LGLV vs SMLV: Grades, Fees and Holdings Compared

State Street SPDR US Large Cap Low Volatility Index ETF

LGLVANYSE Arca

State Street SPDR US Small Cap Low Volatility Index ETF

SMLVBNYSE Arca

Overlap

0.1%by weight

Expense ratio

LGLV0.12%SMLV0.12%

Avg volume · 30D

LGLV 7.6×the volume

LGLV26.6KSMLV3.51K

10Y return · a year

LGLV +1.6pt

LGLV+11.9%SMLV+10.3%

LGLV vs SMLV Performance

Oct 29, 2021 – Oct 30, 2026

+45.7%LGLV+52.2%SMLV

Expense ratio: LGLV 0.12%; SMLV 0.12%
Fund size: LGLV $1.2B; SMLV $260M
1Y total return: LGLV +11.7%; SMLV +25.8%, better
Yield (12M): LGLV 2.06%; SMLV 2.34%, better
Holdings: LGLV 174; SMLV 393
Avg volume (30D): LGLV 26.6K sh, better; SMLV 3.51K sh
NAV per share: LGLV $187.96; SMLV $156.67
52W range

ETF.net Grade

Pillar letters and Scores for LGLV, SMLV, with each pillar’s weight
Pillar	LGLV	SMLV
Cost30% weight	A90	A90
Mission25% weight	A93Higher	B69
Risk15% weight	C44Higher	C40
Tradability15% weight	A82Higher	C49
Holdings10% weight	C52	A79Higher
Durability5% weight	A74Higher	C53

Rank among US Low Volatility Index funds

How we build Categories ›

Same Category. LGLV and SMLV are both graded against the same 16 US Low Volatility Index funds, so their Grades compare head to head.

US Low Volatility Index⁠

Category · 16 funds

See all 16 ›

LGLV ranks 1st and SMLV 4th of 16 funds in the US Low Volatility Index Category.

Rank 1ALGLVState Street SPDR US Large Cap Low Volatility Index ETFScore 78
Rank 2AQLVNorthern Trust US Quality Low Volatility ETFScore 76
Rank 3AUSMViShares MSCI USA Min Vol Factor ETFScore 75
Rank 4BSMLVState Street SPDR US Small Cap Low Volatility Index ETFScore 68
Rank 5BONEVState Street SPDR Russell 1000 Low Volatility Focus ETFScore 67

Our read on each fund

ETF.net Research

LGLVAState Street SPDR US Large Cap Low Volatility Index ETF

SMLVBState Street SPDR US Small Cap Low Volatility Index ETF

In short

LGLV Most low-vol funds run an optimizer. LGLV just ranks the biggest 1,000 US stocks by how calm they have been and gives the quietest ones the heaviest weights, for 0.12% a year.

SMLV Low 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.

Stated mandate

LGLV The fund is designed to provide exposure to U.S. large-capitalization equities selected through a low-volatility index strategy.

SMLV The fund's advertised mandate is exposure to U.S. small-capitalization companies selected for low volatility.

Why people hold it

LGLV 0.12% a year, below the typical US low-vol fund (cohort median 0.20%) and under USMV's 0.15%.
The rules fit in one sentence: screen the largest 1,000 US stocks, weight the calmest heaviest, subject to liquidity limits. No black box.ssga.com
Running since 2013 and tracking its index tightly, it rates as one of the stronger builds in the US low-vol group.

SMLV 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

LGLV Weighting by volatility alone means the sector mix can lean hard into whatever is quiet (often utilities and staples) and look nothing like the S&P 500.ssga.com
Trades lighter than the category's household names, so spreads can be wider. Limit orders matter more here.
Low volatility is not low risk: this is a fully invested stock fund and it can move very differently from the broad market.ssga.com

SMLV 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.

Full LGLV profile⁠

Full SMLV profile⁠

LGLV vs SMLV Holdings

How LGLV and SMLV differ

Overlap by weight

0.1%

Shared holdings make up 0.6% of SMLV and 0.1% of LGLV.

Level by level

Holdings0 in both0.1%
Sector11 Sectors70.0%
Countryby domicile98.1%
Asset classEquity100%

Sector

Sector weights in LGLV and SMLV, widest gap first
Sector	More in LGLVMore in SMLV	LGLV	SMLV
Financials	SMLV +24.0 points	11.5%	35.5%
Utilities	LGLV +8.4 points	11.2%	2.8%
Industrials	LGLV +7.5 points	21.6%	14.1%
Real Estate	LGLV +6.7 points	16.0%	9.3%
Technology	SMLV +3.6 points	6.6%	10.2%
Consumer Staples	LGLV +3.1 points	6.2%	3.1%
Health Care	SMLV +1.6 points	7.9%	9.5%
Energy	LGLV +1.6 points	3.5%	1.9%
Communication	LGLV +1.5 points	3.9%	2.4%
Materials	LGLV +1.3 points	5.3%	4.0%
Consumer Discretionary	SMLV +0.9 points	6.2%	7.1%

Country, concentration and asset class

Country by domicile

Country weights in LGLV and SMLV, widest gap first
Country	More in LGLVMore in SMLV	LGLV	SMLV
United States	SMLV +1.2 points	97.4%	98.6%
Switzerland	LGLV +0.9 points	0.9%	0.0%
United Kingdom	LGLV +0.7 points	0.7%	0.0%
Other countries (7)	SMLV +0.4 points	1.0%	1.4%

