Data as of Oct 28, 2026.
SMLF vs VB: Differences, Returns & Fees
Over the year to Oct 28, 2026, SMLF returned +14.8% to VB's +14.4%; 49% of their weight is in the same names.
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Net assets: $4.2bn on Oct 27, 2026 for iShares U.S. Small-Cap Equity Factor ETF, and $76.9bn on Sep 30, 2026 for Vanguard Morningstar Small-Cap ETF.
Pair scorecard
VB costs 0.12 points a year less; their one-year returns differ by 0.4 points; VB is 19.2 times larger.
| Measure | SMLF | VB |
|---|---|---|
| Return | ||
| Total return, 1 year | +14.8% | +14.4% |
| Drawdown | ||
| Below its high | 5.2%, high on Aug 14, 2026 | 5.7%, high on Aug 14, 2026 |
| Benchmark | ||
| What it tracks | STOXX U.S. Small-Cap Equity Factor Index | Morningstar US Small Cap Index |
| Cost and size | ||
| Expense ratio | 0.15% | 0.03% |
| Net assets, as of Sep 30, 2026 | $4.0bn | $76.9bn |
| Holdings | ||
| Holdings in common | 49% | |
| Top ten holdings, share of the fund | 6.4% | 5.9% |
Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method
Risk and return
May 8, 2015 to Oct 23, 2026 · 598 weekly returnsSMLF returned more: +225.7% to +180.4%. SMLF and VB swung about the same: 21.0% and 20.7%. SMLF and VB fell about the same at their worst: −40.4% and −40.0%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | SMLF | VB | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +225.7% | +180.4% | SMLF | Price change plus distributions, reinvested. |
| Annualized | +10.8% | +9.4% | SMLF | Total return as a yearly rate. |
| Price return | +183.9% | +136.4% | SMLF | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 21.0% | 20.7% | Tie | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 14.6% | 14.5% | Tie | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −40.4% | −40.0% | Tie | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.49 | 0.43 | SMLF | Return above Treasury bills per unit of volatility. |
| Sortino | 0.70 | 0.62 | SMLF | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.27 | 0.23 | SMLF | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 598 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, SMLF and VB hold 49% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.
half
49% in common
Only in one fund ↓
Side by side
SMLF and VB on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
SMLF and VB are built for the same job. How do they differ in cost, holdings and results?
- What each follows. SMLF follows STOXX U.S. Small-Cap Equity Factor Index and VB follows Morningstar US Small Cap Index.
- Holdings in common. 49% of the weight is in the same securities (holdings dated Oct 27, 2026 and Sep 30, 2026).
- Cost. SMLF charges 0.15% of assets a year and VB 0.03%, a gap of 0.12 points.
Data as of Oct 28, 2026.
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SMLF
SMLF tracks an index. Over the year to Oct 28, 2026 it returned +14.8% with distributions reinvested. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Oct 27, 2026, 11% of the fund by weight is stocks the S&P 500 also holds, across 962 positions, with the top ten at 6.4%. It sat 5.2% below its high of Aug 14, 2026 on Oct 28, 2026.
VB
VB tracks an index of Small-Cap. Over the year to Oct 28, 2026 it returned +14.4% with distributions reinvested. The prospectus expense ratio is 0.03% a year. By its holdings published by its issuer as of Sep 30, 2026, 22% of the fund by weight is stocks the S&P 500 also holds, across 1,303 positions, with the top ten at 5.9%. It sat 5.7% below its high of Aug 14, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, SMLF or VB?
- In the year to Oct 28, 2026, with distributions reinvested, SMLF returned +14.8% and VB +14.4%.
- Which is cheaper, SMLF or VB?
- VB is cheaper, by 0.12 percentage points a year. That is about $12 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, SMLF against VB, data as of Oct 28, 2026. https://etfiq.com/compare/any/smlf-vs-vb
ETFIQ. (Oct 28, 2026). SMLF against VB. Retrieved from https://etfiq.com/compare/any/smlf-vs-vb
[SMLF against VB (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/smlf-vs-vb)
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