Small Cap and Small Size ETFs
A small cap stock is generally defined as the stock of publicly traded company that has a market capitalization ranging from $300 million to about $2 billion. ETFs that invest in small cap stocks have been around a long time, and most people wouldn't necessarily consider a small cap ETF to be a "smart beta" ETF. But since "size" is perhaps the most well established factor that can lead to a stock outperforming the market, we have included this article about small cap ETFs in our "smart beta" series of articles. But many of the small cap ETFs that exist have been around a long time and are based on plain vanilla indexes that weight their holdings using market capitalization.
There are also a lot of smart beta large and mid cap stock indexes that intentionally select "smaller" size companies from the list of large and mid cap stocks included in the parent universe of stocks. We call these "small size factor" indexes, or small size ETPs.
There are a large number of small cap or small size factor ETPs, as shown in this table:
| Name | Symbol | Last price | Currency | AUM | Expense ratio, % | Inception date |
|---|---|---|---|---|---|---|
| Vanguard Small-Cap ETF | XNYS:VB | 191.18 | USD | 150,700,000,000 | 0.05 | Jan 26, 2004 |
| iShares Core S&P Small-Cap ETF | ARCX:IJR | 119.07 | USD | 93,591,154,891 | 0.06 | May 26, 2000 |
| iShares Russell 2000 ETF | ARCX:IWM | 228.56 | USD | 82,239,500,295 | 0.19 | May 26, 2000 |
| Vanguard Small-Cap Value ETF | ARCX:VBR | 206.64 | USD | 57,600,000,000 | 0.07 | Jan 26, 2004 |
| Vanguard Small-Cap Growth ETF | ARCX:VBK | 295.33 | USD | 35,900,000,000 | 0.07 | Jan 26, 2004 |
| Schwab U.S. Small-Cap ETF | ARCX:SCHA | 26.92 | USD | 19,869,286,400 | 0.04 | Nov 03, 2009 |
| iShares Russell 2000 Value ETF | ARCX:IWN | 168.28 | USD | 13,658,983,024 | 0.24 | Jul 28, 2000 |
| SPDR Portfolio S&P 600 Small Cap ETF | ARCX:SPSM | 46.47 | USD | 13,427,660,000 | 0.03 | Jul 08, 2013 |
| iShares Russell 2000 Growth ETF | ARCX:IWO | 300.73 | USD | 13,218,164,868 | 0.24 | Jul 28, 2000 |
| Avantis U.S. Small Cap Value ETF | ARCX:AVUV | 99.82 | USD | 12,277,335,186 | 0.25 | Sep 26, 2019 |
| Vanguard Russell 2000 ETF | XNAS:VTWO | 92.47 | USD | 12,000,000,000 | 0.10 | Sep 20, 2010 |
| Vanguard FTSE All-Wld ex-US SmCp Idx ETF | ARCX:VSS | 115.97 | USD | 10,800,000,000 | 0.08 | Apr 02, 2009 |
| Schwab Fundamental U.S. Small Company ETF | ARCX:FNDA | 30.71 | USD | 9,928,787,968 | 0.25 | Aug 15, 2013 |
| Pacer US Small Cap Cash Cows 100 ETF | BATS:CALF | 45.25 | USD | 8,962,636,500 | 0.59 | Jun 19, 2017 |
| iShares MSCI EAFE Small-Cap ETF | XNAS:SCZ | 62.37 | USD | 8,759,053,900 | 0.40 | Dec 12, 2007 |
| Dimensional U.S. Small Cap ETF | ARCX:DFAS | 67.69 | USD | 8,263,001,700 | 0.26 | Jun 14, 2021 |
| iShares S&P SmallCap 600 Value ETF | ARCX:IJS | 111.60 | USD | 7,609,800,502 | 0.18 | Jul 28, 2000 |
