SMOT vs. CPAI

Last updated Apr 2, 2026

Compare and contrast key facts about VanEck Morningstar SMID Moat ETF (SMOT) and Counterpoint Quantitative Equity ETF (CPAI).

SMOT and CPAI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SMOT is a passively managed fund by VanEck that tracks the performance of the Morningstar US Small-Mid Cap Moat Focus. It was launched on Oct 4, 2022. CPAI is an actively managed fund by Counterpoint Funds. It was launched on Nov 28, 2023.

Performance

SMOT vs. CPAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Morningstar SMID Moat ETF (SMOT) and Counterpoint Quantitative Equity ETF (CPAI). The values are adjusted to include any dividend payments, if applicable.

SMOT vs. CPAI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SMOT VanEck Morningstar SMID Moat ETF	-2.82%	6.46%	10.71%	10.44%
CPAI Counterpoint Quantitative Equity ETF	4.96%	17.79%	28.37%	6.69%

Returns By Period

In the year-to-date period, SMOT achieves a -2.82% return, which is significantly lower than CPAI's 4.96% return.

SMOT

• 1D: -0.03%
• 1M: -5.15%
• YTD: -2.82%
• 6M: -0.99%
• 1Y: 8.49%
• 3Y*: 8.49%
• 5Y*: —
• 10Y*: —

CPAI

• 1D: 0.72%
• 1M: -6.74%
• YTD: 4.96%
• 6M: 6.83%
• 1Y: 26.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMOT vs. CPAI - Expense Ratio Comparison

SMOT has a 0.49% expense ratio, which is lower than CPAI's 0.75% expense ratio.

CPAI

Counterpoint Quantitative Equity ETF

SMOT

VanEck Morningstar SMID Moat ETF

Return for Risk

SMOT vs. CPAI — Risk / Return Rank

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

SMOT

SMOT Risk / Return Rank: 25
SMOT Sharpe Ratio Rank: 23
SMOT Sortino Ratio Rank: 24
SMOT Omega Ratio Rank: 24
SMOT Calmar Ratio Rank: 24
SMOT Martin Ratio Rank: 28

CPAI

CPAI Risk / Return Rank: 65
CPAI Sharpe Ratio Rank: 65
CPAI Sortino Ratio Rank: 63
CPAI Omega Ratio Rank: 62
CPAI Calmar Ratio Rank: 69
CPAI Martin Ratio Rank: 68

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.

SMOT vs. CPAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Morningstar SMID Moat ETF (SMOT) and Counterpoint Quantitative Equity ETF (CPAI). 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.

	SMOT	CPAI	Difference
Sharpe ratio Return per unit of total volatility	0.41	1.20	-0.79
Sortino ratio Return per unit of downside risk	0.74	1.68	-0.94
Omega ratio Gain probability vs. loss probability	1.10	1.24	-0.14
Calmar ratio Return relative to maximum drawdown	0.60	1.96	-1.36
Martin ratio Return relative to average drawdown	2.40	7.56	-5.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMOT vs. CPAI - Sharpe Ratio Comparison

The current SMOT Sharpe Ratio is 0.41, which is lower than the CPAI Sharpe Ratio of 1.20. The chart below compares the historical Sharpe Ratios of SMOT and CPAI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SMOT	CPAI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.41	1.20	-0.79
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	1.35	-0.78

Correlation

The correlation between SMOT and CPAI is 0.72, 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

SMOT vs. CPAI - Dividend Comparison

SMOT's dividend yield for the trailing twelve months is around 1.41%, more than CPAI's 0.85% yield.

	TTM	2025	2024	2023	2022
SMOT VanEck Morningstar SMID Moat ETF	1.41%	1.37%	1.18%	0.65%	0.24%
CPAI Counterpoint Quantitative Equity ETF	0.85%	0.89%	0.41%	0.06%	0.00%

Drawdowns

SMOT vs. CPAI - Drawdown Comparison

The maximum SMOT drawdown since its inception was -23.36%, which is greater than CPAI's maximum drawdown of -21.46%. Use the drawdown chart below to compare losses from any high point for SMOT and CPAI.

Drawdown Indicators

	SMOT	CPAI	Difference
Max Drawdown Largest peak-to-trough decline	-23.36%	-21.46%	-1.90%
Max Drawdown (1Y) Largest decline over 1 year	-14.56%	-13.63%	-0.93%
Current Drawdown Current decline from peak	-6.76%	-6.74%	-0.02%
Average Drawdown Average peak-to-trough decline	-4.96%	-3.10%	-1.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.64%	3.54%	+0.10%

Volatility

SMOT vs. CPAI - Volatility Comparison

The current volatility for VanEck Morningstar SMID Moat ETF (SMOT) is 4.64%, while Counterpoint Quantitative Equity ETF (CPAI) has a volatility of 7.46%. This indicates that SMOT experiences smaller price fluctuations and is considered to be less risky than CPAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMOT	CPAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.64%	7.46%	-2.82%
Volatility (6M) Calculated over the trailing 6-month period	10.31%	14.95%	-4.64%
Volatility (1Y) Calculated over the trailing 1-year period	20.86%	22.20%	-1.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.69%	19.20%	-0.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.69%	19.20%	-0.51%