SMLF vs. FZIPX
Compare and contrast key facts about iShares MSCI USA Small-Cap Multifactor ETF (SMLF) and Fidelity ZERO Extended Market Index Fund (FZIPX).
SMLF is a passively managed fund by iShares that tracks the performance of the MSCI USA Small Cap Diversified Multi-Factor. It was launched on Apr 28, 2015. FZIPX is managed by Fidelity.
Performance
SMLF vs. FZIPX - Performance Comparison
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SMLF vs. FZIPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SMLF iShares MSCI USA Small-Cap Multifactor ETF | 1.08% | 12.30% | 16.33% | 19.99% | -12.19% | 26.53% | 8.38% | 21.56% | -17.25% |
FZIPX Fidelity ZERO Extended Market Index Fund | -1.78% | 12.51% | 12.39% | 18.13% | -18.01% | 21.31% | 16.64% | 26.50% | -17.57% |
Returns By Period
In the year-to-date period, SMLF achieves a 1.08% return, which is significantly higher than FZIPX's -1.78% return.
SMLF
- 1D
- 3.34%
- 1M
- -4.37%
- YTD
- 1.08%
- 6M
- 2.12%
- 1Y
- 22.93%
- 3Y*
- 15.22%
- 5Y*
- 8.55%
- 10Y*
- 11.24%
FZIPX
- 1D
- -1.26%
- 1M
- -8.55%
- YTD
- -1.78%
- 6M
- 0.33%
- 1Y
- 18.79%
- 3Y*
- 12.32%
- 5Y*
- 5.14%
- 10Y*
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SMLF vs. FZIPX - Expense Ratio Comparison
SMLF has a 0.30% expense ratio, which is higher than FZIPX's 0.00% expense ratio.
Return for Risk
SMLF vs. FZIPX — Risk / Return Rank
SMLF
FZIPX
SMLF vs. FZIPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Small-Cap Multifactor ETF (SMLF) and Fidelity ZERO Extended Market Index Fund (FZIPX). 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.
| SMLF | FZIPX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.02 | 0.86 | +0.16 |
Sortino ratioReturn per unit of downside risk | 1.55 | 1.33 | +0.22 |
Omega ratioGain probability vs. loss probability | 1.21 | 1.18 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 1.56 | 1.15 | +0.41 |
Martin ratioReturn relative to average drawdown | 6.74 | 4.98 | +1.76 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SMLF | FZIPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.02 | 0.86 | +0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.41 | 0.25 | +0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.52 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.33 | +0.15 |
Correlation
The correlation between SMLF and FZIPX is 0.97, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
SMLF vs. FZIPX - Dividend Comparison
SMLF's dividend yield for the trailing twelve months is around 1.17%, less than FZIPX's 1.27% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMLF iShares MSCI USA Small-Cap Multifactor ETF | 1.17% | 1.14% | 1.33% | 1.13% | 1.23% | 1.07% | 1.33% | 1.39% | 1.17% | 0.93% | 0.78% | 0.79% |
FZIPX Fidelity ZERO Extended Market Index Fund | 1.27% | 1.24% | 1.22% | 1.43% | 1.64% | 6.97% | 2.15% | 1.80% | 0.50% | 0.00% | 0.00% | 0.00% |
Drawdowns
SMLF vs. FZIPX - Drawdown Comparison
The maximum SMLF drawdown since its inception was -41.89%, roughly equal to the maximum FZIPX drawdown of -42.71%. Use the drawdown chart below to compare losses from any high point for SMLF and FZIPX.
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Drawdown Indicators
| SMLF | FZIPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.89% | -42.71% | +0.82% |
Max Drawdown (1Y)Largest decline over 1 year | -14.59% | -14.33% | -0.26% |
Max Drawdown (5Y)Largest decline over 5 years | -26.28% | -28.19% | +1.91% |
Max Drawdown (10Y)Largest decline over 10 years | -41.89% | — | — |
Current DrawdownCurrent decline from peak | -5.66% | -9.61% | +3.95% |
Average DrawdownAverage peak-to-trough decline | -6.68% | -9.09% | +2.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.38% | 3.31% | +0.07% |
Volatility
SMLF vs. FZIPX - Volatility Comparison
iShares MSCI USA Small-Cap Multifactor ETF (SMLF) has a higher volatility of 7.09% compared to Fidelity ZERO Extended Market Index Fund (FZIPX) at 6.41%. This indicates that SMLF's price experiences larger fluctuations and is considered to be riskier than FZIPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMLF | FZIPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.09% | 6.41% | +0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 13.36% | 12.90% | +0.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.67% | 22.07% | +0.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.14% | 20.87% | +0.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.75% | 23.95% | -2.20% |