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LGLV vs. SMLF
Performance
Return for Risk
Drawdowns
Volatility
Dividends

LGLV vs. SMLF

Last updated Aug 2, 2026
Documentation

LGLV (SPDR SSGA US Large Cap Low Volatility Index ETF) and SMLF (iShares U.S. Small-Cap Equity Factor ETF) are both exchange-traded funds - LGLV is a Low Volatility fund tracking the State Street U.S. Large Cap Low Volatility Index, while SMLF is a Small Cap Blend Equities fund tracking the STOXX U.S. Small-Cap Equity Factor Index. Both are passively managed. Over the past 10 years, LGLV returned 11.19%/yr vs 12.07%/yr for SMLF. Their 0.65 correlation means they have sometimes moved together and sometimes differently. LGLV charges 0.12%/yr vs 0.15%/yr for SMLF.

Performance

LGLV vs. SMLF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR SSGA US Large Cap Low Volatility Index ETF (LGLV) and iShares U.S. Small-Cap Equity Factor ETF (SMLF). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, LGLV achieves a 7.61% return, which is significantly lower than SMLF's 15.73% return. Over the past 10 years, LGLV has underperformed SMLF with an annualized return of 11.19%, while SMLF has yielded a comparatively higher 12.07% annualized return.

LGLV

1D
0.02%
1M
0.47%
6M
3.70%
YTD
7.61%
1Y
10.51%
3Y*
11.84%
5Y*
8.32%
10Y*
11.19%
ALL TIME*
11.95%

SMLF

1D
-0.34%
1M
-2.11%
6M
11.39%
YTD
15.73%
1Y
27.75%
3Y*
16.57%
5Y*
10.96%
10Y*
12.07%
ALL TIME*
11.32%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

LGLV

SPDR SSGA US Large Cap Low Volatility Index ETF
$5.56M$4.60M$5.45M

SMLF

iShares U.S. Small-Cap Equity Factor ETF
$11.55M$13.63M$14.55M

LGLV vs. SMLF - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
LGLV
SPDR SSGA US Large Cap Low Volatility Index ETF		7.61%8.37%16.22%9.19%-8.17%27.95%7.42%30.83%0.32%17.84%
SMLF
iShares U.S. Small-Cap Equity Factor ETF		15.73%12.30%16.33%19.99%-12.19%26.53%8.38%21.56%-8.42%12.70%

Correlation

The correlation between LGLV and SMLF is 0.43, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.43

Correlation (3Y)
Balances recent behavior with more history.

0.59

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.68

Correlation (10Y)
Provides a long-term view across more market conditions.

0.69

Correlation (All Time)
Calculated using the full available price history since Apr 30, 2015

0.65

Over the past year, the correlation between LGLV and SMLF has dropped to 0.43 - well below their long-term average of 0.65, suggesting their price drivers have been diverging.

LGLV vs. SMLF - Sectors Allocation Comparison

Sectors
LGLV
SMLF

Industrials

18.7%
18.9%

Real Estate

17.8%
5.7%

Utilities

11.8%
2.0%

Financial Services

10.0%
14.1%

Consumer Cyclical

9.1%
11.7%

Technology

9.0%
19.2%

Healthcare

7.3%
14.4%

Consumer Defensive

5.6%
2.9%

Communication Services

3.9%
2.9%

Energy

3.5%
3.9%

Basic Materials

3.4%
4.2%

Industrials

LGLV
18.7%
SMLF
18.9%

Real Estate

LGLV
17.8%
SMLF
5.7%

Utilities

LGLV
11.8%
SMLF
2.0%

Financial Services

LGLV
10.0%
SMLF
14.1%

Consumer Cyclical

LGLV
9.1%
SMLF
11.7%

Technology

LGLV
9.0%
SMLF
19.2%

Healthcare

LGLV
7.3%
SMLF
14.4%

Consumer Defensive

LGLV
5.6%
SMLF
2.9%

Communication Services

LGLV
3.9%
SMLF
2.9%

Energy

LGLV
3.5%
SMLF
3.9%

Basic Materials

LGLV
3.4%
SMLF
4.2%

Compare stocks, funds, or ETFs

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

SPDR SSGA US Large Cap Low Volatility Index ETF

iShares U.S. Small-Cap Equity Factor ETF

Often compared with LGLV:
LGLV vs. SCHDLGLV vs. VOOLGLV vs. SMLVLGLV vs. VSMVLGLV vs. SPTMLGLV vs. GRIDLGLV vs. USVM
Often compared with SMLF:
SMLF vs. FSMDSMLF vs. SMLVSMLF vs. IWMSMLF vs. SMMVSMLF vs. VBRSMLF vs. GSSCSMLF vs. FZIPX

Return for Risk

LGLV vs. SMLF — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
LGLV
LGLV Risk / Return Rank: 3939
Overall Rank
LGLV Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
LGLV Sortino Ratio Rank: 4141
Sortino Ratio Rank
LGLV Omega Ratio Rank: 3737
Omega Ratio Rank
LGLV Calmar Ratio Rank: 4242
Calmar Ratio Rank
LGLV Martin Ratio Rank: 3535
Martin Ratio Rank
SMLF
SMLF Risk / Return Rank: 7070
Overall Rank
SMLF Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
SMLF Sortino Ratio Rank: 6666
Sortino Ratio Rank
SMLF Omega Ratio Rank: 6060
Omega Ratio Rank
SMLF Calmar Ratio Rank: 8282
Calmar Ratio Rank
SMLF Martin Ratio Rank: 7979
Martin Ratio Rank
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.

