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ESML vs. VBK
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ESML vs. VBK

Last updated Aug 2, 2026
Documentation

ESML (iShares ESG Aware MSCI USA Small-Cap ETF) and VBK (Vanguard Small-Cap Growth ETF) are both Small Cap Growth Equities funds - ESML tracks the MSCI USA Small Cap Extended ESG Focus Index while VBK tracks the CRSP US Small Cap Growth Index. Both are passively managed. Over the past 5 years, ESML returned 7.63%/yr vs 4.14%/yr for VBK. Their correlation of 0.93 means they have usually moved in the same direction. ESML charges 0.17%/yr vs 0.05%/yr for VBK.

Performance

ESML vs. VBK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares ESG Aware MSCI USA Small-Cap ETF (ESML) and Vanguard Small-Cap Growth ETF (VBK). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ESML achieves a 17.35% return, which is significantly higher than VBK's 12.94% return.

ESML

1D
-0.17%
1M
-2.10%
6M
11.46%
YTD
17.35%
1Y
31.31%
3Y*
14.39%
5Y*
7.63%
10Y*
—
ALL TIME*
10.66%

VBK

1D
-0.27%
1M
-4.86%
6M
9.06%
YTD
12.94%
1Y
23.19%
3Y*
13.33%
5Y*
4.14%
10Y*
10.90%
ALL TIME*
9.75%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

ESML

iShares ESG Aware MSCI USA Small-Cap ETF
$4.23M$5.41M$10.96M

VBK

Vanguard Small-Cap Growth ETF
$67.40M$71.27M$83.02M

ESML vs. VBK - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
ESML
iShares ESG Aware MSCI USA Small-Cap ETF		17.35%10.62%12.01%17.27%-17.28%19.28%19.56%29.12%-10.72%
VBK
Vanguard Small-Cap Growth ETF		12.94%8.50%16.50%21.45%-28.44%5.66%35.44%32.75%-8.05%

Correlation

The correlation between ESML and VBK is 0.93, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.93

Correlation (3Y)
Balances recent behavior with more history.

0.95

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.95

Correlation (All Time)
Calculated using the full available price history since Apr 12, 2018

0.93

The correlation between ESML and VBK has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

ESML vs. VBK - Sectors Allocation Comparison

Sectors
ESML
VBK

Technology

21.1%
27.1%

Industrials

17.7%
23.4%

Healthcare

13.8%
17.9%

Financial Services

13.6%
5.7%

Consumer Cyclical

10.8%
8.9%

Real Estate

6.5%
3.7%

Energy

4.4%
3.4%

Basic Materials

3.6%
3.1%

Consumer Defensive

3.4%
2.0%

Utilities

2.6%
1.1%

Communication Services

2.4%
3.6%

Technology

ESML
21.1%
VBK
27.1%

Industrials

ESML
17.7%
VBK
23.4%

Healthcare

ESML
13.8%
VBK
17.9%

Financial Services

ESML
13.6%
VBK
5.7%

Consumer Cyclical

ESML
10.8%
VBK
8.9%

Real Estate

ESML
6.5%
VBK
3.7%

Energy

ESML
4.4%
VBK
3.4%

Basic Materials

ESML
3.6%
VBK
3.1%

Consumer Defensive

ESML
3.4%
VBK
2.0%

Utilities

ESML
2.6%
VBK
1.1%

Communication Services

ESML
2.4%
VBK
3.6%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares ESG Aware MSCI USA Small-Cap ETF

Vanguard Small-Cap Growth ETF

Often compared with ESML:
ESML vs. ISCGESML vs. XJRESML vs. FNDAESML vs. CWSESML vs. AVUVESML vs. VOOESML vs. SCHD
Often compared with VBK:
VBK vs. VBVBK vs. VBRVBK vs. AVUVVBK vs. VOOVBK vs. IJRVBK vs. SCHAVBK vs. VIOG

Return for Risk

ESML vs. VBK — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
ESML
ESML Risk / Return Rank: 7979
Overall Rank
ESML Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
ESML Sortino Ratio Rank: 7878
Sortino Ratio Rank
ESML Omega Ratio Rank: 7171
Omega Ratio Rank
ESML Calmar Ratio Rank: 8585
Calmar Ratio Rank
ESML Martin Ratio Rank: 8383
Martin Ratio Rank
VBK
VBK Risk / Return Rank: 4646
Overall Rank
VBK Sharpe Ratio Rank: 4242
Sharpe Ratio Rank
VBK Sortino Ratio Rank: 4242
Sortino Ratio Rank
VBK Omega Ratio Rank: 3939
Omega Ratio Rank
VBK Calmar Ratio Rank: 5353
Calmar Ratio Rank
VBK Martin Ratio Rank: 5454
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ESML vs. VBK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares ESG Aware MSCI USA Small-Cap ETF (ESML) and Vanguard Small-Cap Growth ETF (VBK). 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.

