First-Year Review
Cambria Global EW ETF's largest holding is another fund, about 25 times an equal share
State Street SPDR US Small Cap Low Volatility Index ETF
$152.13+0.27 (+0.18%)
- 0.12%
- $245M
- +25.1%
- 2.39%
- 0M sh
- $151.35
- low $124.22high $163.75
The ETF.net SMLV Grade
B
Score 69 out of 100
- 4 of 16
Score 69 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.A90 out of 100Rank 2 of 16Mission
Whether the fund did what it promised, tested against its stated mandate.A70 out of 100Rank 13 of 16Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C46 out of 100Rank 8 of 16Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C47 out of 100Rank 7 of 16Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A79 out of 100Rank 3 of 16Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C54 out of 100Rank 11 of 16
Our read on SMLV
BLow volatility is usually a large-cap game. SMLV runs the same calm-stocks screen down where the swings actually live: US small caps, roughly 400 of them, for 0.12% a year.
The fund's advertised mandate is exposure to U.S. small-capitalization companies selected for low volatility.
Why people hold it
- Costs 0.12% a year, under the 0.20% median for its low-volatility peer group.
- The low-vol shelf is stacked with large-cap mandates (USMV, LGLV, ONEV). This one applies the screen to US small caps instead.ssga.com
- Roughly 400 holdings, so no single small cap steers the fund. It has tracked its index through live markets since 2013.
- Sits in the upper half of its low-volatility cohort on our overall read.
Worth knowing
- Thinly traded next to the giants of the category, so the spread you pay at the point of trade matters more here.
- Low volatility is relative, not absolute. This is still small-cap equity, and it rides rougher than the large-cap min-vol funds it shares a shelf with.
- Distributions land quarterly, not monthly.
SMLV Holdings
- Stocks
- 395
- 6%
- SAFT
Sectors
- Financials31.9%
- Industrials14.5%
- Technology12.3%
- Real Estate10.7%
- Health Care9.2%
- Consumer Discretionary8.3%
- Materials3.4%
- Consumer Staples3.3%
- Utilities2.7%
- Communication2.3%
- Energy1.5%
Geography
- United States95.12%
- Bermuda1.26%
- Panama0.66%
- Puerto Rico0.62%
- Israel0.38%
- United Kingdom0.31%
- Canada0.28%
- Ireland0.26%
- 1.10%
SMLV Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
SMLV$12,512
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | SMLV |
|---|---|
| Year to date | +17.9% |
| 1 month | −1.9% |
| 3 months | −2.7% |
| 1 year | +25.1% |
| 3 years | +19.1% |
| 5 years | +8.7% |
| 10 years | +10.1% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | SMLV |
|---|---|---|
| 2026 YTD | +17.9% | |
| 2025 | +5.6% | |
| 2024 | +16.8% | |
| 2023 | +7.6% | |
| 2022 | −7.7% | |
| 2021 | +27.7% | |
| 2020 | −1.5% |
SMLV in the news
SMLV Dividends
- 2.39%
- $3.63
- $0.97 per share
- Quarterly
Distribution history
SMLV Risk
- 17.5%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.78
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −20.4%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.80
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
SMLV Cost
0.12%
SMLV0.12%
- The middle half of US Low Volatility Index funds
- Median 0.20%
1 of the 16 US Low Volatility Index funds charge less.
Other funds in US Low Volatility Index
- AQLVNorthern Trust US Quality Low Volatility ETFExpense ratio 0.09%1 year return +15.0%
- AUSMViShares MSCI USA Min Vol Factor ETFExpense ratio 0.15%1 year return +8.8%
- BONEVState Street SPDR Russell 1000 Low Volatility Focus ETFExpense ratio 0.20%1 year return +12.0%
- BFDLOFidelity Low Volatility Factor ETF Expense ratio 0.15%1 year return +14.9%
- BSMMViShares MSCI USA Small-Cap Min Vol Factor ETFExpense ratio 0.20%1 year return +9.5%