SLYV vs. USVM

Last updated Jun 4, 2026

SLYV (SPDR S&P 600 Small Cap Value ETF) and USVM (VictoryShares US Small Mid Cap Value Momentum ETF) are both exchange-traded funds - SLYV is a Small Cap Value Equities fund tracking the S&P SmallCap 600 Value Index, while USVM is a Momentum fund tracking the Nasdaq Victory US Small Mid Cap Value Momentum Index. Both are passively managed. Over the past 5 years, SLYV returned 5.66%/yr vs 9.74%/yr for USVM. Their correlation of 0.93 suggests significant overlap in exposure. SLYV charges 0.15%/yr vs 0.29%/yr for USVM.

Performance

SLYV vs. USVM - 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 VictoryShares US Small Mid Cap Value Momentum ETF (USVM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with SLYV having a 15.25% return and USVM slightly higher at 15.26%.

SLYV

• 1D: -1.18%
• 1M: 2.30%
• YTD: 15.25%
• 6M: 14.70%
• 1Y: 37.01%
• 3Y*: 14.08%
• 5Y*: 5.66%
• 10Y*: 10.18%

USVM

• 1D: -0.40%
• 1M: 2.60%
• YTD: 15.26%
• 6M: 15.00%
• 1Y: 30.42%
• 3Y*: 19.79%
• 5Y*: 9.74%
• 10Y*: —

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

SLYV vs. USVM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SLYV SPDR S&P 600 Small Cap Value ETF	15.25%	6.54%	7.28%	14.82%	-11.08%	30.57%	2.68%	24.26%	-12.77%	3.04%
USVM VictoryShares US Small Mid Cap Value Momentum ETF	15.26%	10.56%	16.59%	18.90%	-13.23%	24.44%	11.56%	21.65%	-9.39%	2.21%

Correlation

The correlation between SLYV and USVM is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Oct 27, 2017	0.93

The correlation between SLYV and USVM has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

SLYV vs. USVM - Sectors Allocation Comparison

Sectors	SLYV	USVM
Financial Services	19.8%	22.0%
Consumer Cyclical	15.9%	11.1%
Industrials	11.6%	12.1%
Technology	11.3%	11.6%
Real Estate	8.7%	11.9%
Energy	7.6%	4.4%
Healthcare	7.5%	11.0%
Basic Materials	7.1%	1.8%
Communication Services	4.4%	2.8%
Consumer Defensive	3.8%	5.0%
Utilities	2.2%	6.4%

Return for Risk

SLYV vs. USVM — Risk / Return Rank

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

SLYV

SLYV Risk / Return Rank: 65
SLYV Sharpe Ratio Rank: 59
SLYV Sortino Ratio Rank: 62
SLYV Omega Ratio Rank: 56
SLYV Calmar Ratio Rank: 77
SLYV Martin Ratio Rank: 70

USVM

USVM Risk / Return Rank: 65
USVM Sharpe Ratio Rank: 60
USVM Sortino Ratio Rank: 63
USVM Omega Ratio Rank: 57
USVM Calmar Ratio Rank: 73
USVM Martin Ratio Rank: 73

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. USVM - 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 VictoryShares US Small Mid Cap Value Momentum ETF (USVM). 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.

	SLYV	USVM	Difference
Sharpe ratio: Return per unit of total volatility	2.05	2.05	0.00
Sortino ratio: Return per unit of downside risk	2.95	2.98	-0.03
Omega ratio: Gain probability vs. loss probability	1.35	1.36	-0.01
Calmar ratio: Return relative to maximum drawdown	3.97	3.66	+0.32
Martin ratio: Return relative to average drawdown	13.09	13.76	-0.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SLYV vs. USVM - Sharpe Ratio Comparison

The current SLYV Sharpe Ratio is 2.05, which is comparable to the USVM Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of SLYV and USVM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SLYV	USVM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.05	2.05	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	0.50	-0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.49	-0.02

Drawdowns

SLYV vs. USVM - Drawdown Comparison

The maximum SLYV drawdown since its inception was -61.15%, which is greater than USVM's maximum drawdown of -42.38%. Use the drawdown chart below to compare losses from any high point for SLYV and USVM.

Drawdown Indicators

	SLYV	USVM	Difference
Max Drawdown Largest peak-to-trough decline	-61.15%	-42.38%	-18.77%
Max Drawdown (1Y) Largest decline over 1 year	-9.36%	-8.36%	-1.00%
Max Drawdown (3Y) Largest decline over 3 years	-28.68%	-24.34%	-4.34%
Max Drawdown (5Y) Largest decline over 5 years	-28.68%	-25.27%	-3.41%
Max Drawdown (10Y) Largest decline over 10 years	-47.73%	—	—
Current Drawdown Current decline from peak	-1.18%	-0.57%	-0.61%
Average Drawdown Average peak-to-trough decline	-8.94%	-7.90%	-1.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.83%	2.22%	+0.61%

Volatility

SLYV vs. USVM - Volatility Comparison

SPDR S&P 600 Small Cap Value ETF (SLYV) and VictoryShares US Small Mid Cap Value Momentum ETF (USVM) have volatilities of 4.42% and 4.50%, 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	USVM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.42%	4.50%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	11.46%	10.73%	+0.73%
Volatility (1Y) Calculated over the trailing 1-year period	18.26%	14.93%	+3.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.96%	19.65%	+2.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.96%	22.01%	+1.95%

SLYV vs. USVM - Expense Ratio Comparison

SLYV has a 0.15% expense ratio, which is lower than USVM's 0.29% expense ratio.

Dividends

SLYV vs. USVM - Dividend Comparison

SLYV's dividend yield for the trailing twelve months is around 1.82%, more than USVM's 1.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SLYV SPDR S&P 600 Small Cap Value ETF	1.82%	2.02%	2.30%	2.11%	1.47%	1.94%	1.40%	1.67%	2.14%	5.53%	2.18%	6.55%
USVM VictoryShares US Small Mid Cap Value Momentum ETF	1.76%	1.84%	1.75%	1.63%	1.43%	0.70%	1.21%	1.77%	1.43%	0.65%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SLYV and USVM in my portfolio?

With a correlation of 0.94, SLYV and USVM 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.

Which is riskier, SLYV or USVM?

USVM has higher volatility (4.50%) compared to SLYV (4.42%). In terms of maximum drawdown, SLYV dropped -61.15% vs USVM's -42.38%.

Which ETF is better, SLYV or USVM?

On 5-year performance, USVM leads with 9.74% vs 5.66% for SLYV. On fees, SLYV is cheaper at 0.15% 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 USVM?

Over the 5-year period, USVM has performed better with a 9.74% return vs 5.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SLYV or USVM?

SLYV is cheaper with a 0.15% expense ratio, compared with 0.29% for USVM.

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

SLYV has the higher dividend yield at 1.82%, compared with 1.76% for USVM.

What is the main difference between SLYV and USVM?

SLYV is categorized as Small Cap Value Equities, while USVM is Momentum. SLYV tracks S&P SmallCap 600 Value Index, while USVM tracks Nasdaq Victory US Small Mid Cap Value Momentum Index. They also come from different issuers: State Street and Victory Capital. Their fees differ too: 0.15% for SLYV and 0.29% for USVM.

Which has better risk-adjusted returns?

USVM currently has the higher Sharpe Ratio (2.05 vs 2.05), 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.