SLYV vs. VIOO

Last updated Jul 22, 2026

SLYV (SPDR S&P 600 Small Cap Value ETF) and VIOO (Vanguard S&P Small-Cap 600 ETF) are both exchange-traded funds - SLYV is a Small Cap Value Equities fund tracking the S&P SmallCap 600 Value Index, while VIOO is a Small Cap Blend Equities fund tracking the S&P SmallCap 600 Index. Both are passively managed. Over the past 10 years, SLYV returned 10.21%/yr vs 10.83%/yr for VIOO. With a 0.95 correlation, they move nearly in lockstep. SLYV charges 0.15%/yr vs 0.07%/yr for VIOO.

Performance

SLYV vs. VIOO - 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 Vanguard S&P Small-Cap 600 ETF (VIOO). 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 21.58% return and VIOO slightly higher at 22.49%. Over the past 10 years, SLYV has underperformed VIOO with an annualized return of 10.21%, while VIOO has yielded a comparatively higher 10.83% annualized return.

SLYV

• 1D: 0.96%
• 1M: 3.09%
• 6M: 15.21%
• YTD: 21.58%
• 1Y: 36.29%
• 3Y*: 13.57%
• 5Y*: 8.65%
• 10Y*: 10.21%
• ALL TIME*: 10.79%

VIOO

• 1D: 1.04%
• 1M: 2.36%
• 6M: 16.21%
• YTD: 22.49%
• 1Y: 33.09%
• 3Y*: 14.26%
• 5Y*: 8.11%
• 10Y*: 10.83%
• ALL TIME*: 12.54%

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

SLYV vs. VIOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SLYV SPDR S&P 600 Small Cap Value ETF	21.58%	6.54%	7.28%	14.82%	-11.08%	30.57%	2.68%	24.26%	-12.77%	11.74%
VIOO Vanguard S&P Small-Cap 600 ETF	22.49%	6.04%	8.48%	16.16%	-16.26%	26.79%	11.47%	22.68%	-8.65%	13.16%

Correlation

The correlation between SLYV and VIOO is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010	0.95

The correlation between SLYV and VIOO has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.

SLYV vs. VIOO - Sectors Allocation Comparison

Sectors	SLYV	VIOO
Financial Services	21.2%	17.1%
Consumer Cyclical	14.3%	13.2%
Industrials	12.4%	15.6%
Technology	12.2%	15.6%
Real Estate	8.1%	7.6%
Healthcare	7.8%	12.2%
Energy	7.5%	4.9%
Basic Materials	5.8%	4.7%
Consumer Defensive	5.0%	4.2%
Communication Services	3.8%	3.2%
Utilities	1.8%	1.8%

Return for Risk

SLYV vs. VIOO — Risk / Return Rank

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

SLYV

SLYV Risk / Return Rank: 85
SLYV Sharpe Ratio Rank: 84
SLYV Sortino Ratio Rank: 86
SLYV Omega Ratio Rank: 80
SLYV Calmar Ratio Rank: 89
SLYV Martin Ratio Rank: 86

VIOO

VIOO Risk / Return Rank: 82
VIOO Sharpe Ratio Rank: 80
VIOO Sortino Ratio Rank: 82
VIOO Omega Ratio Rank: 75
VIOO Calmar Ratio Rank: 88
VIOO Martin Ratio Rank: 85

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. VIOO - 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 Vanguard S&P Small-Cap 600 ETF (VIOO). 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	VIOO	Difference
Sharpe ratio: Return per unit of total volatility	2.04	1.90	+0.14
Sortino ratio: Return per unit of downside risk	2.96	2.79	+0.17
Omega ratio: Gain probability vs. loss probability	1.35	1.33	+0.02
Calmar ratio: Return relative to maximum drawdown	3.89	3.79	+0.10
Martin ratio: Return relative to average drawdown	12.97	12.74	+0.23

SLYV vs. VIOO - Sharpe Ratio Comparison

The current SLYV Sharpe Ratio is 2.04, which is comparable to the VIOO Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of SLYV and VIOO, 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. VIOO - Drawdown Comparison

The maximum SLYV drawdown since its inception was -61.15%, which is greater than VIOO's maximum drawdown of -44.15%. Use the drawdown chart below to compare losses from any high point for SLYV and VIOO.

Drawdown Indicators

	SLYV	VIOO	Difference
Max Drawdown Largest peak-to-trough decline	-61.15%	-44.15%	-17.00%
Max Drawdown (1Y) Largest decline over 1 year	-9.36%	-8.77%	-0.59%
Max Drawdown (3Y) Largest decline over 3 years	-28.68%	-27.93%	-0.75%
Max Drawdown (5Y) Largest decline over 5 years	-28.68%	-27.93%	-0.75%
Max Drawdown (10Y) Largest decline over 10 years	-47.73%	-44.15%	-3.58%
Current Drawdown Current decline from peak	-0.54%	-1.18%	+0.64%
Average Drawdown Average peak-to-trough decline	-8.90%	-7.28%	-1.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.81%	2.60%	+0.21%

Volatility

SLYV vs. VIOO - Volatility Comparison

SPDR S&P 600 Small Cap Value ETF (SLYV) and Vanguard S&P Small-Cap 600 ETF (VIOO) have volatilities of 3.58% and 3.49%, 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	VIOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.58%	3.49%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	11.61%	12.06%	-0.45%
Volatility (1Y) Calculated over the trailing 1-year period	17.87%	17.46%	+0.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.73%	21.27%	+0.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.90%	22.94%	+0.96%

SLYV vs. VIOO - Expense Ratio Comparison

SLYV has a 0.15% expense ratio, which is higher than VIOO's 0.07% 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. VIOO - Dividend Comparison

SLYV's dividend yield for the trailing twelve months is around 1.80%, more than VIOO's 1.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SLYV SPDR S&P 600 Small Cap Value ETF	1.80%	2.02%	2.30%	2.11%	1.47%	1.94%	1.40%	1.67%	2.14%	5.53%	2.18%	6.55%
VIOO Vanguard S&P Small-Cap 600 ETF	1.11%	1.36%	1.48%	1.47%	1.51%	1.16%	1.09%	1.37%	1.32%	1.11%	1.06%	1.26%

Frequently Asked Questions

Can I hold both SLYV and VIOO in my portfolio?

With a correlation of 0.97, SLYV and VIOO 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 VIOO?

SLYV has higher volatility (3.58%) compared to VIOO (3.49%). In terms of maximum drawdown, SLYV dropped -61.15% vs VIOO's -44.15%.

Which ETF is better, SLYV or VIOO?

On 10-year performance, VIOO leads with 10.83% vs 10.21% for SLYV. On fees, VIOO is cheaper at 0.07% 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 VIOO?

Over the 10-year period, VIOO has performed better with a 10.83% return vs 10.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SLYV or VIOO?

VIOO is cheaper with a 0.07% expense ratio, compared with 0.15% for SLYV.

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

SLYV has the higher dividend yield at 1.80%, compared with 1.11% for VIOO.

What is the main difference between SLYV and VIOO?

SLYV is categorized as Small Cap Value Equities, while VIOO is Small Cap Blend Equities. SLYV tracks S&P SmallCap 600 Value Index, while VIOO tracks S&P SmallCap 600 Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.15% for SLYV and 0.07% for VIOO.

Which has better risk-adjusted returns?

SLYV currently has the higher Sharpe Ratio (2.04 vs 1.90), 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.