SPDR SSGA US Small Cap Low Volatility ETF (SMLV) Performance
SMLV total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +20.3% since Dec 31, 2025
- 1 year
- +23.0% total return
- 5 years
- +8.7% a year
- 10 years
- +10.4% a year
- Since first price
- +10.8% a year since 2013
SMLV trailing returns vs SPY, QQQ, AGG
| Period | SMLV total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +2.1% | +2.1% | −1.0% | −5.0% | +0.9% |
| 3 months | −0.7% | −1.4% | +3.2% | +1.9% | −0.4% |
| 6 months | +7.8% | +6.5% | +7.8% | +8.4% | −1.5% |
| YTD | +20.3% | +18.2% | +12.3% | +15.1% | −1.0% |
| 1 year | +23.0% | +19.9% | +14.4% | +15.9% | −1.1% |
| 3 years | +78.6%+21.3%/yr | +64.5% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +51.7%+8.7%/yr | +32.7% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +168.1%+10.4%/yr | +93.3% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| Since inceptionFeb 21, 2013 | +303.8%+10.8%/yr | +160.2% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: SMLV vs SPY
From Feb 21, 2013: SMLV grew to $40,382, SPY to $63,778.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
SMLV returns by calendar year
8 of 12 full years positive. Best 2016 (+29.4%), worst 2022 (−7.7%). 2026 is year to date.
SMLV annual returns table
| Year | SMLV | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +20.3% | −7.3% | +12.3% | +15.1% | −1.0% |
| 2025 | +5.7% | −17.7% | +17.7% | +20.8% | +7.2% |
| 2024 | +16.8% | −8.9% | +24.9% | +25.6% | +1.3% |
| 2023 | +7.5% | −17.7% | +26.2% | +54.9% | +5.7% |
| 2022 | −7.7% | −16.9% | −18.2% | −32.6% | −13.0% |
| 2021 | +27.7% | −7.1% | +28.7% | +27.4% | −1.8% |
| 2020 | −1.5% | −42.4% | +18.3% | +48.6% | +7.5% |
| 2019 | +24.1% | −6.6% | +31.2% | +39.0% | +8.5% |
| 2018 | −6.6% | −18.8% | −4.6% | −0.1% | +0.1% |
| 2017 | +5.7% | −6.3% | +21.7% | +32.7% | +3.6% |
| 2016 | +29.4% | −7.9% | +12.0% | +7.1% | +2.4% |
| 2015 | −1.7% | −9.8% | +1.2% | +9.4% | +0.5% |
| 2014 | +13.2% | −7.1% | +13.5% | +19.2% | +6.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
SMLV largest drawdowns
Now 4.3% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 16, 2020 | −42.4% | Mar 23, 2020 | Jan 6, 2021 | 2 months | 12 months |
| Nov 25, 2024 | −20.4% | Apr 8, 2025 | Jan 12, 2026 | 4 months | 1.1 years |
| Jan 4, 2022 | −19.0% | Oct 27, 2023 | Jul 11, 2024 | 1.8 years | 2.5 years |
| Aug 31, 2018 | −18.8% | Dec 24, 2018 | Sep 13, 2019 | 4 months | 1.0 years |
| Dec 1, 2015 | −14.3% | Jan 21, 2016 | Apr 27, 2016 | 51 days | 5 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
SMLV risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2013 |
|---|---|---|---|---|
| Annualized return | +18.1% | +8.9% | +9.8% | +10.5% |
| Volatility (annualized) | 17.5% | 17.8% | 18.9% | 17.4% |
| Sharpe ratio | 0.79 | 0.36 | 0.47 | 0.57 |
| Sortino ratio | 1.58 | 0.63 | 0.73 | 0.89 |
| Best month | +15.0% | +15.0% | +17.2% | +17.2% |
| Worst month | −7.4% | −7.4% | −24.4% | −24.4% |
| Best 12 months | +40.8% | +40.8% | +73.0% | +73.0% |
| Worst 12 months | −3.1% | −11.6% | −25.6% | −25.6% |
| Positive months | 58% | 53% | 59% | 61% |
| Beta vs S&P 500 | 0.77 | 0.78 | 0.93 | — |
| Correlation with S&P 500 | 0.55 | 0.69 | 0.76 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
SMLV rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 153 | −25.6% | +9.5% | +73.0% | 79% |
| 3-year (a year) | 129 | −6.1% | +10.1% | +21.1% | 95% |
| 5-year (a year) | 105 | +0.4% | +8.9% | +16.2% | 100% |
| 10-year (a year) | 45 | +6.8% | +8.8% | +10.9% | 100% |
Every holding period starting at a month-end since 2013. Returns for 3 years and longer are annualized.
SMLV performance overview
SPDR SSGA US Small Cap Low Volatility ETF (SMLV) returned +23.0% over the past year and +10.4% a year over ten years, with distributions reinvested. Since its first recorded price in 2013 it has returned +10.8% a year, turning $10,000 into about $40,382. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −42.4%, from Jan 16, 2020 to Mar 23, 2020, and it took 9 months to get back to the old high. SMLV finished 8 of its 12 full calendar years with a gain; the best year was 2016 (+29.4%) and the worst 2022 (−7.7%). Volatility has been 17.4% a year.
Related: SMLV chart, SMLV holdings, SMLV dividends, SMLV valuation. See the SMLV overview for the latest quote and fund facts.
SMLV performance FAQ
What is the SMLV return over the past year?
SMLV returned +23.0% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 19.9%.
What is the average annual return of SMLV?
SMLV has returned +8.7% a year over 5 years, +10.4% a year over 10 years, +10.8% a year since February 21, 2013 (total return, distributions reinvested).
How much would $10,000 invested in SMLV be worth?
$10,000 invested in SMLV at its first recorded close on February 21, 2013 would be worth about $40,382 on October 23, 2026 with distributions reinvested.
What was the worst year for SMLV?
The worst calendar year was 2022, with a total return of −7.7%. The best was 2016 at +29.4%.
What is the biggest drawdown of SMLV?
The largest peak-to-trough decline was −42.4% between January 16, 2020 and March 23, 2020. It recovered to the old high on January 6, 2021, 9 months after the bottom.
How volatile is SMLV?
Over the past 3 years SMLV had an annualized volatility of 17.5% and a Sharpe ratio of 0.79 (excess return over 1–3 month T-bills per unit of risk).