SPYM vs. VBR

Last updated Jun 9, 2026

SPYM (State Street SPDR Portfolio S&P 500 ETF) and VBR (Vanguard Small-Cap Value ETF) are both exchange-traded funds - SPYM is a S&P 500 fund tracking the S&P 500 Index, while VBR is a Small Cap Value Equities fund tracking the CRSP US Small Cap Value Index. Both are passively managed. Over the past 10 years, SPYM returned 15.40%/yr vs 10.50%/yr for VBR. A 0.75 correlation means they provide meaningful diversification when combined. SPYM charges 0.02%/yr vs 0.05%/yr for VBR.

Performance

SPYM vs. VBR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR Portfolio S&P 500 ETF (SPYM) and Vanguard Small-Cap Value ETF (VBR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPYM achieves a 8.75% return, which is significantly lower than VBR's 11.45% return. Over the past 10 years, SPYM has outperformed VBR with an annualized return of 15.40%, while VBR has yielded a comparatively lower 10.50% annualized return.

SPYM

• 1D: 0.24%
• 1M: 0.23%
• YTD: 8.75%
• 6M: 8.78%
• 1Y: 24.91%
• 3Y*: 21.46%
• 5Y*: 13.50%
• 10Y*: 15.40%

VBR

• 1D: 0.16%
• 1M: 0.48%
• YTD: 11.45%
• 6M: 12.14%
• 1Y: 24.85%
• 3Y*: 15.60%
• 5Y*: 7.78%
• 10Y*: 10.50%

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

SPYM vs. VBR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPYM State Street SPDR Portfolio S&P 500 ETF	8.75%	17.79%	25.00%	26.24%	-18.09%	28.78%	18.49%	31.99%	-4.78%	21.30%
VBR Vanguard Small-Cap Value ETF	11.45%	9.09%	12.40%	16.00%	-9.38%	28.08%	5.90%	22.78%	-12.28%	11.81%

Correlation

The correlation between SPYM and VBR is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Nov 16, 2005	0.75

The correlation between SPYM and VBR shifts across timeframes, from 0.69 (1 year) to 0.79 (5 years), reflecting how their relationship changes across market environments.

SPYM vs. VBR - Sectors Allocation Comparison

Sectors	SPYM	VBR
Technology	38.5%	10.6%
Financial Services	11.1%	17.6%
Communication Services	10.6%	2.5%
Consumer Cyclical	9.9%	12.4%
Healthcare	8.4%	7.9%
Industrials	7.6%	18.1%
Consumer Defensive	4.6%	4.0%
Energy	3.2%	5.2%
Utilities	2.5%	4.8%
Real Estate	1.8%	10.1%
Basic Materials	1.7%	6.3%

Return for Risk

SPYM vs. VBR — Risk / Return Rank

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

SPYM

SPYM Risk / Return Rank: 69
SPYM Sharpe Ratio Rank: 71
SPYM Sortino Ratio Rank: 68
SPYM Omega Ratio Rank: 71
SPYM Calmar Ratio Rank: 62
SPYM Martin Ratio Rank: 75

VBR

VBR Risk / Return Rank: 57
VBR Sharpe Ratio Rank: 53
VBR Sortino Ratio Rank: 56
VBR Omega Ratio Rank: 51
VBR Calmar Ratio Rank: 62
VBR Martin Ratio Rank: 61

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.

SPYM vs. VBR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Portfolio S&P 500 ETF (SPYM) and Vanguard Small-Cap Value ETF (VBR). 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.

	SPYM	VBR	Difference
Sharpe ratio: Return per unit of total volatility	2.08	1.65	+0.43
Sortino ratio: Return per unit of downside risk	2.80	2.43	+0.37
Omega ratio: Gain probability vs. loss probability	1.38	1.29	+0.09
Calmar ratio: Return relative to maximum drawdown	2.81	2.82	-0.01
Martin ratio: Return relative to average drawdown	12.97	9.94	+3.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPYM vs. VBR - Sharpe Ratio Comparison

The current SPYM Sharpe Ratio is 2.08, which is comparable to the VBR Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of SPYM and VBR, 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

	SPYM	VBR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.08	1.65	+0.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	0.40	+0.41
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.86	0.49	+0.37
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.42	+0.19

Drawdowns

SPYM vs. VBR - Drawdown Comparison

The maximum SPYM drawdown since its inception was -54.46%, smaller than the maximum VBR drawdown of -61.98%. Use the drawdown chart below to compare losses from any high point for SPYM and VBR.

Drawdown Indicators

	SPYM	VBR	Difference
Max Drawdown Largest peak-to-trough decline	-54.46%	-61.98%	+7.52%
Max Drawdown (1Y) Largest decline over 1 year	-8.90%	-8.85%	-0.05%
Max Drawdown (3Y) Largest decline over 3 years	-18.72%	-24.19%	+5.47%
Max Drawdown (5Y) Largest decline over 5 years	-24.48%	-24.19%	-0.29%
Max Drawdown (10Y) Largest decline over 10 years	-33.87%	-45.28%	+11.41%
Current Drawdown Current decline from peak	-2.66%	-0.95%	-1.71%
Average Drawdown Average peak-to-trough decline	-7.15%	-8.26%	+1.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	2.51%	-0.59%

Volatility

SPYM vs. VBR - Volatility Comparison

State Street SPDR Portfolio S&P 500 ETF (SPYM) and Vanguard Small-Cap Value ETF (VBR) have volatilities of 3.72% and 3.67%, 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

	SPYM	VBR	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.72%	3.67%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	9.30%	10.49%	-1.19%
Volatility (1Y) Calculated over the trailing 1-year period	12.07%	15.16%	-3.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.84%	19.77%	-2.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.02%	21.74%	-3.72%

SPYM vs. VBR - Expense Ratio Comparison

SPYM has a 0.02% expense ratio, which is lower than VBR's 0.05% 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

SPYM vs. VBR - Dividend Comparison

SPYM's dividend yield for the trailing twelve months is around 1.02%, less than VBR's 1.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPYM State Street SPDR Portfolio S&P 500 ETF	1.02%	1.13%	1.28%	1.44%	1.69%	1.25%	1.54%	1.79%	2.23%	1.75%	1.97%	1.98%
VBR Vanguard Small-Cap Value ETF	1.76%	1.95%	1.98%	2.12%	2.03%	1.75%	1.68%	2.06%	2.35%	1.79%	1.77%	1.99%

Frequently Asked Questions

Can I hold both SPYM and VBR in my portfolio?

SPYM and VBR have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPYM or VBR?

SPYM has higher volatility (3.72%) compared to VBR (3.67%). In terms of maximum drawdown, SPYM dropped -54.46% vs VBR's -61.98%.

Which ETF is better, SPYM or VBR?

On 10-year performance, SPYM leads with 15.40% vs 10.50% for VBR. On fees, SPYM is cheaper at 0.02% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPYM or VBR?

Over the 10-year period, SPYM has performed better with a 15.40% return vs 10.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPYM or VBR?

SPYM is cheaper with a 0.02% expense ratio, compared with 0.05% for VBR.

Which ETF pays a higher dividend yield, SPYM or VBR?

VBR has the higher dividend yield at 1.76%, compared with 1.02% for SPYM.

What is the main difference between SPYM and VBR?

SPYM is categorized as S&P 500, while VBR is Small Cap Value Equities. SPYM tracks S&P 500 Index, while VBR tracks CRSP US Small Cap Value Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.02% for SPYM and 0.05% for VBR.

Which has better risk-adjusted returns?

SPYM currently has the higher Sharpe Ratio (2.08 vs 1.65), 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.