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. MSSM's top 3 sector exposures are Technology, Finance and Industrials. In contrast, SMLF's top sector exposures are Finance, Technology and Industrials. MSSM is more expensive with a Total Expense Ratio (TER) of 0.89%, versus 0.15% for SMLF. MSSM is up 18.32% year-to-date (YTD) with -$85M in YTD flows. SMLF performs worse with 16.58% YTD performance, and +$780M 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 07/28/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MSSM SMLF | -2.28%-2.03% | +6.57%+6.98% | +18.32%+16.58% | +27.56%+24.67% | n/a+60.11% | n/a+71.48% |
| Flows | MSSM SMLF | -$21M+$52M | -$44M+$299M | -$85M+$780M | -$85M+$1.53B | -+$2.41B | -+$2.20B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MSSM SMLF | +17.45%+16.40% | +17.75%+17.45% | n/a+19.85% | n/a+21.12% |
| Max drawdown | MSSM SMLF | -4.27%-4.58% | -9.62%-8.74% | n/a-26.10% | n/a-26.10% |
| Max drawdown duration | MSSM SMLF | 19d16d | 46d81d | n/a266d | n/a266d |
Trading data
MSSM | SMLF | |
Last sale 7/28/2026 at 1:30 PM | $59.81 | $86.74 |
| Previous close 07/27/2026 | $59.72 | $86.59 |
| Consolidated volume 07/27/2026 | ||
| 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 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 7/28/2026 at 1:30 PM
Live
Closed
MSSM | SMLF | |
|---|---|---|
| Last price | $59.81 | $86.74 |
| 1D performance | +0.14% | +0.17% |
| AuM | $714.74 M | $4.12 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 | 2191 | 891 |
| 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
89.57%
Other
10.43%
SMLF
USA
92.66%
Other
7.34%
Sectors
MSSM
Technology
18.78%
Finance
17.88%
Industrials
16.41%
Healthcare
13.7%
Other
33.23%
SMLF
Finance
20.52%
Technology
18.76%
Industrials
14.76%
Healthcare
14.33%
Non-Energy Materi.
7.11%
Other
24.53%
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Diversification
MSSM
Total weight of top 15 holdings out of 15
11.09%
SMLF
Total weight of top 15 holdings out of 15
11.04%
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%
SMLF
Flex Ltd.
1.07%
Astera Labs, Inc.
1.05%
EMCOR Group, Inc.
0.95%
Jabil, Inc.
0.88%
BlackRock Cash Funds - Treasury
0.88%
nVent Electric Plc
0.85%
Interactive Brokers Group, Inc.
0.79%
Credo Technology Group Holding Ltd.
0.64%
Sterling Infrastructure, Inc.
0.61%
Tapestry, Inc.
0.61%
Natera, Inc.
0.60%
Williams-Sonoma, Inc.
0.59%
Mueller Industries, Inc.
0.52%
Reliance, Inc.
0.50%
Carpenter Technology Corp.
0.49%
Frequently asked questions about MSSM and SMLF
How have the MSSM and SMLF ETFs performed in 2026?
As of July 28, 2026, MSSM is up 18.32% year-to-date (YTD), while SMLF has returned 16.58%. 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 -$85M in flows, compared to +$780M for SMLF.
Which ETF is more volatile: MSSM or SMLF?
Over the past year, MSSM had a volatility of 17.75%, while SMLF experienced 17.45%.
Which ETF is bigger: MSSM or SMLF?
As of July 28, 2026, MSSM holds $714.74 M in assets under management (AUM), while SMLF manages $4.12 B.
What sectors do the MSSM and SMLF ETFs invest in?
MSSM leans toward sectors like Technology, Finance and Industrials. Meanwhile, SMLF focuses on Finance, Technology and Industrials.
What are the top holdings of the MSSM ETF and SMLF ETF?
MSSM top holdings include Sandisk Corp., FTAI Aviation Ltd. and Ascendis Pharma A/S. SMLF holds in its top three: Flex Ltd., Astera Labs, Inc. and EMCOR Group, Inc..
Which ETF is more diversified: MSSM or SMLF?
MSSM holds 2215 securities with 11.09% of its assets in the top 15. SMLF has 898 securities and a top 15 weight of 11.04%.
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