SMRI vs TAX
Bushido Capital US Equity ETF vs Cambria Tax Aware ETF
Which is better, SMRI or TAX?
SMRI has been ahead.
TAX has a lower expense ratio. SMRI led over 1Y and the full window. TAX is less concentrated, with 17.5% of the fund in its ten largest positions against 21.6%.
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 | SMRI | TAX |
|---|---|---|
| Expense Ratio | 0.71% | 0.54%Best |
| AUM | $690M | $25M |
| Dividend Yield | 1.50% | 0.32% |
| Holdings | 52 | 200 |
| YTD Return | +29.18%Best | +5.03% |
| 1Y Return | +36.86%Best | +8.84% |
| Volatility (annualized) | 15.9% | 12.8%Best |
| Max Drawdown | -16.7%Best | -18.9% |
| $10,000 over 1.8 years | $15,378Best | $12,395 |
| Top 10 Weight | 21.6% | 17.5%Best |
| Fund Family | Bushido Capital | Cambria Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Sep 14, 2023 | Dec 18, 2024 |
Not shown on this pair: 3Y Return (annualized), 5Y Return (annualized).
Volatility and max drawdown, and the $10,000 over 1.8 years row, are measured over the window both funds cover: Dec 18, 2024 to Oct 14, 2026 (1.8 years).
SMRI vs TAX 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 1.8 years both funds cover.
SMRI vs TAX Performance
Bushido Capital US Equity ETF (SMRI) is an ETF from Bushido Capital and Cambria Tax Aware ETF (TAX) is an ETF from Cambria Investment Management. Over the past year SMRI returned +36.86% while TAX returned +8.84%. Year to date, SMRI is up 29.18% versus a gain of 5.03% for TAX.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SMRI has been the more volatile fund, with annualized monthly volatility of 15.9% compared with 12.8% for TAX. 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 -16.7% for SMRI and -18.9% for TAX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.47. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SMRI charges 0.71% per year while TAX charges 0.54%. On a $10,000 position that is $71 vs $54 annually, a gap of $17 per year that compounds over a long holding period. On income, SMRI currently yields 1.50% against 0.32% for TAX.
Holdings Overlap
18.5% of SMRI's money is in holdings TAX also owns. 10.9% of TAX's money is in holdings SMRI also owns.
SMRI and TAX share little of their money.
10 positions in common, counted across the 51 positions we hold weights for in SMRI and 98 in TAX, against full books of 52 and 200.
What only one of them owns
Our book lists 86 positions for TAX that do not appear in our book for SMRI (86.3% of the fund), and 40 for SMRI that do not appear in TAX (79.6%).
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 SMRI | Weight in TAX | Difference |
|---|---|---|---|
| UTHRUnited Therapeutics Corp | 2.36% | 1.16% | 1.20% |
| JAZZJazz Pharmaceuticals Plc. | 1.97% | 1.36% | 0.61% |
| THCTenet Healthcare Corp Common Stock Usd 0.05 | 1.97% | 1.28% | 0.69% |
| MCKMckesson Corp. | 2.08% | 1.04% | 1.04% |
| ZMZoom Communications Inc | 2.10% | 0.98% | 1.12% |
| LLYEli Lilly & Co. | 1.96% | 1.07% | 0.89% |
| EXPEExpedia Inc | 2.00% | 0.91% | 1.09% |
| ADBEAdobe Systems | 2.05% | 0.79% | 1.26% |
| REGNRegeneron Pharmaceuticals, Inc. | 1.87% | 0.94% | 0.93% |
| FGXXXFirst American Government Obligations Fund | 0.10% | 1.34% | 1.24% |
You are not choosing between two funds in isolation.
Whichever of SMRI and TAX 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, SMRI or TAX?
SMRI has an expense ratio of 0.71% while TAX charges 0.54%. TAX is the cheaper option, by $17 a year on a $10,000 investment.
Which performed better, SMRI or TAX?
Over the past year SMRI returned +36.86% vs +8.84% for TAX, so SMRI leads on 1-year performance. Over the longest common window we track (2 years), SMRI annualized +27.01% vs +12.67% for TAX. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SMRI or TAX?
SMRI has been the more volatile fund at 15.9% annualized versus 12.8% for TAX. Worst drawdown: SMRI -16.7% vs TAX -18.9%.
Should I hold both SMRI and TAX?
SMRI and TAX have a monthly-return correlation of 0.47, 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 SMRI and TAX?
18.5% of SMRI's money is in holdings TAX also owns. 10.9% of TAX's is in holdings SMRI also owns. They hold 10 positions in common, counted across the 51 positions we hold weights for in SMRI and 98 in TAX.
Which pays a higher dividend, SMRI or TAX?
SMRI yields 1.50% while TAX yields 0.32%, so SMRI currently pays the higher dividend yield.
Is TAX better than SMRI?
TAX has a lower expense ratio. SMRI led over 1Y and the full window. TAX is less concentrated, with 17.5% of the fund in its ten largest positions against 21.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.