FLQS vs SMLL
Franklin US Small Cap Multifactor Index ETF vs Harbor Active Small Cap ETF
Which is better, FLQS or SMLL?
FLQS has been ahead.
FLQS has a lower expense ratio. FLQS led over 1Y and the full window. FLQS is less concentrated, with 9.7% of the fund in its ten largest positions against 36.3%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | FLQS | SMLL |
|---|---|---|
| Expense Ratio | 0.35%Best | 0.80% |
| AUM | $50M | $12M |
| Dividend Yield | 1.57% | 1.63% |
| Holdings | 497 | 103 |
| YTD Return | +9.82%Best | +2.49% |
| 1Y Return | +9.87%Best | -0.71% |
| 3Y Return (annualized) | +12.65% | - |
| 5Y Return (annualized) | +5.25% | - |
| Volatility (annualized) | 15.8%Best | 17.4% |
| Max Drawdown | -23.1%Best | -23.6% |
| $10,000 over 2.1 years | $11,570Best | $10,541 |
| Top 10 Weight | 9.7%Best | 36.3% |
| Fund Family | Franklin Templeton Investments (US) | Harbor Funds |
| Category | Equity | Equity |
| Style | Small Cap Blend | Small Cap Blend |
| Inception | Apr 26, 2017 | Aug 27, 2024 |
Volatility and max drawdown, and the $10,000 over 2.1 years row, are measured over the window both funds cover: Aug 29, 2024 to Oct 14, 2026 (2.1 years).
FLQS vs SMLL growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.1 years both funds cover.
FLQS vs SMLL Performance
Franklin US Small Cap Multifactor Index ETF (FLQS) is an ETF from Franklin Templeton Investments (US) and Harbor Active Small Cap ETF (SMLL) is an ETF from Harbor Funds. Over the past year FLQS returned +9.87% while SMLL returned -0.71%. Year to date, FLQS is up 9.82% versus a gain of 2.49% for SMLL.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SMLL has been the more volatile fund, with annualized monthly volatility of 17.4% compared with 15.8% for FLQS. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -23.1% for FLQS and -23.6% for SMLL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.88. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FLQS charges 0.35% per year while SMLL charges 0.80%. On a $10,000 position that is $35 vs $80 annually, a gap of $45 per year that compounds over a long holding period. On income, FLQS currently yields 1.57% against 1.63% for SMLL.
Holdings Overlap
1.4% of FLQS's money is in holdings SMLL also owns. 10.1% of SMLL's money is in holdings FLQS also owns.
SMLL and FLQS share little of their money.
6 positions in common, counted across the 491 positions we hold weights for in FLQS and 51 in SMLL, against full books of 497 and 103.
What only one of them owns
Our book lists 45 positions for SMLL that do not appear in our book for FLQS (87.3% of the fund), and 462 for FLQS that do not appear in SMLL (93.5%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
You are not choosing between two funds in isolation.
Whichever of FLQS and SMLL you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FLQS or SMLL?
FLQS has an expense ratio of 0.35% while SMLL charges 0.80%. FLQS is the cheaper option, by $45 a year on a $10,000 investment.
Which performed better, FLQS or SMLL?
Over the past year FLQS returned +9.87% vs -0.71% for SMLL, so FLQS leads on 1-year performance. Over the longest common window we track (2 years), FLQS annualized +7.19% vs +2.54% for SMLL. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FLQS or SMLL?
SMLL has been the more volatile fund at 17.4% annualized versus 15.8% for FLQS. Worst drawdown: FLQS -23.1% vs SMLL -23.6%.
Should I hold both FLQS and SMLL?
FLQS and SMLL have a monthly-return correlation of 0.88, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between FLQS and SMLL?
10.1% of SMLL's money is in holdings FLQS also owns. 10.1% of SMLL's is in holdings FLQS also owns. They hold 6 positions in common, counted across the 491 positions we hold weights for in FLQS and 51 in SMLL.
Which pays a higher dividend, FLQS or SMLL?
FLQS yields 1.57% while SMLL yields 1.63%, so SMLL currently pays the higher dividend yield.
Is SMLL better than FLQS?
FLQS has a lower expense ratio. FLQS led over 1Y and the full window. FLQS is less concentrated, with 9.7% of the fund in its ten largest positions against 36.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.