VIOO vs. OUSM

Last updated Jun 3, 2026

VIOO (Vanguard S&P Small-Cap 600 ETF) and OUSM (OShares U.S. Small-Cap Quality Dividend ETF) are both Small Cap Blend Equities funds - VIOO tracks the S&P SmallCap 600 Index while OUSM tracks the O'Shares US Small-Cap Quality Dividend Index. Both are passively managed. Over the past 5 years, VIOO returned 5.91%/yr vs 7.50%/yr for OUSM. Their correlation of 0.92 suggests significant overlap in exposure. VIOO charges 0.10%/yr vs 0.48%/yr for OUSM.

Performance

VIOO vs. OUSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard S&P Small-Cap 600 ETF (VIOO) and OShares U.S. Small-Cap Quality Dividend ETF (OUSM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VIOO achieves a 16.37% return, which is significantly higher than OUSM's 6.87% return.

VIOO

• 1D: 0.91%
• 1M: 1.63%
• YTD: 16.37%
• 6M: 16.85%
• 1Y: 34.98%
• 3Y*: 14.74%
• 5Y*: 5.91%
• 10Y*: 10.77%

OUSM

• 1D: 0.65%
• 1M: 0.72%
• YTD: 6.87%
• 6M: 7.92%
• 1Y: 12.01%
• 3Y*: 11.73%
• 5Y*: 7.50%
• 10Y*: —

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

VIOO vs. OUSM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VIOO Vanguard S&P Small-Cap 600 ETF	16.37%	6.04%	8.48%	16.16%	-16.26%	26.79%	11.47%	22.68%	-8.65%	13.16%
OUSM OShares U.S. Small-Cap Quality Dividend ETF	6.87%	2.17%	13.45%	18.82%	-7.89%	21.45%	7.64%	28.04%	-10.60%	10.85%

Correlation

The correlation between VIOO and OUSM is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.92

The correlation between VIOO and OUSM has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.

VIOO vs. OUSM - Sectors Allocation Comparison

Sectors	VIOO	OUSM
Financial Services	16.9%	21.1%
Industrials	15.5%	22.8%
Technology	15.5%	13.5%
Consumer Cyclical	13.4%	19.3%
Healthcare	11.0%	9.2%
Real Estate	7.7%	-
Energy	5.9%	0.3%
Basic Materials	5.1%	1.4%
Communication Services	3.6%	3.8%
Consumer Defensive	3.5%	4.9%
Utilities	2.0%	3.9%

Return for Risk

VIOO vs. OUSM — Risk / Return Rank

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

VIOO

VIOO Risk / Return Rank: 64
VIOO Sharpe Ratio Rank: 58
VIOO Sortino Ratio Rank: 61
VIOO Omega Ratio Rank: 55
VIOO Calmar Ratio Rank: 76
VIOO Martin Ratio Rank: 70

OUSM

OUSM Risk / Return Rank: 26
OUSM Sharpe Ratio Rank: 26
OUSM Sortino Ratio Rank: 27
OUSM Omega Ratio Rank: 24
OUSM Calmar Ratio Rank: 26
OUSM Martin Ratio Rank: 26

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.

VIOO vs. OUSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Small-Cap 600 ETF (VIOO) and OShares U.S. Small-Cap Quality Dividend ETF (OUSM). 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.

	VIOO	OUSM	Difference
Sharpe ratio Return per unit of total volatility	2.00	0.92	+1.08
Sortino ratio Return per unit of downside risk	2.88	1.46	+1.42
Omega ratio Gain probability vs. loss probability	1.34	1.16	+0.18
Calmar ratio Return relative to maximum drawdown	3.93	1.26	+2.67
Martin ratio Return relative to average drawdown	13.17	3.68	+9.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VIOO vs. OUSM - Sharpe Ratio Comparison

The current VIOO Sharpe Ratio is 2.00, which is higher than the OUSM Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of VIOO and OUSM, 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

	VIOO	OUSM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.00	0.92	+1.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	0.46	-0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.48	+0.10

Drawdowns

VIOO vs. OUSM - Drawdown Comparison

The maximum VIOO drawdown since its inception was -44.15%, which is greater than OUSM's maximum drawdown of -39.84%. Use the drawdown chart below to compare losses from any high point for VIOO and OUSM.

