VSMSX vs. SPY
Compare and contrast key facts about Vanguard S&P Small-Cap 600 Index Fund Institutional Shares (VSMSX) and SPDR S&P 500 ETF (SPY).
VSMSX is managed by Vanguard. It was launched on Apr 1, 2011. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VSMSX or SPY.
Performance
VSMSX vs. SPY - Performance Comparison
Returns By Period
In the year-to-date period, VSMSX achieves a 12.99% return, which is significantly lower than SPY's 25.41% return. Over the past 10 years, VSMSX has underperformed SPY with an annualized return of 9.70%, while SPY has yielded a comparatively higher 13.07% annualized return.
VSMSX
12.99%
4.21%
11.49%
28.62%
10.35%
9.70%
SPY
25.41%
1.18%
12.15%
32.04%
15.51%
13.07%
Key characteristics
| VSMSX | SPY | |
|---|---|---|
| Sharpe Ratio | 1.36 | 2.62 |
| Sortino Ratio | 2.05 | 3.50 |
| Omega Ratio | 1.24 | 1.49 |
| Calmar Ratio | 1.49 | 3.78 |
| Martin Ratio | 7.67 | 17.00 |
| Ulcer Index | 3.53% | 1.87% |
| Daily Std Dev | 19.93% | 12.14% |
| Max Drawdown | -44.42% | -55.19% |
| Current Drawdown | -4.09% | -1.38% |
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VSMSX vs. SPY - Expense Ratio Comparison
VSMSX has a 0.08% expense ratio, which is lower than SPY's 0.09% 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%.
Correlation
The correlation between VSMSX and SPY is 0.82, 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.
Risk-Adjusted Performance
VSMSX vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Small-Cap 600 Index Fund Institutional Shares (VSMSX) and SPDR S&P 500 ETF (SPY). 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.
Dividends
VSMSX vs. SPY - Dividend Comparison
VSMSX's dividend yield for the trailing twelve months is around 1.32%, more than SPY's 1.19% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VSMSX Vanguard S&P Small-Cap 600 Index Fund Institutional Shares | 1.32% | 1.49% | 1.52% | 1.17% | 1.10% | 1.38% | 1.39% | 1.11% | 1.00% | 1.33% | 1.11% | 0.89% |
SPY SPDR S&P 500 ETF | 1.19% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
VSMSX vs. SPY - Drawdown Comparison
The maximum VSMSX drawdown since its inception was -44.42%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for VSMSX and SPY. For additional features, visit the drawdowns tool.
Volatility
VSMSX vs. SPY - Volatility Comparison
Vanguard S&P Small-Cap 600 Index Fund Institutional Shares (VSMSX) has a higher volatility of 7.45% compared to SPDR S&P 500 ETF (SPY) at 4.09%. This indicates that VSMSX's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.