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MSSMvsESMLETF Comparison

ETF 1

MSSM

Morgan Stanley Pathway Small-Mid Cap Equity ETF

This fund is part of

US Multi-Factor

-1.16%

Full MSSM fund page

VS

ETF 2

ESML

iShares ESG Aware MSCI USA Small-Cap ETF

This fund is part of

US Small Cap

-1.45%

Full ESML fund page

Morgan Stanley Pathway Small-Mid Cap Equity ETF (MSSM) belongs to the US Multi-Factor segment. iShares ESG Aware MSCI USA Small-Cap ETF (ESML) is part of the US Small Cap segment. MSSM's top 3 sector exposures are Technology, Finance and Industrials. In contrast, ESML's top sector exposures are Finance, Technology and Industrials. MSSM is more expensive with a Total Expense Ratio (TER) of 0.89%, versus 0.17% for ESML. MSSM is up 18.32% year-to-date (YTD) with -$85M in YTD flows. ESML performs worse with 15.86% YTD performance, and +$412M in YTD flows. Run a side-by-side ETF comparison of MSSM and ESML 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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MSSM vs ESML performance and flow charts

Performance

Cumulative Flows

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Data Services

Historic performance and flows

Data as of 07/28/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	MSSM ESML	-2.28%-4.40%	+6.57%+5.32%	+18.32%+15.86%	+27.56%+25.80%	n/a+47.11%	n/a+42.23%
Flows	MSSM ESML	-$21M+$11M	-$44M+$383M	-$85M+$412M	-$85M+$412M	-+$656M	-+$1.15B

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	MSSM ESML	+17.45%+16.72%	+17.75%+17.18%	n/a+19.65%	n/a+21.24%
Max drawdown	MSSM ESML	-4.27%-5.29%	-9.62%-9.05%	n/a-26.61%	n/a-28.52%
Max drawdown duration	MSSM ESML	19d29d	46d46d	n/a296d	n/a980d

Trading data

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	MSSM	ESML
Last sale 7/30/2026 at 2:00 PM	$59.08	$53.33
Previous close 07/28/2026	$58.65	$53.05
Consolidated volume 07/28/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of June 30, 2026

1-year trailing difference

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MSSM

is actively managed and doesn’t replicate an index

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	MSSM	ESML
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 7/30/2026 at 2:00 PM

Live

Closed

	MSSM	ESML
Last price	$59.08	$53.33
1D performance	+0.73%	+0.53%
AuM	$714.74 M	$2.78 B
E/R	0.89%	0.17%

Characteristics

	MSSM	ESML
Management strategy	Active	Passive
Provider	Morgan Stanley	iShares
Benchmark	-	MSCI USA Small Cap Extended ESG Focus Index
N° of holdings	2191	904
Asset class	-	Equities
Trailing 12m distribution yield	Join	Join
Inception date	December 9, 2024	April 10, 2018
ESG	No	Yes

More MSSM data on Trackinsight

More ESML data on Trackinsight

Exposure

Countries

MSSM

USA

89.57%

Other

10.43%

ESML

USA

96.57%

Other

3.43%

Sectors

MSSM

Technology

18.78%

Finance

17.88%

Industrials

16.41%

Healthcare

13.7%

Other

33.23%

ESML

Finance

21.07%

Technology

19.21%

Industrials

15.06%

Healthcare

13.51%

Other

31.15%

Diversification

MSSM

Total weight of top 15 holdings out of 15

11.09%

ESML

Total weight of top 15 holdings out of 15

10.18%

Top 15 holdings

Data as of June 30, 2026

MSSM

Sandisk Corp.

1.62%

FTAI Aviation Ltd.

1.00%

Ascendis Pharma A/S

0.95%

Veeco Instruments, Inc.

0.84%

ViaSat, Inc.

0.84%

TechnipFMC plc

0.80%

Plexus Corp.

0.62%

Regal Rexnord Corp.

0.62%

KBR, Inc.

0.60%

Rambus, Inc.

0.55%

MKS, Inc.

0.55%

Ciena Corp.

0.55%

Coherent Corp.

0.54%

Dynatrace, Inc.

0.53%

Bloom Energy Corp.

0.49%

ESML

Sandisk Corp.

4.67%

US Foods Holding Corp.

0.53%

Carpenter Technology Corp.

0.45%

Assurant, Inc.

0.45%

nVent Electric Plc

0.42%

ATI, Inc.

0.41%

Sterling Infrastructure, Inc.

0.39%

BlackRock Cash Funds - Treasury

0.39%

Woodward, Inc.

0.37%

MACOM Technology Solutions Holdings, Inc.

0.37%

MKS, Inc.

0.36%

Moderna, Inc.

0.36%

Ovintiv, Inc.

0.35%

Onto Innovation, Inc.

0.34%

Lattice Semiconductor Corp.

0.32%

Frequently asked questions about MSSM and ESML

How have the MSSM and ESML ETFs performed in 2026?

As of July 28, 2026, MSSM is up 18.32% year-to-date (YTD), while ESML has returned 15.86%. That puts MSSM better performer ahead so far this year.

Which ETF is attracting more investor money: MSSM or ESML?

Year-to-date, the MSSM ETF saw -$85M in flows, compared to +$412M for ESML.

Which ETF is more volatile: MSSM or ESML?

Over the past year, MSSM had a volatility of 17.75%, while ESML experienced 17.18%.

Which ETF is bigger: MSSM or ESML?

As of July 28, 2026, MSSM holds $714.74 M in assets under management (AUM), while ESML manages $2.78 B.

What sectors do the MSSM and ESML ETFs invest in?

MSSM leans toward sectors like Technology, Finance and Industrials. Meanwhile, ESML focuses on Finance, Technology and Industrials.

What are the top holdings of the MSSM ETF and ESML ETF?

MSSM top holdings include Sandisk Corp., FTAI Aviation Ltd. and Ascendis Pharma A/S. ESML holds in its top three: Sandisk Corp., US Foods Holding Corp. and Carpenter Technology Corp..

MSSMvsESMLETF Comparison

Morgan Stanley Pathway Small-Mid Cap Equity ETF

iShares ESG Aware MSCI USA Small-Cap ETF

MSSM vs ESML performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the MSSM and ESML ETFs performed in 2026?

As of July 28, 2026, MSSM is up 18.32% year-to-date (YTD), while ESML has returned 15.86%. That puts MSSM better performer ahead so far this year.

Which ETF is attracting more investor money: MSSM or ESML?

Year-to-date, the MSSM ETF saw -$85M in flows, compared to +$412M for ESML.

Which ETF is more volatile: MSSM or ESML?

Over the past year, MSSM had a volatility of 17.75%, while ESML experienced 17.18%.

Which ETF is bigger: MSSM or ESML?

As of July 28, 2026, MSSM holds $714.74 M in assets under management (AUM), while ESML manages $2.78 B.

What sectors do the MSSM and ESML ETFs invest in?

MSSM leans toward sectors like Technology, Finance and Industrials. Meanwhile, ESML focuses on Finance, Technology and Industrials.

What are the top holdings of the MSSM ETF and ESML ETF?

MSSM top holdings include Sandisk Corp., FTAI Aviation Ltd. and Ascendis Pharma A/S. ESML holds in its top three: Sandisk Corp., US Foods Holding Corp. and Carpenter Technology Corp..

Which ETF is more diversified: MSSM or ESML?

MSSM holds 2215 securities with 11.09% of its assets in the top 15. ESML has 907 securities and a top 15 weight of 10.18%.

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