SMLV vs. DIVB
SMLV (SPDR SSGA US Small Cap Low Volatility Index ETF) and DIVB (iShares Core Dividend 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 Dividend fund tracking the Morningstar US Dividend and Buyback Index. Both are passively managed. Over the past 5 years, SMLV returned 10.21%/yr vs 12.76%/yr for DIVB. A 0.79 correlation means they provide meaningful diversification when combined. SMLV charges 0.12%/yr vs 0.05%/yr for DIVB.
Performance
SMLV vs. DIVB - Performance Comparison
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Returns By Period
In the year-to-date period, SMLV achieves a 22.24% return, which is significantly higher than DIVB's 21.10% return.
SMLV
- 1D
- -0.67%
- 1M
- 4.61%
- 6M
- 15.91%
- YTD
- 22.24%
- 1Y
- 28.48%
- 3Y*
- 17.10%
- 5Y*
- 10.21%
- 10Y*
- 10.42%
- ALL TIME*
- 11.06%
DIVB
- 1D
- -0.39%
- 1M
- 4.50%
- 6M
- 17.92%
- YTD
- 21.10%
- 1Y
- 28.75%
- 3Y*
- 20.41%
- 5Y*
- 12.76%
- 10Y*
- —
- ALL TIME*
- 14.10%
SMLV vs. DIVB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF | 22.24% | 5.66% | 16.77% | 7.52% | -7.69% | 27.67% | -1.55% | 24.10% | -6.62% | 2.63% |
DIVB iShares Core Dividend ETF | 21.10% | 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 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2017 | 0.79 |
The correlation between SMLV and DIVB has been stable across timeframes, ranging from 0.71 to 0.81 - a consistent structural relationship.
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Return for Risk
SMLV vs. DIVB — Risk / Return Rank
SMLV
DIVB
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 Core Dividend 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.
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.
| SMLV | DIVB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -0.67 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.42 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.90 | 4.23 | -0.33 |
| Martin ratioReturn relative to average drawdown | 10.99 | 14.18 | -3.19 |
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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
| SMLV | DIVB | Difference | |
|---|---|---|---|
Max DrawdownLargest 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 DrawdownCurrent decline from peak | -1.59% | -0.84% | -0.75% |
Average DrawdownAverage peak-to-trough decline | -5.41% | -4.93% | -0.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.60% | 2.03% | +0.57% |
Volatility
SMLV vs. DIVB - Volatility Comparison
The current volatility for SPDR SSGA US Small Cap Low Volatility Index ETF (SMLV) is 3.75%, while iShares Core Dividend ETF (DIVB) has a volatility of 4.60%. This indicates that SMLV experiences smaller price fluctuations and is considered to be less risky than DIVB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMLV | DIVB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.75% | 4.60% | -0.85% |
Volatility (6M)Calculated over the trailing 6-month period | 10.09% | 9.52% | +0.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.46% | 12.19% | +3.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.23% | 15.32% | +2.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.91% | 18.35% | +2.56% |
SMLV vs. DIVB - Expense Ratio Comparison
SMLV has a 0.12% expense ratio, which is higher than DIVB's 0.05% 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
SMLV vs. DIVB - Dividend Comparison
SMLV's dividend yield for the trailing twelve months is around 2.23%, more than DIVB's 2.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DIVB iShares Core Dividend ETF | 2.19% | 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 | 2.23% | 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 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DIVB has higher volatility (4.60%) compared to SMLV (3.75%). In terms of maximum drawdown, SMLV dropped -42.45% vs DIVB's -36.93%.
On 5-year performance, DIVB leads with 12.76% vs 10.21% for SMLV. On fees, DIVB is cheaper at 0.05% per year. On volatility, SMLV has been the lower-risk option at 3.75%. 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 12.76% return vs 10.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DIVB is cheaper with a 0.05% expense ratio, compared with 0.12% for SMLV.
SMLV has the higher dividend yield at 2.23%, compared with 2.19% for DIVB.
SMLV is categorized as Volatility Hedged Equity, while DIVB is Dividend. 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 0.05% for DIVB.
DIVB currently has the higher Sharpe Ratio (2.37 vs 1.85), 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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