LGLV vs VFMV: Grades, Fees and Holdings Compared

State Street SPDR US Large Cap Low Volatility Index ETF

LGLVANYSE Arca

Vanguard U.S. Minimum Volatility ETF

VFMVBCboe

Overlap

31.0%by weight

Expense ratio

LGLV −0.01pt a year

LGLV0.12%VFMV0.13%

Avg volume · 30D

LGLV 1.8×the volume

LGLV27KVFMV15.2K

5Y return · a year

VFMV +1.2pt

LGLV+8.0%VFMV+9.2%

LGLV vs VFMV Performance

Nov 5, 2021 – Nov 5, 2026

+47.0%LGLV+55.4%VFMV

Expense ratio: LGLV 0.12%, better; VFMV 0.13%
Fund size: LGLV $1.23B; VFMV $460M
1Y total return: LGLV +13.1%; VFMV +14.8%, better
Yield (12M): LGLV 2.03%, better; VFMV 1.58%
Holdings: LGLV 174; VFMV 222
Avg volume (30D): LGLV 27K sh, better; VFMV 15.2K sh
NAV per share: LGLV $193.47; VFMV $149.97
52W range

ETF.net Grade

Pillar letters and Scores for LGLV, VFMV, with each pillar’s weight
Pillar	LGLV	VFMV
Cost30% weight	A90Higher	A80
Mission25% weight	A93Higher	F19
Risk15% weight	C54	A81Higher
Tradability15% weight	A81Higher	C40
Holdings10% weight	C51	B55Higher
Durability5% weight	A74Higher	B62

Rank among US Low Volatility Index funds

How we build Categories ›

Same Category. LGLV and VFMV 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 VFMV 9th of 16 funds in the US Low Volatility Index Category.

Rank 1ALGLVState Street SPDR US Large Cap Low Volatility Index ETFScore 79
Rank 2AQLVNorthern Trust US Quality Low Volatility ETFScore 76
Rank 8BSPLVInvesco S&P 500 Low Volatility ETFScore 56
Rank 9BVFMVVanguard U.S. Minimum Volatility ETFScore 55
Rank 10CCFAVictoryShares US 500 Volatility Wtd ETFScore 48

Our read on each fund

ETF.net Research

LGLVAState Street SPDR US Large Cap Low Volatility Index ETF

VFMVBVanguard U.S. Minimum Volatility 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.

VFMV No index here. Vanguard's quant desk builds this one itself, running a rules-based model over large, mid and small caps to assemble the mix expected to wobble least as a portfolio, not just the calmest names one by one.

Stated mandate

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

VFMV The fund invests in a diversified portfolio of U.S. stocks intended to have lower volatility than the broad U.S. equity market, while seeking long-term capital appreciation.

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.

VFMV 0.13% a year undercuts the typical fund in the US low-volatility group.
Fishes the whole US market, large, mid and small caps, and lands on roughly 180 names instead of a mega-cap-only defensive sleeve.vanguard.com vanguard.com 2
The model targets the portfolio's total expected volatility, so it accounts for how holdings move together rather than ranking individually calm stocks.vanguard.com vanguard.com 2
Run by Vanguard's Quantitative Equity Group since the 2018 launch, with a rules-based screen for diversification and for trimming less liquid stocks.vanguard.com

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

VFMV Active, with no published index behind it. Low volatility is whatever the advisor's model says it is, so holdings can look quite different from index-built rivals like USMV.vanguard.com
One of the smaller and thinner-traded funds in the low-vol aisle, so limit orders earn their keep on larger trades.
Minimum volatility aims to damp swings, not to sidestep losses. It stays fully invested in stocks, and defensive names behave differently from the broad market in both directions.vanguard.com

Full LGLV profile⁠

Full VFMV profile⁠

LGLV vs VFMV Holdings

How LGLV and VFMV differ

Overlap by weight

31.0%

Shared holdings make up 51.3% of LGLV and 42.5% of VFMV.

