ETF Evaluator:
Hilton Small-MidCap Opportunity ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Mid-Cap Blend Over the Last Year
| 58.8% | Castellan Targeted Equity ETF (CTEF) |
| 53.8% | Invesco S&P Spin-Off ETF (CSD) |
| 43.0% | Counterpoint Quantitative Equity ETF (CPAI) |
| 40.8% | Optimize Strategy Index ETF (OPTZ) |
| 37.3% | Tema U.S. Manufacturing & Reshoring ETF (WELD) |
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ETF Details
Hilton Small-MidCap Opportunity ETF Overview
Hilton Small-MidCap Opportunity ETF (SMCO) is an actively managed U.S. Equity Mid-Cap Blend exchange-traded fund (ETF). Hilton Capital Management, LLC launched the ETF in 2023.
The investment seeks long-term capital appreciation.
The Sub-Adviser uses its proprietary Small & Mid Cap Opportunities investment process (“SMCO Process”) to seek risk-adjusted returns by investing in U.S. equity securities within the small- and mid-cap asset classes. The fund’s portfolio will typically consist of between 50-75 stocks. The fund’s portfolio will consistently consist of stocks that the Sub-Adviser deems fundamentally attractive and reasonably valued. Under normal circumstances, at least 80% of the fund’s net assets, plus borrowings for investment purposes, will be invested in equity securities of small- and mid-capitalization companies.
About Hilton Small-MidCap Opportunity ETF (SMCO)
There are 5 members of the management team with an average tenure of 1.77 years: Andrew Hicks (2026), Timothy Reilly (2023), Qiao Duan (2023), Thomas Maher (2023) and Jason Mastronardi (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Russell 2500 TR USD index with a weighting of 100% and Russell 3000 TR USD index with a weighting of 100%. Hilton Small-MidCap Opportunity ETF has 65 securities in its portfolio. The top 10 holdings constitute 24.8% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Hilton Small-MidCap Opportunity ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Hilton Small-MidCap Opportunity ETF has 2.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 96.3% There is 2.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Hilton Small-MidCap Opportunity ETF has 1.0% of the portfolio in cash.
Assets Under Management
The fund has $142 million in total assets, which is below the $4 billion average for the Mid-Cap Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
SMCO Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Hilton Small-MidCap Opportunity ETF expense ratio is average compared to funds in the Mid-Cap Blend category. Hilton Small-MidCap Opportunity ETF has an expense ratio of 0.55%, which is 22% higher than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Hilton Small-MidCap Opportunity ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 84% for the Mid-Cap Blend category.
Recently, in the month of July 2026, Hilton Small-MidCap Opportunity ETF returned -4.4%, which earned it a grade of F, as the Mid-Cap Blend category had an average return of -1.6%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Hilton Small-MidCap Opportunity ETF has a trailing yield of 0.91%, which is above the 0.85% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Hilton Small-MidCap Opportunity ETF Grades
Year to date, the ETF has returned 10.6%, 3.4 percentage points worse than the category, which translates into a grade of D. The fund has returned 14.6% over the past year (grade of D).
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SMCO Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| SMCO Return (NAV) | -4.4% | -0.1% | 14.6% | na | na | na |
| SMCO Return (Price) | -4.4% | -0.1% | 14.7% | na | na | na |
| NAV +/- Price Return | 0.048% | -0.047% | -0.082% | na | na | na |
| Mid-Cap Blend Avg | -1.6% | 4.4% | 20.8% | 14.8% | 8.8% | 11.6% |
| SMCO Grade (NAV) | F | F | D | na | na | na |
| +/- Category (NAV) | -2.8% | -4.5% | -6.2% | na | na | na |
| SMCO Tax-Cost Ratio | na | na | 0.3% | na | na | na |
SMCO Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SMCO Return (NAV) | 10.6% | 6.4% | 17.7% | na | na | na | na | na | na | na | na |
| SMCO Return (Price) | 10.5% | 6.5% | 17.8% | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.007% | 0.004% | 0.004% | na | na | na | na | na | na | na | na |
| Mid-Cap Blend Avg | 14.0% | 10.6% | 16.1% | 16.9% | -14.4% | 23.3% | 15.6% | 27.4% | -9.1% | 19.1% | 14.8% |
| SMCO Grade (NAV) | D | F | B | na | na | na | na | na | na | na | na |
| +/- Category | -3.4% | -4.2% | 1.6% | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 0.9% |
| Total Assets: | $ 142 Mil |
| Share Class Assets: | $ 142 Mil |
| Turnover: | na |
| Expense Ratio: | 0.55% |
| Index Fund: | No |
| Index Tracked: | Russell 2500 TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 2.7 years | |||
| Average Tenure: 1.8 years | |||
| Managers (Year): Reilly Timothy (2023), Duan Qiao (2023), Maher Thomas (2023), Hicks Andrew (2026), Mastronardi Jason (2026) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 65 |
| % in Top 10 Holdings: | 24.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 2.6% |
Portfolio Allocation |
|
| Domestic Stock: | 96.3% |
| Foreign Stock: | 2.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.1% |
| Cash: | 1.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Hilton Capital Management, LLC |
| Phone Number: | 833-594-4586 |
| Website: | |
| Inception Date: | November 28, 2023 |
Expenses and Fees
| Expense Ratio (%): | 0.55% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.45% |
