The Inspire Small/Mid Cap ETF (ISMD), a smart beta fund launched in 2017, manages over $220 million by tracking an equal-weight index of small and mid-cap equities with a positive 'Inspire Impact Score.' With an expense ratio of 0.57% and a 1-year return of approximately 4.53% (as of 09/02/2025), ISMD offers diversified exposure, primarily to Financials, Industrials, and IT. While positioned for potential outperformance of the All Cap Blend segment, its cost is notably higher compared to larger ESG-focused alternatives like ESGV and ESGU, which boast significantly lower expense ratios and multi-billion dollar AUM.
The Inspire Small/Mid Cap ETF (ISMD) is a smart beta fund with $220.18 million in assets, offering exposure to an equal-weighted index of domestic small and mid-cap equities screened by a proprietary 'Inspire Impact Score.' Its performance is characterized by a one-year return of approximately 4.53% as of early September 2025, a beta of 1.06, and a three-year standard deviation of 21.17%, indicating slightly higher volatility than the broader market. The fund is highly diversified with 504 holdings, mitigating single-stock risk, and its top ten holdings constitute only 3.15% of total assets. Sector exposure is led by Financials at 18.7%. A critical consideration for investors is ISMD's 0.57% expense ratio. While described as 'on par' with peers, it is substantially higher than the fees charged by much larger, multi-billion dollar ESG-focused alternatives like Vanguard's ESGV (0.09%) and iShares' ESGU (0.15%), presenting a significant cost disadvantage and a performance hurdle for ISMD.
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