Smart Switches
Smart switches are managed switches with a limited set of management features. These are cheaper than a fully managed switch and provide basic configuration ability, such as port speed and duplex, VLAN tagging, MAC filtering and port status.
Managed Switches
Managed switches have a full range of management features. In addition to the same basic features provided by a smart switch, advanced functionality such as SNMP monitoring, port mirroring, 802.1X access control, link aggregation, power usage monitoring and IGMP snooping are all commonly found in fully managed switches.