MSSMvsSMMDETF Comparison
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Morgan Stanley Pathway Small-Mid Cap Equity ETF (MSSM) and iShares Russell 2500 ETF (SMMD) belong to the same industry segment: US Multi-Factor. Both ETFs have the same top 3 sector exposures: Industrials, Information Technology and Financials. MSSM is more expensive with a Total Expense Ratio (TER) of 0.9%, versus 0.23% for SMMD. MSSM is up 12.8% year-to-date (YTD) with -$41M in YTD flows. SMMD performs worse with 12.6% YTD performance, and +$444M in YTD flows. Run a side-by-side ETF comparison of MSSM and SMMD 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 SMMD performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 04/24/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MSSM SMMD | +9.91%+9.85% | +5.26%+5.68% | +12.80%+12.60% | +40.13%+39.90% | n/a+61.08% | n/a+36.84% |
| Flows | MSSM SMMD | -$35M+$107M | -$33M+$550M | -$41M+$444M | -$32M+$1.02B | -+$1.60B | -+$2.07B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MSSM SMMD | +20.29%+20.60% | +17.35%+17.50% | n/a+19.33% | n/a+20.93% |
| Max drawdown | MSSM SMMD | -9.62%-9.48% | -9.62%-9.48% | n/a-25.55% | n/a-28.20% |
| Max drawdown duration | MSSM SMMD | 46d43d | 46d43d | n/a283d | n/a980d |
Trading data
MSSM | SMMD | |
Last sale 4/27/2026 at 1:30 PM | $56.93 | $84.40 |
| Previous close 04/24/2026 | $56.96 | $84.26 |
| Consolidated volume 04/24/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of March 31, 2026
1-year trailing difference
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MSSM
is actively managed and doesn’t replicate an indexMSSM | SMMD | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 4/27/2026 at 1:30 PM
Live
Closed
MSSM | SMMD | |
|---|---|---|
| Last price | $56.93 | $84.40 |
| 1D performance | -0.05% | +0.17% |
| AuM | $724.19 M | $2.96 B |
| E/R | 0.9% | 0.23% |
Characteristics
MSSM | SMMD | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Morgan Stanley | iShares |
| Benchmark | - | Russell 2500 Index |
| N° of holdings | 1902 | 2049 |
| Asset class | - | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 9, 2024 | July 6, 2017 |
| ESG | No | No |
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Exposure
Countries
MSSM
USA
79.68%
Other
20.32%
SMMD
USA
92.04%
Other
7.96%
Sectors
MSSM
Industrials
19.29%
Information Techn.
17.22%
Financials
11.21%
Health Care
9.3%
Consumer Discreti.
7.76%
Other
35.23%
SMMD
Industrials
18.13%
Information Techn.
13.44%
Financials
12.96%
Health Care
11.23%
Consumer Discreti.
9.7%
Other
34.54%
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Diversification
MSSM
Total weight of top 15 holdings out of 15
10.47%
SMMD
Total weight of top 15 holdings out of 15
8.25%
Top 15 holdings
Data as of March 31, 2026
MSSM
COMFORT SYSTEMS USA
1.13%
TECHNIPFMC PLC
1.07%
US04351P1012
1.03%
CIENA
0.86%
VIASAT
0.80%
BLOOM ENERGY CORP
0.73%
ORMAT TECHNOLOGIES
0.59%
PLEXUS
0.57%
RESIDEO TECHNOLOGIES
0.56%
REGAL REXNORD CORP
0.55%
FABRINET
0.54%
TEXAS CAPITAL
0.54%
ITT
0.52%
CALIX NETWORKS
0.51%
PRIMORIS SERVICES
0.48%
SMMD
US80004C2008
1.31%
CIENA
0.79%
LUMENTUM HOLDINGS
0.71%
COMFORT SYSTEMS USA
0.69%
US19247G1076
0.60%
INSMED
0.49%
EMCOR GROUP
0.47%
US7731211089
0.45%
BLOOM ENERGY CORP
0.42%
TAPESTRY INC
0.41%
TECHNIPFMC PLC
0.40%
JABIL CIRCUIT
0.40%
CASEYS GENERAL STORES
0.39%
UTD THERAPEUT
0.36%
CURTISS WRIGHT
0.36%
Frequently asked questions about MSSM and SMMD
How have the MSSM and SMMD ETFs performed in 2026?
As of April 24, 2026, MSSM is up 12.8% year-to-date (YTD), while SMMD has returned 12.6%. That puts MSSM better performer ahead so far this year.
Which ETF is attracting more investor money: MSSM or SMMD?
Year-to-date, the MSSM ETF saw -$41M in flows, compared to +$444M for SMMD.
Which ETF is more volatile: MSSM or SMMD?
Over the past year, MSSM had a volatility of 17.35%, while SMMD experienced 17.5%.
Which ETF is bigger: MSSM or SMMD?
As of April 24, 2026, MSSM holds $724.19 M in assets under management (AUM), while SMMD manages $2.96 B.
What sectors do the MSSM and SMMD ETFs invest in?
MSSM leans toward sectors like Industrials, Information Technology and Financials. Meanwhile, SMMD focuses on Industrials, Information Technology and Financials.
What are the top holdings of the MSSM ETF and SMMD ETF?
MSSM top holdings include COMFORT SYSTEMS USA, TECHNIPFMC PLC and US04351P1012. SMMD holds in its top three: US80004C2008, CIENA and LUMENTUM HOLDINGS.
Which ETF is more diversified: MSSM or SMMD?
MSSM holds 1949 securities with 10.47% of its assets in the top 15. SMMD has 2427 securities and a top 15 weight of 8.25%.
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