VSS vs. NISM
VSS (Vanguard FTSE All-World ex-US Small-Cap ETF) and NISM (NYLI International Small-Mid Cap Equity ETF) are both Foreign Small & Mid Cap Equities funds. VSS is passively managed, while NISM is actively managed. Their correlation of 0.87 suggests significant overlap in exposure. VSS charges 0.07%/yr vs 0.70%/yr for NISM.
Performance
VSS vs. NISM - Performance Comparison
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Returns By Period
VSS
- 1D
- -1.60%
- 1M
- -2.98%
- 6M
- 2.77%
- YTD
- 6.76%
- 1Y
- 17.03%
- 3Y*
- 13.72%
- 5Y*
- 5.19%
- 10Y*
- 7.86%
NISM
- 1D
- -1.04%
- 1M
- -1.17%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VSS vs. NISM - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
VSS Vanguard FTSE All-World ex-US Small-Cap ETF | -4.62% |
NISM NYLI International Small-Mid Cap Equity ETF | -2.69% |
Correlation
The correlation between VSS and NISM is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since May 13, 2026 | 0.87 |
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Return for Risk
VSS vs. NISM — Risk / Return Rank
VSS
NISM
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
VSS vs. NISM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE All-World ex-US Small-Cap ETF (VSS) and NYLI International Small-Mid Cap Equity ETF (NISM). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| VSS | NISM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.20 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.47 | — | — |
| Martin ratioReturn relative to average drawdown | 5.15 | — | — |
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Drawdowns
VSS vs. NISM - Drawdown Comparison
The maximum VSS drawdown since its inception was -43.51%, which is greater than NISM's maximum drawdown of -4.35%. Use the drawdown chart below to compare losses from any high point for VSS and NISM.
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Drawdown Indicators
| VSS | NISM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.51% | -4.35% | -39.16% |
Max Drawdown (1Y)Largest decline over 1 year | -11.62% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -15.73% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -33.93% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -43.51% | — | — |
Current DrawdownCurrent decline from peak | -5.94% | -2.77% | -3.17% |
Average DrawdownAverage peak-to-trough decline | -9.61% | -1.75% | -7.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.32% | — | — |
Volatility
VSS vs. NISM - Volatility Comparison
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Volatility by Period
| VSS | NISM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.64% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 14.15% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 15.97% | 14.27% | +1.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.66% | 14.27% | +2.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.11% | 14.27% | +2.84% |
VSS vs. NISM - Expense Ratio Comparison
VSS has a 0.07% expense ratio, which is lower than NISM's 0.70% expense ratio.
Dividends
VSS vs. NISM - Dividend Comparison
VSS's dividend yield for the trailing twelve months is around 3.27%, more than NISM's 0.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NISM NYLI International Small-Mid Cap Equity ETF | 0.25% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VSS Vanguard FTSE All-World ex-US Small-Cap ETF | 3.27% | 3.39% | 3.44% | 3.14% | 2.30% | 2.74% | 1.90% | 3.25% | 2.80% | 2.83% | 2.93% | 2.66% |
Frequently Asked Questions
VSS and NISM have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VSS is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VSS is cheaper with a 0.07% expense ratio, compared with 0.70% for NISM.
VSS has the higher dividend yield at 3.27%, compared with 0.25% for NISM.
They also come from different issuers: Vanguard and New York Life Investment Management. Their fees differ too: 0.07% for VSS and 0.70% for NISM.
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