Concentration

Weight in the 10 largest Holdings

LGLV15.8%
SMLV6.0%

Securities held

LGLV172
SMLV391

Asset class

LGLV: Equity
SMLV: Equity

Holdings

Only in LGLV172
In both0
Only in SMLV391

Only in LGLV

172 securities, 99.9% of LGLV by weight

Welltower Inc4.37%
Realty Income Corp1.62%
Vivmark Residential1.44%
Duke Energy Corp1.38%
Coca Cola Co/The1.23%
Consolidated Edison Inc1.19%
Southern Co/The1.18%
Cme Group Inc1.13%
Public Service Enterprise Gp1.11%
Visa Inc Class A Shares1.10%
Travelers Cos Inc/The1.10%
Johnson & Johnson1.06%
General Dynamics Corp0.99%
Marsh & Mclennan Cos0.98%
Berkshire Hathaway Inc Class B0.97%
Cisco Systems Inc0.97%
Colgate Palmolive Co0.94%
Pepsico Inc0.94%
Ameren Corporation0.93%
Chubb Ltd0.92%
Mastercard Inc A0.91%
Cheniere Energy Inc0.90%
Becton Dickinson and Co0.90%
Procter & Gamble Co/The0.90%
Automatic Data Processing0.89%
Roper Technologies Inc0.88%
Royalty Pharma PLC Class A0.87%
Aflac Inc0.85%
Dte Energy Company0.85%
Centerpoint Energy Inc0.84%
Republic Services Inc0.84%
Linde PLC0.83%
Firstenergy Corp0.83%
Willis Towers Watson PLC0.82%
Vici Properties Inc0.80%
Microsoft Corp0.79%
Darden Restaurants Inc0.77%
Labcorp Holdings Inc0.77%
Paychex Inc0.77%
Ecolab Inc0.76%
McDonald’s Corp0.75%
Apple Inc0.75%
Kinder Morgan Inc0.75%
Ametek Inc0.74%
AbbVie Inc0.73%
Waste Management Inc0.70%
Markel Group Inc0.70%
Walmart Inc0.69%
Amphenol Corp Class A0.69%
Packaging Corp of America0.67%

Only in SMLV

391 securities, 99.4% of SMLV by weight

Safety Insurance Group Inc0.67%
Northwestern Energy Group In0.66%
City Holding Co0.64%
Phillips Edison & Company In0.60%
American States Water Co0.60%
Horace Mann Educators0.59%
Apple Hospitality Reit Inc0.58%
Chemed Corp0.57%
Selective Insurance Group0.56%
Atlanta Braves Holdings In C0.55%
Mcgrath Rentcorp0.53%
Msc Industrial Direct Co A0.51%
Tenable Holdings Inc0.50%
Ltc Properties Inc0.49%
Community Trust Bancorp Inc0.48%
Tfs Financial Corp0.47%
Ashland Inc0.47%
Spire Inc0.46%
White Mountains Insurance Gp0.45%
New Jersey Resources Corp0.45%
Northwest Bancshares Inc0.45%
Bank First Corp0.45%
Nelnet Inc Class A0.44%
Brady Corporation Class A0.44%
First Financial Corp0.44%
Peoples Bancorp Inc0.44%
Four Corners Property Trust0.44%
Capital City Bank Group Inc0.43%
Sensient Technologies Corp0.43%
1ST Source Corp0.43%
Rlj Lodging Trust0.42%
Bar Harbor Bankshares0.42%
German American Bancorp0.42%
Sunstone Hotel Investors Inc0.42%
Kforce Inc0.41%
Science Applications Inte0.41%
Postal Realty Trust Inc A0.41%
Cnb Financial Corp/Pa0.41%
Healthstream Inc0.41%
Avista Corp0.40%
Mgic Investment Corp0.40%
Great Southern Bancorp Inc0.40%
Cbiz Inc0.40%
Cto Realty Growth Inc0.39%
Essent Group Ltd0.39%
Cass Information Systems Inc0.39%
Landstar System Inc0.39%
Merit Medical Systems Inc0.39%
Cno Financial Group Inc0.39%
Home Bancshares Inc0.38%

Weight gaps

LGLV and SMLV share no securities.

All 172 LGLV holdings⁠All 391 SMLV holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

LGLV vs SMLV Cost

Same expense ratio

$2,520

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

LGLV 0.12%
$2,520
SMLV 0.12%
$2,520

Amount$10,000

Years30 years

Cost over time

LGLV 0.12%
SMLV 0.12%

Year by year

Year	LGLV	SMLV
10	$220	$220
20	$859	$859
30	$2,520	$2,520

Expense ratio

0.12%LGLV
0.12%SMLV

LGLV0.12%SMLV0.12%

0.08%0.35%

Middle half of US Low Volatility Index funds
Median 0.20%

LGLV 2nd cheapest of 16 funds

SMLV 2nd cheapest of 16 funds

LGLV vs SMLV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): LGLV 2.06%; SMLV 2.34%, better
Payout (12M): LGLV $3.88; SMLV $3.63
Last payment: LGLV $0.99; SMLV $0.97
Ex-dividend: LGLV Sep 21, 2026; SMLV Sep 21, 2026
Paid on: LGLV Sep 23, 2026; SMLV Sep 23, 2026
Frequency: LGLV Quarterly; SMLV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

LGLVQuarterly · 39 paymentsAll LGLV payments⁠

SMLVQuarterly · 39 paymentsAll SMLV payments⁠

LGLV vs SMLV Risk

Fall from peak · 5 years

LGLV
SMLV

Risk facts

VolatilityStd dev, 3 years: LGLV 11.8%, betterSMLV 17.2%
Return per unit of riskSharpe ratio, 3 years: LGLV 0.86SMLV 0.94, better
Worst fallMax drawdown, 5 years: LGLV −17.5%, betterSMLV −20.4%
Market sensitivityBeta, 5 years: LGLV 0.48SMLV 0.80; Market = 1

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