SMCO vs. FLDZ

Last updated Jun 3, 2026

SMCO (Hilton Small-Midcap Opportunity ETF) and FLDZ (RiverNorth Patriot ETF) are both Mid Cap Blend Equities funds. Both are actively managed. Over the past year, SMCO returned 23.96% vs 9.09% for FLDZ. Their correlation of 0.88 suggests significant overlap in exposure. SMCO charges 0.55%/yr vs 0.77%/yr for FLDZ.

Performance

SMCO vs. FLDZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hilton Small-Midcap Opportunity ETF (SMCO) and RiverNorth Patriot ETF (FLDZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMCO achieves a 12.72% return, which is significantly higher than FLDZ's 4.53% return.

SMCO

• 1D: 0.86%
• 1M: 1.85%
• YTD: 12.72%
• 6M: 13.48%
• 1Y: 23.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FLDZ

• 1D: -0.11%
• 1M: -1.15%
• YTD: 4.53%
• 6M: 4.21%
• 1Y: 9.09%
• 3Y*: 13.26%
• 5Y*: —
• 10Y*: —

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

SMCO vs. FLDZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SMCO Hilton Small-Midcap Opportunity ETF	12.72%	6.46%	17.78%	7.84%
FLDZ RiverNorth Patriot ETF	4.53%	6.66%	15.99%	7.32%

Correlation

The correlation between SMCO and FLDZ is 0.85, 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	0.85
Correlation (All Time) Calculated using the full available price history since Nov 30, 2023	0.88

The correlation between SMCO and FLDZ has been stable across timeframes, ranging from 0.85 to 0.88 - a consistent structural relationship.

Return for Risk

SMCO vs. FLDZ — Risk / Return Rank

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

SMCO

SMCO Risk / Return Rank: 45
SMCO Sharpe Ratio Rank: 42
SMCO Sortino Ratio Rank: 44
SMCO Omega Ratio Rank: 41
SMCO Calmar Ratio Rank: 49
SMCO Martin Ratio Rank: 49

FLDZ

FLDZ Risk / Return Rank: 25
FLDZ Sharpe Ratio Rank: 23
FLDZ Sortino Ratio Rank: 23
FLDZ Omega Ratio Rank: 22
FLDZ Calmar Ratio Rank: 29
FLDZ Martin Ratio Rank: 30

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.

SMCO vs. FLDZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hilton Small-Midcap Opportunity ETF (SMCO) and RiverNorth Patriot ETF (FLDZ). 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.

	SMCO	FLDZ	Difference
Sharpe ratio Return per unit of total volatility	1.53	0.81	+0.72
Sortino ratio Return per unit of downside risk	2.23	1.22	+1.01
Omega ratio Gain probability vs. loss probability	1.27	1.14	+0.13
Calmar ratio Return relative to maximum drawdown	2.52	1.45	+1.07
Martin ratio Return relative to average drawdown	8.51	4.42	+4.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMCO vs. FLDZ - Sharpe Ratio Comparison

The current SMCO Sharpe Ratio is 1.53, which is higher than the FLDZ Sharpe Ratio of 0.81. The chart below compares the historical Sharpe Ratios of SMCO and FLDZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SMCO	FLDZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.53	0.81	+0.72
Sharpe Ratio (All Time) Calculated using the full available price history	1.01	0.34	+0.67

Drawdowns

SMCO vs. FLDZ - Drawdown Comparison

The maximum SMCO drawdown since its inception was -22.71%, which is greater than FLDZ's maximum drawdown of -19.54%. Use the drawdown chart below to compare losses from any high point for SMCO and FLDZ.

Drawdown Indicators

	SMCO	FLDZ	Difference
Max Drawdown Largest peak-to-trough decline	-22.71%	-19.54%	-3.17%
Max Drawdown (1Y) Largest decline over 1 year	-9.56%	-6.25%	-3.31%
Max Drawdown (3Y) Largest decline over 3 years	—	-17.43%	—
Current Drawdown Current decline from peak	0.00%	-1.52%	+1.52%
Average Drawdown Average peak-to-trough decline	-3.76%	-5.99%	+2.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.83%	2.05%	+0.78%

Volatility

SMCO vs. FLDZ - Volatility Comparison

Hilton Small-Midcap Opportunity ETF (SMCO) has a higher volatility of 3.94% compared to RiverNorth Patriot ETF (FLDZ) at 2.62%. This indicates that SMCO's price experiences larger fluctuations and is considered to be riskier than FLDZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMCO	FLDZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.94%	2.62%	+1.32%
Volatility (6M) Calculated over the trailing 6-month period	11.82%	7.65%	+4.17%
Volatility (1Y) Calculated over the trailing 1-year period	15.75%	11.31%	+4.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.23%	16.92%	+1.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.23%	16.92%	+1.31%

SMCO vs. FLDZ - Expense Ratio Comparison

SMCO has a 0.55% expense ratio, which is lower than FLDZ's 0.77% expense ratio.

Dividends

SMCO vs. FLDZ - Dividend Comparison

SMCO's dividend yield for the trailing twelve months is around 0.89%, less than FLDZ's 1.47% yield.

Position	TTM	2025	2024	2023	2022
FLDZ RiverNorth Patriot ETF	1.47%	1.54%	1.17%	1.39%	1.52%
SMCO Hilton Small-Midcap Opportunity ETF	0.89%	1.01%	0.47%	0.05%	0.00%

Frequently Asked Questions

Can I hold both SMCO and FLDZ in my portfolio?

SMCO and FLDZ have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMCO or FLDZ?

SMCO has higher volatility (3.94%) compared to FLDZ (2.62%). In terms of maximum drawdown, SMCO dropped -22.71% vs FLDZ's -19.54%.

Which ETF is better, SMCO or FLDZ?

On 1-year performance, SMCO leads with 23.96% vs 9.09% for FLDZ. On fees, SMCO is cheaper at 0.55% per year. On volatility, FLDZ has been the lower-risk option at 2.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMCO or FLDZ?

Over the 1-year period, SMCO has performed better with a 23.96% return vs 9.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMCO or FLDZ?

SMCO is cheaper with a 0.55% expense ratio, compared with 0.77% for FLDZ.

Which ETF pays a higher dividend yield, SMCO or FLDZ?

FLDZ has the higher dividend yield at 1.47%, compared with 0.89% for SMCO.

What is the main difference between SMCO and FLDZ?

They also come from different issuers: Hilton and RiverNorth. Their fees differ too: 0.55% for SMCO and 0.77% for FLDZ.

Which has better risk-adjusted returns?

SMCO currently has the higher Sharpe Ratio (1.53 vs 0.81), 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.