SPSM vs. HSMV
Compare and contrast key facts about SPDR Portfolio S&P 600 Small Cap ETF (SPSM) and First Trust Horizon Managed Volatility Small/Mid ETF (HSMV).
SPSM and HSMV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPSM is a passively managed fund by State Street that tracks the performance of the S&P SmallCap 600 Index. It was launched on Jul 8, 2013. HSMV is an actively managed fund by First Trust. It was launched on Apr 6, 2020.
Performance
SPSM vs. HSMV - Performance Comparison
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SPSM vs. HSMV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SPSM SPDR Portfolio S&P 600 Small Cap ETF | 3.48% | 6.11% | 8.55% | 16.11% | -16.12% | 26.67% | 67.93% |
HSMV First Trust Horizon Managed Volatility Small/Mid ETF | 1.79% | 1.57% | 13.17% | 5.01% | -9.44% | 23.72% | 34.70% |
Returns By Period
In the year-to-date period, SPSM achieves a 3.48% return, which is significantly higher than HSMV's 1.79% return.
SPSM
- 1D
- 2.81%
- 1M
- -4.07%
- YTD
- 3.48%
- 6M
- 5.20%
- 1Y
- 20.56%
- 3Y*
- 10.51%
- 5Y*
- 4.16%
- 10Y*
- 10.05%
HSMV
- 1D
- 0.83%
- 1M
- -5.20%
- YTD
- 1.79%
- 6M
- 0.63%
- 1Y
- 2.50%
- 3Y*
- 7.20%
- 5Y*
- 4.19%
- 10Y*
- —
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SPSM vs. HSMV - Expense Ratio Comparison
SPSM has a 0.05% expense ratio, which is lower than HSMV's 0.80% expense ratio.
Return for Risk
SPSM vs. HSMV — Risk / Return Rank
SPSM
HSMV
SPSM vs. HSMV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio S&P 600 Small Cap ETF (SPSM) and First Trust Horizon Managed Volatility Small/Mid ETF (HSMV). 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.
| SPSM | HSMV | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.92 | 0.18 | +0.73 |
Sortino ratioReturn per unit of downside risk | 1.41 | 0.36 | +1.05 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.05 | +0.14 |
Calmar ratioReturn relative to maximum drawdown | 1.42 | 0.30 | +1.11 |
Martin ratioReturn relative to average drawdown | 5.73 | 1.11 | +4.62 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPSM | HSMV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.92 | 0.18 | +0.73 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.19 | 0.28 | -0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.67 | -0.26 |
Correlation
The correlation between SPSM and HSMV is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
SPSM vs. HSMV - Dividend Comparison
SPSM's dividend yield for the trailing twelve months is around 1.59%, less than HSMV's 2.03% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPSM SPDR Portfolio S&P 600 Small Cap ETF | 1.59% | 1.62% | 1.85% | 1.61% | 1.38% | 1.40% | 1.34% | 1.58% | 1.82% | 1.51% | 1.49% | 2.37% |
HSMV First Trust Horizon Managed Volatility Small/Mid ETF | 2.03% | 2.01% | 1.43% | 1.43% | 1.26% | 0.76% | 0.80% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
SPSM vs. HSMV - Drawdown Comparison
The maximum SPSM drawdown since its inception was -42.89%, which is greater than HSMV's maximum drawdown of -19.16%. Use the drawdown chart below to compare losses from any high point for SPSM and HSMV.
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Drawdown Indicators
| SPSM | HSMV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.89% | -19.16% | -23.73% |
Max Drawdown (1Y)Largest decline over 1 year | -14.82% | -10.57% | -4.25% |
Max Drawdown (5Y)Largest decline over 5 years | -27.94% | -19.16% | -8.78% |
Max Drawdown (10Y)Largest decline over 10 years | -42.89% | — | — |
Current DrawdownCurrent decline from peak | -5.81% | -5.59% | -0.22% |
Average DrawdownAverage peak-to-trough decline | -8.02% | -5.71% | -2.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.67% | 2.89% | +0.78% |
Volatility
SPSM vs. HSMV - Volatility Comparison
SPDR Portfolio S&P 600 Small Cap ETF (SPSM) has a higher volatility of 6.26% compared to First Trust Horizon Managed Volatility Small/Mid ETF (HSMV) at 3.53%. This indicates that SPSM's price experiences larger fluctuations and is considered to be riskier than HSMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPSM | HSMV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.26% | 3.53% | +2.73% |
Volatility (6M)Calculated over the trailing 6-month period | 12.94% | 7.15% | +5.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.56% | 13.63% | +8.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.54% | 15.02% | +6.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.98% | 16.19% | +6.79% |