SMLV vs VYM
State Street SPDR US Small Cap Low Volatility Index ETF vs Vanguard High Dividend Yield ETF
Which is better, SMLV or VYM?
Small Cap Blend against Large Cap Value.
VYM has a lower expense ratio. SMLV led over 1Y and 3Y, VYM over 5Y and the full window. SMLV is less concentrated, with 5.8% of the fund in its ten largest positions against 25.9%.
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 | SMLV | VYM |
|---|---|---|
| Expense Ratio | 0.12% | 0.04%Best |
| AUM | $258M | $81.6B |
| Dividend Yield | 2.21% | 2.24% |
| Holdings | 401 | 613 |
| YTD Return | +21.25%Best | +14.33% |
| 1Y Return | +21.01%Best | +20.01% |
| 3Y Return (annualized) | +18.68%Best | +18.43% |
| 5Y Return (annualized) | +9.49% | +12.16%Best |
| Volatility (annualized) | 17.5% | 13.3%Best |
| Max Drawdown | -42.9% | -35.7%Best |
| $10,000 over 5 years | $15,735 | $17,750Best |
| Top 10 Weight | 5.8%Best | 25.9% |
| Fund Family | State Street Investment Management | Vanguard (US) |
| Category | Equity | Equity |
| Style | Small Cap Blend | Large Cap Value |
| Inception | Feb 20, 2013 | Nov 10, 2006 |
Volatility and max drawdown are measured over the window both funds cover: Feb 21, 2013 to Sep 8, 2026 (13.5 years).
SMLV vs VYM 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 13.5 years both funds cover.
SMLV vs VYM Performance
State Street SPDR US Small Cap Low Volatility Index ETF (SMLV) is an ETF from State Street Investment Management and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year SMLV returned +21.01% while VYM returned +20.01%. Year to date, SMLV is up 21.25% versus a gain of 14.33% for VYM.
Over three years, SMLV compounded at +18.68% per year against +18.43% for VYM; over five years the annualized figures are +9.49% and +12.16% respectively. Across the full 14-year window we track, VYM has the edge at +10.00% annualized vs +8.57%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SMLV has been the more volatile fund, with annualized monthly volatility of 17.5% compared with 13.3% for VYM. 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 -35.7% for VYM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.84. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SMLV charges 0.12% per year while VYM charges 0.04%. On a $10,000 position that is $12 vs $4 annually, a gap of $8 per year that compounds over a long holding period. On income, SMLV currently yields 2.21% against 2.24% for VYM.
Holdings Overlap
26.6% of SMLV's money is in holdings VYM also owns. 1.3% of VYM's money is in holdings SMLV also owns.
SMLV and VYM share little of their money.
87 positions in common, counted across the 396 positions we hold weights for in SMLV and 602 in VYM, against full books of 401 and 613.
What only one of them owns
Our book lists 485 positions for VYM that do not appear in our book for SMLV (96.0% of the fund), and 294 for SMLV that do not appear in VYM (70.2%).
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 SMLV | Weight in VYM | Difference |
|---|---|---|---|
| HMNHORACE MANN EDUCATORS | 0.62% | 0.01% | 0.61% |
| CHCOCity Holding Co Common Stock Usd2.5 | 0.62% | 0.01% | 0.61% |
| CHEChemed Corp | 0.55% | 0.03% | 0.52% |
| AWRAmerican States Water Co | 0.57% | 0.01% | 0.56% |
| NWENorthwestern Corp | 0.55% | 0.02% | 0.53% |
| SIGISelective Ins Group Inc | 0.52% | 0.02% | 0.50% |
| MSMMsc Industrial Direct Co Inc | 0.51% | 0.02% | 0.49% |
| MGRCMcgrath Rentcorp_None_0 | 0.51% | 0.01% | 0.50% |
| LSTRLandstar System Inc | 0.47% | 0.03% | 0.44% |
| TFSLTfs Financial Corp | 0.49% | 0.00% | 0.49% |
26.6% of SMLV is already inside VYM.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SMLV or VYM?
SMLV has an expense ratio of 0.12% while VYM charges 0.04%. VYM is the cheaper option, by $8 a year on a $10,000 investment.
Which performed better, SMLV or VYM?
Over the past year SMLV returned +21.01% vs +20.01% for VYM, so SMLV leads on 1-year performance. Over the longest common window we track (14 years), SMLV annualized +8.57% vs +10.00% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SMLV or VYM?
SMLV has been the more volatile fund at 17.5% annualized versus 13.3% for VYM. Worst drawdown: SMLV -42.9% vs VYM -35.7%.
Should I hold both SMLV and VYM?
SMLV and VYM have a monthly-return correlation of 0.84, 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 SMLV and VYM?
26.6% of SMLV's money is in holdings VYM also owns. 1.3% of VYM's is in holdings SMLV also owns. They hold 87 positions in common, counted across the 396 positions we hold weights for in SMLV and 602 in VYM.
Which pays a higher dividend, SMLV or VYM?
SMLV yields 2.21% while VYM yields 2.24%, so VYM currently pays the higher dividend yield.
Is VYM better than SMLV?
VYM has a lower expense ratio. SMLV led over 1Y and 3Y, VYM over 5Y and the full window. SMLV is less concentrated, with 5.8% of the fund in its ten largest positions against 25.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.