| iShares S&P SmallCap 600 Growth ETF | XNAS:IJT | 140.83 | USD | 6,847,279,706 | 0.18 | Jul 28, 2000 |
| Avantis International Small Cap Value ETF | ARCX:AVDV | 66.47 | USD | 5,981,828,202 | 0.36 | Sep 26, 2019 |
| Vanguard S&P Small-Cap 600 ETF | ARCX:VIOO | 109.73 | USD | 4,700,000,000 | 0.10 | Sep 07, 2010 |
| SPDR S&P 600 Small Cap Value ETF (based on S&P SmallCap Value Index--symbol--CVK | ARCX:SLYV | 89.67 | USD | 4,332,040,000 | 0.15 | Sep 25, 2000 |
| Schwab International Small-Cap Equity ETF | ARCX:SCHC | 35.31 | USD | 4,068,395,520 | 0.11 | Jan 14, 2010 |
| SPDR S&P 600 Small Cap Growth ETF (based on S&P SmallCap 600 Growth Index --symbol CGK) | ARCX:SLYG | 94.02 | USD | 3,932,620,000 | 0.15 | Sep 25, 2000 |
| Dimensional ETF Trust Dimensional US Small Cap Value ETF | ARCX:DFSV | 31.88 | USD | 3,334,768,150 | 0.31 | Feb 24, 2022 |
| Schwab Fundamental International Small Equity ETF | ARCX:FNDC | 34.94 | USD | 3,170,176,512 | 0.39 | Aug 15, 2013 |
| Direxion Small Cap Bull 3X Shares | ARCX:TNA | 45.79 | USD | 2,381,547,938 | 1.08 | Nov 19, 2008 |
| WisdomTree Emerging Market SmallCap Fund | ARCX:DGS | 49.20 | USD | 2,211,832,550 | 0.58 | Oct 30, 2007 |
| Dimensional ETF Trust Dimensional International Small Cap Value ETF | BATS:DISV | 27.31 | USD | 2,109,131,989 | 0.42 | Mar 24, 2022 |
| iShares ESG Aware MSCI USA Small-Cap ETF | BATS:ESML | 43.84 | USD | 1,949,992,556 | 0.17 | May 15, 2018 |
| WisdomTree U.S. SmallCap Dividend Fund | ARCX:DES | 34.83 | USD | 1,919,853,800 | 0.38 | Jun 16, 2006 |
| Invesco Exchange-Traded Fund Trust II Invesco S&P SmallCap 600 Revenue ETF | XNYS:RWJ | 45.67 | USD | 1,841,803,727 | 0.39 | Feb 19, 2008 |
| Dimensional ETF Trust Dimensional International Small Cap ETF | BATS:DFIS | 25.16 | USD | 1,739,805,493 | 0.39 | Mar 24, 2022 |
| Global X Funds Global X Russell 2000 ETF | ARCX:RSSL | 89.91 | USD | 1,610,000,000 | 0.08 | Jun 04, 2024 |
| iShares U.S. Small-Cap Equity Factor ETF | ARCX:SMLF | 71.18 | USD | 1,505,619,969 | 0.15 | Apr 30, 2015 |
| Global X Russell 2000 Covered Call ETF | ARCX:RYLD | 16.63 | USD | 1,480,000,000 | 0.63 | Apr 17, 2019 |
| Invesco S&P SmallCap Momentum ETF | ARCX:XSMO | 69.31 | USD | 1,432,360,900 | 0.29 | Mar 03, 2005 |
| Vanguard S&P Small-Cap 600 Value ETF | ARCX:VIOV | 95.88 | USD | 1,400,000,000 | 0.15 | Sep 07, 2010 |
| EA Bridgeway Omni Small-Cap Value ETF | XNAS:BSVO | 22.20 | USD | 1,325,775,587 | 0.47 | Mar 13, 2023 |
| Vanguard Russell 2000 Growth ETF | XNAS:VTWG | 219.50 | USD | 1,300,000,000 | 0.15 | Sep 20, 2010 |
| American Century ETF Trust Avantis U.S Small Cap Equity ETF | ARCX:AVSC | 55.86 | USD | 1,198,774,863 | 0.25 | Jan 13, 2022 |
| Nuveen ESG Small-Cap ETF | BATS:NUSC | 43.58 | USD | 1,134,261,868 | 0.31 | Dec 16, 2016 |
