At a glance
SIXS charges 0.5% a year, above the 0.45% average of the 6 funds most like it (the 5th cheapest of 7). It has $126.8M in assets, the 5th largest of that group; it paid 1.9% of its price in distributions over the past 12 months, monthly. Over the past year it returned +17.1% with distributions reinvested (S&P 500: +11.5%), 5th of those 7 funds; over three years it returned +13.6% a year. At its worst it fell 27.7% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 22 months after the low. Its ten largest positions make up 18.6% of the fund, out of 83 in all.
The short version
ETC 6 Meridian Small Cap Equity ETF (SIXS) is an actively managed fund from Exchange Traded Concepts. It holds about 83 US small-company stocks chosen by a quantitative model. The model drops weaker-profit companies, then favors cheaper stocks that move less with the market. Its one-year beta was 0.28 as of October 27, 2026. Its 0.50% expense ratio is above the 0.45% average of similar funds and double the 0.25% charged by XSLV.
Price history
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SIXS +17.1% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| SIXS official prospectus, to Dec 31, 2024 | — | +4.56% | — | +7.76% | — | +13.70% |
| SIXS price data to Oct 27, 2026 | +14.1% | +17.1% | +13.6% | +4.9% | — | +6.5% |
- Over the year to Oct 27, 2026, SIXS returned +17.1%, 5th of 7 among similar funds.
- Its 5-year annualized return was +4.9%.
- Its worst full calendar year was 2022 (-18.5%); its best was 2023 (+14.9%).
- The deepest fall in its price history was 27.7% (Jan 4, 2022 to Sep 30, 2022), recovered by Jul 30, 2024.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +14.1% | — |
| 2025 | +4.6% | +4.56% |
| 2024 | +5.8% | +5.85% |
| 2023 | +14.9% | +14.96% |
| 2022 | -18.5% | -18.52% |
| 2021 | — | +40.17% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 24.9% over that stretch · deepest drop along the way 27.7%, back to its old high 22 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.8700 | |
| 2025 | $0.8200 | +53.9% |
| 2024 | $0.5327 | -29.0% |
| 2023 | $0.7500 | +29.3% |
| 2022 | $0.5800 |
What's inside
As of May 31, 2026, the fund held 83 securities; the ten largest made up 18.6% of assets.
| Holding | Weight | |
|---|---|---|
| HORACE MANN EDUCATORS CORPORATION | 2.39% | |
| ENACT HOLDINGS, INC. | 2.25% | |
| INNOVIVA, INC. | 2.15% | |
| HCI GROUP, INC. | 2.01% | |
| CAL-MAINE FOODS, INC. | 1.92% | |
| PITNEY BOWES INC. | 1.68% | |
| Progyny Inc | 1.63% | |
| STONEX GROUP INC. | 1.56% | |
| NETSCOUT SYSTEMS, INC. | 1.56% | |
| CATALYST PHARMACEUTICALS, INC. | 1.43% | |
| WHITESTONE REIT | 1.42% | |
| CARS.COM INC. | 1.40% | |
| SCANSOURCE, INC. | 1.38% | |
| BREAD FINANCIAL HOLDINGS, INC. | 1.35% | |
| EZCORP, INC. | 1.34% |
By country
United States 99.79%By asset type
Stocks 99.79%What changed recently
- Over the three months to May 31, 2026, investors added a net $4.7M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -1.55%, +5.70%, -4.09%.
How it works
SIXS doesn't track an index. Its sub-adviser, Madison Avenue Financial Solutions, puts at least 80% of net assets into small-company stocks. It defines those as companies within the size range of the S&P SmallCap 600 Index, which ran from $335.71 million to $12.46 billion in market value as of March 3, 2026. The fund can also own larger companies and real estate investment trusts (REITs).
Stock picking happens in two steps. First, the model scores companies on profitability, growth and ability to pay their debts, and removes the lowest scorers. Next, it ranks the rest on factors including beta and value. Beta measures how much a stock moves with the broader market, and lower beta scores better. Value compares a company's fundamentals with its market price. The top-ranked stocks go in, and a stock gets more weight when it ranks highly on more factors.
The sub-adviser expects to trade about twice a year, but portfolio turnover was 82%, according to the prospectus. As of May 31, 2026, the fund held 83 stocks, and the top 10 made up 18.6% of assets. The largest were Horace Mann Educators (2.4%), Enact Holdings (2.2%) and Innoviva (2.1%). The fund held no derivatives and 0.27% in cash. Results depend on the models and data working as intended.
What it really costs
- SIXS charges 0.5% a year, versus an average of 0.45% for the similar funds below (5th of 7, cheapest first).