Level by level

Holdings68 in both31.0%
Sector11 Sectors58.8%
Countryby domicile97.4%
Asset classStocks100%

Sector

Sector weights in LGLV and VFMV, widest gap first
Sector	Gap	LGLV	VFMV
Technology	VFMV +25.2 points	6.6%	31.8%
Industrials	LGLV +14.5 points	21.6%	7.1%
Real Estate	LGLV +11.1 points	16.0%	4.9%
Communication	VFMV +6.4 points	3.9%	10.3%
Materials	LGLV +5.3 points	5.3%	0.0%
Utilities	LGLV +5.0 points	11.2%	6.2%
Health Care	VFMV +4.6 points	7.9%	12.5%
Financials	LGLV +3.5 points	11.5%	8.0%
Energy	VFMV +2.7 points	3.5%	6.2%
Consumer Staples	VFMV +2.3 points	6.2%	8.5%
Consumer Discretionary	LGLV +1.7 points	6.2%	4.5%

Country, concentration and asset class

Country by domicile

Country weights in LGLV and VFMV, widest gap first
Country	Gap	LGLV	VFMV
United States	VFMV +2.6 points	97.4%	100.0%
Switzerland	LGLV +0.9 points	0.9%	0.0%
United Kingdom	LGLV +0.7 points	0.7%	0.0%
Canada	LGLV +0.6 points	0.6%	0.0%
Israel	LGLV +0.4 points	0.4%	0.0%

Concentration

Weight in the 10 largest Holdings

LGLV15.9%
VFMV15.6%

Securities held

LGLV172
VFMV220

Asset class

LGLV: Stocks
VFMV: Stocks

Holdings

Only in LGLV104
In both68
Only in VFMV152

Only in LGLV

104 securities, 48.5% of LGLV by weight

Vivmark Residential1.44%
Public Service Enterprise Gp1.07%
Pepsico Inc0.97%
Colgate Palmolive Co0.96%
Automatic Data Processing0.92%
Dte Energy Company0.85%
Linde PLC0.84%
Paychex Inc0.81%
Vici Properties Inc0.80%
Darden Restaurants Inc0.79%
Ecolab Inc0.77%
Labcorp Holdings Inc0.75%
Amcor PLC0.66%
Packaging Corp of America0.66%
Restaurant Brands Intern0.66%
Nisource Inc0.64%
Amphenol Corp Class A0.64%
Broadridge Financial Solutio0.63%
Fortive Corp0.62%
Liberty Media Corp C0.61%
Danaher Corp0.61%
Wabtec Corp0.61%
Union Pacific Corp0.60%
Yum Brands Inc0.59%
Udr Inc0.58%
Vulcan Materials Co0.57%
General Mills Inc0.57%
Jacobs Solutions Inc0.55%
Illinois Tool Works0.55%
Stryker Corp0.55%
Fastenal Co0.54%
Essex Property Trust Inc0.53%
Fox Corp Class A0.53%
Snap On Inc0.52%
Csx Corp0.52%
Ww Grainger Inc0.52%
Nordson Corp0.52%
Idex Corp0.51%
Kimco Realty Corp0.51%
Heico Corp0.50%
Invitation Homes Inc0.50%
Ss+c Technologies Holdings0.49%
Allegion PLC0.49%
Omnicom Group0.49%
Lyondellbasell Indu Class A0.48%
Transdigm Group Inc0.47%
Otis Worldwide Corp0.47%
Genuine Parts Co0.47%
Martin Marietta Materials0.46%
Casey’s General Stores Inc0.45%

Only in VFMV

152 securities, 57.2% of VFMV by weight

Analog Devices Inc1.65%
Texas Instruments Inc1.63%
Chevron Corp1.55%
Cirrus Logic Inc1.43%
NVIDIA Corp1.42%
Astera Labs Inc1.37%
Merck & Co Inc1.29%
Ross Stores Inc1.26%
Cardinal Health Inc1.22%
QUALCOMM Inc1.20%
Atlanta Braves Holdings Inc1.09%
Meta Platforms Inc1.08%
Alphabet Inc1.07%
LTC Properties Inc1.02%
Monster Beverage Corp0.99%
Skyworks Solutions Inc0.99%
Lam Research Corp0.94%
Ensign Group Inc/The0.90%
EOG Resources Inc0.87%
HP Inc0.86%
Diebold Nixdorf Inc0.84%
Autodesk Inc0.83%
Hilton Worldwide Holdings Inc0.82%
Alarm.com Holdings Inc0.78%
Altria Group Inc0.78%
Church & Dwight Co Inc0.73%
Quest Diagnostics Inc0.71%
Broadcom Inc0.69%
American Electric Power Co Inc0.68%
PTC Inc0.63%
Qualys Inc0.63%
NVE Corp0.62%
Trimble Inc0.61%
Box Inc0.61%
Monolithic Power Systems Inc0.58%
Applied Materials Inc0.57%
Ventas Inc0.57%
McKesson Corp0.57%
Mondelez International Inc0.57%
American States Water Co0.56%
NetApp Inc0.56%
Phillips Edison & Co Inc0.53%
Cargurus Inc0.51%
Encompass Health Corp0.50%
Ingredion Inc0.49%
IDT Corp0.46%
Simon Property Group Inc0.45%
ACI Worldwide Inc0.44%
Grindr Inc0.41%
United Therapeutics Corp0.40%

