SLYV vs. SPYM

Last updated Jun 24, 2026

SLYV (SPDR S&P 600 Small Cap Value ETF) and SPYM (State Street SPDR Portfolio S&P 500 ETF) are both exchange-traded funds - SLYV is a Small Cap Value Equities fund tracking the S&P SmallCap 600 Value Index, while SPYM is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, SLYV returned 10.61%/yr vs 15.61%/yr for SPYM. A 0.72 correlation means they provide meaningful diversification when combined. SLYV charges 0.15%/yr vs 0.02%/yr for SPYM.

Performance

SLYV vs. SPYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P 600 Small Cap Value ETF (SLYV) and State Street SPDR Portfolio S&P 500 ETF (SPYM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SLYV achieves a 17.46% return, which is significantly higher than SPYM's 8.21% return. Over the past 10 years, SLYV has underperformed SPYM with an annualized return of 10.61%, while SPYM has yielded a comparatively higher 15.61% annualized return.

SLYV

• 1D: -0.21%
• 1M: 2.91%
• YTD: 17.46%
• 6M: 15.89%
• 1Y: 37.37%
• 3Y*: 15.39%
• 5Y*: 6.20%
• 10Y*: 10.61%

SPYM

• 1D: -1.44%
• 1M: -1.32%
• YTD: 8.21%
• 6M: 7.24%
• 1Y: 23.73%
• 3Y*: 20.77%
• 5Y*: 13.13%
• 10Y*: 15.61%

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

SLYV vs. SPYM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SLYV SPDR S&P 600 Small Cap Value ETF	17.46%	6.54%	7.28%	14.82%	-11.08%	30.57%	2.68%	24.26%	-12.77%	11.74%
SPYM State Street SPDR Portfolio S&P 500 ETF	8.21%	17.79%	25.00%	26.24%	-18.09%	28.78%	18.49%	31.99%	-4.78%	21.30%

Correlation

The correlation between SLYV and SPYM is 0.67, 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	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Nov 15, 2005	0.72

The correlation between SLYV and SPYM has been stable across timeframes, ranging from 0.67 to 0.74 - a consistent structural relationship.

SLYV vs. SPYM - Sectors Allocation Comparison

Sectors	SLYV	SPYM
Financial Services	19.5%	11.9%
Consumer Cyclical	15.4%	9.4%
Technology	13.4%	38.0%
Industrials	11.6%	8.0%
Real Estate	8.6%	1.8%
Healthcare	7.3%	8.5%
Energy	7.0%	3.1%
Basic Materials	6.9%	1.8%
Communication Services	4.4%	10.1%
Consumer Defensive	3.8%	4.6%
Utilities	2.1%	2.6%

Return for Risk

SLYV vs. SPYM — Risk / Return Rank

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

SLYV

SLYV Risk / Return Rank: 70
SLYV Sharpe Ratio Rank: 66
SLYV Sortino Ratio Rank: 68
SLYV Omega Ratio Rank: 60
SLYV Calmar Ratio Rank: 80
SLYV Martin Ratio Rank: 74

SPYM

SPYM Risk / Return Rank: 59
SPYM Sharpe Ratio Rank: 59
SPYM Sortino Ratio Rank: 56
SPYM Omega Ratio Rank: 58
SPYM Calmar Ratio Rank: 56
SPYM Martin Ratio Rank: 67

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.

SLYV vs. SPYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 600 Small Cap Value ETF (SLYV) and State Street SPDR Portfolio S&P 500 ETF (SPYM). 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.

	SLYV	SPYM	Difference
Sharpe ratio: Return per unit of total volatility	2.06	1.92	+0.14
Sortino ratio: Return per unit of downside risk	2.97	2.61	+0.36
Omega ratio: Gain probability vs. loss probability	1.35	1.35	0.00
Calmar ratio: Return relative to maximum drawdown	4.01	2.68	+1.33
Martin ratio: Return relative to average drawdown	13.30	11.98	+1.32

SLYV vs. SPYM - Sharpe Ratio Comparison

The current SLYV Sharpe Ratio is 2.06, which is comparable to the SPYM Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of SLYV and SPYM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SLYV vs. SPYM - Drawdown Comparison

The maximum SLYV drawdown since its inception was -61.15%, which is greater than SPYM's maximum drawdown of -54.46%. Use the drawdown chart below to compare losses from any high point for SLYV and SPYM.

Drawdown Indicators

	SLYV	SPYM	Difference
Max Drawdown Largest peak-to-trough decline	-61.15%	-54.46%	-6.69%
Max Drawdown (1Y) Largest decline over 1 year	-9.36%	-8.90%	-0.46%
Max Drawdown (3Y) Largest decline over 3 years	-28.68%	-18.72%	-9.96%
Max Drawdown (5Y) Largest decline over 5 years	-28.68%	-24.48%	-4.20%
Max Drawdown (10Y) Largest decline over 10 years	-47.73%	-33.87%	-13.86%
Current Drawdown Current decline from peak	-1.68%	-3.14%	+1.46%
Average Drawdown Average peak-to-trough decline	-8.93%	-7.14%	-1.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.82%	1.99%	+0.83%

Volatility

SLYV vs. SPYM - Volatility Comparison

SPDR S&P 600 Small Cap Value ETF (SLYV) and State Street SPDR Portfolio S&P 500 ETF (SPYM) have volatilities of 4.76% and 4.83%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SLYV	SPYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.76%	4.83%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	11.74%	9.83%	+1.91%
Volatility (1Y) Calculated over the trailing 1-year period	18.28%	12.46%	+5.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.91%	16.90%	+5.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.94%	18.03%	+5.91%

SLYV vs. SPYM - Expense Ratio Comparison

SLYV has a 0.15% expense ratio, which is higher than SPYM's 0.02% 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

SLYV vs. SPYM - Dividend Comparison

SLYV's dividend yield for the trailing twelve months is around 1.87%, more than SPYM's 1.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SLYV SPDR S&P 600 Small Cap Value ETF	1.87%	2.02%	2.30%	2.11%	1.47%	1.94%	1.40%	1.67%	2.14%	5.53%	2.18%	6.55%
SPYM State Street SPDR Portfolio S&P 500 ETF	1.30%	1.13%	1.28%	1.44%	1.69%	1.25%	1.54%	1.79%	2.23%	1.75%	1.97%	1.98%

Frequently Asked Questions

Can I hold both SLYV and SPYM in my portfolio?

SLYV and SPYM have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SLYV or SPYM?

SPYM has higher volatility (4.83%) compared to SLYV (4.76%). In terms of maximum drawdown, SLYV dropped -61.15% vs SPYM's -54.46%.

Which ETF is better, SLYV or SPYM?

On 10-year performance, SPYM leads with 15.61% vs 10.61% for SLYV. On fees, SPYM is cheaper at 0.02% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SLYV or SPYM?

Over the 10-year period, SPYM has performed better with a 15.61% return vs 10.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SLYV or SPYM?

SPYM is cheaper with a 0.02% expense ratio, compared with 0.15% for SLYV.

Which ETF pays a higher dividend yield, SLYV or SPYM?

SLYV has the higher dividend yield at 1.87%, compared with 1.30% for SPYM.

What is the main difference between SLYV and SPYM?

SLYV is categorized as Small Cap Value Equities, while SPYM is S&P 500. SLYV tracks S&P SmallCap 600 Value Index, while SPYM tracks S&P 500 Index. Their fees differ too: 0.15% for SLYV and 0.02% for SPYM.

Which has better risk-adjusted returns?

SLYV currently has the higher Sharpe Ratio (2.06 vs 1.92), 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.