ESMLVBKDifference
Sharpe ratioReturn per unit of total volatility
1.71
1.04

+0.67

Sortino ratioReturn per unit of downside risk
2.51
1.55

+0.96

Omega ratioGain probability vs. loss probability

1.30

1.18

+0.11

Calmar ratioReturn relative to maximum drawdown

3.24

1.86

+1.39

Martin ratioReturn relative to average drawdown

11.36

6.29

+5.07

ESML vs. VBK - Sharpe Ratio Comparison

The current ESML Sharpe Ratio is 1.71, which is higher than the VBK Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of ESML and VBK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

ESML vs. VBK - Drawdown Comparison

The maximum ESML drawdown since its inception was -41.97%, smaller than the maximum VBK drawdown of -58.68%. Use the drawdown chart below to compare losses from any high point for ESML and VBK.

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Drawdown Indicators

ESMLVBKDifference

Max Drawdown

Largest peak-to-trough decline

-41.97%

-58.68%

+16.71%

Max Drawdown (1Y)

Largest decline over 1 year

-9.04%

-11.44%

+2.40%

Max Drawdown (3Y)

Largest decline over 3 years

-26.68%

-27.54%

+0.86%

Max Drawdown (5Y)

Largest decline over 5 years

-28.61%

-38.39%

+9.78%

Max Drawdown (10Y)

Largest decline over 10 years

—

-38.70%

—

Current Drawdown

Current decline from peak

-3.95%

-6.90%

+2.95%

Average Drawdown

Average peak-to-trough decline

-8.83%

-10.10%

+1.27%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.58%

3.37%

-0.79%

Volatility

ESML vs. VBK - Volatility Comparison

The current volatility for iShares ESG Aware MSCI USA Small-Cap ETF (ESML) is 3.85%, while Vanguard Small-Cap Growth ETF (VBK) has a volatility of 5.16%. This indicates that ESML experiences smaller price fluctuations and is considered to be less risky than VBK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ESMLVBKDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.85%

5.16%

-1.31%

Volatility (6M)

Calculated over the trailing 6-month period

12.35%

15.93%

-3.58%

Volatility (1Y)

Calculated over the trailing 1-year period

17.16%

20.39%

-3.23%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.20%

23.65%

-2.45%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.29%

22.91%

+0.38%

ESML vs. VBK - Expense Ratio Comparison

ESML has a 0.17% expense ratio, which is higher than VBK's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ESML vs. VBK - Dividend Comparison

ESML's dividend yield for the trailing twelve months is around 0.92%, more than VBK's 0.45% yield.

PositionTTM20252024202320222021202020192018201720162015
ESML
iShares ESG Aware MSCI USA Small-Cap ETF		0.92%1.08%1.22%1.31%1.46%0.94%0.99%1.10%1.07%0.00%0.00%0.00%
VBK
Vanguard Small-Cap Growth ETF		0.45%0.54%0.54%0.68%0.55%0.36%0.44%0.57%0.79%0.82%1.08%0.98%

Frequently Asked Questions

With a correlation of 0.93, ESML and VBK 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.

VBK has higher volatility (5.16%) compared to ESML (3.85%). In terms of maximum drawdown, ESML dropped -41.97% vs VBK's -58.68%.

On 5-year performance, ESML leads with 7.63% vs 4.14% for VBK. On fees, VBK is cheaper at 0.05% per year. On volatility, ESML has been the lower-risk option at 3.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, ESML has performed better with a 7.63% return vs 4.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VBK is cheaper with a 0.05% expense ratio, compared with 0.17% for ESML.

ESML has the higher dividend yield at 0.92%, compared with 0.45% for VBK.

ESML tracks MSCI USA Small Cap Extended ESG Focus Index, while VBK tracks CRSP US Small Cap Growth Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.17% for ESML and 0.05% for VBK.

ESML currently has the higher Sharpe Ratio (1.71 vs 1.04), 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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