BUYO vs. ISCB

Last updated Jul 1, 2026

BUYO (KraneShares Man Buyout Beta Index ETF) and ISCB (iShares Morningstar Small-Cap ETF) are both Small Cap Blend Equities funds - BUYO tracks the Man Buyout Beta Index while ISCB tracks the Morningstar US Small Cap Extended Index. Both are passively managed. Over the past year, BUYO returned 34.64% vs 31.43% for ISCB. Their correlation of 0.95 suggests significant overlap in exposure. BUYO charges 0.89%/yr vs 0.04%/yr for ISCB.

Performance

BUYO vs. ISCB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares Man Buyout Beta Index ETF (BUYO) and iShares Morningstar Small-Cap ETF (ISCB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BUYO achieves a 21.28% return, which is significantly higher than ISCB's 16.82% return.

BUYO

• 1D: 1.25%
• 1M: 6.83%
• YTD: 21.28%
• 6M: 20.02%
• 1Y: 34.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ISCB

• 1D: 0.58%
• 1M: 4.66%
• YTD: 16.82%
• 6M: 15.76%
• 1Y: 31.43%
• 3Y*: 16.60%
• 5Y*: 6.62%
• 10Y*: 9.92%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BUYO vs. ISCB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BUYO KraneShares Man Buyout Beta Index ETF	21.28%	10.94%	0.16%
ISCB iShares Morningstar Small-Cap ETF	16.82%	12.46%	1.88%

Correlation

The correlation between BUYO and ISCB is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (All Time) Calculated using the full available price history since Oct 8, 2024	0.95

The correlation between BUYO and ISCB has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

Return for Risk

BUYO vs. ISCB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BUYO

BUYO Risk / Return Rank: 72
BUYO Sharpe Ratio Rank: 70
BUYO Sortino Ratio Rank: 71
BUYO Omega Ratio Rank: 63
BUYO Calmar Ratio Rank: 78
BUYO Martin Ratio Rank: 77

ISCB

ISCB Risk / Return Rank: 71
ISCB Sharpe Ratio Rank: 69
ISCB Sortino Ratio Rank: 70
ISCB Omega Ratio Rank: 63
ISCB Calmar Ratio Rank: 77
ISCB Martin Ratio Rank: 75

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BUYO vs. ISCB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares Man Buyout Beta Index ETF (BUYO) and iShares Morningstar Small-Cap ETF (ISCB). 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.

	BUYO	ISCB	Difference
Sharpe ratio: Return per unit of total volatility	1.92	1.90	+0.03
Sortino ratio: Return per unit of downside risk	2.72	2.71	+0.01
Omega ratio: Gain probability vs. loss probability	1.32	1.32	0.00
Calmar ratio: Return relative to maximum drawdown	3.45	3.36	+0.09
Martin ratio: Return relative to average drawdown	12.59	12.01	+0.58

BUYO vs. ISCB - Sharpe Ratio Comparison

The current BUYO Sharpe Ratio is 1.92, which is comparable to the ISCB Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of BUYO and ISCB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BUYO vs. ISCB - Drawdown Comparison

The maximum BUYO drawdown since its inception was -28.01%, smaller than the maximum ISCB drawdown of -61.25%. Use the drawdown chart below to compare losses from any high point for BUYO and ISCB.

Drawdown Indicators

	BUYO	ISCB	Difference
Max Drawdown Largest peak-to-trough decline	-28.01%	-61.25%	+33.24%
Max Drawdown (1Y) Largest decline over 1 year	-10.07%	-9.39%	-0.68%
Max Drawdown (3Y) Largest decline over 3 years	—	-26.22%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-29.94%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-44.18%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.57%	-9.77%	+4.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.76%	2.62%	+0.14%

Volatility

BUYO vs. ISCB - Volatility Comparison

KraneShares Man Buyout Beta Index ETF (BUYO) has a higher volatility of 4.98% compared to iShares Morningstar Small-Cap ETF (ISCB) at 4.46%. This indicates that BUYO's price experiences larger fluctuations and is considered to be riskier than ISCB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BUYO	ISCB	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.98%	4.46%	+0.52%
Volatility (6M) Calculated over the trailing 6-month period	13.70%	11.71%	+1.99%
Volatility (1Y) Calculated over the trailing 1-year period	18.08%	16.62%	+1.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.51%	21.41%	+0.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.51%	22.63%	-1.12%

BUYO vs. ISCB - Expense Ratio Comparison

BUYO has a 0.89% expense ratio, which is higher than ISCB's 0.04% expense ratio.

Dividends

BUYO vs. ISCB - Dividend Comparison

BUYO's dividend yield for the trailing twelve months is around 0.01%, less than ISCB's 1.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BUYO KraneShares Man Buyout Beta Index ETF	0.01%	0.01%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ISCB iShares Morningstar Small-Cap ETF	1.26%	1.38%	1.31%	1.49%	1.63%	1.26%	1.26%	1.25%	1.60%	1.24%	1.58%	1.40%

Frequently Asked Questions

Can I hold both BUYO and ISCB in my portfolio?

With a correlation of 0.94, BUYO and ISCB move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BUYO or ISCB?

BUYO has higher volatility (4.98%) compared to ISCB (4.46%). In terms of maximum drawdown, BUYO dropped -28.01% vs ISCB's -61.25%.

Which ETF is better, BUYO or ISCB?

On 1-year performance, BUYO leads with 34.64% vs 31.43% for ISCB. On fees, ISCB is cheaper at 0.04% per year. On volatility, ISCB has been the lower-risk option at 4.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BUYO or ISCB?

Over the 1-year period, BUYO has performed better with a 34.64% return vs 31.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BUYO or ISCB?

ISCB is cheaper with a 0.04% expense ratio, compared with 0.89% for BUYO.

Which ETF pays a higher dividend yield, BUYO or ISCB?

ISCB has the higher dividend yield at 1.26%, compared with 0.01% for BUYO.

What is the main difference between BUYO and ISCB?

BUYO tracks Man Buyout Beta Index, while ISCB tracks Morningstar US Small Cap Extended Index. They also come from different issuers: KraneShares and iShares. Their fees differ too: 0.89% for BUYO and 0.04% for ISCB.

Which has better risk-adjusted returns?

BUYO currently has the higher Sharpe Ratio (1.92 vs 1.90), 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.