- ISIN
- US78468R8878
- CUSIP
- 78468R887
- Issuer
- State Street
- Inception Date
- Feb 20, 2013
- Region
- North America (U.S.)
- Category
- Volatility Hedged Equity
- Leveraged
- 1x (No leverage)
- Index Tracked
- SSGA US Small Cap Low Volatility Index
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Micro-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $245M
Share Price Chart
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Performance
SMLV Performance Chart
SPDR SSGA US Small Cap Low Volatility Index ETF (SMLV) is up 16.9% since the beginning of the year. SMLV is currently trading at $152 per share. Investors who bought $1,000 worth of SMLV shares 5 years ago would now be looking at an investment worth $1,534.
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Returns By Period
SPDR SSGA US Small Cap Low Volatility Index ETF (SMLV) has returned 16.87% so far this year and 27.44% over the past 12 months. Over the last ten years, SMLV has returned 10.73% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
SPDR SSGA US Small Cap Low Volatility Index ETF
- 1D
- 0.01%
- 1M
- 3.13%
- YTD
- 16.87%
- 6M
- 14.82%
- 1Y
- 27.44%
- 3Y*
- 17.62%
- 5Y*
- 8.93%
- 10Y*
- 10.73%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
SMLV Monthly Returns History
Based on dividend-adjusted daily data since Feb 21, 2013, SMLV's average daily return is +0.05%, while the average monthly return is +0.98%. At this rate, an investment would double in approximately 5.9 years.
Historically, 61% of months were positive and 39% were negative. The best month was Nov 2020 with a return of +17.2%, while the worst month was Mar 2020 at -24.4%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 4 months.
On a daily basis, SMLV closed higher 52% of trading days. The best single day was Nov 6, 2024 with a return of +9.4%, while the worst single day was Mar 16, 2020 at -12.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.84% | 2.00% | -2.65% | 6.55% | 1.80% | 2.51% | 16.87% | ||||||
| 2025 | 3.02% | -0.44% | -5.49% | -3.11% | 3.79% | 1.94% | -1.15% | 7.37% | -1.65% | -2.51% | 3.50% | 0.94% | 5.66% |
| 2024 | -4.19% | 1.11% | 3.32% | -5.35% | 3.84% | 0.76% | 15.03% | -0.41% | -0.75% | 0.82% | 11.01% | -7.42% | 16.77% |
| 2023 | 5.31% | -0.92% | -5.65% | -3.82% | -2.70% | 5.63% | 5.56% | -3.61% | -5.30% | -4.07% | 7.10% | 11.60% | 7.52% |
| 2022 | -4.95% | 0.12% | 0.81% | -5.97% | 2.44% | -4.54% | 6.85% | -3.73% | -7.45% | 11.91% | 3.14% | -4.77% | -7.69% |
| 2021 | 1.57% | 10.44% | 4.21% | 2.25% | 1.05% | -1.60% | -0.03% | 2.43% | -2.16% | 3.87% | -2.66% | 6.07% | 27.67% |
Benchmark Metrics
SPDR SSGA US Small Cap Low Volatility Index ETF has an annualized alpha of 0.53%, beta of 0.86, and R2 of 0.57 versus S&P 500 Index. Calculated based on daily prices since February 21, 2013.
- This ETF participated in 93.69% of S&P 500 Index downside but only 87.05% of its upside - more exposed to losses than it benefited from rallies.
- With beta of 0.86 and R2 of 0.57, this ETF moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- 0.53%
- Beta
- 0.86
- R²
- 0.57
- Upside Capture
- 87.05%
- Downside Capture
- 93.69%
Expense Ratio
SMLV has an expense ratio of 0.12%, which is considered low.
Return for Risk
Risk / Return Rank
SMLV ranks 59 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for SPDR SSGA US Small Cap Low Volatility Index ETF (SMLV) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SMLV | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.37 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.75 | 2.78 | +0.97 |
| Martin ratioReturn relative to average drawdown | 10.36 | 12.44 | -2.08 |
Dividends
Dividend History
SPDR SSGA US Small Cap Low Volatility Index ETF provided a 2.88% dividend yield over the last twelve months, with an annual payout of $4.37 per share. The fund has been increasing its distributions for 5 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $4.37 | $3.59 | $3.42 | $3.01 | $2.59 | $2.54 | $2.36 | $2.62 | $2.61 | $7.24 | $2.84 | $1.96 |
Dividend yield | 2.88% | 2.74% | 2.68% | 2.68% | 2.40% | 2.12% | 2.47% | 2.62% | 3.15% | 7.92% | 3.04% | 2.63% |
Monthly Dividends
The table displays the monthly dividend distributions for SPDR SSGA US Small Cap Low Volatility Index ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.71 | $0.00 | $0.00 | $0.91 | $1.63 | ||||||
| 2025 | $0.00 | $0.00 | $0.85 | $0.00 | $0.00 | $0.83 | $0.00 | $0.00 | $0.87 | $0.00 | $0.00 | $1.04 | $3.59 |
| 2024 | $0.00 | $0.00 | $0.56 | $0.00 | $0.00 | $0.90 | $0.00 | $0.00 | $0.89 | $0.00 | $0.00 | $1.07 | $3.42 |
| 2023 | $0.00 | $0.00 | $0.84 | $0.00 | $0.00 | $0.64 | $0.00 | $0.00 | $0.66 | $0.00 | $0.00 | $0.87 | $3.01 |
| 2022 | $0.00 | $0.00 | $0.47 | $0.00 | $0.00 | $0.65 | $0.00 | $0.00 | $0.59 | $0.00 | $0.00 | $0.88 | $2.59 |
| 2021 | $0.00 | $0.00 | $0.45 | $0.00 | $0.00 | $0.70 | $0.00 | $0.00 | $0.59 | $0.00 | $0.00 | $0.81 | $2.54 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the SPDR SSGA US Small Cap Low Volatility Index ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the SPDR SSGA US Small Cap Low Volatility Index ETF was 42.45%, occurring on Mar 23, 2020. Recovery took 200 trading sessions.
The current SPDR SSGA US Small Cap Low Volatility Index ETF drawdown is 1.23%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -42.45%Mar 2020 | 2mo 6d | 9mo 19d | 11mo 25dJan 2020 - Jan 2021 |
2025 selloff2025 | -20.40%Apr 2025 | 4mo 13d | 9mo 9d | 1y 1moNov 2024 - Jan 2026 |
2023 correction2023 | -18.97%Oct 2023 | 1y 9mo | 8mo 18d | 2y 6moJan 2022 - Jul 2024 |
Rate-hike selloffLate 2018 | -18.83%Dec 2018 | 3mo 21d | 8mo 23d | 1y 9dSep 2018 - Sep 2019 |
2016 correction2016 | -14.32%Jan 2016 | 1mo 20d | 3mo 7d | 4mo 27dDec 2015 - Apr 2016 |
Drawdown Indicators
| SMLV | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.45% | -56.78% | +14.33% |
Max Drawdown (1Y)Largest decline over 1 year | -7.34% | -9.10% | +1.76% |
Max Drawdown (3Y)Largest decline over 3 years | -20.40% | -18.90% | -1.50% |
Max Drawdown (5Y)Largest decline over 5 years | -20.40% | -25.43% | +5.03% |
Max Drawdown (10Y)Largest decline over 10 years | -42.45% | -33.92% | -8.53% |
Current DrawdownCurrent decline from peak | -1.23% | -1.80% | +0.57% |
Average DrawdownAverage peak-to-trough decline | -5.44% | -10.71% | +5.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.65% | 2.03% | +0.62% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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