VSMVX vs. VRTVX
VSMVX (Vanguard S&P Small-Cap 600 Value Index Fund Institutional Shares) and VRTVX (Vanguard Russell 2000 Value Index Fund Institutional Shares) are both Small Cap Value Equities funds from Vanguard. Over the past 10 years, VSMVX returned 10.25%/yr vs 10.34%/yr for VRTVX. With a 0.98 correlation, they move nearly in lockstep. Both charge a 0.08% expense ratio.
Performance
VSMVX vs. VRTVX - Performance Comparison
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Returns By Period
In the year-to-date period, VSMVX achieves a 15.25% return, which is significantly lower than VRTVX's 17.44% return. Both investments have delivered pretty close results over the past 10 years, with VSMVX having a 10.25% annualized return and VRTVX not far ahead at 10.34%.
VSMVX
- 1D
- -1.15%
- 1M
- 1.16%
- YTD
- 15.25%
- 6M
- 15.26%
- 1Y
- 37.71%
- 3Y*
- 14.11%
- 5Y*
- 5.71%
- 10Y*
- 10.25%
VRTVX
- 1D
- -1.26%
- 1M
- 1.19%
- YTD
- 17.44%
- 6M
- 16.47%
- 1Y
- 42.05%
- 3Y*
- 17.82%
- 5Y*
- 6.63%
- 10Y*
- 10.34%
VSMVX vs. VRTVX - 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 | 15.25% | 6.38% | 7.53% | 14.85% | -11.12% | 30.85% | 2.79% | 24.47% | -12.67% | 11.64% |
VRTVX Vanguard Russell 2000 Value Index Fund Institutional Shares | 17.44% | 12.21% | 8.07% | 14.71% | -14.52% | 28.06% | 4.81% | 22.40% | -12.83% | 7.91% |
Correlation
The correlation between VSMVX and VRTVX is 0.95 - 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 | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
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 Dec 18, 2012 | 0.98 |
The correlation between VSMVX and VRTVX has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.
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Return for Risk
VSMVX vs. VRTVX — Risk / Return Rank
VSMVX
VRTVX
VSMVX vs. VRTVX - 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 Russell 2000 Value Index Fund Institutional Shares (VRTVX). 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 | VRTVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.39 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 4.02 | 4.87 | -0.86 |
| Martin ratioReturn relative to average drawdown | 13.23 | 16.53 | -3.31 |
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 | VRTVX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.05 | 2.32 | -0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.26 | 0.31 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.43 | 0.44 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.47 | +0.03 |
Drawdowns
VSMVX vs. VRTVX - Drawdown Comparison
The maximum VSMVX drawdown since its inception was -47.61%, roughly equal to the maximum VRTVX drawdown of -45.98%. Use the drawdown chart below to compare losses from any high point for VSMVX and VRTVX.
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Drawdown Indicators
| VSMVX | VRTVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.61% | -45.98% | -1.63% |
Max Drawdown (1Y)Largest decline over 1 year | -9.33% | -8.54% | -0.79% |
Max Drawdown (3Y)Largest decline over 3 years | -28.81% | -26.85% | -1.96% |
Max Drawdown (5Y)Largest decline over 5 years | -28.81% | -26.85% | -1.96% |
Max Drawdown (10Y)Largest decline over 10 years | -47.61% | -45.98% | -1.63% |
Current DrawdownCurrent decline from peak | -1.15% | -1.50% | +0.35% |
Average DrawdownAverage peak-to-trough decline | -7.64% | -7.78% | +0.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.83% | 2.51% | +0.32% |
Volatility
VSMVX vs. VRTVX - Volatility Comparison
The current volatility for Vanguard S&P Small-Cap 600 Value Index Fund Institutional Shares (VSMVX) is 4.44%, while Vanguard Russell 2000 Value Index Fund Institutional Shares (VRTVX) has a volatility of 5.01%. This indicates that VSMVX experiences smaller price fluctuations and is considered to be less risky than VRTVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VSMVX | VRTVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.44% | 5.01% | -0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 11.58% | 12.04% | -0.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.34% | 18.00% | +0.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.02% | 21.67% | +0.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.13% | 23.71% | +0.42% |
VSMVX vs. VRTVX - Expense Ratio Comparison
Both VSMVX and VRTVX have an expense ratio of 0.08%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
VSMVX vs. VRTVX - Dividend Comparison
VSMVX's dividend yield for the trailing twelve months is around 1.65%, more than VRTVX's 1.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VRTVX Vanguard Russell 2000 Value Index Fund Institutional Shares | 1.60% | 1.49% | 1.84% | 2.08% | 2.15% | 1.56% | 1.54% | 1.87% | 2.17% | 1.74% | 1.52% | 2.16% |
VSMVX Vanguard S&P Small-Cap 600 Value Index Fund Institutional Shares | 1.65% | 1.45% | 1.85% | 1.92% | 1.88% | 1.66% | 1.46% | 1.65% | 1.89% | 1.55% | 1.26% | 1.42% |
Frequently Asked Questions
With a correlation of 0.95, VSMVX and VRTVX 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.
VRTVX has higher volatility (5.01%) compared to VSMVX (4.44%). In terms of maximum drawdown, VSMVX dropped -47.61% vs VRTVX's -45.98%.
VRTVX currently has the higher Sharpe Ratio (2.32 vs 2.05), 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.
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