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SMLV vs. DIVB
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SMLV vs. DIVB

Last updated Jun 9, 2026

SMLV (SPDR SSGA US Small Cap Low Volatility Index ETF) and DIVB (iShares U.S. Dividend and Buyback ETF) are both exchange-traded funds - SMLV is a Volatility Hedged Equity fund tracking the SSGA US Small Cap Low Volatility Index, while DIVB is a Large Cap Blend Equities fund tracking the Morningstar US Dividend and Buyback Index. Both are passively managed. Over the past 5 years, SMLV returned 8.02%/yr vs 11.98%/yr for DIVB. A 0.79 correlation means they provide meaningful diversification when combined. SMLV charges 0.12%/yr vs 0.25%/yr for DIVB.

Performance

SMLV vs. DIVB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR SSGA US Small Cap Low Volatility Index ETF (SMLV) and iShares U.S. Dividend and Buyback ETF (DIVB). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SMLV achieves a 14.81% return, which is significantly lower than DIVB's 16.10% return.

SMLV

1D
0.20%
1M
1.40%
YTD
14.81%
6M
15.50%
1Y
23.44%
3Y*
15.62%
5Y*
8.02%
10Y*
10.25%

DIVB

1D
0.09%
1M
5.36%
YTD
16.10%
6M
16.58%
1Y
27.52%
3Y*
21.21%
5Y*
11.98%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

SMLV vs. DIVB - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SMLV
SPDR SSGA US Small Cap Low Volatility Index ETF		14.81%5.66%16.77%7.52%-7.69%27.67%-1.55%24.10%-6.62%2.79%
DIVB
iShares U.S. Dividend and Buyback ETF		16.10%15.09%18.59%13.27%-10.51%31.29%10.78%32.72%-8.16%5.95%

Correlation

The correlation between SMLV and DIVB 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

0.78

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

0.81

Correlation (All Time)
Calculated using the full available price history since Nov 10, 2017

0.79

The correlation between SMLV and DIVB has been stable across timeframes, ranging from 0.76 to 0.81 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

SPDR SSGA US Small Cap Low Volatility Index ETF

iShares U.S. Dividend and Buyback ETF

Often compared with SMLV:
SMLV vs. SMLFSMLV vs. SMMVSMLV vs. LGLVSMLV vs. SCHGSMLV vs. PSCCSMLV vs. XSLVSMLV vs. FYC
Often compared with DIVB:
DIVB vs. SCHDDIVB vs. DGRODIVB vs. VOODIVB vs. PKWDIVB vs. SPDGDIVB vs. CALFDIVB vs. DHS

Return for Risk

SMLV vs. DIVB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SMLV
SMLV Risk / Return Rank: 5454
Overall Rank
SMLV Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
SMLV Sortino Ratio Rank: 4949
Sortino Ratio Rank
SMLV Omega Ratio Rank: 4949
Omega Ratio Rank
SMLV Calmar Ratio Rank: 7070
Calmar Ratio Rank
SMLV Martin Ratio Rank: 5555
Martin Ratio Rank
DIVB
DIVB Risk / Return Rank: 8181
Overall Rank
DIVB Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
DIVB Sortino Ratio Rank: 8383
Sortino Ratio Rank
DIVB Omega Ratio Rank: 7979
Omega Ratio Rank
DIVB Calmar Ratio Rank: 8484
Calmar Ratio Rank
DIVB Martin Ratio Rank: 7878
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.

SMLV vs. DIVB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR SSGA US Small Cap Low Volatility Index ETF (SMLV) and iShares U.S. Dividend and Buyback ETF (DIVB). 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.

