VIOO vs. SLYV

Last updated Jun 9, 2026

VIOO (Vanguard S&P Small-Cap 600 ETF) and SLYV (SPDR S&P 600 Small Cap Value ETF) are both exchange-traded funds - VIOO is a Small Cap Blend Equities fund tracking the S&P SmallCap 600 Index, while SLYV is a Small Cap Value Equities fund tracking the S&P SmallCap 600 Value Index. Both are passively managed. Over the past 10 years, VIOO returned 10.63%/yr vs 10.14%/yr for SLYV. With a 0.95 correlation, they move nearly in lockstep. VIOO charges 0.07%/yr vs 0.15%/yr for SLYV.

Performance

VIOO vs. SLYV - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with VIOO having a 15.44% return and SLYV slightly higher at 15.60%. Both investments have delivered pretty close results over the past 10 years, with VIOO having a 10.63% annualized return and SLYV not far behind at 10.14%.

VIOO

• 1D: 0.60%
• 1M: 0.16%
• YTD: 15.44%
• 6M: 15.12%
• 1Y: 30.51%
• 3Y*: 13.80%
• 5Y*: 5.39%
• 10Y*: 10.63%

SLYV

• 1D: 0.70%
• 1M: 0.99%
• YTD: 15.60%
• 6M: 15.97%
• 1Y: 36.39%
• 3Y*: 13.53%
• 5Y*: 5.44%
• 10Y*: 10.14%

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

VIOO vs. SLYV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VIOO Vanguard S&P Small-Cap 600 ETF	15.44%	6.04%	8.48%	16.16%	-16.26%	26.79%	11.47%	22.68%	-8.65%	13.16%
SLYV SPDR S&P 600 Small Cap Value ETF	15.60%	6.54%	7.28%	14.82%	-11.08%	30.57%	2.68%	24.26%	-12.77%	11.74%

Correlation

The correlation between VIOO and SLYV is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since Sep 10, 2010	0.95

The correlation between VIOO and SLYV has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.

VIOO vs. SLYV - Sectors Allocation Comparison

Sectors	VIOO	SLYV
Financial Services	16.9%	19.8%
Industrials	15.5%	11.6%
Technology	15.5%	11.3%
Consumer Cyclical	13.4%	15.9%
Healthcare	11.0%	7.5%
Real Estate	7.7%	8.7%
Energy	5.9%	7.6%
Basic Materials	5.1%	7.1%
Communication Services	3.6%	4.4%
Consumer Defensive	3.5%	3.8%
Utilities	2.0%	2.2%

Return for Risk

VIOO vs. SLYV — Risk / Return Rank

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

VIOO

VIOO Risk / Return Rank: 63
VIOO Sharpe Ratio Rank: 57
VIOO Sortino Ratio Rank: 60
VIOO Omega Ratio Rank: 53
VIOO Calmar Ratio Rank: 76
VIOO Martin Ratio Rank: 69

SLYV

SLYV Risk / Return Rank: 72
SLYV Sharpe Ratio Rank: 67
SLYV Sortino Ratio Rank: 71
SLYV Omega Ratio Rank: 63
SLYV Calmar Ratio Rank: 82
SLYV Martin Ratio Rank: 75

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. SLYV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Small-Cap 600 ETF (VIOO) and SPDR S&P 600 Small Cap Value ETF (SLYV). 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	SLYV	Difference
Sharpe ratio: Return per unit of total volatility	1.74	2.00	-0.26
Sortino ratio: Return per unit of downside risk	2.53	2.88	-0.35
Omega ratio: Gain probability vs. loss probability	1.30	1.34	-0.04
Calmar ratio: Return relative to maximum drawdown	3.49	3.91	-0.41
Martin ratio: Return relative to average drawdown	11.68	12.86	-1.18
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. SLYV - Sharpe Ratio Comparison

The current VIOO Sharpe Ratio is 1.74, which is comparable to the SLYV Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of VIOO and SLYV, 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	SLYV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.74	2.00	-0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	0.25	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.42	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.46	+0.11

Drawdowns

VIOO vs. SLYV - Drawdown Comparison

The maximum VIOO drawdown since its inception was -44.15%, smaller than the maximum SLYV drawdown of -61.15%. Use the drawdown chart below to compare losses from any high point for VIOO and SLYV.

Drawdown Indicators

	VIOO	SLYV	Difference
Max Drawdown Largest peak-to-trough decline	-44.15%	-61.15%	+17.00%
Max Drawdown (1Y) Largest decline over 1 year	-8.77%	-9.36%	+0.59%
Max Drawdown (3Y) Largest decline over 3 years	-27.93%	-28.68%	+0.75%
Max Drawdown (5Y) Largest decline over 5 years	-27.93%	-28.68%	+0.75%
Max Drawdown (10Y) Largest decline over 10 years	-44.15%	-47.73%	+3.58%
Current Drawdown Current decline from peak	-1.13%	-0.96%	-0.17%
Average Drawdown Average peak-to-trough decline	-7.33%	-8.94%	+1.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.62%	2.84%	-0.22%

Volatility

VIOO vs. SLYV - Volatility Comparison

Vanguard S&P Small-Cap 600 ETF (VIOO) and SPDR S&P 600 Small Cap Value ETF (SLYV) have volatilities of 4.63% and 4.72%, 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

	VIOO	SLYV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.63%	4.72%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	11.84%	11.59%	+0.25%
Volatility (1Y) Calculated over the trailing 1-year period	17.66%	18.30%	-0.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.41%	21.97%	-0.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.00%	23.97%	-0.97%

VIOO vs. SLYV - Expense Ratio Comparison

VIOO has a 0.07% expense ratio, which is lower than SLYV's 0.15% 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

VIOO vs. SLYV - Dividend Comparison

VIOO's dividend yield for the trailing twelve months is around 1.18%, less than SLYV's 1.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SLYV SPDR S&P 600 Small Cap Value ETF	1.81%	2.02%	2.30%	2.11%	1.47%	1.94%	1.40%	1.67%	2.14%	5.53%	2.18%	6.55%
VIOO Vanguard S&P Small-Cap 600 ETF	1.18%	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 SLYV in my portfolio?

With a correlation of 0.98, VIOO and SLYV 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, VIOO or SLYV?

SLYV has higher volatility (4.72%) compared to VIOO (4.63%). In terms of maximum drawdown, VIOO dropped -44.15% vs SLYV's -61.15%.

Which ETF is better, VIOO or SLYV?

On 10-year performance, VIOO leads with 10.63% vs 10.14% for SLYV. On fees, VIOO is cheaper at 0.07% 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, VIOO or SLYV?

Over the 10-year period, VIOO has performed better with a 10.63% return vs 10.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VIOO or SLYV?

VIOO is cheaper with a 0.07% expense ratio, compared with 0.15% for SLYV.

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

SLYV has the higher dividend yield at 1.81%, compared with 1.18% for VIOO.

What is the main difference between VIOO and SLYV?

VIOO is categorized as Small Cap Blend Equities, while SLYV is Small Cap Value Equities. VIOO tracks S&P SmallCap 600 Index, while SLYV tracks S&P SmallCap 600 Value Index. They also come from different issuers: Vanguard and State Street. Their fees differ too: 0.07% for VIOO and 0.15% for SLYV.

Which has better risk-adjusted returns?

SLYV currently has the higher Sharpe Ratio (2.00 vs 1.74), 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.