SMCF vs HWAY
Comparison between THEMES US SMALL CAP CASH FLOW CHAMPIONS ETF (SMCF, ETF) and THEMES US INFRASTRUCTURE ETF (HWAY, ETF).
SMCF vs HWAY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
SMCF
$3M
HWAY
$3M
Expense Ratio
SMCF
0.29%
HWAY
0.29%
Max Drawdown
SMCF
28.92%
Winner
HWAY
26.12%
Sharpe Ratio
Winner
SMCF
1.70
HWAY
1.68
5Y Beta
Winner
SMCF
0.95
HWAY
1.03
P/E Ratio
Winner
SMCF
13.33
HWAY
31.82
Forward P/E
Winner
SMCF
10.93
HWAY
23.67
5Y EPS CAGR
Winner
SMCF
19.99%
HWAY
17.50%
Debt to Equity
SMCF
N/A
HWAY
31.44%
P/S Ratio
Winner
SMCF
1.47
HWAY
2.62
P/B Ratio
Winner
SMCF
1.70
HWAY
4.86
SMCF vs HWAY - Holdings Comparison
SMCF and HWAY have 5 common holdings. Overlap is 1.59%
SMCF's top 25 holdings weight is 68.01%. HWAY's top 25 holdings weight is 71.56%.
| Rank | SMCF | HWAY |
|---|---|---|
| #1 | EAST WEST BANCORP INC (EWBC) - 5.36% | QUANTA SERVICES INC (PWR) - 5.49% |
| #2 | NEXTPOWER INC CLASS A (NXT) - 5.06% | CATERPILLAR INC (CAT) - 4.96% |
| #3 | MUELLER INDUSTRIES INC (MLI) - 4.57% | UNION PACIFIC CORP (UNP) - 4.64% |
| #4 | REINSURANCE GROUP OF AMERICA INC (RGA) - 4.38% | CSX CORP (CSX) - 4.57% |
| #5 | RENAISSANCERE HOLDINGS LTD (RNR) - 4.07% | EMERSON ELECTRIC CO (EMR) - 4.17% |
| #6 | APA CORP (APA) - 4.02% | PARKER HANNIFIN CORP (PH) - 3.81% |
| #7 | FIDELITY NATIONAL FINANCIAL INC (FNF) - 3.91% | NORFOLK SOUTHERN CORP (NSC) - 3.79% |
| #8 | HF SINCLAIR CORP (DINO) - 3.30% | DEERE & CO (DE) - 3.68% |
| #9 | UMB FINANCIAL CORP (UMBF) - 3.05% | CRH PLC (CRH) - 3.61% |
| #10 | BUILDERS FIRSTSOURCE INC (BLDR) - 2.54% | COMFORT SYSTEMS USA INC (FIX) - 3.48% |
| #11 | CHORD ENERGY CORP ORDINARY SHARES NEW (CHRD) - 2.45% | UNITED RENTALS INC (URI) - 3.19% |
| #12 | n/a (WFRD) - 2.41% | NUCOR CORP (NUE) - 2.93% |
| #13 | JACKSON FINANCIAL INC (JXN) - 2.25% | W.W. GRAINGER INC (GWW) - 2.83% |
| #14 | THE HANOVER INSURANCE GROUP INC (THG) - 2.18% | FASTENAL CO (FAST) - 2.69% |
| #15 | FIRST BANCORP (FBP) - 1.96% | WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP (WAB) - 2.33% |
| #16 | ALKERMES PLC (ALKS) - 1.82% | EMCOR GROUP INC (EME) - 2.00% |
| #17 | MGIC INVESTMENT CORP (MTG) - 1.81% | VULCAN MATERIALS CO (VMC) - 1.85% |
| #18 | CLEAR SECURE INC ORDINARY SHARES CLASS A (YOU) - 1.72% | MARTIN MARIETTA MATERIALS INC (MLM) - 1.81% |
| #19 | SELECTIVE INSURANCE GROUP INC (SIGI) - 1.68% | STEEL DYNAMICS INC (STLD) - 1.79% |
| #20 | GARRETT MOTION INC ORDINARY SHARES NEW (GTX) - 1.67% | DOVER CORP (DOV) - 1.52% |
| #21 | BANK OZK (OZK) - 1.62% | XYLEM INC (XYL) - 1.44% |
| #22 | WHITE MOUNTAINS INSURANCE GROUP LTD (WTM) - 1.62% | AMRIZE LTD REGISTERED SHARE (AMRZ) - 1.38% |
| #23 | HESS MIDSTREAM LP CLASS A (HESM) - 1.61% | STERLING INFRASTRUCTURE INC (STRL) - 1.22% |
| #24 | MURPHY OIL CORP (MUR) - 1.54% | ATI INC (ATI) - 1.22% |
| #25 | EASTERN BANKSHARES INC ORDINARY SHARES (EBC) - 1.41% | CARPENTER TECHNOLOGY CORP (CRS) - 1.16% |
| Total Holdings | 75 | 102 |
SMCF vs HWAY - Historical Returns
Returns include dividend reinvestment.
