SMDV vs. ISMD

Last updated Aug 2, 2026

SMDV (ProShares Russell 2000 Dividend Growers ETF) and ISMD (Inspire Small/Mid Cap Impact ETF) are both Small Cap Blend Equities funds - SMDV tracks the Russell 2000 Dividend Growth Index while ISMD tracks the Inspire Small/Mid Cap Impact Equal Weight Index. Both are passively managed. Over the past 5 years, SMDV returned 6.99%/yr vs 9.57%/yr for ISMD. Their correlation of 0.85 means they have usually moved in the same direction. SMDV charges 0.40%/yr vs 0.57%/yr for ISMD.

Performance

SMDV vs. ISMD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Russell 2000 Dividend Growers ETF (SMDV) and Inspire Small/Mid Cap Impact ETF (ISMD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMDV achieves a 18.11% return, which is significantly lower than ISMD's 27.66% return.

SMDV

• 1D: -0.18%
• 1M: 0.26%
• 6M: 10.74%
• YTD: 18.11%
• 1Y: 23.79%
• 3Y*: 10.63%
• 5Y*: 6.99%
• 10Y*: 7.53%
• ALL TIME*: 8.24%

ISMD

• 1D: -0.28%
• 1M: -0.59%
• 6M: 18.90%
• YTD: 27.66%
• 1Y: 41.09%
• 3Y*: 14.14%
• 5Y*: 9.57%
• 10Y*: —
• ALL TIME*: 9.85%

*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)
ISMD Inspire Small/Mid Cap Impact ETF	$2.42M	$2.34M	$1.91M
SMDV ProShares Russell 2000 Dividend Growers ETF	$4.61M	$5.90M	$3.47M

SMDV vs. ISMD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SMDV ProShares Russell 2000 Dividend Growers ETF	18.11%	0.26%	7.03%	8.99%	-5.90%	18.98%	-4.74%	17.23%	-0.58%	4.59%
ISMD Inspire Small/Mid Cap Impact ETF	27.66%	4.14%	9.53%	16.74%	-13.44%	29.38%	7.45%	24.62%	-12.63%	8.73%

Correlation

The correlation between SMDV and ISMD is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.78
Correlation (3Y) Balances recent behavior with more history.	0.87
Correlation (5Y) Shows whether the relationship held over a longer period.	0.88
Correlation (All Time) Calculated using the full available price history since Feb 28, 2017	0.85

The correlation between SMDV and ISMD has been stable across timeframes, ranging from 0.78 to 0.88 - a consistent structural relationship.

SMDV vs. ISMD - Sectors Allocation Comparison

Sectors	SMDV	ISMD
Financial Services	31.5%	17.1%
Industrials	21.8%	15.8%
Utilities	17.3%	3.6%
Basic Materials	10.5%	6.8%
Real Estate	6.0%	8.5%
Consumer Cyclical	5.1%	10.9%
Consumer Defensive	3.9%	6.3%
Healthcare	1.9%	9.7%
Communication Services	1.1%	1.5%
Technology	0.8%	14.1%
Energy	-	4.5%

Return for Risk

SMDV vs. ISMD — Risk / Return Rank

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

SMDV

SMDV Risk / Return Rank: 64
SMDV Sharpe Ratio Rank: 62
SMDV Sortino Ratio Rank: 71
SMDV Omega Ratio Rank: 61
SMDV Calmar Ratio Rank: 66
SMDV Martin Ratio Rank: 61

ISMD

ISMD Risk / Return Rank: 88
ISMD Sharpe Ratio Rank: 88
ISMD Sortino Ratio Rank: 88
ISMD Omega Ratio Rank: 85
ISMD Calmar Ratio Rank: 91
ISMD Martin Ratio Rank: 88

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.

SMDV vs. ISMD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Russell 2000 Dividend Growers ETF (SMDV) and Inspire Small/Mid Cap Impact ETF (ISMD). 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.

