SVAL vs. SMIG

Last updated Aug 2, 2026

SVAL (iShares US Small Cap Value Factor ETF) and SMIG (Bahl & Gaynor Small/Mid Cap Income Growth ETF) are both Small Cap Value Equities funds. SVAL is passively managed, while SMIG is actively managed. Over the past 3 years, SVAL returned 16.07%/yr vs 12.67%/yr for SMIG. Their correlation of 0.85 means they have usually moved in the same direction. SVAL charges 0.20%/yr vs 0.60%/yr for SMIG.

Performance

SVAL vs. SMIG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares US Small Cap Value Factor ETF (SVAL) and Bahl & Gaynor Small/Mid Cap Income Growth ETF (SMIG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SVAL achieves a 25.30% return, which is significantly higher than SMIG's 16.30% return.

SVAL

• 1D: 0.26%
• 1M: 2.62%
• 6M: 17.08%
• YTD: 25.30%
• 1Y: 43.73%
• 3Y*: 16.07%
• 5Y*: 9.86%
• 10Y*: —
• ALL TIME*: 17.62%

SMIG

• 1D: 0.24%
• 1M: 0.67%
• 6M: 11.37%
• YTD: 16.30%
• 1Y: 16.68%
• 3Y*: 12.67%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.88%

*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)
SMIG Bahl & Gaynor Small/Mid Cap Income Growth ETF	$7.13M	$7.85M	$8.52M
SVAL iShares US Small Cap Value Factor ETF	$620.93K	$633.76K	$608.86K

SVAL vs. SMIG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SVAL iShares US Small Cap Value Factor ETF	25.30%	8.23%	7.54%	12.27%	-10.15%	6.77%
SMIG Bahl & Gaynor Small/Mid Cap Income Growth ETF	16.30%	0.78%	17.63%	13.62%	-11.83%	5.23%

Correlation

The correlation between SVAL and SMIG is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.75
Correlation (3Y) Balances recent behavior with more history.	0.81
Correlation (All Time) Calculated using the full available price history since Aug 26, 2021	0.85

The correlation between SVAL and SMIG has been stable across timeframes, ranging from 0.75 to 0.85 - a consistent structural relationship.

SVAL vs. SMIG - Sectors Allocation Comparison

Sectors	SVAL	SMIG
Financial Services	22.7%	19.7%
Industrials	12.9%	19.1%
Healthcare	12.0%	2.7%
Consumer Cyclical	11.8%	14.2%
Technology	10.4%	10.8%
Energy	10.0%	10.4%
Real Estate	4.7%	9.7%
Basic Materials	4.7%	2.0%
Consumer Defensive	4.3%	2.2%
Utilities	3.4%	9.3%
Communication Services	3.0%	2.2%

Return for Risk

SVAL vs. SMIG — Risk / Return Rank

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

SVAL

SVAL Risk / Return Rank: 92
SVAL Sharpe Ratio Rank: 92
SVAL Sortino Ratio Rank: 93
SVAL Omega Ratio Rank: 91
SVAL Calmar Ratio Rank: 93
SVAL Martin Ratio Rank: 92

SMIG

SMIG Risk / Return Rank: 52
SMIG Sharpe Ratio Rank: 55
SMIG Sortino Ratio Rank: 59
SMIG Omega Ratio Rank: 52
SMIG Calmar Ratio Rank: 52
SMIG Martin Ratio Rank: 43

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.

SVAL vs. SMIG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares US Small Cap Value Factor ETF (SVAL) and Bahl & Gaynor Small/Mid Cap Income Growth ETF (SMIG). 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.

	SVAL	SMIG	Difference
Sharpe ratio: Return per unit of total volatility	2.41	1.33	+1.08
Sortino ratio: Return per unit of downside risk	3.51	2.02	+1.49
Omega ratio: Gain probability vs. loss probability	1.42	1.23	+0.19
Calmar ratio: Return relative to maximum drawdown	4.59	1.85	+2.74
Martin ratio: Return relative to average drawdown	15.49	4.83	+10.66

SVAL vs. SMIG - Sharpe Ratio Comparison

The current SVAL Sharpe Ratio is 2.41, which is higher than the SMIG Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of SVAL and SMIG, 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

SVAL vs. SMIG - Drawdown Comparison

The maximum SVAL drawdown since its inception was -27.44%, which is greater than SMIG's maximum drawdown of -19.65%. Use the drawdown chart below to compare losses from any high point for SVAL and SMIG.

Drawdown Indicators

	SVAL	SMIG	Difference
Max Drawdown Largest peak-to-trough decline	-27.44%	-19.65%	-7.79%
Max Drawdown (1Y) Largest decline over 1 year	-8.94%	-8.52%	-0.42%
Max Drawdown (3Y) Largest decline over 3 years	-27.44%	-19.23%	-8.21%
Max Drawdown (5Y) Largest decline over 5 years	-27.44%	—	—
Current Drawdown Current decline from peak	-0.79%	-1.24%	+0.45%
Average Drawdown Average peak-to-trough decline	-8.29%	-6.35%	-1.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.64%	3.25%	-0.61%

Volatility

SVAL vs. SMIG - Volatility Comparison

iShares US Small Cap Value Factor ETF (SVAL) and Bahl & Gaynor Small/Mid Cap Income Growth ETF (SMIG) have volatilities of 3.19% and 3.23%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SVAL	SMIG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.19%	3.23%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	10.99%	8.55%	+2.44%
Volatility (1Y) Calculated over the trailing 1-year period	17.03%	11.84%	+5.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.01%	16.05%	+5.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.04%	16.05%	+6.99%

SVAL vs. SMIG - Expense Ratio Comparison

SVAL has a 0.20% expense ratio, which is lower than SMIG's 0.60% expense ratio.

Dividends

SVAL vs. SMIG - Dividend Comparison

SVAL's dividend yield for the trailing twelve months is around 2.04%, more than SMIG's 1.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
SMIG Bahl & Gaynor Small/Mid Cap Income Growth ETF	1.66%	1.82%	1.75%	1.91%	2.00%	0.50%	0.00%
SVAL iShares US Small Cap Value Factor ETF	2.04%	2.33%	1.82%	2.25%	2.09%	2.33%	0.28%

Frequently Asked Questions

Can I hold both SVAL and SMIG in my portfolio?

SVAL and SMIG have a correlation of 0.75, 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 SMIG?

SMIG has higher volatility (3.23%) compared to SVAL (3.19%). In terms of maximum drawdown, SVAL dropped -27.44% vs SMIG's -19.65%.

Which ETF is better, SVAL or SMIG?

On 3-year performance, SVAL leads with 16.07% vs 12.67% for SMIG. On fees, SVAL is cheaper at 0.20% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SVAL or SMIG?

Over the 3-year period, SVAL has performed better with a 16.07% return vs 12.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SVAL or SMIG?

SVAL is cheaper with a 0.20% expense ratio, compared with 0.60% for SMIG.

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

SVAL has the higher dividend yield at 2.04%, compared with 1.66% for SMIG.

What is the main difference between SVAL and SMIG?

They also come from different issuers: iShares and Bahl & Gaynor. Their fees differ too: 0.20% for SVAL and 0.60% for SMIG.

Which has better risk-adjusted returns?

SVAL currently has the higher Sharpe Ratio (2.41 vs 1.33), 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.