| Invesco Dorsey Wright SmallCap Momentum ETF | XNAS:DWAS | USD | 1,070,216,450 | 0.60 | Jul 19, 2012 | |
| Fidelity Covington Trust Fidelity Enhanced Small Cap ETF | ARCX:FESM | 33.89 | USD | 1,054,147,515 | 0.28 | Nov 20, 2023 |
| WisdomTree International SmallCap Fund | ARCX:DLS | 63.81 | USD | 964,121,060 | 0.58 | Jun 16, 2006 |
| Vanguard S&P Small-Cap 600 Growth ETF | ARCX:VIOG | 121.01 | USD | 957,100,000 | 0.15 | Sep 07, 2010 |
| Ishares MSCI India Small Cap ETF | BATS:SMIN | 70.38 | USD | 949,064,480 | 0.79 | Feb 09, 2012 |
| Vanguard Russell 2000 Value ETF | XNAS:VTWV | 148.23 | USD | 896,500,000 | 0.15 | Sep 20, 2010 |
| ALPS O'Shares U.S. Small-Cap Quality Dividend ETF | BATS:OUSM | 44.50 | USD | 881,720,783 | 0.48 | Dec 30, 2016 |
| First Trust Small Cap Core AlphaDEX Fund | XNAS:FYX | 103.84 | USD | 870,382,336 | 0.60 | May 10, 2007 |
| Invesco S&P SmallCap Value with Momentum ETF | ARCX:XSVM | 55.34 | USD | 858,925,000 | 0.29 | Mar 03, 2005 |
| ProShares Russell 2000 Dividend Growers ETF | BATS:SMDV | 68.21 | USD | 777,071,360 | 0.40 | Feb 05, 2015 |
| SPDR S&P Emerging Markets Small Cap ETF | ARCX:EWX | 58.13 | USD | 735,370,000 | 0.65 | May 12, 2008 |
| iShares Morningstar Small-Cap Growth ETF | ARCX:ISCG | 51.83 | USD | 670,999,796 | 0.06 | Jul 13, 2004 |
| SPDR S&P International SmallCap ETF | ARCX:GWX | 31.77 | USD | 644,920,000 | 0.40 | Apr 20, 2007 |
| WisdomTree U.S. SmallCap Fund | ARCX:EES | 55.41 | USD | 595,502,710 | 0.38 | Feb 23, 2007 |
| Principal U.S. Small-Cap ETF | XNAS:PSC | 53.56 | USD | 594,442,992 | 0.38 | Sep 22, 2016 |
| ProShares Ultra Russell2000 | ARCX:UWM | 44.61 | USD | 572,391,850 | 0.95 | Jan 25, 2007 |
| iShares International Small-Cap Equity Factor ETF | ARCX:ISCF | 32.97 | USD | 528,682,440 | 0.23 | May 01, 2015 |
| ProShares UltraPro Russell2000 | ARCX:URTY | 53.82 | USD | 527,300,050 | 0.95 | Feb 11, 2010 |
| JPMorgan BetaBuilders U.S. Small Cap Equity ETF | ARCX:BBSC | 70.52 | USD | 482,636,000 | 0.09 | Dec 02, 2020 |
| GS ActiveBeta U.S. Small Cap Equity ETF | ARCX:GSSC | 71.44 | USD | 482,313,000 | 0.20 | Jul 10, 2017 |
| JPMorgan Diversified Return U.S. Small Cap Equity ETF | ARCX:JPSE | 47.94 | USD | 466,935,750 | 0.29 | Nov 22, 2016 |
| John Hancock Multifactor Small Cap ETF | ARCX:JHSC | 41.66 | USD | 462,301,537 | 0.42 | Nov 09, 2017 |
| iShares Morningstar Small-Cap Value ETF | ARCX:ISCV | 65.53 | USD | 457,768,180 | 0.06 | Jul 13, 2004 |
| Invesco S&P SmallCap Quality ETF | XNYS:XSHQ | 42.27 | USD | 403,448,805 | 0.29 | Apr 06, 2017 |
| WisdomTree U.S. SmallCap Quality Dividend Growth Fund | XNAS:DGRS | 52.24 | USD | 378,346,575 | 0.38 | Jul 25, 2013 |
| Opus Small Cap Value ETF | BATS:OSCV | 37.92 | USD | 373,174,642 | 0.80 | Jul 18, 2018 |
| iShares MSCI Emerging Markets Small Cap ETF | ARCX:EEMS | 57.47 | USD | 349,395,750 | 0.70 | Aug 18, 2011 |
