IJK vs. VO

Last updated Aug 2, 2026

IJK (iShares S&P MidCap 400 Growth ETF) and VO (Vanguard Mid-Cap ETF) are both exchange-traded funds - IJK is a Mid Cap Growth Equities fund tracking the S&P MidCap 400 Growth Index, while VO is a Mid Cap Blend Equities fund tracking the CRSP US Mid Cap Index. Both are passively managed. Over the past 10 years, IJK returned 10.87%/yr vs 11.50%/yr for VO. Their 0.95 correlation means they have historically moved very closely together. IJK charges 0.17%/yr vs 0.03%/yr for VO.

Performance

IJK vs. VO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares S&P MidCap 400 Growth ETF (IJK) and Vanguard Mid-Cap ETF (VO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IJK achieves a 15.74% return, which is significantly higher than VO's 12.35% return. Over the past 10 years, IJK has underperformed VO with an annualized return of 10.87%, while VO has yielded a comparatively higher 11.50% annualized return.

IJK

• 1D: -0.07%
• 1M: -2.82%
• 6M: 11.34%
• YTD: 15.74%
• 1Y: 22.62%
• 3Y*: 13.85%
• 5Y*: 7.42%
• 10Y*: 10.87%
• ALL TIME*: 8.48%

VO

• 1D: -0.05%
• 1M: 0.55%
• 6M: 10.12%
• YTD: 12.35%
• 1Y: 16.51%
• 3Y*: 14.32%
• 5Y*: 7.77%
• 10Y*: 11.50%
• ALL TIME*: 10.33%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IJK iShares S&P MidCap 400 Growth ETF	$17.18M	$22.70M	$31.50M
VO Vanguard Mid-Cap ETF	$194.51M	$293.72M	$235.90M

IJK vs. VO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IJK iShares S&P MidCap 400 Growth ETF	15.74%	7.28%	15.68%	17.41%	-19.03%	18.68%	22.45%	25.96%	-10.53%	19.64%
VO Vanguard Mid-Cap ETF	12.35%	11.62%	15.31%	16.03%	-18.73%	24.70%	18.10%	30.98%	-9.24%	19.28%

Correlation

The correlation between IJK and VO is 0.87, 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.	0.87
Correlation (3Y) Balances recent behavior with more history.	0.92
Correlation (5Y) Shows whether the relationship held over a longer period.	0.94
Correlation (10Y) Provides a long-term view across more market conditions.	0.95
Correlation (All Time) Calculated using the full available price history since Jan 30, 2004	0.95

The correlation between IJK and VO has been stable across timeframes, ranging from 0.87 to 0.95 - a consistent structural relationship.

IJK vs. VO - Sectors Allocation Comparison

Sectors	IJK	VO
Industrials	30.8%	19.9%
Technology	23.9%	18.2%
Healthcare	13.6%	7.8%
Consumer Cyclical	7.3%	9.0%
Financial Services	6.7%	13.1%
Real Estate	5.2%	5.1%
Basic Materials	4.1%	3.9%
Energy	3.0%	7.4%
Communication Services	2.2%	2.7%
Utilities	1.8%	8.4%
Consumer Defensive	1.6%	4.6%

Return for Risk

IJK vs. VO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IJK

IJK Risk / Return Rank: 54
IJK Sharpe Ratio Rank: 48
IJK Sortino Ratio Rank: 50
IJK Omega Ratio Rank: 46
IJK Calmar Ratio Rank: 61
IJK Martin Ratio Rank: 64

VO

VO Risk / Return Rank: 51
VO Sharpe Ratio Rank: 48
VO Sortino Ratio Rank: 49
VO Omega Ratio Rank: 46
VO Calmar Ratio Rank: 52
VO Martin Ratio Rank: 59

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.

IJK vs. VO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P MidCap 400 Growth ETF (IJK) and Vanguard Mid-Cap ETF (VO). 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.

