SMVLX vs. SIXH

Last updated Jun 23, 2026

SMVLX (Smead Value Fund) and SIXH (6 Meridian Hedged Equity-Index Option Strategy ETF) are both funds - SMVLX is a Large Cap Value Equities fund managed by Smead Funds, while SIXH is a Volatility Hedged Equity fund actively managed by Exchange Traded Concepts. Over the past 5 years, SMVLX returned 10.10%/yr vs 9.64%/yr for SIXH. A 0.57 correlation means they provide meaningful diversification when combined. SMVLX charges 1.26%/yr vs 0.87%/yr for SIXH.

Performance

SMVLX vs. SIXH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Smead Value Fund (SMVLX) and 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMVLX achieves a 13.71% return, which is significantly higher than SIXH's 9.61% return.

SMVLX

• 1D: 0.25%
• 1M: -0.57%
• YTD: 13.71%
• 6M: 12.91%
• 1Y: 26.11%
• 3Y*: 12.77%
• 5Y*: 10.10%
• 10Y*: 12.33%

SIXH

• 1D: 0.55%
• 1M: 0.87%
• YTD: 9.61%
• 6M: 9.61%
• 1Y: 13.50%
• 3Y*: 13.19%
• 5Y*: 9.64%
• 10Y*: —

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

SMVLX vs. SIXH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SMVLX Smead Value Fund	13.71%	5.05%	4.78%	16.87%	-2.79%	42.46%	29.59%
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF	9.61%	9.47%	12.06%	4.93%	6.90%	18.37%	6.49%

Correlation

The correlation between SMVLX and SIXH is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (All Time) Calculated using the full available price history since May 11, 2020	0.57

The correlation between SMVLX and SIXH shifts across timeframes, from 0.47 (1 year) to 0.58 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

SMVLX vs. SIXH — Risk / Return Rank

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

SMVLX

SMVLX Risk / Return Rank: 62
SMVLX Sharpe Ratio Rank: 48
SMVLX Sortino Ratio Rank: 51
SMVLX Omega Ratio Rank: 44
SMVLX Calmar Ratio Rank: 91
SMVLX Martin Ratio Rank: 74

SIXH

SIXH Risk / Return Rank: 56
SIXH Sharpe Ratio Rank: 53
SIXH Sortino Ratio Rank: 60
SIXH Omega Ratio Rank: 51
SIXH Calmar Ratio Rank: 65
SIXH Martin Ratio Rank: 49

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.

SMVLX vs. SIXH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Smead Value Fund (SMVLX) and 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH). 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.

	SMVLX	SIXH	Difference
Sharpe ratio: Return per unit of total volatility	1.88	1.77	+0.11
Sortino ratio: Return per unit of downside risk	2.75	2.75	0.00
Omega ratio: Gain probability vs. loss probability	1.33	1.31	+0.02
Calmar ratio: Return relative to maximum drawdown	4.54	3.11	+1.43
Martin ratio: Return relative to average drawdown	13.10	7.88	+5.22

SMVLX vs. SIXH - Sharpe Ratio Comparison

The current SMVLX Sharpe Ratio is 1.88, which is comparable to the SIXH Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of SMVLX and SIXH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SMVLX vs. SIXH - Drawdown Comparison

The maximum SMVLX drawdown since its inception was -39.56%, which is greater than SIXH's maximum drawdown of -11.68%. Use the drawdown chart below to compare losses from any high point for SMVLX and SIXH.

Drawdown Indicators

	SMVLX	SIXH	Difference
Max Drawdown Largest peak-to-trough decline	-39.56%	-11.68%	-27.88%
Max Drawdown (1Y) Largest decline over 1 year	-5.90%	-4.36%	-1.54%
Max Drawdown (3Y) Largest decline over 3 years	-24.62%	-9.10%	-15.52%
Max Drawdown (5Y) Largest decline over 5 years	-24.62%	-11.68%	-12.94%
Max Drawdown (10Y) Largest decline over 10 years	-39.56%	—	—
Current Drawdown Current decline from peak	-3.23%	-0.47%	-2.76%
Average Drawdown Average peak-to-trough decline	-4.58%	-1.84%	-2.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	1.72%	+0.32%

Volatility

SMVLX vs. SIXH - Volatility Comparison

Smead Value Fund (SMVLX) has a higher volatility of 3.53% compared to 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) at 2.33%. This indicates that SMVLX's price experiences larger fluctuations and is considered to be riskier than SIXH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMVLX	SIXH	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.53%	2.33%	+1.20%
Volatility (6M) Calculated over the trailing 6-month period	8.76%	6.07%	+2.69%
Volatility (1Y) Calculated over the trailing 1-year period	14.25%	7.68%	+6.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.39%	10.37%	+8.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.48%	10.13%	+9.35%

SMVLX vs. SIXH - Expense Ratio Comparison

SMVLX has a 1.26% expense ratio, which is higher than SIXH's 0.87% expense ratio.

Dividends

SMVLX vs. SIXH - Dividend Comparison

SMVLX's dividend yield for the trailing twelve months is around 1.47%, less than SIXH's 1.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF	1.85%	2.23%	1.55%	2.04%	2.06%	1.65%	1.10%	0.00%	0.00%	0.00%	0.00%	0.00%
SMVLX Smead Value Fund	1.47%	1.67%	1.08%	1.34%	1.78%	3.91%	1.40%	3.83%	7.47%	0.22%	3.14%	3.10%

Frequently Asked Questions

Can I hold both SMVLX and SIXH in my portfolio?

SMVLX and SIXH have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMVLX or SIXH?

SMVLX has higher volatility (3.53%) compared to SIXH (2.33%). In terms of maximum drawdown, SMVLX dropped -39.56% vs SIXH's -11.68%.

Which has better risk-adjusted returns?

SMVLX currently has the higher Sharpe Ratio (1.88 vs 1.77), 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.