1M
SMCF
-2.08%
Winner
HWAY
+0.23%
3M
SMCF
+7.70%
Winner
HWAY
+8.96%
6M
SMCF
+14.25%
Winner
HWAY
+20.35%
1Y
SMCF
+34.58%
Winner
HWAY
+41.40%
Max(CAGR)
SMCF
+18.40%
Winner
HWAY
+26.95%
SMCF vs HWAY - Annual Returns (2023 - 2026)
Returns include dividend reinvestment.
| Year | SMCF | HWAY |
|---|---|---|
| 2026 | +13.43% | +19.40% |
| 2025 | +9.15% | +20.79% |
| 2024 | +16.26% | +3.38% |
| 2023 | +4.47% | N/A |
SMCF vs HWAY Drawdown Comparison
The maximum drawdown for SMCF was -28.49%, occurring on Apr 8, 2025. Recovery took 260 trading sessions.
The maximum drawdown for HWAY was -25.96%, occurring on Apr 8, 2025. Recovery took 164 trading sessions.
The current SMCF drawdown is -2.08%. The current HWAY drawdown is -2.12%.
| Rank | SMCF | HWAY |
|---|---|---|
| #1 | -28.49% Nov 25, 2024 - Dec 10, 2025 | -25.96% Nov 25, 2024 - Jul 25, 2025 |
| #2 | -9.67% Jul 31, 2024 - Oct 11, 2024 | -12.63% Feb 20, 2026 - Apr 23, 2026 |
| #3 | -7.15% Mar 28, 2024 - Jul 16, 2024 | -7.19% May 6, 2026 - May 19, 2026 |
| #4 | -6.60% Feb 6, 2026 - Apr 16, 2026 | -5.78% Oct 29, 2025 - Dec 3, 2025 |
| #5 | -5.31% Dec 26, 2023 - Feb 12, 2024 | -3.97% Jul 25, 2025 - Aug 13, 2025 |
| #6 | -4.01% Oct 17, 2024 - Nov 6, 2024 | -3.77% Dec 11, 2025 - Jan 6, 2026 |
| #7 | -2.73% Dec 11, 2025 - Jan 6, 2026 | -3.51% Nov 6, 2024 - Nov 22, 2024 |
| #8 | -2.59% May 5, 2026 - May 13, 2026 | -3.47% Oct 8, 2025 - Oct 21, 2025 |
| #9 | -2.53% Jul 16, 2024 - Jul 25, 2024 | -3.12% Oct 18, 2024 - Nov 6, 2024 |
| #10 | -2.29% Feb 12, 2024 - Feb 15, 2024 | -2.79% Sep 19, 2024 - Oct 11, 2024 |
| #11 | -2.00% Nov 11, 2024 - Nov 20, 2024 | -2.43% Aug 22, 2025 - Sep 22, 2025 |
| #12 | -1.73% Feb 15, 2024 - Feb 23, 2024 | -2.39% Apr 23, 2026 - Apr 30, 2026 |
| #13 | -1.72% Jan 21, 2026 - Jan 29, 2026 | -2.29% Aug 13, 2025 - Aug 22, 2025 |
| #14 | -1.53% Jan 9, 2026 - Jan 21, 2026 | -2.19% Feb 11, 2026 - Feb 20, 2026 |
| #15 | -1.51% Dec 19, 2023 - Dec 22, 2023 | -2.18% Jan 6, 2026 - Jan 9, 2026 |
Correlation
Correlation between SMCF and HWAY is 0.96 which considered as a very strong positive correlation - the stocks move almost identically together.
0.96
-101
Dividend Comparison (2024 - 2025)
SMCF vs HWAY dividend yield comparison.
| Year | SMCF | HWAY |
|---|---|---|
| 2025 | 3.91% | 1.29% |
| 2024 | 0.61% | 0.22% |
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