SMLV vs VOO
State Street SPDR US Small Cap Low Volatility Index ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. SMLV delivered stronger 1-year returns. VOO offers more diversification with 509 holdings.
Side-by-Side Comparison
| Metric | SMLV | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.12% | 0.03% | |
| AUM | $263M | $997.4B | |
| Dividend Yield | 2.21% | 1.08% | |
| Holdings | 401 | 509 | |
| YTD Return | +23.93% | +13.73% | |
| 1Y Return | +28.46% | +21.53% | |
| 3Y Return (annualized) | +18.70% | +22.60% | |
| 5Y Return (annualized) | +10.09% | +13.31% | |
| Volatility (annualized) | 17.6% | 14.1% | |
| Max Drawdown | -42.9% | -34.3% | |
| Fund Family | State Street Investment Management | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Feb 20, 2013 | Sep 7, 2010 |
SMLV vs VOO Performance
State Street SPDR US Small Cap Low Volatility Index ETF (SMLV) is a ETF from State Street Investment Management and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year SMLV returned +28.46% while VOO returned +21.53%. Year to date, SMLV is up 23.93% versus a gain of 13.73% for VOO.
Over three years, SMLV compounded at +18.70% per year against +22.60% for VOO; over five years the annualized figures are +10.09% and +13.31% respectively. Across the full 14-year window we track, VOO has the edge at +13.55% annualized vs +8.79%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SMLV has been the more volatile fund, with annualized monthly volatility of 17.6% 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 -42.9% for SMLV 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 0.76. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SMLV charges 0.12% per year while VOO charges 0.03%. On a $10,000 position that is $12 vs $3 annually, a gap of $9 per year that compounds over a long holding period. On income, SMLV currently yields 2.21% against 1.08% for VOO.
Holdings Overlap
SMLV and VOO share 0 holdings out of 904 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SMLV or VOO?
SMLV has an expense ratio of 0.12% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $9 per year of difference.
Which performed better, SMLV or VOO?
Over the past year SMLV returned +28.46% vs +21.53% for VOO, so SMLV leads on 1-year performance. Over the longest common window we track (14 years), SMLV annualized +8.79% vs +13.55% for VOO. Past performance does not guarantee future results.
Which is riskier, SMLV or VOO?
SMLV has been the more volatile fund at 17.6% annualized versus 14.1% for VOO. Worst drawdown: SMLV -42.9% vs VOO -34.3%.
Should I hold both SMLV and VOO?
SMLV and VOO have a monthly-return correlation of 0.76, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SMLV and VOO?
SMLV and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 904 unique securities.
Which pays a higher dividend, SMLV or VOO?
SMLV yields 2.21% while VOO yields 1.08%, so SMLV currently pays the higher dividend yield.
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