VSMAX vs. VOO
Compare and contrast key facts about Vanguard Small-Cap Index Fund Admiral Shares (VSMAX) and Vanguard S&P 500 ETF (VOO).
VSMAX is managed by Vanguard. It was launched on Nov 13, 2000. VOO is a passively managed fund by Vanguard that tracks the performance of the S&P 500 Index. It was launched on Sep 7, 2010.
Performance
VSMAX vs. VOO - Performance Comparison
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VSMAX vs. VOO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VSMAX Vanguard Small-Cap Index Fund Admiral Shares | 1.90% | 8.83% | 14.23% | 18.17% | -17.61% | 17.74% | 19.06% | 27.36% | -9.33% | 16.24% |
VOO Vanguard S&P 500 ETF | -3.66% | 17.82% | 24.98% | 26.32% | -18.17% | 28.79% | 18.32% | 31.37% | -4.50% | 21.77% |
Returns By Period
In the year-to-date period, VSMAX achieves a 1.90% return, which is significantly higher than VOO's -3.66% return. Over the past 10 years, VSMAX has underperformed VOO with an annualized return of 10.49%, while VOO has yielded a comparatively higher 14.14% annualized return.
VSMAX
- 1D
- 3.15%
- 1M
- -5.71%
- YTD
- 1.90%
- 6M
- 3.41%
- 1Y
- 19.29%
- 3Y*
- 13.01%
- 5Y*
- 5.34%
- 10Y*
- 10.49%
VOO
- 1D
- 0.79%
- 1M
- -4.29%
- YTD
- -3.66%
- 6M
- -1.41%
- 1Y
- 18.17%
- 3Y*
- 18.58%
- 5Y*
- 11.93%
- 10Y*
- 14.14%
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VSMAX vs. VOO - Expense Ratio Comparison
VSMAX has a 0.05% expense ratio, which is higher than VOO's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
VSMAX vs. VOO — Risk / Return Rank
VSMAX
VOO
VSMAX vs. VOO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap Index Fund Admiral Shares (VSMAX) and Vanguard S&P 500 ETF (VOO). 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.
| VSMAX | VOO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.91 | 1.01 | -0.10 |
Sortino ratioReturn per unit of downside risk | 1.40 | 1.53 | -0.13 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.23 | -0.04 |
Calmar ratioReturn relative to maximum drawdown | 1.38 | 1.55 | -0.17 |
Martin ratioReturn relative to average drawdown | 5.95 | 7.31 | -1.36 |
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
| VSMAX | VOO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 1.01 | -0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.26 | 0.71 | -0.45 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.49 | 0.79 | -0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.83 | -0.46 |
Correlation
The correlation between VSMAX and VOO is 0.87, 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
VSMAX vs. VOO - Dividend Comparison
VSMAX's dividend yield for the trailing twelve months is around 1.33%, more than VOO's 1.18% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VSMAX Vanguard Small-Cap Index Fund Admiral Shares | 1.33% | 1.33% | 1.30% | 1.56% | 1.54% | 1.24% | 1.14% | 1.39% | 1.67% | 1.35% | 1.49% | 1.48% |
VOO Vanguard S&P 500 ETF | 1.18% | 1.13% | 1.24% | 1.46% | 1.69% | 1.25% | 1.54% | 1.88% | 2.06% | 1.78% | 2.02% | 2.10% |
Drawdowns
VSMAX vs. VOO - Drawdown Comparison
The maximum VSMAX drawdown since its inception was -59.68%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for VSMAX and VOO.
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Drawdown Indicators
| VSMAX | VOO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.68% | -33.99% | -25.69% |
Max Drawdown (1Y)Largest decline over 1 year | -14.30% | -11.98% | -2.32% |
Max Drawdown (5Y)Largest decline over 5 years | -28.14% | -24.52% | -3.62% |
Max Drawdown (10Y)Largest decline over 10 years | -41.82% | -33.99% | -7.83% |
Current DrawdownCurrent decline from peak | -6.11% | -5.55% | -0.56% |
Average DrawdownAverage peak-to-trough decline | -9.75% | -3.72% | -6.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.32% | 2.55% | +0.77% |
Volatility
VSMAX vs. VOO - Volatility Comparison
Vanguard Small-Cap Index Fund Admiral Shares (VSMAX) has a higher volatility of 6.82% compared to Vanguard S&P 500 ETF (VOO) at 5.34%. This indicates that VSMAX's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VSMAX | VOO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.82% | 5.34% | +1.48% |
Volatility (6M)Calculated over the trailing 6-month period | 12.61% | 9.47% | +3.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.80% | 18.11% | +3.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.74% | 16.82% | +3.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.54% | 17.99% | +3.55% |