LGLV vs. SMLF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR SSGA US Large Cap Low Volatility Index ETF (LGLV) and iShares U.S. Small-Cap Equity Factor ETF (SMLF). 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.

LGLVSMLFDifference
Sharpe ratioReturn per unit of total volatility
0.99
1.49

-0.50

Sortino ratioReturn per unit of downside risk
1.53
2.16

-0.63

Omega ratioGain probability vs. loss probability

1.17

1.26

-0.08

Calmar ratioReturn relative to maximum drawdown

1.47

3.00

-1.53

Martin ratioReturn relative to average drawdown

3.41

10.03

-6.62

LGLV vs. SMLF - Sharpe Ratio Comparison

The current LGLV Sharpe Ratio is 0.99, which is lower than the SMLF Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of LGLV and SMLF, 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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Drawdowns

LGLV vs. SMLF - Drawdown Comparison

The maximum LGLV drawdown since its inception was -36.64%, smaller than the maximum SMLF drawdown of -41.89%. Use the drawdown chart below to compare losses from any high point for LGLV and SMLF.

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Drawdown Indicators

LGLVSMLFDifference

Max Drawdown

Largest peak-to-trough decline

-36.64%

-41.89%

+5.25%

Max Drawdown (1Y)

Largest decline over 1 year

-6.86%

-8.71%

+1.85%

Max Drawdown (3Y)

Largest decline over 3 years

-10.17%

-26.28%

+16.11%

Max Drawdown (5Y)

Largest decline over 5 years

-17.49%

-26.28%

+8.79%

Max Drawdown (10Y)

Largest decline over 10 years

-36.64%

-41.89%

+5.25%

Current Drawdown

Current decline from peak

-2.14%

-3.26%

+1.12%

Average Drawdown

Average peak-to-trough decline

-3.21%

-6.53%

+3.32%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.95%

2.60%

+0.35%

Volatility

LGLV vs. SMLF - Volatility Comparison

SPDR SSGA US Large Cap Low Volatility Index ETF (LGLV) has a higher volatility of 4.53% compared to iShares U.S. Small-Cap Equity Factor ETF (SMLF) at 4.00%. This indicates that LGLV's price experiences larger fluctuations and is considered to be riskier than SMLF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

LGLVSMLFDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.53%

4.00%

+0.53%

Volatility (6M)

Calculated over the trailing 6-month period

7.99%

12.80%

-4.81%

Volatility (1Y)

Calculated over the trailing 1-year period

10.16%

17.54%

-7.38%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.03%

21.01%

-7.98%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.09%

21.76%

-5.67%

LGLV vs. SMLF - Expense Ratio Comparison

LGLV has a 0.12% expense ratio, which is lower than SMLF'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

LGLV vs. SMLF - Dividend Comparison

LGLV's dividend yield for the trailing twelve months is around 1.99%, more than SMLF's 1.02% yield.

PositionTTM20252024202320222021202020192018201720162015
LGLV
SPDR SSGA US Large Cap Low Volatility Index ETF		1.99%1.94%1.93%2.03%1.95%1.65%1.98%1.89%2.09%4.39%2.54%2.97%
SMLF
iShares U.S. Small-Cap Equity Factor ETF		1.02%1.14%1.33%1.13%1.23%1.07%1.33%1.39%1.17%0.93%0.78%0.79%

Frequently Asked Questions

LGLV and SMLF have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

LGLV has higher volatility (4.53%) compared to SMLF (4.00%). In terms of maximum drawdown, LGLV dropped -36.64% vs SMLF's -41.89%.

On 10-year performance, SMLF leads with 12.07% vs 11.19% for LGLV. On fees, LGLV is cheaper at 0.12% per year. On volatility, SMLF has been the lower-risk option at 4.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SMLF has performed better with a 12.07% return vs 11.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

LGLV is cheaper with a 0.12% expense ratio, compared with 0.15% for SMLF.

LGLV has the higher dividend yield at 1.99%, compared with 1.02% for SMLF.

LGLV is categorized as Low Volatility, while SMLF is Small Cap Blend Equities. LGLV tracks State Street U.S. Large Cap Low Volatility Index, while SMLF tracks STOXX U.S. Small-Cap Equity Factor Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.12% for LGLV and 0.15% for SMLF.

SMLF currently has the higher Sharpe Ratio (1.49 vs 0.99), 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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