At a glance
SMTH charges 0.59% a year, above the 0.05% average of the 7 funds most like it (the most expensive of 8). It has $3.02B in assets, the 8th largest of that group; it paid 4.46% of its price in distributions over the past 12 months, monthly. Over the past year it returned −1.5% with distributions reinvested, 7th of those 8 funds. Its ten largest positions make up 37.6% of the fund, out of 924 in all.
The short version
ALPS | Smith Core Plus Bond ETF (SMTH) is an actively managed bond fund. Its sub-adviser, Smith Capital Investors, picks the bonds and aims to beat the Bloomberg U.S. Aggregate Bond Index after fees. The fund mixes Treasuries, corporate bonds and mortgage-backed securities, and it can hold just under 20% in high-yield ("junk") bonds. Its 0.59% expense ratio is far above the 0.03% charged by index funds such as AGG and BND.
Price history
The interactive chart needs JavaScript.
SMTH -1.5% 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 | |
|---|---|---|---|---|---|---|
| SMTH official prospectus, to Dec 31, 2025 | — | +7.07% | — | — | — | +6.59% |
| Index50 index, same period | — | +7.30% | — | — | — | +5.40% |
| SMTH price data to Oct 27, 2026 | -1.1% | -1.5% | — | — | — | +4.1% |
- Over the year to Oct 27, 2026, SMTH returned -1.5%, 7th of 8 among similar funds.
- Its worst full calendar year was 2024 (+2.7%); its best was 2025 (+6.9%).
- The deepest fall in its price history was 4.6% (Feb 27, 2026 to Oct 7, 2026), not yet recovered.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -1.1% | — |
| 2025 | +6.9% | +7.07% |
| 2024 | +2.7% | +2.68% |
| 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 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.9200 | |
| 2025 | $1.1800 | +1.7% |
| 2024 | $1.1600 |
What's inside
As of Aug 31, 2026, the fund held 924 securities; the ten largest made up 37.62% of assets.
| Holding | Weight | |
|---|---|---|
| Us Treasury N/b Bonds and notes | 5.02% | |
| Us Treasury N/b Bonds and notes | 4.82% | |
| Us Treasury N/b Bonds and notes | 4.14% | |
| Us Treasury N/b Bonds and notes | 3.94% | |
| Us Treasury N/b Bonds and notes | 3.89% | |
| Us Treasury N/b Bonds and notes | 3.78% | |
| Us Treasury N/b Bonds and notes | 3.41% | |
| Us Treasury N/b Bonds and notes | 3.03% | |
| Us Treasury N/b Bonds and notes | 2.89% | |
| Us Treasury N/b Bonds and notes | 2.71% | |
| Us Treasury N/b Bonds and notes | 2.47% | |
| Us Treasury N/b Bonds and notes | 2.10% | |
| Us Treasury N/b Bonds and notes | 1.24% | |
| Us Treasury N/b Bonds and notes | 0.98% | |
| Us Treasury N/b Bonds and notes | 0.98% |
By country
United States 95.19%Canada 0.99%Switzerland 0.57%Bermuda 0.52%Cayman Islands 0.48%By issuer
US Treasury 49.11%Companies 38.12%US government-sponsored enterprises 7.43%US government agencies 3.91%The bonds mature in 200.9 years on average (weighted by size), with an average coupon of 4.75%.
Source: N-PORT holdings report as of Aug 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Aug 31, 2026, investors added a net $320.1M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +0.28%, -1.35%, +0.37%.
How it works
SMTH does not track an index. A manager chooses its holdings. Under normal conditions it puts at least 80% of net assets into bonds, chosen by Smith Capital Investors, LLC, the sub-adviser. The goal is total return (interest income plus price gains) that beats the Bloomberg U.S. Aggregate Bond Index after fees. That index is a broad measure of US investment-grade bonds. The prospectus says income is usually the larger part of the return.
The manager works "bottom up." That means judging bonds one at a time on yield, credit rating, liquidity, call risk, duration and structure, while weighing risk across the whole fund. Duration measures how much a bond's price moves when interest rates change. The fund keeps its duration within 40% above or below the Aggregate index's. Junk bonds are capped below 20% of assets. Non-agency mortgage bonds are capped at 20%, and non-agency commercial mortgage bonds stay below 5%. The fund may also hold asset-backed securities, loans and foreign or emerging-market debt.
Trading is heavy. The prospectus reports portfolio turnover of 147%, meaning the fund bought and sold more than its total value over the year measured. As of August 31, 2026, it held 924 positions. US Treasuries made up about 49% and corporate debt about 38%. The 10 largest holdings were all Treasury notes and bonds, together about 38% of assets. The fund held no derivatives.
What it really costs
- SMTH charges 0.59% a year, versus an average of 0.05% for the similar funds below (8th of 8, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $60 in the first year and $737 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| SMTH | $60 | $189 | $329 | $737 |
Structure and tax notes
- Bond prices move opposite to interest rates; the longer the maturities it holds, the more its price reacts to rate changes.