| Innovator U.S. Small Cap Power Buffer ETF - January | BATS:KJAN | 38.19 | USD | 340,725,230 | 0.79 | Jan 02, 2020 |
| Invesco S&P SmallCap Low Volatility ETF | ARCX:XSLV | 47.45 | USD | 323,917,680 | 0.25 | Feb 15, 2013 |
| iShares MSCI USA Small-Cap Min Vol Factor ETF | BATS:SMMV | 42.21 | USD | 320,254,802 | 0.20 | Sep 09, 2016 |
| First Trust Emerging Markets Small Cap AlphaDEX Fund | XNAS:FEMS | 37.72 | USD | 318,208,678 | 0.80 | Feb 17, 2012 |
| WisdomTree Dynamic Currency Hedged International SmallCap Equity Fund | BATS:DDLS | 34.99 | USD | 305,044,200 | 0.48 | Apr 26, 2016 |
| VictoryShares US Small Cap High Div Volatility Wtd ETF | XNAS:CSB | 61.25 | USD | 293,234,840 | 0.35 | Jul 29, 2015 |
| First Trust Small Cap Growth AlphaDEX Fund | XNAS:FYC | 80.27 | USD | 289,992,134 | 0.70 | Apr 20, 2011 |
| Invesco S&P Smallcap 600 Pure Value ETF | ARCX:RZV | 114.09 | USD | 270,948,372 | 0.35 | Mar 01, 2006 |
| Invesco Exchange-Traded Self-Indexed Fund Trust Invesco Russell 2000 Dynamic Multifactor ETF | XNYS:OMFS | 39.69 | USD | 263,441,082 | 0.39 | Nov 08, 2017 |
| WisdomTree Japan SmallCap Fund | ARCX:DFJ | 75.02 | USD | 250,569,600 | 0.58 | Jun 16, 2006 |
| iShares Morningstar Small-Cap ETF | ARCX:ISCB | 61.35 | USD | 244,288,473 | 0.04 | Jul 13, 2004 |
| Janus Henderson Small Cap Growth Alpha ETF | XNAS:JSML | 69.33 | USD | 228,281,880 | 0.30 | Feb 25, 2016 |
| SPDR SSGA US Small Cap Low Volatility Index ETF | ARCX:SMLV | 130.60 | USD | 219,480,000 | 0.12 | Feb 20, 2013 |
| Invesco S&P SmallCap 600 QVM Multi-factor ETF | ARCX:QVMS | 27.95 | USD | 211,938,858 | 0.15 | Jun 30, 2021 |
| iShares Trust iShares International Developed Small Cap Value Factor ETF | BATS:ISVL | 35.15 | USD | 190,764,490 | 0.30 | Mar 30, 2021 |
| Innovator U.S. Small Cap Power Buffer ETF - April | BATS:KAPR | 33.48 | USD | 178,348,275 | 0.79 | Apr 01, 2020 |
| First Trust Small Cap Value AlphaDEX Fund | XNAS:FYT | 56.20 | USD | 172,220,855 | 0.70 | Apr 20, 2011 |
| WisdomTree Europe SmallCap Dividend Fund | ARCX:DFE | 57.47 | USD | 170,319,420 | 0.58 | Jun 16, 2006 |
| Innovator U.S. Small Cap Power Buffer ETF - July | BATS:KJUL | 30.03 | USD | 167,475,690 | 0.79 | Jul 02, 2020 |
| iShares US Small Cap Value Factor ETF | BATS:SVAL | 33.10 | USD | 158,582,880 | 0.20 | Oct 29, 2020 |
| Innovator U.S. Small Cap Power Buffer ETF - October | BATS:KOCT | 31.19 | USD | 157,991,025 | 0.79 | Oct 01, 2019 |
| Goldman Sachs ETF Trust Goldman Sachs Small Cap Core Equity ETF | ARCX:GSC | 53.50 | USD | 153,468,000 | 0.75 | Jul 31, 2007 |
| iShares Currency Hedged MSCI EAFE Small-Cap ETF | ARCX:HSCZ | 32.54 | USD | 152,425,064 | 0.83 | Jul 21, 2015 |
| Timothy Plan US Small Cap Core ETF | ARCX:TPSC | 40.33 | USD | 146,400,000 | 0.52 | Dec 03, 2019 |
| Harbor Human Capital Factor US Small Cap ETF | ARCX:HAPS | 30.07 | USD | 142,597,000 | 0.60 | Apr 14, 2023 |
