SMLL vs VOO
Harbor Active Small Cap ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 509 holdings.
Side-by-Side Comparison
| Metric | SMLL | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.80% | 0.03% | |
| AUM | $14M | $997.4B | |
| Dividend Yield | 1.52% | 1.08% | |
| Holdings | 51 | 509 | |
| YTD Return | +8.98% | +12.63% | |
| 1Y Return | +0.32% | +20.89% | |
| 3Y Return (annualized) | - | +21.06% | |
| 5Y Return (annualized) | - | +12.62% | |
| Volatility (annualized) | 16.7% | 14.1% | |
| Max Drawdown | -23.6% | -34.3% | |
| Fund Family | Harbor Funds | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Aug 27, 2024 | Sep 7, 2010 |
SMLL vs VOO Performance
Harbor Active Small Cap ETF (SMLL) is a ETF from Harbor Funds and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year SMLL returned +0.32% while VOO returned +20.89%. Year to date, SMLL is up 8.98% versus a gain of 12.63% for VOO.
Risk: Volatility and Drawdowns
SMLL has been the more volatile fund, with annualized monthly volatility of 16.7% compared with 14.1% 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 -23.6% for SMLL and -34.3% for VOO. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.74. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SMLL charges 0.80% per year while VOO charges 0.03%. On a $10,000 position that is $80 vs $3 annually, a gap of $77 per year that compounds over a long holding period. On income, SMLL currently yields 1.52% against 1.08% for VOO.
Holdings Overlap
SMLL and VOO share 3 holdings out of 552 unique holdings combined, representing a 0.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SMLL or VOO?
SMLL has an expense ratio of 0.80% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $77 per year of difference.
Which performed better, SMLL or VOO?
Over the past year SMLL returned +0.32% vs +20.89% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (2 years), SMLL annualized +5.87% vs +13.44% for VOO. Past performance does not guarantee future results.
Which is riskier, SMLL or VOO?
SMLL has been the more volatile fund at 16.7% annualized versus 14.1% for VOO. Worst drawdown: SMLL -23.6% vs VOO -34.3%.
Should I hold both SMLL and VOO?
SMLL and VOO have a monthly-return correlation of 0.74, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SMLL and VOO?
SMLL and VOO share 3 common holdings with a 0.1% weight overlap. Combined, they hold 552 unique securities.
Which pays a higher dividend, SMLL or VOO?
SMLL yields 1.52% while VOO yields 1.08%, so SMLL currently pays the higher dividend yield.
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