Data as of Oct 28, 2026.
SPSM vs VIOO: Differences, Returns & Fees
Over the year to Oct 28, 2026, SPSM returned +17.6% to VIOO's +17.5%; 94% of their weight is in the same names.
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Net assets: $16.0bn on Oct 27, 2026 for State Street SPDR Portfolio S&P 600 Small Cap ETF, and $4.0bn on Sep 30, 2026 for Vanguard S&P Small-Cap 600 ETF.
Pair scorecard
SPSM costs 0.04 points a year less; their one-year returns differ by 0.1 points; SPSM is 3.9 times larger.
| Measure | SPSM | VIOO |
|---|---|---|
| Return | ||
| Total return, 1 year | +17.6% | +17.5% |
| Drawdown | ||
| Below its high | 6.7%, high on Aug 14, 2026 | 6.8%, high on Aug 14, 2026 |
| Benchmark | ||
| What it tracks | S&P SmallCap 600 Index | S&P SmallCap 600 Index |
| Cost and size | ||
| Expense ratio | 0.03% | 0.07% |
| Net assets, as of Sep 30, 2026 | $15.7bn | $4.0bn |
| Holdings | ||
| Holdings in common | 94% | |
| Top ten holdings, share of the fund | 5.3% | 5.3% |
Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method
Risk and return
Jul 19, 2013 to Oct 23, 2026 · 692 weekly returns · each against IJRVIOO returned slightly more: +245.0% to +222.7%. SPSM and VIOO swung about the same: 21.2% and 21.0%. SPSM fell slightly less at its worst: −41.9% to −43.5%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | SPSM | VIOO | IJR | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +222.7% | +245.0% | VIOO (slight) | Price change plus distributions, reinvested. | |
| Annualized | +9.2% | +9.8% | VIOO (slight) | Total return as a yearly rate. | |
| Price return | +158.2% | +193.9% | VIOO | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 21.2% | 21.0% | Tie | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 14.6% | 14.4% | Tie | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −41.9% | −43.5% | SPSM (slight) | Deepest fall from a high to the low after it. | |
| Upside capture | 99.1% | 99.7% | 100.0% | Tie | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 100.3% | 99.9% | 100.0% | Tie | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 1.00 | 1.00 | 1.00 | Tie | How far it moves for each 1% its benchmark moves. |
| R squared | 0.99 | 1.00 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 0.43 | 0.46 | VIOO (slight) | Return above Treasury bills per unit of volatility. | |
| Sortino | 0.63 | 0.67 | VIOO (slight) | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.091 | 0.096 | 0.096 | VIOO (slight) | Return above Treasury bills per unit of beta. |
| Calmar | 0.22 | 0.22 | Tie | Annualized return divided by the max drawdown. | |
| Against the benchmark | |||||
| Benchmark | IJR | IJR | IJR | The ETF each fund is measured against. | |
| Alpha | −0.5% a year | 0.0% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −0.73 | 0.05 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −1.8% to +0.8% | −0.4% to +0.4% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | −0.20 | −0.02 | VIOO | Return against its benchmark per unit of tracking error. | |
| Tracking error | 2.4% | 0.8% | 0.0% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 692 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, SPSM and VIOO hold 94% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.
half
94% in common
Only in one fund ↓
Side by side
SPSM and VIOO on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
SPSM and VIOO are built for the same job. How do they differ in cost, holdings and results?
- Size. SPSM has $15.7bn in net assets and VIOO $4.0bn (net assets, as of Sep 30, 2026); SPSM is 3.9 times larger.
- What each follows (similar). Both follow S&P SmallCap 600 Index.
- Holdings in common (similar). 94% of the weight is in the same securities (holdings dated Oct 27, 2026 and Sep 30, 2026).
Data as of Oct 28, 2026.
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SPSM
SPSM tracks an index. Over the year to Oct 28, 2026 it returned +17.6% with distributions reinvested, against +17.5% for its benchmark, the S&P SmallCap 600 Index. The prospectus expense ratio is 0.03% a year. By its holdings published by its issuer for Oct 27, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 609 positions, with the top ten at 5.3%. It sat 6.7% below its high of Aug 14, 2026 on Oct 28, 2026.
VIOO
VIOO tracks an index. Over the year to Oct 28, 2026 it returned +17.5% with distributions reinvested, against +17.5% for its benchmark, the S&P SmallCap 600 Index. The prospectus expense ratio is 0.07% a year. By its holdings published by its issuer as of Sep 30, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 607 positions, with the top ten at 5.3%. It sat 6.8% below its high of Aug 14, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, SPSM or VIOO?
- In the year to Oct 28, 2026, with distributions reinvested, SPSM returned +17.6% and VIOO +17.5%.
- Which is cheaper, SPSM or VIOO?
- SPSM is cheaper, by 0.04 percentage points a year. That is about $4 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, SPSM against VIOO, data as of Oct 28, 2026. https://etfiq.com/compare/any/spsm-vs-vioo
ETFIQ. (Oct 28, 2026). SPSM against VIOO. Retrieved from https://etfiq.com/compare/any/spsm-vs-vioo
[SPSM against VIOO (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/spsm-vs-vioo)
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