SMLV vs VYM
State Street SPDR US Small Cap Low Volatility Index ETF vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. SMLV delivered stronger 1-year returns. VYM offers more diversification with 616 holdings.
Side-by-Side Comparison
| Metric | SMLV | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.12% | 0.04% | |
| AUM | $263M | $81.6B | |
| Dividend Yield | 2.21% | 2.24% | |
| Holdings | 401 | 616 | |
| YTD Return | +23.93% | +15.84% | |
| 1Y Return | +28.46% | +23.95% | |
| 3Y Return (annualized) | +18.70% | +19.02% | |
| 5Y Return (annualized) | +10.09% | +12.19% | |
| Volatility (annualized) | 17.6% | 14.6% | |
| Max Drawdown | -42.9% | -58.8% | |
| Fund Family | State Street Investment Management | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Feb 20, 2013 | Nov 10, 2006 |
SMLV vs VYM Performance
State Street SPDR US Small Cap Low Volatility Index ETF (SMLV) is a ETF from State Street Investment Management and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year SMLV returned +28.46% while VYM returned +23.95%. Year to date, SMLV is up 23.93% versus a gain of 15.84% for VYM.
Over three years, SMLV compounded at +18.70% per year against +19.02% for VYM; over five years the annualized figures are +10.09% and +12.19% respectively. Across the full 14-year window we track, SMLV has the edge at +8.79% annualized vs +7.07%. 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 14.6% 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 -58.8% for VYM. 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 0.84. 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
SMLV and VYM share 87 holdings out of 915 unique holdings combined, representing a 1.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $8 per year of difference.
Which performed better, SMLV or VYM?
Over the past year SMLV returned +28.46% vs +23.95% for VYM, so SMLV leads on 1-year performance. Over the longest common window we track (14 years), SMLV annualized +8.79% vs +7.07% for VYM. Past performance does not guarantee future results.
Which is riskier, SMLV or VYM?
SMLV has been the more volatile fund at 17.6% annualized versus 14.6% for VYM. Worst drawdown: SMLV -42.9% vs VYM -58.8%.
Should I hold both SMLV and VYM?
SMLV and VYM have a monthly-return correlation of 0.84, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SMLV and VYM?
SMLV and VYM share 87 common holdings with a 1.3% weight overlap. Combined, they hold 915 unique securities.
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.
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