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SMMV vs. VBR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SMMV vs. VBR

Last updated Jun 4, 2026

SMMV (iShares MSCI USA Small-Cap Min Vol Factor ETF) and VBR (Vanguard Small-Cap Value ETF) are both exchange-traded funds - SMMV is a Small Cap Growth Equities fund tracking the MSCI USA Small Cap Minimum Volatility (USD) Index, while VBR is a Small Cap Value Equities fund tracking the CRSP US Small Cap Value Index. Both are passively managed. Over the past 5 years, SMMV returned 4.87%/yr vs 7.95%/yr for VBR. Their correlation of 0.85 suggests significant overlap in exposure. SMMV charges 0.20%/yr vs 0.05%/yr for VBR.

Performance

SMMV vs. VBR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV) and Vanguard Small-Cap Value ETF (VBR). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SMMV achieves a 2.04% return, which is significantly lower than VBR's 11.67% return.

SMMV

1D
-0.27%
1M
-1.47%
YTD
2.04%
6M
2.90%
1Y
6.20%
3Y*
10.82%
5Y*
4.87%
10Y*
—

VBR

1D
-0.39%
1M
2.39%
YTD
11.67%
6M
11.95%
1Y
25.78%
3Y*
16.44%
5Y*
7.95%
10Y*
10.53%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SMMV vs. VBR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SMMV
iShares MSCI USA Small-Cap Min Vol Factor ETF		2.04%6.42%18.29%5.63%-10.00%16.64%-2.88%24.21%1.15%14.31%
VBR
Vanguard Small-Cap Value ETF		11.67%9.09%12.40%16.00%-9.38%28.08%5.90%22.78%-12.28%11.81%

Correlation

The correlation between SMMV and VBR is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.84

Correlation (3Y)
Calculated over the trailing 3-year period

0.89

Correlation (5Y)
Calculated over the trailing 5-year period

0.90

Correlation (All Time)
Calculated using the full available price history since Sep 12, 2016

0.85

The correlation between SMMV and VBR has been stable across timeframes, ranging from 0.84 to 0.90 - a consistent structural relationship.

SMMV vs. VBR - Sectors Allocation Comparison

Sectors
SMMV
VBR

Healthcare

17.1%
7.9%

Industrials

13.8%
18.1%

Real Estate

13.4%
10.1%

Technology

10.9%
10.6%

Financial Services

10.9%
17.6%

Consumer Defensive

8.1%
4.0%

Utilities

7.7%
4.8%

Consumer Cyclical

5.6%
12.4%

Communication Services

5.4%
2.5%

Energy

4.5%
5.2%

Basic Materials

2.0%
6.3%

Healthcare

SMMV
17.1%
VBR
7.9%

Industrials

SMMV
13.8%
VBR
18.1%

Real Estate

SMMV
13.4%
VBR
10.1%

Technology

SMMV
10.9%
VBR
10.6%

Financial Services

SMMV
10.9%
VBR
17.6%

Consumer Defensive

SMMV
8.1%
VBR
4.0%

Utilities

SMMV
7.7%
VBR
4.8%

Consumer Cyclical

SMMV
5.6%
VBR
12.4%

Communication Services

SMMV
5.4%
VBR
2.5%

Energy

SMMV
4.5%
VBR
5.2%

Basic Materials

SMMV
2.0%
VBR
6.3%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI USA Small-Cap Min Vol Factor ETF

Vanguard Small-Cap Value ETF

Often compared with SMMV:
SMMV vs. SMLFSMMV vs. SMLVSMMV vs. USMVSMMV vs. XMU.TOSMMV vs. IWMSMMV vs. VBSMMV vs. IVV
Often compared with VBR:
VBR vs. AVUVVBR vs. VBVBR vs. VBKVBR vs. VOOVBR vs. VTIVBR vs. VIOVVBR vs. VSIAX

Return for Risk

SMMV vs. VBR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SMMV
SMMV Risk / Return Rank: 2020
Overall Rank
SMMV Sharpe Ratio Rank: 1919
Sharpe Ratio Rank
SMMV Sortino Ratio Rank: 1919
Sortino Ratio Rank
SMMV Omega Ratio Rank: 1818
Omega Ratio Rank
SMMV Calmar Ratio Rank: 2020
Calmar Ratio Rank
SMMV Martin Ratio Rank: 2222
Martin Ratio Rank
VBR
VBR Risk / Return Rank: 5252
Overall Rank
VBR Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
VBR Sortino Ratio Rank: 5050
Sortino Ratio Rank
VBR Omega Ratio Rank: 4646
Omega Ratio Rank
VBR Calmar Ratio Rank: 5858
Calmar Ratio Rank
VBR Martin Ratio Rank: 5858
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SMMV vs. VBR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV) and Vanguard Small-Cap Value ETF (VBR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

