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SIZE vs. VXF
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SIZE vs. VXF

Last updated Jun 4, 2026

SIZE (iShares MSCI USA Size Factor ETF) and VXF (Vanguard Extended Market ETF) are both Mid Cap Blend Equities funds - SIZE tracks the MSCI USA Low Size Index while VXF tracks the S&P Completion Index. Both are passively managed. Over the past 10 years, SIZE returned 11.76%/yr vs 12.08%/yr for VXF. Their correlation of 0.86 suggests significant overlap in exposure. SIZE charges 0.15%/yr vs 0.05%/yr for VXF.

Performance

SIZE vs. VXF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Size Factor ETF (SIZE) and Vanguard Extended Market ETF (VXF). 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 9.07% return, which is significantly lower than VXF's 13.78% return. Both investments have delivered pretty close results over the past 10 years, with SIZE having a 11.76% annualized return and VXF not far ahead at 12.08%.

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%

VXF

1D
-1.02%
1M
4.75%
YTD
13.78%
6M
12.61%
1Y
28.88%
3Y*
19.75%
5Y*
6.53%
10Y*
12.08%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SIZE vs. VXF - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SIZE
iShares MSCI USA Size Factor ETF		9.07%10.51%14.37%17.78%-15.86%25.05%16.26%28.97%-6.59%18.76%
VXF
Vanguard Extended Market ETF		13.78%11.40%16.89%25.51%-26.52%12.31%32.45%27.96%-9.34%18.06%

Correlation

The correlation between SIZE and VXF 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

0.92

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

0.93

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

0.91

Correlation (All Time)
Calculated using the full available price history since Apr 19, 2013

0.86

The correlation between SIZE and VXF has been stable across timeframes, ranging from 0.86 to 0.93 - a consistent structural relationship.

SIZE vs. VXF - Sectors Allocation Comparison

Sectors
SIZE
VXF

Technology

19.9%
19.8%

Industrials

16.1%
19.3%

Financial Services

13.5%
14.6%

Consumer Cyclical

9.8%
9.7%

Healthcare

9.6%
13.3%

Real Estate

5.7%
6.0%

Consumer Defensive

5.7%
2.7%

Utilities

5.5%
2.0%

Energy

5.2%
5.1%

Basic Materials

4.8%
4.2%

Communication Services

4.1%
3.3%

Technology

SIZE
19.9%
VXF
19.8%

Industrials

SIZE
16.1%
VXF
19.3%

Financial Services

SIZE
13.5%
VXF
14.6%

Consumer Cyclical

SIZE
9.8%
VXF
9.7%

Healthcare

SIZE
9.6%
VXF
13.3%

Real Estate

SIZE
5.7%
VXF
6.0%

Consumer Defensive

SIZE
5.7%
VXF
2.7%

Utilities

SIZE
5.5%
VXF
2.0%

Energy

SIZE
5.2%
VXF
5.1%

Basic Materials

SIZE
4.8%
VXF
4.2%

Communication Services

SIZE
4.1%
VXF
3.3%

Compare stocks, funds, or ETFs

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

iShares MSCI USA Size Factor ETF

Vanguard Extended Market ETF

Often compared with SIZE:
SIZE vs. XLGSIZE vs. SPYSIZE vs. QUALSIZE vs. QDVA.DESIZE vs. VIGSIZE vs. VOOSIZE vs. QGRO
Often compared with VXF:
VXF vs. VOOVXF vs. VTIVXF vs. VBVXF vs. VOVXF vs. FZIPXVXF vs. VOTVXF vs. IJR

Return for Risk

SIZE vs. VXF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SIZE
SIZE Risk / Return Rank: 4444
Overall Rank
SIZE Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
SIZE Sortino Ratio Rank: 4242
Sortino Ratio Rank
SIZE Omega Ratio Rank: 3838
Omega Ratio Rank
SIZE Calmar Ratio Rank: 4646
Calmar Ratio Rank
SIZE Martin Ratio Rank: 5252
Martin Ratio Rank
VXF
VXF Risk / Return Rank: 5050
Overall Rank
VXF Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
VXF Sortino Ratio Rank: 4747
Sortino Ratio Rank
VXF Omega Ratio Rank: 4444
Omega Ratio Rank
VXF Calmar Ratio Rank: 5656
Calmar Ratio Rank
VXF Martin Ratio Rank: 5757
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. VXF - Risk-Adjusted Trends Comparison

