SMIZ vs. OPTZ

Last updated Jun 4, 2026

SMIZ (Zacks Small/Mid Cap ETF) and OPTZ (Optimize Strategy Index ETF) are both Mid Cap Blend Equities funds. SMIZ is actively managed, while OPTZ is passively managed. Over the past year, SMIZ returned 30.97% vs 61.30% for OPTZ. Their correlation of 0.91 suggests significant overlap in exposure. SMIZ charges 0.56%/yr vs 0.25%/yr for OPTZ.

Performance

SMIZ vs. OPTZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Zacks Small/Mid Cap ETF (SMIZ) and Optimize Strategy Index ETF (OPTZ). 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 lower than OPTZ's 31.51% return.

SMIZ

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

OPTZ

• 1D: 0.36%
• 1M: 12.33%
• YTD: 31.51%
• 6M: 32.28%
• 1Y: 61.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMIZ vs. OPTZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SMIZ Zacks Small/Mid Cap ETF	15.79%	12.16%	12.39%
OPTZ Optimize Strategy Index ETF	31.51%	22.83%	16.81%

Correlation

The correlation between SMIZ and OPTZ is 0.89, 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	0.89
Correlation (All Time) Calculated using the full available price history since Apr 24, 2024	0.91

The correlation between SMIZ and OPTZ has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.

SMIZ vs. OPTZ - Sectors Allocation Comparison

Sectors	SMIZ	OPTZ
Technology	24.7%	50.6%
Industrials	21.6%	8.9%
Financial Services	21.0%	9.1%
Healthcare	8.1%	10.5%
Consumer Cyclical	6.1%	9.5%
Consumer Defensive	4.2%	4.0%
Real Estate	3.5%	1.5%
Basic Materials	3.1%	1.3%
Energy	2.9%	1.5%
Utilities	2.6%	0.7%
Communication Services	2.4%	2.6%

Return for Risk

SMIZ vs. OPTZ — 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

OPTZ

OPTZ Risk / Return Rank: 92
OPTZ Sharpe Ratio Rank: 93
OPTZ Sortino Ratio Rank: 92
OPTZ Omega Ratio Rank: 89
OPTZ Calmar Ratio Rank: 91
OPTZ Martin Ratio Rank: 94

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. OPTZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Zacks Small/Mid Cap ETF (SMIZ) and Optimize Strategy Index ETF (OPTZ). 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	OPTZ	Difference
Sharpe ratio: Return per unit of total volatility	1.86	3.41	-1.56
Sortino ratio: Return per unit of downside risk	2.63	4.49	-1.85
Omega ratio: Gain probability vs. loss probability	1.33	1.57	-0.24
Calmar ratio: Return relative to maximum drawdown	2.96	5.80	-2.84
Martin ratio: Return relative to average drawdown	11.82	26.36	-14.54
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. OPTZ - Sharpe Ratio Comparison

The current SMIZ Sharpe Ratio is 1.86, which is lower than the OPTZ Sharpe Ratio of 3.41. The chart below compares the historical Sharpe Ratios of SMIZ and OPTZ, 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	OPTZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.86	3.41	-1.56
Sharpe Ratio (All Time) Calculated using the full available price history	1.29	1.71	-0.42

Drawdowns

SMIZ vs. OPTZ - Drawdown Comparison

The maximum SMIZ drawdown since its inception was -25.04%, roughly equal to the maximum OPTZ drawdown of -25.75%. Use the drawdown chart below to compare losses from any high point for SMIZ and OPTZ.

Drawdown Indicators

	SMIZ	OPTZ	Difference
Max Drawdown Largest peak-to-trough decline	-25.04%	-25.75%	+0.71%
Max Drawdown (1Y) Largest decline over 1 year	-10.51%	-10.63%	+0.12%
Current Drawdown Current decline from peak	-0.83%	0.00%	-0.83%
Average Drawdown Average peak-to-trough decline	-3.97%	-3.39%	-0.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.63%	2.33%	+0.30%

Volatility

SMIZ vs. OPTZ - Volatility Comparison

The current volatility for Zacks Small/Mid Cap ETF (SMIZ) is 4.59%, while Optimize Strategy Index ETF (OPTZ) has a volatility of 6.09%. This indicates that SMIZ experiences smaller price fluctuations and is considered to be less risky than OPTZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMIZ	OPTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.59%	6.09%	-1.50%
Volatility (6M) Calculated over the trailing 6-month period	12.79%	13.52%	-0.73%
Volatility (1Y) Calculated over the trailing 1-year period	16.76%	18.09%	-1.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.89%	20.66%	-1.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.89%	20.66%	-1.77%

SMIZ vs. OPTZ - Expense Ratio Comparison

SMIZ has a 0.56% expense ratio, which is higher than OPTZ's 0.25% expense ratio.

Dividends

SMIZ vs. OPTZ - Dividend Comparison

SMIZ's dividend yield for the trailing twelve months is around 0.53%, more than OPTZ's 0.44% yield.

Position	TTM	2025	2024	2023
OPTZ Optimize Strategy Index ETF	0.44%	0.58%	0.32%	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 OPTZ in my portfolio?

SMIZ and OPTZ have a correlation of 0.89, 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 OPTZ?

OPTZ has higher volatility (6.09%) compared to SMIZ (4.59%). In terms of maximum drawdown, SMIZ dropped -25.04% vs OPTZ's -25.75%.

Which ETF is better, SMIZ or OPTZ?

On 1-year performance, OPTZ leads with 61.30% vs 30.97% for SMIZ. On fees, OPTZ is cheaper at 0.25% per year. On volatility, SMIZ has been the lower-risk option at 4.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMIZ or OPTZ?

Over the 1-year period, OPTZ has performed better with a 61.30% return vs 30.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMIZ or OPTZ?

OPTZ is cheaper with a 0.25% expense ratio, compared with 0.56% for SMIZ.

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

SMIZ has the higher dividend yield at 0.53%, compared with 0.44% for OPTZ.

What is the main difference between SMIZ and OPTZ?

They also come from different issuers: Zacks and Optimize. Their fees differ too: 0.56% for SMIZ and 0.25% for OPTZ.

Which has better risk-adjusted returns?

OPTZ currently has the higher Sharpe Ratio (3.41 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.