LGLV vs VSMV: Grades, Fees and Holdings Compared

State Street SPDR US Large Cap Low Volatility Index ETF

LGLVANYSE Arca

VictoryShares US Multi-Factor Minimum Volatility ETF

VSMVDNasdaq

Overlap

9.6%by weight

Expense ratio

LGLV −0.23pt a year

LGLV0.12%VSMV0.35%

Avg volume · 30D

LGLV 5.6×the volume

LGLV27KVSMV4.81K

5Y return · a year

VSMV +2.5pt

LGLV+8.1%VSMV+10.6%

LGLV vs VSMV Performance

Nov 9, 2021 – Nov 9, 2026

+47.4%LGLV+65.8%VSMV

Expense ratio: LGLV 0.12%, better; VSMV 0.35%
Fund size: LGLV $1.21B; VSMV $163M
1Y total return: LGLV +13.1%; VSMV +17.1%, better
Yield (12M): LGLV 2.02%, better; VSMV 1.31%
Holdings: LGLV 174; VSMV 62
Avg volume (30D): LGLV 27K sh, better; VSMV 4.81K sh
NAV per share: LGLV $189.34; VSMV $60.54
52W range

ETF.net Grade

Pillar letters and Scores for LGLV, VSMV, with each pillar’s weight
Pillar	LGLV	VSMV
Cost30% weight	A90Higher	F7
Mission25% weight	A93Higher	A71
Risk15% weight	C51	B69Higher
Tradability15% weight	A75Higher	C41
Holdings10% weight	C53Higher	D26
Durability5% weight	A73Higher	F18

Rank among US Low Volatility Index funds

How we build Categories ›

Same Category. LGLV and VSMV 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 VSMV 16th 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 75
Rank 15CQQLVInvesco QQQ Low Volatility ETFScore 40
Rank 16DVSMVVictoryShares US Multi-Factor Minimum Volatility ETFScore 39

Our read on each fund

ETF.net Research

LGLVAState Street SPDR US Large Cap Low Volatility Index ETF

VSMVDVictoryShares US Multi-Factor 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.

VSMV Most minimum-volatility funds hand the whole market to a volatility optimizer. VSMV screens first, keeping stocks that rate well on earnings quality, momentum, profitability and valuation, then optimizes only those survivors for the smoothest ride.

Stated mandate

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

VSMV The Fund seeks to track the Nasdaq Victory US Multi-Factor Minimum Volatility Index before fees and expenses.

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.

VSMV Two-step build: a fundamental factor screen picks the roster, then weights are set by how the chosen stocks correlate with each other, inside sector and position constraints.vcm.com
Roughly 60 large- and mid-cap names, so the low-volatility tilt shows up in the portfolio instead of being diluted across hundreds of positions.vcm.com
Pays monthly, a cadence more common in bond funds than equity ones. The index reconstitutes semi-annually, so the roster is not churning every month.vcm.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

VSMV 0.42% a year is roughly double the low-volatility category median, and several times what QLV (0.09%) or LGLV (0.12%) charge for a similar brief.
Small and thinly traded next to shelf giants like USMV, so bid-ask spreads can run wider and large orders move the price more.
Screening on fundamentals before optimizing means the holdings can look quite different from a plain minimum-volatility index in any given stretch.vcm.com

Full LGLV profile⁠

Full VSMV profile⁠

LGLV vs VSMV Holdings

How LGLV and VSMV differ

Overlap by weight

9.6%

Shared holdings make up 44.0% of VSMV and 11.9% of LGLV.

