SMAP vs SMMD
Amplify Small-Mid Cap Equity ETF vs iShares Russell 2500 ETF
Which is better, SMAP or SMMD?
Nearly the same fund. SMMD costs less.
SMMD has a lower expense ratio. SMMD led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.95. SMAP is less concentrated, with 32.8% of the fund in its ten largest positions against 43.9%.
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 | SMAP | SMMD |
|---|---|---|
| Expense Ratio | 0.60% | 0.15%Best |
| AUM | $1M | $4.0B |
| Dividend Yield | 0.42% | 1.17% |
| Holdings | 57 | 1,030 |
| Volatility (annualized) | 15.0%Best | 17.5% |
| Max Drawdown | -24.2%Best | -25.5% |
| $10,000 over 1.6 years | $10,833 | $13,391Best |
| Top 10 Weight | 32.8%Best | 43.9% |
| Fund Family | Amplify ETFs | iShares by BlackRock (US) |
| Category | Equity | Equity |
| Style | Small Cap Blend | Small Cap Blend |
| Inception | Oct 23, 2024 | Jul 6, 2017 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 132 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. SMAP has data through Jun 4, 2026 and SMMD through Oct 14, 2026.
Volatility and max drawdown, and the $10,000 over 1.6 years row, are measured over the window both funds cover: Oct 23, 2024 to Jun 4, 2026 (1.6 years).
Risk: Volatility and Drawdowns
SMMD has been the more volatile fund, with annualized monthly volatility of 17.5% compared with 15.0% for SMAP. 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 -24.2% for SMAP and -25.5% for SMMD. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.95. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SMAP charges 0.60% per year while SMMD charges 0.15%. On a $10,000 position that is $60 vs $15 annually, a gap of $45 per year that compounds over a long holding period. On income, SMAP currently yields 0.42% against 1.17% for SMMD.
Holdings Overlap
44.3% of SMAP's money is in holdings SMMD also owns. 3.3% of SMMD's money is in holdings SMAP also owns.
The two portfolios partly overlap.
The two holdings books were reported 154 days apart, SMAP as of Apr 30, 2026 and SMMD as of Oct 1, 2026, so some of the difference between them is the time between the two reports rather than the funds.
22 positions in common, counted across the 56 positions we hold weights for in SMAP and 514 in SMMD, against full books of 57 and 1,030.
What only one of them owns
Our book lists 476 positions for SMMD that do not appear in our book for SMAP (94.9% of the fund), and 32 for SMAP that do not appear in SMMD (53.5%).
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
| Stock | Weight in SMAP | Weight in SMMD | Difference |
|---|---|---|---|
| MKSIMks Instruments Inc | 3.56% | 0.26% | 3.30% |
| SFStifel Finl Corp | 2.99% | 0.15% | 2.84% |
| WSOWatsco Inc | 2.89% | 0.15% | 2.74% |
| MTDRMatador Resources Co | 2.79% | 0.09% | 2.70% |
| RGENRepligen Corp | 2.50% | 0.13% | 2.37% |
| AITApplied Industrial Technologies Inc | 2.43% | 0.18% | 2.25% |
| AFGAmerican Financial Group Inc/Oh | 2.47% | 0.13% | 2.34% |
| EXPEagle Materials Inc | 2.50% | 0.08% | 2.42% |
| EGPEastgroup Properties Inc. Real Estate Investment Trust | 2.14% | 0.15% | 1.99% |
| RRCRange Resources Corp | 2.14% | 0.12% | 2.02% |
44.3% of SMAP is already inside SMMD.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SMAP or SMMD?
SMAP has an expense ratio of 0.60% while SMMD charges 0.15%. SMMD is the cheaper option, by $45 a year on a $10,000 investment.
Which is riskier, SMAP or SMMD?
SMMD has been the more volatile fund at 17.5% annualized versus 15.0% for SMAP. Worst drawdown: SMAP -24.2% vs SMMD -25.5%.
Should I hold both SMAP and SMMD?
SMAP and SMMD have a monthly-return correlation of 0.95, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between SMAP and SMMD?
44.3% of SMAP's money is in holdings SMMD also owns. 3.3% of SMMD's is in holdings SMAP also owns. They hold 22 positions in common, counted across the 56 positions we hold weights for in SMAP and 514 in SMMD.
Which pays a higher dividend, SMAP or SMMD?
SMAP yields 0.42% while SMMD yields 1.17%, so SMMD currently pays the higher dividend yield.
Is SMMD better than SMAP?
SMMD has a lower expense ratio. SMMD led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.95. SMAP is less concentrated, with 32.8% of the fund in its ten largest positions against 43.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.