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Launched · SEC filings

First Trust Horizon Managed Volatility Small/Mid ETF

HSMVNYSE ArcaFirst TrustC

$36.470.00 (+0.01%)

As of Nov 2, 2026, 10:00 AM ET

C40/ 100

Rank 31 of 47 in US Active Small/Mid-Cap

C40/100Rank 31 of 47inUS Active Small/Mid-Cap
Intraday session: up, 1 prints from 36.47 to 36.47. Range 36.47 to 36.47. Use the arrow keys to read each point.36.4736.4736.4736.4810 AM12 PM2 PM4 PM
Expense ratio
0.80%
Fund size
$5M
1Y total return
+8.6%
Yield · Last 12 months
4.46%
Holdings
152
Avg volume · 30D
14.9K sh
52W range
low $35.00high $39.82
Launched
Filings
SEC EDGAR

The ETF.net HSMV Grade

Based on 5 of 6 pillars

C

Score 40 out of 100

Category
US Active Small/Mid-Cap⁠
Rank
31 of 47
Six-pillar profile for HSMV. Scores out of 100: Cost 12, Risk 63, Mission not scored, Tradability 55, Holdings 60, Durability 54. Strongest: Risk (63). Weakest: Cost (12). Based on 5 of 6 pillars.

Score 40 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F12 out of 100
    Rank 41 of 47

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B63 out of 100
    Rank 14 of 44

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B55 out of 100
    Rank 18 of 47

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B60 out of 100
    Rank 22 of 47

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C54 out of 100
    Rank 21 of 47

Our read on HSMV

ETF.net Research

In short

CSmall and mid caps are where the swings live. HSMV screens them for low expected volatility, holding roughly 200 names picked by Horizon rather than an index. Small/mid exposure with the sharp edges sanded down.

Stated mandate

The Fund seeks capital appreciation by investing at least 80% of its net assets in U.S.-listed small- and/or mid-capitalization common stocks that Horizon believes have low future expected volatility.

Why people hold it

  • Low-volatility screening applied where volatility bites: at least 80% of net assets go to US small/mid cap stocks Horizon judges to have low future expected volatility.ftportfolios.com
  • Actively managed, so the low-vol call is a live judgment by the sub-adviser instead of a rule waiting on the next scheduled index rebalance.ftportfolios.com
  • Roughly 200 holdings spread the bet across the small/mid universe, and the fund distributes on a quarterly schedule.

Worth knowing

  • The 0.80% expense ratio runs above the typical actively managed US equity fund and several times the cost of cheap core options like DFAU (0.12%) and AVLC (0.15%).
  • A small asset base and thin trading tend to mean wider bid-ask spreads than household-name ETFs, which matters most on larger orders.
  • Low expected volatility is a target, not a floor. This is still a stock fund that moves with small and mid caps, and it has only been trading since 2020.

HSMV Performance

Launched Apr 6, 2020

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.
HSMV$10,858
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. HSMV $10,858. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for HSMV. Periods over one year show the average yearly return.
PeriodHSMV
Year to date+6.1%
1 month+3.5%
3 months−4.0%
1 year+8.6%
3 yearsper year+11.3%
5 yearsper year+3.8%
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for HSMV
YearReturn barHSMV
2026 YTD+6.1%
2025+1.6%
2024+13.2%
2023+5.0%
2022−9.4%
2021+23.7%
2020+34.7%

History from Apr 7, 2020

HSMV in the news

HSMV Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
4.46%Last 12 months
Payout per share
$1.63Last 12 months
Last payment
$1.05 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2020–2026

One bar per payment. 26 payments from 2020 to 2026 YTD. Jun 25, 2020 $0.0083; Sep 24, 2020 $0.08; Dec 24, 2020 $0.14; Mar 25, 2021 $0.02; Jun 24, 2021 $0.06; Sep 23, 2021 $0.04; Dec 23, 2021 $0.15; Mar 25, 2022 $0.02; Jun 24, 2022 $0.08; Sep 23, 2022 $0.12; Dec 23, 2022 $0.17; Mar 24, 2023 $0.08; Jun 27, 2023 $0.10; Sep 22, 2023 $0.10; Dec 22, 2023 $0.18; Mar 21, 2024 $0.04; Jun 27, 2024 $0.11; Sep 26, 2024 $0.12; Dec 13, 2024 $0.25; Mar 27, 2025 $0.10; Jun 26, 2025 $0.15; Sep 25, 2025 $0.15; Dec 12, 2025 $0.31; Mar 26, 2026 $0.12; Jun 25, 2026 $0.15; Sep 24, 2026 $1.05. Use the arrow keys to read each point.2020202120222023202420252026YTD
Ex-datePay dateAmount per share
Sep 24, 2026Sep 30, 2026$1.05
Jun 25, 2026Jun 30, 2026$0.15
Mar 26, 2026Mar 31, 2026$0.12
Dec 12, 2025Dec 31, 2025$0.31
Sep 25, 2025Sep 30, 2025$0.15
Jun 26, 2025Jun 30, 2025$0.15
Mar 27, 2025Mar 31, 2025$0.10
Dec 13, 2024Dec 31, 2024$0.25
Sep 26, 2024Sep 30, 2024$0.12
Jun 27, 2024Jun 28, 2024$0.11
Mar 21, 2024Mar 28, 2024$0.04
Dec 22, 2023Dec 29, 2023$0.18

See all 26 payments⁠

$10,000 in HSMV 5 years ago paid $1,029 in dividends.⁠

HSMV Risk

Risk pillarB63 out of 100Rank 14 of 44 in US Active Small/Mid-Cap
How much the fund’s monthly returns vary, scaled to a year.
12.7%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.56
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−19.2%
Trough Sep 2022
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.59
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

HSMV Cost

Compare HSMV and AVMC

Overpaying vs AVMC, cheapest in US Active Small/Mid-Cap

$11,597

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • HSMV 0.80%

    $15,346

  • AVMC 0.18% Cheapest

    $3,749

$10,000
30 years

Cost over time

  • HSMV 0.80%
  • AVMC 0.18%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530HSMV $15,346AVMC $3,749

Year by year

YearHSMVAVMCOverpaying
10$1,422$328$1,094
20$5,393$1,281$4,112
30$15,346$3,749$11,597

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