SMMVVBRDifference
Sharpe ratioReturn per unit of total volatility
0.64
1.71

-1.07

Sortino ratioReturn per unit of downside risk
0.99
2.52

-1.53

Omega ratioGain probability vs. loss probability

1.11

1.30

-0.18

Calmar ratioReturn relative to maximum drawdown

0.89

2.93

-2.04

Martin ratioReturn relative to average drawdown

2.82

10.32

-7.50

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMMV vs. VBR - Sharpe Ratio Comparison

The current SMMV Sharpe Ratio is 0.64, which is lower than the VBR Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of SMMV and VBR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

SMMVVBRDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.64

1.71

-1.07

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.36

0.40

-0.04

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.49

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.52

0.42

+0.10

Drawdowns

SMMV vs. VBR - Drawdown Comparison

The maximum SMMV drawdown since its inception was -38.77%, smaller than the maximum VBR drawdown of -61.98%. Use the drawdown chart below to compare losses from any high point for SMMV and VBR.

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Drawdown Indicators

SMMVVBRDifference

Max Drawdown

Largest peak-to-trough decline

-38.77%

-61.98%

+23.21%

Max Drawdown (1Y)

Largest decline over 1 year

-7.02%

-8.85%

+1.83%

Max Drawdown (3Y)

Largest decline over 3 years

-13.68%

-24.19%

+10.51%

Max Drawdown (5Y)

Largest decline over 5 years

-18.00%

-24.19%

+6.19%

Max Drawdown (10Y)

Largest decline over 10 years

—

-45.28%

—

Current Drawdown

Current decline from peak

-4.44%

-0.39%

-4.05%

Average Drawdown

Average peak-to-trough decline

-5.10%

-8.27%

+3.17%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.20%

2.50%

-0.30%

Volatility

SMMV vs. VBR - Volatility Comparison

The current volatility for iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV) is 2.27%, while Vanguard Small-Cap Value ETF (VBR) has a volatility of 3.96%. This indicates that SMMV experiences smaller price fluctuations and is considered to be less risky than VBR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SMMVVBRDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.27%

3.96%

-1.69%

Volatility (6M)

Calculated over the trailing 6-month period

6.30%

10.46%

-4.16%

Volatility (1Y)

Calculated over the trailing 1-year period

9.73%

15.17%

-5.44%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.50%

19.77%

-6.27%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.69%

21.73%

-6.04%

SMMV vs. VBR - Expense Ratio Comparison

SMMV has a 0.20% expense ratio, which is higher than VBR's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SMMV vs. VBR - Dividend Comparison

SMMV's dividend yield for the trailing twelve months is around 1.75%, which matches VBR's 1.76% yield.

PositionTTM20252024202320222021202020192018201720162015
SMMV
iShares MSCI USA Small-Cap Min Vol Factor ETF		1.75%1.77%1.76%2.30%1.67%1.08%1.39%1.64%1.72%1.63%0.79%0.00%
VBR
Vanguard Small-Cap Value ETF		1.76%1.95%1.98%2.12%2.03%1.75%1.68%2.06%2.35%1.79%1.77%1.99%

Frequently Asked Questions

SMMV and VBR have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VBR has higher volatility (3.96%) compared to SMMV (2.27%). In terms of maximum drawdown, SMMV dropped -38.77% vs VBR's -61.98%.

On 5-year performance, VBR leads with 7.95% vs 4.87% for SMMV. On fees, VBR is cheaper at 0.05% per year. On volatility, SMMV has been the lower-risk option at 2.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, VBR has performed better with a 7.95% return vs 4.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VBR is cheaper with a 0.05% expense ratio, compared with 0.20% for SMMV.

SMMV and VBR have nearly identical dividend yields, around 1.75%.

SMMV is categorized as Small Cap Growth Equities, while VBR is Small Cap Value Equities. SMMV tracks MSCI USA Small Cap Minimum Volatility (USD) Index, while VBR tracks CRSP US Small Cap Value Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.20% for SMMV and 0.05% for VBR.

VBR currently has the higher Sharpe Ratio (1.71 vs 0.64), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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