SMRI Performance — Bushido Capital US Equity ETF
Data updated: 2026-10-13
SMRI returned +22.95% year to date and +38.75% over one year to Jul 2026. Over one year the fund beat its US Mid-Cap Value category average: $100 grew to $139, against $120 for the category. Volatility over the past 12 months was 14.26% a year. In the 12 months to Jul 2026 the fund took in a net $43.7M, and assets reached $644.32M.
SMRI Growth of $100
What $100 invested in Bushido Capital US Equity ETF grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Mid-Cap Value category average over the same months.
| Period | SMRI | Category average |
|---|---|---|
| 1 year (Aug 2025 – Jul 2026) | $139 | $120 |
| Since data start (Sep 2023 – Jul 2026) | $183 | $149 |
SMRI Trailing Returns
Total returns to Jul 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +22.95% |
| 1 year | +38.75% |
| 3 years (annualised) | +22.96% |
SMRI Annual Returns
Calendar-year total returns of Bushido Capital US Equity ETF, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jul) | +22.95% |
| 2025 | +17.54% |
| 2024 | +19.13% |
| 2023 (Sep–Dec) | +6.13% |
SMRI Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | −0.4% | +1.4% | −2.8% | +7.5% | +10.1% | −1.9% | +8.0% | — | — | — | — | — |
| 2025 | +3.6% | −0.7% | −3.4% | −2.2% | +3.9% | +5.5% | −2.2% | +5.8% | +1.8% | +0.8% | +3.1% | +0.8% |
| 2024 | +0.1% | +3.8% | +8.1% | −4.9% | +2.1% | −1.5% | +5.3% | +1.4% | +1.1% | −0.9% | +10.9% | −6.3% |
| 2023 | — | — | — | — | — | — | — | — | −2.5% | −2.3% | +6.1% | +5.0% |
SMRI Risk
Risk measures from monthly returns over Aug 2025 – Jul 2026.
- 1-year volatility (annualised): 14.26%
- Best month: +10.07% (May 2026)
- Worst month: −2.80% (Mar 2026)
SMRI Fund Flows
Monthly money in and out of Bushido Capital US Equity ETF, from SEC Form N-PORT.
- 12-month net flow: $43.7M
- 12-month gross sales (incl. reinvestments): $571.2M
- Sales ÷ redemptions: 1.08×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jul 2026 | $18.8M | $12.8M | $6.0M |
| Jun 2026 | $156.5M | $152.0M | $4.5M |
| May 2026 | $4.3M | $0 | $4.3M |
| Apr 2026 | $1.8M | $4.1M | −$2.4M |
| Mar 2026 | $141.5M | $134.8M | $6.7M |
| Feb 2026 | $7.2M | $0 | $7.2M |
| Jan 2026 | $45.3M | $45.0M | $354K |
| Dec 2025 | $76.8M | $73.2M | $3.6M |
| Nov 2025 | $0 | $0 | $0 |
| Oct 2025 | $6.6M | $0 | $6.6M |
| Sep 2025 | $107.5M | $103.9M | $3.6M |
| Aug 2025 | $4.9M | $1.7M | $3.3M |
SMRI Assets Under Management
Net assets of Bushido Capital US Equity ETF by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-07-31 | $644.32M |
| 2026-04-30 | $540.89M |
| 2026-01-30 | $499.81M |
| 2025-10-31 | $480.06M |
| 2025-07-31 | $430.89M |
| 2025-04-30 | $405.10M |
| 2025-01-31 | $411.76M |
| 2024-10-31 | $370.52M |
| 2024-07-31 | $357.03M |
| 2024-04-30 | $329.21M |
| 2024-01-31 | $295.20M |
| 2023-10-31 | $255.16M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.