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SMLF vs. VSTCX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SMLF vs. VSTCX

Last updated Jun 4, 2026

SMLF (iShares MSCI USA Small-Cap Multifactor ETF) and VSTCX (Vanguard Strategic Small-Cap Equity Fund) are both Small Cap Blend Equities funds. Over the past 10 years, SMLF returned 12.36%/yr vs 12.71%/yr for VSTCX. Their correlation of 0.91 suggests significant overlap in exposure. SMLF charges 0.30%/yr vs 0.26%/yr for VSTCX.

Performance

SMLF vs. VSTCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Small-Cap Multifactor ETF (SMLF) and Vanguard Strategic Small-Cap Equity Fund (VSTCX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SMLF achieves a 14.46% return, which is significantly lower than VSTCX's 18.22% return. Both investments have delivered pretty close results over the past 10 years, with SMLF having a 12.36% annualized return and VSTCX not far ahead at 12.71%.

SMLF

1D
-0.72%
1M
4.07%
YTD
14.46%
6M
14.20%
1Y
30.98%
3Y*
19.85%
5Y*
10.89%
10Y*
12.36%

VSTCX

1D
0.58%
1M
3.68%
YTD
18.22%
6M
18.42%
1Y
41.82%
3Y*
22.14%
5Y*
11.88%
10Y*
12.71%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SMLF vs. VSTCX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SMLF
iShares MSCI USA Small-Cap Multifactor ETF		14.46%12.30%16.33%19.99%-12.19%26.53%8.38%21.56%-8.42%12.70%
VSTCX
Vanguard Strategic Small-Cap Equity Fund		18.22%15.20%15.40%21.34%-13.00%33.53%8.38%22.18%-11.87%9.21%

Correlation

The correlation between SMLF and VSTCX is 0.96 - 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

0.96

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

0.97

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

0.98

Correlation (10Y)
Calculated over the trailing 10-year period

0.96

Correlation (All Time)
Calculated using the full available price history since May 1, 2015

0.91

The correlation between SMLF and VSTCX has been stable across timeframes, ranging from 0.91 to 0.98 - a consistent structural relationship.

SMLF vs. VSTCX - Sectors Allocation Comparison

Sectors
SMLF
VSTCX

Industrials

19.8%
16.1%

Technology

16.6%
14.9%

Financial Services

15.0%
18.3%

Healthcare

12.7%
14.1%

Consumer Cyclical

11.8%
11.1%

Real Estate

5.7%
6.5%

Energy

4.8%
6.2%

Basic Materials

4.6%
5.2%

Consumer Defensive

3.7%
3.0%

Communication Services

3.2%
2.4%

Utilities

2.2%
2.3%

Industrials

SMLF
19.8%
VSTCX
16.1%

Technology

SMLF
16.6%
VSTCX
14.9%

Financial Services

SMLF
15.0%
VSTCX
18.3%

Healthcare

SMLF
12.7%
VSTCX
14.1%

Consumer Cyclical

SMLF
11.8%
VSTCX
11.1%

Real Estate

SMLF
5.7%
VSTCX
6.5%

Energy

SMLF
4.8%
VSTCX
6.2%

Basic Materials

SMLF
4.6%
VSTCX
5.2%

Consumer Defensive

SMLF
3.7%
VSTCX
3.0%

Communication Services

SMLF
3.2%
VSTCX
2.4%

Utilities

SMLF
2.2%
VSTCX
2.3%

Compare stocks, funds, or ETFs

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iShares MSCI USA Small-Cap Multifactor ETF

Vanguard Strategic Small-Cap Equity Fund

Often compared with SMLF:
SMLF vs. FSMDSMLF vs. SMLVSMLF vs. IWMSMLF vs. SMMVSMLF vs. VBRSMLF vs. GSSCSMLF vs. FZIPX
Often compared with VSTCX:
VSTCX vs. VPMAXVSTCX vs. OBMCXVSTCX vs. AVUVVSTCX vs. VSGAXVSTCX vs. VOOVSTCX vs. VFIAXVSTCX vs. VEIRX

Return for Risk

SMLF vs. VSTCX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SMLF
SMLF Risk / Return Rank: 5858
Overall Rank
SMLF Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
SMLF Sortino Ratio Rank: 5252
Sortino Ratio Rank
SMLF Omega Ratio Rank: 4848
Omega Ratio Rank
SMLF Calmar Ratio Rank: 7171
Calmar Ratio Rank
SMLF Martin Ratio Rank: 6666
Martin Ratio Rank
VSTCX
VSTCX Risk / Return Rank: 7878
Overall Rank
VSTCX Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
VSTCX Sortino Ratio Rank: 7070
Sortino Ratio Rank
VSTCX Omega Ratio Rank: 5959
Omega Ratio Rank
VSTCX Calmar Ratio Rank: 9494
Calmar Ratio Rank
VSTCX Martin Ratio Rank: 9292
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.