Drawdown Indicators

	VIOO	OUSM	Difference
Max Drawdown Largest peak-to-trough decline	-44.15%	-39.84%	-4.31%
Max Drawdown (1Y) Largest decline over 1 year	-8.77%	-9.21%	+0.44%
Max Drawdown (3Y) Largest decline over 3 years	-27.93%	-19.44%	-8.49%
Max Drawdown (5Y) Largest decline over 5 years	-27.93%	-19.44%	-8.49%
Max Drawdown (10Y) Largest decline over 10 years	-44.15%	—	—
Current Drawdown Current decline from peak	-0.01%	-1.60%	+1.59%
Average Drawdown Average peak-to-trough decline	-7.34%	-5.22%	-2.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.62%	3.14%	-0.52%

Volatility

VIOO vs. OUSM - Volatility Comparison

Vanguard S&P Small-Cap 600 ETF (VIOO) has a higher volatility of 4.40% compared to OShares U.S. Small-Cap Quality Dividend ETF (OUSM) at 3.82%. This indicates that VIOO's price experiences larger fluctuations and is considered to be riskier than OUSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VIOO	OUSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.40%	3.82%	+0.58%
Volatility (6M) Calculated over the trailing 6-month period	11.69%	9.27%	+2.42%
Volatility (1Y) Calculated over the trailing 1-year period	17.57%	13.16%	+4.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.40%	16.30%	+5.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.99%	18.94%	+4.05%

VIOO vs. OUSM - Expense Ratio Comparison

VIOO has a 0.10% expense ratio, which is lower than OUSM's 0.48% expense ratio.

Dividends

VIOO vs. OUSM - Dividend Comparison

VIOO's dividend yield for the trailing twelve months is around 1.17%, less than OUSM's 2.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OUSM OShares U.S. Small-Cap Quality Dividend ETF	2.07%	2.09%	1.62%	1.64%	1.98%	1.55%	2.02%	1.99%	2.63%	2.17%	0.00%	0.00%
VIOO Vanguard S&P Small-Cap 600 ETF	1.17%	1.36%	1.48%	1.47%	1.51%	1.16%	1.09%	1.37%	1.32%	1.11%	1.06%	1.26%

Frequently Asked Questions

Can I hold both VIOO and OUSM in my portfolio?

VIOO and OUSM have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VIOO or OUSM?

VIOO has higher volatility (4.40%) compared to OUSM (3.82%). In terms of maximum drawdown, VIOO dropped -44.15% vs OUSM's -39.84%.

Which ETF is better, VIOO or OUSM?

On 5-year performance, OUSM leads with 7.50% vs 5.91% for VIOO. On fees, VIOO is cheaper at 0.10% per year. On volatility, OUSM has been the lower-risk option at 3.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VIOO or OUSM?

Over the 5-year period, OUSM has performed better with a 7.50% return vs 5.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VIOO or OUSM?

VIOO is cheaper with a 0.10% expense ratio, compared with 0.48% for OUSM.

Which ETF pays a higher dividend yield, VIOO or OUSM?

OUSM has the higher dividend yield at 2.07%, compared with 1.17% for VIOO.

What is the main difference between VIOO and OUSM?

VIOO tracks S&P SmallCap 600 Index, while OUSM tracks O'Shares US Small-Cap Quality Dividend Index. They also come from different issuers: Vanguard and O'Shares Investments. Their fees differ too: 0.10% for VIOO and 0.48% for OUSM.

Which has better risk-adjusted returns?

VIOO currently has the higher Sharpe Ratio (2.00 vs 0.92), 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.