KEAT vs SMRI
Keating Active ETF vs Bushido Capital US Equity ETF
Which is better, KEAT or SMRI?
SMRI has been ahead.
SMRI has a lower expense ratio. SMRI led over 1Y and the full window. SMRI is less concentrated, with 21.6% of the fund in its ten largest positions against 68.9%.
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 | KEAT | SMRI |
|---|---|---|
| Expense Ratio | 0.85% | 0.71%Best |
| AUM | $119M | $690M |
| Dividend Yield | 2.82% | 1.50% |
| Holdings | 60 | 52 |
| YTD Return | +9.17% | +29.18%Best |
| 1Y Return | +14.84% | +36.86%Best |
| Volatility (annualized) | 12.4%Best | 16.3% |
| Max Drawdown | -10.6%Best | -18.1% |
| $10,000 over 2.5 years | $13,721 | $16,175Best |
| Top 10 Weight | 68.9% | 21.6%Best |
| Fund Family | Keating Investment Counselors | Bushido Capital |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Mar 27, 2024 | Sep 14, 2023 |
Not shown on this pair: 3Y Return (annualized), 5Y Return (annualized).
Volatility and max drawdown, and the $10,000 over 2.5 years row, are measured over the window both funds cover: Mar 27, 2024 to Oct 14, 2026 (2.5 years).
KEAT vs SMRI 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 2.5 years both funds cover.
KEAT vs SMRI Performance
Keating Active ETF (KEAT) is an ETF from Keating Investment Counselors and Bushido Capital US Equity ETF (SMRI) is an ETF from Bushido Capital. Over the past year KEAT returned +14.84% while SMRI returned +36.86%. Year to date, KEAT is up 9.17% versus a gain of 29.18% for SMRI.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SMRI has been the more volatile fund, with annualized monthly volatility of 16.3% compared with 12.4% for KEAT. 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 -10.6% for KEAT and -18.1% for SMRI. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.54. They move together some of the time, and apart the rest.
Fees and Cost Over Time
KEAT charges 0.85% per year while SMRI charges 0.71%. On a $10,000 position that is $85 vs $71 annually, a gap of $14 per year that compounds over a long holding period. On income, KEAT currently yields 2.82% against 1.50% for SMRI.
Holdings Overlap
0.1% of SMRI's money is in holdings KEAT also owns.
We cannot see either book well enough to say how much of this pair is duplicated.
1 positions in common, counted across the 29 positions we hold weights for in KEAT and 51 in SMRI, against full books of 60 and 52.
What only one of them owns
Our book lists 49 positions for SMRI that do not appear in our book for KEAT (97.9% of the fund), and 16 for KEAT that do not appear in SMRI (65.8%).
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
| Stock | Weight in KEAT | Weight in SMRI | Difference |
|---|---|---|---|
| FGXXXFirst American Government Obligations Fund | 0.00% | 0.10% | 0.10% |
You are not choosing between two funds in isolation.
Whichever of KEAT and SMRI 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, KEAT or SMRI?
KEAT has an expense ratio of 0.85% while SMRI charges 0.71%. SMRI is the cheaper option, by $14 a year on a $10,000 investment.
Which performed better, KEAT or SMRI?
Over the past year KEAT returned +14.84% vs +36.86% for SMRI, so SMRI leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, KEAT or SMRI?
SMRI has been the more volatile fund at 16.3% annualized versus 12.4% for KEAT. Worst drawdown: KEAT -10.6% vs SMRI -18.1%.
Should I hold both KEAT and SMRI?
KEAT and SMRI have a monthly-return correlation of 0.54, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, KEAT or SMRI?
KEAT yields 2.82% while SMRI yields 1.50%, so KEAT currently pays the higher dividend yield.
Is SMRI better than KEAT?
SMRI has a lower expense ratio. SMRI led over 1Y and the full window. SMRI is less concentrated, with 21.6% of the fund in its ten largest positions against 68.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.