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Data as of Nov 4, 2026.

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MLRG vs SMMD: Differences, Returns & Fees

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Over the year to Nov 4, 2026, MLRG returned +14.5% to SMMD's +22.4%; 1% of their weight is in the same names.

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Net assets on Nov 3, 2026: $1.3bn for iShares MSCI USA ETF and $4.2bn for iShares Russell 2500 ETF.

MLRG on its own →SMMD on its own →
At a glance
+14.5%
MLRG total return, 1 year
+22.4%
SMMD total return, 1 year
0.03%
MLRG expense ratio
0.15%
SMMD expense ratio

Pair scorecard

MLRG costs 0.12 points a year less; their one-year returns differ by 7.9 points; SMMD is 3.2 times larger.

MLRG vs SMMD: Differences, Returns & Fees
MeasureMLRGSMMD
Return
Total return, 1 year+14.5%+22.4%
Drawdown
Below its high5.3%, high on Aug 14, 2026
Benchmark
What it tracksMSCI USA IndexRussell 2500 Index
Cost and size
Expense ratio0.03%0.15%
Net assets$1.3bn$4.2bn
Holdings
Holdings in common1%
Top ten holdings, share of the fund36.5%43.4%

Method

What they share

1%

By the books each fund has filed, MLRG and SMMD hold 1% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026.

0 half 100%

half

1% in common

Positions both hold · largest shared weight first MLRG SMMD
ATI 0.04% 0.34%
RELIANCE STEEL & ALUMINUM 0.04% 0.31%
AFFIRM HOLDINGS CLASS A 0.03% 0.28%
F5 0.03% 0.26%
KIMCO REALTY REIT CORP 0.03% 0.23%
NISOURCE 0.03% 0.30%
NORDSON 0.03% 0.24%
NVENT ELECTRIC PLC 0.03% 0.29%
PACKAGING CORP OF AMERICA 0.03% 0.31%
ROIVANT SCIENCES LTD 0.03% 0.26%
SHARKNINJA 0.03% 0.25%
SKYWORKS SOLUTIONS 0.03% 0.27%
Only in one fund ↓
Only in MLRG
APPLE 7.48%
NVIDIA 7.29%
MICROSOFT 5.64%
AMAZON.COM INC 3.72%
ALPHABET CLASS A 2.52%
BROADCOM INC 2.30%
META PLATFORMS CLASS A 2.09%
ALPHABET CLASS C 2.00%
Only in SMMD
ISHARES RUSSELL 2000 ETF 40.62%
GUARDANT HEALTH 0.31%
US FOODS HOLDING 0.31%
VIATRIS 0.31%
TENET HEALTHCARE CORP 0.30%
ROKU CLASS A 0.29%
WOODWARD 0.28%
ROYAL GOLD 0.27%
Check overlap with more funds →

Side by side

MLRG iShares MSCI USA ETF SMMD iShares Russell 2500 ETF
Where it sits Stock ETF Stock ETF
Issuer iShares iShares
What it is Tracks an index Tracks an index
Total return, 1 year +14.5% +22.4%
Its benchmark over the same days +14.3% (PBUS) +14.8% (IWV)
Gap to its benchmark +0.2 pts vs PBUS +7.6 pts vs IWV
Expense ratio 0.03% 0.15%
Already in the S&P 500 95.6% 10.3%
Holdings 514 516
Net assets, as of Nov 3, 2026 $1.3bn $4.2bn
Former ticker ILCB none

MLRG and SMMD on the fields both publish, as of Nov 4, 2026. Source: ETFIQ.

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About each fund
MLRG

MLRG tracks an index. Over the year to Nov 4, 2026 it returned +14.5% with distributions reinvested, against +14.3% for its benchmark, the MSCI USA Index. The prospectus expense ratio is 0.03% a year. By its holdings published by its issuer for Nov 3, 2026, 96% of the fund by weight is stocks the S&P 500 also holds, across 514 positions, with the top ten at 36.5%.

SMMD

Over the year to Nov 4, 2026 it returned +22.4% with distributions reinvested, against +14.8% for its benchmark, the Russell 3000 Index.

SMMD tracks an index. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Nov 3, 2026, 10% of the fund by weight is stocks the S&P 500 also holds, across 516 positions, with the top ten at 43.4%. It sat 5.3% below its high of Aug 14, 2026 on Nov 4, 2026.

Questions people ask

Which returned more over the last year, MLRG or SMMD?
In the year to Nov 4, 2026, with distributions reinvested, MLRG returned +14.5% and SMMD +22.4%.
Which is cheaper, MLRG or SMMD?
MLRG is cheaper, by 0.12 percentage points a year. That is about $12 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do MLRG and SMMD overlap with the S&P 500?
By their latest filed holdings, 96% of MLRG and 10% of SMMD by weight is stocks the S&P 500 already holds.
Other comparisons
IJH vs MLRGIMCG vs MLRGFV vs MLRGIVOO vs MLRGFTC vs SMMDFMDE vs SMMDMOAT vs SMMDFTGS vs SMMD
Where to next
MLRG on its own →SMMD on its own →Hold both: look the portfolio through →Rankings →MLRG dividend history →MLRG holdings →SMMD dividend history →SMMD holdings →Standards and sources →
Sources and dates
MLRG and SMMD filings on SEC EDGAR ↗
MLRG prospectus with the expense ratio (SEC) ↗
iShares page for MLRG ↗
SMMD prospectus with the expense ratio (SEC) ↗
iShares page for SMMD ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

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ETFIQ, MLRG against SMMD, data as of Nov 4, 2026. https://etfiq.com/compare/any/mlrg-vs-smmd

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.