SMRI vs. IVEP

Last updated Aug 6, 2026

SMRI (Bushido Capital US Equity ETF) and IVEP (Dan IVES Wedbush AI Power & Infrastructure ETF) are both exchange-traded funds - SMRI is a Large Cap Value Equities fund actively managed by Bushido, while IVEP is a Industrials Equities fund tracking the Solactive Wedbush AI Power & Infrastructure Index. SMRI is actively managed, while IVEP is passively managed. Their -0.04 correlation means they have often moved in opposite directions in the past. SMRI charges 0.71%/yr vs 0.75%/yr for IVEP.

Performance

SMRI vs. IVEP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bushido Capital US Equity ETF (SMRI) and Dan IVES Wedbush AI Power & Infrastructure ETF (IVEP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SMRI

• 1D: -0.15%
• 1M: 6.81%
• 6M: 25.83%
• YTD: 24.60%
• 1Y: 41.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 23.37%

IVEP

• 1D: -0.29%
• 1M: -1.84%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IVEP Dan IVES Wedbush AI Power & Infrastructure ETF	$588.24K	$553.57K	$816.67K
SMRI Bushido Capital US Equity ETF	$807.99K	$493.06K	$378.49K

SMRI vs. IVEP - Yearly Performance Comparison

	2026 (YTD)
SMRI Bushido Capital US Equity ETF	25.67%
IVEP Dan IVES Wedbush AI Power & Infrastructure ETF	1.91%

Correlation

The correlation between SMRI and IVEP is -0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 8, 2026	-0.04

Return for Risk

SMRI vs. IVEP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SMRI

SMRI Risk / Return Rank: 94
SMRI Sharpe Ratio Rank: 94
SMRI Sortino Ratio Rank: 94
SMRI Omega Ratio Rank: 93
SMRI Calmar Ratio Rank: 95
SMRI Martin Ratio Rank: 93

IVEP

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SMRI vs. IVEP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bushido Capital US Equity ETF (SMRI) and Dan IVES Wedbush AI Power & Infrastructure ETF (IVEP). 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.

	SMRI	IVEP	Difference
Sharpe ratio: Return per unit of total volatility	2.80	—	—
Sortino ratio: Return per unit of downside risk	3.88	—	—
Omega ratio: Gain probability vs. loss probability	1.49	—	—
Calmar ratio: Return relative to maximum drawdown	6.09	—	—
Martin ratio: Return relative to average drawdown	17.88	—	—

Drawdowns

SMRI vs. IVEP - Drawdown Comparison

The maximum SMRI drawdown since its inception was -18.45%, which is greater than IVEP's maximum drawdown of -17.54%. Use the drawdown chart below to compare losses from any high point for SMRI and IVEP.

Drawdown Indicators

	SMRI	IVEP	Difference
Max Drawdown Largest peak-to-trough decline	-18.45%	-17.54%	-0.91%
Max Drawdown (1Y) Largest decline over 1 year	-6.80%	—	—
Current Drawdown Current decline from peak	-0.15%	-8.72%	+8.57%
Average Drawdown Average peak-to-trough decline	-2.71%	-5.16%	+2.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.31%	—	—

Volatility

Volatility by Period

	SMRI	IVEP	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.41%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.49%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.80%	31.21%	-16.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.82%	31.21%	-15.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.82%	31.21%	-15.39%

SMRI vs. IVEP - Expense Ratio Comparison

SMRI has a 0.71% expense ratio, which is lower than IVEP's 0.75% expense ratio.

Dividends

SMRI vs. IVEP - Dividend Comparison

SMRI's dividend yield for the trailing twelve months is around 0.84%, while IVEP has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
IVEP Dan IVES Wedbush AI Power & Infrastructure ETF	0.00%	0.00%	0.00%	0.00%
SMRI Bushido Capital US Equity ETF	0.84%	1.32%	0.98%	0.45%

Frequently Asked Questions

Can I hold both SMRI and IVEP in my portfolio?

SMRI and IVEP have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SMRI or IVEP?

On fees, SMRI is cheaper at 0.71% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SMRI or IVEP?

SMRI is cheaper with a 0.71% expense ratio, compared with 0.75% for IVEP.

Which ETF pays a higher dividend yield, SMRI or IVEP?

SMRI has the higher dividend yield at 0.84%, compared with 0.00% for IVEP.

What is the main difference between SMRI and IVEP?

SMRI is categorized as Large Cap Value Equities, while IVEP is Industrials Equities. They also come from different issuers: Bushido and Wedbush. Their fees differ too: 0.71% for SMRI and 0.75% for IVEP.