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

SIZEVXFDifference
Sharpe ratioReturn per unit of total volatility
1.43
1.69

-0.26

Sortino ratioReturn per unit of downside risk
2.12
2.38

-0.25

Omega ratioGain probability vs. loss probability

1.25

1.29

-0.04

Calmar ratioReturn relative to maximum drawdown

2.28

2.84

-0.56

Martin ratioReturn relative to average drawdown

8.88

10.07

-1.20

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. VXF - Sharpe Ratio Comparison

The current SIZE Sharpe Ratio is 1.43, which is comparable to the VXF Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of SIZE and VXF, 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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Sharpe Ratios by Period

SIZEVXFDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.43

1.69

-0.26

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.47

0.29

+0.17

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.63

0.54

+0.09

Sharpe Ratio (All Time)

Calculated using the full available price history

0.68

0.46

+0.23

Drawdowns

SIZE vs. VXF - Drawdown Comparison

The maximum SIZE drawdown since its inception was -39.15%, smaller than the maximum VXF drawdown of -58.03%. Use the drawdown chart below to compare losses from any high point for SIZE and VXF.

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Drawdown Indicators

SIZEVXFDifference

Max Drawdown

Largest peak-to-trough decline

-39.15%

-58.03%

+18.88%

Max Drawdown (1Y)

Largest decline over 1 year

-7.97%

-10.21%

+2.24%

Max Drawdown (3Y)

Largest decline over 3 years

-18.71%

-26.92%

+8.21%

Max Drawdown (5Y)

Largest decline over 5 years

-24.03%

-36.39%

+12.36%

Max Drawdown (10Y)

Largest decline over 10 years

-39.15%

-41.72%

+2.57%

Current Drawdown

Current decline from peak

-0.68%

-1.02%

+0.34%

Average Drawdown

Average peak-to-trough decline

-4.18%

-9.55%

+5.37%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.04%

2.87%

-0.83%

Volatility

SIZE vs. VXF - Volatility Comparison

The current volatility for iShares MSCI USA Size Factor ETF (SIZE) is 3.17%, while Vanguard Extended Market ETF (VXF) has a volatility of 4.87%. This indicates that SIZE experiences smaller price fluctuations and is considered to be less risky than VXF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SIZEVXFDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.17%

4.87%

-1.70%

Volatility (6M)

Calculated over the trailing 6-month period

9.54%

12.44%

-2.90%

Volatility (1Y)

Calculated over the trailing 1-year period

12.73%

17.22%

-4.49%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.39%

22.33%

-4.94%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.69%

22.29%

-3.60%

SIZE vs. VXF - Expense Ratio Comparison

SIZE has a 0.15% expense ratio, which is higher than VXF's 0.05% 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. VXF - Dividend Comparison

SIZE's dividend yield for the trailing twelve months is around 1.42%, more than VXF's 1.02% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
VXF
Vanguard Extended Market ETF		1.02%1.14%1.09%1.27%1.15%1.13%1.07%1.30%1.66%1.25%1.43%1.35%

Frequently Asked Questions

SIZE and VXF 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.

VXF has higher volatility (4.87%) compared to SIZE (3.17%). In terms of maximum drawdown, SIZE dropped -39.15% vs VXF's -58.03%.

On 10-year performance, VXF leads with 12.08% vs 11.76% for SIZE. On fees, VXF is cheaper at 0.05% per year. On volatility, SIZE has been the lower-risk option at 3.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, VXF has performed better with a 12.08% return vs 11.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VXF is cheaper with a 0.05% expense ratio, compared with 0.15% for SIZE.

SIZE has the higher dividend yield at 1.42%, compared with 1.02% for VXF.

SIZE tracks MSCI USA Low Size Index, while VXF tracks S&P Completion Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.15% for SIZE and 0.05% for VXF.

VXF currently has the higher Sharpe Ratio (1.69 vs 1.43), 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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