Zacks Small/Mid Cap ETF
SMIZ
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- Zacks Trust (SMIZ) is an exchange-traded fund that seeks to generate positive risk-adjusted returns by investing primarily in equity securities of small- and mid-cap companies listed on U.S. stock exchanges or derivatives linked to such securities; the portfolio typically comprises approximately 200 stocks selected from the Russell Midcap Index and Russell 2000 Index constituents, emphasizing those with strong fundamentals, growth potential, favorable valuations, and upward earnings estimate revisions via the proprietary Zacks Multi-factor Alpha model; allocation targets 30%-70% in small-cap and 30%-70% in mid-cap equities, with weekly rebalancing and daily reviews for diversification and low correlation to broader benchmarks like the Russell 2500 Index. Operated within the U.S. equity asset class and traded on the NYSE Arca exchange under ticker SMIZ (CUSIP: 98888G204), the fund employs active management combining quantitative screening, qualitative analysis, and bottom-up fundamental evaluation using Zacks' proprietary risk optimizer; top holdings as of mid-2025 include EMCOR Group Inc. (EME), Northern Trust Corp. (NTRS), and Comfort Systems USA Inc. (FIX), with sector exposures led by finance (22.48%), computer and technology (17.83%), and medical (13.87%); the net expense ratio stands at 0.55% (subsidized until at least April 1, 2026). Zacks Trust forms part of the ETF suite managed by Zacks Investment Management, Inc., a wholly owned subsidiary of Zacks Investment Research established in 1992 and headquartered at 101 N. Wacker Drive, Chicago, Illinois; the firm focuses on data-driven strategies for financial intermediaries and institutions, leveraging over three decades of earnings research expertise. Launched on October 3, 2023, as the second ETF in Zacks Investment Management's actively managed lineup following the Zacks Earnings Consistent Portfolio ETF (ZECP) in 2021, SMIZ has since demonstrated competitive performance, with cumulative returns since inception of approximately 20% as of June 30, 2025, outperforming the Russell 2500 Index; in December 2024, Zacks Investment Management expanded its ETF offerings with the launch of the Zacks Focus Growth ETF (GROZ), targeting large-cap growth stocks via similar multi-factor processes, reflecting ongoing product innovation amid rising demand for specialized equity strategies.