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SMDV vs. SMMV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SMDV vs. SMMV

Last updated Aug 2, 2026
Documentation

SMDV (ProShares Russell 2000 Dividend Growers ETF) and SMMV (iShares MSCI USA Small-Cap Min Vol Factor ETF) are both Small Cap Blend Equities funds - SMDV tracks the Russell 2000 Dividend Growth Index while SMMV tracks the MSCI USA Small Cap Minimum Volatility (USD) Index. Both are passively managed. Over the past 5 years, SMDV returned 6.99%/yr vs 6.29%/yr for SMMV. Their correlation of 0.83 means they have usually moved in the same direction. SMDV charges 0.40%/yr vs 0.20%/yr for SMMV.

Performance

SMDV vs. SMMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Russell 2000 Dividend Growers ETF (SMDV) and iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SMDV achieves a 18.11% return, which is significantly higher than SMMV's 9.33% 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%

SMMV

1D
-0.06%
1M
0.56%
6M
7.36%
YTD
9.33%
1Y
16.10%
3Y*
12.24%
5Y*
6.29%
10Y*
—
ALL TIME*
8.71%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

SMDV

ProShares Russell 2000 Dividend Growers ETF
$4.61M$5.90M$3.47M

SMMV

iShares MSCI USA Small-Cap Min Vol Factor ETF
$337.38K$347.17K$431.55K

SMDV vs. SMMV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%4.63%
SMMV
iShares MSCI USA Small-Cap Min Vol Factor ETF		9.33%6.42%18.29%5.63%-10.00%16.64%-2.88%24.21%1.15%14.31%

Correlation

The correlation between SMDV and SMMV is 0.79, 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.

0.79

Correlation (3Y)
Balances recent behavior with more history.

0.85

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.87

Correlation (All Time)
Calculated using the full available price history since Sep 9, 2016

0.83

The correlation between SMDV and SMMV has been stable across timeframes, ranging from 0.79 to 0.87 - a consistent structural relationship.

SMDV vs. SMMV - Sectors Allocation Comparison

Sectors
SMDV
SMMV

Financial Services

31.5%
9.2%

Industrials

21.8%
13.6%

Utilities

17.3%
7.5%

Basic Materials

10.5%
1.6%

Real Estate

6.0%
12.5%

Consumer Cyclical

5.1%
5.3%

Consumer Defensive

3.9%
7.6%

Healthcare

1.9%
18.7%

Communication Services

1.1%
5.1%

Technology

0.8%
13.7%

Energy

-

5.2%

Financial Services

SMDV
31.5%
SMMV
9.2%

Industrials

SMDV
21.8%
SMMV
13.6%

Utilities

SMDV
17.3%
SMMV
7.5%

Basic Materials

SMDV
10.5%
SMMV
1.6%

Real Estate

SMDV
6.0%
SMMV
12.5%

Consumer Cyclical

SMDV
5.1%
SMMV
5.3%

Consumer Defensive

SMDV
3.9%
SMMV
7.6%

Healthcare

SMDV
1.9%
SMMV
18.7%

Communication Services

SMDV
1.1%
SMMV
5.1%

Technology

SMDV
0.8%
SMMV
13.7%

Energy

SMDV

-

SMMV
5.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

ProShares Russell 2000 Dividend Growers ETF

iShares MSCI USA Small-Cap Min Vol Factor ETF

Often compared with SMDV:
SMDV vs. SCHDSMDV vs. REGLSMDV vs. TDVSMDV vs. RWJSMDV vs. NOBLSMDV vs. SPYSMDV vs. VBR
Often compared with SMMV:
SMMV vs. SMLFSMMV vs. SMLVSMMV vs. USMVSMMV vs. XMU.TOSMMV vs. VBSMMV vs. IWMSMMV vs. IVV

Return for Risk

SMDV vs. SMMV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
SMDV
SMDV Risk / Return Rank: 6464
Overall Rank
SMDV Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
SMDV Sortino Ratio Rank: 7171
Sortino Ratio Rank
SMDV Omega Ratio Rank: 6161
Omega Ratio Rank
SMDV Calmar Ratio Rank: 6666
Calmar Ratio Rank
SMDV Martin Ratio Rank: 6161
Martin Ratio Rank
SMMV
SMMV Risk / Return Rank: 6666
Overall Rank
SMMV Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
SMMV Sortino Ratio Rank: 7575
Sortino Ratio Rank
SMMV Omega Ratio Rank: 6868
Omega Ratio Rank
SMMV Calmar Ratio Rank: 6363
Calmar Ratio Rank
SMMV Martin Ratio Rank: 5656
Martin Ratio Rank
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. SMMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Russell 2000 Dividend Growers ETF (SMDV) and iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV). 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.

