SQLTvsTMSLETF Comparison
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iShares MSCI USA Small-Cap Quality Factor ETF (SQLT) and T. Rowe Price Small-Mid Cap ETF (TMSL) belong to the same industry segment: US Multi-Factor. SQLT's top 3 sector exposures are Finance, Technology and Healthcare. In contrast, TMSL's top sector exposures are Finance, Healthcare and Industrials. SQLT is less expensive with a Total Expense Ratio (TER) of 0.2%, versus 0.55% for TMSL. Run a side-by-side ETF comparison of SQLT and TMSL 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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SQLT vs TMSL performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/26/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | SQLT TMSL | +1.59%-0.40% | -0.80%-3.82% | n/a+14.47% | n/a+16.31% | n/a+76.85% | n/an/a |
| Flows | SQLT TMSL | -+$154M | -+$533M | -+$1.78B | -+$1.92B | -+$2.79B | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SQLT TMSL | +10.85%+13.49% | n/a+17.47% | n/a+18.49% | n/an/a |
| Max drawdown | SQLT TMSL | -6.94%-9.77% | n/a-10.97% | n/a-24.43% | n/an/a |
| Max drawdown duration | SQLT TMSL | 71d68d | n/a46d | n/a283d | n/an/a |
Trading data
SQLT | TMSL | |
Last sale 10/27/2026 at 1:30 PM | $28.23 | $41.58 |
| Previous close 10/26/2026 | $28.18 | $41.34 |
| Consolidated volume 10/26/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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TMSL
is actively managed and doesn’t replicate an indexSQLT | TMSL | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/27/2026 at 1:30 PM
Live
Closed
SQLT | TMSL | |
|---|---|---|
| Last price | $28.23 | $41.58 |
| 1D performance | +0.18% | +0.58% |
| AuM | $6.77 M | $3.13 B |
| E/R | 0.2% | 0.55% |
Characteristics
SQLT | TMSL | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | iShares | T. Rowe Price |
| Benchmark | MSCI USA Small Cap Sector Neutral Quality Index | - |
| N° of holdings | 487 | 287 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | March 31, 2026 | June 15, 2023 |
| ESG | No | No |
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Exposure
Countries
SQLT
USA
97.96%
Other
2.04%
TMSL
USA
90.17%
Other
9.83%
Sectors
SQLT
Finance
22.17%
Technology
18.59%
Healthcare
14.67%
Industrials
13.94%
Non-Energy Materi.
8.98%
Other
21.65%
TMSL
Finance
26.27%
Healthcare
17.1%
Industrials
16.4%
Technology
12.41%
Non-Energy Materi.
7.78%
Other
20.04%
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Diversification
SQLT
Total weight of top 15 holdings out of 15
11.88%
TMSL
Total weight of top 15 holdings out of 15
13.56%
Top 15 holdings
Data as of August 31, 2026
SQLT
National Fuel Gas Co.
1.19%
Manhattan Associates, Inc.
0.96%
Royal Gold, Inc.
0.94%
TD SYNNEX Corp.
0.87%
East West Bancorp, Inc.
0.79%
Zebra Technologies Corp.
0.78%
Medpace Holdings, Inc.
0.77%
Woodward, Inc.
0.77%
Tenet Healthcare Corp.
0.75%
The New York Times Co.
0.70%
Exelixis, Inc.
0.68%
Onto Innovation, Inc.
0.67%
Jack Henry & Associates, Inc.
0.67%
BlackRock Cash Funds - Treasury
0.67%
Dynatrace, Inc.
0.67%
TMSL
Tenet Healthcare Corp.
1.15%
Popular, Inc.
1.15%
Permian Resources Corp.
1.02%
TechnipFMC plc
0.93%
AXIS Capital Holdings Ltd.
0.91%
nVent Electric Plc
0.90%
Corpay, Inc.
0.90%
East West Bancorp, Inc.
0.89%
Guardant Health, Inc.
0.89%
Marex Group Ltd.
0.89%
InterDigital, Inc.
0.83%
Reliance, Inc.
0.82%
TD SYNNEX Corp.
0.78%
Acuity, Inc.
0.75%
Samsara, Inc.
0.75%
Frequently asked questions about SQLT and TMSL
Which ETF is bigger: SQLT or TMSL?
As of October 26, 2026, SQLT holds $6.77 M in assets under management (AUM), while TMSL manages $3.13 B.
What sectors do the SQLT and TMSL ETFs invest in?
SQLT leans toward sectors like Finance, Technology and Healthcare. Meanwhile, TMSL focuses on Finance, Healthcare and Industrials.
What are the top holdings of the SQLT ETF and TMSL ETF?
SQLT top holdings include National Fuel Gas Co., Manhattan Associates, Inc. and Royal Gold, Inc.. TMSL holds in its top three: Tenet Healthcare Corp., Popular, Inc. and Permian Resources Corp..
Which ETF is more diversified: SQLT or TMSL?
SQLT holds 490 securities with 11.88% of its assets in the top 15. TMSL has 287 securities and a top 15 weight of 13.56%.
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