Level by level

Holdings17 in both9.6%
Sector11 Sectors54.1%
Countryby domicile97.0%
Asset classStocks100%

Sector

Sector weights in LGLV and VSMV, widest gap first
Sector	Gap	LGLV	VSMV
Technology	VSMV +30.1 points	6.2%	36.3%
Real Estate	LGLV +16.1 points	16.4%	0.3%
Utilities	LGLV +11.1 points	11.1%	0.0%
Industrials	LGLV +9.6 points	21.4%	11.8%
Consumer Staples	VSMV +5.7 points	6.4%	12.1%
Energy	VSMV +5.6 points	3.0%	8.6%
Materials	LGLV +4.0 points	5.3%	1.3%
Health Care	VSMV +3.8 points	8.0%	11.8%
Financials	LGLV +2.9 points	11.7%	8.8%
Consumer Discretionary	LGLV +2.1 points	6.4%	4.3%
Communication	VSMV +0.8 points	4.0%	4.8%

Country, concentration and asset class

Country by domicile

Country weights in LGLV and VSMV, widest gap first
Country	Gap	LGLV	VSMV
China	VSMV +3.1 points	0.0%	3.0%
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%
Other countries (2)	LGLV +0.8 points	97.8%	97.0%

Concentration

Weight in the 10 largest Holdings

LGLV16.1%
VSMV41.8%

Securities held

LGLV172
VSMV61

Asset class

LGLV: Stocks
VSMV: Stocks

Holdings

Only in LGLV155
In both17
Only in VSMV44

Only in LGLV

155 securities, 88.0% of LGLV by weight

Welltower Inc4.56%
Realty Income Corp1.67%
Vivmark Residential1.52%
Duke Energy Corp1.39%
Coca Cola Co/The1.25%
Consolidated Edison Inc1.21%
Southern Co/The1.16%
Cme Group Inc1.16%
Visa Inc Class A Shares1.13%
Public Service Enterprise Gp1.09%
Berkshire Hathaway Inc Class B1.02%
Marsh & Mclennan Cos1.01%
Pepsico Inc0.98%
Colgate Palmolive Co0.96%
Becton Dickinson and Co0.96%
Ameren Corporation0.94%
General Dynamics Corp0.94%
Roper Technologies Inc0.93%
Chubb Ltd0.92%
Royalty Pharma PLC Class A0.89%
Aflac Inc0.85%
Dte Energy Company0.85%
Linde PLC0.85%
Willis Towers Watson PLC0.83%
Cisco Systems Inc0.83%
Firstenergy Corp0.81%
Centerpoint Energy Inc0.80%
McDonald’s Corp0.80%
Vici Properties Inc0.80%
Darden Restaurants Inc0.79%
Microsoft Corp0.78%
Cheniere Energy Inc0.78%
Labcorp Holdings Inc0.76%
Ecolab Inc0.75%
AbbVie Inc0.73%
Markel Group Inc0.73%
Waste Management Inc0.72%
Walmart Inc0.71%
Liberty Media Corp C0.67%
Restaurant Brands Intern0.67%
Ametek Inc0.67%
Abbott Laboratories0.66%
Packaging Corp of America0.65%
Kinder Morgan Inc0.65%
Broadridge Financial Solutio0.65%
Cms Energy Corp0.64%
Nisource Inc0.64%
Cintas Corp0.64%
Verisign Inc0.64%
Amcor PLC0.63%

Only in VSMV

44 securities, 55.8% of VSMV by weight

Intuit Inc3.80%
Altria Group Inc.3.32%
Bristol-Myers Squibb Co3.13%
Adobe Inc3.09%
Salesforce Inc3.01%
Te Connectivity PLC2.99%
Qualcomm Inc.2.68%
Cboe Global Markets Inc2.51%
Hartford Insurance Group2.41%
Kla Corp2.36%
Kroger Co/The2.36%
Lam Research Corp2.17%
Netapp Inc2.03%
Conocophillips1.92%
Quest Diagnostics Inc.1.92%
T-Mobile Us Inc1.66%
Chevron Corp1.34%
Sandisk Corp/De1.34%
Cf Industries Holdings1.14%
Hca Healthcare Inc1.05%
Medpace Holdings Inc1.03%
Godaddy Inc - Class A0.97%
New York Times Co/The0.70%
Parker Hannifin Corp.0.68%
Crown Holdings Inc.0.50%
Diamondback Energy Inc0.50%
Cigna Group/The0.50%
Brinker International0.42%
Expeditors Int'l of Wash0.32%
Tetra Tech Inc0.30%
Phillips 660.29%
Brown-Forman Corp. Class B0.29%
PayPal Holdings Inc0.28%
Gilead Sciences Inc.0.28%
Host Hotels & Resorts Inc0.27%
Jm Smucker Co0.27%
Toro Co.0.27%
Apa Corp0.27%
Newmont Corp0.26%
Delta Air Lines Inc0.26%
Ovintiv Inc0.26%
Marathon Petroleum Corp.0.23%
Mueller Industries Inc.0.22%
Rockwell Automation Inc.0.21%

Weight gaps

All 17 Holdings in both funds, largest gap first.

