SMRF vs. AFOS

Last updated Jul 10, 2026

SMRF (ALPS Nautilus SMR, Nuclear & Technology ETF) and AFOS (ARS Focused Opportunities Strategy ETF) are both exchange-traded funds - SMRF is a Actively Managed fund actively managed by ALPS, while AFOS is a Large Cap Blend Equities fund managed by ARS Investment Partners. Their correlation of 0.85 suggests significant overlap in exposure. SMRF charges 0.65%/yr vs 0.45%/yr for AFOS.

Performance

SMRF vs. AFOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALPS Nautilus SMR, Nuclear & Technology ETF (SMRF) and ARS Focused Opportunities Strategy ETF (AFOS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SMRF

• 1D: 1.90%
• 1M: -0.53%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AFOS

• 1D: 1.12%
• 1M: 4.27%
• 6M: 26.78%
• YTD: 31.59%
• 1Y: 74.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMRF vs. AFOS - Yearly Performance Comparison

	2026 (YTD)
SMRF ALPS Nautilus SMR, Nuclear & Technology ETF	0.00%
AFOS ARS Focused Opportunities Strategy ETF	16.50%

Correlation

The correlation between SMRF and AFOS is 0.85, 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 Feb 19, 2026	0.85

Return for Risk

SMRF vs. AFOS — Risk / Return Rank

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

SMRF

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

AFOS

AFOS Risk / Return Rank: 95
AFOS Sharpe Ratio Rank: 96
AFOS Sortino Ratio Rank: 94
AFOS Omega Ratio Rank: 94
AFOS Calmar Ratio Rank: 95
AFOS Martin Ratio Rank: 96

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.

SMRF vs. AFOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS Nautilus SMR, Nuclear & Technology ETF (SMRF) and ARS Focused Opportunities Strategy ETF (AFOS). 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.

	SMRF	AFOS	Difference
Sharpe ratio: Return per unit of total volatility	—	3.39	—
Sortino ratio: Return per unit of downside risk	—	4.08	—
Omega ratio: Gain probability vs. loss probability	—	1.55	—
Calmar ratio: Return relative to maximum drawdown	—	6.48	—
Martin ratio: Return relative to average drawdown	—	28.69	—

Drawdowns

SMRF vs. AFOS - Drawdown Comparison

The maximum SMRF drawdown since its inception was -17.20%, which is greater than AFOS's maximum drawdown of -11.52%. Use the drawdown chart below to compare losses from any high point for SMRF and AFOS.

Drawdown Indicators

	SMRF	AFOS	Difference
Max Drawdown Largest peak-to-trough decline	-17.20%	-11.52%	-5.68%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.52%	—
Current Drawdown Current decline from peak	-14.19%	-3.80%	-10.39%
Average Drawdown Average peak-to-trough decline	-6.73%	-1.51%	-5.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.60%	—

Volatility

Volatility by Period

	SMRF	AFOS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.29%	—
Volatility (6M) Calculated over the trailing 6-month period	—	18.42%	—
Volatility (1Y) Calculated over the trailing 1-year period	44.61%	22.00%	+22.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.61%	21.74%	+22.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.61%	21.74%	+22.87%

SMRF vs. AFOS - Expense Ratio Comparison

SMRF has a 0.65% expense ratio, which is higher than AFOS's 0.45% expense ratio.

Dividends

SMRF vs. AFOS - Dividend Comparison

SMRF's dividend yield for the trailing twelve months is around 0.30%, more than AFOS's 0.23% yield.

Position	TTM	2025
AFOS ARS Focused Opportunities Strategy ETF	0.23%	0.30%
SMRF ALPS Nautilus SMR, Nuclear & Technology ETF	0.30%	0.00%

Frequently Asked Questions

Can I hold both SMRF and AFOS in my portfolio?

SMRF and AFOS have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SMRF or AFOS?

On fees, AFOS is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SMRF or AFOS?

AFOS is cheaper with a 0.45% expense ratio, compared with 0.65% for SMRF.

Which ETF pays a higher dividend yield, SMRF or AFOS?

SMRF has the higher dividend yield at 0.30%, compared with 0.23% for AFOS.

What is the main difference between SMRF and AFOS?

SMRF is categorized as Actively Managed, while AFOS is Large Cap Blend Equities. They also come from different issuers: ALPS and ARS Investment Partners. Their fees differ too: 0.65% for SMRF and 0.45% for AFOS.