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SLYG vs. FLQS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SLYG vs. FLQS

Last updated Jun 25, 2026

SLYG (SPDR S&P 600 Small Cap Growth ETF) and FLQS (Franklin LibertyQ U.S. Small Cap Equity ETF) are both Small Cap Growth Equities funds - SLYG tracks the S&P SmallCap 600 Growth Index while FLQS tracks the LibertyQ U.S. Small Cap Equity Index. Both are passively managed. Over the past 5 years, SLYG returned 6.48%/yr vs 6.07%/yr for FLQS. Their correlation of 0.88 suggests significant overlap in exposure. SLYG charges 0.15%/yr vs 0.35%/yr for FLQS.

Performance

SLYG vs. FLQS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P 600 Small Cap Growth ETF (SLYG) and Franklin LibertyQ U.S. Small Cap Equity ETF (FLQS). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SLYG achieves a 22.87% return, which is significantly higher than FLQS's 11.78% return.

SLYG

1D
1.27%
1M
6.87%
YTD
22.87%
6M
18.91%
1Y
32.06%
3Y*
17.21%
5Y*
6.48%
10Y*
11.84%

FLQS

1D
1.26%
1M
5.59%
YTD
11.78%
6M
9.69%
1Y
18.85%
3Y*
13.58%
5Y*
6.07%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

SLYG vs. FLQS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SLYG
SPDR S&P 600 Small Cap Growth ETF		22.87%5.20%9.38%17.27%-21.26%22.42%19.48%20.97%-4.20%9.44%
FLQS
Franklin LibertyQ U.S. Small Cap Equity ETF		11.78%5.04%8.34%21.28%-16.88%26.58%10.51%18.34%-5.86%7.41%

Correlation

The correlation between SLYG and FLQS is 0.93, 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

0.93

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

0.96

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

0.97

Correlation (All Time)
Calculated using the full available price history since Apr 28, 2017

0.88

The correlation between SLYG and FLQS has been stable across timeframes, ranging from 0.88 to 0.97 - a consistent structural relationship.

SLYG vs. FLQS - Sectors Allocation Comparison

Sectors
SLYG
FLQS

Technology

19.9%
18.2%

Industrials

18.9%
16.0%

Healthcare

15.1%
9.9%

Financial Services

13.6%
12.7%

Consumer Cyclical

11.0%
15.0%

Real Estate

6.3%
6.7%

Energy

4.6%
4.2%

Consumer Defensive

3.0%
7.8%

Communication Services

2.9%
1.8%

Basic Materials

2.8%
2.1%

Utilities

1.8%
5.7%

Technology

SLYG
19.9%
FLQS
18.2%

Industrials

SLYG
18.9%
FLQS
16.0%

Healthcare

SLYG
15.1%
FLQS
9.9%

Financial Services

SLYG
13.6%
FLQS
12.7%

Consumer Cyclical

SLYG
11.0%
FLQS
15.0%

Real Estate

SLYG
6.3%
FLQS
6.7%

Energy

SLYG
4.6%
FLQS
4.2%

Consumer Defensive

SLYG
3.0%
FLQS
7.8%

Communication Services

SLYG
2.9%
FLQS
1.8%

Basic Materials

SLYG
2.8%
FLQS
2.1%

Utilities

SLYG
1.8%
FLQS
5.7%

Compare stocks, funds, or ETFs

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

SPDR S&P 600 Small Cap Growth ETF

Franklin LibertyQ U.S. Small Cap Equity ETF

Often compared with SLYG:
SLYG vs. SLYVSLYG vs. VBKSLYG vs. IWOSLYG vs. IJTSLYG vs. VIOGSLYG vs. IJRSLYG vs. XSMO
Often compared with FLQS:
FLQS vs. CSBFLQS vs. AVUVFLQS vs. SPYFLQS vs. SQLVFLQS vs. VBFLQS vs. FSGSFLQS vs. SCHA

Return for Risk

SLYG vs. FLQS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SLYG
SLYG Risk / Return Rank: 6666
Overall Rank
SLYG Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
SLYG Sortino Ratio Rank: 6464
Sortino Ratio Rank
SLYG Omega Ratio Rank: 5555
Omega Ratio Rank
SLYG Calmar Ratio Rank: 7777
Calmar Ratio Rank
SLYG Martin Ratio Rank: 7474
Martin Ratio Rank
FLQS
FLQS Risk / Return Rank: 4141
Overall Rank
FLQS Sharpe Ratio Rank: 3939
Sharpe Ratio Rank
FLQS Sortino Ratio Rank: 4141
Sortino Ratio Rank
FLQS Omega Ratio Rank: 3737
Omega Ratio Rank
FLQS Calmar Ratio Rank: 4848
Calmar Ratio Rank
FLQS Martin Ratio Rank: 4343
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.

