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Launched · SEC filings

Themes US Small Cap Cash Flow Champions ETF

SMCFNasdaqThemesC

$38.77−0.13 (−0.34%) past 5 days

At close: Sep 21, 2026, 4:00 PM ET

C40/ 100

Rank 21 of 27 in US Quality Index

C40/100Rank 21 of 27inUS Quality Index
5D price: down, 5 points from 38.90 to 38.77. Range 38.77 to 38.77. Use the arrow keys to read each point.38.8038.8338.8538.8838.90
Market opens at 9:30 AM ET.
Expense ratio
0.29%
Fund size
$3M
1Y total return
+20.4%
Yield · Last 12 months
3.30%
Holdings
75
Avg volume · 30D
660 sh
52W range
low $31.82high $41.20
Launched
Filings
SEC EDGAR

The ETF.net SMCF Grade

As of

C

Score 40 out of 100

Category
US Quality Index⁠
Rank
21 of 27
Six-pillar profile for SMCF. Scores out of 100: Cost 60, Risk 47, Mission 63, Tradability 17, Holdings 53, Durability 16. Strongest: Mission (63). Weakest: Durability (16). Leans toward Mission and Cost.

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.

Very small fund, grade capped at C.

The cap holds the Score at 40 or below, so B and A are out of reach.

The pillars earned
49
This cap took
−9
Published Score
40 Grade C

  • Cost

    The fund’s net expense ratio, ranked against its category.
    B60 out of 100
    Rank 11 of 27

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    B63 out of 100
    Rank 18 of 20

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C47 out of 100
    Rank 16 of 27

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    F17 out of 100
    Rank 25 of 27

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C53 out of 100
    Rank 15 of 27

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    F16 out of 100
    Rank 25 of 27

Our read on SMCF

ETF.net Research

In short

CMost quality ETFs buy big, profitable megacaps. SMCF runs the cash flow test down in small caps: no history of positive free cash flow yield, no entry, then rank on next year's estimate and hold the top 75.

Stated mandate

The fund seeks to track the Solactive US Small Cap Cash Flow Champions Index, which selects the top 75 small-capitalization companies with the highest three years of positive cash flow yield.

Why people hold it

  • One hard screen: free cash flow divided by enterprise value. Years of positive cash flow yield are required just to be eligible, so cash burners never reach the ranking.sec.gov
  • Ranks on next year's estimated cash flow yield rather than a trailing snapshot, and a buffer rule keeps existing names in while they stay in the top 200 to limit index turnover.sec.gov
  • The hunting ground is the bottom 15% of US market cap, so this stays a small-cap sleeve instead of quietly drifting up into the familiar large-cap quality names.sec.gov
  • 0.29% is mid-pack for US quality-factor funds, and holdings are free-float market cap weighted, not equal weighted into the thinnest corners of small cap.sec.gov

Worth knowing

  • That mid-pack fee still loses to the large-cap quality giants: JQUA charges 0.12%, QUAL and FQAL 0.15%. You pay up for the small-cap version of the idea.
  • Small asset base and thin trading, so spreads run wider than the category's heavyweights and there is less scale behind the fund.
  • Non-diversified, and a cash-flow-yield ranking clusters wherever cash flow is cheapest, so the sector mix can lean heavily in one direction between rebalances.sec.gov

SMCF Holdings

Holdings pillarC53 out of 100Rank 15 of 27 in US Quality IndexAs of
Asset class
Stocks
Holdings
75
Top-10 weight
36%
Largest holding
DINO5.5%

Sectors

  • Financials55.1%
  • Industrials10.7%
  • Technology9.6%
  • Energy9.2%
  • Health Care7.7%
  • Consumer Discretionary3.2%
  • Materials2.1%
  • Consumer Staples1.1%
  • Communication1.0%
  • Real Estate0.5%

Geography

  • United States85.01%
  • Bermuda8.66%
  • Ireland2.22%
  • Monaco1.58%
  • United Kingdom1.11%
  • Puerto Rico0.71%
  • United Arab Emirates0.66%
  • Israel0.05%
The fund’s holdings, weight-ordered — page 1 of 2.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1DINOHF Sinclair Corp5.47%1,654$192K234
2RGAReinsurance Group of America Inc5.21%742$182K194
3RNRRenaissanceRe Holdings Ltd4.39%470$154K208
4MLIMueller Industries Inc4.15%2,419$145K204
5FNFFidelity National Financial Inc3.53%2,905$123K166
6UMBFUMB Financial Corp3.15%820$110K160
7JXNJackson Financial Inc2.99%789$105K139
8THGHanover Insurance Group Inc/The2.57%396$90K181
9OSCROscar Health Inc2.44%2,655$85.3K132
10SNEXStoneX Group Inc2.22%1,158$77.6K153
11ALKSAlkermes PLC2.20%1,779$77.2K148
12BLDRBuilders FirstSource Inc2.04%1,229$71.4K130
13MTGMGIC Investment Corp2.00%2,362$70.1K171
14LYFTLyft Inc1.89%4,378$66.1K161
15AUBAtlantic Union Bankshares Corp1.79%1,608$62.8K125

Showing 1–15 of 30 holdings

SMCF Performance

Launched Dec 13, 2023

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.Not enough history yet.Not enough history yet.
SMCF$12,039
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,848
Sep 25, 2025 to Sep 25, 2026. SMCF $12,039. SPY $11,848. Use the arrow keys to read each point.$10,000$11,000$12,000Sep 2025Mar 2026Sep 2026

Sep 25, 2025 – Sep 25, 2026

Returns run to the Sep 25, 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.

As of
Trailing total return for SMCF. Periods over one year show the average yearly return.
PeriodSMCF
Year to date+18.4%
1 month−2.7%
3 months+1.2%
1 year+20.4%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
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 SMCF
YearReturn barSMCF
2026 YTD+18.4%
2025+9.5%
2024+16.3%
2023+4.5%

Since listing, Dec 13, 2023

SMCF in the news

SMCF 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 Sep 25, 2026.
3.30%Last 12 months
Payout per share
$1.28Last 12 months
Last payment
$1.28 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution history

Through Sep 25, 2026

One bar per payment. 2 payments from 2024 to 2026 YTD. Dec 24, 2024 $0.19; Dec 18, 2025 $1.28. Use the arrow keys to read each point.202420252026YTD
Ex-datePay dateAmount per share
Dec 18, 2025Dec 19, 2025$1.28
Dec 24, 2024Dec 26, 2024$0.19

SMCF Risk

Risk pillarC47 out of 100Rank 16 of 27 in US Quality Index
How much the fund’s monthly returns vary, scaled to a year.
17.7%
Annualised · 33 months to Sep 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.
0.68
vs 3-month T-bills · 33 months to Sep 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.
−28.5%
33 months · trough Apr 2025
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.
0.86
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.

SMCF Cost

SMCF cost

$5,952

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

  • SMCF 0.29%

    $5,952

$10,000
30 years

Cost over time

  • SMCF 0.29%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K051015202530SMCF $5,952

Year by year

YearSMCF
10$527
20$2,044
30$5,952