Sort of matters when we’re talking about and what defines a ‘smaller’ club. Most clubs outside of London, Manchester and Liverpool have won things in the maximum wage era, when football was more of a level playing field (but still not a level playing field…) or more recently, have usually needed an exceptional manager to win anything
Which clubs around our size have won more than us?
The skates - two leagues in the maximum wage era; one FA cup won, another one bought (for which they’re still paying the price)
Ipswich - (smaller club if anything) a league under Alf Ramsey, a Uefa cup, and FA cup - so they have, yes
Forest - two European cups, a league, numerous league cup under a genius manager, plus a couple of FA cups before - yes
Derby - Clough again - two leagues with his team. An FA cup after the war - yes
Sunderland - All their honours were before WW2 (most before WW1) except 1973 FA Cup, so I think they’ve underperformed us
Newcastle - a bigger club, but have won nothing since the Fairs cup in the 1960s - underperformed
Boro - similar size (?) - a league cup and a UEFA cup final probably better then us
Leeds - a bigger club. Revie plus another league
We’ve done better than both Sheffield clubs. Perhaps because there ARE two Sheffied clubs
Burnley - smaller club, but have won more, albeit before the lifting of the maximum wage
Blackburn - yup, but had a sugar daddy
Wolves, WBA - yes, but a long time ago
Wigan, Swansea - smaller clubs, but have won the same as us
Smaller London clubs - Wimbledon, QPR, Charlton as much as us, Fulham, Palace no
Not significantly (or at all) - Leicester, Coventry, Stoke, Norwich, Birmingham
Conclusion - quite a lot of clubs who are roughly our size have won more than us. Often this was a long time ago. Many clubs our size have won the same or less than us. But we’re talking about one/two trophies here - another cup win would make us one of the best performing of the ‘provincial’ clubs, certainly in modern times