TPSC vs. HSMV

Last updated Jun 24, 2026

TPSC (Timothy Plan US Small Cap Core ETF) and HSMV (First Trust Horizon Managed Volatility Small/Mid ETF) are both Small Cap Blend Equities funds. TPSC is passively managed, while HSMV is actively managed. Over the past 5 years, TPSC returned 7.89%/yr vs 4.65%/yr for HSMV. Their correlation of 0.90 suggests significant overlap in exposure. TPSC charges 0.52%/yr vs 0.80%/yr for HSMV.

Performance

TPSC vs. HSMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Timothy Plan US Small Cap Core ETF (TPSC) and First Trust Horizon Managed Volatility Small/Mid ETF (HSMV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TPSC achieves a 13.05% return, which is significantly higher than HSMV's 6.36% return.

TPSC

• 1D: -0.02%
• 1M: 3.31%
• YTD: 13.05%
• 6M: 11.02%
• 1Y: 23.42%
• 3Y*: 16.15%
• 5Y*: 7.89%
• 10Y*: —

HSMV

• 1D: 0.95%
• 1M: 1.13%
• YTD: 6.36%
• 6M: 5.52%
• 1Y: 6.78%
• 3Y*: 9.91%
• 5Y*: 4.65%
• 10Y*: —

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

TPSC vs. HSMV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
TPSC Timothy Plan US Small Cap Core ETF	13.05%	7.34%	11.50%	17.64%	-13.46%	29.74%	64.87%
HSMV First Trust Horizon Managed Volatility Small/Mid ETF	6.36%	1.57%	13.17%	5.01%	-9.44%	23.72%	34.70%

Correlation

The correlation between TPSC and HSMV is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Apr 7, 2020	0.90

The correlation between TPSC and HSMV shifts across timeframes, from 0.79 (1 year) to 0.90 (all time), reflecting how their relationship changes across market environments.

TPSC vs. HSMV - Sectors Allocation Comparison

Sectors	TPSC	HSMV
Financial Services	23.9%	16.7%
Industrials	18.6%	14.6%
Consumer Cyclical	13.7%	7.9%
Technology	13.0%	1.9%
Healthcare	7.2%	4.7%
Utilities	6.6%	11.7%
Energy	5.4%	2.8%
Basic Materials	5.3%	5.8%
Consumer Defensive	5.0%	7.2%
Real Estate	0.7%	24.3%
Communication Services	0.6%	2.4%

Return for Risk

TPSC vs. HSMV — Risk / Return Rank

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

TPSC

TPSC Risk / Return Rank: 50
TPSC Sharpe Ratio Rank: 46
TPSC Sortino Ratio Rank: 49
TPSC Omega Ratio Rank: 44
TPSC Calmar Ratio Rank: 57
TPSC Martin Ratio Rank: 54

HSMV

HSMV Risk / Return Rank: 20
HSMV Sharpe Ratio Rank: 20
HSMV Sortino Ratio Rank: 19
HSMV Omega Ratio Rank: 18
HSMV Calmar Ratio Rank: 20
HSMV Martin Ratio Rank: 22

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.

TPSC vs. HSMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Timothy Plan US Small Cap Core ETF (TPSC) 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.

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.

	TPSC	HSMV	Difference
Sharpe ratio: Return per unit of total volatility	1.50	0.65	+0.85
Sortino ratio: Return per unit of downside risk	2.27	1.03	+1.25
Omega ratio: Gain probability vs. loss probability	1.27	1.11	+0.15
Calmar ratio: Return relative to maximum drawdown	2.63	0.87	+1.76
Martin ratio: Return relative to average drawdown	8.60	2.58	+6.02

TPSC vs. HSMV - Sharpe Ratio Comparison

The current TPSC Sharpe Ratio is 1.50, which is higher than the HSMV Sharpe Ratio of 0.65. The chart below compares the historical Sharpe Ratios of TPSC and HSMV, 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

TPSC vs. HSMV - Drawdown Comparison

The maximum TPSC drawdown since its inception was -41.79%, which is greater than HSMV's maximum drawdown of -19.16%. Use the drawdown chart below to compare losses from any high point for TPSC and HSMV.

Drawdown Indicators

	TPSC	HSMV	Difference
Max Drawdown Largest peak-to-trough decline	-41.79%	-19.16%	-22.63%
Max Drawdown (1Y) Largest decline over 1 year	-8.95%	-7.83%	-1.12%
Max Drawdown (3Y) Largest decline over 3 years	-23.44%	-15.45%	-7.99%
Max Drawdown (5Y) Largest decline over 5 years	-23.63%	-19.16%	-4.47%
Current Drawdown Current decline from peak	-0.15%	-1.35%	+1.20%
Average Drawdown Average peak-to-trough decline	-8.36%	-5.58%	-2.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	2.63%	+0.10%

Volatility

TPSC vs. HSMV - Volatility Comparison

Timothy Plan US Small Cap Core ETF (TPSC) and First Trust Horizon Managed Volatility Small/Mid ETF (HSMV) have volatilities of 3.43% and 3.58%, 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

	TPSC	HSMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.43%	3.58%	-0.15%
Volatility (6M) Calculated over the trailing 6-month period	10.65%	7.63%	+3.02%
Volatility (1Y) Calculated over the trailing 1-year period	15.79%	10.62%	+5.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.86%	15.00%	+4.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.39%	16.03%	+8.36%

TPSC vs. HSMV - Expense Ratio Comparison

TPSC has a 0.52% expense ratio, which is lower than HSMV's 0.80% expense ratio.

Dividends

TPSC vs. HSMV - Dividend Comparison

TPSC's dividend yield for the trailing twelve months is around 1.02%, less than HSMV's 1.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
HSMV First Trust Horizon Managed Volatility Small/Mid ETF	1.94%	2.01%	1.43%	1.43%	1.26%	0.76%	0.80%	0.00%
TPSC Timothy Plan US Small Cap Core ETF	1.02%	1.07%	0.97%	1.06%	1.07%	1.12%	1.13%	0.07%

Frequently Asked Questions

Can I hold both TPSC and HSMV in my portfolio?

TPSC and HSMV have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TPSC or HSMV?

HSMV has higher volatility (3.58%) compared to TPSC (3.43%). In terms of maximum drawdown, TPSC dropped -41.79% vs HSMV's -19.16%.

Which ETF is better, TPSC or HSMV?

On 5-year performance, TPSC leads with 7.89% vs 4.65% for HSMV. On fees, TPSC is cheaper at 0.52% per year. On volatility, TPSC has been the lower-risk option at 3.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TPSC or HSMV?

Over the 5-year period, TPSC has performed better with a 7.89% return vs 4.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TPSC or HSMV?

TPSC is cheaper with a 0.52% expense ratio, compared with 0.80% for HSMV.

Which ETF pays a higher dividend yield, TPSC or HSMV?

HSMV has the higher dividend yield at 1.94%, compared with 1.02% for TPSC.

What is the main difference between TPSC and HSMV?

They also come from different issuers: Timothy Plan and First Trust. Their fees differ too: 0.52% for TPSC and 0.80% for HSMV.

Which has better risk-adjusted returns?

TPSC currently has the higher Sharpe Ratio (1.50 vs 0.65), 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.