SMIZ vs. GROZ

Last updated Jun 4, 2026

SMIZ (Zacks Small/Mid Cap ETF) and GROZ (Zacks Focus Growth ETF) are both exchange-traded funds - SMIZ is a Mid Cap Blend Equities fund actively managed by Zacks, while GROZ is a Large Cap Growth Equities fund actively managed by Zacks. Both are actively managed. Over the past year, SMIZ returned 30.97% vs 29.02% for GROZ. A 0.75 correlation means they provide meaningful diversification when combined. Both charge a 0.56% expense ratio.

Performance

SMIZ vs. GROZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Zacks Small/Mid Cap ETF (SMIZ) and Zacks Focus Growth ETF (GROZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMIZ achieves a 15.79% return, which is significantly higher than GROZ's 8.57% return.

SMIZ

• 1D: -0.83%
• 1M: 3.15%
• YTD: 15.79%
• 6M: 14.09%
• 1Y: 30.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GROZ

• 1D: -0.82%
• 1M: 4.91%
• YTD: 8.57%
• 6M: 7.82%
• 1Y: 29.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMIZ vs. GROZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SMIZ Zacks Small/Mid Cap ETF	15.79%	12.16%	-7.69%
GROZ Zacks Focus Growth ETF	8.57%	20.28%	-1.80%

Correlation

The correlation between SMIZ and GROZ is 0.71, 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	0.71
Correlation (All Time) Calculated using the full available price history since Dec 6, 2024	0.75

The correlation between SMIZ and GROZ has been stable across timeframes, ranging from 0.71 to 0.75 - a consistent structural relationship.

Return for Risk

SMIZ vs. GROZ — Risk / Return Rank

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

SMIZ

SMIZ Risk / Return Rank: 58
SMIZ Sharpe Ratio Rank: 55
SMIZ Sortino Ratio Rank: 55
SMIZ Omega Ratio Rank: 53
SMIZ Calmar Ratio Rank: 61
SMIZ Martin Ratio Rank: 65

GROZ

GROZ Risk / Return Rank: 51
GROZ Sharpe Ratio Rank: 57
GROZ Sortino Ratio Rank: 55
GROZ Omega Ratio Rank: 53
GROZ Calmar Ratio Rank: 43
GROZ Martin Ratio Rank: 48

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.

SMIZ vs. GROZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Zacks Small/Mid Cap ETF (SMIZ) and Zacks Focus Growth ETF (GROZ). 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.

	SMIZ	GROZ	Difference
Sharpe ratio: Return per unit of total volatility	1.86	1.91	-0.06
Sortino ratio: Return per unit of downside risk	2.63	2.63	+0.01
Omega ratio: Gain probability vs. loss probability	1.33	1.33	0.00
Calmar ratio: Return relative to maximum drawdown	2.96	2.13	+0.83
Martin ratio: Return relative to average drawdown	11.82	7.90	+3.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMIZ vs. GROZ - Sharpe Ratio Comparison

The current SMIZ Sharpe Ratio is 1.86, which is comparable to the GROZ Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of SMIZ and GROZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SMIZ	GROZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.86	1.91	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	1.29	0.84	+0.45

Drawdowns

SMIZ vs. GROZ - Drawdown Comparison

The maximum SMIZ drawdown since its inception was -25.04%, which is greater than GROZ's maximum drawdown of -23.33%. Use the drawdown chart below to compare losses from any high point for SMIZ and GROZ.

Drawdown Indicators

	SMIZ	GROZ	Difference
Max Drawdown Largest peak-to-trough decline	-25.04%	-23.33%	-1.71%
Max Drawdown (1Y) Largest decline over 1 year	-10.51%	-13.67%	+3.16%
Current Drawdown Current decline from peak	-0.83%	-1.06%	+0.23%
Average Drawdown Average peak-to-trough decline	-3.97%	-4.06%	+0.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.63%	3.69%	-1.06%

Volatility

SMIZ vs. GROZ - Volatility Comparison

Zacks Small/Mid Cap ETF (SMIZ) has a higher volatility of 4.59% compared to Zacks Focus Growth ETF (GROZ) at 3.61%. This indicates that SMIZ's price experiences larger fluctuations and is considered to be riskier than GROZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMIZ	GROZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.59%	3.61%	+0.98%
Volatility (6M) Calculated over the trailing 6-month period	12.79%	11.30%	+1.49%
Volatility (1Y) Calculated over the trailing 1-year period	16.76%	15.24%	+1.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.89%	21.95%	-3.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.89%	21.95%	-3.06%

SMIZ vs. GROZ - Expense Ratio Comparison

Both SMIZ and GROZ have an expense ratio of 0.56%.

Dividends

SMIZ vs. GROZ - Dividend Comparison

SMIZ's dividend yield for the trailing twelve months is around 0.53%, more than GROZ's 0.04% yield.

Position	TTM	2025	2024	2023
GROZ Zacks Focus Growth ETF	0.04%	0.04%	0.00%	0.00%
SMIZ Zacks Small/Mid Cap ETF	0.53%	0.62%	1.57%	0.07%

Frequently Asked Questions

Can I hold both SMIZ and GROZ in my portfolio?

SMIZ and GROZ have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMIZ or GROZ?

SMIZ has higher volatility (4.59%) compared to GROZ (3.61%). In terms of maximum drawdown, SMIZ dropped -25.04% vs GROZ's -23.33%.

Which ETF is better, SMIZ or GROZ?

On 1-year performance, SMIZ leads with 30.97% vs 29.02% for GROZ. Both ETFs have the same 0.56% expense ratio. On volatility, GROZ has been the lower-risk option at 3.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMIZ or GROZ?

Over the 1-year period, SMIZ has performed better with a 30.97% return vs 29.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMIZ or GROZ?

SMIZ and GROZ have the same expense ratio: 0.56% per year.

Which ETF pays a higher dividend yield, SMIZ or GROZ?

SMIZ has the higher dividend yield at 0.53%, compared with 0.04% for GROZ.

What is the main difference between SMIZ and GROZ?

SMIZ is categorized as Mid Cap Blend Equities, while GROZ is Large Cap Growth Equities.

Which has better risk-adjusted returns?

GROZ currently has the higher Sharpe Ratio (1.91 vs 1.86), 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.