| iShares MSCI Brazil Small-Cap ETF | XNAS:EWZS | 10.01 | USD | 137,360,075 | 0.59 | Sep 29, 2010 |
| iShares MSCI Japan Sm Cap | ARCX:SCJ | 73.76 | USD | 128,273,670 | 0.50 | Dec 27, 2007 |
| Defiance R2000 Enhanced Options & 0DTE Income ETF | ARCX:IWMY | 30.43 | USD | 123,396,503 | 0.99 | Nov 01, 2023 |
| ProShares Short Russell2000 | ARCX:RWM | 18.17 | USD | 121,655,574 | 0.95 | Jan 25, 2007 |
| Invesco S&P Smallcap 600 Pure Growth ETF | XNYS:RZG | 50.04 | USD | 115,221,293 | 0.35 | Mar 01, 2006 |
| BNY Mellon US Small Cap Core Equity ETF | ARCX:BKSE | 104.87 | USD | 110,214,000 | 0.04 | Apr 13, 2020 |
| VictoryShares Small Cap Free Cash Flow ETF | XNAS:SFLO | 27.80 | USD | 98,622,736 | 0.49 | Dec 26, 2023 |
| iShares MSCI Europe Small-Cap ETF | XNAS:IEUS | 55.47 | USD | 95,729,040 | 0.41 | Nov 19, 2007 |
| iShares ESG Screened S&P Small-Cap ETF | BATS:XJR | 42.44 | USD | 95,118,526 | 0.12 | Sep 25, 2020 |
| ETC 6 Meridian Small Cap Equity ETF | ARCX:SIXS | 50.62 | USD | 82,133,473 | 0.85 | May 11, 2020 |
| Motley Fool Small-Cap Growth ETF | BATS:TMFS | 37.62 | USD | 76,702,750 | 0.85 | Nov 05, 2018 |
| FT Vest U.S. Small Cap Moderate Buffer ETF - May | BATS:SMAY | 25.36 | USD | 75,477,197 | 0.90 | May 22, 2023 |
| WisdomTree Japan Hedged SmallCap Equity Fund | XNAS:DXJS | 34.31 | USD | 74,141,040 | 0.58 | Jun 28, 2013 |
| ProShares UltraPro Short Russell2000 | ARCX:SRTY | 16.94 | USD | 67,153,159 | 0.95 | Feb 11, 2010 |
| iShares MSCI China Small-Cap ETF | ARCX:ECNS | 25.01 | USD | 64,577,520 | 0.59 | Sep 29, 2010 |
| Invesco S&P SmallCap High Dividend Low Volatility ETF | XNYS:XSHD | 14.39 | USD | 62,208,015 | 0.30 | Dec 01, 2016 |
| Calamos ETF Trust Calamos Russell 2000 Structured Alt Protection ETF July | ARCX:CPRJ | 25.80 | USD | 55,068,774 | 0.69 | |
| EA Series Trust Strive Small-Cap ETF | XNYS:STXK | 32.45 | USD | 54,845,688 | 0.18 | Nov 11, 2022 |
| iShares MSCI United Kingdom Small Cap ETF | BATS:EWUS | 34.84 | USD | 52,406,200 | 0.59 | Jan 26, 2012 |
| WisdomTree Europe Hedged SmallCap Equity Fund | ARCX:EUSC | 39.57 | USD | 47,588,970 | 0.58 | Mar 04, 2015 |
| ProShares Ultra SmallCap600 | ARCX:SAA | 27.72 | USD | 42,717,293 | 0.95 | Jan 25, 2007 |
| American Century ETF Trust Avantis International Small Cap Equity ETF | ARCX:AVDS | 53.20 | USD | 41,352,968 | 0.30 | Jul 20, 2023 |
| VictoryShares US Discovery Enhanced Volatility Wtd ETF | XNAS:CSF | 56.61 | USD | 41,095,343 | 0.42 | Aug 01, 2014 |
| Franklin U.S. Small Cap Multifactor Index ETF | BATS:FLQS | 42.94 | USD | 39,560,000 | 0.35 | Apr 28, 2017 |
| NEOS ETF Trust NEOS Russell 2000 High Income ETF | BATS:IWMI | 49.96 | USD | 38,796,820 | 0.68 | Jun 25, 2024 |
| ETRACS Monthly Pay 2x Leveraged Small Cap High Dividend ETN Series B | ARCX:SMHB | 5.34 | USD | 33,288,000 | 0.85 | Nov 09, 2018 |
