ISCV vs. SLYV

Last updated Aug 3, 2026

ISCV (iShares Morningstar Small Cap Value ETF) and SLYV (SPDR S&P 600 Small Cap Value ETF) are both Small Cap Value Equities funds - ISCV tracks the Morningstar US Small Cap Broad Value Extended Index while SLYV tracks the S&P SmallCap 600 Value Index. Both are passively managed. Over the past 10 years, ISCV returned 9.09%/yr vs 10.28%/yr for SLYV. Their 0.95 correlation means they have historically moved very closely together. ISCV charges 0.06%/yr vs 0.15%/yr for SLYV.

Performance

ISCV vs. SLYV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Morningstar Small Cap Value ETF (ISCV) and SPDR S&P 600 Small Cap Value ETF (SLYV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ISCV achieves a 17.01% return, which is significantly lower than SLYV's 20.36% return. Over the past 10 years, ISCV has underperformed SLYV with an annualized return of 9.09%, while SLYV has yielded a comparatively higher 10.28% annualized return.

ISCV

• 1D: -0.47%
• 1M: 0.89%
• 6M: 11.85%
• YTD: 17.01%
• 1Y: 32.31%
• 3Y*: 13.72%
• 5Y*: 9.24%
• 10Y*: 9.09%
• ALL TIME*: 8.97%

SLYV

• 1D: 0.14%
• 1M: 0.37%
• 6M: 12.96%
• YTD: 20.36%
• 1Y: 39.50%
• 3Y*: 12.50%
• 5Y*: 8.01%
• 10Y*: 10.28%
• ALL TIME*: 10.74%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ISCV iShares Morningstar Small Cap Value ETF	$725.99K	$721.48K	$862.94K
SLYV SPDR S&P 600 Small Cap Value ETF	$16.96M	$15.72M	$22.59M

ISCV vs. SLYV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ISCV iShares Morningstar Small Cap Value ETF	17.01%	10.38%	9.31%	16.55%	-10.58%	29.15%	0.86%	19.51%	-17.39%	8.59%
SLYV SPDR S&P 600 Small Cap Value ETF	20.36%	6.54%	7.28%	14.82%	-11.08%	30.57%	2.68%	24.26%	-12.77%	11.74%

Correlation

The correlation between ISCV and SLYV is 0.95, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.95
Correlation (3Y) Balances recent behavior with more history.	0.97
Correlation (5Y) Shows whether the relationship held over a longer period.	0.98
Correlation (10Y) Provides a long-term view across more market conditions.	0.96
Correlation (All Time) Calculated using the full available price history since Jul 13, 2004	0.95

The correlation between ISCV and SLYV has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.

ISCV vs. SLYV - Sectors Allocation Comparison

Sectors	ISCV	SLYV
Financial Services	22.4%	21.6%
Consumer Cyclical	14.6%	15.5%
Industrials	12.7%	12.3%
Healthcare	11.4%	6.3%
Real Estate	11.3%	8.2%
Technology	8.4%	11.3%
Energy	5.0%	7.3%
Consumer Defensive	4.7%	5.7%
Utilities	3.9%	2.1%
Basic Materials	3.1%	5.7%
Communication Services	2.5%	3.8%

Return for Risk

ISCV vs. SLYV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ISCV

ISCV Risk / Return Rank: 84
ISCV Sharpe Ratio Rank: 83
ISCV Sortino Ratio Rank: 85
ISCV Omega Ratio Rank: 80
ISCV Calmar Ratio Rank: 85
ISCV Martin Ratio Rank: 85

SLYV

SLYV Risk / Return Rank: 88
SLYV Sharpe Ratio Rank: 88
SLYV Sortino Ratio Rank: 89
SLYV Omega Ratio Rank: 85
SLYV Calmar Ratio Rank: 91
SLYV Martin Ratio Rank: 89

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ISCV vs. SLYV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Small Cap Value ETF (ISCV) and SPDR S&P 600 Small Cap Value ETF (SLYV). 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.

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.

