SMLFvsMSSMETF Comparison
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iShares U.S. Small-Cap Equity Factor ETF (SMLF) and Morgan Stanley Pathway Small-Mid Cap Equity ETF (MSSM) belong to the same industry segment: US Multi-Factor. Both ETFs have the same top 3 sector exposures: Industrials, Information Technology and Financials. SMLF is less expensive with a Total Expense Ratio (TER) of 0.15%, versus 0.89% for MSSM. SMLF is up 15.15% year-to-date (YTD) with +$706M in YTD flows. MSSM performs better with 17.81% YTD performance, and -$64M in YTD flows. Run a side-by-side ETF comparison of SMLF and MSSM 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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SMLF vs MSSM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 06/17/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | SMLF MSSM | +5.13%+5.13% | +13.44%+14.35% | +15.15%+17.81% | +32.36%+35.87% | +68.82%n/a | +70.96%n/a |
| Flows | SMLF MSSM | +$163M-$23M | +$284M-$56M | +$706M-$64M | +$1.54B-$67M | +$2.24B- | +$2.14B- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SMLF MSSM | +19.66%+21.04% | +17.54%+17.77% | +19.90%n/a | +21.25%n/a |
| Max drawdown | SMLF MSSM | -4.58%-4.91% | -8.74%-9.62% | -26.10%n/a | -26.10%n/a |
| Max drawdown duration | SMLF MSSM | 16d8d | 81d46d | 266dn/a | 266dn/a |
Trading data
SMLF | MSSM | |
Last sale 6/18/2026 at 1:48 PM | $86.59 | $59.56 |
| Previous close 06/17/2026 | $86.62 | $60.13 |
| Consolidated volume 06/17/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of May 29, 2026
1-year trailing difference
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MSSM
is actively managed and doesn’t replicate an indexSMLF | MSSM | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 6/18/2026 at 1:48 PM
Live
Closed
SMLF | MSSM | |
|---|---|---|
| Last price | $86.59 | $59.56 |
| 1D performance | -0.03% | -0.94% |
| AuM | $4.00 B | $732.54 M |
| E/R | 0.15% | 0.89% |
Characteristics
SMLF | MSSM | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | iShares | Morgan Stanley |
| Benchmark | STOXX U.S. Small-Cap Equity Factor USD Gross Return | - |
| N° of holdings | 787 | 1888 |
| Asset class | Equities | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | April 28, 2015 | December 9, 2024 |
| ESG | No | No |
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Exposure
Countries
SMLF
USA
90.33%
Other
9.67%
MSSM
USA
79.85%
Other
20.15%
Sectors
SMLF
Industrials
17.08%
Information Techn.
14.57%
Financials
14.28%
Health Care
11.57%
Consumer Discreti.
11.07%
Other
31.42%
MSSM
Industrials
19.56%
Information Techn.
18.15%
Financials
11.1%
Health Care
9.04%
Consumer Discreti.
7.76%
Other
34.39%
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Diversification
SMLF
Total weight of top 15 holdings out of 15
10.31%
MSSM
Total weight of top 15 holdings out of 15
11.32%
Top 15 holdings
Data as of April 30, 2026
SMLF
EMCOR GROUP
1.34%
JABIL CIRCUIT
0.88%
NVENT ELECTRIC PLC
0.85%
INTERACTIVE BROKERS GROUP
0.78%
US0669224778
0.71%
MUELLER INDUSTRIES
0.70%
STERLING INFRASTRUCTURE INC
0.69%
FLEX LTD
0.69%
TAPESTRY INC
0.67%
RELIANCE STEEL
0.52%
UTD THERAPEUT
0.51%
WILLIAMS SONOMA
0.50%
ARGAN
0.50%
NATERA
0.50%
POPULAR
0.48%
MSSM
COMFORT SYSTEMS USA
1.29%
BLOOM ENERGY CORP
1.10%
TECHNIPFMC PLC
1.00%
CIENA
0.94%
US04351P1012
0.92%
VIASAT
0.76%
CREDO TECHNOLOGY GROUP HOLDING
0.70%
RESIDEO TECHNOLOGIES
0.62%
PLEXUS
0.61%
RAMBUS
0.61%
VEECO INSTRUMENTS
0.59%
REGAL REXNORD CORP
0.56%
ORMAT TECHNOLOGIES
0.55%
FABRINET
0.54%
ITT
0.53%
Frequently asked questions about SMLF and MSSM
How have the SMLF and MSSM ETFs performed in 2026?
As of June 17, 2026, SMLF is up 15.15% year-to-date (YTD), while MSSM has returned 17.81%. That puts MSSM better performer ahead so far this year.
Which ETF is attracting more investor money: SMLF or MSSM?
Year-to-date, the SMLF ETF saw +$706M in flows, compared to -$64M for MSSM.
Which ETF is more volatile: SMLF or MSSM?
Over the past year, SMLF had a volatility of 17.54%, while MSSM experienced 17.77%.
Which ETF is bigger: SMLF or MSSM?
As of June 17, 2026, SMLF holds $4.00 B in assets under management (AUM), while MSSM manages $732.54 M.
What sectors do the SMLF and MSSM ETFs invest in?
SMLF leans toward sectors like Industrials, Information Technology and Financials. Meanwhile, MSSM focuses on Industrials, Information Technology and Financials.
What are the top holdings of the SMLF ETF and MSSM ETF?
SMLF top holdings include EMCOR GROUP, JABIL CIRCUIT and NVENT ELECTRIC PLC. MSSM holds in its top three: COMFORT SYSTEMS USA, BLOOM ENERGY CORP and TECHNIPFMC PLC.
Which ETF is more diversified: SMLF or MSSM?
SMLF holds 887 securities with 10.31% of its assets in the top 15. MSSM has 1932 securities and a top 15 weight of 11.32%.
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