EVNTvsMSSMETF Comparison
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AltShares Event-Driven ETF (EVNT) belongs to the Alternatives segment. Morgan Stanley Pathway Small-Mid Cap Equity ETF (MSSM) is part of the US Multi-Factor segment. EVNT's top 3 sector exposures are Healthcare, Technology and Consumer Services. In contrast, MSSM's top sector exposures are Finance, Technology and Healthcare. EVNT is more expensive with a Total Expense Ratio (TER) of 1.33%, versus 0.89% for MSSM. EVNT is up 5.98% year-to-date (YTD) with +$3M in YTD flows. MSSM performs better with 16.67% YTD performance, and -$85M in YTD flows. Run a side-by-side ETF comparison of EVNT and MSSM below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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EVNT vs MSSM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/01/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | EVNT MSSM | -0.41%-1.98% | +2.78%-0.35% | +5.98%+16.67% | +8.81%+22.60% | +32.75%n/a | n/an/a |
| Flows | EVNT MSSM | -$3K- | +$484K-$44M | +$3M-$85M | +$6M-$85M | +$9M- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | EVNT MSSM | +4.54%+16.21% | +4.39%+17.52% | +6.29%n/a | n/an/a |
| Max drawdown | EVNT MSSM | -1.14%-5.16% | -1.77%-9.62% | -5.41%n/a | n/an/a |
| Max drawdown duration | EVNT MSSM | 29d44d | 19d46d | 196dn/a | n/an/a |
Trading data
EVNT | MSSM | |
Last sale 9/2/2026 at 1:30 PM | $12.27 | $59.49 |
| Previous close 09/01/2026 | $12.24 | $58.94 |
| Consolidated volume 09/01/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/2/2026 at 1:30 PM
Live
Closed
EVNT | MSSM | |
|---|---|---|
| Last price | $12.27 | $59.49 |
| 1D performance | +0.20% | +0.94% |
| AuM | $13.07 M | $704.80 M |
| E/R | 1.33% | 0.89% |
Characteristics
EVNT | MSSM | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | AltShares | Morgan Stanley |
| Benchmark | - | - |
| N° of holdings | 60 | 1778 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 20, 2021 | December 9, 2024 |
| ESG | No | No |
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Exposure
Countries
EVNT
USA
87.26%
Other
12.74%
MSSM
USA
90.09%
Other
9.91%
Sectors
EVNT
Healthcare
21.99%
Technology
15.03%
Consumer Services
14.48%
Finance
9.66%
Industrials
9.62%
Other
29.21%
MSSM
Finance
21.05%
Technology
14.86%
Healthcare
14.65%
Industrials
13.69%
Other
35.76%
Diversification
EVNT
Total weight of top 15 holdings out of 15
48.4%
MSSM
Total weight of top 15 holdings out of 15
9.05%
Top 15 holdings
Data as of July 31, 2026
EVNT
Warner Bros. Discovery, Inc.
5.03%
LiveRamp Holdings, Inc.
4.52%
Norfolk Southern Corp.
4.43%
DigitalBridge Group, Inc.
4.42%
TXNM Energy, Inc.
4.12%
Electronic Arts, Inc.
3.83%
Caesars Entertainment, Inc.
3.60%
Bio-Techne Corp.
2.87%
Penumbra, Inc.
2.53%
Arcosa, Inc.
2.31%
AstroNova, Inc.
2.30%
Element Solutions, Inc.
2.24%
Organon & Co.
2.15%
UTZ Brands, Inc.
2.05%
Forte Biosciences, Inc.
1.99%
MSSM
TechnipFMC plc
0.83%
Ascendis Pharma A/S
0.83%
ViaSat, Inc.
0.76%
Dynatrace, Inc.
0.66%
FTAI Aviation Ltd.
0.65%
KBR, Inc.
0.62%
Regal Rexnord Corp.
0.61%
Veeco Instruments, Inc.
0.58%
Sprouts Farmers Market, Inc.
0.54%
Plexus Corp.
0.51%
Life Time Group Holdings, Inc.
0.50%
Wintrust Financial Corp.
0.50%
Resideo Technologies, Inc.
0.49%
IMAX Corp.
0.49%
Texas Capital Bancshares, Inc.
0.49%
Frequently asked questions about EVNT and MSSM
How have the EVNT and MSSM ETFs performed in 2026?
As of September 1, 2026, EVNT is up 5.98% year-to-date (YTD), while MSSM has returned 16.67%. That puts MSSM better performer ahead so far this year.
Which ETF is attracting more investor money: EVNT or MSSM?
Year-to-date, the EVNT ETF saw +$3M in flows, compared to -$85M for MSSM.
Which ETF is more volatile: EVNT or MSSM?
Over the past year, EVNT had a volatility of 4.39%, while MSSM experienced 17.52%.
Which ETF is bigger: EVNT or MSSM?
As of September 1, 2026, EVNT holds $13.07 M in assets under management (AUM), while MSSM manages $704.80 M.
What sectors do the EVNT and MSSM ETFs invest in?
EVNT leans toward sectors like Healthcare, Technology and Consumer Services. Meanwhile, MSSM focuses on Finance, Technology and Healthcare.
What are the top holdings of the EVNT ETF and MSSM ETF?
EVNT top holdings include Warner Bros. Discovery, Inc., LiveRamp Holdings, Inc. and Norfolk Southern Corp.. MSSM holds in its top three: TechnipFMC plc, Ascendis Pharma A/S and ViaSat, Inc..
Which ETF is more diversified: EVNT or MSSM?
EVNT holds 60 securities with 48.4% of its assets in the top 15. MSSM has 1814 securities and a top 15 weight of 9.05%.
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