SPSMvsRFLRETF Comparison
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State Street SPDR Portfolio S&P 600 Small Cap ETF (SPSM) belongs to the US Small Cap segment. Innovator U.S. Small Cap Managed Floor ETF (RFLR) is part of the Options Strategies segment. SPSM's top 3 sector exposures are Industrials, Financials and Information Technology. In contrast, RFLR's top sector exposures are Financials, Health Care and Industrials. SPSM is less expensive with a Total Expense Ratio (TER) of 0.03%, versus 0.89% for RFLR. SPSM is up 13.7% year-to-date (YTD) with +$411M in YTD flows. RFLR performs worse with 5.99% YTD performance, and +$31M in YTD flows. Run a side-by-side ETF comparison of SPSM and RFLR 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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SPSM vs RFLR performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 04/27/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | SPSM RFLR | +12.10%+5.08% | +7.08%+1.96% | +13.70%+5.99% | +38.05%+27.45% | +53.94%n/a | +32.49%n/a |
| Flows | SPSM RFLR | -$6M+$10M | +$169M+$21M | +$411M+$31M | +$941M+$50M | +$5.99B- | +$8.00B- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SPSM RFLR | +17.91%+13.59% | +18.15%+12.47% | +20.58%n/a | +21.54%n/a |
| Max drawdown | SPSM RFLR | -8.68%-5.60% | -8.68%-5.65% | -27.91%n/a | -27.91%n/a |
| Max drawdown duration | SPSM RFLR | 59d48d | 59d43d | 380dn/a | 380dn/a |
Trading data
SPSM | RFLR | |
Last sale 4/28/2026 at 4:13 PM | $52.83 | $30.15 |
| Previous close 04/27/2026 | $53.10 | $30.00 |
| Consolidated volume 04/27/2026 | ||
| 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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RFLR
is actively managed and doesn’t replicate an indexSPSM | RFLR | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 4/28/2026 at 4:13 PM
Live
Closed
SPSM | RFLR | |
|---|---|---|
| Last price | $52.83 | $30.15 |
| 1D performance | -0.52% | +0.49% |
| AuM | $15.25 B | $75.26 M |
| E/R | 0.03% | 0.89% |
Characteristics
SPSM | RFLR | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | State Street Investment Management | Innovator |
| Benchmark | S&P SmallCap 600 Index | - |
| N° of holdings | 559 | 743 |
| Asset class | Equities | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | July 8, 2013 | September 16, 2024 |
| ESG | No | No |
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Exposure
Countries
SPSM
USA
95.92%
Other
4.08%
RFLR
USA
88.81%
Other
11.19%
Sectors
SPSM
Industrials
16.29%
Financials
15.89%
Information Techn.
13.19%
Consumer Discreti.
13.16%
Health Care
10.13%
Other
31.34%
RFLR
Financials
14.94%
Health Care
13.65%
Industrials
13.11%
Information Techn.
12.63%
Consumer Discreti.
9.27%
Other
36.4%
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Diversification
SPSM
Total weight of top 15 holdings out of 15
7.33%
RFLR
Total weight of top 15 holdings out of 15
4.68%
Top 15 holdings
Data as of March 31, 2026
SPSM
EASTMAN CHEMICAL
0.57%
ELEMENT SOLUTIONS INC
0.51%
PRIMORIS SERVICES
0.51%
VIAVI SOLUTIONS INC
0.50%
ARGAN
0.49%
FORMFACTOR
0.49%
LKQ
0.49%
JACKSON FINANCIAL INC
0.49%
ESCO TECHNOLOGIES
0.48%
MATCH GROUP
0.47%
CELANESE SR
0.47%
SEMTECH
0.47%
ARMSTRONG WORLD INDUSTRIES
0.46%
SANMINA CORP
0.46%
SM ENERGY
0.46%
RFLR
SM ENERGY
0.47%
US92333F1012
0.36%
PAR PACIFIC HOLDINGS INC
0.33%
TERNS PHARMACEUTICALS
0.33%
SILICON LABS
0.32%
PBF ENERGY INC (ORDINARY)
0.32%
SPIRE INC
0.30%
PLANET LABS PBC
0.30%
CNX RESOURCES CORP
0.30%
VIAVI SOLUTIONS INC
0.29%
ENERSYS
0.28%
WORKIVA INC
0.27%
CELCUITY INC
0.27%
COMMVAULT SYSTEMS
0.27%
ROBERT HALF
0.27%
Frequently asked questions about SPSM and RFLR
How have the SPSM and RFLR ETFs performed in 2026?
As of April 27, 2026, SPSM is up 13.7% year-to-date (YTD), while RFLR has returned 5.99%. That puts SPSM better performer ahead so far this year.
Which ETF is attracting more investor money: SPSM or RFLR?
Year-to-date, the SPSM ETF saw +$411M in flows, compared to +$31M for RFLR.
Which ETF is more volatile: SPSM or RFLR?
Over the past year, SPSM had a volatility of 18.15%, while RFLR experienced 12.47%.
Which ETF is bigger: SPSM or RFLR?
As of April 27, 2026, SPSM holds $15.25 B in assets under management (AUM), while RFLR manages $75.26 M.
What sectors do the SPSM and RFLR ETFs invest in?
SPSM leans toward sectors like Industrials, Financials and Information Technology. Meanwhile, RFLR focuses on Financials, Health Care and Industrials.
What are the top holdings of the SPSM ETF and RFLR ETF?
SPSM top holdings include EASTMAN CHEMICAL, ELEMENT SOLUTIONS INC and PRIMORIS SERVICES. RFLR holds in its top three: SM ENERGY, US92333F1012 and PAR PACIFIC HOLDINGS INC.
Which ETF is more diversified: SPSM or RFLR?
SPSM holds 601 securities with 7.33% of its assets in the top 15. RFLR has 833 securities and a top 15 weight of 4.68%.
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