	ISCV	SLYV	Difference
Sharpe ratio: Return per unit of total volatility	1.92	2.10	-0.19
Sortino ratio: Return per unit of downside risk	2.84	3.05	-0.21
Omega ratio: Gain probability vs. loss probability	1.34	1.37	-0.03
Calmar ratio: Return relative to maximum drawdown	3.25	3.96	-0.72
Martin ratio: Return relative to average drawdown	12.04	13.69	-1.65

ISCV vs. SLYV - Sharpe Ratio Comparison

The current ISCV Sharpe Ratio is 1.92, which is comparable to the SLYV Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of ISCV and SLYV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ISCV vs. SLYV - Drawdown Comparison

The maximum ISCV drawdown since its inception was -63.14%, roughly equal to the maximum SLYV drawdown of -61.15%. Use the drawdown chart below to compare losses from any high point for ISCV and SLYV.

Drawdown Indicators

	ISCV	SLYV	Difference
Max Drawdown Largest peak-to-trough decline	-63.14%	-61.15%	-1.99%
Max Drawdown (1Y) Largest decline over 1 year	-9.25%	-9.36%	+0.11%
Max Drawdown (3Y) Largest decline over 3 years	-25.35%	-28.68%	+3.33%
Max Drawdown (5Y) Largest decline over 5 years	-25.35%	-28.68%	+3.33%
Max Drawdown (10Y) Largest decline over 10 years	-51.56%	-47.73%	-3.83%
Current Drawdown Current decline from peak	-1.36%	-1.54%	+0.18%
Average Drawdown Average peak-to-trough decline	-9.08%	-8.89%	-0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.49%	2.71%	-0.22%

Volatility

ISCV vs. SLYV - Volatility Comparison

iShares Morningstar Small Cap Value ETF (ISCV) and SPDR S&P 600 Small Cap Value ETF (SLYV) have volatilities of 3.47% and 3.53%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ISCV	SLYV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.47%	3.53%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	10.28%	11.08%	-0.80%
Volatility (1Y) Calculated over the trailing 1-year period	15.74%	17.69%	-1.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.59%	21.69%	-1.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.20%	23.89%	-0.69%

ISCV vs. SLYV - Expense Ratio Comparison

ISCV has a 0.06% expense ratio, which is lower than SLYV's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ISCV vs. SLYV - Dividend Comparison

ISCV's dividend yield for the trailing twelve months is around 1.83%, which matches SLYV's 1.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ISCV iShares Morningstar Small Cap Value ETF	1.83%	2.04%	2.01%	2.21%	2.12%	1.95%	2.01%	2.36%	2.48%	1.74%	2.49%	2.60%
SLYV SPDR S&P 600 Small Cap Value ETF	1.82%	2.02%	2.30%	2.11%	1.47%	1.94%	1.40%	1.67%	2.14%	5.53%	2.18%	6.55%

Frequently Asked Questions

Can I hold both ISCV and SLYV in my portfolio?

With a correlation of 0.95, ISCV and SLYV move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, ISCV or SLYV?

SLYV has higher volatility (3.53%) compared to ISCV (3.47%). In terms of maximum drawdown, ISCV dropped -63.14% vs SLYV's -61.15%.

Which ETF is better, ISCV or SLYV?

On 10-year performance, SLYV leads with 10.28% vs 9.09% for ISCV. On fees, ISCV is cheaper at 0.06% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ISCV or SLYV?

Over the 10-year period, SLYV has performed better with a 10.28% return vs 9.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ISCV or SLYV?

ISCV is cheaper with a 0.06% expense ratio, compared with 0.15% for SLYV.

Which ETF pays a higher dividend yield, ISCV or SLYV?

ISCV and SLYV have nearly identical dividend yields, around 1.83%.

What is the main difference between ISCV and SLYV?

ISCV tracks Morningstar US Small Cap Broad Value Extended Index, while SLYV tracks S&P SmallCap 600 Value Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.06% for ISCV and 0.15% for SLYV.

Which has better risk-adjusted returns?

SLYV currently has the higher Sharpe Ratio (2.10 vs 1.92), 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.