XDIV vs. SMB

Last updated Jun 4, 2026

XDIV (Roundhill S&P 500 No Dividend Target ETF) and SMB (VanEck Short Muni ETF) are both exchange-traded funds - XDIV is a S&P 500 fund actively managed by Roundhill, while SMB is a Municipal Bonds fund tracking the Bloomberg AMT-Free Short Continuous. XDIV is actively managed, while SMB is passively managed. At a 0.17 correlation, their price movements are largely independent. XDIV charges 0.09%/yr vs 0.20%/yr for SMB.

Performance

XDIV vs. SMB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill S&P 500 No Dividend Target ETF (XDIV) and VanEck Short Muni ETF (SMB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XDIV achieves a 10.63% return, which is significantly higher than SMB's 0.55% return.

XDIV

• 1D: -0.67%
• 1M: 5.14%
• YTD: 10.63%
• 6M: 10.83%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SMB

• 1D: 0.00%
• 1M: 0.53%
• YTD: 0.55%
• 6M: 1.25%
• 1Y: 3.81%
• 3Y*: 3.62%
• 5Y*: 1.17%
• 10Y*: 1.51%

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

XDIV vs. SMB - Yearly Performance Comparison

	2026 (YTD)	2025
XDIV Roundhill S&P 500 No Dividend Target ETF	10.63%	9.90%
SMB VanEck Short Muni ETF	0.55%	2.12%

Correlation

The correlation between XDIV and SMB is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 11, 2025	0.17

Return for Risk

XDIV vs. SMB — Risk / Return Rank

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

SMB

SMB Risk / Return Rank: 69
SMB Sharpe Ratio Rank: 71
SMB Sortino Ratio Rank: 76
SMB Omega Ratio Rank: 77
SMB Calmar Ratio Rank: 66
SMB Martin Ratio Rank: 54

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.

XDIV vs. SMB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill S&P 500 No Dividend Target ETF (XDIV) and VanEck Short Muni ETF (SMB). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	XDIV	SMB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.33	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.48	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.36	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.98	0.42	+1.56

Drawdowns

XDIV vs. SMB - Drawdown Comparison

The maximum XDIV drawdown since its inception was -9.16%, smaller than the maximum SMB drawdown of -12.64%. Use the drawdown chart below to compare losses from any high point for XDIV and SMB.

Drawdown Indicators

	XDIV	SMB	Difference
Max Drawdown Largest peak-to-trough decline	-9.16%	-12.64%	+3.48%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.17%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-1.80%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-7.48%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-12.64%	—
Current Drawdown Current decline from peak	-0.67%	-0.25%	-0.42%
Average Drawdown Average peak-to-trough decline	-1.20%	-1.14%	-0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.41%	—

Volatility

Volatility by Period

	XDIV	SMB	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.42%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.20%	—
Volatility (1Y) Calculated over the trailing 1-year period	12.31%	1.64%	+10.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.31%	2.48%	+9.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.31%	4.26%	+8.05%

XDIV vs. SMB - Expense Ratio Comparison

XDIV has a 0.09% expense ratio, which is lower than SMB's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XDIV vs. SMB - Dividend Comparison

XDIV has not paid dividends to shareholders, while SMB's dividend yield for the trailing twelve months is around 2.70%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SMB VanEck Short Muni ETF	2.70%	2.63%	2.38%	1.83%	1.32%	1.24%	1.50%	1.58%	1.49%	1.23%	1.12%	1.13%
XDIV Roundhill S&P 500 No Dividend Target ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XDIV and SMB in my portfolio?

XDIV and SMB have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XDIV or SMB?

On fees, XDIV is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XDIV or SMB?

XDIV is cheaper with a 0.09% expense ratio, compared with 0.20% for SMB.

Which ETF pays a higher dividend yield, XDIV or SMB?

SMB has the higher dividend yield at 2.70%, compared with 0.00% for XDIV.

What is the main difference between XDIV and SMB?

XDIV is categorized as S&P 500, while SMB is Municipal Bonds. They also come from different issuers: Roundhill and VanEck. Their fees differ too: 0.09% for XDIV and 0.20% for SMB.