ETF Evaluator:
Bahl & Gaynor Sm/Md Cp Inc Gr ETF ()
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(as of Aug 26)
Best Performing in Mid-Cap Value Over the Last Year
| 45.0% | VictoryShares Free Cash Flow ETF (VFLO) |
| 39.1% | Bushido Capital US SMID Cap Equity ETF (RNIN) |
| 38.8% | Bushido Capital US Equity ETF (SMRI) |
| 37.8% | ProShares Equities for Rising Rates ETF (EQRR) |
| 37.4% | Vanguard US Multifactor ETF (VFMF) |
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ETF Details
Bahl & Gaynor Sm/Md Cp Inc Gr ETF Overview
Bahl & Gaynor Sm/Md Cp Inc Gr ETF (SMIG) is an actively managed U.S. Equity Mid-Cap Value exchange-traded fund (ETF). Bahl & Gaynor Inc. launched the ETF in 2021.
The investment seeks current and growing dividend income, downside protection, and long-term capital appreciation.
The fund is an actively managed exchange-traded fund (“ETF”) that invests in U.S.-listed equity securities of small- and mid-capitalization companies. Under normal circumstances, the fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in small- and mid-capitalization companies. The equity securities held by the fund must be listed on a U.S. exchange and may include common stocks of U.S. companies, American Depositary Receipts (“ADRs”), and real estate investment trusts (“REITs”).
About Bahl & Gaynor Sm/Md Cp Inc Gr ETF (SMIG)
There are 3 members of the management team with an average tenure of 3.70 years: Robert Groenke (2021), Scott Rodes (2021) and Peter Kwiatkowski (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Russell 2500 TR USD index with a weighting of 100%. Bahl & Gaynor Sm/Md Cp Inc Gr ETF has 42 securities in its portfolio. The top 10 holdings constitute 40.0% 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.
Bahl & Gaynor Sm/Md Cp Inc Gr ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Bahl & Gaynor Sm/Md Cp Inc Gr ETF has 9.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 90.9% There is 9.0% 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). Bahl & Gaynor Sm/Md Cp Inc Gr ETF has 0.3% of the portfolio in cash.
Assets Under Management
The fund has $1 billion in total assets, which is below the $2 billion average for the Mid-Cap Value 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.
SMIG 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 Bahl & Gaynor Sm/Md Cp Inc Gr ETF expense ratio is above average compared to funds in the Mid-Cap Value category. Bahl & Gaynor Sm/Md Cp Inc Gr ETF has an expense ratio of 0.60%, which is 28% higher than its category average, making the fund expense ratio grade a D. 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. Bahl & Gaynor Sm/Md Cp Inc Gr ETF has a portfolio turnover rate of 17%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 72% for the Mid-Cap Value category.
Recently, in the month of July 2026, Bahl & Gaynor Sm/Md Cp Inc Gr ETF returned 1.0%, which earned it a grade of F, as the Mid-Cap Value category had an average return of 3.5%. 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.
Bahl & Gaynor Sm/Md Cp Inc Gr ETF has a trailing yield of 1.66%, which is below the 2.05% category average.
The fund normally distributes its income monthly.
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.
Bahl & Gaynor Sm/Md Cp Inc Gr ETF Grades
Year to date, the ETF has returned 16.3%, 0.9 percentage points better than the category, which translates into a grade of C. The fund has returned 15.7% over the past year (grade of F) and 12.6% over the past three years (grade of D).
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SMIG 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 |
|
| SMIG Return (NAV) | 1.0% | 5.8% | 15.7% | 12.6% | na | na |
| SMIG Return (Price) | 1.2% | 5.8% | 15.7% | 12.5% | na | na |
| NAV +/- Price Return | -0.158% | -0.017% | 0.048% | 0.027% | na | na |
| Mid-Cap Value Avg | 3.5% | 6.1% | 23.5% | 13.9% | 10.2% | 10.8% |
| SMIG Grade (NAV) | F | C | F | D | na | na |
| +/- Category (NAV) | -2.5% | -0.3% | -7.8% | -1.3% | na | na |
| SMIG Tax-Cost Ratio | na | na | 0.7% | 0.8% | na | na |
SMIG Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SMIG Return (NAV) | 16.3% | 0.9% | 17.8% | 13.4% | -11.7% | na | na | na | na | na | na |
| SMIG Return (Price) | 16.3% | 0.8% | 17.9% | 13.6% | -11.8% | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.001% | -0.123% | 0.003% | 0.018% | 0.009% | na | na | na | na | na | na |
| Mid-Cap Value Avg | 15.4% | 10.4% | 12.2% | 12.9% | -5.7% | 31.6% | 0.6% | 25.6% | -10.0% | 15.5% | 20.3% |
| SMIG Grade (NAV) | C | F | A | C | F | na | na | na | na | na | na |
| +/- Category | 0.9% | -9.5% | 5.6% | 0.5% | -6.1% | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 0.75 |
| R-Squared: | 49% |
| Standard Deviation: | 14.0% |
| Category Risk Index: | 0.98 |
| Category Risk Rating: | Average |
| Total Risk Index: | 1.14 |
| Total Risk Rating: | Average |
| Portfolio Characteristics | |
| Yield: | 1.7% |
| Total Assets: | $ 1,493 Mil |
| Share Class Assets: | $ 1,493 Mil |
| Turnover: | 17.0% |
| Expense Ratio: | 0.60% |
| Index Fund: | No |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 4.9 years | |||
| Average Tenure: 3.7 years | |||
| Managers (Year): Groenke Robert (2021), Rodes Scott (2021), Kwiatkowski Peter (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 42 |
| % in Top 10 Holdings: | 40.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 9.0% |
Portfolio Allocation |
|
| Domestic Stock: | 90.9% |
| Foreign Stock: | 9.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | -0.2% |
| Cash: | 0.3% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Bahl & Gaynor Inc. |
| Phone Number: | 800-617-0004 |
| Website: | |
| Inception Date: | August 25, 2021 |
Expenses and Fees
| Expense Ratio (%): | 0.60% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.47% |
