SMCF vs. SVAL

Last updated Aug 4, 2026

SMCF (Themes US Small Cap Cash Flow Champions ETF) and SVAL (iShares US Small Cap Value Factor ETF) are both Small Cap Value Equities funds - SMCF tracks the Solactive US Small Cap Cash Flow Champions Index - Benchmark TR Gross while SVAL tracks the Russell 2000 Focused Value Select Index. Both are passively managed. Over the past year, SMCF returned 37.67% vs 45.92% for SVAL. Their correlation of 0.87 means they have usually moved in the same direction. SMCF charges 0.29%/yr vs 0.20%/yr for SVAL.

Performance

SMCF vs. SVAL - 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 iShares US Small Cap Value Factor ETF (SVAL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMCF achieves a 24.28% return, which is significantly lower than SVAL's 27.21% return.

SMCF

• 1D: 0.91%
• 1M: 4.54%
• 6M: 16.69%
• YTD: 24.28%
• 1Y: 37.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 22.15%

SVAL

• 1D: 1.52%
• 1M: 4.18%
• 6M: 17.15%
• YTD: 27.21%
• 1Y: 45.92%
• 3Y*: 16.75%
• 5Y*: 10.55%
• 10Y*: —
• ALL TIME*: 17.90%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SMCF Themes US Small Cap Cash Flow Champions ETF	$40.53K	$23.18K	$16.60K
SVAL iShares US Small Cap Value Factor ETF	$601.28K	$631.77K	$591.93K

SMCF vs. SVAL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SMCF Themes US Small Cap Cash Flow Champions ETF	24.28%	9.56%	16.30%	7.07%
SVAL iShares US Small Cap Value Factor ETF	27.21%	8.23%	7.54%	8.43%

Correlation

The correlation between SMCF and SVAL is 0.84, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.84
Correlation (All Time) Calculated using the full available price history since Dec 13, 2023	0.87

The correlation between SMCF and SVAL has been stable across timeframes, ranging from 0.84 to 0.87 - a consistent structural relationship.

SMCF vs. SVAL - Sectors Allocation Comparison

Sectors	SMCF	SVAL
Financial Services	55.8%	22.7%
Industrials	10.4%	12.9%
Technology	9.3%	10.4%
Energy	7.7%	10.0%
Healthcare	7.3%	12.0%
Consumer Cyclical	3.8%	11.8%
Basic Materials	2.5%	4.7%
Consumer Defensive	1.3%	4.3%
Communication Services	0.9%	3.0%
Real Estate	0.5%	4.7%
Utilities	-	3.4%

Return for Risk

SMCF vs. SVAL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SMCF

SMCF Risk / Return Rank: 92
SMCF Sharpe Ratio Rank: 92
SMCF Sortino Ratio Rank: 93
SMCF Omega Ratio Rank: 91
SMCF Calmar Ratio Rank: 95
SMCF Martin Ratio Rank: 89

SVAL

SVAL Risk / Return Rank: 94
SVAL Sharpe Ratio Rank: 94
SVAL Sortino Ratio Rank: 94
SVAL Omega Ratio Rank: 93
SVAL Calmar Ratio Rank: 94
SVAL Martin Ratio Rank: 93

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SMCF vs. SVAL - 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 iShares US Small Cap Value Factor ETF (SVAL). 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	SVAL	Difference
Sharpe ratio: Return per unit of total volatility	2.48	2.73	-0.24
Sortino ratio: Return per unit of downside risk	3.55	3.94	-0.39
Omega ratio: Gain probability vs. loss probability	1.45	1.48	-0.03
Calmar ratio: Return relative to maximum drawdown	5.31	5.16	+0.15
Martin ratio: Return relative to average drawdown	14.66	17.43	-2.78

SMCF vs. SVAL - Sharpe Ratio Comparison

The current SMCF Sharpe Ratio is 2.48, which is comparable to the SVAL Sharpe Ratio of 2.73. The chart below compares the historical Sharpe Ratios of SMCF and SVAL, 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. SVAL - Drawdown Comparison

The maximum SMCF drawdown since its inception was -28.48%, roughly equal to the maximum SVAL drawdown of -27.44%. Use the drawdown chart below to compare losses from any high point for SMCF and SVAL.

Drawdown Indicators

	SMCF	SVAL	Difference
Max Drawdown Largest peak-to-trough decline	-28.48%	-27.44%	-1.04%
Max Drawdown (1Y) Largest decline over 1 year	-7.13%	-8.94%	+1.81%
Max Drawdown (3Y) Largest decline over 3 years	—	-27.44%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.44%	—
Current Drawdown Current decline from peak	-0.10%	0.00%	-0.10%
Average Drawdown Average peak-to-trough decline	-4.99%	-8.28%	+3.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.58%	2.64%	-0.06%

Volatility

SMCF vs. SVAL - Volatility Comparison

Themes US Small Cap Cash Flow Champions ETF (SMCF) and iShares US Small Cap Value Factor ETF (SVAL) have volatilities of 3.33% and 3.40%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMCF	SVAL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.33%	3.40%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	9.07%	11.07%	-2.00%
Volatility (1Y) Calculated over the trailing 1-year period	15.27%	16.95%	-1.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.89%	22.02%	-2.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.89%	23.04%	-3.15%

SMCF vs. SVAL - Expense Ratio Comparison

SMCF has a 0.29% expense ratio, which is higher than SVAL's 0.20% expense ratio.

Dividends

SMCF vs. SVAL - Dividend Comparison

SMCF's dividend yield for the trailing twelve months is around 3.15%, more than SVAL's 2.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
SMCF Themes US Small Cap Cash Flow Champions ETF	3.15%	3.91%	0.61%	0.00%	0.00%	0.00%	0.00%
SVAL iShares US Small Cap Value Factor ETF	2.01%	2.33%	1.82%	2.25%	2.09%	2.33%	0.28%

Frequently Asked Questions

Can I hold both SMCF and SVAL in my portfolio?

SMCF and SVAL have a correlation of 0.84, 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 SVAL?

SVAL has higher volatility (3.40%) compared to SMCF (3.33%). In terms of maximum drawdown, SMCF dropped -28.48% vs SVAL's -27.44%.

Which ETF is better, SMCF or SVAL?

On 1-year performance, SVAL leads with 45.92% vs 37.67% for SMCF. On fees, SVAL is cheaper at 0.20% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMCF or SVAL?

Over the 1-year period, SVAL has performed better with a 45.92% return vs 37.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMCF or SVAL?

SVAL is cheaper with a 0.20% expense ratio, compared with 0.29% for SMCF.

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

SMCF has the higher dividend yield at 3.15%, compared with 2.01% for SVAL.

What is the main difference between SMCF and SVAL?

SMCF tracks Solactive US Small Cap Cash Flow Champions Index - Benchmark TR Gross, while SVAL tracks Russell 2000 Focused Value Select Index. They also come from different issuers: Themes and iShares. Their fees differ too: 0.29% for SMCF and 0.20% for SVAL.

Which has better risk-adjusted returns?

SVAL currently has the higher Sharpe Ratio (2.73 vs 2.48), 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.