This ETF is one of several ETFs available that offers exposure to mid cap U.S. stocks, an asset class that can make up a significant portion of long-term, buy-and-hold portfolios. As such, this ETF may be more appealing to those in the portfolio construction process as opposed to short term traders. SCHM offers exposure to a balanced portfolio of stocks, including close to 500 individual names and spreading exposure relatively evenly. The expense ratio is by far the best in the space although the liquidity level is just so-so suggesting that bid ask spreads may be higher than in other products. In addition to the more popular cap-weighted choices such as MDY and IJH, there is the alpha-seeking FNX, and equal-weighted EWRM.