SMDV vs. REGL

Last updated Jun 23, 2026

SMDV (ProShares Russell 2000 Dividend Growers ETF) and REGL (ProShares S&P MidCap 400 Dividend Aristocrats ETF) are both exchange-traded funds - SMDV is a Small Cap Blend Equities fund tracking the Russell 2000 Dividend Growth Index, while REGL is a Mid Cap Value Equities fund tracking the S&P MidCap 400 Dividend Aristocrats Index. Both are passively managed. Over the past 10 years, SMDV returned 7.45%/yr vs 9.63%/yr for REGL. Their correlation of 0.89 suggests significant overlap in exposure. Both charge a 0.40% expense ratio.

Performance

SMDV vs. REGL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Russell 2000 Dividend Growers ETF (SMDV) and ProShares S&P MidCap 400 Dividend Aristocrats ETF (REGL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMDV achieves a 13.61% return, which is significantly higher than REGL's 7.68% return. Over the past 10 years, SMDV has underperformed REGL with an annualized return of 7.45%, while REGL has yielded a comparatively higher 9.63% annualized return.

SMDV

• 1D: 0.04%
• 1M: 3.61%
• YTD: 13.61%
• 6M: 11.16%
• 1Y: 20.83%
• 3Y*: 11.84%
• 5Y*: 5.77%
• 10Y*: 7.45%

REGL

• 1D: 0.16%
• 1M: 1.42%
• YTD: 7.68%
• 6M: 5.73%
• 1Y: 14.91%
• 3Y*: 12.38%
• 5Y*: 7.47%
• 10Y*: 9.63%

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

SMDV vs. REGL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SMDV ProShares Russell 2000 Dividend Growers ETF	13.61%	0.26%	7.03%	8.99%	-5.90%	18.98%	-4.74%	17.23%	-0.58%	4.63%
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF	7.68%	6.89%	12.26%	5.41%	-0.62%	20.38%	7.50%	18.79%	-3.25%	10.17%

Correlation

The correlation between SMDV and REGL is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Feb 5, 2015	0.89

The correlation between SMDV and REGL has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.

SMDV vs. REGL - Sectors Allocation Comparison

Sectors	SMDV	REGL
Financial Services	32.8%	31.0%
Industrials	21.9%	15.2%
Utilities	15.7%	13.7%
Basic Materials	8.3%	9.2%
Real Estate	7.5%	7.8%
Consumer Defensive	4.4%	2.8%
Consumer Cyclical	4.1%	10.7%
Technology	2.5%	1.9%
Healthcare	1.6%	4.6%
Communication Services	1.1%	-
Energy	-	3.1%

Return for Risk

SMDV vs. REGL — Risk / Return Rank

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

SMDV

SMDV Risk / Return Rank: 40
SMDV Sharpe Ratio Rank: 38
SMDV Sortino Ratio Rank: 42
SMDV Omega Ratio Rank: 37
SMDV Calmar Ratio Rank: 44
SMDV Martin Ratio Rank: 41

REGL

REGL Risk / Return Rank: 32
REGL Sharpe Ratio Rank: 32
REGL Sortino Ratio Rank: 34
REGL Omega Ratio Rank: 30
REGL Calmar Ratio Rank: 32
REGL Martin Ratio Rank: 33

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. REGL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Russell 2000 Dividend Growers ETF (SMDV) and ProShares S&P MidCap 400 Dividend Aristocrats ETF (REGL). 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	REGL	Difference
Sharpe ratio: Return per unit of total volatility	1.33	1.13	+0.19
Sortino ratio: Return per unit of downside risk	2.07	1.74	+0.33
Omega ratio: Gain probability vs. loss probability	1.24	1.20	+0.04
Calmar ratio: Return relative to maximum drawdown	2.14	1.55	+0.59
Martin ratio: Return relative to average drawdown	6.49	4.81	+1.68

SMDV vs. REGL - Sharpe Ratio Comparison

The current SMDV Sharpe Ratio is 1.33, which is comparable to the REGL Sharpe Ratio of 1.13. The chart below compares the historical Sharpe Ratios of SMDV and REGL, 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. REGL - Drawdown Comparison

The maximum SMDV drawdown since its inception was -34.12%, smaller than the maximum REGL drawdown of -36.37%. Use the drawdown chart below to compare losses from any high point for SMDV and REGL.

Drawdown Indicators

	SMDV	REGL	Difference
Max Drawdown Largest peak-to-trough decline	-34.12%	-36.37%	+2.25%
Max Drawdown (1Y) Largest decline over 1 year	-9.79%	-9.67%	-0.12%
Max Drawdown (3Y) Largest decline over 3 years	-21.23%	-16.96%	-4.27%
Max Drawdown (5Y) Largest decline over 5 years	-21.23%	-16.96%	-4.27%
Max Drawdown (10Y) Largest decline over 10 years	-34.12%	-36.37%	+2.25%
Current Drawdown Current decline from peak	-0.60%	-2.46%	+1.86%
Average Drawdown Average peak-to-trough decline	-5.91%	-4.08%	-1.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.22%	3.10%	+0.12%

Volatility

SMDV vs. REGL - Volatility Comparison

ProShares Russell 2000 Dividend Growers ETF (SMDV) has a higher volatility of 3.98% compared to ProShares S&P MidCap 400 Dividend Aristocrats ETF (REGL) at 3.55%. This indicates that SMDV's price experiences larger fluctuations and is considered to be riskier than REGL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMDV	REGL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.98%	3.55%	+0.43%
Volatility (6M) Calculated over the trailing 6-month period	10.55%	9.30%	+1.25%
Volatility (1Y) Calculated over the trailing 1-year period	15.81%	13.26%	+2.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.61%	16.06%	+2.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.74%	18.34%	+2.40%

SMDV vs. REGL - Expense Ratio Comparison

Both SMDV and REGL have an expense ratio of 0.40%.

Dividends

SMDV vs. REGL - Dividend Comparison

SMDV's dividend yield for the trailing twelve months is around 2.32%, more than REGL's 2.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF	2.16%	2.32%	2.28%	2.40%	2.32%	2.50%	2.41%	1.96%	2.09%	1.63%	1.20%	1.66%
SMDV ProShares Russell 2000 Dividend Growers ETF	2.32%	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 REGL in my portfolio?

With a correlation of 0.90, SMDV and REGL move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SMDV or REGL?

SMDV has higher volatility (3.98%) compared to REGL (3.55%). In terms of maximum drawdown, SMDV dropped -34.12% vs REGL's -36.37%.

Which ETF is better, SMDV or REGL?

On 10-year performance, REGL leads with 9.63% vs 7.45% for SMDV. Both ETFs have the same 0.40% expense ratio. On volatility, REGL has been the lower-risk option at 3.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMDV or REGL?

Over the 10-year period, REGL has performed better with a 9.63% return vs 7.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMDV or REGL?

SMDV and REGL have the same expense ratio: 0.40% per year.

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

SMDV has the higher dividend yield at 2.32%, compared with 2.16% for REGL.

What is the main difference between SMDV and REGL?

SMDV is categorized as Small Cap Blend Equities, while REGL is Mid Cap Value Equities. SMDV tracks Russell 2000 Dividend Growth Index, while REGL tracks S&P MidCap 400 Dividend Aristocrats Index.

Which has better risk-adjusted returns?

SMDV currently has the higher Sharpe Ratio (1.33 vs 1.13), 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.