SMLF vs. VSTCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Small-Cap Multifactor ETF (SMLF) and Vanguard Strategic Small-Cap Equity Fund (VSTCX). 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.

SMLFVSTCXDifference
Sharpe ratioReturn per unit of total volatility
1.81
2.50

-0.69

Sortino ratioReturn per unit of downside risk
2.56
3.47

-0.91

Omega ratioGain probability vs. loss probability

1.31

1.43

-0.12

Calmar ratioReturn relative to maximum drawdown

3.57

5.44

-1.87

Martin ratioReturn relative to average drawdown

12.27

19.17

-6.91

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMLF vs. VSTCX - Sharpe Ratio Comparison

The current SMLF Sharpe Ratio is 1.81, which is comparable to the VSTCX Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of SMLF and VSTCX, 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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Sharpe Ratios by Period

SMLFVSTCXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.81

2.50

-0.69

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.52

0.54

-0.02

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.57

0.54

+0.03

Sharpe Ratio (All Time)

Calculated using the full available price history

0.54

0.38

+0.15

Drawdowns

SMLF vs. VSTCX - Drawdown Comparison

The maximum SMLF drawdown since its inception was -41.89%, smaller than the maximum VSTCX drawdown of -62.50%. Use the drawdown chart below to compare losses from any high point for SMLF and VSTCX.

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Drawdown Indicators

SMLFVSTCXDifference

Max Drawdown

Largest peak-to-trough decline

-41.89%

-62.50%

+20.61%

Max Drawdown (1Y)

Largest decline over 1 year

-8.71%

-8.08%

-0.63%

Max Drawdown (3Y)

Largest decline over 3 years

-26.28%

-27.47%

+1.19%

Max Drawdown (5Y)

Largest decline over 5 years

-26.28%

-27.47%

+1.19%

Max Drawdown (10Y)

Largest decline over 10 years

-41.89%

-48.08%

+6.19%

Current Drawdown

Current decline from peak

-0.72%

0.00%

-0.72%

Average Drawdown

Average peak-to-trough decline

-6.60%

-10.65%

+4.05%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.53%

2.29%

+0.24%

Volatility

SMLF vs. VSTCX - Volatility Comparison

iShares MSCI USA Small-Cap Multifactor ETF (SMLF) has a higher volatility of 4.80% compared to Vanguard Strategic Small-Cap Equity Fund (VSTCX) at 4.49%. This indicates that SMLF's price experiences larger fluctuations and is considered to be riskier than VSTCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SMLFVSTCXDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.80%

4.49%

+0.31%

Volatility (6M)

Calculated over the trailing 6-month period

12.31%

11.97%

+0.34%

Volatility (1Y)

Calculated over the trailing 1-year period

17.21%

17.57%

-0.36%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.09%

21.99%

-0.90%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.78%

23.47%

-1.69%

SMLF vs. VSTCX - Expense Ratio Comparison

SMLF has a 0.30% expense ratio, which is higher than VSTCX's 0.26% expense ratio.

Dividends

SMLF vs. VSTCX - Dividend Comparison

SMLF's dividend yield for the trailing twelve months is around 1.03%, less than VSTCX's 6.38% yield.

PositionTTM20252024202320222021202020192018201720162015
SMLF
iShares MSCI USA Small-Cap Multifactor ETF		1.03%1.14%1.33%1.13%1.23%1.07%1.33%1.39%1.17%0.93%0.78%0.79%
VSTCX
Vanguard Strategic Small-Cap Equity Fund		6.38%7.55%9.66%2.50%7.44%19.92%1.24%4.14%11.74%5.76%1.35%2.33%

Frequently Asked Questions

With a correlation of 0.96, SMLF and VSTCX 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.

SMLF has higher volatility (4.80%) compared to VSTCX (4.49%). In terms of maximum drawdown, SMLF dropped -41.89% vs VSTCX's -62.50%.

VSTCX currently has the higher Sharpe Ratio (2.50 vs 1.81), 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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