SMDVSMMVDifference
Sharpe ratioReturn per unit of total volatility
1.46
1.58

-0.12

Sortino ratioReturn per unit of downside risk
2.30
2.42

-0.12

Omega ratioGain probability vs. loss probability

1.26

1.28

-0.02

Calmar ratioReturn relative to maximum drawdown

2.30

2.19

+0.10

Martin ratioReturn relative to average drawdown

7.27

6.75

+0.51

SMDV vs. SMMV - Sharpe Ratio Comparison

The current SMDV Sharpe Ratio is 1.46, which is comparable to the SMMV Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of SMDV and SMMV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

SMDV vs. SMMV - Drawdown Comparison

The maximum SMDV drawdown since its inception was -34.12%, smaller than the maximum SMMV drawdown of -38.77%. Use the drawdown chart below to compare losses from any high point for SMDV and SMMV.

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Drawdown Indicators

SMDVSMMVDifference

Max Drawdown

Largest peak-to-trough decline

-34.12%

-38.77%

+4.65%

Max Drawdown (1Y)

Largest decline over 1 year

-9.79%

-7.02%

-2.77%

Max Drawdown (3Y)

Largest decline over 3 years

-21.23%

-13.68%

-7.55%

Max Drawdown (5Y)

Largest decline over 5 years

-21.23%

-18.00%

-3.23%

Max Drawdown (10Y)

Largest decline over 10 years

-34.12%

—

—

Current Drawdown

Current decline from peak

-2.36%

-1.07%

-1.29%

Average Drawdown

Average peak-to-trough decline

-5.87%

-5.04%

-0.83%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.09%

2.28%

+0.81%

Volatility

SMDV vs. SMMV - Volatility Comparison

ProShares Russell 2000 Dividend Growers ETF (SMDV) has a higher volatility of 4.40% compared to iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV) at 2.85%. This indicates that SMDV's price experiences larger fluctuations and is considered to be riskier than SMMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SMDVSMMVDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.40%

2.85%

+1.55%

Volatility (6M)

Calculated over the trailing 6-month period

10.24%

6.98%

+3.26%

Volatility (1Y)

Calculated over the trailing 1-year period

15.45%

9.75%

+5.70%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.56%

13.44%

+5.12%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.75%

15.62%

+5.13%

SMDV vs. SMMV - Expense Ratio Comparison

SMDV has a 0.40% expense ratio, which is higher than SMMV's 0.20% expense ratio.

Dividends

SMDV vs. SMMV - Dividend Comparison

SMDV's dividend yield for the trailing twelve months is around 2.29%, more than SMMV's 1.66% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
SMMV
iShares MSCI USA Small-Cap Min Vol Factor ETF		1.66%1.77%1.76%2.30%1.67%1.08%1.39%1.64%1.72%1.63%0.79%0.00%

Frequently Asked Questions

SMDV and SMMV have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SMDV has higher volatility (4.40%) compared to SMMV (2.85%). In terms of maximum drawdown, SMDV dropped -34.12% vs SMMV's -38.77%.

On 5-year performance, SMDV leads with 6.99% vs 6.29% for SMMV. On fees, SMMV is cheaper at 0.20% per year. On volatility, SMMV has been the lower-risk option at 2.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, SMDV has performed better with a 6.99% return vs 6.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SMMV is cheaper with a 0.20% expense ratio, compared with 0.40% for SMDV.

SMDV has the higher dividend yield at 2.29%, compared with 1.66% for SMMV.

SMDV tracks Russell 2000 Dividend Growth Index, while SMMV tracks MSCI USA Small Cap Minimum Volatility (USD) Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.40% for SMDV and 0.20% for SMMV.

SMMV currently has the higher Sharpe Ratio (1.58 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.

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