SMLL vs. SMCP

Last updated Jun 4, 2026

SMLL (Harbor Active Small Cap ETF) and SMCP (AlphaMark Actively Managed Small Cap ETF) are both Small Cap Blend Equities funds. SMLL is actively managed, while SMCP is passively managed. At a 0.21 correlation, their price movements are largely independent. SMLL charges 0.80%/yr vs 0.90%/yr for SMCP.

Performance

SMLL vs. SMCP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Active Small Cap ETF (SMLL) and AlphaMark Actively Managed Small Cap ETF (SMCP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SMLL

• 1D: -1.27%
• 1M: 0.05%
• YTD: 1.85%
• 6M: 1.53%
• 1Y: -1.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SMCP

• 1D: -0.30%
• 1M: -25.99%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMLL vs. SMCP - Yearly Performance Comparison

	2026 (YTD)
SMLL Harbor Active Small Cap ETF	-1.36%
SMCP AlphaMark Actively Managed Small Cap ETF	-25.99%

Correlation

The correlation between SMLL and SMCP is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 9, 2026	0.21

SMLL vs. SMCP - Sectors Allocation Comparison

Sectors	SMLL	SMCP
Industrials	27.6%	13.1%
Financial Services	19.8%	98.8%
Technology	18.0%	11.1%
Consumer Cyclical	10.5%	7.3%
Energy	6.9%	7.6%
Basic Materials	5.7%	7.9%
Healthcare	5.7%	11.0%
Real Estate	4.0%	3.1%
Consumer Defensive	1.2%	8.1%
Utilities	0.5%	3.0%
Communication Services	-	4.0%

Return for Risk

SMLL vs. SMCP — Risk / Return Rank

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

SMLL

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

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.

SMLL vs. SMCP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Active Small Cap ETF (SMLL) and AlphaMark Actively Managed Small Cap ETF (SMCP). 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.

	SMLL	SMCP	Difference
Sharpe ratio: Return per unit of total volatility	-0.09	—	—
Sortino ratio: Return per unit of downside risk	-0.01	—	—
Omega ratio: Gain probability vs. loss probability	1.00	—	—
Calmar ratio: Return relative to maximum drawdown	-0.11	—	—
Martin ratio: Return relative to average drawdown	-0.22	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SMLL	SMCP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.09	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	-1.43	+1.59

Drawdowns

SMLL vs. SMCP - Drawdown Comparison

The maximum SMLL drawdown since its inception was -23.56%, smaller than the maximum SMCP drawdown of -27.86%. Use the drawdown chart below to compare losses from any high point for SMLL and SMCP.

Drawdown Indicators

	SMLL	SMCP	Difference
Max Drawdown Largest peak-to-trough decline	-23.56%	-27.86%	+4.30%
Max Drawdown (1Y) Largest decline over 1 year	-15.53%	—	—
Current Drawdown Current decline from peak	-11.47%	-25.99%	+14.52%
Average Drawdown Average peak-to-trough decline	-8.71%	-5.33%	-3.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.60%	—	—

Volatility

Volatility by Period

	SMLL	SMCP	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.26%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.80%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.46%	43.62%	-26.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.39%	43.62%	-23.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.39%	43.62%	-23.23%

SMLL vs. SMCP - Expense Ratio Comparison

SMLL has a 0.80% expense ratio, which is lower than SMCP's 0.90% expense ratio.

Dividends

SMLL vs. SMCP - Dividend Comparison

SMLL's dividend yield for the trailing twelve months is around 2.33%, while SMCP has not paid dividends to shareholders.

Position	TTM	2025	2024
SMCP AlphaMark Actively Managed Small Cap ETF	0.00%	0.00%	0.00%
SMLL Harbor Active Small Cap ETF	2.33%	2.37%	0.52%

Frequently Asked Questions

Can I hold both SMLL and SMCP in my portfolio?

SMLL and SMCP have a correlation of 0.21, 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 SMCP?

On fees, SMLL is cheaper at 0.80% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SMLL or SMCP?

SMLL is cheaper with a 0.80% expense ratio, compared with 0.90% for SMCP.

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

SMLL has the higher dividend yield at 2.33%, compared with 0.00% for SMCP.

What is the main difference between SMLL and SMCP?

They also come from different issuers: Harbor and AlphaMark Advisors. Their fees differ too: 0.80% for SMLL and 0.90% for SMCP.