Dividend comparison
VB vs SPSM: Which Is Better?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Vanguard Morningstar Small-Cap ETF and State Street SPDR Portfolio S&P 600 Small Cap ETF, side by side. Updated October 21, 2026.
VB vs SPSM: key differences
The short answer, from the latest data on this page.
- Fees. Both charge about 0.03% a year, so cost is not what separates them.
- Income. SPSM pays more income, yielding 1.54% over the last twelve months versus 1.27% for VB. That is about $27 more a year on $10,000. Both pay quarterly.
- Performance. Over the last 5 years, VB returned 33.5% versus 31.7% for SPSM, with dividends reinvested. $10,000 would have grown to $13,349 in VB and $13,165 in SPSM.
- Risk. Their worst declines over the last 5 years were similar: -28.2% for VB and -27.9% for SPSM from peak to trough.
- Diversification. VB holds 1,357 positions and SPSM holds 607. The ten largest positions make up 5.0% of VB and 5.3% of SPSM.
- Dividend growth. VB grew its yearly payout 5.3% a year over the last 4 years, versus 4.8% for SPSM.
- Size. VB is the larger fund with $175.8 billion in assets, against $15.5 billion for SPSM.
Bottom line: VB fits better if you care most about broader diversification. SPSM fits better if you care most about more income today.
Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
| Metric | VB Vanguard Morningstar Small-Cap ETF | SPSM State Street SPDR Portfolio S&P 600 Small Cap ETF |
|---|---|---|
| Dividend yield (TTM) | 1.27% | 1.54% |
| Dividend / share (TTM) | $3.65 | $0.82 |
| Payout frequency | Quarterly | Quarterly |
| Last dividend | $0.8488 on Sep 30, 2026 | $0.2202 on Sep 23, 2026 |
| Ex-dividend date | Sep 28, 2026 | Sep 21, 2026 |
| Dividend growth (CAGR) | 5.3% over 4 yrs | 4.8% over 4 yrs |
| Price | $288.04 | $53.53 |
| Dividend growth streak | 1 year | — |
| Beta | 1.07 | 1.04 |
| Max drawdown (5Y) | -28.2% | -27.9% |
| Market cap | $175.84B | $15.52B |
| Exchange | AMEX | AMEX |
| Expense ratio | 0.03% | 0.03% |
| Assets under management | $175.80B | $15.53B |
| Number of holdings | 1357 | 607 |
| Top 10 concentration | 5.0% | 5.3% |
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.
VB
$10.56/mo
$127 /yr at 1.27% yield
SPSM
$12.80/mo
$154 /yr at 1.54% yield
Dividend history
Total dividends paid per share in each calendar year. VB pays quarterly; SPSM pays quarterly.
| Year | VB | SPSM |
|---|---|---|
| 2025 | $3.4386 | $0.7571 |
| 2024 | $3.1318 | $0.8294 |
| 2023 | $3.3170 | $0.6797 |
| 2022 | $2.9121 | $0.5088 |
| 2021 | $2.7956 | $0.6276 |
Strategy: Small and mid cap
Funds that hold companies below the large-cap tier, where there is more room for growth and less coverage by analysts. Small-cap indexes differ meaningfully: some screen for profitability, some include every listed company, and value-tilted funds lean toward the cheapest names. Those rules drive more of the difference between funds than fees do.
Smaller companies are more sensitive to recessions and borrowing costs, so drawdowns run deeper than in large-cap funds.
Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $13,349 in VB and $13,165 in SPSM.
| Period | VB | SPSM |
|---|---|---|
| 1 month | -0.54% | -0.89% |
| 3 months | -2.76% | -4.73% |
| Year to date | 11.67% | 15.54% |
| 1 year | 12.20% | 16.80% |
| 3 years | 64.64% | 60.41% |
| 5 years | 33.49% | 31.65% |
- VB
- SPSM
Both series indexed to 100 on 2021-10-20 using the adjusted closing price series. Past performance does not guarantee future results.
Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
- VB
- SPSM
VB vs SPSM holdings overlap
At least 0% overlap by weight, with 0 holdings in common. Overlap adds up the smaller of the two weights for every stock both funds own, so 100% would mean identical portfolios.
Quick verdict
VB fits better if you care most about broader diversification. SPSM fits better if you care most about more income today. Model the holding inside your real portfolio before deciding.
Still deciding? Compare them in your portfolio
Forecast dividend income, track payouts, and see how VB vs SPSM fits with the rest of your holdings. Free to start — no credit card required for the trial.
Frequently asked questions
Is VB or SPSM better for dividend income?
It depends on your goals. VB currently yields 1.27% Trailing Twelve Months (TTM) while SPSM yields 1.54%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between VB and SPSM?
Vanguard Morningstar Small-Cap ETF (VB) is an ETF listed on AMEX. State Street SPDR Portfolio S&P 600 Small Cap ETF (SPSM) is an ETF listed on AMEX. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, VB or SPSM?
They cost about the same: VB charges 0.03% a year and SPSM charges 0.03%.
Which has performed better, VB or SPSM?
Over the last 5 years, VB has the higher total return with dividends reinvested: VB returned 33.5% and SPSM returned 31.7%. Past performance does not predict future returns.
Which is riskier, VB or SPSM?
Measured by the worst peak-to-trough decline over the last five years, VB has been riskier: VB fell as much as 28.2% and SPSM as much as 27.9%. Their betas are 1.07 and 1.04.
How often do VB and SPSM pay dividends?
Both pay quarterly. The most recent payments were $0.8488 for VB and $0.2202 for SPSM.
How much income does $10,000 in VB vs SPSM generate?
At current TTM yields, $10,000 in VB would generate roughly $10.56 per month ($127 annually). The same amount in SPSM would produce about $12.80 per month ($154 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both VB and SPSM?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare VB vs SPSM with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how VB and SPSM fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.
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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.