SPSM vs. RLBGX

Last updated Jun 4, 2026

SPSM (SPDR Portfolio S&P 600 Small Cap ETF) and RLBGX (American Funds American Balanced Fund Class R-6) are both funds - SPSM is a Small Cap Blend Equities fund tracking the S&P SmallCap 600 Index, while RLBGX is a Diversified Portfolio fund managed by American Funds. Over the past 10 years, SPSM returned 10.77%/yr vs 10.48%/yr for RLBGX. A 0.77 correlation means they provide meaningful diversification when combined. SPSM charges 0.05%/yr vs 0.25%/yr for RLBGX.

Performance

SPSM vs. RLBGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio S&P 600 Small Cap ETF (SPSM) and American Funds American Balanced Fund Class R-6 (RLBGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPSM achieves a 15.28% return, which is significantly higher than RLBGX's 10.11% return. Both investments have delivered pretty close results over the past 10 years, with SPSM having a 10.77% annualized return and RLBGX not far behind at 10.48%.

SPSM

• 1D: -0.92%
• 1M: 1.62%
• YTD: 15.28%
• 6M: 14.19%
• 1Y: 31.50%
• 3Y*: 14.42%
• 5Y*: 5.71%
• 10Y*: 10.77%

RLBGX

• 1D: 0.24%
• 1M: 3.99%
• YTD: 10.11%
• 6M: 10.77%
• 1Y: 25.37%
• 3Y*: 17.89%
• 5Y*: 10.05%
• 10Y*: 10.48%

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

SPSM vs. RLBGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPSM SPDR Portfolio S&P 600 Small Cap ETF	15.28%	6.11%	8.55%	16.11%	-16.12%	26.67%	11.69%	25.85%	-11.17%	15.44%
RLBGX American Funds American Balanced Fund Class R-6	10.11%	18.83%	15.35%	13.92%	-11.85%	16.10%	11.20%	18.95%	-3.07%	14.97%

Correlation

The correlation between SPSM and RLBGX 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	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since Jul 10, 2013	0.77

The correlation between SPSM and RLBGX has been stable across timeframes, ranging from 0.73 to 0.79 - a consistent structural relationship.

Return for Risk

SPSM vs. RLBGX — Risk / Return Rank

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

SPSM

SPSM Risk / Return Rank: 58
SPSM Sharpe Ratio Rank: 52
SPSM Sortino Ratio Rank: 54
SPSM Omega Ratio Rank: 49
SPSM Calmar Ratio Rank: 72
SPSM Martin Ratio Rank: 65

RLBGX

RLBGX Risk / Return Rank: 86
RLBGX Sharpe Ratio Rank: 90
RLBGX Sortino Ratio Rank: 88
RLBGX Omega Ratio Rank: 85
RLBGX Calmar Ratio Rank: 81
RLBGX Martin Ratio Rank: 87

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.

SPSM vs. RLBGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio S&P 600 Small Cap ETF (SPSM) and American Funds American Balanced Fund Class R-6 (RLBGX). 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.

	SPSM	RLBGX	Difference
Sharpe ratio: Return per unit of total volatility	1.82	2.99	-1.18
Sortino ratio: Return per unit of downside risk	2.64	4.18	-1.54
Omega ratio: Gain probability vs. loss probability	1.32	1.57	-0.26
Calmar ratio: Return relative to maximum drawdown	3.63	3.73	-0.10
Martin ratio: Return relative to average drawdown	12.14	16.84	-4.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPSM vs. RLBGX - Sharpe Ratio Comparison

The current SPSM Sharpe Ratio is 1.82, which is lower than the RLBGX Sharpe Ratio of 2.99. The chart below compares the historical Sharpe Ratios of SPSM and RLBGX, 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

	SPSM	RLBGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.82	2.99	-1.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.27	0.96	-0.70
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	0.99	-0.52
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.98	-0.53

Drawdowns

SPSM vs. RLBGX - Drawdown Comparison

The maximum SPSM drawdown since its inception was -42.89%, which is greater than RLBGX's maximum drawdown of -22.33%. Use the drawdown chart below to compare losses from any high point for SPSM and RLBGX.

Drawdown Indicators

	SPSM	RLBGX	Difference
Max Drawdown Largest peak-to-trough decline	-42.89%	-22.33%	-20.56%
Max Drawdown (1Y) Largest decline over 1 year	-8.72%	-6.98%	-1.74%
Max Drawdown (3Y) Largest decline over 3 years	-27.94%	-10.65%	-17.29%
Max Drawdown (5Y) Largest decline over 5 years	-27.94%	-18.59%	-9.35%
Max Drawdown (10Y) Largest decline over 10 years	-42.89%	-22.33%	-20.56%
Current Drawdown Current decline from peak	-0.97%	0.00%	-0.97%
Average Drawdown Average peak-to-trough decline	-7.93%	-2.46%	-5.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.60%	1.54%	+1.06%

Volatility

SPSM vs. RLBGX - Volatility Comparison

SPDR Portfolio S&P 600 Small Cap ETF (SPSM) has a higher volatility of 4.44% compared to American Funds American Balanced Fund Class R-6 (RLBGX) at 2.64%. This indicates that SPSM's price experiences larger fluctuations and is considered to be riskier than RLBGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPSM	RLBGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.44%	2.64%	+1.80%
Volatility (6M) Calculated over the trailing 6-month period	11.64%	6.84%	+4.80%
Volatility (1Y) Calculated over the trailing 1-year period	17.47%	8.69%	+8.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.43%	10.49%	+10.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.99%	10.67%	+12.32%

SPSM vs. RLBGX - Expense Ratio Comparison

SPSM has a 0.05% expense ratio, which is lower than RLBGX's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SPSM vs. RLBGX - Dividend Comparison

SPSM's dividend yield for the trailing twelve months is around 1.43%, less than RLBGX's 7.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RLBGX American Funds American Balanced Fund Class R-6	7.81%	8.56%	7.50%	2.27%	2.63%	4.59%	4.65%	3.78%	5.81%	4.92%	4.54%	5.91%
SPSM SPDR Portfolio S&P 600 Small Cap ETF	1.43%	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

Can I hold both SPSM and RLBGX in my portfolio?

SPSM and RLBGX 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, SPSM or RLBGX?

SPSM has higher volatility (4.44%) compared to RLBGX (2.64%). In terms of maximum drawdown, SPSM dropped -42.89% vs RLBGX's -22.33%.

Which has better risk-adjusted returns?

RLBGX currently has the higher Sharpe Ratio (2.99 vs 1.82), 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.