SMDV vs. CSM

Last updated Jun 4, 2026

SMDV (ProShares Russell 2000 Dividend Growers ETF) and CSM (Proshares Large Cap Core Plus) are both exchange-traded funds - SMDV is a Small Cap Blend Equities fund tracking the Russell 2000 Dividend Growth Index, while CSM is a Long-Short fund tracking the Credit Suisse 130/30 Large-Cap Index. Both are passively managed. Over the past 10 years, SMDV returned 7.08%/yr vs 14.36%/yr for CSM. A 0.66 correlation means they provide meaningful diversification when combined. SMDV charges 0.40%/yr vs 0.45%/yr for CSM.

Performance

SMDV vs. CSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Russell 2000 Dividend Growers ETF (SMDV) and Proshares Large Cap Core Plus (CSM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with SMDV having a 8.80% return and CSM slightly lower at 8.62%. Over the past 10 years, SMDV has underperformed CSM with an annualized return of 7.08%, while CSM has yielded a comparatively higher 14.36% annualized return.

SMDV

• 1D: -1.58%
• 1M: -0.39%
• YTD: 8.80%
• 6M: 7.57%
• 1Y: 13.74%
• 3Y*: 9.13%
• 5Y*: 3.88%
• 10Y*: 7.08%

CSM

• 1D: -0.84%
• 1M: 4.86%
• YTD: 8.62%
• 6M: 9.99%
• 1Y: 28.48%
• 3Y*: 22.04%
• 5Y*: 13.38%
• 10Y*: 14.36%

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

SMDV vs. CSM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SMDV ProShares Russell 2000 Dividend Growers ETF	8.80%	0.26%	7.03%	8.99%	-5.90%	18.98%	-4.74%	17.23%	-0.58%	4.63%
CSM Proshares Large Cap Core Plus	8.62%	21.84%	22.09%	23.50%	-18.27%	33.13%	10.94%	29.26%	-7.88%	22.52%

Correlation

The correlation between SMDV and CSM is 0.53, 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	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since Feb 6, 2015	0.66

The correlation between SMDV and CSM shifts across timeframes, from 0.53 (1 year) to 0.67 (10 years), reflecting how their relationship changes across market environments.

SMDV vs. CSM - Sectors Allocation Comparison

Sectors	SMDV	CSM
Financial Services	31.9%	16.3%
Industrials	22.2%	9.0%
Utilities	15.8%	3.8%
Basic Materials	7.8%	1.9%
Real Estate	7.4%	3.1%
Consumer Defensive	4.8%	4.9%
Consumer Cyclical	4.1%	8.7%
Technology	3.2%	28.7%
Healthcare	1.8%	8.5%
Communication Services	1.0%	7.7%
Energy	-	3.1%

Return for Risk

SMDV vs. CSM — Risk / Return Rank

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

SMDV

SMDV Risk / Return Rank: 26
SMDV Sharpe Ratio Rank: 24
SMDV Sortino Ratio Rank: 26
SMDV Omega Ratio Rank: 24
SMDV Calmar Ratio Rank: 29
SMDV Martin Ratio Rank: 29

CSM

CSM Risk / Return Rank: 69
CSM Sharpe Ratio Rank: 72
CSM Sortino Ratio Rank: 72
CSM Omega Ratio Rank: 69
CSM Calmar Ratio Rank: 61
CSM Martin Ratio Rank: 71

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.

SMDV vs. CSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Russell 2000 Dividend Growers ETF (SMDV) and Proshares Large Cap Core Plus (CSM). 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.