Holding weights in LGLV and VSMV, widest gap first
Holding	Gap	LGLV	VSMV
Apple IncAAPL	VSMV +9.63 points	0.73%	10.36%
Exxonmobil Holdings CorpXOM	VSMV +3.31 points	0.55%	3.86%
Lockheed Martin CorpLMT	VSMV +3.14 points	0.35%	3.49%
Johnson & JohnsonJNJ	VSMV +3.01 points	1.05%	4.06%
Tjx Companies IncTJX	VSMV +2.68 points	0.56%	3.24%
Costco Wholesale CorpCOST	VSMV +2.60 points	0.52%	3.12%
Travelers Cos Inc/TheTRV	VSMV +2.32 points	1.08%	3.40%
Procter & Gamble Co/ThePG	VSMV +2.10 points	0.92%	3.02%
Verizon Communications IncVZ	VSMV +2.00 points	0.61%	2.61%
Union Pacific CorpUNP	VSMV +1.88 points	0.57%	2.45%
Republic Services IncRSG	VSMV +1.72 points	0.87%	2.59%
Automatic Data ProcessingADP	LGLV +0.65 points	0.94%	0.29%
Mastercard Inc AMA	LGLV +0.63 points	0.92%	0.29%
Paychex IncPAYX	LGLV +0.52 points	0.82%	0.30%
Illinois Tool WorksITW	LGLV +0.27 points	0.54%	0.27%
Nordson CorpNDSN	LGLV +0.12 points	0.49%	0.37%
L3HARRIS Technologies IncLHX	LGLV +0.07 points	0.34%	0.27%

All 172 LGLV holdings⁠All 63 VSMV 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 VSMV Cost

Overpaying VSMV vs LGLV

$4,606

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

LGLV 0.12%
$2,520
VSMV 0.35%
$7,126

Amount$10,000

Years30 years

Cost over time

LGLV 0.12%
VSMV 0.35%
Overpaying

Year by year

Year	LGLV	VSMV	Overpaying
10	$220	$634	$414
20	$859	$2,454	$1,595
30	$2,520	$7,126	$4,606

Expense ratio

0.12%LGLV, cheaper
0.35%VSMV

LGLV0.12%VSMV0.35%

0.08%0.35%

Middle half of US Low Volatility Index funds
Median 0.20%

LGLV 2nd cheapest of 16 funds

VSMV 14th cheapest of 16 funds

LGLV vs VSMV Dividends

Last 12 months to Nov 9, 2026

Yield (12M): LGLV 2.02%, better; VSMV 1.31%
Payout (12M): LGLV $3.88; VSMV $0.81
Last payment: LGLV $0.99; VSMV $0.03
Ex-dividend: LGLV Sep 21, 2026; VSMV Nov 6, 2026
Paid on: LGLV Sep 23, 2026; VSMV Nov 9, 2026
Frequency: LGLV Quarterly; VSMV Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

LGLVQuarterly · 15 paymentsAll LGLV payments⁠

VSMVMonthly · 47 paymentsAll VSMV payments⁠

LGLV vs VSMV Risk

Fall from peak · 5 years

LGLV
VSMV

Risk facts

VolatilityStd dev, 3 years: LGLV 11.8%VSMV 9.4%, better
Return per unit of riskSharpe ratio, 3 years: LGLV 0.86VSMV 1.41, better
Worst fallMax drawdown, 5 years: LGLV −17.5%, betterVSMV −18.0%
Market sensitivityBeta, 5 years: LGLV 0.48VSMV 0.56; Market = 1

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