SHE vs. VV

Last updated Jun 5, 2026

SHE (SPDR SSGA Gender Diversity Index ETF) and VV (Vanguard Large-Cap ETF) are both exchange-traded funds - SHE is a Large Cap Growth Equities fund tracking the SSGA Gender Diversity (TR), while VV is a Large Cap Blend Equities fund tracking the CRSP US Large Cap Index. Both are passively managed. Over the past 10 years, SHE returned 12.80%/yr vs 15.57%/yr for VV. Their correlation of 0.92 suggests significant overlap in exposure. SHE charges 0.20%/yr vs 0.04%/yr for VV.

Performance

SHE vs. VV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR SSGA Gender Diversity Index ETF (SHE) and Vanguard Large-Cap ETF (VV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SHE achieves a 19.26% return, which is significantly higher than VV's 11.16% return. Over the past 10 years, SHE has underperformed VV with an annualized return of 12.80%, while VV has yielded a comparatively higher 15.57% annualized return.

SHE

• 1D: -0.25%
• 1M: 8.05%
• YTD: 19.26%
• 6M: 20.63%
• 1Y: 30.95%
• 3Y*: 24.26%
• 5Y*: 10.83%
• 10Y*: 12.80%

VV

• 1D: 0.42%
• 1M: 4.83%
• YTD: 11.16%
• 6M: 10.98%
• 1Y: 28.29%
• 3Y*: 22.94%
• 5Y*: 13.64%
• 10Y*: 15.57%

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

SHE vs. VV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SHE SPDR SSGA Gender Diversity Index ETF	19.26%	15.50%	23.35%	22.37%	-21.73%	15.17%	17.93%	23.63%	-3.48%	19.56%
VV Vanguard Large-Cap ETF	11.16%	18.11%	25.25%	27.18%	-19.91%	27.41%	21.04%	31.25%	-4.46%	22.00%

Correlation

The correlation between SHE and VV is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Mar 9, 2016	0.92

The correlation between SHE and VV has been stable across timeframes, ranging from 0.88 to 0.93 - a consistent structural relationship.

SHE vs. VV - Sectors Allocation Comparison

Sectors	SHE	VV
Technology	38.0%	35.9%
Financial Services	11.9%	11.8%
Communication Services	9.5%	11.2%
Industrials	8.9%	8.0%
Consumer Cyclical	8.9%	9.8%
Healthcare	8.7%	8.6%
Consumer Defensive	4.6%	4.8%
Energy	3.4%	3.6%
Utilities	2.2%	2.7%
Real Estate	1.9%	1.7%
Basic Materials	1.9%	1.6%

Return for Risk

SHE vs. VV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SHE

SHE Risk / Return Rank: 75
SHE Sharpe Ratio Rank: 76
SHE Sortino Ratio Rank: 77
SHE Omega Ratio Rank: 72
SHE Calmar Ratio Rank: 73
SHE Martin Ratio Rank: 78

VV

VV Risk / Return Rank: 71
VV Sharpe Ratio Rank: 74
VV Sortino Ratio Rank: 73
VV Omega Ratio Rank: 72
VV Calmar Ratio Rank: 63
VV Martin Ratio Rank: 75

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.

SHE vs. VV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR SSGA Gender Diversity Index ETF (SHE) and Vanguard Large-Cap ETF (VV). 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.

	SHE	VV	Difference
Sharpe ratio: Return per unit of total volatility	2.40	2.37	+0.03
Sortino ratio: Return per unit of downside risk	3.39	3.24	+0.15
Omega ratio: Gain probability vs. loss probability	1.42	1.43	-0.01
Calmar ratio: Return relative to maximum drawdown	3.64	3.09	+0.55
Martin ratio: Return relative to average drawdown	14.81	14.11	+0.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SHE vs. VV - Sharpe Ratio Comparison

The current SHE Sharpe Ratio is 2.40, which is comparable to the VV Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of SHE and VV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SHE	VV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.40	2.37	+0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.80	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.71	0.86	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.60	+0.14

Drawdowns

SHE vs. VV - Drawdown Comparison

The maximum SHE drawdown since its inception was -35.80%, smaller than the maximum VV drawdown of -54.81%. Use the drawdown chart below to compare losses from any high point for SHE and VV.

Drawdown Indicators

	SHE	VV	Difference
Max Drawdown Largest peak-to-trough decline	-35.80%	-54.81%	+19.01%
Max Drawdown (1Y) Largest decline over 1 year	-8.54%	-9.21%	+0.67%
Max Drawdown (3Y) Largest decline over 3 years	-17.07%	-18.97%	+1.90%
Max Drawdown (5Y) Largest decline over 5 years	-31.69%	-25.66%	-6.03%
Max Drawdown (10Y) Largest decline over 10 years	-35.80%	-34.28%	-1.52%
Current Drawdown Current decline from peak	-0.83%	-0.30%	-0.53%
Average Drawdown Average peak-to-trough decline	-6.30%	-6.84%	+0.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.10%	2.01%	+0.09%

Volatility

SHE vs. VV - Volatility Comparison

SPDR SSGA Gender Diversity Index ETF (SHE) has a higher volatility of 4.96% compared to Vanguard Large-Cap ETF (VV) at 2.79%. This indicates that SHE's price experiences larger fluctuations and is considered to be riskier than VV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHE	VV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.96%	2.79%	+2.17%
Volatility (6M) Calculated over the trailing 6-month period	10.30%	8.99%	+1.31%
Volatility (1Y) Calculated over the trailing 1-year period	12.93%	11.99%	+0.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.22%	17.22%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.03%	18.19%	-0.16%

SHE vs. VV - Expense Ratio Comparison

SHE has a 0.20% expense ratio, which is higher than VV's 0.04% 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

SHE vs. VV - Dividend Comparison

SHE's dividend yield for the trailing twelve months is around 1.06%, more than VV's 0.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SHE SPDR SSGA Gender Diversity Index ETF	1.06%	1.18%	1.14%	1.37%	1.54%	0.99%	1.24%	1.91%	7.39%	5.37%	6.41%	0.00%
VV Vanguard Large-Cap ETF	0.97%	1.08%	1.24%	1.41%	1.66%	1.19%	1.46%	1.81%	2.09%	1.75%	1.98%	1.96%

Frequently Asked Questions

Can I hold both SHE and VV in my portfolio?

SHE and VV have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SHE or VV?

SHE has higher volatility (4.96%) compared to VV (2.79%). In terms of maximum drawdown, SHE dropped -35.80% vs VV's -54.81%.

Which ETF is better, SHE or VV?

On 10-year performance, VV leads with 15.57% vs 12.80% for SHE. On fees, VV is cheaper at 0.04% per year. On volatility, VV has been the lower-risk option at 2.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SHE or VV?

Over the 10-year period, VV has performed better with a 15.57% return vs 12.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SHE or VV?

VV is cheaper with a 0.04% expense ratio, compared with 0.20% for SHE.

Which ETF pays a higher dividend yield, SHE or VV?

SHE has the higher dividend yield at 1.06%, compared with 0.97% for VV.

What is the main difference between SHE and VV?

SHE is categorized as Large Cap Growth Equities, while VV is Large Cap Blend Equities. SHE tracks SSGA Gender Diversity (TR), while VV tracks CRSP US Large Cap Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.20% for SHE and 0.04% for VV.

Which has better risk-adjusted returns?

SHE currently has the higher Sharpe Ratio (2.40 vs 2.37), 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.