VB vs. SMMV

Last updated Aug 4, 2026

VB (Vanguard Small-Cap ETF) and SMMV (iShares MSCI USA Small-Cap Min Vol Factor ETF) are both Small Cap Blend Equities funds - VB tracks the CRSP US Small Cap Index while SMMV tracks the MSCI USA Small Cap Minimum Volatility (USD) Index. Both are passively managed. Over the past 5 years, VB returned 7.95%/yr vs 6.54%/yr for SMMV. Their correlation of 0.85 means they have usually moved in the same direction. VB charges 0.03%/yr vs 0.20%/yr for SMMV.

Performance

VB vs. SMMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Small-Cap ETF (VB) and iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VB achieves a 16.95% return, which is significantly higher than SMMV's 9.82% return.

VB

• 1D: 1.52%
• 1M: -0.23%
• 6M: 11.01%
• YTD: 16.95%
• 1Y: 27.83%
• 3Y*: 15.29%
• 5Y*: 7.95%
• 10Y*: 11.04%
• ALL TIME*: 9.95%

SMMV

• 1D: 0.45%
• 1M: 1.01%
• 6M: 7.53%
• YTD: 9.82%
• 1Y: 16.62%
• 3Y*: 12.54%
• 5Y*: 6.54%
• 10Y*: —
• ALL TIME*: 8.75%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SMMV iShares MSCI USA Small-Cap Min Vol Factor ETF	$351.26K	$334.06K	$426.33K
VB Vanguard Small-Cap ETF	$124.44M	$120.08M	$165.69M

VB vs. SMMV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VB Vanguard Small-Cap ETF	16.95%	8.87%	14.17%	18.22%	-17.51%	17.57%	19.19%	27.34%	-9.34%	16.26%
SMMV iShares MSCI USA Small-Cap Min Vol Factor ETF	9.82%	6.42%	18.29%	5.63%	-10.00%	16.64%	-2.88%	24.21%	1.15%	14.31%

Correlation

The correlation between VB and SMMV is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.66
Correlation (3Y) Balances recent behavior with more history.	0.82
Correlation (5Y) Shows whether the relationship held over a longer period.	0.86
Correlation (All Time) Calculated using the full available price history since Sep 9, 2016	0.85

The correlation between VB and SMMV shifts across timeframes, from 0.66 (1 year) to 0.86 (5 years), reflecting how their relationship changes across market environments.

VB vs. SMMV - Sectors Allocation Comparison

Sectors	VB	SMMV
Industrials	19.9%	13.6%
Technology	17.9%	13.7%
Healthcare	12.5%	18.7%
Financial Services	12.4%	9.2%
Consumer Cyclical	11.6%	5.3%
Real Estate	7.9%	12.5%
Basic Materials	4.4%	1.6%
Energy	3.9%	5.2%
Consumer Defensive	3.3%	7.6%
Utilities	3.3%	7.5%
Communication Services	2.9%	5.1%

Return for Risk

VB vs. SMMV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VB

VB Risk / Return Rank: 77
VB Sharpe Ratio Rank: 74
VB Sortino Ratio Rank: 75
VB Omega Ratio Rank: 70
VB Calmar Ratio Rank: 83
VB Martin Ratio Rank: 83

SMMV

SMMV Risk / Return Rank: 69
SMMV Sharpe Ratio Rank: 72
SMMV Sortino Ratio Rank: 78
SMMV Omega Ratio Rank: 71
SMMV Calmar Ratio Rank: 66
SMMV Martin Ratio Rank: 59

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VB vs. SMMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap ETF (VB) and iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV). 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.

	VB	SMMV	Difference
Sharpe ratio: Return per unit of total volatility	1.70	1.72	-0.01
Sortino ratio: Return per unit of downside risk	2.45	2.62	-0.17
Omega ratio: Gain probability vs. loss probability	1.30	1.31	-0.01
Calmar ratio: Return relative to maximum drawdown	3.11	2.38	+0.73
Martin ratio: Return relative to average drawdown	11.36	7.32	+4.04

VB vs. SMMV - Sharpe Ratio Comparison

The current VB Sharpe Ratio is 1.70, which is comparable to the SMMV Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of VB and SMMV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VB vs. SMMV - Drawdown Comparison

The maximum VB drawdown since its inception was -59.56%, which is greater than SMMV's maximum drawdown of -38.77%. Use the drawdown chart below to compare losses from any high point for VB and SMMV.

Drawdown Indicators

	VB	SMMV	Difference
Max Drawdown Largest peak-to-trough decline	-59.56%	-38.77%	-20.79%
Max Drawdown (1Y) Largest decline over 1 year	-8.98%	-7.02%	-1.96%
Max Drawdown (3Y) Largest decline over 3 years	-25.36%	-13.68%	-11.68%
Max Drawdown (5Y) Largest decline over 5 years	-28.15%	-18.00%	-10.15%
Max Drawdown (10Y) Largest decline over 10 years	-42.05%	—	—
Current Drawdown Current decline from peak	-1.15%	-0.63%	-0.52%
Average Drawdown Average peak-to-trough decline	-8.39%	-5.03%	-3.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.46%	2.28%	+0.18%

Volatility

VB vs. SMMV - Volatility Comparison

Vanguard Small-Cap ETF (VB) has a higher volatility of 3.71% compared to iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV) at 2.67%. This indicates that VB's price experiences larger fluctuations and is considered to be riskier than SMMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VB	SMMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.71%	2.67%	+1.04%
Volatility (6M) Calculated over the trailing 6-month period	12.04%	6.99%	+5.05%
Volatility (1Y) Calculated over the trailing 1-year period	16.44%	9.73%	+6.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.71%	13.45%	+7.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.38%	15.61%	+5.77%

VB vs. SMMV - Expense Ratio Comparison

VB has a 0.03% expense ratio, which is lower than SMMV's 0.20% 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

VB vs. SMMV - Dividend Comparison

VB's dividend yield for the trailing twelve months is around 1.20%, less than SMMV's 1.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SMMV iShares MSCI USA Small-Cap Min Vol Factor ETF	1.65%	1.77%	1.76%	2.30%	1.67%	1.08%	1.39%	1.64%	1.72%	1.63%	0.79%	0.00%
VB Vanguard Small-Cap ETF	1.20%	1.33%	1.30%	1.55%	1.59%	1.24%	1.14%	1.39%	1.67%	1.35%	1.50%	1.48%

Frequently Asked Questions

Can I hold both VB and SMMV in my portfolio?

VB and SMMV have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VB or SMMV?

VB has higher volatility (3.71%) compared to SMMV (2.67%). In terms of maximum drawdown, VB dropped -59.56% vs SMMV's -38.77%.

Which ETF is better, VB or SMMV?

On 5-year performance, VB leads with 7.95% vs 6.54% for SMMV. On fees, VB is cheaper at 0.03% per year. On volatility, SMMV has been the lower-risk option at 2.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VB or SMMV?

Over the 5-year period, VB has performed better with a 7.95% return vs 6.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VB or SMMV?

VB is cheaper with a 0.03% expense ratio, compared with 0.20% for SMMV.

Which ETF pays a higher dividend yield, VB or SMMV?

SMMV has the higher dividend yield at 1.65%, compared with 1.20% for VB.

What is the main difference between VB and SMMV?

VB tracks CRSP US Small Cap Index, while SMMV tracks MSCI USA Small Cap Minimum Volatility (USD) Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.03% for VB and 0.20% for SMMV.

Which has better risk-adjusted returns?

SMMV currently has the higher Sharpe Ratio (1.72 vs 1.70), 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.