NAESX vs. SPY
Compare and contrast key facts about Vanguard Small Cap Index Fund (NAESX) and State Street SPDR S&P 500 ETF (SPY).
NAESX is managed by Vanguard. It was launched on Oct 3, 1960. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
NAESX vs. SPY - Performance Comparison
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NAESX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NAESX Vanguard Small Cap Index Fund | -1.24% | 8.71% | 12.83% | 19.35% | -17.71% | 17.60% | 18.92% | 27.22% | -9.44% | 16.10% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, NAESX achieves a -1.24% return, which is significantly higher than SPY's -4.37% return. Over the past 10 years, NAESX has underperformed SPY with an annualized return of 10.02%, while SPY has yielded a comparatively higher 13.98% annualized return.
NAESX
- 1D
- -0.98%
- 1M
- -8.10%
- YTD
- -1.24%
- 6M
- 0.53%
- 1Y
- 15.94%
- 3Y*
- 11.71%
- 5Y*
- 4.89%
- 10Y*
- 10.02%
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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NAESX vs. SPY - Expense Ratio Comparison
NAESX has a 0.17% expense ratio, which is higher than SPY's 0.09% 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%.
Return for Risk
NAESX vs. SPY — Risk / Return Rank
NAESX
SPY
NAESX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Small Cap Index Fund (NAESX) and State Street SPDR S&P 500 ETF (SPY). 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.
| NAESX | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.74 | 0.93 | -0.19 |
Sortino ratioReturn per unit of downside risk | 1.18 | 1.45 | -0.27 |
Omega ratioGain probability vs. loss probability | 1.16 | 1.22 | -0.06 |
Calmar ratioReturn relative to maximum drawdown | 0.96 | 1.53 | -0.57 |
Martin ratioReturn relative to average drawdown | 4.15 | 7.30 | -3.15 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NAESX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.74 | 0.93 | -0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.24 | 0.69 | -0.45 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.47 | 0.78 | -0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.56 | -0.14 |
Correlation
The correlation between NAESX and SPY is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
NAESX vs. SPY - Dividend Comparison
NAESX's dividend yield for the trailing twelve months is around 1.25%, more than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NAESX Vanguard Small Cap Index Fund | 1.25% | 1.22% | 1.19% | 1.43% | 1.41% | 1.12% | 1.05% | 1.27% | 1.53% | 1.24% | 1.39% | 1.35% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
NAESX vs. SPY - Drawdown Comparison
The maximum NAESX drawdown since its inception was -59.77%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for NAESX and SPY.
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Drawdown Indicators
| NAESX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.77% | -55.19% | -4.58% |
Max Drawdown (1Y)Largest decline over 1 year | -14.30% | -12.05% | -2.25% |
Max Drawdown (5Y)Largest decline over 5 years | -28.19% | -24.50% | -3.69% |
Max Drawdown (10Y)Largest decline over 10 years | -41.82% | -33.72% | -8.10% |
Current DrawdownCurrent decline from peak | -8.98% | -6.24% | -2.74% |
Average DrawdownAverage peak-to-trough decline | -11.86% | -9.09% | -2.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.30% | 2.52% | +0.78% |
Volatility
NAESX vs. SPY - Volatility Comparison
Vanguard Small Cap Index Fund (NAESX) has a higher volatility of 5.90% compared to State Street SPDR S&P 500 ETF (SPY) at 5.31%. This indicates that NAESX's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NAESX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.90% | 5.31% | +0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 12.22% | 9.47% | +2.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.62% | 19.05% | +2.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.70% | 17.06% | +3.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.56% | 17.92% | +3.64% |