SMLL vs. CVSM

Last updated Aug 2, 2026

SMLL (Harbor Active Small Cap ETF) and CVSM (CresAlta Small & Mid-Cap ETF) are both Small Cap Blend Equities funds. Both are actively managed. Their 0.68 correlation means they have sometimes moved together and sometimes differently. SMLL charges 0.80%/yr vs 0.55%/yr for CVSM.

Performance

SMLL vs. CVSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Active Small Cap ETF (SMLL) and CresAlta Small & Mid-Cap ETF (CVSM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SMLL

• 1D: 0.06%
• 1M: 0.10%
• 6M: 5.67%
• YTD: 7.95%
• 1Y: 5.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.30%

CVSM

• 1D: -1.17%
• 1M: 0.46%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CVSM CresAlta Small & Mid-Cap ETF	$48.53K	$49.87K	$42.10K
SMLL Harbor Active Small Cap ETF	$12.67K	$15.57K	$37.20K

SMLL vs. CVSM - Yearly Performance Comparison

	2026 (YTD)
SMLL Harbor Active Small Cap ETF	8.27%
CVSM CresAlta Small & Mid-Cap ETF	4.43%

Correlation

The correlation between SMLL and CVSM is 0.68, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 18, 2026	0.68

Return for Risk

SMLL vs. CVSM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SMLL

SMLL Risk / Return Rank: 15
SMLL Sharpe Ratio Rank: 15
SMLL Sortino Ratio Rank: 15
SMLL Omega Ratio Rank: 15
SMLL Calmar Ratio Rank: 15
SMLL Martin Ratio Rank: 14

CVSM

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SMLL vs. CVSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Active Small Cap ETF (SMLL) and CresAlta Small & Mid-Cap ETF (CVSM). 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.

	SMLL	CVSM	Difference
Sharpe ratio: Return per unit of total volatility	0.19	—	—
Sortino ratio: Return per unit of downside risk	0.41	—	—
Omega ratio: Gain probability vs. loss probability	1.05	—	—
Calmar ratio: Return relative to maximum drawdown	0.22	—	—
Martin ratio: Return relative to average drawdown	0.44	—	—

Drawdowns

SMLL vs. CVSM - Drawdown Comparison

The maximum SMLL drawdown since its inception was -23.56%, which is greater than CVSM's maximum drawdown of -3.36%. Use the drawdown chart below to compare losses from any high point for SMLL and CVSM.

Drawdown Indicators

	SMLL	CVSM	Difference
Max Drawdown Largest peak-to-trough decline	-23.56%	-3.36%	-20.20%
Max Drawdown (1Y) Largest decline over 1 year	-15.53%	—	—
Current Drawdown Current decline from peak	-6.17%	-2.33%	-3.84%
Average Drawdown Average peak-to-trough decline	-8.64%	-0.96%	-7.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.74%	—	—

Volatility

Volatility by Period

	SMLL	CVSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.20%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.09%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.56%	11.65%	+5.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.09%	11.65%	+8.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.09%	11.65%	+8.44%

SMLL vs. CVSM - Expense Ratio Comparison

SMLL has a 0.80% expense ratio, which is higher than CVSM's 0.55% expense ratio.

Dividends

SMLL vs. CVSM - Dividend Comparison

SMLL's dividend yield for the trailing twelve months is around 2.19%, more than CVSM's 0.23% yield.

Position	TTM	2025	2024
CVSM CresAlta Small & Mid-Cap ETF	0.23%	0.00%	0.00%
SMLL Harbor Active Small Cap ETF	2.19%	2.37%	0.52%

Frequently Asked Questions

Can I hold both SMLL and CVSM in my portfolio?

SMLL and CVSM have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SMLL or CVSM?

On fees, CVSM is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SMLL or CVSM?

CVSM is cheaper with a 0.55% expense ratio, compared with 0.80% for SMLL.

Which ETF pays a higher dividend yield, SMLL or CVSM?

SMLL has the higher dividend yield at 2.19%, compared with 0.23% for CVSM.

What is the main difference between SMLL and CVSM?

They also come from different issuers: Harbor and CresAlta. Their fees differ too: 0.80% for SMLL and 0.55% for CVSM.