SMLV vs. XJR

Last updated Jun 9, 2026

SMLV (SPDR SSGA US Small Cap Low Volatility Index ETF) and XJR (iShares ESG Screened S&P Small-Cap ETF) are both exchange-traded funds - SMLV is a Volatility Hedged Equity fund tracking the SSGA US Small Cap Low Volatility Index, while XJR is a Small Cap Blend Equities fund tracking the S&P SmallCap 600 Sustainability Screened Index. Both are passively managed. Over the past 5 years, SMLV returned 8.02%/yr vs 5.18%/yr for XJR. Their correlation of 0.93 suggests significant overlap in exposure. Both charge a 0.12% expense ratio.

Performance

SMLV vs. XJR - 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 ESG Screened S&P Small-Cap ETF (XJR). 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 SMLV having a 14.81% return and XJR slightly higher at 15.29%.

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%

XJR

• 1D: 0.74%
• 1M: 0.49%
• YTD: 15.29%
• 6M: 14.96%
• 1Y: 27.56%
• 3Y*: 13.70%
• 5Y*: 5.18%
• 10Y*: —

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

SMLV vs. XJR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF	14.81%	5.66%	16.77%	7.52%	-7.69%	27.67%	31.64%
XJR iShares ESG Screened S&P Small-Cap ETF	15.29%	4.73%	9.59%	16.39%	-17.30%	24.96%	35.61%

Correlation

The correlation between SMLV and XJR is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Sep 25, 2020	0.93

The correlation between SMLV and XJR has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

SMLV vs. XJR - Sectors Allocation Comparison

Sectors	SMLV	XJR
Financial Services	30.5%	18.2%
Industrials	14.3%	15.5%
Real Estate	12.2%	7.6%
Technology	11.2%	16.8%
Consumer Cyclical	8.7%	13.5%
Healthcare	8.7%	10.7%
Consumer Defensive	4.3%	2.7%
Basic Materials	3.2%	4.5%
Utilities	2.9%	2.0%
Communication Services	2.2%	2.5%
Energy	1.8%	4.7%

Return for Risk

SMLV vs. XJR — Risk / Return Rank

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

SMLV

SMLV Risk / Return Rank: 54
SMLV Sharpe Ratio Rank: 48
SMLV Sortino Ratio Rank: 49
SMLV Omega Ratio Rank: 49
SMLV Calmar Ratio Rank: 70
SMLV Martin Ratio Rank: 55

XJR

XJR Risk / Return Rank: 55
XJR Sharpe Ratio Rank: 50
XJR Sortino Ratio Rank: 52
XJR Omega Ratio Rank: 47
XJR Calmar Ratio Rank: 65
XJR Martin Ratio Rank: 59

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. XJR - 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 ESG Screened S&P Small-Cap ETF (XJR). 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	XJR	Difference
Sharpe ratio: Return per unit of total volatility	1.50	1.55	-0.05
Sortino ratio: Return per unit of downside risk	2.17	2.28	-0.11
Omega ratio: Gain probability vs. loss probability	1.28	1.27	+0.01
Calmar ratio: Return relative to maximum drawdown	3.21	2.93	+0.27
Martin ratio: Return relative to average drawdown	8.78	9.42	-0.64
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. XJR - Sharpe Ratio Comparison

The current SMLV Sharpe Ratio is 1.50, which is comparable to the XJR Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of SMLV and XJR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SMLV	XJR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.50	1.55	-0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.44	0.24	+0.20
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	0.67	-0.12

Drawdowns

SMLV vs. XJR - Drawdown Comparison

The maximum SMLV drawdown since its inception was -42.45%, which is greater than XJR's maximum drawdown of -27.14%. Use the drawdown chart below to compare losses from any high point for SMLV and XJR.

Drawdown Indicators

	SMLV	XJR	Difference
Max Drawdown Largest peak-to-trough decline	-42.45%	-27.14%	-15.31%
Max Drawdown (1Y) Largest decline over 1 year	-7.34%	-9.43%	+2.09%
Max Drawdown (3Y) Largest decline over 3 years	-20.40%	-27.14%	+6.74%
Max Drawdown (5Y) Largest decline over 5 years	-20.40%	-27.14%	+6.74%
Max Drawdown (10Y) Largest decline over 10 years	-42.45%	—	—
Current Drawdown Current decline from peak	0.00%	-1.08%	+1.08%
Average Drawdown Average peak-to-trough decline	-5.45%	-9.46%	+4.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.68%	2.93%	-0.25%

Volatility

SMLV vs. XJR - Volatility Comparison

The current volatility for SPDR SSGA US Small Cap Low Volatility Index ETF (SMLV) is 4.09%, while iShares ESG Screened S&P Small-Cap ETF (XJR) has a volatility of 5.06%. This indicates that SMLV experiences smaller price fluctuations and is considered to be less risky than XJR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMLV	XJR	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.09%	5.06%	-0.97%
Volatility (6M) Calculated over the trailing 6-month period	9.92%	12.41%	-2.49%
Volatility (1Y) Calculated over the trailing 1-year period	15.73%	17.95%	-2.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.29%	21.45%	-3.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.96%	21.73%	-0.77%

SMLV vs. XJR - Expense Ratio Comparison

Both SMLV and XJR have an expense ratio of 0.12%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

SMLV vs. XJR - Dividend Comparison

SMLV's dividend yield for the trailing twelve months is around 2.31%, more than XJR's 0.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
XJR iShares ESG Screened S&P Small-Cap ETF	0.99%	1.14%	1.96%	0.92%	1.29%	2.00%	0.58%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SMLV and XJR in my portfolio?

With a correlation of 0.91, SMLV and XJR 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, SMLV or XJR?

XJR has higher volatility (5.06%) compared to SMLV (4.09%). In terms of maximum drawdown, SMLV dropped -42.45% vs XJR's -27.14%.

Which ETF is better, SMLV or XJR?

On 5-year performance, SMLV leads with 8.02% vs 5.18% for XJR. Both ETFs have the same 0.12% expense ratio. On volatility, SMLV has been the lower-risk option at 4.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMLV or XJR?

Over the 5-year period, SMLV has performed better with a 8.02% return vs 5.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMLV or XJR?

SMLV and XJR have the same expense ratio: 0.12% per year.

Which ETF pays a higher dividend yield, SMLV or XJR?

SMLV has the higher dividend yield at 2.31%, compared with 0.99% for XJR.

What is the main difference between SMLV and XJR?

SMLV is categorized as Volatility Hedged Equity, while XJR is Small Cap Blend Equities. SMLV tracks SSGA US Small Cap Low Volatility Index, while XJR tracks S&P SmallCap 600 Sustainability Screened Index. They also come from different issuers: State Street and iShares.

Which has better risk-adjusted returns?

XJR currently has the higher Sharpe Ratio (1.54 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.