SMIG vs. REGL

Last updated Jun 24, 2026

SMIG (Bahl & Gaynor Small/Mid Cap Income Growth ETF) and REGL (ProShares S&P MidCap 400 Dividend Aristocrats ETF) are both exchange-traded funds - SMIG is a Small Cap Value Equities fund actively managed by Bahl & Gaynor, while REGL is a Mid Cap Value Equities fund tracking the S&P MidCap 400 Dividend Aristocrats Index. SMIG is actively managed, while REGL is passively managed. Over the past 3 years, SMIG returned 13.57%/yr vs 12.57%/yr for REGL. Their correlation of 0.91 suggests significant overlap in exposure. SMIG charges 0.60%/yr vs 0.40%/yr for REGL.

Performance

SMIG vs. REGL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bahl & Gaynor Small/Mid Cap Income Growth ETF (SMIG) 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, SMIG achieves a 12.95% return, which is significantly higher than REGL's 8.22% return.

SMIG

• 1D: -0.15%
• 1M: 1.34%
• YTD: 12.95%
• 6M: 11.75%
• 1Y: 14.54%
• 3Y*: 13.57%
• 5Y*: —
• 10Y*: —

REGL

• 1D: 0.50%
• 1M: 1.92%
• YTD: 8.22%
• 6M: 6.56%
• 1Y: 13.68%
• 3Y*: 12.57%
• 5Y*: 7.41%
• 10Y*: 9.68%

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

SMIG vs. REGL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SMIG Bahl & Gaynor Small/Mid Cap Income Growth ETF	12.95%	0.78%	17.63%	13.62%	-11.83%	5.23%
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF	8.22%	6.89%	12.26%	5.41%	-0.62%	3.79%

Correlation

The correlation between SMIG and REGL is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (All Time) Calculated using the full available price history since Aug 26, 2021	0.91

The correlation between SMIG and REGL has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.

SMIG vs. REGL - Sectors Allocation Comparison

Sectors	SMIG	REGL
Financial Services	21.1%	31.0%
Industrials	18.2%	15.2%
Consumer Cyclical	13.5%	10.7%
Technology	10.7%	1.9%
Energy	10.4%	3.1%
Utilities	9.8%	13.7%
Real Estate	9.8%	7.8%
Healthcare	2.7%	4.6%
Communication Services	2.2%	-
Basic Materials	2.0%	9.2%
Consumer Defensive	1.9%	2.8%

Return for Risk

SMIG vs. REGL — Risk / Return Rank

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

SMIG

SMIG Risk / Return Rank: 36
SMIG Sharpe Ratio Rank: 37
SMIG Sortino Ratio Rank: 38
SMIG Omega Ratio Rank: 34
SMIG Calmar Ratio Rank: 37
SMIG Martin Ratio Rank: 32

REGL

REGL Risk / Return Rank: 30
REGL Sharpe Ratio Rank: 30
REGL Sortino Ratio Rank: 31
REGL Omega Ratio Rank: 28
REGL Calmar Ratio Rank: 29
REGL Martin Ratio Rank: 32

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.

SMIG vs. REGL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bahl & Gaynor Small/Mid Cap Income Growth ETF (SMIG) 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.

	SMIG	REGL	Difference
Sharpe ratio: Return per unit of total volatility	1.22	1.04	+0.17
Sortino ratio: Return per unit of downside risk	1.86	1.61	+0.25
Omega ratio: Gain probability vs. loss probability	1.21	1.18	+0.03
Calmar ratio: Return relative to maximum drawdown	1.71	1.42	+0.29
Martin ratio: Return relative to average drawdown	4.45	4.41	+0.04

SMIG vs. REGL - Sharpe Ratio Comparison

The current SMIG Sharpe Ratio is 1.22, which is comparable to the REGL Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of SMIG 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

SMIG vs. REGL - Drawdown Comparison

The maximum SMIG drawdown since its inception was -19.65%, smaller than the maximum REGL drawdown of -36.37%. Use the drawdown chart below to compare losses from any high point for SMIG and REGL.

Drawdown Indicators

	SMIG	REGL	Difference
Max Drawdown Largest peak-to-trough decline	-19.65%	-36.37%	+16.72%
Max Drawdown (1Y) Largest decline over 1 year	-8.52%	-9.67%	+1.15%
Max Drawdown (3Y) Largest decline over 3 years	-19.23%	-16.96%	-2.27%
Max Drawdown (5Y) Largest decline over 5 years	—	-16.96%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-36.37%	—
Current Drawdown Current decline from peak	-0.15%	-1.97%	+1.82%
Average Drawdown Average peak-to-trough decline	-6.48%	-4.08%	-2.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.27%	3.11%	+0.16%

Volatility

SMIG vs. REGL - Volatility Comparison

Bahl & Gaynor Small/Mid Cap Income Growth ETF (SMIG) and ProShares S&P MidCap 400 Dividend Aristocrats ETF (REGL) have volatilities of 3.60% and 3.57%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMIG	REGL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.60%	3.57%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	8.48%	9.31%	-0.83%
Volatility (1Y) Calculated over the trailing 1-year period	12.05%	13.24%	-1.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.16%	16.06%	+0.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.16%	18.32%	-2.16%

SMIG vs. REGL - Expense Ratio Comparison

SMIG has a 0.60% expense ratio, which is higher than REGL's 0.40% expense ratio.

Dividends

SMIG vs. REGL - Dividend Comparison

SMIG's dividend yield for the trailing twelve months is around 1.71%, less than REGL's 2.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF	2.15%	2.32%	2.28%	2.40%	2.32%	2.50%	2.41%	1.96%	2.09%	1.63%	1.20%	1.66%
SMIG Bahl & Gaynor Small/Mid Cap Income Growth ETF	1.71%	1.82%	1.75%	1.91%	2.00%	0.50%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SMIG and REGL in my portfolio?

SMIG and REGL have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMIG or REGL?

SMIG has higher volatility (3.60%) compared to REGL (3.57%). In terms of maximum drawdown, SMIG dropped -19.65% vs REGL's -36.37%.

Which ETF is better, SMIG or REGL?

On 3-year performance, SMIG leads with 13.57% vs 12.57% for REGL. On fees, REGL is cheaper at 0.40% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMIG or REGL?

Over the 3-year period, SMIG has performed better with a 13.57% return vs 12.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMIG or REGL?

REGL is cheaper with a 0.40% expense ratio, compared with 0.60% for SMIG.

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

REGL has the higher dividend yield at 2.15%, compared with 1.71% for SMIG.

What is the main difference between SMIG and REGL?

SMIG is categorized as Small Cap Value Equities, while REGL is Mid Cap Value Equities. They also come from different issuers: Bahl & Gaynor and ProShares. Their fees differ too: 0.60% for SMIG and 0.40% for REGL.

Which has better risk-adjusted returns?

SMIG currently has the higher Sharpe Ratio (1.22 vs 1.04), 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.