| AlphaMark Actively Managed Small Cap ETF | XNAS:SMCP | 32.67 | USD | 32,277,000 | 0.90 | Apr 21, 2015 |
| VictoryShares US Small Cap Volatility Wtd ETF | XNAS:CSA | 76.27 | USD | 31,115,827 | 0.35 | Jul 08, 2015 |
| Hartford Multifactor Small Cap ETF | ARCX:ROSC | 44.62 | USD | 30,031,022 | 0.34 | Mar 24, 2015 |
| Royce Quant Small-Cap Quality Value ETF | XNAS:SQLV | 43.78 | USD | 27,377,114 | 0.60 | Jul 13, 2017 |
| First Trust Small Cap US Equity Select ETF | XNAS:FSGS | 31.25 | USD | 27,109,257 | 0.60 | Jun 26, 2017 |
| FT Vest U.S. Small Cap Moderate Buffer ETF - November | BATS:SNOV | 23.58 | USD | 23,606,144 | 0.90 | Nov 20, 2023 |
| iShares Trust iShares Russell 2000 BuyWrite ETF | BATS:IWMW | 45.73 | USD | 22,874,832 | 0.39 | Mar 19, 2024 |
| American Century ETF Trust Avantis Emerging Markets Small Cap Equity ETF | ARCX:AVEE | 53.28 | USD | 21,416,120 | 0.42 | Nov 09, 2023 |
| VanEck Brazil Small-Cap ETF | ARCX:BRF | 11.72 | USD | 21,058,350 | 0.70 | May 14, 2009 |
| ETRACS 2x Leveraged US Size Factor TR ETN | ARCX:IWML | 22.84 | USD | 19,077,100 | 0.95 | Feb 09, 2021 |
| First Trust Multi-Manager Small Cap Opportunities ETF | ARCX:MMSC | 21.98 | USD | 18,894,037 | 0.95 | Oct 14, 2021 |
| Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF | ARCX:ASHS | 27.99 | USD | 18,051,024 | 0.65 | May 21, 2014 |
| Syntax Stratified SmallCap ETF | ARCX:SSLY | 45.95 | USD | 17,780,000 | 0.40 | May 29, 2020 |
| Pacer US Small Cap Cash Cows Growth Leaders ETF | XNAS:CAFG | 26.20 | USD | 14,835,750 | 0.59 | May 02, 2023 |
| J.P. Morgan Exchange-Traded Fund Trust JPMorgan Active Small Cap Value ETF | ARCX:JPSV | 59.77 | USD | 14,677,000 | 0.74 | Mar 08, 2023 |
| First Trust Active Factor Small Cap ETF | ARCX:AFSM | 31.07 | USD | 14,370,557 | 0.75 | Dec 04, 2019 |
| Texas Capital Texas Small Cap Equity Index ETF | XNAS:TXSS | 29.28 | USD | 13,115,000 | 0.49 | |
| Overlay Shares Small Cap Equity ETF | BATS:OVS | 36.38 | USD | 11,430,018 | 0.88 | Oct 01, 2019 |
| Robinson Alternative Yield Pre-merger SPAC ETF | ARCX:SPAX | 20.38 | USD | 8,146,120 | 0.86 | Jun 24, 2021 |
| First Trust Developed Markets ex-US Small Cap AlphaDEX Fund | XNAS:FDTS | 40.52 | USD | 7,905,079 | 0.80 | Feb 16, 2012 |
| Harbor ETF Trust Harbor AlphaEdge Small Cap Earners ETF | ARCX:EBIT | 33.08 | USD | 7,886,250 | 0.29 | Oct 22, 2008 |
| Global X Funds Global X Russell 2000 Covered Call & Growth ETF | ARCX:RYLG | 23.25 | USD | 7,160,000 | 0.45 | Oct 04, 2022 |
| Nuveen Small Cap Select ETF | ARCX:NSCS | 29.92 | USD | 7,033,125 | 0.86 | Aug 05, 2021 |
| SSGA Active Trust SPDR S&P SmallCap 600 ESG ETF | ARCX:ESIX | 32.38 | USD | 6,840,000 | 0.12 | Jan 10, 2022 |
| JPMorgan Fundamental Data Science Small Core ETF | XNAS:SCDS | 57.72 | USD | 5,815,700 | 0.40 | |
| Federated Hermes ETF Trust Federated Hermes MDT Small Cap Core ETF | ARCX:FSCC | 27.11 | USD | 5,481,533 | 0.36 | Jul 31, 2024 |
