USVM vs. SMIZ

Last updated Jun 4, 2026

USVM (VictoryShares US Small Mid Cap Value Momentum ETF) and SMIZ (Zacks Small/Mid Cap ETF) are both exchange-traded funds - USVM is a Momentum fund tracking the Nasdaq Victory US Small Mid Cap Value Momentum Index, while SMIZ is a Mid Cap Blend Equities fund actively managed by Zacks. USVM is passively managed, while SMIZ is actively managed. Over the past year, USVM returned 30.42% vs 33.24% for SMIZ. Their correlation of 0.92 suggests significant overlap in exposure. USVM charges 0.29%/yr vs 0.56%/yr for SMIZ.

Performance

USVM vs. SMIZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VictoryShares US Small Mid Cap Value Momentum ETF (USVM) and Zacks Small/Mid Cap ETF (SMIZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USVM achieves a 15.26% return, which is significantly lower than SMIZ's 16.76% return.

USVM

• 1D: -0.40%
• 1M: 2.60%
• YTD: 15.26%
• 6M: 15.00%
• 1Y: 30.42%
• 3Y*: 19.79%
• 5Y*: 9.74%
• 10Y*: —

SMIZ

• 1D: 0.93%
• 1M: 3.71%
• YTD: 16.76%
• 6M: 15.92%
• 1Y: 33.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

USVM vs. SMIZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
USVM VictoryShares US Small Mid Cap Value Momentum ETF	15.26%	10.56%	16.59%	16.81%
SMIZ Zacks Small/Mid Cap ETF	16.76%	12.16%	17.92%	16.39%

Correlation

The correlation between USVM and SMIZ is 0.88, 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	0.88
Correlation (All Time) Calculated using the full available price history since Oct 4, 2023	0.92

The correlation between USVM and SMIZ has been stable across timeframes, ranging from 0.88 to 0.92 - a consistent structural relationship.

USVM vs. SMIZ - Sectors Allocation Comparison

Sectors	USVM	SMIZ
Financial Services	22.0%	21.0%
Industrials	12.1%	21.6%
Real Estate	11.9%	3.5%
Technology	11.6%	24.7%
Consumer Cyclical	11.1%	6.1%
Healthcare	11.0%	8.1%
Utilities	6.4%	2.6%
Consumer Defensive	5.0%	4.2%
Energy	4.4%	2.9%
Communication Services	2.8%	2.4%
Basic Materials	1.8%	3.1%

Return for Risk

USVM vs. SMIZ — Risk / Return Rank

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

USVM

USVM Risk / Return Rank: 65
USVM Sharpe Ratio Rank: 60
USVM Sortino Ratio Rank: 63
USVM Omega Ratio Rank: 57
USVM Calmar Ratio Rank: 73
USVM Martin Ratio Rank: 73

SMIZ

SMIZ Risk / Return Rank: 60
SMIZ Sharpe Ratio Rank: 57
SMIZ Sortino Ratio Rank: 58
SMIZ Omega Ratio Rank: 56
SMIZ Calmar Ratio Rank: 63
SMIZ 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.

USVM vs. SMIZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VictoryShares US Small Mid Cap Value Momentum ETF (USVM) and Zacks Small/Mid Cap ETF (SMIZ). 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.

	USVM	SMIZ	Difference
Sharpe ratio Return per unit of total volatility	2.05	2.00	+0.05
Sortino ratio Return per unit of downside risk	2.98	2.80	+0.17
Omega ratio Gain probability vs. loss probability	1.36	1.35	+0.01
Calmar ratio Return relative to maximum drawdown	3.66	3.19	+0.46
Martin ratio Return relative to average drawdown	13.76	12.77	+0.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USVM vs. SMIZ - Sharpe Ratio Comparison

The current USVM Sharpe Ratio is 2.05, which is comparable to the SMIZ Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of USVM and SMIZ, 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

	USVM	SMIZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.05	2.00	+0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	1.31	-0.83

Drawdowns

USVM vs. SMIZ - Drawdown Comparison

The maximum USVM drawdown since its inception was -42.38%, which is greater than SMIZ's maximum drawdown of -25.04%. Use the drawdown chart below to compare losses from any high point for USVM and SMIZ.

Drawdown Indicators

	USVM	SMIZ	Difference
Max Drawdown Largest peak-to-trough decline	-42.38%	-25.04%	-17.34%
Max Drawdown (1Y) Largest decline over 1 year	-8.36%	-10.51%	+2.15%
Max Drawdown (3Y) Largest decline over 3 years	-24.34%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.27%	—	—
Current Drawdown Current decline from peak	-0.57%	0.00%	-0.57%
Average Drawdown Average peak-to-trough decline	-7.90%	-3.98%	-3.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.22%	2.63%	-0.41%

Volatility

USVM vs. SMIZ - Volatility Comparison

VictoryShares US Small Mid Cap Value Momentum ETF (USVM) and Zacks Small/Mid Cap ETF (SMIZ) have volatilities of 4.50% and 4.50%, 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

	USVM	SMIZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.50%	4.50%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	10.73%	12.83%	-2.10%
Volatility (1Y) Calculated over the trailing 1-year period	14.93%	16.74%	-1.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.65%	18.89%	+0.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.01%	18.89%	+3.12%

USVM vs. SMIZ - Expense Ratio Comparison

USVM has a 0.29% expense ratio, which is lower than SMIZ's 0.56% expense ratio.

Dividends

USVM vs. SMIZ - Dividend Comparison

USVM's dividend yield for the trailing twelve months is around 1.76%, more than SMIZ's 0.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
SMIZ Zacks Small/Mid Cap ETF	0.53%	0.62%	1.57%	0.07%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USVM VictoryShares US Small Mid Cap Value Momentum ETF	1.76%	1.84%	1.75%	1.63%	1.43%	0.70%	1.21%	1.77%	1.43%	0.65%

Frequently Asked Questions

Can I hold both USVM and SMIZ in my portfolio?

USVM and SMIZ have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USVM or SMIZ?

SMIZ has higher volatility (4.50%) compared to USVM (4.50%). In terms of maximum drawdown, USVM dropped -42.38% vs SMIZ's -25.04%.

Which ETF is better, USVM or SMIZ?

On 1-year performance, SMIZ leads with 33.24% vs 30.42% for USVM. On fees, USVM is cheaper at 0.29% 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, USVM or SMIZ?

Over the 1-year period, SMIZ has performed better with a 33.24% return vs 30.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USVM or SMIZ?

USVM is cheaper with a 0.29% expense ratio, compared with 0.56% for SMIZ.

Which ETF pays a higher dividend yield, USVM or SMIZ?

USVM has the higher dividend yield at 1.76%, compared with 0.53% for SMIZ.

What is the main difference between USVM and SMIZ?

USVM is categorized as Momentum, while SMIZ is Mid Cap Blend Equities. They also come from different issuers: Victory Capital and Zacks. Their fees differ too: 0.29% for USVM and 0.56% for SMIZ.

Which has better risk-adjusted returns?

USVM currently has the higher Sharpe Ratio (2.05 vs 2.00), 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.