SMLV vs. FDLO
Compare and contrast key facts about SPDR SSGA US Small Cap Low Volatility Index ETF (SMLV) and Fidelity Low Volatility Factor ETF (FDLO).
SMLV and FDLO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SMLV is a passively managed fund by State Street that tracks the performance of the SSGA US Small Cap Low Volatility Index. It was launched on Feb 20, 2013. FDLO is a passively managed fund by Fidelity that tracks the performance of the Fidelity U.S. Low Volatility Factor Index. It was launched on Sep 12, 2016. Both SMLV and FDLO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
SMLV vs. FDLO - Performance Comparison
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SMLV vs. FDLO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF | 5.10% | 5.66% | 16.77% | 7.52% | -7.69% | 27.67% | -1.55% | 24.10% | -6.62% | 5.68% |
FDLO Fidelity Low Volatility Factor ETF | -2.82% | 11.77% | 16.06% | 16.38% | -10.38% | 24.00% | 12.19% | 31.10% | -0.26% | 20.44% |
Returns By Period
In the year-to-date period, SMLV achieves a 5.10% return, which is significantly higher than FDLO's -2.82% return.
SMLV
- 1D
- 1.29%
- 1M
- -2.65%
- YTD
- 5.10%
- 6M
- 7.05%
- 1Y
- 14.56%
- 3Y*
- 12.30%
- 5Y*
- 6.79%
- 10Y*
- 9.50%
FDLO
- 1D
- 1.64%
- 1M
- -5.22%
- YTD
- -2.82%
- 6M
- -1.20%
- 1Y
- 8.13%
- 3Y*
- 12.41%
- 5Y*
- 9.41%
- 10Y*
- —
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SMLV vs. FDLO - Expense Ratio Comparison
SMLV has a 0.12% expense ratio, which is lower than FDLO's 0.29% expense ratio.
Return for Risk
SMLV vs. FDLO — Risk / Return Rank
SMLV
FDLO
SMLV vs. FDLO - 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 Fidelity Low Volatility Factor ETF (FDLO). 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.
| SMLV | FDLO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.78 | 0.60 | +0.18 |
Sortino ratioReturn per unit of downside risk | 1.21 | 0.95 | +0.27 |
Omega ratioGain probability vs. loss probability | 1.16 | 1.14 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.31 | 0.86 | +0.46 |
Martin ratioReturn relative to average drawdown | 4.41 | 4.13 | +0.28 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SMLV | FDLO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.78 | 0.60 | +0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | 0.72 | -0.35 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.78 | -0.26 |
Correlation
The correlation between SMLV and FDLO is 0.68, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
SMLV vs. FDLO - Dividend Comparison
SMLV's dividend yield for the trailing twelve months is around 2.52%, more than FDLO's 1.47% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF | 2.52% | 2.74% | 2.68% | 2.68% | 2.40% | 2.12% | 2.47% | 2.62% | 3.15% | 7.92% | 3.04% | 2.63% |
FDLO Fidelity Low Volatility Factor ETF | 1.47% | 1.37% | 1.40% | 1.35% | 1.49% | 1.11% | 1.38% | 1.55% | 1.76% | 1.61% | 0.55% | 0.00% |
Drawdowns
SMLV vs. FDLO - Drawdown Comparison
The maximum SMLV drawdown since its inception was -42.45%, which is greater than FDLO's maximum drawdown of -34.35%. Use the drawdown chart below to compare losses from any high point for SMLV and FDLO.
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Drawdown Indicators
| SMLV | FDLO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.45% | -34.35% | -8.10% |
Max Drawdown (1Y)Largest decline over 1 year | -11.10% | -10.53% | -0.57% |
Max Drawdown (5Y)Largest decline over 5 years | -20.40% | -19.23% | -1.17% |
Max Drawdown (10Y)Largest decline over 10 years | -42.45% | — | — |
Current DrawdownCurrent decline from peak | -4.33% | -5.51% | +1.18% |
Average DrawdownAverage peak-to-trough decline | -5.52% | -3.42% | -2.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.31% | 2.18% | +1.13% |
Volatility
SMLV vs. FDLO - Volatility Comparison
SPDR SSGA US Small Cap Low Volatility Index ETF (SMLV) has a higher volatility of 4.80% compared to Fidelity Low Volatility Factor ETF (FDLO) at 3.41%. This indicates that SMLV's price experiences larger fluctuations and is considered to be riskier than FDLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMLV | FDLO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.80% | 3.41% | +1.39% |
Volatility (6M)Calculated over the trailing 6-month period | 10.57% | 6.73% | +3.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.66% | 13.63% | +5.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.30% | 13.13% | +5.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.96% | 15.60% | +5.36% |