MSSMvsSMLFETF Comparison
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Morgan Stanley Pathway Small-Mid Cap Equity ETF (MSSM) and iShares U.S. Small-Cap Equity Factor ETF (SMLF) belong to the same industry segment: US Multi-Factor. Both ETFs have the same top 3 sector exposures: Finance, Technology and Healthcare. MSSM is more expensive with a Total Expense Ratio (TER) of 0.89%, versus 0.15% for SMLF. MSSM is up 13.53% year-to-date (YTD) with -$79M in YTD flows. SMLF performs better with 14.15% YTD performance, and +$936M in YTD flows. Run a side-by-side ETF comparison of MSSM and SMLF 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 SMLF performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/26/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MSSM SMLF | +0.67%+0.78% | -3.88%-1.84% | +13.53%+14.15% | +13.11%+12.94% | n/a+81.23% | n/a+60.86% |
| Flows | MSSM SMLF | -+$76M | +$6M+$156M | -$79M+$936M | -$64M+$1.19B | -+$2.58B | -+$2.32B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MSSM SMLF | +13.25%+14.13% | +17.00%+16.86% | n/a+19.70% | n/a+21.08% |
| Max drawdown | MSSM SMLF | -9.43%-7.76% | -9.62%-8.74% | n/a-26.10% | n/a-26.10% |
| Max drawdown duration | MSSM SMLF | 71d71d | 46d81d | n/a266d | n/a266d |
Trading data
MSSM | SMLF | |
Last sale 10/27/2026 at 1:30 PM | $57.97 | $85.39 |
| Previous close 10/26/2026 | $57.40 | $84.78 |
| Consolidated volume 10/26/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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MSSM
is actively managed and doesn’t replicate an indexMSSM | SMLF | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/27/2026 at 1:30 PM
Live
Closed
MSSM | SMLF | |
|---|---|---|
| Last price | $57.97 | $85.39 |
| 1D performance | +1.00% | +0.72% |
| AuM | $691.54 M | $4.18 B |
| E/R | 0.89% | 0.15% |
Characteristics
MSSM | SMLF | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Morgan Stanley | iShares |
| Benchmark | - | STOXX U.S. Small-Cap Equity Factor USD Gross Return |
| N° of holdings | 1802 | 886 |
| Asset class | - | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 9, 2024 | April 28, 2015 |
| ESG | No | No |
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Exposure
Countries
MSSM
USA
90.5%
Other
9.5%
SMLF
USA
93.32%
Other
6.68%
Sectors
MSSM
Finance
20.95%
Technology
15.86%
Healthcare
15.63%
Industrials
13.05%
Other
34.51%
SMLF
Finance
21.47%
Technology
17.91%
Healthcare
15.37%
Industrials
13.11%
Non-Energy Materi.
7.54%
Other
24.59%
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Diversification
MSSM
Total weight of top 15 holdings out of 15
8.68%
SMLF
Total weight of top 15 holdings out of 15
10.5%
Top 15 holdings
Data as of August 31, 2026
MSSM
Ascendis Pharma A/S
0.89%
Dynatrace, Inc.
0.82%
TechnipFMC plc
0.67%
ViaSat, Inc.
0.63%
KBR, Inc.
0.63%
Regal Rexnord Corp.
0.53%
Avient Corp.
0.52%
IMAX Corp.
0.52%
Sprouts Farmers Market, Inc.
0.52%
Veeco Instruments, Inc.
0.51%
Brinker International, Inc.
0.50%
Plexus Corp.
0.50%
Haemonetics Corp.
0.49%
Life Time Group Holdings, Inc.
0.49%
Texas Capital Bancshares, Inc.
0.47%
SMLF
Moderna, Inc.
0.92%
BlackRock Cash Funds - Treasury
0.91%
Interactive Brokers Group, Inc.
0.91%
EMCOR Group, Inc.
0.86%
nVent Electric Plc
0.78%
Flex Ltd.
0.74%
Natera, Inc.
0.73%
Jabil, Inc.
0.72%
Astera Labs, Inc.
0.66%
Williams-Sonoma, Inc.
0.60%
Credo Technology Group Holding Ltd.
0.55%
Mueller Industries, Inc.
0.54%
Tenet Healthcare Corp.
0.53%
Tapestry, Inc.
0.53%
Reliance, Inc.
0.52%
Frequently asked questions about MSSM and SMLF
How have the MSSM and SMLF ETFs performed in 2026?
As of October 26, 2026, MSSM is up 13.53% year-to-date (YTD), while SMLF has returned 14.15%. That puts SMLF better performer ahead so far this year.
Which ETF is attracting more investor money: MSSM or SMLF?
Year-to-date, the MSSM ETF saw -$79M in flows, compared to +$936M for SMLF.
Which ETF is more volatile: MSSM or SMLF?
Over the past year, MSSM had a volatility of 17%, while SMLF experienced 16.86%.
Which ETF is bigger: MSSM or SMLF?
As of October 26, 2026, MSSM holds $691.54 M in assets under management (AUM), while SMLF manages $4.18 B.
What sectors do the MSSM and SMLF ETFs invest in?
MSSM leans toward sectors like Finance, Technology and Healthcare. Meanwhile, SMLF focuses on Finance, Technology and Healthcare.
What are the top holdings of the MSSM ETF and SMLF ETF?
MSSM top holdings include Ascendis Pharma A/S, Dynatrace, Inc. and TechnipFMC plc. SMLF holds in its top three: Moderna, Inc., BlackRock Cash Funds - Treasury and Interactive Brokers Group, Inc..
Which ETF is more diversified: MSSM or SMLF?
MSSM holds 1815 securities with 8.68% of its assets in the top 15. SMLF has 887 securities and a top 15 weight of 10.5%.
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