EPSB vs TMSL
Harbor SMID Cap Core ETF vs T. Rowe Price Small-Mid Cap ETF
Which is better, EPSB or TMSL?
Each has led over a different period.
TMSL has a lower expense ratio. EPSB led over 1Y, TMSL over the full window. The two have moved almost in lockstep, correlation 0.92. TMSL is less concentrated, with 9.4% of the fund in its ten largest positions against 26.4%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | EPSB | TMSL |
|---|---|---|
| Expense Ratio | 0.88% | 0.55%Best |
| AUM | $6M | $3.1B |
| Dividend Yield | 1.18% | 0.50% |
| Holdings | 117 | 287 |
| YTD Return | +13.36%Best | +10.70% |
| 1Y Return | +17.59%Best | +15.80% |
| 3Y Return (annualized) | - | +18.37% |
| Volatility (annualized) | 13.1%Best | 13.4% |
| Max Drawdown | -8.5%Best | -11.2% |
| $10,000 over 1.5 years | $13,180 | $13,396Best |
| Top 10 Weight | 26.4% | 9.4%Best |
| Fund Family | Harbor Funds | T.Rowe Price |
| Category | Equity | Equity |
| Style | Mid Cap Blend | Mid Cap Blend |
| Inception | May 1, 2025 | Jun 14, 2023 |
Not shown on this pair: 5Y Return (annualized).
Volatility and max drawdown, and the $10,000 over 1.5 years row, are measured over the window both funds cover: May 2, 2025 to Oct 14, 2026 (1.5 years).
EPSB vs TMSL growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.5 years both funds cover.
EPSB vs TMSL Performance
Harbor SMID Cap Core ETF (EPSB) is an ETF from Harbor Funds and T. Rowe Price Small-Mid Cap ETF (TMSL) is an ETF from T.Rowe Price. Over the past year EPSB returned +17.59% while TMSL returned +15.80%. Year to date, EPSB is up 13.36% versus a gain of 10.70% for TMSL.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TMSL has been the more volatile fund, with annualized monthly volatility of 13.4% compared with 13.1% for EPSB. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -8.5% for EPSB and -11.2% for TMSL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.92. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
EPSB charges 0.88% per year while TMSL charges 0.55%. On a $10,000 position that is $88 vs $55 annually, a gap of $33 per year that compounds over a long holding period. On income, EPSB currently yields 1.18% against 0.50% for TMSL.
Holdings Overlap
21.7% of EPSB's money is in holdings TMSL also owns. 5.6% of TMSL's money is in holdings EPSB also owns.
EPSB and TMSL share little of their money.
12 positions in common, counted across the 57 positions we hold weights for in EPSB and 284 in TMSL, against full books of 117 and 287.
What only one of them owns
Our book lists 251 positions for TMSL that do not appear in our book for EPSB (87.0% of the fund), and 44 for EPSB that do not appear in TMSL (75.3%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in EPSB | Weight in TMSL | Difference |
|---|---|---|---|
| CRLCharles River Laboratories International Inc | 2.64% | 0.79% | 1.85% |
| TDYTeledyne Technologies Inc | 2.41% | 0.73% | 1.68% |
| WWDWoodward Inc | 2.78% | 0.30% | 2.48% |
| FCFSFirstcash Inc | 2.35% | 0.39% | 1.96% |
| EWBCEast West Bancorp, Inc. | 1.64% | 0.84% | 0.80% |
| SNASnap-On Inc. | 2.21% | 0.23% | 1.98% |
| HXLHexcel Corp | 2.00% | 0.28% | 1.72% |
| SAROStandardaero Inc | 1.31% | 0.67% | 0.64% |
| MIDDMiddleby Corp Common Stock Usd.01 | 1.18% | 0.69% | 0.49% |
| CBTCabot Corp | 1.45% | 0.23% | 1.22% |
21.7% of EPSB is already inside TMSL.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
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Frequently Asked Questions
Which is cheaper, EPSB or TMSL?
EPSB has an expense ratio of 0.88% while TMSL charges 0.55%. TMSL is the cheaper option, by $33 a year on a $10,000 investment.
Which performed better, EPSB or TMSL?
Over the past year EPSB returned +17.59% vs +15.80% for TMSL, so EPSB leads on 1-year performance. Over the longest common window we track (2 years), EPSB annualized +20.21% vs +21.52% for TMSL. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, EPSB or TMSL?
TMSL has been the more volatile fund at 13.4% annualized versus 13.1% for EPSB. Worst drawdown: EPSB -8.5% vs TMSL -11.2%.
Should I hold both EPSB and TMSL?
EPSB and TMSL have a monthly-return correlation of 0.92, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between EPSB and TMSL?
21.7% of EPSB's money is in holdings TMSL also owns. 5.6% of TMSL's is in holdings EPSB also owns. They hold 12 positions in common, counted across the 57 positions we hold weights for in EPSB and 284 in TMSL.
Which pays a higher dividend, EPSB or TMSL?
EPSB yields 1.18% while TMSL yields 0.50%, so EPSB currently pays the higher dividend yield.
Is TMSL better than EPSB?
TMSL has a lower expense ratio. EPSB led over 1Y, TMSL over the full window. The two have moved almost in lockstep, correlation 0.92. TMSL is less concentrated, with 9.4% of the fund in its ten largest positions against 26.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.