	SMDV	ISMD	Difference
Sharpe ratio: Return per unit of total volatility	1.46	2.14	-0.68
Sortino ratio: Return per unit of downside risk	2.30	3.02	-0.73
Omega ratio: Gain probability vs. loss probability	1.26	1.37	-0.10
Calmar ratio: Return relative to maximum drawdown	2.30	4.03	-1.73
Martin ratio: Return relative to average drawdown	7.27	13.05	-5.78

SMDV vs. ISMD - Sharpe Ratio Comparison

The current SMDV Sharpe Ratio is 1.46, which is lower than the ISMD Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of SMDV and ISMD, 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

SMDV vs. ISMD - Drawdown Comparison

The maximum SMDV drawdown since its inception was -34.12%, smaller than the maximum ISMD drawdown of -44.60%. Use the drawdown chart below to compare losses from any high point for SMDV and ISMD.

Drawdown Indicators

	SMDV	ISMD	Difference
Max Drawdown Largest peak-to-trough decline	-34.12%	-44.60%	+10.48%
Max Drawdown (1Y) Largest decline over 1 year	-9.79%	-9.64%	-0.15%
Max Drawdown (3Y) Largest decline over 3 years	-21.23%	-26.64%	+5.41%
Max Drawdown (5Y) Largest decline over 5 years	-21.23%	-26.64%	+5.41%
Max Drawdown (10Y) Largest decline over 10 years	-34.12%	—	—
Current Drawdown Current decline from peak	-2.36%	-2.21%	-0.15%
Average Drawdown Average peak-to-trough decline	-5.87%	-8.05%	+2.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.09%	2.97%	+0.12%

Volatility

SMDV vs. ISMD - Volatility Comparison

ProShares Russell 2000 Dividend Growers ETF (SMDV) has a higher volatility of 4.40% compared to Inspire Small/Mid Cap Impact ETF (ISMD) at 3.68%. This indicates that SMDV's price experiences larger fluctuations and is considered to be riskier than ISMD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMDV	ISMD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.40%	3.68%	+0.72%
Volatility (6M) Calculated over the trailing 6-month period	10.24%	12.55%	-2.31%
Volatility (1Y) Calculated over the trailing 1-year period	15.45%	18.22%	-2.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.56%	20.76%	-2.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.75%	23.62%	-2.87%

SMDV vs. ISMD - Expense Ratio Comparison

SMDV has a 0.40% expense ratio, which is lower than ISMD's 0.57% expense ratio.

Dividends

SMDV vs. ISMD - Dividend Comparison

SMDV's dividend yield for the trailing twelve months is around 2.29%, more than ISMD's 1.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ISMD Inspire Small/Mid Cap Impact ETF	1.12%	1.21%	1.24%	1.17%	1.28%	9.35%	0.99%	0.88%	1.35%	2.02%	0.00%	0.00%
SMDV ProShares Russell 2000 Dividend Growers ETF	2.29%	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 ISMD in my portfolio?

SMDV and ISMD have a correlation of 0.78, 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 ISMD?

SMDV has higher volatility (4.40%) compared to ISMD (3.68%). In terms of maximum drawdown, SMDV dropped -34.12% vs ISMD's -44.60%.

Which ETF is better, SMDV or ISMD?

On 5-year performance, ISMD leads with 9.57% vs 6.99% for SMDV. On fees, SMDV is cheaper at 0.40% per year. On volatility, ISMD has been the lower-risk option at 3.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMDV or ISMD?

Over the 5-year period, ISMD has performed better with a 9.57% return vs 6.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMDV or ISMD?

SMDV is cheaper with a 0.40% expense ratio, compared with 0.57% for ISMD.

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

SMDV has the higher dividend yield at 2.29%, compared with 1.12% for ISMD.

What is the main difference between SMDV and ISMD?

SMDV tracks Russell 2000 Dividend Growth Index, while ISMD tracks Inspire Small/Mid Cap Impact Equal Weight Index. They also come from different issuers: ProShares and Inspire. Their fees differ too: 0.40% for SMDV and 0.57% for ISMD.

Which has better risk-adjusted returns?

ISMD currently has the higher Sharpe Ratio (2.14 vs 1.46), 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.