MSML, the iShares MSCI USA Small-Cap ETF ($275m), sits in StoryVector’s Beta Book: it tracks a broad segment of the market, so no single narrative drives it. It carries no market story, so it is not ranked against one. Over the past year it returned +16.2%, against +13.8% for broad US ETFs. Figures to October 29, 2026. Past performance, not a forecast or a recommendation.
How it has performed
How MSML has done, next to the US market.
| Period | MSML | US market |
|---|---|---|
| Last month | +2.9% | +0.6% |
| Last 3 months | −0.1% | +5.1% |
| This year | +14.1% | +14.4% |
| Last 12 months | +16.2% | +13.8% |
| 3 years, annualized | +21.1% | +24.6% |
| 5 years, annualized | +6.3% | +11.7% |
| Since launch, July 2004, annualized | +8.9% | – |
Returns are price change plus dividends. A dash means it has not traded for the whole period. Past performance, not a forecast or a recommendation.
Key facts
How it has done over time
$10,000 invested October 31, 2016
Year by year
Total return in each calendar year; this year is year to date. A year appears only if MSML traded for all of it.
How it moves
| Compared with | CorrelationCorr. | −1 opposite · 0 unrelated · +1 in step | When it moved 1%, MSML movedPer 1% move |
|---|---|---|---|
| The US market | 0.83 | 1.02% |
MSML moves closely with the US market. Correlation runs from −1 (moves opposite) through 0 (unrelated) to +1 (moves in step). Weekly returns over 156 weeks, to Fri Oct 23.
Risk
Against its peers
Nearest by size
The ETFs ranked just above and below MSML by assets, among the 218 broad ETFs in the Beta Book, largest first.
| # | ETF | ASSETS | 1 YEAR | COST |
|---|---|---|---|---|
| 116 | CARK | $335.6m | +4.1% | 0.54% |
| 117 | EDOW | $323.1m | +15.4% | 0.50% |
| 118 | BROL | $307.9m | – | 0.45% |
| 119 | SPXT | $307.1m | +10.9% | 0.09% |
| 120 | GSC | $297.2m | +21.0% | 0.75% |
| 121 | MSML | $275.3m | +16.2% | – |
| 122 | OPTZ | $260.9m | +28.3% | 0.25% |
| 123 | LDRX | $256.3m | +10.8% | 0.59% |
| 124 | BCHP | $225.7m | −2.6% | 0.58% |
| 125 | SGLC | $221.1m | +19.3% | 0.85% |
| 126 | RNIN | $212.9m | +44.4% | 0.68% |
1 year is price change plus dividends; cost is the yearly fee.
Moves most like: ESML 0.99 · VB 0.99 · BKSE 0.99 How closely weekly returns moved together over the last 3 years, where 1 is in step.
Where it sits among broad Beta Book ETFs
Each dot is one of 180 plain broad Beta Book ETFs, placed by its return (up) and how much it swung (right) over the last year.
Checked, and added to the Beta Book
It tracks a broad segment of the market, so no single narrative drives it.
We check every ETF against the 22 narratives. This one follows the market, a factor or a manager’s choices rather than a story, so it has no narrative and no share of a narrative’s money. See the narratives on the board → · See the whole Beta Book →
How it is built
A plain ETF that owns its holdings directly.
Common questions
Why does MSML have no story?
It tracks a broad segment of the market, so no single narrative drives it.
How has MSML performed?
MSML returned +16.2% over the past year, against +13.8% for broad US ETFs, to October 29, 2026. Past performance, not a forecast or a recommendation.
Is MSML leveraged?
No. MSML is a plain ETF: it aims to move one for one with what it holds.
When did MSML launch?
MSML launched on July 13, 2004 and is issued by iShares.
What does MSML pay?
MSML paid out 1.33% of its price over the last 12 months.
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