VIOV vs. USSC.L

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard S&P Small-Cap 600 Value ETF (VIOV) and SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.L).

VIOV and USSC.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VIOV is a passively managed fund by Vanguard that tracks the performance of the S&P SmallCap 600 Value Index. It was launched on Sep 7, 2010. USSC.L is a passively managed fund by State Street that tracks the performance of the MSCI USA Small Cap Value Weighted Index. It was launched on Feb 18, 2015. Both VIOV and USSC.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

VIOV vs. USSC.L - Performance Comparison

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

VIOV vs. USSC.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VIOV Vanguard S&P Small-Cap 600 Value ETF	4.51%	6.63%	7.44%	15.36%	-11.37%	30.67%	2.81%	24.44%	-12.85%	11.54%
USSC.L SPDR MSCI USA Small Cap Value Weighted UCITS ETF	2.77%	14.73%	8.33%	23.17%	-10.14%	35.22%	8.76%	23.19%	-15.30%	9.79%

Returns By Period

In the year-to-date period, VIOV achieves a 4.51% return, which is significantly higher than USSC.L's 2.77% return. Over the past 10 years, VIOV has underperformed USSC.L with an annualized return of 9.51%, while USSC.L has yielded a comparatively higher 11.38% annualized return.

VIOV

• 1D: 2.29%
• 1M: -3.16%
• YTD: 4.51%
• 6M: 7.88%
• 1Y: 23.53%
• 3Y*: 10.24%
• 5Y*: 4.95%
• 10Y*: 9.51%

USSC.L

• 1D: 0.20%
• 1M: -4.51%
• YTD: 2.77%
• 6M: 8.22%
• 1Y: 26.73%
• 3Y*: 15.59%
• 5Y*: 8.98%
• 10Y*: 11.38%

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

VIOV vs. USSC.L - Expense Ratio Comparison

VIOV has a 0.10% expense ratio, which is lower than USSC.L's 0.30% expense ratio.

USSC.L

SPDR MSCI USA Small Cap Value Weighted UCITS ETF

VIOV

Vanguard S&P Small-Cap 600 Value ETF

Return for Risk

VIOV vs. USSC.L — Risk / Return Rank

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

VIOV

VIOV Risk / Return Rank: 62
VIOV Sharpe Ratio Rank: 60
VIOV Sortino Ratio Rank: 63
VIOV Omega Ratio Rank: 57
VIOV Calmar Ratio Rank: 65
VIOV Martin Ratio Rank: 63

USSC.L

USSC.L Risk / Return Rank: 72
USSC.L Sharpe Ratio Rank: 75
USSC.L Sortino Ratio Rank: 75
USSC.L Omega Ratio Rank: 70
USSC.L Calmar Ratio Rank: 68
USSC.L Martin Ratio Rank: 72

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.

VIOV vs. USSC.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Small-Cap 600 Value ETF (VIOV) and SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.L). 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.

	VIOV	USSC.L	Difference
Sharpe ratio Return per unit of total volatility	1.00	1.31	-0.31
Sortino ratio Return per unit of downside risk	1.52	1.84	-0.32
Omega ratio Gain probability vs. loss probability	1.20	1.25	-0.05
Calmar ratio Return relative to maximum drawdown	1.55	1.67	-0.12
Martin ratio Return relative to average drawdown	5.79	7.14	-1.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VIOV vs. USSC.L - Sharpe Ratio Comparison

The current VIOV Sharpe Ratio is 1.00, which is comparable to the USSC.L Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of VIOV and USSC.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VIOV	USSC.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.00	1.31	-0.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	0.41	-0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	0.50	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.41	+0.09

Correlation

The correlation between VIOV and USSC.L is 0.65, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

VIOV vs. USSC.L - Dividend Comparison

VIOV's dividend yield for the trailing twelve months is around 1.76%, while USSC.L has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VIOV Vanguard S&P Small-Cap 600 Value ETF	1.76%	1.69%	1.78%	2.18%	1.81%	1.59%	1.42%	1.60%	1.76%	1.43%	1.17%	1.32%
USSC.L SPDR MSCI USA Small Cap Value Weighted UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

VIOV vs. USSC.L - Drawdown Comparison

The maximum VIOV drawdown since its inception was -47.36%, roughly equal to the maximum USSC.L drawdown of -48.99%. Use the drawdown chart below to compare losses from any high point for VIOV and USSC.L.

Drawdown Indicators

	VIOV	USSC.L	Difference
Max Drawdown Largest peak-to-trough decline	-47.36%	-48.99%	+1.63%
Max Drawdown (1Y) Largest decline over 1 year	-15.50%	-15.32%	-0.18%
Max Drawdown (5Y) Largest decline over 5 years	-28.44%	-27.47%	-0.97%
Max Drawdown (10Y) Largest decline over 10 years	-47.36%	-48.99%	+1.63%
Current Drawdown Current decline from peak	-6.21%	-6.42%	+0.21%
Average Drawdown Average peak-to-trough decline	-7.45%	-7.80%	+0.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.14%	3.59%	+0.55%

Volatility

VIOV vs. USSC.L - Volatility Comparison

Vanguard S&P Small-Cap 600 Value ETF (VIOV) has a higher volatility of 5.42% compared to SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.L) at 5.14%. This indicates that VIOV's price experiences larger fluctuations and is considered to be riskier than USSC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VIOV	USSC.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.42%	5.14%	+0.28%
Volatility (6M) Calculated over the trailing 6-month period	13.56%	11.10%	+2.46%
Volatility (1Y) Calculated over the trailing 1-year period	23.66%	20.31%	+3.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.11%	21.81%	+0.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.90%	22.82%	+1.08%