1. Alfresco Content Services 5.2 Documentation, "Smart Folders": "A Smart Folder is a standard Alfresco folder (cm:folder) that has the aspect smf:smartFolder applied. The aspect adds the required properties for a search query and a template." This statement directly confirms that the aspect is the defining characteristic.
Source: Alfresco Content Services 5.2 Documentation, Administering > Administering Content Services > Smart Folders.
2. Alfresco Content Services 5.2 Documentation, "Smart Folder model": The documentation details the smf:smartFolder aspect and its properties (smf:query, smf:template, smf:language, etc.). This shows the aspect is the container for all Smart Folder-specific metadata.
Source: Alfresco Content Services 5.2 Documentation, Developing > Content model > Out-of-the-box models > Smart Folder model.