SVAL vs. SMCF

Last updated Jun 4, 2026

SVAL (iShares US Small Cap Value Factor ETF) and SMCF (Themes US Small Cap Cash Flow Champions ETF) are both Small Cap Value Equities funds - SVAL tracks the Russell 2000 Focused Value Select Index while SMCF tracks the Solactive US Small Cap Cash Flow Champions Index - Benchmark TR Gross. Both are passively managed. Over the past year, SVAL returned 34.88% vs 32.87% for SMCF. Their correlation of 0.88 suggests significant overlap in exposure. SVAL charges 0.20%/yr vs 0.29%/yr for SMCF.

Performance

SVAL vs. SMCF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares US Small Cap Value Factor ETF (SVAL) and Themes US Small Cap Cash Flow Champions ETF (SMCF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SVAL achieves a 15.99% return, which is significantly higher than SMCF's 13.75% return.

SVAL

• 1D: -1.51%
• 1M: 2.08%
• YTD: 15.99%
• 6M: 15.39%
• 1Y: 34.88%
• 3Y*: 17.30%
• 5Y*: 6.47%
• 10Y*: —

SMCF

• 1D: -1.14%
• 1M: -1.09%
• YTD: 13.75%
• 6M: 13.63%
• 1Y: 32.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SVAL vs. SMCF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SVAL iShares US Small Cap Value Factor ETF	15.99%	8.23%	7.54%	4.12%
SMCF Themes US Small Cap Cash Flow Champions ETF	13.75%	9.56%	16.30%	4.47%

Correlation

The correlation between SVAL and SMCF is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (All Time) Calculated using the full available price history since Dec 14, 2023	0.88

The correlation between SVAL and SMCF has been stable across timeframes, ranging from 0.86 to 0.88 - a consistent structural relationship.

SVAL vs. SMCF - Sectors Allocation Comparison

Sectors	SVAL	SMCF
Financial Services	23.7%	50.0%
Industrials	15.8%	9.8%
Consumer Cyclical	13.7%	2.6%
Technology	10.7%	11.0%
Healthcare	10.3%	4.4%
Energy	7.7%	18.2%
Basic Materials	6.1%	0.6%
Consumer Defensive	4.1%	1.4%
Utilities	3.3%	-
Real Estate	2.7%	0.5%
Communication Services	1.8%	1.5%

Return for Risk

SVAL vs. SMCF — Risk / Return Rank

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

SVAL

SVAL Risk / Return Rank: 64
SVAL Sharpe Ratio Rank: 57
SVAL Sortino Ratio Rank: 60
SVAL Omega Ratio Rank: 56
SVAL Calmar Ratio Rank: 77
SVAL Martin Ratio Rank: 67

SMCF

SMCF Risk / Return Rank: 67
SMCF Sharpe Ratio Rank: 61
SMCF Sortino Ratio Rank: 63
SMCF Omega Ratio Rank: 59
SMCF Calmar Ratio Rank: 85
SMCF Martin Ratio Rank: 68

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.

SVAL vs. SMCF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares US Small Cap Value Factor ETF (SVAL) and Themes US Small Cap Cash Flow Champions ETF (SMCF). 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.

	SVAL	SMCF	Difference
Sharpe ratio: Return per unit of total volatility	1.97	2.05	-0.08
Sortino ratio: Return per unit of downside risk	2.88	2.95	-0.07
Omega ratio: Gain probability vs. loss probability	1.35	1.36	-0.02
Calmar ratio: Return relative to maximum drawdown	3.92	4.63	-0.71
Martin ratio: Return relative to average drawdown	12.29	12.46	-0.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SVAL vs. SMCF - Sharpe Ratio Comparison

The current SVAL Sharpe Ratio is 1.97, which is comparable to the SMCF Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of SVAL and SMCF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SVAL	SMCF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.97	2.05	-0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.29	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.91	-0.21

Drawdowns

SVAL vs. SMCF - Drawdown Comparison

The maximum SVAL drawdown since its inception was -27.44%, roughly equal to the maximum SMCF drawdown of -28.48%. Use the drawdown chart below to compare losses from any high point for SVAL and SMCF.

Drawdown Indicators

	SVAL	SMCF	Difference
Max Drawdown Largest peak-to-trough decline	-27.44%	-28.48%	+1.04%
Max Drawdown (1Y) Largest decline over 1 year	-8.94%	-7.13%	-1.81%
Max Drawdown (3Y) Largest decline over 3 years	-27.44%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.44%	—	—
Current Drawdown Current decline from peak	-1.51%	-2.44%	+0.93%
Average Drawdown Average peak-to-trough decline	-8.51%	-5.29%	-3.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.85%	2.65%	+0.20%

Volatility

SVAL vs. SMCF - Volatility Comparison

iShares US Small Cap Value Factor ETF (SVAL) has a higher volatility of 4.31% compared to Themes US Small Cap Cash Flow Champions ETF (SMCF) at 3.55%. This indicates that SVAL's price experiences larger fluctuations and is considered to be riskier than SMCF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SVAL	SMCF	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.31%	3.55%	+0.76%
Volatility (6M) Calculated over the trailing 6-month period	11.62%	10.00%	+1.62%
Volatility (1Y) Calculated over the trailing 1-year period	17.87%	16.18%	+1.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.33%	20.31%	+2.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.27%	20.31%	+2.96%

SVAL vs. SMCF - Expense Ratio Comparison

SVAL has a 0.20% expense ratio, which is lower than SMCF's 0.29% expense ratio.

Dividends

SVAL vs. SMCF - Dividend Comparison

SVAL's dividend yield for the trailing twelve months is around 2.27%, less than SMCF's 3.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
SMCF Themes US Small Cap Cash Flow Champions ETF	3.44%	3.91%	0.61%	0.00%	0.00%	0.00%	0.00%
SVAL iShares US Small Cap Value Factor ETF	2.27%	2.33%	1.82%	2.25%	2.09%	2.33%	0.28%

Frequently Asked Questions

Can I hold both SVAL and SMCF in my portfolio?

SVAL and SMCF have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SVAL or SMCF?

SVAL has higher volatility (4.31%) compared to SMCF (3.55%). In terms of maximum drawdown, SVAL dropped -27.44% vs SMCF's -28.48%.

Which ETF is better, SVAL or SMCF?

On 1-year performance, SVAL leads with 34.88% vs 32.87% for SMCF. On fees, SVAL is cheaper at 0.20% per year. On volatility, SMCF has been the lower-risk option at 3.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SVAL or SMCF?

Over the 1-year period, SVAL has performed better with a 34.88% return vs 32.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SVAL or SMCF?

SVAL is cheaper with a 0.20% expense ratio, compared with 0.29% for SMCF.

Which ETF pays a higher dividend yield, SVAL or SMCF?

SMCF has the higher dividend yield at 3.44%, compared with 2.27% for SVAL.

What is the main difference between SVAL and SMCF?

SVAL tracks Russell 2000 Focused Value Select Index, while SMCF tracks Solactive US Small Cap Cash Flow Champions Index - Benchmark TR Gross. They also come from different issuers: iShares and Themes. Their fees differ too: 0.20% for SVAL and 0.29% for SMCF.

Which has better risk-adjusted returns?

SMCF currently has the higher Sharpe Ratio (2.05 vs 1.97), 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.