BSMAX vs. BSPPX
BSMAX (iShares Russell Small/Mid-Cap Index Fund Investor A Shares) and BSPPX (iShares S&P 500 Index Fund Investor P Shares) are both mutual funds - BSMAX is a Small Cap Blend Equities fund tracking the Russell 2500 Index, while BSPPX is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, BSMAX returned 7.90%/yr vs 12.20%/yr for BSPPX. Their correlation of 0.85 means they have usually moved in the same direction. BSMAX charges 0.37%/yr vs 0.35%/yr for BSPPX.
Performance
BSMAX vs. BSPPX - Performance Comparison
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Returns By Period
In the year-to-date period, BSMAX achieves a 19.75% return, which is significantly higher than BSPPX's 8.77% return.
BSMAX
- 1D
- 0.69%
- 1M
- -1.62%
- 6M
- 12.24%
- YTD
- 19.75%
- 1Y
- 28.41%
- 3Y*
- 15.56%
- 5Y*
- 7.90%
- 10Y*
- 11.09%
- ALL TIME*
- 10.40%
BSPPX
- 1D
- 0.01%
- 1M
- 0.85%
- 6M
- 6.65%
- YTD
- 8.77%
- 1Y
- 16.96%
- 3Y*
- 18.54%
- 5Y*
- 12.20%
- 10Y*
- —
- ALL TIME*
- 14.06%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
BSMAX vs. BSPPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BSMAX iShares Russell Small/Mid-Cap Index Fund Investor A Shares | 19.75% | 11.59% | 11.78% | 16.81% | -18.58% | 17.69% | 20.06% | 27.38% | -18.52% |
BSPPX iShares S&P 500 Index Fund Investor P Shares | 8.77% | 17.46% | 24.54% | 25.85% | -18.40% | 28.23% | 18.05% | 31.02% | -13.57% |
Correlation
The correlation between BSMAX and BSPPX is 0.80, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.80 |
Correlation (3Y) Balances recent behavior with more history. | 0.80 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.85 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2018 | 0.85 |
The correlation between BSMAX and BSPPX has been stable across timeframes, ranging from 0.80 to 0.85 - a consistent structural relationship.
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Return for Risk
BSMAX vs. BSPPX — Risk / Return Rank
BSMAX
BSPPX
BSMAX vs. BSPPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell Small/Mid-Cap Index Fund Investor A Shares (BSMAX) and iShares S&P 500 Index Fund Investor P Shares (BSPPX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BSMAX | BSPPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.24 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.98 | 1.91 | +1.08 |
| Martin ratioReturn relative to average drawdown | 11.22 | 8.22 | +3.01 |
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Drawdowns
BSMAX vs. BSPPX - Drawdown Comparison
The maximum BSMAX drawdown since its inception was -41.38%, which is greater than BSPPX's maximum drawdown of -33.76%. Use the drawdown chart below to compare losses from any high point for BSMAX and BSPPX.
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Drawdown Indicators
| BSMAX | BSPPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.38% | -33.76% | -7.62% |
Max Drawdown (1Y)Largest decline over 1 year | -9.46% | -8.95% | -0.51% |
Max Drawdown (3Y)Largest decline over 3 years | -25.54% | -18.77% | -6.77% |
Max Drawdown (5Y)Largest decline over 5 years | -28.48% | -24.70% | -3.78% |
Max Drawdown (10Y)Largest decline over 10 years | -41.38% | — | — |
Current DrawdownCurrent decline from peak | -2.28% | -2.48% | +0.20% |
Average DrawdownAverage peak-to-trough decline | -7.63% | -5.16% | -2.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.52% | 2.07% | +0.45% |
Volatility
BSMAX vs. BSPPX - Volatility Comparison
iShares Russell Small/Mid-Cap Index Fund Investor A Shares (BSMAX) has a higher volatility of 3.46% compared to iShares S&P 500 Index Fund Investor P Shares (BSPPX) at 2.94%. This indicates that BSMAX's price experiences larger fluctuations and is considered to be riskier than BSPPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSMAX | BSPPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.46% | 2.94% | +0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 13.41% | 9.85% | +3.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.77% | 12.68% | +5.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.98% | 16.97% | +4.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.58% | 19.64% | +1.94% |
BSMAX vs. BSPPX - Expense Ratio Comparison
BSMAX has a 0.37% expense ratio, which is higher than BSPPX's 0.35% expense ratio.
Dividends
BSMAX vs. BSPPX - Dividend Comparison
BSMAX's dividend yield for the trailing twelve months is around 1.99%, more than BSPPX's 1.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSMAX iShares Russell Small/Mid-Cap Index Fund Investor A Shares | 1.99% | 2.67% | 1.79% | 1.14% | 4.67% | 4.55% | 4.26% | 2.62% | 4.07% | 2.61% | 1.34% | 0.59% |
BSPPX iShares S&P 500 Index Fund Investor P Shares | 1.38% | 1.43% | 1.12% | 1.22% | 1.67% | 1.53% | 1.38% | 1.70% | 1.35% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BSMAX and BSPPX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BSMAX has higher volatility (3.46%) compared to BSPPX (2.94%). In terms of maximum drawdown, BSMAX dropped -41.38% vs BSPPX's -33.76%.
BSMAX currently has the higher Sharpe Ratio (1.59 vs 1.35), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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