In a retirement portfolio
It is a broad, mostly investment-grade bond fund measured against the Bloomberg U.S. Aggregate Bond Index, so it could fill the bond part of a portfolio, though at a much higher cost than index peers.
SMTH can provide monthly income. Its trailing 12-month yield was 4.46% as of October 27, 2026. Its history is short. It launched in December 2023, so it has no record from the 2008, 2020 or 2022 downturns. Its weakest calendar year was 2024, a gain of 2.68%. Its deepest drop, about 4.6%, ran from February 27 to October 7, 2026, and had not recovered by October 27. Anyone selling shares for cash during that stretch would have sold below the peak. Cost is the other thing to watch. The SEC's standard example puts costs at $737 over 10 years on a $10,000 investment. The fund's 0.59% expense ratio compares with an average of 0.05% for similar funds. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want an actively managed core bond fund that aims to beat the Bloomberg U.S. Aggregate Bond Index, built mainly from Treasuries and corporate bonds.
- People who value monthly income. The trailing 12-month yield was 4.46% as of October 27, 2026, or $1.11 per share.
- Those comfortable with some extra credit risk, since junk bonds can make up just under 20% of assets alongside a Treasury-heavy core.
Look elsewhere if
- Cost-focused investors. Its 0.59% expense ratio ranks 8th of 8 among similar funds, while AGG, BND and BIV each charge 0.03%.
- Anyone who wants a long track record. Launched in December 2023, the fund has never been through the 2008, 2020 or 2022 downturns.
- Investors who want plain index exposure. With 147% turnover and manager judgment, returns can lag the benchmark, as the -1.5% one-year return to October 27, 2026 shows.
Close alternatives
Matched by bond funds with the closest average maturity and issuer mix (N-PORT).
| Fund | Avg. maturity | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| SMTH this fund | 200.9 yrs | 0.59% | $3.02B | -1.5% | — |
| BND Vanguard Total Bond Market ETF | 11.7 yrs | 0.03% | $397.11B | -0.4% | +4.7% |
| BIV Vanguard Intermediate-Term Bond ETF | 7.5 yrs | 0.03% | $52.45B | -0.7% | +5.1% |
| IUSB iShares Core Total USD Bond Market ETF | 11.8 yrs | 0.06% | $43.00B | -0.3% | +5.1% |
| AGG iShares Core U.S. Aggregate Bond ETF | 12.4 yrs | 0.03% | $138.32B | -0.4% | +4.7% |
| BSV Vanguard Short-Term Bond ETF | 2.9 yrs | 0.03% | $69.75B | +1.7% | +4.5% |
| LQD iShares iBoxx $ Investment Grade Corporate … | 13 yrs | 0.14% | $32.04B | -2.3% | +5.2% |
| VCIT Vanguard Intermediate-Term Corporate Bond E… | 8.2 yrs | 0.03% | $72.04B | -0.6% | +7.1% |
Questions investors ask
Is SMTH good for retirement income?
SMTH can provide regular income. It pays monthly, and its trailing 12-month yield was 4.46% as of October 27, 2026, or $1.11 per share. The prospectus says income is usually the main part of its return. The trade-offs are a 0.59% expense ratio, a short history since its December 2023 launch, and a drop of about 4.6% from February to October 2026 that had not recovered by October 27.
What's the difference between SMTH and AGG?
AGG is an index fund that charges 0.03% a year. SMTH is actively managed, aims to beat the Bloomberg U.S. Aggregate Bond Index after fees, and charges 0.59%. SMTH can put just under 20% in junk bonds and can buy foreign and emerging-market debt. AGG is much larger, with about $138 billion in net assets versus about $3.0 billion for SMTH. AGG's one-year return was -0.7% as of October 29, 2026. SMTH's was -1.5% as of October 27.
Does SMTH pay monthly dividends?
Yes. SMTH pays distributions monthly. Over the 12 months to October 27, 2026, it paid $1.11 per share, a trailing yield of 4.46%. Bond fund payouts come mostly from the interest on the bonds the fund holds, so the amount can change from month to month as the portfolio and interest rates change.
What is SMTH's expense ratio?
SMTH's expense ratio is 0.59%, according to its prospectus filed March 30, 2026. All of it is the management fee, with no fee waiver. In the SEC's standard example, $10,000 invested with a 5% annual return would cost about $60 in the first year, $189 over three years, $329 over five years and $737 over 10 years. Similar bond funds average 0.05%.
How has SMTH performed since it launched?
SMTH returned 2.68% in 2024 and 7.07% in 2025, according to its prospectus. From its launch through December 31, 2025, it averaged 6.59% a year, versus 5.4% for the comparison index in its prospectus. In 2025 alone, that index returned 7.3%. Based on price data, the fund was down 1.1% for 2026 through October 27 and down 1.5% over the one year to that date.