SLYG vs. FLQS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 600 Small Cap Growth ETF (SLYG) and Franklin LibertyQ U.S. Small Cap Equity ETF (FLQS). 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.

SLYGFLQSDifference
Sharpe ratioReturn per unit of total volatility
1.80
1.24

+0.56

Sortino ratioReturn per unit of downside risk
2.64
1.90

+0.74

Omega ratioGain probability vs. loss probability

1.31

1.22

+0.09

Calmar ratioReturn relative to maximum drawdown

3.54

2.10

+1.44

Martin ratioReturn relative to average drawdown

12.46

6.22

+6.24

SLYG vs. FLQS - Sharpe Ratio Comparison

The current SLYG Sharpe Ratio is 1.80, which is higher than the FLQS Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of SLYG and FLQS, 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

SLYG vs. FLQS - Drawdown Comparison

The maximum SLYG drawdown since its inception was -62.92%, which is greater than FLQS's maximum drawdown of -42.16%. Use the drawdown chart below to compare losses from any high point for SLYG and FLQS.

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Drawdown Indicators

SLYGFLQSDifference

Max Drawdown

Largest peak-to-trough decline

-62.92%

-42.16%

-20.76%

Max Drawdown (1Y)

Largest decline over 1 year

-9.10%

-9.00%

-0.10%

Max Drawdown (3Y)

Largest decline over 3 years

-27.39%

-23.12%

-4.27%

Max Drawdown (5Y)

Largest decline over 5 years

-29.18%

-28.05%

-1.13%

Max Drawdown (10Y)

Largest decline over 10 years

-41.86%

—

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-14.88%

-7.97%

-6.91%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.58%

3.04%

-0.46%

Volatility

SLYG vs. FLQS - Volatility Comparison

SPDR S&P 600 Small Cap Growth ETF (SLYG) has a higher volatility of 5.34% compared to Franklin LibertyQ U.S. Small Cap Equity ETF (FLQS) at 3.81%. This indicates that SLYG's price experiences larger fluctuations and is considered to be riskier than FLQS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SLYGFLQSDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.34%

3.81%

+1.53%

Volatility (6M)

Calculated over the trailing 6-month period

13.02%

10.52%

+2.50%

Volatility (1Y)

Calculated over the trailing 1-year period

17.93%

15.31%

+2.62%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.56%

19.23%

+2.33%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.74%

21.64%

+1.10%

SLYG vs. FLQS - Expense Ratio Comparison

SLYG has a 0.15% expense ratio, which is lower than FLQS's 0.35% expense ratio.

Dividends

SLYG vs. FLQS - Dividend Comparison

SLYG's dividend yield for the trailing twelve months is around 0.66%, less than FLQS's 1.29% yield.

PositionTTM20252024202320222021202020192018201720162015
FLQS
Franklin LibertyQ U.S. Small Cap Equity ETF		1.29%1.16%1.29%1.75%1.40%0.95%1.20%1.41%1.27%1.02%0.00%0.00%
SLYG
SPDR S&P 600 Small Cap Growth ETF		0.66%0.86%1.22%1.18%1.18%0.68%0.71%1.08%1.06%4.74%1.13%5.75%

Frequently Asked Questions

With a correlation of 0.93, SLYG and FLQS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

SLYG has higher volatility (5.34%) compared to FLQS (3.81%). In terms of maximum drawdown, SLYG dropped -62.92% vs FLQS's -42.16%.

On 5-year performance, SLYG leads with 6.48% vs 6.07% for FLQS. On fees, SLYG is cheaper at 0.15% per year. On volatility, FLQS has been the lower-risk option at 3.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, SLYG has performed better with a 6.48% return vs 6.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SLYG is cheaper with a 0.15% expense ratio, compared with 0.35% for FLQS.

FLQS has the higher dividend yield at 1.29%, compared with 0.66% for SLYG.

SLYG tracks S&P SmallCap 600 Growth Index, while FLQS tracks LibertyQ U.S. Small Cap Equity Index. They also come from different issuers: State Street and Franklin Templeton. Their fees differ too: 0.15% for SLYG and 0.35% for FLQS.

SLYG currently has the higher Sharpe Ratio (1.80 vs 1.24), 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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