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SLYG vs. SMMV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SLYG vs. SMMV

Last updated Jun 25, 2026

SLYG (SPDR S&P 600 Small Cap Growth ETF) and SMMV (iShares MSCI USA Small-Cap Min Vol Factor ETF) are both Small Cap Growth Equities funds - SLYG tracks the S&P SmallCap 600 Growth Index while SMMV tracks the MSCI USA Small Cap Minimum Volatility (USD) Index. Both are passively managed. Over the past 5 years, SLYG returned 6.48%/yr vs 5.18%/yr for SMMV. Their correlation of 0.85 suggests significant overlap in exposure. SLYG charges 0.15%/yr vs 0.20%/yr for SMMV.

Performance

SLYG vs. SMMV - 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 iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV). 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 SMMV's 4.84% 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%

SMMV

1D
0.87%
1M
1.15%
YTD
4.84%
6M
3.50%
1Y
8.77%
3Y*
12.21%
5Y*
5.18%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

SLYG vs. SMMV - 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%14.62%
SMMV
iShares MSCI USA Small-Cap Min Vol Factor ETF		4.84%6.42%18.29%5.63%-10.00%16.64%-2.88%24.21%1.15%14.31%

Correlation

The correlation between SLYG and SMMV is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.76

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

0.85

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

0.88

Correlation (All Time)
Calculated using the full available price history since Sep 9, 2016

0.85

The correlation between SLYG and SMMV shifts across timeframes, from 0.76 (1 year) to 0.88 (5 years), reflecting how their relationship changes across market environments.

SLYG vs. SMMV - Sectors Allocation Comparison

Sectors
SLYG
SMMV

Technology

19.9%
14.5%

Industrials

18.9%
13.5%

Healthcare

15.1%
17.6%

Financial Services

13.6%
8.9%

Consumer Cyclical

11.0%
5.1%

Real Estate

6.3%
12.6%

Energy

4.6%
5.3%

Consumer Defensive

3.0%
8.0%

Communication Services

2.9%
5.3%

Basic Materials

2.8%
1.6%

Utilities

1.8%
7.5%

Technology

SLYG
19.9%
SMMV
14.5%

Industrials

SLYG
18.9%
SMMV
13.5%

Healthcare

SLYG
15.1%
SMMV
17.6%

Financial Services

SLYG
13.6%
SMMV
8.9%

Consumer Cyclical

SLYG
11.0%
SMMV
5.1%

Real Estate

SLYG
6.3%
SMMV
12.6%

Energy

SLYG
4.6%
SMMV
5.3%

Consumer Defensive

SLYG
3.0%
SMMV
8.0%

Communication Services

SLYG
2.9%
SMMV
5.3%

Basic Materials

SLYG
2.8%
SMMV
1.6%

Utilities

SLYG
1.8%
SMMV
7.5%

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

iShares MSCI USA Small-Cap Min Vol Factor ETF

Often compared with SLYG:
SLYG vs. SLYVSLYG vs. VBKSLYG vs. IWOSLYG vs. IJTSLYG vs. VIOGSLYG vs. IJRSLYG vs. XSMO
Often compared with SMMV:
SMMV vs. SMLVSMMV vs. SMLFSMMV vs. USMVSMMV vs. XMU.TOSMMV vs. VBSMMV vs. IWMSMMV vs. IVV

Return for Risk

SLYG vs. SMMV — 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
SMMV
SMMV Risk / Return Rank: 2727
Overall Rank
SMMV Sharpe Ratio Rank: 2727
Sharpe Ratio Rank
SMMV Sortino Ratio Rank: 2626
Sortino Ratio Rank
SMMV Omega Ratio Rank: 2525
Omega Ratio Rank
SMMV Calmar Ratio Rank: 2828
Calmar Ratio Rank
SMMV Martin Ratio Rank: 2929
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. SMMV - 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 iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV). 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.

SLYGSMMVDifference
Sharpe ratioReturn per unit of total volatility
1.80
0.90

+0.90

Sortino ratioReturn per unit of downside risk
2.64
1.35

+1.29

Omega ratioGain probability vs. loss probability

1.31

1.16

+0.15

Calmar ratioReturn relative to maximum drawdown

3.54

1.25

+2.29

Martin ratioReturn relative to average drawdown

12.46

3.78

+8.69

SLYG vs. SMMV - Sharpe Ratio Comparison

The current SLYG Sharpe Ratio is 1.80, which is higher than the SMMV Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of SLYG and SMMV, 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. SMMV - Drawdown Comparison

The maximum SLYG drawdown since its inception was -62.92%, which is greater than SMMV's maximum drawdown of -38.77%. Use the drawdown chart below to compare losses from any high point for SLYG and SMMV.

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Drawdown Indicators

SLYGSMMVDifference

Max Drawdown

Largest peak-to-trough decline

-62.92%

-38.77%

-24.15%

Max Drawdown (1Y)

Largest decline over 1 year

-9.10%

-7.02%

-2.08%

Max Drawdown (3Y)

Largest decline over 3 years

-27.39%

-13.68%

-13.71%

Max Drawdown (5Y)

Largest decline over 5 years

-29.18%

-18.00%

-11.18%

Max Drawdown (10Y)

Largest decline over 10 years

-41.86%

—

—

Current Drawdown

Current decline from peak

0.00%

-1.82%

+1.82%

Average Drawdown

Average peak-to-trough decline

-14.88%

-5.08%

-9.80%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.58%

2.33%

+0.25%

Volatility

SLYG vs. SMMV - Volatility Comparison

SPDR S&P 600 Small Cap Growth ETF (SLYG) has a higher volatility of 5.34% compared to iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV) at 2.60%. This indicates that SLYG's price experiences larger fluctuations and is considered to be riskier than SMMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SLYGSMMVDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.34%

2.60%

+2.74%

Volatility (6M)

Calculated over the trailing 6-month period

13.02%

6.56%

+6.46%

Volatility (1Y)

Calculated over the trailing 1-year period

17.93%

9.83%

+8.10%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.56%

13.48%

+8.08%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.74%

15.66%

+7.08%

SLYG vs. SMMV - Expense Ratio Comparison

SLYG has a 0.15% expense ratio, which is lower than SMMV's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SLYG vs. SMMV - Dividend Comparison

SLYG's dividend yield for the trailing twelve months is around 0.66%, less than SMMV's 1.73% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
SMMV
iShares MSCI USA Small-Cap Min Vol Factor ETF		1.73%1.77%1.76%2.30%1.67%1.08%1.39%1.64%1.72%1.63%0.79%0.00%

Frequently Asked Questions

SLYG and SMMV have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SLYG has higher volatility (5.34%) compared to SMMV (2.60%). In terms of maximum drawdown, SLYG dropped -62.92% vs SMMV's -38.77%.

On 5-year performance, SLYG leads with 6.48% vs 5.18% for SMMV. On fees, SLYG is cheaper at 0.15% per year. On volatility, SMMV has been the lower-risk option at 2.60%. 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 5.18%. 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 0.20% for SMMV.

SMMV has the higher dividend yield at 1.73%, compared with 0.66% for SLYG.

SLYG tracks S&P SmallCap 600 Growth Index, while SMMV tracks MSCI USA Small Cap Minimum Volatility (USD) Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.15% for SLYG and 0.20% for SMMV.

SLYG currently has the higher Sharpe Ratio (1.80 vs 0.90), 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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