SMOT vs. IMCB

Last updated Jun 4, 2026

SMOT (VanEck Morningstar SMID Moat ETF) and IMCB (iShares Morningstar Mid-Cap ETF) are both Mid Cap Blend Equities funds - SMOT tracks the Morningstar US Small-Mid Cap Moat Focus while IMCB tracks the IMCB-US - Morningstar U.S. Mid Cap Index. Both are passively managed. Over the past 3 years, SMOT returned 11.98%/yr vs 17.84%/yr for IMCB. Their correlation of 0.95 suggests significant overlap in exposure. SMOT charges 0.49%/yr vs 0.04%/yr for IMCB.

Performance

SMOT vs. IMCB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Morningstar SMID Moat ETF (SMOT) and iShares Morningstar Mid-Cap ETF (IMCB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMOT achieves a 7.04% return, which is significantly lower than IMCB's 14.72% return.

SMOT

• 1D: -0.21%
• 1M: 4.42%
• YTD: 7.04%
• 6M: 7.50%
• 1Y: 16.94%
• 3Y*: 11.98%
• 5Y*: —
• 10Y*: —

IMCB

• 1D: -0.24%
• 1M: 5.22%
• YTD: 14.72%
• 6M: 14.61%
• 1Y: 23.24%
• 3Y*: 17.84%
• 5Y*: 8.81%
• 10Y*: 11.32%

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

SMOT vs. IMCB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SMOT VanEck Morningstar SMID Moat ETF	7.04%	6.46%	10.71%	17.31%	5.41%
IMCB iShares Morningstar Mid-Cap ETF	14.72%	10.25%	15.10%	16.37%	4.07%

Correlation

The correlation between SMOT and IMCB is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (All Time) Calculated using the full available price history since Oct 7, 2022	0.95

The correlation between SMOT and IMCB has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.

SMOT vs. IMCB - Sectors Allocation Comparison

Sectors	SMOT	IMCB
Technology	22.2%	21.3%
Healthcare	18.3%	7.9%
Consumer Cyclical	13.1%	9.0%
Industrials	12.0%	19.0%
Basic Materials	8.1%	5.3%
Consumer Defensive	7.8%	5.1%
Financial Services	6.0%	12.0%
Energy	4.7%	7.4%
Utilities	2.7%	6.2%
Real Estate	2.6%	4.3%
Communication Services	2.4%	2.3%

Return for Risk

SMOT vs. IMCB — Risk / Return Rank

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

SMOT

SMOT Risk / Return Rank: 35
SMOT Sharpe Ratio Rank: 33
SMOT Sortino Ratio Rank: 35
SMOT Omega Ratio Rank: 31
SMOT Calmar Ratio Rank: 39
SMOT Martin Ratio Rank: 38

IMCB

IMCB Risk / Return Rank: 56
IMCB Sharpe Ratio Rank: 53
IMCB Sortino Ratio Rank: 53
IMCB Omega Ratio Rank: 51
IMCB Calmar Ratio Rank: 58
IMCB Martin Ratio Rank: 63

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. IMCB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Morningstar SMID Moat ETF (SMOT) and iShares Morningstar Mid-Cap ETF (IMCB). 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	IMCB	Difference
Sharpe ratio: Return per unit of total volatility	1.21	1.83	-0.63
Sortino ratio: Return per unit of downside risk	1.86	2.61	-0.75
Omega ratio: Gain probability vs. loss probability	1.21	1.32	-0.11
Calmar ratio: Return relative to maximum drawdown	1.91	2.90	-0.99
Martin ratio: Return relative to average drawdown	6.12	11.50	-5.38
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. IMCB - Sharpe Ratio Comparison

The current SMOT Sharpe Ratio is 1.21, which is lower than the IMCB Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of SMOT and IMCB, 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

	SMOT	IMCB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.21	1.83	-0.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.50	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.58	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.50	+0.20

Drawdowns

SMOT vs. IMCB - Drawdown Comparison

The maximum SMOT drawdown since its inception was -23.36%, smaller than the maximum IMCB drawdown of -58.80%. Use the drawdown chart below to compare losses from any high point for SMOT and IMCB.

Drawdown Indicators

	SMOT	IMCB	Difference
Max Drawdown Largest peak-to-trough decline	-23.36%	-58.80%	+35.44%
Max Drawdown (1Y) Largest decline over 1 year	-8.91%	-8.05%	-0.86%
Max Drawdown (3Y) Largest decline over 3 years	-23.36%	-19.80%	-3.56%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.15%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-40.99%	—
Current Drawdown Current decline from peak	-0.21%	-0.24%	+0.03%
Average Drawdown Average peak-to-trough decline	-4.81%	-7.73%	+2.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.78%	2.03%	+0.75%

Volatility

SMOT vs. IMCB - Volatility Comparison

The current volatility for VanEck Morningstar SMID Moat ETF (SMOT) is 3.03%, while iShares Morningstar Mid-Cap ETF (IMCB) has a volatility of 3.31%. This indicates that SMOT experiences smaller price fluctuations and is considered to be less risky than IMCB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMOT	IMCB	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.03%	3.31%	-0.28%
Volatility (6M) Calculated over the trailing 6-month period	9.47%	9.58%	-0.11%
Volatility (1Y) Calculated over the trailing 1-year period	14.14%	12.75%	+1.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.42%	17.57%	+0.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.42%	19.65%	-1.23%

SMOT vs. IMCB - Expense Ratio Comparison

SMOT has a 0.49% expense ratio, which is higher than IMCB's 0.04% expense ratio.

Dividends

SMOT vs. IMCB - Dividend Comparison

SMOT's dividend yield for the trailing twelve months is around 1.28%, more than IMCB's 1.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IMCB iShares Morningstar Mid-Cap ETF	1.21%	1.42%	1.43%	1.55%	1.70%	1.08%	1.12%	1.32%	1.80%	1.31%	1.79%	1.47%
SMOT VanEck Morningstar SMID Moat ETF	1.28%	1.37%	1.18%	0.65%	0.24%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SMOT and IMCB in my portfolio?

With a correlation of 0.91, SMOT and IMCB move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SMOT or IMCB?

IMCB has higher volatility (3.31%) compared to SMOT (3.03%). In terms of maximum drawdown, SMOT dropped -23.36% vs IMCB's -58.80%.

Which ETF is better, SMOT or IMCB?

On 3-year performance, IMCB leads with 17.84% vs 11.98% for SMOT. On fees, IMCB is cheaper at 0.04% per year. On volatility, SMOT has been the lower-risk option at 3.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMOT or IMCB?

Over the 3-year period, IMCB has performed better with a 17.84% return vs 11.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMOT or IMCB?

IMCB is cheaper with a 0.04% expense ratio, compared with 0.49% for SMOT.

Which ETF pays a higher dividend yield, SMOT or IMCB?

SMOT has the higher dividend yield at 1.28%, compared with 1.21% for IMCB.

What is the main difference between SMOT and IMCB?

SMOT tracks Morningstar US Small-Mid Cap Moat Focus, while IMCB tracks IMCB-US - Morningstar U.S. Mid Cap Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.49% for SMOT and 0.04% for IMCB.

Which has better risk-adjusted returns?

IMCB currently has the higher Sharpe Ratio (1.83 vs 1.21), 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.