SMCF vs. EPSV

Last updated Jun 24, 2026

SMCF (Themes US Small Cap Cash Flow Champions ETF) and EPSV (Harbor SMID Cap Value ETF) are both Small Cap Value Equities funds. SMCF is passively managed, while EPSV is actively managed. Over the past year, SMCF returned 32.62% vs 45.03% for EPSV. Their correlation of 0.81 suggests significant overlap in exposure. SMCF charges 0.29%/yr vs 0.88%/yr for EPSV.

Performance

SMCF vs. EPSV - 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 Harbor SMID Cap Value ETF (EPSV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMCF achieves a 17.06% return, which is significantly lower than EPSV's 27.95% return.

SMCF

• 1D: 0.74%
• 1M: 1.60%
• YTD: 17.06%
• 6M: 14.76%
• 1Y: 32.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EPSV

• 1D: -0.87%
• 1M: 4.61%
• YTD: 27.95%
• 6M: 25.89%
• 1Y: 45.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMCF vs. EPSV - Yearly Performance Comparison

	2026 (YTD)	2025
SMCF Themes US Small Cap Cash Flow Champions ETF	17.06%	24.57%
EPSV Harbor SMID Cap Value ETF	27.95%	22.17%

Correlation

The correlation between SMCF and EPSV is 0.79, 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	0.79
Correlation (All Time) Calculated using the full available price history since May 2, 2025	0.81

The correlation between SMCF and EPSV has been stable across timeframes, ranging from 0.79 to 0.81 - a consistent structural relationship.

SMCF vs. EPSV - Sectors Allocation Comparison

Sectors	SMCF	EPSV
Financial Services	48.8%	17.9%
Energy	17.1%	4.6%
Technology	13.0%	16.1%
Industrials	9.1%	23.2%
Healthcare	4.8%	2.4%
Consumer Cyclical	3.1%	8.3%
Communication Services	1.6%	-
Consumer Defensive	1.3%	3.7%
Basic Materials	0.7%	5.2%
Real Estate	0.5%	8.3%
Utilities	-	1.5%

Return for Risk

SMCF vs. EPSV — Risk / Return Rank

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

SMCF

SMCF Risk / Return Rank: 72
SMCF Sharpe Ratio Rank: 67
SMCF Sortino Ratio Rank: 69
SMCF Omega Ratio Rank: 64
SMCF Calmar Ratio Rank: 87
SMCF Martin Ratio Rank: 71

EPSV

EPSV Risk / Return Rank: 86
EPSV Sharpe Ratio Rank: 86
EPSV Sortino Ratio Rank: 87
EPSV Omega Ratio Rank: 80
EPSV Calmar Ratio Rank: 90
EPSV Martin Ratio Rank: 88

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. EPSV - 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 Harbor SMID Cap Value ETF (EPSV). 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	EPSV	Difference
Sharpe ratio: Return per unit of total volatility	2.04	2.50	-0.47
Sortino ratio: Return per unit of downside risk	2.93	3.51	-0.59
Omega ratio: Gain probability vs. loss probability	1.36	1.43	-0.07
Calmar ratio: Return relative to maximum drawdown	4.60	5.06	-0.47
Martin ratio: Return relative to average drawdown	12.30	17.56	-5.27

SMCF vs. EPSV - Sharpe Ratio Comparison

The current SMCF Sharpe Ratio is 2.04, which is comparable to the EPSV Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of SMCF and EPSV, 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. EPSV - Drawdown Comparison

The maximum SMCF drawdown since its inception was -28.48%, which is greater than EPSV's maximum drawdown of -8.93%. Use the drawdown chart below to compare losses from any high point for SMCF and EPSV.

Drawdown Indicators

	SMCF	EPSV	Difference
Max Drawdown Largest peak-to-trough decline	-28.48%	-8.93%	-19.55%
Max Drawdown (1Y) Largest decline over 1 year	-7.13%	-8.93%	+1.80%
Current Drawdown Current decline from peak	0.00%	-0.87%	+0.87%
Average Drawdown Average peak-to-trough decline	-5.19%	-1.63%	-3.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.66%	2.57%	+0.09%

Volatility

SMCF vs. EPSV - Volatility Comparison

The current volatility for Themes US Small Cap Cash Flow Champions ETF (SMCF) is 3.23%, while Harbor SMID Cap Value ETF (EPSV) has a volatility of 5.60%. This indicates that SMCF experiences smaller price fluctuations and is considered to be less risky than EPSV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMCF	EPSV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.23%	5.60%	-2.37%
Volatility (6M) Calculated over the trailing 6-month period	9.86%	13.18%	-3.32%
Volatility (1Y) Calculated over the trailing 1-year period	16.10%	18.09%	-1.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.21%	18.24%	+1.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.21%	18.24%	+1.97%

SMCF vs. EPSV - Expense Ratio Comparison

SMCF has a 0.29% expense ratio, which is lower than EPSV's 0.88% expense ratio.

Dividends

SMCF vs. EPSV - Dividend Comparison

SMCF's dividend yield for the trailing twelve months is around 3.34%, more than EPSV's 2.25% yield.

Position	TTM	2025	2024
EPSV Harbor SMID Cap Value ETF	2.25%	2.88%	0.00%
SMCF Themes US Small Cap Cash Flow Champions ETF	3.34%	3.91%	0.61%

Frequently Asked Questions

Can I hold both SMCF and EPSV in my portfolio?

SMCF and EPSV have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMCF or EPSV?

EPSV has higher volatility (5.60%) compared to SMCF (3.23%). In terms of maximum drawdown, SMCF dropped -28.48% vs EPSV's -8.93%.

Which ETF is better, SMCF or EPSV?

On 1-year performance, EPSV leads with 45.03% vs 32.62% 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 EPSV?

Over the 1-year period, EPSV has performed better with a 45.03% return vs 32.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMCF or EPSV?

SMCF is cheaper with a 0.29% expense ratio, compared with 0.88% for EPSV.

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

SMCF has the higher dividend yield at 3.34%, compared with 2.25% for EPSV.

What is the main difference between SMCF and EPSV?

They also come from different issuers: Themes and Harbor. Their fees differ too: 0.29% for SMCF and 0.88% for EPSV.

Which has better risk-adjusted returns?

EPSV currently has the higher Sharpe Ratio (2.50 vs 2.04), 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.