SIZE vs. VFQY

Last updated Jun 4, 2026

SIZE (iShares MSCI USA Size Factor ETF) and VFQY (Vanguard U.S. Quality Factor ETF) are both Mid Cap Blend Equities funds. SIZE is passively managed, while VFQY is actively managed. Over the past 5 years, SIZE returned 8.07%/yr vs 8.37%/yr for VFQY. Their correlation of 0.94 suggests significant overlap in exposure. SIZE charges 0.15%/yr vs 0.13%/yr for VFQY.

Performance

SIZE vs. VFQY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Size Factor ETF (SIZE) and Vanguard U.S. Quality Factor ETF (VFQY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SIZE achieves a 9.07% return, which is significantly higher than VFQY's 7.68% return.

SIZE

• 1D: -0.68%
• 1M: 3.62%
• YTD: 9.07%
• 6M: 8.29%
• 1Y: 18.11%
• 3Y*: 15.94%
• 5Y*: 8.07%
• 10Y*: 11.76%

VFQY

• 1D: -0.31%
• 1M: 3.82%
• YTD: 7.68%
• 6M: 7.73%
• 1Y: 18.92%
• 3Y*: 16.10%
• 5Y*: 8.37%
• 10Y*: —

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

SIZE vs. VFQY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SIZE iShares MSCI USA Size Factor ETF	9.07%	10.51%	14.37%	17.78%	-15.86%	25.05%	16.26%	28.97%	-7.09%
VFQY Vanguard U.S. Quality Factor ETF	7.68%	10.24%	12.93%	22.48%	-15.74%	27.96%	16.97%	25.75%	-7.85%

Correlation

The correlation between SIZE and VFQY is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Feb 16, 2018	0.94

The correlation between SIZE and VFQY has been stable across timeframes, ranging from 0.90 to 0.95 - a consistent structural relationship.

SIZE vs. VFQY - Sectors Allocation Comparison

Sectors	SIZE	VFQY
Technology	19.9%	25.8%
Industrials	16.1%	16.8%
Financial Services	13.5%	18.9%
Consumer Cyclical	9.8%	13.3%
Healthcare	9.6%	8.9%
Real Estate	5.7%	-
Consumer Defensive	5.7%	9.2%
Utilities	5.5%	-
Energy	5.2%	2.2%
Basic Materials	4.8%	2.2%
Communication Services	4.1%	2.8%

Return for Risk

SIZE vs. VFQY — Risk / Return Rank

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

SIZE

SIZE Risk / Return Rank: 44
SIZE Sharpe Ratio Rank: 40
SIZE Sortino Ratio Rank: 42
SIZE Omega Ratio Rank: 38
SIZE Calmar Ratio Rank: 46
SIZE Martin Ratio Rank: 52

VFQY

VFQY Risk / Return Rank: 41
VFQY Sharpe Ratio Rank: 39
VFQY Sortino Ratio Rank: 40
VFQY Omega Ratio Rank: 36
VFQY Calmar Ratio Rank: 42
VFQY Martin Ratio Rank: 46

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.

SIZE vs. VFQY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Size Factor ETF (SIZE) and Vanguard U.S. Quality Factor ETF (VFQY). 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.

	SIZE	VFQY	Difference
Sharpe ratio: Return per unit of total volatility	1.43	1.41	+0.02
Sortino ratio: Return per unit of downside risk	2.12	2.07	+0.05
Omega ratio: Gain probability vs. loss probability	1.25	1.24	+0.01
Calmar ratio: Return relative to maximum drawdown	2.28	2.08	+0.20
Martin ratio: Return relative to average drawdown	8.88	7.71	+1.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SIZE vs. VFQY - Sharpe Ratio Comparison

The current SIZE Sharpe Ratio is 1.43, which is comparable to the VFQY Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of SIZE and VFQY, 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

	SIZE	VFQY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.43	1.41	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	0.46	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.54	+0.15

Drawdowns

SIZE vs. VFQY - Drawdown Comparison

The maximum SIZE drawdown since its inception was -39.15%, roughly equal to the maximum VFQY drawdown of -37.41%. Use the drawdown chart below to compare losses from any high point for SIZE and VFQY.

Drawdown Indicators

	SIZE	VFQY	Difference
Max Drawdown Largest peak-to-trough decline	-39.15%	-37.41%	-1.74%
Max Drawdown (1Y) Largest decline over 1 year	-7.97%	-9.12%	+1.15%
Max Drawdown (3Y) Largest decline over 3 years	-18.71%	-20.67%	+1.96%
Max Drawdown (5Y) Largest decline over 5 years	-24.03%	-25.93%	+1.90%
Max Drawdown (10Y) Largest decline over 10 years	-39.15%	—	—
Current Drawdown Current decline from peak	-0.68%	-0.31%	-0.37%
Average Drawdown Average peak-to-trough decline	-4.18%	-6.69%	+2.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	2.46%	-0.42%

Volatility

SIZE vs. VFQY - Volatility Comparison

iShares MSCI USA Size Factor ETF (SIZE) has a higher volatility of 3.17% compared to Vanguard U.S. Quality Factor ETF (VFQY) at 2.70%. This indicates that SIZE's price experiences larger fluctuations and is considered to be riskier than VFQY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIZE	VFQY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.17%	2.70%	+0.47%
Volatility (6M) Calculated over the trailing 6-month period	9.54%	9.48%	+0.06%
Volatility (1Y) Calculated over the trailing 1-year period	12.73%	13.52%	-0.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.39%	18.33%	-0.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.69%	20.87%	-2.18%

SIZE vs. VFQY - Expense Ratio Comparison

SIZE has a 0.15% expense ratio, which is higher than VFQY's 0.13% 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

SIZE vs. VFQY - Dividend Comparison

SIZE's dividend yield for the trailing twelve months is around 1.42%, more than VFQY's 1.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SIZE iShares MSCI USA Size Factor ETF	1.42%	1.50%	1.53%	1.42%	1.59%	1.19%	1.43%	1.35%	2.43%	1.58%	1.88%	1.95%
VFQY Vanguard U.S. Quality Factor ETF	1.10%	1.17%	1.34%	1.38%	1.43%	0.98%	1.22%	1.34%	1.31%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SIZE and VFQY in my portfolio?

SIZE and VFQY have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIZE or VFQY?

SIZE has higher volatility (3.17%) compared to VFQY (2.70%). In terms of maximum drawdown, SIZE dropped -39.15% vs VFQY's -37.41%.

Which ETF is better, SIZE or VFQY?

On 5-year performance, VFQY leads with 8.37% vs 8.07% for SIZE. On fees, VFQY is cheaper at 0.13% per year. On volatility, VFQY has been the lower-risk option at 2.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SIZE or VFQY?

Over the 5-year period, VFQY has performed better with a 8.37% return vs 8.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SIZE or VFQY?

VFQY is cheaper with a 0.13% expense ratio, compared with 0.15% for SIZE.

Which ETF pays a higher dividend yield, SIZE or VFQY?

SIZE has the higher dividend yield at 1.42%, compared with 1.10% for VFQY.

What is the main difference between SIZE and VFQY?

They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.15% for SIZE and 0.13% for VFQY.

Which has better risk-adjusted returns?

SIZE currently has the higher Sharpe Ratio (1.43 vs 1.41), 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.