SMOT vs. SMLV

Last updated Jul 17, 2026

SMOT (VanEck Morningstar SMID Moat ETF) and SMLV (SPDR SSGA US Small Cap Low Volatility Index ETF) are both exchange-traded funds - SMOT is a Mid Cap Blend Equities fund tracking the Morningstar US Small-Mid Cap Moat Focus, while SMLV is a Volatility Hedged Equity fund tracking the SSGA US Small Cap Low Volatility Index. Both are passively managed. Over the past 3 years, SMOT returned 9.86%/yr vs 18.40%/yr for SMLV. Their correlation of 0.81 suggests significant overlap in exposure. SMOT charges 0.49%/yr vs 0.12%/yr for SMLV.

Performance

SMOT vs. SMLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Morningstar SMID Moat ETF (SMOT) and SPDR SSGA US Small Cap Low Volatility Index ETF (SMLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMOT achieves a 9.36% return, which is significantly lower than SMLV's 24.21% return.

SMOT

• 1D: 1.14%
• 1M: 2.12%
• 6M: 4.93%
• YTD: 9.36%
• 1Y: 14.00%
• 3Y*: 9.86%
• 5Y*: —
• 10Y*: —

SMLV

• 1D: 2.08%
• 1M: 5.86%
• 6M: 17.39%
• YTD: 24.21%
• 1Y: 30.81%
• 3Y*: 18.40%
• 5Y*: 10.73%
• 10Y*: 10.74%

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

SMOT vs. SMLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SMOT VanEck Morningstar SMID Moat ETF	9.36%	6.46%	10.71%	17.31%	3.85%
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF	24.21%	5.66%	16.77%	7.52%	5.74%

Correlation

The correlation between SMOT and SMLV is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (All Time) Calculated using the full available price history since Oct 6, 2022	0.81

The correlation between SMOT and SMLV has been stable across timeframes, ranging from 0.73 to 0.81 - a consistent structural relationship.

SMOT vs. SMLV - Sectors Allocation Comparison

Sectors	SMOT	SMLV
Healthcare	23.4%	8.7%
Consumer Cyclical	15.1%	8.9%
Industrials	14.5%	14.2%
Technology	11.0%	11.7%
Consumer Defensive	10.6%	4.0%
Basic Materials	9.1%	3.4%
Financial Services	7.9%	30.4%
Communication Services	3.3%	2.2%
Real Estate	2.3%	12.3%
Energy	1.7%	1.6%
Utilities	0.7%	2.8%

Return for Risk

SMOT vs. SMLV — Risk / Return Rank

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

SMOT

SMOT Risk / Return Rank: 35
SMOT Sharpe Ratio Rank: 34
SMOT Sortino Ratio Rank: 35
SMOT Omega Ratio Rank: 31
SMOT Calmar Ratio Rank: 38
SMOT Martin Ratio Rank: 40

SMLV

SMLV Risk / Return Rank: 81
SMLV Sharpe Ratio Rank: 79
SMLV Sortino Ratio Rank: 80
SMLV Omega Ratio Rank: 79
SMLV Calmar Ratio Rank: 89
SMLV Martin Ratio Rank: 79

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.

SMOT vs. SMLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Morningstar SMID Moat ETF (SMOT) and SPDR SSGA US Small Cap Low Volatility Index ETF (SMLV). 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.

	SMOT	SMLV	Difference
Sharpe ratio: Return per unit of total volatility	1.00	2.01	-1.01
Sortino ratio: Return per unit of downside risk	1.56	2.87	-1.31
Omega ratio: Gain probability vs. loss probability	1.18	1.37	-0.19
Calmar ratio: Return relative to maximum drawdown	1.58	4.22	-2.64
Martin ratio: Return relative to average drawdown	5.04	11.89	-6.85

SMOT vs. SMLV - Sharpe Ratio Comparison

The current SMOT Sharpe Ratio is 1.00, which is lower than the SMLV Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of SMOT and SMLV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SMOT vs. SMLV - Drawdown Comparison

The maximum SMOT drawdown since its inception was -23.36%, smaller than the maximum SMLV drawdown of -42.45%. Use the drawdown chart below to compare losses from any high point for SMOT and SMLV.

Drawdown Indicators

	SMOT	SMLV	Difference
Max Drawdown Largest peak-to-trough decline	-23.36%	-42.45%	+19.09%
Max Drawdown (1Y) Largest decline over 1 year	-8.91%	-7.34%	-1.57%
Max Drawdown (3Y) Largest decline over 3 years	-23.36%	-20.40%	-2.96%
Max Drawdown (5Y) Largest decline over 5 years	—	-20.40%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-42.45%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.72%	-5.41%	+0.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.78%	2.60%	+0.18%

Volatility

SMOT vs. SMLV - Volatility Comparison

VanEck Morningstar SMID Moat ETF (SMOT) and SPDR SSGA US Small Cap Low Volatility Index ETF (SMLV) have volatilities of 3.66% and 3.78%, 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.

Volatility by Period

	SMOT	SMLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.66%	3.78%	-0.12%
Volatility (6M) Calculated over the trailing 6-month period	10.07%	10.11%	-0.04%
Volatility (1Y) Calculated over the trailing 1-year period	14.06%	15.44%	-1.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.33%	18.26%	+0.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.33%	20.90%	-2.57%

SMOT vs. SMLV - Expense Ratio Comparison

SMOT has a 0.49% expense ratio, which is higher than SMLV's 0.12% expense ratio.

Dividends

SMOT vs. SMLV - Dividend Comparison

SMOT's dividend yield for the trailing twelve months is around 1.26%, less than SMLV's 2.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF	2.19%	2.74%	2.68%	2.68%	2.40%	2.12%	2.47%	2.62%	3.15%	7.92%	3.04%	2.63%
SMOT VanEck Morningstar SMID Moat ETF	1.26%	1.37%	1.18%	0.65%	0.24%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SMOT and SMLV in my portfolio?

SMOT and SMLV have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMOT or SMLV?

SMLV has higher volatility (3.78%) compared to SMOT (3.66%). In terms of maximum drawdown, SMOT dropped -23.36% vs SMLV's -42.45%.

Which ETF is better, SMOT or SMLV?

On 3-year performance, SMLV leads with 18.40% vs 9.86% for SMOT. On fees, SMLV is cheaper at 0.12% per year. On volatility, SMOT has been the lower-risk option at 3.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMOT or SMLV?

Over the 3-year period, SMLV has performed better with a 18.40% return vs 9.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMOT or SMLV?

SMLV is cheaper with a 0.12% expense ratio, compared with 0.49% for SMOT.

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

SMLV has the higher dividend yield at 2.19%, compared with 1.26% for SMOT.

What is the main difference between SMOT and SMLV?

SMOT is categorized as Mid Cap Blend Equities, while SMLV is Volatility Hedged Equity. SMOT tracks Morningstar US Small-Mid Cap Moat Focus, while SMLV tracks SSGA US Small Cap Low Volatility Index. They also come from different issuers: VanEck and State Street. Their fees differ too: 0.49% for SMOT and 0.12% for SMLV.

Which has better risk-adjusted returns?

SMLV currently has the higher Sharpe Ratio (2.01 vs 1.00), 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.