VSMVX vs. VBR
Compare and contrast key facts about Vanguard S&P Small-Cap 600 Value Index Fund Institutional Shares (VSMVX) and Vanguard Small-Cap Value ETF (VBR).
VSMVX is managed by Vanguard. It was launched on Nov 19, 2014. VBR is a passively managed fund by Vanguard that tracks the performance of the CRSP US Small Cap Value Index. It was launched on Jan 26, 2004.
Performance
VSMVX vs. VBR - Performance Comparison
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VSMVX vs. VBR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VSMVX Vanguard S&P Small-Cap 600 Value Index Fund Institutional Shares | 2.15% | 6.38% | 7.53% | 14.85% | -11.12% | 30.85% | 2.79% | 24.47% | -12.67% | 11.64% |
VBR Vanguard Small-Cap Value ETF | 3.17% | 9.09% | 12.40% | 16.00% | -9.38% | 28.08% | 5.90% | 22.78% | -12.28% | 11.81% |
Returns By Period
In the year-to-date period, VSMVX achieves a 2.15% return, which is significantly lower than VBR's 3.17% return. Over the past 10 years, VSMVX has underperformed VBR with an annualized return of 9.29%, while VBR has yielded a comparatively higher 10.10% annualized return.
VSMVX
- 1D
- -0.48%
- 1M
- -5.37%
- YTD
- 2.15%
- 6M
- 5.65%
- 1Y
- 21.03%
- 3Y*
- 9.21%
- 5Y*
- 4.68%
- 10Y*
- 9.29%
VBR
- 1D
- 2.34%
- 1M
- -4.96%
- YTD
- 3.17%
- 6M
- 5.21%
- 1Y
- 18.95%
- 3Y*
- 13.42%
- 5Y*
- 7.55%
- 10Y*
- 10.10%
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VSMVX vs. VBR - Expense Ratio Comparison
VSMVX has a 0.08% expense ratio, which is higher than VBR's 0.07% 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
VSMVX vs. VBR — Risk / Return Rank
VSMVX
VBR
VSMVX vs. VBR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Small-Cap 600 Value Index Fund Institutional Shares (VSMVX) and Vanguard Small-Cap Value ETF (VBR). 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.
| VSMVX | VBR | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.90 | 0.92 | -0.02 |
Sortino ratioReturn per unit of downside risk | 1.39 | 1.42 | -0.03 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.19 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.18 | 1.37 | -0.19 |
Martin ratioReturn relative to average drawdown | 4.50 | 5.64 | -1.14 |
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
| VSMVX | VBR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.90 | 0.92 | -0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 0.38 | -0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.39 | 0.47 | -0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.40 | +0.06 |
Correlation
The correlation between VSMVX and VBR is 0.97, 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
VSMVX vs. VBR - Dividend Comparison
VSMVX's dividend yield for the trailing twelve months is around 1.86%, less than VBR's 1.90% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VSMVX Vanguard S&P Small-Cap 600 Value Index Fund Institutional Shares | 1.86% | 1.45% | 1.85% | 1.92% | 1.88% | 1.66% | 1.46% | 1.65% | 1.89% | 1.55% | 1.26% | 1.42% |
VBR Vanguard Small-Cap Value ETF | 1.90% | 1.95% | 1.98% | 2.12% | 2.03% | 1.75% | 1.68% | 2.06% | 2.35% | 1.79% | 1.77% | 1.99% |
Drawdowns
VSMVX vs. VBR - Drawdown Comparison
The maximum VSMVX drawdown since its inception was -47.61%, smaller than the maximum VBR drawdown of -61.98%. Use the drawdown chart below to compare losses from any high point for VSMVX and VBR.
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Drawdown Indicators
| VSMVX | VBR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.61% | -61.98% | +14.37% |
Max Drawdown (1Y)Largest decline over 1 year | -15.74% | -14.18% | -1.56% |
Max Drawdown (5Y)Largest decline over 5 years | -28.81% | -24.19% | -4.62% |
Max Drawdown (10Y)Largest decline over 10 years | -47.61% | -45.28% | -2.33% |
Current DrawdownCurrent decline from peak | -8.13% | -6.13% | -2.00% |
Average DrawdownAverage peak-to-trough decline | -7.72% | -8.32% | +0.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.13% | 3.44% | +0.69% |
Volatility
VSMVX vs. VBR - Volatility Comparison
The current volatility for Vanguard S&P Small-Cap 600 Value Index Fund Institutional Shares (VSMVX) is 5.01%, while Vanguard Small-Cap Value ETF (VBR) has a volatility of 5.50%. This indicates that VSMVX experiences smaller price fluctuations and is considered to be less risky than VBR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VSMVX | VBR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.01% | 5.50% | -0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 13.41% | 11.28% | +2.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.78% | 20.64% | +3.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.16% | 19.85% | +2.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.14% | 21.73% | +2.41% |