SPSM vs. RB
SPSM (State Street SPDR Portfolio S&P 600 Small Cap ETF) and RB (ProShares Russell 2000 Dynamic Daily Buffer ETF) are both exchange-traded funds - SPSM is a Small Cap Blend Equities fund tracking the S&P SmallCap 600 Index, while RB is a Defined Outcome fund tracking the Russell 2000. Both are passively managed. A 0.74 correlation means they provide meaningful diversification when combined. SPSM charges 0.03%/yr vs 0.58%/yr for RB.
Performance
SPSM vs. RB - Performance Comparison
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Returns By Period
In the year-to-date period, SPSM achieves a 19.33% return, which is significantly higher than RB's 8.33% return.
SPSM
- 1D
- -0.34%
- 1M
- 4.27%
- YTD
- 19.33%
- 6M
- 16.91%
- 1Y
- 34.61%
- 3Y*
- 16.26%
- 5Y*
- 6.36%
- 10Y*
- 11.47%
RB
- 1D
- -0.14%
- 1M
- 1.83%
- YTD
- 8.33%
- 6M
- 8.01%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPSM vs. RB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SPSM State Street SPDR Portfolio S&P 600 Small Cap ETF | 19.33% | 12.75% |
RB ProShares Russell 2000 Dynamic Daily Buffer ETF | 8.33% | 10.85% |
Correlation
The correlation between SPSM and RB is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.74 |
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Return for Risk
SPSM vs. RB — Risk / Return Rank
SPSM
RB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SPSM vs. RB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Portfolio S&P 600 Small Cap ETF (SPSM) and ProShares Russell 2000 Dynamic Daily Buffer ETF (RB). 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.
| SPSM | RB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.34 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.99 | — | — |
| Martin ratioReturn relative to average drawdown | 13.45 | — | — |
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Drawdowns
SPSM vs. RB - Drawdown Comparison
The maximum SPSM drawdown since its inception was -42.89%, which is greater than RB's maximum drawdown of -2.09%. Use the drawdown chart below to compare losses from any high point for SPSM and RB.
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Drawdown Indicators
| SPSM | RB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.89% | -2.09% | -40.80% |
Max Drawdown (1Y)Largest decline over 1 year | -8.72% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -27.94% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -27.94% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -42.89% | — | — |
Current DrawdownCurrent decline from peak | -0.41% | -0.14% | -0.27% |
Average DrawdownAverage peak-to-trough decline | -7.89% | -0.43% | -7.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.58% | — | — |
Volatility
SPSM vs. RB - Volatility Comparison
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Volatility by Period
| SPSM | RB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.93% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 12.04% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 17.65% | 6.55% | +11.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.42% | 6.55% | +14.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.99% | 6.55% | +16.44% |
SPSM vs. RB - Expense Ratio Comparison
SPSM has a 0.03% expense ratio, which is lower than RB's 0.58% expense ratio.
Dividends
SPSM vs. RB - Dividend Comparison
SPSM's dividend yield for the trailing twelve months is around 1.41%, less than RB's 1.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RB ProShares Russell 2000 Dynamic Daily Buffer ETF | 1.97% | 1.78% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPSM State Street SPDR Portfolio S&P 600 Small Cap ETF | 1.41% | 1.62% | 1.85% | 1.61% | 1.38% | 1.40% | 1.34% | 1.58% | 1.82% | 1.51% | 1.49% | 2.37% |
Frequently Asked Questions
SPSM and RB have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPSM is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPSM is cheaper with a 0.03% expense ratio, compared with 0.58% for RB.
RB has the higher dividend yield at 1.97%, compared with 1.41% for SPSM.
SPSM is categorized as Small Cap Blend Equities, while RB is Defined Outcome. SPSM tracks S&P SmallCap 600 Index, while RB tracks Russell 2000. They also come from different issuers: State Street and ProShares. Their fees differ too: 0.03% for SPSM and 0.58% for RB.
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