SVAL vs. USVM

Last updated Jun 4, 2026

SVAL (iShares US Small Cap Value Factor ETF) and USVM (VictoryShares US Small Mid Cap Value Momentum ETF) are both exchange-traded funds - SVAL is a Small Cap Value Equities fund tracking the Russell 2000 Focused Value Select Index, while USVM is a Momentum fund tracking the Nasdaq Victory US Small Mid Cap Value Momentum Index. Both are passively managed. Over the past 5 years, SVAL returned 6.47%/yr vs 9.74%/yr for USVM. Their correlation of 0.90 suggests significant overlap in exposure. SVAL charges 0.20%/yr vs 0.29%/yr for USVM.

Performance

SVAL vs. USVM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares US Small Cap Value Factor ETF (SVAL) and VictoryShares US Small Mid Cap Value Momentum ETF (USVM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with SVAL having a 15.99% return and USVM slightly lower at 15.26%.

SVAL

• 1D: -1.51%
• 1M: 2.08%
• YTD: 15.99%
• 6M: 15.39%
• 1Y: 34.88%
• 3Y*: 17.30%
• 5Y*: 6.47%
• 10Y*: —

USVM

• 1D: -0.40%
• 1M: 2.60%
• YTD: 15.26%
• 6M: 15.00%
• 1Y: 30.42%
• 3Y*: 19.79%
• 5Y*: 9.74%
• 10Y*: —

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

SVAL vs. USVM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SVAL iShares US Small Cap Value Factor ETF	15.99%	8.23%	7.54%	12.27%	-10.15%	33.18%	27.93%
USVM VictoryShares US Small Mid Cap Value Momentum ETF	15.26%	10.56%	16.59%	18.90%	-13.23%	24.44%	20.02%

Correlation

The correlation between SVAL and USVM is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since Oct 30, 2020	0.90

The correlation between SVAL and USVM has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.

SVAL vs. USVM - Sectors Allocation Comparison

Sectors	SVAL	USVM
Financial Services	23.7%	22.0%
Industrials	15.8%	12.1%
Consumer Cyclical	13.7%	11.1%
Technology	10.7%	11.6%
Healthcare	10.3%	11.0%
Energy	7.7%	4.4%
Basic Materials	6.1%	1.8%
Consumer Defensive	4.1%	5.0%
Utilities	3.3%	6.4%
Real Estate	2.7%	11.9%
Communication Services	1.8%	2.8%

Return for Risk

SVAL vs. USVM — Risk / Return Rank

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

SVAL

SVAL Risk / Return Rank: 64
SVAL Sharpe Ratio Rank: 57
SVAL Sortino Ratio Rank: 60
SVAL Omega Ratio Rank: 56
SVAL Calmar Ratio Rank: 77
SVAL Martin Ratio Rank: 67

USVM

USVM Risk / Return Rank: 65
USVM Sharpe Ratio Rank: 60
USVM Sortino Ratio Rank: 63
USVM Omega Ratio Rank: 57
USVM Calmar Ratio Rank: 73
USVM Martin Ratio Rank: 73

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.

SVAL vs. USVM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares US Small Cap Value Factor ETF (SVAL) and VictoryShares US Small Mid Cap Value Momentum ETF (USVM). 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.

	SVAL	USVM	Difference
Sharpe ratio: Return per unit of total volatility	1.97	2.05	-0.08
Sortino ratio: Return per unit of downside risk	2.88	2.98	-0.09
Omega ratio: Gain probability vs. loss probability	1.35	1.36	-0.01
Calmar ratio: Return relative to maximum drawdown	3.92	3.66	+0.26
Martin ratio: Return relative to average drawdown	12.29	13.76	-1.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SVAL vs. USVM - Sharpe Ratio Comparison

The current SVAL Sharpe Ratio is 1.97, which is comparable to the USVM Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of SVAL and USVM, 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

	SVAL	USVM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.97	2.05	-0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.29	0.50	-0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.49	+0.21

Drawdowns

SVAL vs. USVM - Drawdown Comparison

The maximum SVAL drawdown since its inception was -27.44%, smaller than the maximum USVM drawdown of -42.38%. Use the drawdown chart below to compare losses from any high point for SVAL and USVM.

Drawdown Indicators

	SVAL	USVM	Difference
Max Drawdown Largest peak-to-trough decline	-27.44%	-42.38%	+14.94%
Max Drawdown (1Y) Largest decline over 1 year	-8.94%	-8.36%	-0.58%
Max Drawdown (3Y) Largest decline over 3 years	-27.44%	-24.34%	-3.10%
Max Drawdown (5Y) Largest decline over 5 years	-27.44%	-25.27%	-2.17%
Current Drawdown Current decline from peak	-1.51%	-0.57%	-0.94%
Average Drawdown Average peak-to-trough decline	-8.51%	-7.90%	-0.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.85%	2.22%	+0.63%

Volatility

SVAL vs. USVM - Volatility Comparison

iShares US Small Cap Value Factor ETF (SVAL) and VictoryShares US Small Mid Cap Value Momentum ETF (USVM) have volatilities of 4.31% and 4.50%, 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

	SVAL	USVM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.31%	4.50%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	11.62%	10.73%	+0.89%
Volatility (1Y) Calculated over the trailing 1-year period	17.87%	14.93%	+2.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.33%	19.65%	+2.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.27%	22.01%	+1.26%

SVAL vs. USVM - Expense Ratio Comparison

SVAL has a 0.20% expense ratio, which is lower than USVM's 0.29% expense ratio.

Dividends

SVAL vs. USVM - Dividend Comparison

SVAL's dividend yield for the trailing twelve months is around 2.27%, more than USVM's 1.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
SVAL iShares US Small Cap Value Factor ETF	2.27%	2.33%	1.82%	2.25%	2.09%	2.33%	0.28%	0.00%	0.00%	0.00%
USVM VictoryShares US Small Mid Cap Value Momentum ETF	1.76%	1.84%	1.75%	1.63%	1.43%	0.70%	1.21%	1.77%	1.43%	0.65%

Frequently Asked Questions

Can I hold both SVAL and USVM in my portfolio?

With a correlation of 0.92, SVAL and USVM move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SVAL or USVM?

USVM has higher volatility (4.50%) compared to SVAL (4.31%). In terms of maximum drawdown, SVAL dropped -27.44% vs USVM's -42.38%.

Which ETF is better, SVAL or USVM?

On 5-year performance, USVM leads with 9.74% vs 6.47% for SVAL. On fees, SVAL is cheaper at 0.20% per year. On volatility, SVAL has been the lower-risk option at 4.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SVAL or USVM?

Over the 5-year period, USVM has performed better with a 9.74% return vs 6.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SVAL or USVM?

SVAL is cheaper with a 0.20% expense ratio, compared with 0.29% for USVM.

Which ETF pays a higher dividend yield, SVAL or USVM?

SVAL has the higher dividend yield at 2.27%, compared with 1.76% for USVM.

What is the main difference between SVAL and USVM?

SVAL is categorized as Small Cap Value Equities, while USVM is Momentum. SVAL tracks Russell 2000 Focused Value Select Index, while USVM tracks Nasdaq Victory US Small Mid Cap Value Momentum Index. They also come from different issuers: iShares and Victory Capital. Their fees differ too: 0.20% for SVAL and 0.29% for USVM.

Which has better risk-adjusted returns?

USVM currently has the higher Sharpe Ratio (2.05 vs 1.97), 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.