Which returned more over the last year, SMMD or TMSL?

In the year to Nov 4, 2026, with distributions reinvested, SMMD returned +22.4% and TMSL +22.6%.

Which is cheaper, SMMD or TMSL?

SMMD is cheaper, by 0.40 percentage points a year. That is about $40 on $10,000 held for a year. Fees come from each fund's prospectus.

How much do SMMD and TMSL overlap with the S&P 500?

By their latest filed holdings, 10% of SMMD and 15% of TMSL by weight is stocks the S&P 500 already holds.

Data as of Nov 4, 2026.

Across categories

SMMD vs TMSL: Differences, Returns & Fees

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Over the year to Nov 4, 2026, SMMD returned +22.4% to TMSL's +22.6%; 18% of their weight is in the same names.

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Net assets on Nov 3, 2026: $4.2bn for iShares Russell 2500 ETF and $3.2bn for T. Rowe Price Small-Mid Cap ETF.

SMMD on its own →TMSL on its own →

At a glance

+22.4%

SMMD total return, 1 year

+22.6%

TMSL total return, 1 year

0.15%

SMMD expense ratio

0.55%

TMSL expense ratio

Pair scorecard

SMMD costs 0.40 points a year less; their one-year returns differ by 0.2 points; SMMD is 1.3 times larger.

SMMD vs TMSL: Differences, Returns & Fees
Measure	SMMD	TMSL
Return
Measure	SMMD	TMSL
Total return, 1 year	+22.4%	+22.6%
Drawdown
Measure	SMMD	TMSL
Below its high	5.3%, high on Aug 14, 2026	5.2%, high on Aug 14, 2026
Benchmark
Measure	SMMD	TMSL
What it tracks	Russell 2500 Index	No index, actively managed
Cost and size
Measure	SMMD	TMSL
Expense ratio	0.15%	0.55%
Net assets, as of Nov 3, 2026	$4.2bn	$3.2bn
Holdings
Measure	SMMD	TMSL
Holdings in common	18%
Top ten holdings, share of the fund	43.4%	9.8%

Method

What they share

18%

By the books each fund has filed, SMMD and TMSL hold 18% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Nov 3, 2026.

50%

0 half 100%

half

18% in common

Positions both hold · largest shared weight first SMMD TMSL

GUARDANT HEALTH 0.31% 0.93%

PACKAGING CORP OF AMERICA 0.31% 0.48%

US FOODS HOLDING 0.31% 0.52%

VIATRIS 0.31% 0.71%

TENET HEALTHCARE CORP 0.30% 0.89%

NVENT ELECTRIC PLC 0.29% 1.00%

WOODWARD 0.28% 0.36%

SKYWORKS SOLUTIONS 0.27% 0.60%

PERMIAN RESOURCES CLASS A 0.26% 0.81%

ROIVANT SCIENCES LTD 0.26% 0.32%

API GROUP 0.25% 0.75%

EAST WEST BANCORP 0.25% 0.88%

Only in one fund ↓

Only in SMMD

ISHARES RUSSELL 2000 ETF 40.62%

ATI 0.34%

RELIANCE STEEL & ALUMINUM 0.31%

SOFI TECHNOLOGIES 0.30%

ROKU CLASS A 0.29%

AFFIRM HOLDINGS CLASS A 0.28%

ROYAL GOLD 0.27%

F5 0.26%

Only in TMSL

TELEDYNE TECHNOLOGIES INC 0.98%

TECHNIPFMC PLC 0.80%

STONEX GROUP INC 0.80%

BRIGHTSPRING HEALTH SERVICES 0.80%

RELIANCE INC 0.78%

ENTEGRIS INC 0.76%

WESTERN ALLIANCE BANCORP 0.73%

BEL FUSE INC-CL B 0.72%

Check overlap with more funds →

Side by side

SMMD iShares Russell 2500 ETF TMSL T. Rowe Price Small-Mid Cap ETF

Where it sits Stock ETF Stock ETF

Issuer iShares T. Rowe Price

What it is Tracks an index Actively managed

Total return, 1 year +22.4% +22.6%

Its benchmark over the same days +14.8% (IWV) +22.4% (SMMD)

Gap to its benchmark +7.6 pts vs IWV +0.2 pts vs SMMD

Expense ratio 0.15% 0.55%

Already in the S&P 500 10.3% 14.9%

Holdings 516 297

Net assets, as of Nov 3, 2026 $4.2bn $3.2bn

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

Alert

About each fund

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.

TMSL

TMSL is actively managed and tracks no index. Over the year to Nov 4, 2026 it returned +22.6% with distributions reinvested, against +22.4% for its benchmark, the Russell 2500 Index. The prospectus expense ratio is 0.55% a year. By its holdings filed for Jun 30, 2026, 15% of the fund by weight is stocks the S&P 500 also holds, across 297 positions, with the top ten at 9.8%. It sat 5.2% below its high of Aug 14, 2026 on Nov 4, 2026.

Questions people ask

Which returned more over the last year, SMMD or TMSL?: In the year to Nov 4, 2026, with distributions reinvested, SMMD returned +22.4% and TMSL +22.6%.
Which is cheaper, SMMD or TMSL?: SMMD is cheaper, by 0.40 percentage points a year. That is about $40 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do SMMD and TMSL overlap with the S&P 500?: By their latest filed holdings, 10% of SMMD and 15% of TMSL by weight is stocks the S&P 500 already holds.

Other comparisons

JMEE vs SMMD CGMM vs SMMD IVOO vs SMMD FV vs SMMD IMCB vs TMSL IVOG vs TMSL FLQM vs TMSL FTC vs TMSL

Where to next

SMMD on its own →TMSL on its own →Hold both: look the portfolio through →Rankings →SMMD dividend history →SMMD holdings →TMSL dividend history →TMSL holdings →Standards and sources →

Sources and dates

SMMD filings on SEC EDGAR ↗

SMMD prospectus with the expense ratio (SEC) ↗

iShares page for SMMD ↗

TMSL filings on SEC EDGAR ↗

TMSL prospectus with the expense ratio (SEC) ↗

T. Rowe Price website ↗

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

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