Weight gaps

All 68 Holdings in both funds, largest gap first.

Holding weights in LGLV and VFMV, widest gap first
Holding	Gap	LGLV	VFMV
Welltower IncWELL	LGLV +4.45 points	4.52%	0.07%
Visa Inc Class A SharesV	LGLV +1.11 points	1.14%	0.03%
Exxonmobil Holdings CorpXOM	VFMV +1.03 points	0.55%	1.58%
Costco Wholesale CorpCOST	VFMV +1.02 points	0.50%	1.52%
Consolidated Edison IncED	LGLV +1.01 points	1.20%	0.19%
Travelers Cos Inc/TheTRV	LGLV +1.00 points	1.10%	0.10%
At+t IncT	VFMV +0.96 points	0.38%	1.34%
Realty Income CorpO	LGLV +0.90 points	1.63%	0.73%
Ameren CorporationAEE	LGLV +0.85 points	0.92%	0.07%
Mastercard Inc AMA	LGLV +0.85 points	0.93%	0.08%
Apple IncAAPL	VFMV +0.82 points	0.73%	1.55%
Microsoft CorpMSFT	VFMV +0.79 points	0.80%	1.59%
Aflac IncAFL	LGLV +0.73 points	0.84%	0.11%
Verizon Communications IncVZ	VFMV +0.71 points	0.60%	1.31%
McDonald’s CorpMCD	LGLV +0.69 points	0.80%	0.11%
Marsh & Mclennan CosMRSH	LGLV +0.65 points	1.01%	0.36%
Loews CorpL	VFMV +0.65 points	0.56%	1.21%
Verisign IncVRSN	LGLV +0.62 points	0.64%	0.02%
Ametek IncAME	VFMV +0.55 points	0.68%	1.23%
Johnson & JohnsonJNJ	VFMV +0.54 points	1.03%	1.57%
Becton Dickinson and CoBDX	LGLV +0.52 points	0.92%	0.40%
Williams Cos IncWMB	LGLV +0.47 points	0.55%	0.08%
Royalty Pharma PLC Class ARPRX	VFMV +0.47 points	0.87%	1.34%
Evergy IncEVRG	LGLV +0.47 points	0.58%	0.11%
Tjx Companies IncTJX	VFMV +0.47 points	0.58%	1.05%
AbbVie IncABBV	LGLV +0.46 points	0.72%	0.26%
Berkshire Hathaway Inc Class BBRK.B	VFMV +0.46 points	1.01%	1.47%
Cisco Systems IncCSCO	VFMV +0.46 points	0.89%	1.35%
Cms Energy CorpCMS	LGLV +0.44 points	0.64%	0.20%
Dolby Laboratories Inc Class ADLB	VFMV +0.42 points	0.18%	0.60%
Firstenergy CorpFE	LGLV +0.39 points	0.81%	0.42%
Duke Energy CorpDUK	LGLV +0.37 points	1.38%	1.01%
Centerpoint Energy IncCNP	LGLV +0.34 points	0.79%	0.45%
Willis Towers Watson PLCWTW	LGLV +0.32 points	0.83%	0.51%
Cencora IncCOR	LGLV +0.31 points	0.54%	0.23%
Republic Services IncRSG	VFMV +0.32 points	0.84%	1.16%
Northrop Grumman CorpNOC	LGLV +0.31 points	0.35%	0.04%
Cintas CorpCTAS	VFMV +0.29 points	0.64%	0.93%
Eastgroup Properties IncEGP	LGLV +0.28 points	0.31%	0.03%
Service Corp InternationalSCI	LGLV +0.28 points	0.31%	0.03%
Waste Management IncWM	VFMV +0.26 points	0.71%	0.97%
Cme Group IncCME	LGLV +0.25 points	1.14%	0.89%
Lockheed Martin CorpLMT	LGLV +0.25 points	0.36%	0.11%
Coca Cola Co/TheKO	VFMV +0.23 points	1.23%	1.46%
Chubb LtdCB	VFMV +0.22 points	0.93%	1.15%
Procter & Gamble Co/ThePG	LGLV +0.22 points	0.91%	0.69%
Abbott LaboratoriesABT	LGLV +0.21 points	0.68%	0.47%
News Corp Class ANWSA	VFMV +0.20 points	0.45%	0.65%
Idacorp IncIDA	LGLV +0.20 points	0.24%	0.04%
Medtronic PLCMDT	LGLV +0.19 points	0.60%	0.41%
Agree Realty CorpADC	VFMV +0.20 points	0.24%	0.44%
Southern Co/TheSO	VFMV +0.18 points	1.15%	1.33%
Alphabet Inc Class AGOOGL	LGLV +0.18 points	0.32%	0.14%
Kinder Morgan IncKMI	LGLV +0.17 points	0.67%	0.50%
Motorola Solutions IncMSI	VFMV +0.14 points	0.59%	0.73%
Antero Midstream CorpAM	LGLV +0.14 points	0.19%	0.05%
Cheniere Energy IncLNG	LGLV +0.13 points	0.80%	0.67%
Dt Midstream IncDTM	LGLV +0.13 points	0.35%	0.22%
Markel Group IncMKL	LGLV +0.13 points	0.72%	0.59%
Stag Industrial IncSTAG	LGLV +0.12 points	0.21%	0.09%
Amdocs LtdDOX	LGLV +0.12 points	0.14%	0.02%
Roper Technologies IncROP	VFMV +0.06 points	0.94%	1.00%
General Dynamics CorpGD	VFMV +0.05 points	0.95%	1.00%
Rtx CorpRTX	LGLV +0.05 points	0.50%	0.45%
Teledyne Technologies IncTDY	VFMV +0.05 points	0.40%	0.45%
Sei Investments CompanySEIC	LGLV +0.03 points	0.32%	0.29%
O Reilly Automotive IncORLY	VFMV +0.01 points	0.53%	0.54%
Walmart IncWMT	LGLV +0.01 points	0.72%	0.71%

