SMMV vs. BKSE

Last updated Jun 4, 2026

SMMV (iShares MSCI USA Small-Cap Min Vol Factor ETF) and BKSE (BNY Mellon US Small Cap Core Equity ETF) are both Small Cap Growth Equities funds - SMMV tracks the MSCI USA Small Cap Minimum Volatility (USD) Index while BKSE tracks the Morningstar US Small Cap Index. Both are passively managed. Over the past 5 years, SMMV returned 4.87%/yr vs 6.89%/yr for BKSE. Their correlation of 0.88 suggests significant overlap in exposure. SMMV charges 0.20%/yr vs 0.04%/yr for BKSE.

Performance

SMMV vs. BKSE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV) and BNY Mellon US Small Cap Core Equity ETF (BKSE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMMV achieves a 2.04% return, which is significantly lower than BKSE's 13.03% return.

SMMV

• 1D: -0.27%
• 1M: -1.47%
• YTD: 2.04%
• 6M: 2.90%
• 1Y: 6.20%
• 3Y*: 10.82%
• 5Y*: 4.87%
• 10Y*: —

BKSE

• 1D: -1.11%
• 1M: 2.60%
• YTD: 13.03%
• 6M: 12.11%
• 1Y: 32.65%
• 3Y*: 17.40%
• 5Y*: 6.89%
• 10Y*: —

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

SMMV vs. BKSE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SMMV iShares MSCI USA Small-Cap Min Vol Factor ETF	2.04%	6.42%	18.29%	5.63%	-10.00%	16.64%	22.79%
BKSE BNY Mellon US Small Cap Core Equity ETF	13.03%	13.09%	9.56%	22.37%	-18.44%	16.18%	55.56%

Correlation

The correlation between SMMV and BKSE is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (All Time) Calculated using the full available price history since Apr 13, 2020	0.88

The correlation between SMMV and BKSE has been stable across timeframes, ranging from 0.79 to 0.88 - a consistent structural relationship.

SMMV vs. BKSE - Sectors Allocation Comparison

Sectors	SMMV	BKSE
Healthcare	17.1%	11.4%
Industrials	13.8%	15.4%
Real Estate	13.4%	6.6%
Technology	10.9%	16.8%
Financial Services	10.9%	16.4%
Consumer Defensive	8.1%	3.2%
Utilities	7.7%	3.4%
Consumer Cyclical	5.6%	13.3%
Communication Services	5.4%	2.2%
Energy	4.5%	7.0%
Basic Materials	2.0%	4.5%

Return for Risk

SMMV vs. BKSE — Risk / Return Rank

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

SMMV

SMMV Risk / Return Rank: 20
SMMV Sharpe Ratio Rank: 19
SMMV Sortino Ratio Rank: 19
SMMV Omega Ratio Rank: 18
SMMV Calmar Ratio Rank: 20
SMMV Martin Ratio Rank: 22

BKSE

BKSE Risk / Return Rank: 60
BKSE Sharpe Ratio Rank: 54
BKSE Sortino Ratio Rank: 57
BKSE Omega Ratio Rank: 50
BKSE Calmar Ratio Rank: 70
BKSE Martin Ratio Rank: 66

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.

SMMV vs. BKSE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV) and BNY Mellon US Small Cap Core Equity ETF (BKSE). 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.

	SMMV	BKSE	Difference
Sharpe ratio: Return per unit of total volatility	0.64	1.87	-1.23
Sortino ratio: Return per unit of downside risk	0.99	2.71	-1.72
Omega ratio: Gain probability vs. loss probability	1.11	1.32	-0.20
Calmar ratio: Return relative to maximum drawdown	0.89	3.49	-2.60
Martin ratio: Return relative to average drawdown	2.82	12.15	-9.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMMV vs. BKSE - Sharpe Ratio Comparison

The current SMMV Sharpe Ratio is 0.64, which is lower than the BKSE Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of SMMV and BKSE, 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

	SMMV	BKSE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.64	1.87	-1.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.32	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.73	-0.21

Drawdowns

SMMV vs. BKSE - Drawdown Comparison

The maximum SMMV drawdown since its inception was -38.77%, which is greater than BKSE's maximum drawdown of -29.08%. Use the drawdown chart below to compare losses from any high point for SMMV and BKSE.

Drawdown Indicators

	SMMV	BKSE	Difference
Max Drawdown Largest peak-to-trough decline	-38.77%	-29.08%	-9.69%
Max Drawdown (1Y) Largest decline over 1 year	-7.02%	-9.40%	+2.38%
Max Drawdown (3Y) Largest decline over 3 years	-13.68%	-26.76%	+13.08%
Max Drawdown (5Y) Largest decline over 5 years	-18.00%	-29.08%	+11.08%
Current Drawdown Current decline from peak	-4.44%	-1.11%	-3.33%
Average Drawdown Average peak-to-trough decline	-5.10%	-9.06%	+3.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.20%	2.69%	-0.49%

Volatility

SMMV vs. BKSE - Volatility Comparison

The current volatility for iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV) is 2.27%, while BNY Mellon US Small Cap Core Equity ETF (BKSE) has a volatility of 4.47%. This indicates that SMMV experiences smaller price fluctuations and is considered to be less risky than BKSE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMMV	BKSE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.27%	4.47%	-2.20%
Volatility (6M) Calculated over the trailing 6-month period	6.30%	11.96%	-5.66%
Volatility (1Y) Calculated over the trailing 1-year period	9.73%	17.63%	-7.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.50%	21.43%	-7.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.69%	22.30%	-6.61%

SMMV vs. BKSE - Expense Ratio Comparison

SMMV has a 0.20% expense ratio, which is higher than BKSE's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SMMV vs. BKSE - Dividend Comparison

SMMV's dividend yield for the trailing twelve months is around 1.75%, more than BKSE's 1.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BKSE BNY Mellon US Small Cap Core Equity ETF	1.16%	1.26%	1.55%	1.38%	1.50%	1.17%	0.82%	0.00%	0.00%	0.00%	0.00%
SMMV iShares MSCI USA Small-Cap Min Vol Factor ETF	1.75%	1.77%	1.76%	2.30%	1.67%	1.08%	1.39%	1.64%	1.72%	1.63%	0.79%

Frequently Asked Questions

Can I hold both SMMV and BKSE in my portfolio?

SMMV and BKSE have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMMV or BKSE?

BKSE has higher volatility (4.47%) compared to SMMV (2.27%). In terms of maximum drawdown, SMMV dropped -38.77% vs BKSE's -29.08%.

Which ETF is better, SMMV or BKSE?

On 5-year performance, BKSE leads with 6.89% vs 4.87% for SMMV. On fees, BKSE is cheaper at 0.04% per year. On volatility, SMMV has been the lower-risk option at 2.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMMV or BKSE?

Over the 5-year period, BKSE has performed better with a 6.89% return vs 4.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMMV or BKSE?

BKSE is cheaper with a 0.04% expense ratio, compared with 0.20% for SMMV.

Which ETF pays a higher dividend yield, SMMV or BKSE?

SMMV has the higher dividend yield at 1.75%, compared with 1.16% for BKSE.

What is the main difference between SMMV and BKSE?

SMMV tracks MSCI USA Small Cap Minimum Volatility (USD) Index, while BKSE tracks Morningstar US Small Cap Index. They also come from different issuers: iShares and BNY Mellon. Their fees differ too: 0.20% for SMMV and 0.04% for BKSE.

Which has better risk-adjusted returns?

BKSE currently has the higher Sharpe Ratio (1.87 vs 0.64), 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.