SMDV vs SPY
Proshares Russell 2000 Dividend Growers ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, SMDV or SPY?
Small Cap Blend against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. SMDV is less concentrated, with 12.1% of the fund in its ten largest positions against 37.8%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | SMDV | SPY |
|---|---|---|
| Expense Ratio | 0.40% | 0.09%Best |
| AUM | $709M | $804.7B |
| Dividend Yield | 2.32% | 0.98% |
| Holdings | 101 | 505 |
| YTD Return | +10.38% | +12.99%Best |
| 1Y Return | +9.20% | +16.73%Best |
| 3Y Return (annualized) | +10.58% | +22.52%Best |
| 5Y Return (annualized) | +5.90% | +13.07%Best |
| Volatility (annualized) | 16.1% | 15.0%Best |
| Max Drawdown | -34.1%Tie | -34.1%Tie |
| $10,000 over 5 years | $13,319 | $18,481Best |
| Top 10 Weight | 12.1%Best | 37.8% |
| Fund Family | ProShares | State Street Investment Management |
| Category | Equity | Equity |
| Style | Small Cap Blend | Large Cap Blend |
| Inception | Feb 3, 2015 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Feb 5, 2015 to Sep 23, 2026 (11.6 years).
SMDV vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 11.6 years both funds cover.
SMDV vs SPY Performance
Proshares Russell 2000 Dividend Growers ETF (SMDV) is an ETF from ProShares and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year SMDV returned +9.20% while SPY returned +16.73%. Year to date, SMDV is up 10.38% versus a gain of 12.99% for SPY.
Over three years, SMDV compounded at +10.58% per year against +22.52% for SPY; over five years the annualized figures are +5.90% and +13.07% respectively. Across the full 12-year window we track, SPY has the edge at +12.69% annualized vs +7.50%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SMDV has been the more volatile fund, with annualized monthly volatility of 16.1% compared with 15.0% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -34.1% for SMDV and -34.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.71. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SMDV charges 0.40% per year while SPY charges 0.09%. On a $10,000 position that is $40 vs $9 annually, a gap of $31 per year that compounds over a long holding period. On income, SMDV currently yields 2.32% against 0.98% for SPY.
Holdings Overlap
0.8% of SMDV's money is in holdings SPY also owns. 0.2% of SPY's money is in holdings SMDV also owns.
We cannot see either book well enough to say how much of this pair is duplicated.
1 positions in common, counted across the 97 positions we hold weights for in SMDV and 504 in SPY, against full books of 101 and 505.
What only one of them owns
Measured across the 97 and 504 positions we hold weights for.
SPY holds 496 positions SMDV does not, 99.1% of the fund.
Largest: NVDA 8.01%, AAPL 7.26%, MSFT 5.66%, AMZN 3.79%, GOOGL 2.99%
Top Shared Holdings
| Stock | Weight in SMDV | Weight in SPY | Difference |
|---|---|---|---|
| NEMNewmont Corp Common | 0.78% | 0.20% | 0.58% |
You are not choosing between two funds in isolation.
Whichever of SMDV and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SMDV or SPY?
SMDV has an expense ratio of 0.40% while SPY charges 0.09%. SPY is the cheaper option, by $31 a year on a $10,000 investment.
Which performed better, SMDV or SPY?
Over the past year SMDV returned +9.20% vs +16.73% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (12 years), SMDV annualized +7.50% vs +12.69% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SMDV or SPY?
SMDV has been the more volatile fund at 16.1% annualized versus 15.0% for SPY. Worst drawdown: SMDV -34.1% vs SPY -34.1%.
Should I hold both SMDV and SPY?
SMDV and SPY have a monthly-return correlation of 0.71, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, SMDV or SPY?
SMDV yields 2.32% while SPY yields 0.98%, so SMDV currently pays the higher dividend yield.
Is SPY better than SMDV?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. SMDV is less concentrated, with 12.1% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.