SMIG vs. WASMX

Last updated Jun 24, 2026

SMIG (Bahl & Gaynor Small/Mid Cap Income Growth ETF) and WASMX (Boston Trust Walden SMID Cap Fund) are both funds - SMIG is a Small Cap Value Equities fund actively managed by Bahl & Gaynor, while WASMX is a Mid Cap Blend Equities fund managed by Boston Trust Walden. Over the past 3 years, SMIG returned 13.57%/yr vs 9.26%/yr for WASMX. Their correlation of 0.92 suggests significant overlap in exposure. SMIG charges 0.60%/yr vs 1.00%/yr for WASMX.

Performance

SMIG vs. WASMX - 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 Boston Trust Walden SMID Cap Fund (WASMX). 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 WASMX's 3.12% return.

SMIG

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

WASMX

• 1D: 0.24%
• 1M: 2.16%
• YTD: 3.12%
• 6M: 1.50%
• 1Y: 5.85%
• 3Y*: 9.26%
• 5Y*: 5.15%
• 10Y*: 10.40%

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

SMIG vs. WASMX - 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%
WASMX Boston Trust Walden SMID Cap Fund	3.12%	0.31%	10.39%	16.40%	-14.57%	8.18%

Correlation

The correlation between SMIG and WASMX is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (All Time) Calculated using the full available price history since Aug 26, 2021	0.92

The correlation between SMIG and WASMX has been stable across timeframes, ranging from 0.86 to 0.92 - a consistent structural relationship.

Return for Risk

SMIG vs. WASMX — 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

WASMX

WASMX Risk / Return Rank: 7
WASMX Sharpe Ratio Rank: 7
WASMX Sortino Ratio Rank: 8
WASMX Omega Ratio Rank: 7
WASMX Calmar Ratio Rank: 8
WASMX Martin Ratio Rank: 7

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. WASMX - 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 Boston Trust Walden SMID Cap Fund (WASMX). 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	WASMX	Difference
Sharpe ratio: Return per unit of total volatility	1.22	0.56	+0.65
Sortino ratio: Return per unit of downside risk	1.86	0.95	+0.91
Omega ratio: Gain probability vs. loss probability	1.21	1.11	+0.11
Calmar ratio: Return relative to maximum drawdown	1.71	0.67	+1.04
Martin ratio: Return relative to average drawdown	4.45	1.86	+2.59

SMIG vs. WASMX - Sharpe Ratio Comparison

The current SMIG Sharpe Ratio is 1.22, which is higher than the WASMX Sharpe Ratio of 0.56. The chart below compares the historical Sharpe Ratios of SMIG and WASMX, 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. WASMX - Drawdown Comparison

The maximum SMIG drawdown since its inception was -19.65%, smaller than the maximum WASMX drawdown of -37.74%. Use the drawdown chart below to compare losses from any high point for SMIG and WASMX.

Drawdown Indicators

	SMIG	WASMX	Difference
Max Drawdown Largest peak-to-trough decline	-19.65%	-37.74%	+18.09%
Max Drawdown (1Y) Largest decline over 1 year	-8.52%	-11.38%	+2.86%
Max Drawdown (3Y) Largest decline over 3 years	-19.23%	-20.52%	+1.29%
Max Drawdown (5Y) Largest decline over 5 years	—	-23.07%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-37.74%	—
Current Drawdown Current decline from peak	-0.15%	-4.60%	+4.45%
Average Drawdown Average peak-to-trough decline	-6.48%	-5.22%	-1.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.27%	4.11%	-0.84%

Volatility

SMIG vs. WASMX - Volatility Comparison

Bahl & Gaynor Small/Mid Cap Income Growth ETF (SMIG) and Boston Trust Walden SMID Cap Fund (WASMX) have volatilities of 3.60% and 3.50%, 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	WASMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.60%	3.50%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	8.48%	9.37%	-0.89%
Volatility (1Y) Calculated over the trailing 1-year period	12.05%	13.65%	-1.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.16%	17.16%	-1.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.16%	18.61%	-2.45%

SMIG vs. WASMX - Expense Ratio Comparison

SMIG has a 0.60% expense ratio, which is lower than WASMX's 1.00% expense ratio.

Dividends

SMIG vs. WASMX - Dividend Comparison

SMIG's dividend yield for the trailing twelve months is around 1.71%, more than WASMX's 1.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
WASMX Boston Trust Walden SMID Cap Fund	1.60%	1.65%	1.67%	0.52%	4.90%	4.75%	1.86%	9.96%	4.40%	0.52%	5.41%	7.06%

Frequently Asked Questions

Can I hold both SMIG and WASMX in my portfolio?

SMIG and WASMX have a correlation of 0.86, 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 WASMX?

SMIG has higher volatility (3.60%) compared to WASMX (3.50%). In terms of maximum drawdown, SMIG dropped -19.65% vs WASMX's -37.74%.

Which has better risk-adjusted returns?

SMIG currently has the higher Sharpe Ratio (1.22 vs 0.56), 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.