	IJK	VO	Difference
Sharpe ratio: Return per unit of total volatility	1.18	1.18	0.00
Sortino ratio: Return per unit of downside risk	1.77	1.73	+0.04
Omega ratio: Gain probability vs. loss probability	1.21	1.21	0.00
Calmar ratio: Return relative to maximum drawdown	2.12	1.83	+0.30
Martin ratio: Return relative to average drawdown	7.75	6.99	+0.76

IJK vs. VO - Sharpe Ratio Comparison

The current IJK Sharpe Ratio is 1.18, which is comparable to the VO Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of IJK and VO, 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

IJK vs. VO - Drawdown Comparison

The maximum IJK drawdown since its inception was -54.47%, smaller than the maximum VO drawdown of -58.87%. Use the drawdown chart below to compare losses from any high point for IJK and VO.

Drawdown Indicators

	IJK	VO	Difference
Max Drawdown Largest peak-to-trough decline	-54.47%	-58.87%	+4.40%
Max Drawdown (1Y) Largest decline over 1 year	-9.92%	-8.17%	-1.75%
Max Drawdown (3Y) Largest decline over 3 years	-25.63%	-19.02%	-6.61%
Max Drawdown (5Y) Largest decline over 5 years	-29.24%	-27.57%	-1.67%
Max Drawdown (10Y) Largest decline over 10 years	-39.25%	-39.37%	+0.12%
Current Drawdown Current decline from peak	-4.78%	-0.49%	-4.29%
Average Drawdown Average peak-to-trough decline	-10.75%	-7.81%	-2.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.72%	2.13%	+0.59%

Volatility

IJK vs. VO - Volatility Comparison

iShares S&P MidCap 400 Growth ETF (IJK) has a higher volatility of 4.51% compared to Vanguard Mid-Cap ETF (VO) at 2.09%. This indicates that IJK's price experiences larger fluctuations and is considered to be riskier than VO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IJK	VO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.51%	2.09%	+2.42%
Volatility (6M) Calculated over the trailing 6-month period	14.04%	9.44%	+4.60%
Volatility (1Y) Calculated over the trailing 1-year period	17.87%	12.61%	+5.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.78%	17.59%	+3.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.08%	18.86%	+2.22%

IJK vs. VO - Expense Ratio Comparison

IJK has a 0.17% expense ratio, which is higher than VO's 0.03% 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

IJK vs. VO - Dividend Comparison

IJK's dividend yield for the trailing twelve months is around 0.54%, less than VO's 1.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IJK iShares S&P MidCap 400 Growth ETF	0.54%	0.66%	0.79%	1.13%	1.08%	0.50%	0.70%	1.09%	1.13%	0.93%	1.15%	1.12%
VO Vanguard Mid-Cap ETF	1.32%	1.52%	1.49%	1.52%	1.60%	1.12%	1.45%	1.48%	1.82%	1.35%	1.45%	1.47%

Frequently Asked Questions

Can I hold both IJK and VO in my portfolio?

IJK and VO have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IJK or VO?

IJK has higher volatility (4.51%) compared to VO (2.09%). In terms of maximum drawdown, IJK dropped -54.47% vs VO's -58.87%.

Which ETF is better, IJK or VO?

On 10-year performance, VO leads with 11.50% vs 10.87% for IJK. On fees, VO is cheaper at 0.03% per year. On volatility, VO has been the lower-risk option at 2.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IJK or VO?

Over the 10-year period, VO has performed better with a 11.50% return vs 10.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IJK or VO?

VO is cheaper with a 0.03% expense ratio, compared with 0.17% for IJK.

Which ETF pays a higher dividend yield, IJK or VO?

VO has the higher dividend yield at 1.32%, compared with 0.54% for IJK.

What is the main difference between IJK and VO?

IJK is categorized as Mid Cap Growth Equities, while VO is Mid Cap Blend Equities. IJK tracks S&P MidCap 400 Growth Index, while VO tracks CRSP US Mid Cap Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.17% for IJK and 0.03% for VO.

Which has better risk-adjusted returns?

VO currently has the higher Sharpe Ratio (1.18 vs 1.18), 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.