SMDX vs. SMDV

Last updated Jul 12, 2026

SMDX (Intech S&P Small-Mid Cap Diversified Alpha ETF) and SMDV (ProShares Russell 2000 Dividend Growers ETF) are both Small Cap Blend Equities funds. SMDX is actively managed, while SMDV is passively managed. Over the past year, SMDX returned 25.55% vs 17.14% for SMDV. A 0.77 correlation means they provide meaningful diversification when combined. SMDX charges 0.35%/yr vs 0.40%/yr for SMDV.

Performance

SMDX vs. SMDV - 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 ProShares Russell 2000 Dividend Growers ETF (SMDV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with SMDX having a 17.00% return and SMDV slightly higher at 17.12%.

SMDX

• 1D: -0.01%
• 1M: 0.32%
• 6M: 12.75%
• YTD: 17.00%
• 1Y: 25.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SMDV

• 1D: 0.84%
• 1M: 2.47%
• 6M: 12.92%
• YTD: 17.12%
• 1Y: 17.14%
• 3Y*: 12.10%
• 5Y*: 6.72%
• 10Y*: 7.27%

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

SMDX vs. SMDV - Yearly Performance Comparison

	2026 (YTD)	2025
SMDX Intech S&P Small-Mid Cap Diversified Alpha ETF	17.00%	14.46%
SMDV ProShares Russell 2000 Dividend Growers ETF	17.12%	-0.88%

Correlation

The correlation between SMDX and SMDV is 0.77, 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	0.77
Correlation (All Time) Calculated using the full available price history since Feb 28, 2025	0.77

The correlation between SMDX and SMDV has been stable across timeframes, ranging from 0.77 to 0.77 - a consistent structural relationship.

Return for Risk

SMDX vs. SMDV — Risk / Return Rank

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

SMDX

SMDX Risk / Return Rank: 58
SMDX Sharpe Ratio Rank: 51
SMDX Sortino Ratio Rank: 55
SMDX Omega Ratio Rank: 50
SMDX Calmar Ratio Rank: 67
SMDX Martin Ratio Rank: 66

SMDV

SMDV Risk / Return Rank: 37
SMDV Sharpe Ratio Rank: 35
SMDV Sortino Ratio Rank: 38
SMDV Omega Ratio Rank: 33
SMDV Calmar Ratio Rank: 39
SMDV Martin Ratio Rank: 40

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.

SMDX vs. SMDV - 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 ProShares Russell 2000 Dividend Growers ETF (SMDV). 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	SMDV	Difference
Sharpe ratio: Return per unit of total volatility	1.41	1.03	+0.39
Sortino ratio: Return per unit of downside risk	2.14	1.63	+0.51
Omega ratio: Gain probability vs. loss probability	1.25	1.19	+0.07
Calmar ratio: Return relative to maximum drawdown	2.68	1.62	+1.07
Martin ratio: Return relative to average drawdown	9.36	4.99	+4.37

SMDX vs. SMDV - Sharpe Ratio Comparison

The current SMDX Sharpe Ratio is 1.41, which is higher than the SMDV Sharpe Ratio of 1.03. The chart below compares the historical Sharpe Ratios of SMDX and SMDV, 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. SMDV - Drawdown Comparison

The maximum SMDX drawdown since its inception was -14.52%, smaller than the maximum SMDV drawdown of -34.12%. Use the drawdown chart below to compare losses from any high point for SMDX and SMDV.

Drawdown Indicators

	SMDX	SMDV	Difference
Max Drawdown Largest peak-to-trough decline	-14.52%	-34.12%	+19.60%
Max Drawdown (1Y) Largest decline over 1 year	-8.66%	-9.79%	+1.13%
Max Drawdown (3Y) Largest decline over 3 years	—	-21.23%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.23%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-34.12%	—
Current Drawdown Current decline from peak	-1.60%	-1.42%	-0.18%
Average Drawdown Average peak-to-trough decline	-2.27%	-5.89%	+3.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.50%	3.23%	-0.73%

Volatility

SMDX vs. SMDV - Volatility Comparison

Intech S&P Small-Mid Cap Diversified Alpha ETF (SMDX) has a higher volatility of 4.24% compared to ProShares Russell 2000 Dividend Growers ETF (SMDV) at 3.78%. This indicates that SMDX's price experiences larger fluctuations and is considered to be riskier than SMDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMDX	SMDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.24%	3.78%	+0.46%
Volatility (6M) Calculated over the trailing 6-month period	11.75%	10.68%	+1.07%
Volatility (1Y) Calculated over the trailing 1-year period	16.53%	15.43%	+1.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.73%	18.58%	+2.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.73%	20.72%	+0.01%

SMDX vs. SMDV - Expense Ratio Comparison

SMDX has a 0.35% expense ratio, which is lower than SMDV's 0.40% expense ratio.

Dividends

SMDX vs. SMDV - Dividend Comparison

SMDX's dividend yield for the trailing twelve months is around 0.52%, less than SMDV's 2.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SMDV ProShares Russell 2000 Dividend Growers ETF	2.30%	2.67%	2.68%	2.69%	2.51%	2.02%	2.13%	2.03%	1.97%	1.84%	1.35%	1.81%
SMDX Intech S&P Small-Mid Cap Diversified Alpha ETF	0.52%	0.61%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SMDX and SMDV in my portfolio?

SMDX and SMDV have a correlation of 0.77, 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 SMDV?

SMDX has higher volatility (4.24%) compared to SMDV (3.78%). In terms of maximum drawdown, SMDX dropped -14.52% vs SMDV's -34.12%.

Which ETF is better, SMDX or SMDV?

On 1-year performance, SMDX leads with 25.55% vs 17.14% for SMDV. On fees, SMDX is cheaper at 0.35% per year. On volatility, SMDV has been the lower-risk option at 3.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMDX or SMDV?

Over the 1-year period, SMDX has performed better with a 25.55% return vs 17.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMDX or SMDV?

SMDX is cheaper with a 0.35% expense ratio, compared with 0.40% for SMDV.

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

SMDV has the higher dividend yield at 2.30%, compared with 0.52% for SMDX.

What is the main difference between SMDX and SMDV?

They also come from different issuers: Intech and ProShares. Their fees differ too: 0.35% for SMDX and 0.40% for SMDV.

Which has better risk-adjusted returns?

SMDX currently has the higher Sharpe Ratio (1.41 vs 1.03), 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.