| ProShares Short SmallCap600 | ARCX:SBB | 14.16 | USD | 4,900,908 | 0.95 | Jan 25, 2007 |
| Invesco Exchange-Traded Fund Trust II Invesco S&P SmallCap 600 GARP ETF | ARCX:GRPZ | 26.76 | USD | 2,781,570 | 0.35 | Mar 27, 2024 |
| ProShares UltraShort SmallCap600 | ARCX:SDD | 14.34 | USD | 1,497,645 | 0.95 | Jan 25, 2007 |
| Themes US Small Cap Cash Flow Champions ETF | XNAS:SMCF | 32.97 | USD | 870,528 | 0.29 | Mar 13, 2024 |
| ETF Series Solutions AAM Sawgrass US Small Cap Quality Growth ETF | ARCX:SAWS | 20.40 | USD | 758,986 | 0.55 | Jul 31, 2024 |
| Direxion Small Cap Bear 3X Shares | XNYS:TZA | USD | ||||
| FT Vest U.S. Small Cap Moderate Buffer ETF - August | BATS:SAUG | 24.04 | USD | |||
| First Trust Exchange-Traded Fund VIII FT Vest U.S. Small Cap Moderate Buffer ETF - February | BATS:SFEB | 22.16 | USD | |||
| Lattice Strategies Trust Hartford Multifactor International Small Company ETF | BATS:ROIS | 48.38 | USD | |||
| WisdomTree U.S. SmallCap Quality Growth Fund | XNAS:QSML | 28.56 | USD | |||
| First Trust Exchange-Traded Fund VIII FT Vest Laddered Small Cap Moderate Buffer ETF | BATS:BUFS | 21.81 | USD | |||
| SHL Telemedicine Ltd Innovator U.S. Small Cap Power Buffer ETF - June | BATS:KJUN | 27.55 | USD | |||
| Innovator ETFs Trust Innovator US Small Cap Power Buffer ETF - August | BATS:KAUG | 25.67 | USD | |||
| Unified Series Trust OneAscent Small Cap Core ETF | ARCX:OASC | 28.06 | USD | |||
| SHL Telemedicine Ltd Innovator U.S. Small Cap 10 Buffer ETF - Quarterly | BATS:RBUF | 26.57 | USD | |||
| ProShares UltraShort Russell2000 | ARCX:TWM | 41.56 | USD |
We acknowledge that many of these ETFs are not necessarily considered by some to be "smart beta" ETFs. Again, we are including these small cap ETFs in our discussion of smart beta ETFs because "size" is probably the most well documented and agreed upon factor that leads to one ETF outperforming another.
Notable small cap ETFs
IJR is one of the biggest and oldest of the small cap ETFs. It tracks the S&P 600 Small Cap Index, one of the oldest small cap indices.
IWM is also one of the biggest and oldest of the small cap ETFs. It tracks the Russell 2000 Index, another one of the oldest small cap indices.
Does small cap investing outperform?
As mentioned above "size" is one of the most well established factors identified during academic research that can lead to a stock outperforming the market. Most of the best performing ETFs that have been around at least eight years are small and mid cap stock ETFs, or are total market ETFs that by design include small and mid cap stocks.
The market usually goes in cycles where for periods of time, small cap stocks will outperform large cap stocks, and then for other periods of time large cap stocks will outperform small cap stocks.