TDV vs. SMDV

Last updated Jun 24, 2026

TDV (ProShares S&P Technology Dividend Aristocrats ETF) and SMDV (ProShares Russell 2000 Dividend Growers ETF) are both exchange-traded funds - TDV is a Technology Equities fund tracking the Zacks 2040 Lifecycle Index, while SMDV is a Small Cap Blend Equities fund tracking the Russell 2000 Dividend Growth Index. Both are passively managed. Over the past 5 years, TDV returned 12.89%/yr vs 5.71%/yr for SMDV. A 0.65 correlation means they provide meaningful diversification when combined. TDV charges 0.66%/yr vs 0.40%/yr for SMDV.

Performance

TDV vs. SMDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares S&P Technology Dividend Aristocrats ETF (TDV) and ProShares Russell 2000 Dividend Growers ETF (SMDV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TDV achieves a 17.21% return, which is significantly higher than SMDV's 14.44% return.

TDV

• 1D: -3.13%
• 1M: 0.28%
• YTD: 17.21%
• 6M: 15.19%
• 1Y: 26.66%
• 3Y*: 18.07%
• 5Y*: 12.89%
• 10Y*: —

SMDV

• 1D: 0.73%
• 1M: 4.36%
• YTD: 14.44%
• 6M: 12.49%
• 1Y: 18.70%
• 3Y*: 12.12%
• 5Y*: 5.71%
• 10Y*: 7.53%

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

TDV vs. SMDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
TDV ProShares S&P Technology Dividend Aristocrats ETF	17.21%	16.05%	9.72%	27.29%	-15.94%	28.29%	29.00%	2.86%
SMDV ProShares Russell 2000 Dividend Growers ETF	14.44%	0.26%	7.03%	8.99%	-5.90%	18.98%	-4.74%	1.73%

Correlation

The correlation between TDV and SMDV is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (All Time) Calculated using the full available price history since Nov 7, 2019	0.65

The correlation between TDV and SMDV shifts across timeframes, from 0.50 (1 year) to 0.65 (all time), reflecting how their relationship changes across market environments.

TDV vs. SMDV - Sectors Allocation Comparison

Sectors	TDV	SMDV
Technology	90.7%	2.5%
Financial Services	4.9%	32.8%
Industrials	4.4%	21.9%
Basic Materials	-	8.3%
Communication Services	-	1.1%
Consumer Cyclical	-	4.1%
Consumer Defensive	-	4.4%
Energy	-	-
Healthcare	-	1.6%
Real Estate	-	7.5%
Utilities	-	15.7%

Return for Risk

TDV vs. SMDV — Risk / Return Rank

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

TDV

TDV Risk / Return Rank: 48
TDV Sharpe Ratio Rank: 43
TDV Sortino Ratio Rank: 40
TDV Omega Ratio Rank: 41
TDV Calmar Ratio Rank: 59
TDV Martin Ratio Rank: 55

SMDV

SMDV Risk / Return Rank: 38
SMDV Sharpe Ratio Rank: 35
SMDV Sortino Ratio Rank: 38
SMDV Omega Ratio Rank: 34
SMDV Calmar Ratio Rank: 41
SMDV Martin Ratio Rank: 39

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.

TDV vs. SMDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares S&P Technology Dividend Aristocrats ETF (TDV) and ProShares Russell 2000 Dividend Growers ETF (SMDV). 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.

	TDV	SMDV	Difference
Sharpe ratio: Return per unit of total volatility	1.45	1.20	+0.24
Sortino ratio: Return per unit of downside risk	1.98	1.89	+0.10
Omega ratio: Gain probability vs. loss probability	1.26	1.22	+0.04
Calmar ratio: Return relative to maximum drawdown	2.80	1.92	+0.89
Martin ratio: Return relative to average drawdown	9.19	5.83	+3.36

TDV vs. SMDV - Sharpe Ratio Comparison

The current TDV Sharpe Ratio is 1.45, which is comparable to the SMDV Sharpe Ratio of 1.20. The chart below compares the historical Sharpe Ratios of TDV and SMDV, 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

TDV vs. SMDV - Drawdown Comparison

The maximum TDV drawdown since its inception was -32.78%, roughly equal to the maximum SMDV drawdown of -34.12%. Use the drawdown chart below to compare losses from any high point for TDV and SMDV.

Drawdown Indicators

	TDV	SMDV	Difference
Max Drawdown Largest peak-to-trough decline	-32.78%	-34.12%	+1.34%
Max Drawdown (1Y) Largest decline over 1 year	-9.55%	-9.79%	+0.24%
Max Drawdown (3Y) Largest decline over 3 years	-22.51%	-21.23%	-1.28%
Max Drawdown (5Y) Largest decline over 5 years	-25.11%	-21.23%	-3.88%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.12%	—
Current Drawdown Current decline from peak	-5.17%	0.00%	-5.17%
Average Drawdown Average peak-to-trough decline	-5.35%	-5.91%	+0.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.91%	3.22%	-0.31%

Volatility

TDV vs. SMDV - Volatility Comparison

ProShares S&P Technology Dividend Aristocrats ETF (TDV) has a higher volatility of 8.96% compared to ProShares Russell 2000 Dividend Growers ETF (SMDV) at 4.01%. This indicates that TDV's price experiences larger fluctuations and is considered to be riskier than SMDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TDV	SMDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.96%	4.01%	+4.95%
Volatility (6M) Calculated over the trailing 6-month period	14.58%	10.57%	+4.01%
Volatility (1Y) Calculated over the trailing 1-year period	18.56%	15.79%	+2.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.69%	18.61%	+2.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.30%	20.74%	+2.56%

TDV vs. SMDV - Expense Ratio Comparison

TDV has a 0.66% expense ratio, which is higher than SMDV's 0.40% expense ratio.

Dividends

TDV vs. SMDV - Dividend Comparison

TDV's dividend yield for the trailing twelve months is around 0.98%, less than SMDV's 2.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SMDV ProShares Russell 2000 Dividend Growers ETF	2.30%	2.67%	2.68%	2.69%	2.51%	2.02%	2.13%	2.03%	1.97%	1.84%	1.35%	1.81%
TDV ProShares S&P Technology Dividend Aristocrats ETF	0.98%	1.09%	1.16%	1.16%	1.67%	1.08%	1.10%	0.11%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TDV and SMDV in my portfolio?

TDV and SMDV have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TDV or SMDV?

TDV has higher volatility (8.96%) compared to SMDV (4.01%). In terms of maximum drawdown, TDV dropped -32.78% vs SMDV's -34.12%.

Which ETF is better, TDV or SMDV?

On 5-year performance, TDV leads with 12.89% vs 5.71% for SMDV. On fees, SMDV is cheaper at 0.40% per year. On volatility, SMDV has been the lower-risk option at 4.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TDV or SMDV?

Over the 5-year period, TDV has performed better with a 12.89% return vs 5.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TDV or SMDV?

SMDV is cheaper with a 0.40% expense ratio, compared with 0.66% for TDV.

Which ETF pays a higher dividend yield, TDV or SMDV?

SMDV has the higher dividend yield at 2.30%, compared with 0.98% for TDV.

What is the main difference between TDV and SMDV?

TDV is categorized as Technology Equities, while SMDV is Small Cap Blend Equities. TDV tracks Zacks 2040 Lifecycle Index, while SMDV tracks Russell 2000 Dividend Growth Index. Their fees differ too: 0.66% for TDV and 0.40% for SMDV.

Which has better risk-adjusted returns?

TDV currently has the higher Sharpe Ratio (1.45 vs 1.20), 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.