Defensive	1.3%	5.7%
Basic Materials	0.7%	5.2%
Real Estate	0.5%	0.8%
Utilities	-	0.7%

Return for Risk

SMCF vs. DFSV — Risk / Return Rank

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

SMCF

SMCF Risk / Return Rank: 69
SMCF Sharpe Ratio Rank: 64
SMCF Sortino Ratio Rank: 66
SMCF Omega Ratio Rank: 61
SMCF Calmar Ratio Rank: 86
SMCF Martin Ratio Rank: 69

DFSV

DFSV Risk / Return Rank: 66
DFSV Sharpe Ratio Rank: 62
DFSV Sortino Ratio Rank: 65
DFSV Omega Ratio Rank: 59
DFSV Calmar Ratio Rank: 76
DFSV Martin Ratio Rank: 67

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.

SMCF vs. DFSV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes US Small Cap Cash Flow Champions ETF (SMCF) and Dimensional US Small Cap Value ETF (DFSV). 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.

	SMCF	DFSV	Difference
Sharpe ratio: Return per unit of total volatility	2.04	1.99	+0.05
Sortino ratio: Return per unit of downside risk	2.94	2.89	+0.04
Omega ratio: Gain probability vs. loss probability	1.36	1.35	+0.01
Calmar ratio: Return relative to maximum drawdown	4.61	3.74	+0.88
Martin ratio: Return relative to average drawdown	12.34	11.89	+0.45

SMCF vs. DFSV - Sharpe Ratio Comparison

The current SMCF Sharpe Ratio is 2.04, which is comparable to the DFSV Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of SMCF and DFSV, 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

SMCF vs. DFSV - Drawdown Comparison

The maximum SMCF drawdown since its inception was -28.48%, roughly equal to the maximum DFSV drawdown of -28.02%. Use the drawdown chart below to compare losses from any high point for SMCF and DFSV.

Drawdown Indicators

	SMCF	DFSV	Difference
Max Drawdown Largest peak-to-trough decline	-28.48%	-28.02%	-0.46%
Max Drawdown (1Y) Largest decline over 1 year	-7.13%	-9.39%	+2.26%
Max Drawdown (3Y) Largest decline over 3 years	—	-28.02%	—
Current Drawdown Current decline from peak	-0.66%	-1.95%	+1.29%
Average Drawdown Average peak-to-trough decline	-5.20%	-6.64%	+1.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.66%	2.94%	-0.28%

Volatility

SMCF vs. DFSV - Volatility Comparison

The current volatility for Themes US Small Cap Cash Flow Champions ETF (SMCF) is 3.23%, while Dimensional US Small Cap Value ETF (DFSV) has a volatility of 4.04%. This indicates that SMCF experiences smaller price fluctuations and is considered to be less risky than DFSV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMCF	DFSV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.23%	4.04%	-0.81%
Volatility (6M) Calculated over the trailing 6-month period	9.85%	11.27%	-1.42%
Volatility (1Y) Calculated over the trailing 1-year period	16.12%	17.63%	-1.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.22%	22.20%	-1.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.22%	22.20%	-1.98%

SMCF vs. DFSV - Expense Ratio Comparison

SMCF has a 0.29% expense ratio, which is lower than DFSV's 0.31% expense ratio.

Dividends

SMCF vs. DFSV - Dividend Comparison

SMCF's dividend yield for the trailing twelve months is around 3.37%, more than DFSV's 1.40% yield.

Position	TTM	2025	2024	2023	2022
DFSV Dimensional US Small Cap Value ETF	1.40%	1.53%	1.31%	1.29%	0.90%
SMCF Themes US Small Cap Cash Flow Champions ETF	3.37%	3.91%	0.61%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SMCF and DFSV in my portfolio?

With a correlation of 0.90, SMCF and DFSV 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, SMCF or DFSV?

DFSV has higher volatility (4.04%) compared to SMCF (3.23%). In terms of maximum drawdown, SMCF dropped -28.48% vs DFSV's -28.02%.

Which ETF is better, SMCF or DFSV?

On 1-year performance, DFSV leads with 34.93% vs 32.75% for SMCF. On fees, SMCF is cheaper at 0.29% per year. On volatility, SMCF has been the lower-risk option at 3.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMCF or DFSV?

Over the 1-year period, DFSV has performed better with a 34.93% return vs 32.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMCF or DFSV?

SMCF is cheaper with a 0.29% expense ratio, compared with 0.31% for DFSV.

Which ETF pays a higher dividend yield, SMCF or DFSV?

SMCF has the higher dividend yield at 3.37%, compared with 1.40% for DFSV.

What is the main difference between SMCF and DFSV?

They also come from different issuers: Themes and Dimensional. Their fees differ too: 0.29% for SMCF and 0.31% for DFSV.

Which has better risk-adjusted returns?

SMCF currently has the higher Sharpe Ratio (2.04 vs 1.99), 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.