- Of that, 0.31% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $51 in the first year and $628 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| SIXS | $51 | $160 | $280 | $628 |
In a retirement portfolio
It is a small, actively managed small-cap fund that fell 27.7% in 2022, so it fits better as a smaller slice next to broader core holdings.
SIXS could add US small-company stocks with a tilt toward profitable, cheaper, lower-beta companies. It launched in May 2020, so it has no record for the 2008 crisis or the 2020 COVID crash. In the 2022 bear market it fell 27.7% from January 4 to September 30, 2022. It didn't regain that peak until July 30, 2024, 22 months later. Its worst calendar year was 2022, at -18.5%. A retiree selling shares to cover spending in a year like that would have locked in losses. The trailing yield was 1.9% as of October 27, 2026, paid monthly, so income is a small part of the return. Under the SEC's standard $10,000 example, costs come to $51 after one year and $628 after 10 years. Past results don't predict future returns, and a plan should weigh the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting US small-cap stocks screened for profitability, value and lower beta, rather than a plain small-cap index.
- People who like monthly payouts alongside growth potential; the trailing yield was 1.9% as of October 27, 2026.
- Those comfortable with a model-driven fund of about 83 stocks, where the top 10 made up just 18.6% as of May 31, 2026.
Look elsewhere if
- Cost-focused investors: the 0.50% expense ratio is double the 0.25% charged by Invesco S&P SmallCap Low Volatility ETF (XSLV).
- Anyone who couldn't sit through a drop like 2022's 27.7% decline, which took 22 months to recover.
- Investors who want strong gains in fast rallies; the prospectus warns low-beta stocks tend to lag when markets rise quickly.
Close alternatives
Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| SIXS this fund | — | 0.5% | $126.8M | +17.1% | +13.6% |
| XSLV Invesco S&P SmallCap Low Volatility ETF | 23% | 0.25% | $250.6M | +13.0% | +13.0% |
| SIXL ETC 6 Meridian Low Beta Equity ETF | 19% | 0.47% | $204.2M | +11.0% | +12.1% |
| ROSC Hartford Multifactor Small Cap ETF | 17% | 0.34% | $61.5M | +24.4% | +19.9% |
| FYT First Trust Small Cap Value AlphaDEX Fund | 16% | 0.72% | $194.5M | +27.4% | +18.4% |
| GRPZ Invesco S&P SmallCap 600 GARP ETF | 15% | 0.35% | $3.3M | +17.6% | — |
| DSMC Distillate Small/Mid Cash Flow ETF | 14% | 0.55% | $129.1M | +26.7% | +17.3% |
Questions investors ask
What does SIXS invest in?
SIXS invests mainly in US small-company stocks, with at least 80% of net assets in companies within the S&P SmallCap 600 Index's size range. Its sub-adviser, Madison Avenue Financial Solutions, uses a quantitative model that drops weaker-profit companies and favors cheaper, lower-beta stocks. As of May 31, 2026, it held 83 stocks. The largest were Horace Mann Educators (2.4%), Enact Holdings (2.2%), Innoviva (2.1%) and HCI Group (2.0%).
Does SIXS pay monthly dividends?
Yes. SIXS pays distributions monthly. Over the 12 months to October 27, 2026, it paid about $1.08 per share, a trailing yield of 1.9%. That yield is modest, so most of the fund's return has come from price changes rather than income. Payments depend on the dividends its holdings pay, so they can change and aren't guaranteed.
SIXS vs XSLV: what's the difference?
XSLV, the Invesco S&P SmallCap Low Volatility ETF, costs less: 0.25% a year versus 0.50% for SIXS. It's the closest match by holdings, sharing about 23% of them. SIXS is actively managed and adds profitability and value screens to its low-beta tilt. As of October 27, 2026, SIXS returned 17.1% over one year and 13.6% a year over three years. XSLV returned 13% over both periods. XSLV is also larger, with about $251 million in net assets as of August 31, 2026.
Is SIXS less risky than other small-cap funds?
It has moved less with the market at times, but it can still fall sharply. Its one-year beta, a measure of how closely it tracks market swings, was 0.28 as of October 27, 2026, and its one-year volatility was 13%. Still, in the 2022 bear market it dropped 27.7% and didn't recover until July 2024. The prospectus also warns that low-beta stocks tend to lag in fast-rising markets, and that the fund depends on quantitative models working as designed.
What is the expense ratio of SIXS?
SIXS charges 0.50% a year, which includes a 0.31% management fee, according to its prospectus filed March 27, 2026. That's above the 0.45% average of similar funds. The SEC's standard example assumes $10,000 invested and a 5% annual return. On that basis, costs come to about $51 after one year, $280 after five years and $628 after 10 years. Portfolio turnover of 82% can also add trading costs that the expense ratio doesn't include.