SMDX vs. LGDX

Last updated Aug 2, 2026

SMDX (Intech S&P Small-Mid Cap Diversified Alpha ETF) and LGDX (Intech S&P Large Cap Diversified Alpha ETF) are both exchange-traded funds - SMDX is a Small Cap Blend Equities fund actively managed by Intech, while LGDX is a Large Cap Blend Equities fund actively managed by Intech. Both are actively managed. Over the past year, SMDX returned 27.07% vs 18.65% for LGDX. Their 0.74 correlation means they have sometimes moved together and sometimes differently. SMDX charges 0.35%/yr vs 0.25%/yr for LGDX.

Performance

SMDX vs. LGDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Intech S&P Small-Mid Cap Diversified Alpha ETF (SMDX) and Intech S&P Large Cap Diversified Alpha ETF (LGDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMDX achieves a 16.32% return, which is significantly higher than LGDX's 9.17% return.

SMDX

• 1D: -0.19%
• 1M: -0.58%
• 6M: 11.52%
• YTD: 16.32%
• 1Y: 27.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 22.36%

LGDX

• 1D: 0.97%
• 1M: 1.12%
• 6M: 8.54%
• YTD: 9.17%
• 1Y: 18.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 17.42%

*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)
LGDX Intech S&P Large Cap Diversified Alpha ETF	$268.16	$559.48	$35.22K
SMDX Intech S&P Small-Mid Cap Diversified Alpha ETF	$1.21K	$3.64K	$6.44K

SMDX vs. LGDX - Yearly Performance Comparison

	2026 (YTD)	2025
SMDX Intech S&P Small-Mid Cap Diversified Alpha ETF	16.32%	14.46%
LGDX Intech S&P Large Cap Diversified Alpha ETF	9.17%	15.03%

Correlation

The correlation between SMDX and LGDX is 0.72, 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.	0.72
Correlation (All Time) Calculated using the full available price history since Feb 28, 2025	0.74

The correlation between SMDX and LGDX has been stable across timeframes, ranging from 0.72 to 0.74 - a consistent structural relationship.

Return for Risk

SMDX vs. LGDX — Risk / Return Rank

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

SMDX

SMDX Risk / Return Rank: 72
SMDX Sharpe Ratio Rank: 67
SMDX Sortino Ratio Rank: 72
SMDX Omega Ratio Rank: 65
SMDX Calmar Ratio Rank: 80
SMDX Martin Ratio Rank: 78

LGDX

LGDX Risk / Return Rank: 52
LGDX Sharpe Ratio Rank: 50
LGDX Sortino Ratio Rank: 48
LGDX Omega Ratio Rank: 47
LGDX Calmar Ratio Rank: 51
LGDX Martin Ratio Rank: 61

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.

SMDX vs. LGDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Intech S&P Small-Mid Cap Diversified Alpha ETF (SMDX) and Intech S&P Large Cap Diversified Alpha ETF (LGDX). 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.

	SMDX	LGDX	Difference
Sharpe ratio: Return per unit of total volatility	1.55	1.25	+0.31
Sortino ratio: Return per unit of downside risk	2.35	1.77	+0.58
Omega ratio: Gain probability vs. loss probability	1.28	1.22	+0.06
Calmar ratio: Return relative to maximum drawdown	2.90	1.86	+1.04
Martin ratio: Return relative to average drawdown	10.11	7.51	+2.61

SMDX vs. LGDX - Sharpe Ratio Comparison

The current SMDX Sharpe Ratio is 1.55, which is comparable to the LGDX Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of SMDX and LGDX, 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

SMDX vs. LGDX - Drawdown Comparison

The maximum SMDX drawdown since its inception was -14.52%, smaller than the maximum LGDX drawdown of -15.79%. Use the drawdown chart below to compare losses from any high point for SMDX and LGDX.

Drawdown Indicators

	SMDX	LGDX	Difference
Max Drawdown Largest peak-to-trough decline	-14.52%	-15.79%	+1.27%
Max Drawdown (1Y) Largest decline over 1 year	-8.66%	-8.96%	+0.30%
Current Drawdown Current decline from peak	-2.17%	-1.15%	-1.02%
Average Drawdown Average peak-to-trough decline	-2.26%	-2.05%	-0.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.48%	2.22%	+0.26%

Volatility

SMDX vs. LGDX - Volatility Comparison

The current volatility for Intech S&P Small-Mid Cap Diversified Alpha ETF (SMDX) is 3.53%, while Intech S&P Large Cap Diversified Alpha ETF (LGDX) has a volatility of 3.92%. This indicates that SMDX experiences smaller price fluctuations and is considered to be less risky than LGDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMDX	LGDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.53%	3.92%	-0.39%
Volatility (6M) Calculated over the trailing 6-month period	11.68%	10.43%	+1.25%
Volatility (1Y) Calculated over the trailing 1-year period	16.20%	13.37%	+2.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.44%	17.96%	+2.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.44%	17.96%	+2.48%

SMDX vs. LGDX - Expense Ratio Comparison

SMDX has a 0.35% expense ratio, which is higher than LGDX's 0.25% expense ratio.

Dividends

SMDX vs. LGDX - Dividend Comparison

SMDX's dividend yield for the trailing twelve months is around 0.52%, more than LGDX's 0.48% yield.

Position	TTM	2025
LGDX Intech S&P Large Cap Diversified Alpha ETF	0.48%	0.52%
SMDX Intech S&P Small-Mid Cap Diversified Alpha ETF	0.52%	0.61%

Frequently Asked Questions

Can I hold both SMDX and LGDX in my portfolio?

SMDX and LGDX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMDX or LGDX?

LGDX has higher volatility (3.92%) compared to SMDX (3.53%). In terms of maximum drawdown, SMDX dropped -14.52% vs LGDX's -15.79%.

Which ETF is better, SMDX or LGDX?

On 1-year performance, SMDX leads with 27.07% vs 18.65% for LGDX. On fees, LGDX is cheaper at 0.25% per year. On volatility, SMDX has been the lower-risk option at 3.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMDX or LGDX?

Over the 1-year period, SMDX has performed better with a 27.07% return vs 18.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMDX or LGDX?

LGDX is cheaper with a 0.25% expense ratio, compared with 0.35% for SMDX.

Which ETF pays a higher dividend yield, SMDX or LGDX?

SMDX has the higher dividend yield at 0.52%, compared with 0.48% for LGDX.

What is the main difference between SMDX and LGDX?

SMDX is categorized as Small Cap Blend Equities, while LGDX is Large Cap Blend Equities. Their fees differ too: 0.35% for SMDX and 0.25% for LGDX.

Which has better risk-adjusted returns?

SMDX currently has the higher Sharpe Ratio (1.55 vs 1.25), 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.