	SMDV	CSM	Difference
Sharpe ratio: Return per unit of total volatility	0.87	2.40	-1.53
Sortino ratio: Return per unit of downside risk	1.42	3.30	-1.88
Omega ratio: Gain probability vs. loss probability	1.16	1.42	-0.26
Calmar ratio: Return relative to maximum drawdown	1.41	3.04	-1.63
Martin ratio: Return relative to average drawdown	4.25	13.25	-9.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMDV vs. CSM - Sharpe Ratio Comparison

The current SMDV Sharpe Ratio is 0.87, which is lower than the CSM Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of SMDV and CSM, 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

	SMDV	CSM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.87	2.40	-1.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.21	0.79	-0.58
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	0.78	-0.44
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.86	-0.48

Drawdowns

SMDV vs. CSM - Drawdown Comparison

The maximum SMDV drawdown since its inception was -34.12%, smaller than the maximum CSM drawdown of -36.11%. Use the drawdown chart below to compare losses from any high point for SMDV and CSM.

Drawdown Indicators

	SMDV	CSM	Difference
Max Drawdown Largest peak-to-trough decline	-34.12%	-36.11%	+1.99%
Max Drawdown (1Y) Largest decline over 1 year	-9.79%	-9.40%	-0.39%
Max Drawdown (3Y) Largest decline over 3 years	-21.23%	-18.30%	-2.93%
Max Drawdown (5Y) Largest decline over 5 years	-21.23%	-23.82%	+2.59%
Max Drawdown (10Y) Largest decline over 10 years	-34.12%	-36.11%	+1.99%
Current Drawdown Current decline from peak	-2.76%	-1.18%	-1.58%
Average Drawdown Average peak-to-trough decline	-5.93%	-4.04%	-1.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.25%	2.15%	+1.10%

Volatility

SMDV vs. CSM - Volatility Comparison

ProShares Russell 2000 Dividend Growers ETF (SMDV) has a higher volatility of 4.41% compared to Proshares Large Cap Core Plus (CSM) at 2.85%. This indicates that SMDV's price experiences larger fluctuations and is considered to be riskier than CSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMDV	CSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.41%	2.85%	+1.56%
Volatility (6M) Calculated over the trailing 6-month period	10.55%	8.81%	+1.74%
Volatility (1Y) Calculated over the trailing 1-year period	15.85%	11.95%	+3.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.69%	17.11%	+1.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.73%	18.38%	+2.35%

SMDV vs. CSM - Expense Ratio Comparison

SMDV has a 0.40% expense ratio, which is lower than CSM's 0.45% expense ratio.

Dividends

SMDV vs. CSM - Dividend Comparison

SMDV's dividend yield for the trailing twelve months is around 2.42%, more than CSM's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CSM Proshares Large Cap Core Plus	1.01%	1.04%	1.06%	1.17%	1.37%	0.78%	1.21%	1.41%	1.54%	1.28%	1.49%	1.67%
SMDV ProShares Russell 2000 Dividend Growers ETF	2.42%	2.67%	2.68%	2.69%	2.51%	2.02%	2.13%	2.03%	1.97%	1.84%	1.35%	1.81%

Frequently Asked Questions

Can I hold both SMDV and CSM in my portfolio?

SMDV and CSM have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMDV or CSM?

SMDV has higher volatility (4.41%) compared to CSM (2.85%). In terms of maximum drawdown, SMDV dropped -34.12% vs CSM's -36.11%.

Which ETF is better, SMDV or CSM?

On 10-year performance, CSM leads with 14.36% vs 7.08% for SMDV. On fees, SMDV is cheaper at 0.40% per year. On volatility, CSM has been the lower-risk option at 2.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMDV or CSM?

Over the 10-year period, CSM has performed better with a 14.36% return vs 7.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMDV or CSM?

SMDV is cheaper with a 0.40% expense ratio, compared with 0.45% for CSM.

Which ETF pays a higher dividend yield, SMDV or CSM?

SMDV has the higher dividend yield at 2.42%, compared with 1.01% for CSM.

What is the main difference between SMDV and CSM?

SMDV is categorized as Small Cap Blend Equities, while CSM is Long-Short. SMDV tracks Russell 2000 Dividend Growth Index, while CSM tracks Credit Suisse 130/30 Large-Cap Index. Their fees differ too: 0.40% for SMDV and 0.45% for CSM.

Which has better risk-adjusted returns?

CSM currently has the higher Sharpe Ratio (2.40 vs 0.87), 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.