SPSM vs. ISCB
Compare and contrast key facts about SPDR Portfolio S&P 600 Small Cap ETF (SPSM) and iShares Morningstar Small-Cap ETF (ISCB).
SPSM and ISCB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPSM is a passively managed fund by State Street that tracks the performance of the S&P SmallCap 600 Index. It was launched on Jul 8, 2013. ISCB is a passively managed fund by iShares that tracks the performance of the Morningstar US Small Cap Extended Index. It was launched on Jun 28, 2004. Both SPSM and ISCB are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SPSM or ISCB.
Performance
SPSM vs. ISCB - Performance Comparison
Returns By Period
In the year-to-date period, SPSM achieves a 12.61% return, which is significantly lower than ISCB's 14.47% return. Over the past 10 years, SPSM has outperformed ISCB with an annualized return of 9.12%, while ISCB has yielded a comparatively lower 7.50% annualized return.
SPSM
12.61%
2.09%
10.30%
27.14%
10.18%
9.12%
ISCB
14.47%
1.58%
10.15%
29.31%
7.48%
7.50%
Key characteristics
| SPSM | ISCB | |
|---|---|---|
| Sharpe Ratio | 1.43 | 1.66 |
| Sortino Ratio | 2.14 | 2.37 |
| Omega Ratio | 1.25 | 1.29 |
| Calmar Ratio | 1.58 | 1.50 |
| Martin Ratio | 8.10 | 9.12 |
| Ulcer Index | 3.52% | 3.39% |
| Daily Std Dev | 19.98% | 18.63% |
| Max Drawdown | -42.89% | -61.25% |
| Current Drawdown | -4.44% | -4.09% |
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SPSM vs. ISCB - Expense Ratio Comparison
SPSM has a 0.05% expense ratio, which is higher than ISCB's 0.04% 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%.
Correlation
The correlation between SPSM and ISCB is 0.94, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Risk-Adjusted Performance
SPSM vs. ISCB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio S&P 600 Small Cap ETF (SPSM) and iShares Morningstar Small-Cap ETF (ISCB). 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.
Dividends
SPSM vs. ISCB - Dividend Comparison
SPSM's dividend yield for the trailing twelve months is around 1.81%, more than ISCB's 1.22% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPSM SPDR Portfolio S&P 600 Small Cap ETF | 1.81% | 1.61% | 1.38% | 1.41% | 1.17% | 1.58% | 1.82% | 1.51% | 1.49% | 2.37% | 1.70% | 0.68% |
ISCB iShares Morningstar Small-Cap ETF | 1.22% | 1.49% | 1.63% | 1.26% | 1.26% | 1.25% | 1.60% | 1.24% | 1.58% | 1.40% | 1.18% | 0.87% |
Drawdowns
SPSM vs. ISCB - Drawdown Comparison
The maximum SPSM drawdown since its inception was -42.89%, smaller than the maximum ISCB drawdown of -61.25%. Use the drawdown chart below to compare losses from any high point for SPSM and ISCB. For additional features, visit the drawdowns tool.
Volatility
SPSM vs. ISCB - Volatility Comparison
SPDR Portfolio S&P 600 Small Cap ETF (SPSM) has a higher volatility of 7.72% compared to iShares Morningstar Small-Cap ETF (ISCB) at 6.49%. This indicates that SPSM's price experiences larger fluctuations and is considered to be riskier than ISCB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.