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Is ProShares S&P SmallCap 600 Dividend Aristocrats ETF (SMDV) a Strong ETF Right Now?
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A smart beta exchange traded fund, the ProShares S&P SmallCap 600 Dividend Aristocrats ETF (SMDV - Free Report) debuted on 02/03/2015, and offers broad exposure to the Style Box - Small Cap Value category of the market.
What Are Smart Beta ETFs?
The ETF industry has traditionally been dominated by products based on market capitalization weighted indexes that are designed to represent the market or a particular segment of the market.
Market cap weighted indexes work great for investors who believe in market efficiency. They provide a low-cost, convenient and transparent way of replicating market returns.
But, there are some investors who would rather invest in smart beta funds; these funds track non-cap weighted strategies, and are a strong option for those who prefer choosing great stocks in order to beat the market.
These indexes attempt to select stocks that have better chances of risk-return performance, based on certain fundamental characteristics or a combination of such characteristics.
This area offers many different investment choices, such as simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies; however, not all of these strategies can deliver superior results.
Fund Sponsor & Index
The fund is managed by Proshares, and has been able to amass over $679.69 million, which makes it one of the average sized ETFs in the Style Box - Small Cap Value. SMDV, before fees and expenses, seeks to match the performance of the Russell 2000 Dividend Growth Index.
The S&P SmallCap 600 Dividend Aristocrats Index measures the performance of companies in the S&P SmallCap 600 Index that have increased dividends every year for at least 10 consecutive years.
Cost & Other Expenses
When considering an ETF's total return, expense ratios are an important factor. And, cheaper funds can significantly outperform their more expensive cousins in the long term if all other factors remain equal.
Operating expenses on an annual basis are 0.40% for SMDV, making it on par with most peer products in the space.
It has a 12-month trailing dividend yield of 2.32%.
Sector Exposure and Top Holdings
While ETFs offer diversified exposure, which minimizes single stock risk, a deep look into a fund's holdings is a valuable exercise. And, most ETFs are very transparent products that disclose their holdings on a daily basis.
SMDV's heaviest allocation is in the Financials sector, which is about 28.9% of the portfolio. Its Industrials and Utilities round out the top three.
When you look at individual holdings, Marketaxesholdinginc (MKTX) accounts for about 2.18% of the fund's total assets, followed by Perrigcplc (PRGO) and Innospeinc (IOSP).
SMDV's top 10 holdings account for about 15.82% of its total assets under management.
Performance and Risk
The ETF has added roughly 15.52% and was up about 17.93% so far this year and in the past one year (as of 11/04/2026), respectively. SMDV has traded between $64.01 and $79.12 during this last 52-week period.
SMDV has a beta of 0.78 and standard deviation of 17.90% for the trailing three-year period, which makes the fund a medium risk choice in the space. With about 71 holdings, it effectively diversifies company-specific risk .
Alternatives
ProShares S&P SmallCap 600 Dividend Aristocrats ETF is an excellent option for investors seeking to outperform the Style Box - Small Cap Value segment of the market. There are other ETFs in the space which investors could consider as well.
iShares Core Dividend Growth ETF (DGRO) tracks Morningstar US Dividend Growth Index and the Vanguard Dividend Appreciation Index Fund ETF Shares (VIG) tracks NASDAQ US Dividend Achievers Select Index. iShares Core Dividend Growth ETF has $45.08 billion in assets, Vanguard Dividend Appreciation Index Fund ETF Shares has $115.71 billion. DGRO has an expense ratio of 0.08% and VIG changes 0.04%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - Small Cap Value
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
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Is ProShares S&P SmallCap 600 Dividend Aristocrats ETF (SMDV) a Strong ETF Right Now?
A smart beta exchange traded fund, the ProShares S&P SmallCap 600 Dividend Aristocrats ETF (SMDV - Free Report) debuted on 02/03/2015, and offers broad exposure to the Style Box - Small Cap Value category of the market.
What Are Smart Beta ETFs?
The ETF industry has traditionally been dominated by products based on market capitalization weighted indexes that are designed to represent the market or a particular segment of the market.
Market cap weighted indexes work great for investors who believe in market efficiency. They provide a low-cost, convenient and transparent way of replicating market returns.
But, there are some investors who would rather invest in smart beta funds; these funds track non-cap weighted strategies, and are a strong option for those who prefer choosing great stocks in order to beat the market.
These indexes attempt to select stocks that have better chances of risk-return performance, based on certain fundamental characteristics or a combination of such characteristics.
This area offers many different investment choices, such as simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies; however, not all of these strategies can deliver superior results.
Fund Sponsor & Index
The fund is managed by Proshares, and has been able to amass over $679.69 million, which makes it one of the average sized ETFs in the Style Box - Small Cap Value. SMDV, before fees and expenses, seeks to match the performance of the Russell 2000 Dividend Growth Index.
The S&P SmallCap 600 Dividend Aristocrats Index measures the performance of companies in the S&P SmallCap 600 Index that have increased dividends every year for at least 10 consecutive years.
Cost & Other Expenses
When considering an ETF's total return, expense ratios are an important factor. And, cheaper funds can significantly outperform their more expensive cousins in the long term if all other factors remain equal.
Operating expenses on an annual basis are 0.40% for SMDV, making it on par with most peer products in the space.
It has a 12-month trailing dividend yield of 2.32%.
Sector Exposure and Top Holdings
While ETFs offer diversified exposure, which minimizes single stock risk, a deep look into a fund's holdings is a valuable exercise. And, most ETFs are very transparent products that disclose their holdings on a daily basis.
SMDV's heaviest allocation is in the Financials sector, which is about 28.9% of the portfolio. Its Industrials and Utilities round out the top three.
When you look at individual holdings, Marketaxesholdinginc (MKTX) accounts for about 2.18% of the fund's total assets, followed by Perrigcplc (PRGO) and Innospeinc (IOSP).
SMDV's top 10 holdings account for about 15.82% of its total assets under management.
Performance and Risk
The ETF has added roughly 15.52% and was up about 17.93% so far this year and in the past one year (as of 11/04/2026), respectively. SMDV has traded between $64.01 and $79.12 during this last 52-week period.
SMDV has a beta of 0.78 and standard deviation of 17.90% for the trailing three-year period, which makes the fund a medium risk choice in the space. With about 71 holdings, it effectively diversifies company-specific risk .
Alternatives
ProShares S&P SmallCap 600 Dividend Aristocrats ETF is an excellent option for investors seeking to outperform the Style Box - Small Cap Value segment of the market. There are other ETFs in the space which investors could consider as well.
iShares Core Dividend Growth ETF (DGRO) tracks Morningstar US Dividend Growth Index and the Vanguard Dividend Appreciation Index Fund ETF Shares (VIG) tracks NASDAQ US Dividend Achievers Select Index. iShares Core Dividend Growth ETF has $45.08 billion in assets, Vanguard Dividend Appreciation Index Fund ETF Shares has $115.71 billion. DGRO has an expense ratio of 0.08% and VIG changes 0.04%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - Small Cap Value
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.