SMLVDIVBDifference
Sharpe ratioReturn per unit of total volatility
1.50
2.40

-0.90

Sortino ratioReturn per unit of downside risk
2.17
3.35

-1.18

Omega ratioGain probability vs. loss probability

1.28

1.42

-0.15

Calmar ratioReturn relative to maximum drawdown

3.21

4.05

-0.84

Martin ratioReturn relative to average drawdown

8.78

13.75

-4.97

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

SMLV vs. DIVB - Sharpe Ratio Comparison

The current SMLV Sharpe Ratio is 1.50, which is lower than the DIVB Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of SMLV and DIVB, 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

SMLVDIVBDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.50

2.40

-0.90

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.44

0.79

-0.35

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.49

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.55

0.75

-0.20

Drawdowns

SMLV vs. DIVB - Drawdown Comparison

The maximum SMLV drawdown since its inception was -42.45%, which is greater than DIVB's maximum drawdown of -36.93%. Use the drawdown chart below to compare losses from any high point for SMLV and DIVB.

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Drawdown Indicators

SMLVDIVBDifference

Max Drawdown

Largest peak-to-trough decline

-42.45%

-36.93%

-5.52%

Max Drawdown (1Y)

Largest decline over 1 year

-7.34%

-6.82%

-0.52%

Max Drawdown (3Y)

Largest decline over 3 years

-20.40%

-15.45%

-4.95%

Max Drawdown (5Y)

Largest decline over 5 years

-20.40%

-21.08%

+0.68%

Max Drawdown (10Y)

Largest decline over 10 years

-42.45%

—

—

Current Drawdown

Current decline from peak

0.00%

-1.98%

+1.98%

Average Drawdown

Average peak-to-trough decline

-5.45%

-4.99%

-0.46%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.68%

2.01%

+0.67%

Volatility

SMLV vs. DIVB - Volatility Comparison

SPDR SSGA US Small Cap Low Volatility Index ETF (SMLV) and iShares U.S. Dividend and Buyback ETF (DIVB) have volatilities of 4.09% and 4.05%, 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.

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Volatility by Period

SMLVDIVBDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.09%

4.05%

+0.04%

Volatility (6M)

Calculated over the trailing 6-month period

9.92%

8.68%

+1.24%

Volatility (1Y)

Calculated over the trailing 1-year period

15.73%

11.53%

+4.20%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.29%

15.26%

+3.03%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.96%

18.38%

+2.58%

SMLV vs. DIVB - Expense Ratio Comparison

SMLV has a 0.12% expense ratio, which is lower than DIVB's 0.25% 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

SMLV vs. DIVB - Dividend Comparison

SMLV's dividend yield for the trailing twelve months is around 2.31%, more than DIVB's 2.21% yield.

PositionTTM20252024202320222021202020192018201720162015
DIVB
iShares U.S. Dividend and Buyback ETF		2.21%2.50%2.61%3.18%2.02%1.63%2.08%2.07%2.52%0.37%0.00%0.00%
SMLV
SPDR SSGA US Small Cap Low Volatility Index ETF		2.31%2.74%2.68%2.68%2.40%2.12%2.47%2.62%3.15%7.92%3.04%2.63%

Frequently Asked Questions

SMLV and DIVB 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.

SMLV has higher volatility (4.09%) compared to DIVB (4.05%). In terms of maximum drawdown, SMLV dropped -42.45% vs DIVB's -36.93%.

On 5-year performance, DIVB leads with 11.98% vs 8.02% for SMLV. On fees, SMLV is cheaper at 0.12% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, DIVB has performed better with a 11.98% return vs 8.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SMLV is cheaper with a 0.12% expense ratio, compared with 0.25% for DIVB.

SMLV has the higher dividend yield at 2.31%, compared with 2.21% for DIVB.

SMLV is categorized as Volatility Hedged Equity, while DIVB is Large Cap Blend Equities. SMLV tracks SSGA US Small Cap Low Volatility Index, while DIVB tracks Morningstar US Dividend and Buyback Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.12% for SMLV and 0.25% for DIVB.

DIVB currently has the higher Sharpe Ratio (2.40 vs 1.50), 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.

Portfolio Optimizer

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