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 15.88% year-to-date (YTD) with -$82M in YTD flows. SMLF performs worse with 15.75% YTD performance, and +$856M 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 09/11/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MSSM SMLF | -4.31%-3.99% | -1.83%-0.02% | +15.88%+15.75% | +18.51%+15.99% | n/a+66.46% | n/a+67.26% |
| Flows | MSSM SMLF | +$3M+$40M | -$18M+$198M | -$82M+$856M | -$82M+$1.40B | -+$2.49B | -+$2.25B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MSSM SMLF | +13.81%+14.22% | +17.48%+17.35% | n/a+19.90% | n/a+21.15% |
| Max drawdown | MSSM SMLF | -6.17%-5.84% | -9.62%-8.74% | n/a-26.10% | n/a-26.10% |
| Max drawdown duration | MSSM SMLF | 26d26d | 46d81d | n/a266d | n/a266d |
Trading data
MSSM | SMLF | |
Last sale 9/11/2026 at 1:30 PM | $58.61 | $86.12 |
| Previous close 09/10/2026 | $58.18 | $85.32 |
| Consolidated volume 09/10/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 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 9/11/2026 at 1:30 PM
Live
Closed
MSSM | SMLF | |
|---|---|---|
| Last price | $58.61 | $86.12 |
| 1D performance | +0.73% | +0.94% |
| AuM | $702.98 M | $4.16 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 | 1801 | 890 |
| 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
90.63%
Other
9.37%
SMLF
USA
93.28%
Other
6.72%
Sectors
MSSM
Finance
21.3%
Technology
15.21%
Healthcare
14.69%
Industrials
13.77%
Other
35.02%
SMLF
Finance
21.93%
Technology
17.24%
Healthcare
14.67%
Industrials
13.83%
Non-Energy Materi.
7.45%
Consumer Cyclical.
7.14%
Other
17.75%
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Diversification
MSSM
Total weight of top 15 holdings out of 15
9.05%
SMLF
Total weight of top 15 holdings out of 15
10.16%
Top 15 holdings
Data as of July 31, 2026
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%
SMLF
EMCOR Group, Inc.
0.95%
Interactive Brokers Group, Inc.
0.86%
BlackRock Cash Funds - Treasury
0.83%
Flex Ltd.
0.77%
nVent Electric Plc
0.75%
Jabil, Inc.
0.74%
Astera Labs, Inc.
0.67%
Tapestry, Inc.
0.66%
Natera, Inc.
0.62%
Williams-Sonoma, Inc.
0.62%
Mueller Industries, Inc.
0.59%
Reliance, Inc.
0.55%
Popular, Inc.
0.54%
Tenet Healthcare Corp.
0.51%
Credo Technology Group Holding Ltd.
0.50%
Frequently asked questions about MSSM and SMLF
How have the MSSM and SMLF ETFs performed in 2026?
As of September 11, 2026, MSSM is up 15.88% year-to-date (YTD), while SMLF has returned 15.75%. That puts MSSM better performer ahead so far this year.
Which ETF is attracting more investor money: MSSM or SMLF?
Year-to-date, the MSSM ETF saw -$82M in flows, compared to +$856M for SMLF.
Which ETF is more volatile: MSSM or SMLF?
Over the past year, MSSM had a volatility of 17.48%, while SMLF experienced 17.35%.
Which ETF is bigger: MSSM or SMLF?
As of September 11, 2026, MSSM holds $702.98 M in assets under management (AUM), while SMLF manages $4.16 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 TechnipFMC plc, Ascendis Pharma A/S and ViaSat, Inc.. SMLF holds in its top three: EMCOR Group, Inc., Interactive Brokers Group, Inc. and BlackRock Cash Funds - Treasury.
Which ETF is more diversified: MSSM or SMLF?
MSSM holds 1814 securities with 9.05% of its assets in the top 15. SMLF has 891 securities and a top 15 weight of 10.16%.
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