VB vs. VSMAX
Compare and contrast key facts about Vanguard Small-Cap ETF (VB) and Vanguard Small-Cap Index Fund Admiral Shares (VSMAX).
VB is a passively managed fund by Vanguard that tracks the performance of the CRSP US Small Cap. It was launched on Jan 26, 2004. VSMAX is managed by Vanguard. It was launched on Nov 13, 2000.
Performance
VB vs. VSMAX - Performance Comparison
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VB vs. VSMAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VB Vanguard Small-Cap ETF | 1.92% | 8.87% | 14.17% | 18.22% | -17.51% | 17.57% | 19.19% | 27.34% | -9.34% | 16.26% |
VSMAX Vanguard Small-Cap Index Fund Admiral Shares | -1.21% | 8.83% | 14.23% | 18.17% | -17.61% | 17.74% | 19.06% | 27.36% | -9.33% | 16.24% |
Returns By Period
In the year-to-date period, VB achieves a 1.92% return, which is significantly higher than VSMAX's -1.21% return. Both investments have delivered pretty close results over the past 10 years, with VB having a 10.51% annualized return and VSMAX not far behind at 10.15%.
VB
- 1D
- 3.18%
- 1M
- -5.13%
- YTD
- 1.92%
- 6M
- 3.76%
- 1Y
- 19.75%
- 3Y*
- 13.04%
- 5Y*
- 5.35%
- 10Y*
- 10.51%
VSMAX
- 1D
- -0.98%
- 1M
- -8.09%
- YTD
- -1.21%
- 6M
- 0.58%
- 1Y
- 16.07%
- 3Y*
- 11.85%
- 5Y*
- 5.02%
- 10Y*
- 10.15%
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VB vs. VSMAX - Expense Ratio Comparison
Both VB and VSMAX have an expense ratio of 0.05%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Return for Risk
VB vs. VSMAX — Risk / Return Rank
VB
VSMAX
VB vs. VSMAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap ETF (VB) and Vanguard Small-Cap Index Fund Admiral Shares (VSMAX). 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.
| VB | VSMAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.91 | 0.75 | +0.16 |
Sortino ratioReturn per unit of downside risk | 1.41 | 1.19 | +0.22 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.16 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 1.39 | 0.97 | +0.42 |
Martin ratioReturn relative to average drawdown | 5.97 | 4.20 | +1.77 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VB | VSMAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 0.75 | +0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.26 | 0.24 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.49 | 0.47 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.37 | +0.05 |
Correlation
The correlation between VB and VSMAX is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
VB vs. VSMAX - Dividend Comparison
VB's dividend yield for the trailing twelve months is around 1.34%, less than VSMAX's 1.38% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VB Vanguard Small-Cap ETF | 1.34% | 1.33% | 1.30% | 1.55% | 1.59% | 1.24% | 1.14% | 1.39% | 1.67% | 1.35% | 1.50% | 1.48% |
VSMAX Vanguard Small-Cap Index Fund Admiral Shares | 1.38% | 1.33% | 1.30% | 1.56% | 1.54% | 1.24% | 1.14% | 1.39% | 1.67% | 1.35% | 1.49% | 1.48% |
Drawdowns
VB vs. VSMAX - Drawdown Comparison
The maximum VB drawdown since its inception was -59.56%, roughly equal to the maximum VSMAX drawdown of -59.68%. Use the drawdown chart below to compare losses from any high point for VB and VSMAX.
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Drawdown Indicators
| VB | VSMAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.56% | -59.68% | +0.12% |
Max Drawdown (1Y)Largest decline over 1 year | -14.29% | -14.30% | +0.01% |
Max Drawdown (5Y)Largest decline over 5 years | -28.15% | -28.14% | -0.01% |
Max Drawdown (10Y)Largest decline over 10 years | -42.05% | -41.82% | -0.23% |
Current DrawdownCurrent decline from peak | -6.08% | -8.97% | +2.89% |
Average DrawdownAverage peak-to-trough decline | -8.49% | -9.75% | +1.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.32% | 3.30% | +0.02% |
Volatility
VB vs. VSMAX - Volatility Comparison
Vanguard Small-Cap ETF (VB) has a higher volatility of 6.84% compared to Vanguard Small-Cap Index Fund Admiral Shares (VSMAX) at 5.91%. This indicates that VB's price experiences larger fluctuations and is considered to be riskier than VSMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VB | VSMAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.84% | 5.91% | +0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 12.60% | 12.22% | +0.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.86% | 21.62% | +0.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.78% | 20.69% | +0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.40% | 21.52% | -0.12% |