SMCO vs. HBDC

Last updated Jun 3, 2026

SMCO (Hilton Small-Midcap Opportunity ETF) and HBDC (Hilton BDC Corporate Bond ETF) are both exchange-traded funds - SMCO is a Mid Cap Blend Equities fund actively managed by Hilton, while HBDC is a Corporate Bonds fund actively managed by Hilton. Both are actively managed. At a 0.28 correlation, their price movements are largely independent. SMCO charges 0.55%/yr vs 0.39%/yr for HBDC.

Performance

SMCO vs. HBDC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hilton Small-Midcap Opportunity ETF (SMCO) and Hilton BDC Corporate Bond ETF (HBDC). 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 HBDC's 0.33% return.

SMCO

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

HBDC

• 1D: 0.00%
• 1M: 0.53%
• YTD: 0.33%
• 6M: 0.94%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMCO vs. HBDC - Yearly Performance Comparison

	2026 (YTD)	2025
SMCO Hilton Small-Midcap Opportunity ETF	12.72%	8.91%
HBDC Hilton BDC Corporate Bond ETF	0.33%	2.66%

Correlation

The correlation between SMCO and HBDC is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 12, 2025	0.28

Return for Risk

SMCO vs. HBDC — 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

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. HBDC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hilton Small-Midcap Opportunity ETF (SMCO) and Hilton BDC Corporate Bond ETF (HBDC). 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	HBDC	Difference
Sharpe ratio Return per unit of total volatility	1.53	—	—
Sortino ratio Return per unit of downside risk	2.23	—	—
Omega ratio Gain probability vs. loss probability	1.27	—	—
Calmar ratio Return relative to maximum drawdown	2.52	—	—
Martin ratio Return relative to average drawdown	8.51	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SMCO	HBDC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.53	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.01	1.04	-0.02

Drawdowns

SMCO vs. HBDC - Drawdown Comparison

The maximum SMCO drawdown since its inception was -22.71%, which is greater than HBDC's maximum drawdown of -2.96%. Use the drawdown chart below to compare losses from any high point for SMCO and HBDC.

Drawdown Indicators

	SMCO	HBDC	Difference
Max Drawdown Largest peak-to-trough decline	-22.71%	-2.96%	-19.75%
Max Drawdown (1Y) Largest decline over 1 year	-9.56%	—	—
Current Drawdown Current decline from peak	0.00%	-0.31%	+0.31%
Average Drawdown Average peak-to-trough decline	-3.76%	-0.68%	-3.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.83%	—	—

Volatility

Volatility by Period

	SMCO	HBDC	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.94%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.82%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.75%	2.99%	+12.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.23%	2.99%	+15.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.23%	2.99%	+15.24%

SMCO vs. HBDC - Expense Ratio Comparison

SMCO has a 0.55% expense ratio, which is higher than HBDC's 0.39% expense ratio.

Dividends

SMCO vs. HBDC - Dividend Comparison

SMCO's dividend yield for the trailing twelve months is around 0.89%, less than HBDC's 4.51% yield.

Position	TTM	2025	2024	2023
HBDC Hilton BDC Corporate Bond ETF	4.51%	2.42%	0.00%	0.00%
SMCO Hilton Small-Midcap Opportunity ETF	0.89%	1.01%	0.47%	0.05%

Frequently Asked Questions

Can I hold both SMCO and HBDC in my portfolio?

SMCO and HBDC have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SMCO or HBDC?

On fees, HBDC is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SMCO or HBDC?

HBDC is cheaper with a 0.39% expense ratio, compared with 0.55% for SMCO.

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

HBDC has the higher dividend yield at 4.51%, compared with 0.89% for SMCO.

What is the main difference between SMCO and HBDC?

SMCO is categorized as Mid Cap Blend Equities, while HBDC is Corporate Bonds. Their fees differ too: 0.55% for SMCO and 0.39% for HBDC.