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SMDV: Lackluster Growth And Questionable Quality Mean Underperformance Into 2027
ProShares S&P SmallCap 600 Dividend Aristocrats ETF has recently changed its underlying index, which considerably impacted its portfolio composition and factor mix. I maintain a Hold rating on SMDV, viewing it as a suboptimal dividend strategy, likely to underperform IVV into 2027 given factor disadvantages. SMDV's portfolio has a high earnings yield, yet its quality is questionable, exposure to highly leveraged names is large, and growth metrics are anemic.
Is ProShares Russell 2000 Dividend Growers ETF (SMDV) a Strong ETF Right Now?
Making its debut on 02/03/2015, smart beta exchange traded fund ProShares Russell 2000 Dividend Growers ETF (SMDV) provides investors broad exposure to the Style Box - Small Cap Value category of the market.
SMDV: Why I Am Downgrading This Great ETF (Rating Downgrade)
I am downgrading ProShares Russell 2000 Dividend Growers ETF from Buy to Hold due to downside risk and negative projected return over the next six months. SMDV has rallied significantly but continues to lag both the S&P 500 and Russell 2000 over longer periods, holding stocks with a median P/E of 15.9x and a 2.9% yield. The ETF is unique for its small-cap, dividend-growth focus but currently trades near all-time highs, making it less attractive versus alternatives like REGL and NOBL.
ProShares Russell 2000 Dividend Growers ETF Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| BZ Brandon Zatopek Commonwealth Equity Services LLC | 35,270 | $2.72M | $2.55M | -$167,211.7 | -6.15% |
| JD Jim Dushek HARBOUR INVESTMENTS Inc. | 1,169 | $77,065.83 | $84,507.01 | $7,441.18 | 9.66% |
| RC Robert Chess L.M. Kohn & Company | 10,281 | $661,430.36 | $751,232.67 | $89,802.31 | 13.58% |
| LW Landry Watson AVANTAX ADVISORY SERVICES Inc. | 4,402 | $255,962.36 | $320,553.64 | $64,591.28 | 25.23% |
| AB Anthony Bruccoleri Equitable Holdings Inc. | 35,289 | $2.29M | $2.57M | $281,378.65 | 12.3% |
ProShares Russell 2000 Dividend Growers ETF (SMDV) FAQ
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What is its stock symbol?
Does it pay dividends? What is the current yield?
What is its market cap?
Has ProShares Russell 2000 Dividend Growers ETF ever had a stock split?
ProShares Russell 2000 Dividend Growers ETF Profile
| BATS Exchange | US Country |
Overview
The description provided outlines the investment strategy of a mutual fund or exchange-traded fund (ETF) that focuses on diversification across a broad range of sectors while adhering to specific investment criteria. By investing at least 80% of its total assets in the components of a particular index, which includes a minimum of 40 stocks equally weighted, the fund aims to mirror the performance of the index. The fund's investment approach also includes a sector concentration cap, ensuring that no single sector makes up more than 30% of the index weight, promoting sectoral balance within the portfolio. This strategy is designed to reduce risk by avoiding overexposure to any single sector.
Products and Services
The fund offers a diversified investment product characterized by two key strategies:
- Index-Based Investment
This service involves the fund investing at least 80% of its total assets in the securities that compose the index. The aim is to closely track the performance of the index, which is represented by a minimum of 40 equally weighted stocks. This strategy allows investors to benefit from the diversified exposure to the securities within the index, potentially reducing risk relative to investing in individual securities.
- Sector Diversification Cap
As part of its risk management approach, the fund employs a sector diversification cap, whereby no single sector can comprise more than 30% of the index weight. This ensures that the fund maintains a balanced exposure across various sectors, mitigating the risk associated with sector-specific downturns. This sector cap promotes a healthier, more resilient investment portfolio, potentially leading to more stable returns over time.
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