SMOX vs. SCHM

Last updated Jun 25, 2026

SMOX (Horizon Small/Mid Cap Core Equity ETF) and SCHM (Schwab US Mid-Cap ETF) are both Mid Cap Blend Equities funds. SMOX is actively managed, while SCHM is passively managed. Their correlation of 0.91 suggests significant overlap in exposure. SMOX charges 0.75%/yr vs 0.04%/yr for SCHM.

Performance

SMOX vs. SCHM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Small/Mid Cap Core Equity ETF (SMOX) and Schwab US Mid-Cap ETF (SCHM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with SMOX having a 19.91% return and SCHM slightly lower at 19.35%.

SMOX

• 1D: 0.19%
• 1M: 3.62%
• YTD: 19.91%
• 6M: 17.45%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SCHM

• 1D: 0.20%
• 1M: 3.08%
• YTD: 19.35%
• 6M: 16.97%
• 1Y: 30.22%
• 3Y*: 17.93%
• 5Y*: 7.93%
• 10Y*: 11.74%

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

SMOX vs. SCHM - Yearly Performance Comparison

	2026 (YTD)	2025
SMOX Horizon Small/Mid Cap Core Equity ETF	19.91%	0.44%
SCHM Schwab US Mid-Cap ETF	19.35%	1.29%

Correlation

The correlation between SMOX and SCHM 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 (All Time) Calculated using the full available price history since Dec 3, 2025	0.91

SMOX vs. SCHM - Sectors Allocation Comparison

Sectors	SMOX	SCHM
Industrials	20.9%	21.7%
Technology	14.0%	22.1%
Financial Services	12.7%	10.9%
Healthcare	8.4%	10.9%
Consumer Cyclical	8.2%	10.8%
Energy	6.7%	3.4%
Real Estate	6.3%	6.4%
Consumer Defensive	5.5%	3.4%
Basic Materials	2.4%	4.7%
Communication Services	1.4%	2.6%
Utilities	1.4%	2.9%

Return for Risk

SMOX vs. SCHM — Risk / Return Rank

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

SMOX

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

SCHM

SCHM Risk / Return Rank: 67
SCHM Sharpe Ratio Rank: 63
SCHM Sortino Ratio Rank: 64
SCHM Omega Ratio Rank: 59
SCHM Calmar Ratio Rank: 71
SCHM Martin Ratio Rank: 76

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.

SMOX vs. SCHM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Small/Mid Cap Core Equity ETF (SMOX) and Schwab US Mid-Cap ETF (SCHM). 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.

	SMOX	SCHM	Difference
Sharpe ratio: Return per unit of total volatility	—	1.87	—
Sortino ratio: Return per unit of downside risk	—	2.64	—
Omega ratio: Gain probability vs. loss probability	—	1.33	—
Calmar ratio: Return relative to maximum drawdown	—	3.26	—
Martin ratio: Return relative to average drawdown	—	13.00	—

Drawdowns

SMOX vs. SCHM - Drawdown Comparison

The maximum SMOX drawdown since its inception was -7.76%, smaller than the maximum SCHM drawdown of -42.43%. Use the drawdown chart below to compare losses from any high point for SMOX and SCHM.

Drawdown Indicators

	SMOX	SCHM	Difference
Max Drawdown Largest peak-to-trough decline	-7.76%	-42.43%	+34.67%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.32%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-23.27%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.46%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-42.43%	—
Current Drawdown Current decline from peak	-0.32%	-1.54%	+1.22%
Average Drawdown Average peak-to-trough decline	-1.38%	-5.64%	+4.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.33%	—

Volatility

Volatility by Period

	SMOX	SCHM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.74%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.58%	—
Volatility (1Y) Calculated over the trailing 1-year period	15.45%	16.29%	-0.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.45%	19.66%	-4.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.45%	20.48%	-5.03%

SMOX vs. SCHM - Expense Ratio Comparison

SMOX has a 0.75% expense ratio, which is higher than SCHM's 0.04% expense ratio.

Dividends

SMOX vs. SCHM - Dividend Comparison

SMOX's dividend yield for the trailing twelve months is around 0.07%, less than SCHM's 1.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCHM Schwab US Mid-Cap ETF	1.22%	1.46%	1.43%	1.50%	1.67%	1.13%	1.31%	1.48%	1.56%	1.27%	1.51%	1.54%
SMOX Horizon Small/Mid Cap Core Equity ETF	0.07%	0.08%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SMOX and SCHM in my portfolio?

With a correlation of 0.91, SMOX and SCHM 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 ETF is better, SMOX or SCHM?

On fees, SCHM is cheaper at 0.04% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SMOX or SCHM?

SCHM is cheaper with a 0.04% expense ratio, compared with 0.75% for SMOX.

Which ETF pays a higher dividend yield, SMOX or SCHM?

SCHM has the higher dividend yield at 1.22%, compared with 0.07% for SMOX.

What is the main difference between SMOX and SCHM?

They also come from different issuers: Horizon and Charles Schwab. Their fees differ too: 0.75% for SMOX and 0.04% for SCHM.