SMLF vs VOO
iShares US Small-Cap Equity Factor ETF vs Vanguard S&P 500 ETF
Which is better, SMLF or VOO?
Small Cap Blend against Large Cap Blend.
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. SMLF is less concentrated, with 8.1% of the fund in its ten largest positions against 36.4%.
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 | SMLF | VOO |
|---|---|---|
| Expense Ratio | 0.15% | 0.03%Best |
| AUM | $4.3B | $997.4B |
| Dividend Yield | 1.02% | 1.08% |
| Holdings | 934 | 509 |
| YTD Return | +15.67%Best | +12.74% |
| 1Y Return | +18.66% | +19.43%Best |
| 3Y Return (annualized) | +19.07% | +21.18%Best |
| 5Y Return (annualized) | +11.04% | +12.76%Best |
| Volatility (annualized) | 18.9% | 15.1%Best |
| Max Drawdown | -43.1% | -34.3%Best |
| $10,000 over 5 years | $16,881 | $18,230Best |
| Top 10 Weight | 8.1%Best | 36.4% |
| Fund Family | iShares by BlackRock (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Small Cap Blend | Large Cap Blend |
| Inception | Apr 28, 2015 | Sep 7, 2010 |
Volatility and max drawdown are measured over the window both funds cover: Apr 30, 2015 to Sep 8, 2026 (11.4 years).
SMLF vs VOO 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 11.4 years both funds cover.
SMLF vs VOO Performance
iShares US Small-Cap Equity Factor ETF (SMLF) is an ETF from iShares by BlackRock (US) and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year SMLF returned +18.66% while VOO returned +19.43%. Year to date, SMLF is up 15.67% versus a gain of 12.74% for VOO.
Over three years, SMLF compounded at +19.07% per year against +21.18% for VOO; over five years the annualized figures are +11.04% and +12.76% respectively. Across the full 11-year window we track, VOO has the edge at +12.94% annualized vs +10.80%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SMLF has been the more volatile fund, with annualized monthly volatility of 18.9% compared with 15.1% for VOO. 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 -43.1% for SMLF and -34.3% for VOO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.87. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SMLF charges 0.15% per year while VOO charges 0.03%. On a $10,000 position that is $15 vs $3 annually, a gap of $12 per year that compounds over a long holding period. On income, SMLF currently yields 1.02% against 1.08% for VOO.
Holdings Overlap
10.5% of SMLF's money is in holdings VOO also owns. 1.1% of VOO's money is in holdings SMLF also owns.
SMLF and VOO share little of their money.
43 positions in common, counted across the 862 positions we hold weights for in SMLF and 504 in VOO, against full books of 934 and 509.
What only one of them owns
Our book lists 454 positions for VOO that do not appear in our book for SMLF (98.3% of the fund), and 778 for SMLF that do not appear in VOO (84.1%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in SMLF | Weight in VOO | Difference |
|---|---|---|---|
| FLEX:SIFlex Ltd | 0.94% | 0.09% | 0.85% |
| EMEEmcor Group Inc (eme) | 0.91% | 0.06% | 0.85% |
| IBKRInteractive Brokers Group Inc | 0.88% | 0.06% | 0.82% |
| JBLJabil, Inc. | 0.77% | 0.06% | 0.71% |
| TPRTapestry Inc | 0.59% | 0.05% | 0.54% |
| WSMWilliams-sonoma Inc | 0.57% | 0.04% | 0.53% |
| MRNAMrna Uw Equity | 0.50% | 0.04% | 0.46% |
| RLRalph Lauren Corp. Class A | 0.33% | 0.02% | 0.31% |
| HASHasbro Inc | 0.33% | 0.02% | 0.31% |
| CASYCasey's General Stores Inc | 0.30% | 0.05% | 0.25% |
You are not choosing between two funds in isolation.
Whichever of SMLF and VOO 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, SMLF or VOO?
SMLF has an expense ratio of 0.15% while VOO charges 0.03%. VOO is the cheaper option, by $12 a year on a $10,000 investment.
Which performed better, SMLF or VOO?
Over the past year SMLF returned +18.66% vs +19.43% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (11 years), SMLF annualized +10.80% vs +12.94% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SMLF or VOO?
SMLF has been the more volatile fund at 18.9% annualized versus 15.1% for VOO. Worst drawdown: SMLF -43.1% vs VOO -34.3%.
Should I hold both SMLF and VOO?
SMLF and VOO have a monthly-return correlation of 0.87, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between SMLF and VOO?
10.5% of SMLF's money is in holdings VOO also owns. 1.1% of VOO's is in holdings SMLF also owns. They hold 43 positions in common, counted across the 862 positions we hold weights for in SMLF and 504 in VOO.
Which pays a higher dividend, SMLF or VOO?
SMLF yields 1.02% while VOO yields 1.08%, so VOO currently pays the higher dividend yield.
Is VOO better than SMLF?
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. SMLF is less concentrated, with 8.1% of the fund in its ten largest positions against 36.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.