SMDX vs. VPC

Last updated Apr 1, 2026

Compare and contrast key facts about Intech S&P Small-Mid Cap Diversified Alpha ETF (SMDX) and Virtus Private Credit Strategy ETF (VPC).

SMDX and VPC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SMDX is an actively managed fund by Intech. It was launched on Feb 27, 2025. VPC is a passively managed fund by Virtus Investment Partners that tracks the performance of the Indxx Private Credit Index. It was launched on Feb 7, 2019.

Performance

SMDX vs. VPC - 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 Virtus Private Credit Strategy ETF (VPC). The values are adjusted to include any dividend payments, if applicable.

SMDX vs. VPC - Yearly Performance Comparison

	2026 (YTD)	2025
SMDX Intech S&P Small-Mid Cap Diversified Alpha ETF	2.96%	14.21%
VPC Virtus Private Credit Strategy ETF	-11.66%	-10.45%

Returns By Period

In the year-to-date period, SMDX achieves a 2.96% return, which is significantly higher than VPC's -11.66% return.

SMDX

• 1D: 2.77%
• 1M: -4.72%
• YTD: 2.96%
• 6M: 4.62%
• 1Y: 22.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VPC

• 1D: 2.93%
• 1M: -0.03%
• YTD: -11.66%
• 6M: -12.28%
• 1Y: -16.52%
• 3Y*: 2.20%
• 5Y*: 2.19%
• 10Y*: —

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

SMDX vs. VPC - Expense Ratio Comparison

SMDX has a 0.35% expense ratio, which is lower than VPC's 5.53% expense ratio.

VPC

Virtus Private Credit Strategy ETF

SMDX

Intech S&P Small-Mid Cap Diversified Alpha ETF

Return for Risk

SMDX vs. VPC — Risk / Return Rank

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

SMDX

SMDX Risk / Return Rank: 62
SMDX Sharpe Ratio Rank: 57
SMDX Sortino Ratio Rank: 56
SMDX Omega Ratio Rank: 54
SMDX Calmar Ratio Rank: 74
SMDX Martin Ratio Rank: 70

VPC

VPC Risk / Return Rank: 1
VPC Sharpe Ratio Rank: 0
VPC Sortino Ratio Rank: 1
VPC Omega Ratio Rank: 1
VPC Calmar Ratio Rank: 2
VPC Martin Ratio Rank: 1

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. VPC - 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 Virtus Private Credit Strategy ETF (VPC). 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.

	SMDX	VPC	Difference
Sharpe ratio Return per unit of total volatility	1.04	-1.00	+2.04
Sortino ratio Return per unit of downside risk	1.52	-1.30	+2.82
Omega ratio Gain probability vs. loss probability	1.21	0.83	+0.38
Calmar ratio Return relative to maximum drawdown	2.01	-0.74	+2.75
Martin ratio Return relative to average drawdown	7.55	-1.75	+9.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMDX vs. VPC - Sharpe Ratio Comparison

The current SMDX Sharpe Ratio is 1.04, which is higher than the VPC Sharpe Ratio of -1.00. The chart below compares the historical Sharpe Ratios of SMDX and VPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SMDX	VPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.04	-1.00	+2.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.16	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.18	+0.55

Correlation

The correlation between SMDX and VPC is 0.53, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

SMDX vs. VPC - Dividend Comparison

SMDX's dividend yield for the trailing twelve months is around 0.59%, less than VPC's 17.77% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
SMDX Intech S&P Small-Mid Cap Diversified Alpha ETF	0.59%	0.61%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VPC Virtus Private Credit Strategy ETF	17.77%	14.33%	11.26%	11.71%	10.74%	6.31%	10.06%	8.19%

Drawdowns

SMDX vs. VPC - Drawdown Comparison

The maximum SMDX drawdown since its inception was -14.52%, smaller than the maximum VPC drawdown of -53.45%. Use the drawdown chart below to compare losses from any high point for SMDX and VPC.

Drawdown Indicators

	SMDX	VPC	Difference
Max Drawdown Largest peak-to-trough decline	-14.52%	-53.45%	+38.93%
Max Drawdown (1Y) Largest decline over 1 year	-12.06%	-22.76%	+10.70%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.86%	—
Current Drawdown Current decline from peak	-6.13%	-21.75%	+15.62%
Average Drawdown Average peak-to-trough decline	-2.54%	-7.41%	+4.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.22%	9.59%	-6.37%

Volatility

SMDX vs. VPC - Volatility Comparison

Intech S&P Small-Mid Cap Diversified Alpha ETF (SMDX) has a higher volatility of 6.38% compared to Virtus Private Credit Strategy ETF (VPC) at 5.51%. This indicates that SMDX's price experiences larger fluctuations and is considered to be riskier than VPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMDX	VPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.38%	5.51%	+0.87%
Volatility (6M) Calculated over the trailing 6-month period	12.20%	10.48%	+1.72%
Volatility (1Y) Calculated over the trailing 1-year period	21.52%	16.60%	+4.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.98%	13.39%	+8.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.98%	20.68%	+1.30%