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SIZE vs. VIG
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SIZE vs. VIG

Last updated Jun 23, 2026

SIZE (iShares MSCI USA Size Factor ETF) and VIG (Vanguard Dividend Appreciation ETF) are both exchange-traded funds - SIZE is a Mid Cap Blend Equities fund tracking the MSCI USA Low Size Index, while VIG is a Dividend fund tracking the S&P U.S. Dividend Growers Index. Both are passively managed. Over the past 10 years, SIZE returned 12.04%/yr vs 13.40%/yr for VIG. Their correlation of 0.83 suggests significant overlap in exposure. SIZE charges 0.15%/yr vs 0.04%/yr for VIG.

Performance

SIZE vs. VIG - Performance Comparison

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

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Returns By Period

In the year-to-date period, SIZE achieves a 9.23% return, which is significantly higher than VIG's 7.53% return. Over the past 10 years, SIZE has underperformed VIG with an annualized return of 12.04%, while VIG has yielded a comparatively higher 13.40% annualized return.

SIZE

1D
-0.01%
1M
1.12%
YTD
9.23%
6M
7.56%
1Y
18.60%
3Y*
15.66%
5Y*
8.12%
10Y*
12.04%

VIG

1D
0.09%
1M
0.99%
YTD
7.53%
6M
6.96%
1Y
20.27%
3Y*
16.05%
5Y*
11.07%
10Y*
13.40%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SIZE vs. VIG - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SIZE
iShares MSCI USA Size Factor ETF		9.23%10.51%14.37%17.78%-15.86%25.05%16.26%28.97%-6.59%18.76%
VIG
Vanguard Dividend Appreciation ETF		7.53%14.17%16.99%14.51%-9.80%23.76%15.43%29.62%-2.08%22.22%

Correlation

The correlation between SIZE and VIG is 0.85, 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

0.85

Correlation (3Y)
Calculated over the trailing 3-year period

0.88

Correlation (5Y)
Calculated over the trailing 5-year period

0.90

Correlation (10Y)
Calculated over the trailing 10-year period

0.89

Correlation (All Time)
Calculated using the full available price history since Apr 18, 2013

0.83

The correlation between SIZE and VIG has been stable across timeframes, ranging from 0.83 to 0.90 - a consistent structural relationship.

SIZE vs. VIG - Sectors Allocation Comparison

Sectors
SIZE
VIG

Technology

20.0%
29.0%

Industrials

15.3%
11.3%

Financial Services

14.7%
19.9%

Consumer Cyclical

11.2%
4.4%

Healthcare

10.7%
16.6%

Utilities

5.4%
2.9%

Consumer Defensive

5.3%
9.3%

Real Estate

5.3%

-

Basic Materials

4.3%
3.3%

Communication Services

3.9%
0.5%

Energy

3.7%
3.2%

Technology

SIZE
20.0%
VIG
29.0%

Industrials

SIZE
15.3%
VIG
11.3%

Financial Services

SIZE
14.7%
VIG
19.9%

Consumer Cyclical

SIZE
11.2%
VIG
4.4%

Healthcare

SIZE
10.7%
VIG
16.6%

Utilities

SIZE
5.4%
VIG
2.9%

Consumer Defensive

SIZE
5.3%
VIG
9.3%

Real Estate

SIZE
5.3%
VIG

-

Basic Materials

SIZE
4.3%
VIG
3.3%

Communication Services

SIZE
3.9%
VIG
0.5%

Energy

SIZE
3.7%
VIG
3.2%

Compare stocks, funds, or ETFs

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iShares MSCI USA Size Factor ETF

Vanguard Dividend Appreciation ETF

Often compared with SIZE:
SIZE vs. XLGSIZE vs. SPYSIZE vs. QUALSIZE vs. QDVA.DESIZE vs. VOOSIZE vs. IJHSIZE vs. QGRO
Often compared with VIG:
VIG vs. SCHDVIG vs. VYMVIG vs. VOOVIG vs. DGROVIG vs. VDIGXVIG vs. VTIVIG vs. VTV

Return for Risk

SIZE vs. VIG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SIZE
SIZE Risk / Return Rank: 4545
Overall Rank
SIZE Sharpe Ratio Rank: 4242
Sharpe Ratio Rank
SIZE Sortino Ratio Rank: 4343
Sortino Ratio Rank
SIZE Omega Ratio Rank: 3939
Omega Ratio Rank
SIZE Calmar Ratio Rank: 4949
Calmar Ratio Rank
SIZE Martin Ratio Rank: 5454
Martin Ratio Rank
VIG
VIG Risk / Return Rank: 6161
Overall Rank
VIG Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
VIG Sortino Ratio Rank: 6666
Sortino Ratio Rank
VIG Omega Ratio Rank: 6161
Omega Ratio Rank
VIG Calmar Ratio Rank: 5353
Calmar Ratio Rank
VIG Martin Ratio Rank: 6060
Martin Ratio Rank
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. VIG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Size Factor ETF (SIZE) and Vanguard Dividend Appreciation ETF (VIG). 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.