All 172 LGLV holdings⁠All 218 VFMV 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 VFMV Cost

Overpaying VFMV vs LGLV

$206

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

LGLV 0.12%
$2,520
VFMV 0.13%
$2,726

Amount$10,000

Years30 years

Cost over time

LGLV 0.12%
VFMV 0.13%
Overpaying

Year by year

Year	LGLV	VFMV	Overpaying
10	$220	$238	$18
20	$859	$930	$71
30	$2,520	$2,726	$206

Expense ratio

0.12%LGLV, cheaper
0.13%VFMV

LGLV0.12%VFMV0.13%

0.08%0.35%

Middle half of US Low Volatility Index funds
Median 0.20%

LGLV 2nd cheapest of 16 funds

VFMV 4th cheapest of 16 funds

LGLV vs VFMV Dividends

Last 12 months to Nov 5, 2026

Yield (12M): LGLV 2.03%, better; VFMV 1.58%
Payout (12M): LGLV $3.88; VFMV $2.30
Last payment: LGLV $0.99; VFMV $0.34
Ex-dividend: LGLV Sep 21, 2026; VFMV Sep 23, 2026
Paid on: LGLV Sep 23, 2026; VFMV Sep 25, 2026
Frequency: LGLV Quarterly; VFMV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

LGLVQuarterly · 39 paymentsAll LGLV payments⁠

VFMVQuarterly · 34 paymentsAll VFMV payments⁠

LGLV vs VFMV Risk

Fall from peak · 5 years

LGLV
VFMV

Risk facts

VolatilityStd dev, 3 years: LGLV 11.8%VFMV 9.8%, better
Return per unit of riskSharpe ratio, 3 years: LGLV 0.86VFMV 1.26, better
Worst fallMax drawdown, 5 years: LGLV −17.5%VFMV −15.4%, better
Market sensitivityBeta, 5 years: LGLV 0.48VFMV 0.55; Market = 1

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