VTWG vs. SMMV

Last updated Jun 24, 2026

VTWG (Vanguard Russell 2000 Growth ETF) and SMMV (iShares MSCI USA Small-Cap Min Vol Factor ETF) are both Small Cap Growth Equities funds - VTWG tracks the Russell 2000 Growth Index while SMMV tracks the MSCI USA Small Cap Minimum Volatility (USD) Index. Both are passively managed. Over the past 5 years, VTWG returned 5.29%/yr vs 5.19%/yr for SMMV. A 0.79 correlation means they provide meaningful diversification when combined. VTWG charges 0.06%/yr vs 0.20%/yr for SMMV.

Performance

VTWG vs. SMMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Russell 2000 Growth ETF (VTWG) and iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VTWG achieves a 20.43% return, which is significantly higher than SMMV's 3.94% return.

VTWG

• 1D: -1.45%
• 1M: 4.36%
• YTD: 20.43%
• 6M: 16.97%
• 1Y: 40.10%
• 3Y*: 19.34%
• 5Y*: 5.29%
• 10Y*: 12.12%

SMMV

• 1D: 1.03%
• 1M: 0.28%
• YTD: 3.94%
• 6M: 2.94%
• 1Y: 8.20%
• 3Y*: 11.88%
• 5Y*: 5.19%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

VTWG vs. SMMV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VTWG Vanguard Russell 2000 Growth ETF	20.43%	13.07%	15.15%	18.90%	-26.49%	2.84%	34.72%	28.75%	-9.45%	22.27%
SMMV iShares MSCI USA Small-Cap Min Vol Factor ETF	3.94%	6.42%	18.29%	5.63%	-10.00%	16.64%	-2.88%	24.21%	1.15%	14.31%

Correlation

The correlation between VTWG and SMMV is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (All Time) Calculated using the full available price history since Sep 9, 2016	0.79

Over the past year, the correlation between VTWG and SMMV has dropped to 0.59 - well below their long-term average of 0.79, suggesting their price drivers have been diverging.

VTWG vs. SMMV - Sectors Allocation Comparison

Sectors	VTWG	SMMV
Technology	25.8%	14.5%
Industrials	23.1%	13.5%
Healthcare	22.0%	17.6%
Financial Services	7.8%	8.9%
Consumer Cyclical	7.1%	5.1%
Basic Materials	4.0%	1.6%
Energy	3.1%	5.3%
Consumer Defensive	2.3%	8.0%
Communication Services	2.2%	5.3%
Real Estate	2.0%	12.6%
Utilities	0.6%	7.5%

Return for Risk

VTWG vs. SMMV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VTWG

VTWG Risk / Return Rank: 54
VTWG Sharpe Ratio Rank: 56
VTWG Sortino Ratio Rank: 54
VTWG Omega Ratio Rank: 48
VTWG Calmar Ratio Rank: 57
VTWG Martin Ratio Rank: 57

SMMV

SMMV Risk / Return Rank: 25
SMMV Sharpe Ratio Rank: 25
SMMV Sortino Ratio Rank: 24
SMMV Omega Ratio Rank: 22
SMMV Calmar Ratio Rank: 25
SMMV Martin Ratio Rank: 27

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VTWG vs. SMMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Russell 2000 Growth ETF (VTWG) and iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV). 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.

	VTWG	SMMV	Difference
Sharpe ratio: Return per unit of total volatility	1.80	0.84	+0.96
Sortino ratio: Return per unit of downside risk	2.48	1.27	+1.20
Omega ratio: Gain probability vs. loss probability	1.30	1.15	+0.15
Calmar ratio: Return relative to maximum drawdown	2.71	1.17	+1.53
Martin ratio: Return relative to average drawdown	9.72	3.53	+6.19

VTWG vs. SMMV - Sharpe Ratio Comparison

The current VTWG Sharpe Ratio is 1.80, which is higher than the SMMV Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of VTWG and SMMV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VTWG vs. SMMV - Drawdown Comparison

The maximum VTWG drawdown since its inception was -42.07%, which is greater than SMMV's maximum drawdown of -38.77%. Use the drawdown chart below to compare losses from any high point for VTWG and SMMV.

Drawdown Indicators

	VTWG	SMMV	Difference
Max Drawdown Largest peak-to-trough decline	-42.07%	-38.77%	-3.30%
Max Drawdown (1Y) Largest decline over 1 year	-14.88%	-7.02%	-7.86%
Max Drawdown (3Y) Largest decline over 3 years	-28.58%	-13.68%	-14.90%
Max Drawdown (5Y) Largest decline over 5 years	-40.49%	-18.00%	-22.49%
Max Drawdown (10Y) Largest decline over 10 years	-42.07%	—	—
Current Drawdown Current decline from peak	-1.45%	-2.67%	+1.22%
Average Drawdown Average peak-to-trough decline	-10.50%	-5.09%	-5.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.14%	2.33%	+1.81%

Volatility

VTWG vs. SMMV - Volatility Comparison

Vanguard Russell 2000 Growth ETF (VTWG) has a higher volatility of 7.82% compared to iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV) at 2.48%. This indicates that VTWG's price experiences larger fluctuations and is considered to be riskier than SMMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VTWG	SMMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.82%	2.48%	+5.34%
Volatility (6M) Calculated over the trailing 6-month period	16.92%	6.51%	+10.41%
Volatility (1Y) Calculated over the trailing 1-year period	22.34%	9.84%	+12.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.67%	13.48%	+11.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.27%	15.66%	+8.61%

VTWG vs. SMMV - Expense Ratio Comparison

VTWG has a 0.06% expense ratio, which is lower than SMMV's 0.20% 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%.

Dividends

VTWG vs. SMMV - Dividend Comparison

VTWG's dividend yield for the trailing twelve months is around 0.59%, less than SMMV's 1.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SMMV iShares MSCI USA Small-Cap Min Vol Factor ETF	1.74%	1.77%	1.76%	2.30%	1.67%	1.08%	1.39%	1.64%	1.72%	1.63%	0.79%	0.00%
VTWG Vanguard Russell 2000 Growth ETF	0.59%	0.64%	0.55%	0.79%	0.71%	0.54%	0.48%	0.72%	0.72%	0.64%	0.96%	0.72%

Frequently Asked Questions

Can I hold both VTWG and SMMV in my portfolio?

VTWG and SMMV have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VTWG or SMMV?

VTWG has higher volatility (7.82%) compared to SMMV (2.48%). In terms of maximum drawdown, VTWG dropped -42.07% vs SMMV's -38.77%.

Which ETF is better, VTWG or SMMV?

On 5-year performance, VTWG leads with 5.29% vs 5.19% for SMMV. On fees, VTWG is cheaper at 0.06% per year. On volatility, SMMV has been the lower-risk option at 2.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VTWG or SMMV?

Over the 5-year period, VTWG has performed better with a 5.29% return vs 5.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VTWG or SMMV?

VTWG is cheaper with a 0.06% expense ratio, compared with 0.20% for SMMV.

Which ETF pays a higher dividend yield, VTWG or SMMV?

SMMV has the higher dividend yield at 1.74%, compared with 0.59% for VTWG.

What is the main difference between VTWG and SMMV?

VTWG tracks Russell 2000 Growth Index, while SMMV tracks MSCI USA Small Cap Minimum Volatility (USD) Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.06% for VTWG and 0.20% for SMMV.

Which has better risk-adjusted returns?

VTWG currently has the higher Sharpe Ratio (1.80 vs 0.84), 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.