SIZEVIGDifference
Sharpe ratioReturn per unit of total volatility
1.44
2.01

-0.57

Sortino ratioReturn per unit of downside risk
2.11
2.90

-0.79

Omega ratioGain probability vs. loss probability

1.25

1.36

-0.11

Calmar ratioReturn relative to maximum drawdown

2.34

2.57

-0.23

Martin ratioReturn relative to average drawdown

9.07

10.39

-1.32

SIZE vs. VIG - Sharpe Ratio Comparison

The current SIZE Sharpe Ratio is 1.44, which is comparable to the VIG Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of SIZE and VIG, 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

SIZE vs. VIG - Drawdown Comparison

The maximum SIZE drawdown since its inception was -39.15%, smaller than the maximum VIG drawdown of -46.81%. Use the drawdown chart below to compare losses from any high point for SIZE and VIG.

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Drawdown Indicators

SIZEVIGDifference

Max Drawdown

Largest peak-to-trough decline

-39.15%

-46.81%

+7.66%

Max Drawdown (1Y)

Largest decline over 1 year

-7.97%

-7.91%

-0.06%

Max Drawdown (3Y)

Largest decline over 3 years

-18.71%

-14.95%

-3.76%

Max Drawdown (5Y)

Largest decline over 5 years

-24.03%

-20.39%

-3.64%

Max Drawdown (10Y)

Largest decline over 10 years

-39.15%

-31.72%

-7.43%

Current Drawdown

Current decline from peak

-1.21%

-0.62%

-0.59%

Average Drawdown

Average peak-to-trough decline

-4.17%

-5.50%

+1.33%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.06%

1.96%

+0.10%

Volatility

SIZE vs. VIG - Volatility Comparison

iShares MSCI USA Size Factor ETF (SIZE) has a higher volatility of 3.85% compared to Vanguard Dividend Appreciation ETF (VIG) at 2.82%. This indicates that SIZE's price experiences larger fluctuations and is considered to be riskier than VIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SIZEVIGDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.85%

2.82%

+1.03%

Volatility (6M)

Calculated over the trailing 6-month period

9.82%

7.68%

+2.14%

Volatility (1Y)

Calculated over the trailing 1-year period

13.00%

10.14%

+2.86%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.43%

14.23%

+3.20%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.72%

16.07%

+2.65%

SIZE vs. VIG - Expense Ratio Comparison

SIZE has a 0.15% expense ratio, which is higher than VIG'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

SIZE vs. VIG - Dividend Comparison

SIZE's dividend yield for the trailing twelve months is around 1.39%, less than VIG's 1.47% yield.

PositionTTM20252024202320222021202020192018201720162015
SIZE
iShares MSCI USA Size Factor ETF		1.39%1.50%1.53%1.42%1.59%1.19%1.43%1.35%2.43%1.58%1.88%1.95%
VIG
Vanguard Dividend Appreciation ETF		1.47%1.62%1.73%1.88%1.96%1.55%1.63%1.71%2.08%1.88%2.14%2.34%

Frequently Asked Questions

SIZE and VIG have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SIZE has higher volatility (3.85%) compared to VIG (2.82%). In terms of maximum drawdown, SIZE dropped -39.15% vs VIG's -46.81%.

On 10-year performance, VIG leads with 13.40% vs 12.04% for SIZE. On fees, VIG is cheaper at 0.04% per year. On volatility, VIG has been the lower-risk option at 2.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, VIG has performed better with a 13.40% return vs 12.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VIG is cheaper with a 0.04% expense ratio, compared with 0.15% for SIZE.

VIG has the higher dividend yield at 1.47%, compared with 1.39% for SIZE.

SIZE is categorized as Mid Cap Blend Equities, while VIG is Dividend. SIZE tracks MSCI USA Low Size Index, while VIG tracks S&P U.S. Dividend Growers Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.15% for SIZE and 0.04% for VIG.

VIG currently has the higher Sharpe Ratio (2.01 vs 1.44), 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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