ETF Evaluator:
ProShares S&P SmCp 600 Div ArstocrtsETF (SMDV)
Follow This ETF
(as of Oct 12)
Best Performing in Small Value Over the Last Year
| 28.9% | VictoryShares Small Cap Fr CA Flw ETF (SFLO) |
| 26.2% | iShares US Small Cap Value Factor ETF (SVAL) |
| 26.1% | Research Affiliates Deletions ETF (NIXT) |
| 25.7% | Harbor SMID Cap Value ETF (EPSV) |
| 25.2% | EA Bridgeway Omni Small-Cap Value ETF (BSVO) |
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ETF Details
ProShares S&P SmCp 600 Div ArstocrtsETF Overview
ProShares S&P SmCp 600 Div ArstocrtsETF (SMDV) is a passively managed U.S. Equity Small Value exchange-traded fund (ETF). ProShares launched the ETF in 2015.
The investment seeks investment results, before fees and expenses, that track the performance of the S&P SmallCap 600 Dividend Aristocrats Index.
The fund invests in financial instruments that ProShare Advisors believes, in combination, should track the performance of the index. The index is designed to measure the performance of companies in the S&P SmallCap 600 Index that have increased dividends every year for at least 10 consecutive years.
About ProShares S&P SmCp 600 Div ArstocrtsETF (SMDV)
There are 2 members of the management team with an average tenure of 10.04 years: Michael Neches (2015) and Devin Sullivan (2018). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and S&P SmallCap 600 Dividend Aristocrat USD index with a weighting of 100%. ProShares S&P SmCp 600 Div ArstocrtsETF has 71 securities in its portfolio. The top 10 holdings constitute 17.4% 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.
ProShares S&P SmCp 600 Div ArstocrtsETF is part of the Equity global asset class and is within the U.S. Equity ETF group. ProShares S&P SmCp 600 Div ArstocrtsETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 99.9% There is 0.0% 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). ProShares S&P SmCp 600 Div ArstocrtsETF has 0.1% of the portfolio in cash.
Assets Under Management
The fund has $647 million in total assets, which is below the $2 billion average for the Small 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.
SMDV 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 ProShares S&P SmCp 600 Div ArstocrtsETF expense ratio is average compared to funds in the Small Value category. ProShares S&P SmCp 600 Div ArstocrtsETF has an expense ratio of 0.40%, which is 15% lower 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. ProShares S&P SmCp 600 Div ArstocrtsETF has a portfolio turnover rate of 36%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 60% for the Small Value category.
Recently, in the month of September 2026, ProShares S&P SmCp 600 Div ArstocrtsETF returned -5.2%, which earned it a grade of B, as the Small Value category had an average return of -5.6%. 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.
ProShares S&P SmCp 600 Div ArstocrtsETF has a trailing yield of 2.43%, which is above the 1.82% category average.
The fund normally distributes its income quarterly.
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.
ProShares S&P SmCp 600 Div ArstocrtsETF Grades
Year to date, the ETF has returned 10.3%, 3.2 percentage points worse than the category, which translates into a grade of D. The fund has returned 10.3% over the past year (grade of F), 11.2% over the past three years (grade of F) and 5.8% per year over the past five years (grade of F) and 6.6% per year over the past 10 years (grade of F).
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SMDV Trailing NAV Total Returns Data as of 9/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| SMDV Return (NAV) | -5.2% | -6.3% | 10.3% | 11.2% | 5.8% | 6.6% |
| SMDV Return (Price) | -5.1% | -6.4% | 10.3% | 11.2% | 5.8% | 6.6% |
| NAV +/- Price Return | -0.074% | 0.043% | 0.004% | -0.001% | 0.011% | 0.016% |
| Small Value Avg | -5.6% | -4.1% | 15.6% | 14.2% | 7.6% | 9.4% |
| SMDV Grade (NAV) | B | F | F | F | F | F |
| +/- Category (NAV) | 0.4% | -2.3% | -5.2% | -3.1% | -1.7% | -2.8% |
| SMDV Tax-Cost Ratio | na | na | 0.9% | 0.8% | 0.8% | 0.7% |
SMDV Annual NAV Total ReturnsData as of 9/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SMDV Return (NAV) | 10.3% | 0.3% | 7.0% | 8.9% | -5.8% | 19.1% | -4.9% | 17.4% | -0.7% | 4.7% | 35.6% |
| SMDV Return (Price) | 10.3% | 0.3% | 7.0% | 9.0% | -5.9% | 19.0% | -4.7% | 17.2% | -0.6% | 4.6% | 35.7% |
| NAV +/- Price Ret | 0.003% | -0.202% | 0.001% | 0.015% | 0.016% | -0.007% | -0.042% | -0.8% | -14.1% | -1.7% | 0.4% |
| Small Value Avg | 13.5% | 7.0% | 7.7% | 17.1% | -10.7% | 33.2% | 4.1% | 21.1% | -12.3% | 9.7% | 29.3% |
| SMDV Grade (NAV) | D | F | D | F | A | F | F | F | A | F | A |
| +/- Category | -3.2% | -6.6% | -0.7% | -8.2% | 4.9% | -14.1% | -9.0% | -3.8% | 11.6% | -5.0% | 6.2% |
| Risk Measures | |
| Beta: | 0.74 |
| R-Squared: | 27% |
| Standard Deviation: | 17.6% |
| Category Risk Index: | 0.96 |
| Category Risk Rating: | Below Average |
| Total Risk Index: | 1.46 |
| Total Risk Rating: | Above Average |
| Portfolio Characteristics | |
| Yield: | 2.4% |
| Total Assets: | $ 647 Mil |
| Share Class Assets: | $ 647 Mil |
| Turnover: | 36.0% |
| Expense Ratio: | 0.40% |
| Index Fund: | Yes |
| Index Tracked: | Russell 3000 TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 11.7 years | |||
| Average Tenure: 10.0 years | |||
| Managers (Year): Neches Michael (2015), Sullivan Devin (2018) | |||
Portfolio Composition (as of 9/30/26)
| # of Holdings: | 71 |
| % in Top 10 Holdings: | 17.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 99.9% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.1% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | ProShares |
| Phone Number: | 866-776-5125 |
| Website: | www.proshares.com |
| Inception Date: | February 3, 2015 |
Expenses and Fees
| Expense Ratio (%): | 0.40% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.47% |
