SMDV ETF: What Is It? A Complete Guide to Returns, Expense Ratio, Holdings, and Alternative ETFs
The ProShares Russell 2000 Dividend Growers ETF is a passive fund that invests in US small-cap stocks with a record of steadily raising their dividends, and it seeks stability in dividend growth. Expense ratio, volatility, and dividends are the key points to check, comparison with large-cap dividend growth ETFs is a main selection criterion, and its trading ticker is SMDV.
SubscribeWhat Is the ProShares Russell 2000 Dividend Growers ETF?
This is a passive dividend ETF that tracks an index of US small-cap companies selected from the Russell 2000 Index for having raised their dividends for many consecutive years. It diversifies across dividend growth stocks in the small-cap space.
It suits dividend- and income-oriented investors who want to diversify across small-cap companies with stable dividend growth.
It is a passive (index-tracking) ETF managed by ProShares.
How Does the ProShares Russell 2000 Dividend Growers ETF Invest?
| Item | Details |
|---|---|
| Tracked Index | Russell 2000 Dividend Growth Index |
| Management Style | Passive (index-tracking) |
| Rebalancing Frequency | Regular (per index rules) |
| Dividend Frequency | Quarterly dividends |
| Expense Ratio | 0.40% |
The fund tracks, on an equal-weighted basis, an index of small-cap companies selected from the Russell 2000 Index that have steadily raised their dividends over a long period. By concentrating on companies with stable dividend growth, it offers relatively stable dividend exposure within the small-cap space.
- Focus on small-cap stocks with a long record of dividend increases
- Equal weighting reduces concentration in individual stocks
ProShares Russell 2000 Dividend Growers ETF Size and Costs (AUM and Management Fee)
Assets under management (AUM) stand at $678.3M, and the expense ratio is 0.40% per year.
Unlike general small-cap ETFs, it concentrates on dividend growth stocks and tends to show a relatively stable trajectory, but because of the nature of small caps, its volatility is higher than that of large-cap dividend stocks.
ProShares Russell 2000 Dividend Growers ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeSmall-cap dividend growth stocks are affected by the economic cycle and the interest rate environment. Thanks to the stability of their dividend growth, they can hold up relatively well in downturns compared with general small caps, but they may gain less in small-cap rallies driven by strong risk appetite.
Money tends to flow into dividend growth ETFs when demand for stable dividend growth rises, while in small-cap markets driven by strong risk appetite, capital sometimes shifts to general small-cap ETFs.
ProShares Russell 2000 Dividend Growers ETF Strengths and Weaknesses
Its strength is the stability of dividend growth in the small-cap space, while its weaknesses are small-cap volatility and relative underperformance versus growth small caps.
💪 Key Strengths
⚠️ Points to Watch
ProShares Russell 2000 Dividend Growers ETF Alternative ETFs and Related Products
VIG, SCHD, VYM, and others shown in the table are large-cap-focused dividend growth or high-dividend ETFs, so their market capitalization range differs. For more dividend growth exposure, you can also compare the large-cap dividend aristocrats ETF NOBL, the mid-cap dividend aristocrats ETF REGL, and the dividend growth ETF DGRO. They differ in market cap range, dividend criteria, and expense ratio, so it is best to choose according to your investment style.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 SCHD | Schwab US Dividend Equity ETF | $35.83 | +0.5% | $121.7B | 0.06% | 2.94% | +33.8% |
 VIG | Vanguard Dividend Appreciation FTF | $249.89 | +0.3% | $116.7B | 0.04% | 1.46% | +15.0% |
 VYM | Vanguard High Dividend Yield Indx ETF | $163.45 | +0.5% | $82.7B | 0.04% | 2.25% | +15.9% |
 DFAC | U.S. Core Equity 2 Portfolio-ETF Class Shares | $44.71 | -0.3% | $49.3B | 0.18% | 0.88% | +14.2% |
 RDVY | First Trust Rising Dividend Achievers ETF | $79.36 | -0.0% | $25.6B | 0.47% | 0.86% | +17.0% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
 POWI | Power Integrations Inc | 0.02% | $43.94 | -0.8% | $2.5B | 55.3 | 1.95% |
 NSP | Insperity Inc | 0.01% | $50.87 | +3.0% | $1.9B | 734.0 | 4.72% |
 MTRN | Materion Corp | 0.01% | $201.44 | -0.3% | $4.2B | 41.2 | 0.28% |
 HNI | HNI Corp | 0.01% | $49.28 | -0.9% | $3.6B | 105.0 | 2.9% |
 PRGO | Perrigo Company plc | 0.01% | $16.83 | -0.7% | $2.3B | - | 6.89% |
 SAH | Sonic Automotive Inc | 0.01% | $62.22 | -1.5% | $2.0B | 10.0 | 2.5% |
 MATX | Matson Inc | 0.01% | $207.00 | -0.4% | $6.1B | 11.7 | 0.71% |
 GRC | Gorman-Rupp Co | 0.01% | $70.19 | -1.1% | $1.9B | 25.1 | 1.08% |
 PII | Polaris Inc | 0.01% | $66.62 | -0.8% | $3.8B | - | 4.07% |
 LAND | Gladstone Land Corp | 0.01% | $6.88 | -1.4% | $296.8M | - | 8.14% |
ProShares Russell 2000 Dividend Growers ETF Investor Checkpoints
Here are the points to review before investing in SMDV. As a small-cap dividend growth ETF, it is important to check its volatility, potential for relative underperformance, sector concentration, and expense level in advance.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Expense Ratio | Check the fees of a passive dividend ETF | Needs checking |
| 📉 Volatility | Check volatility given the nature of small caps | On the high side |
| 📈 Relative Underperformance | Potential to lag in small-cap rallies | Possible underperformance |
| 🏭 Sector Concentration | Check sector weightings of dividend growth stocks | Needs checking |
Because they are small caps, volatility is higher than for large-cap dividend stocks, and gains may be relatively smaller in small-cap rallies driven by strong risk appetite. You should also consider that, given the nature of dividend growth stocks, the weighting of certain sectors may become large.
This is a passive ETF suited to dividend- and income-oriented investors who want to diversify across small-cap companies with stable dividend growth. If you want large-cap dividend stability, a large-cap dividend growth ETF may be the alternative; if you want small-cap dividend growth, SMDV could be the choice.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of June 4, 2026.
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