PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
IJR vs. HYGV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IJR vs. HYGV

Last updated Jun 12, 2026

IJR (iShares Core S&P Small-Cap ETF) and HYGV (FlexShares High Yield Value-Scored US Bond Index Fund) are both exchange-traded funds - IJR is a Small Cap Blend Equities fund tracking the S&P SmallCap 600 Index, while HYGV is a High Yield Bonds fund tracking the Northern Trust High Yield Value-Scored US Corporate Bond Index. Both are passively managed. Over the past 5 years, IJR returned 6.05%/yr vs 3.44%/yr for HYGV. A 0.66 correlation means they provide meaningful diversification when combined. IJR charges 0.06%/yr vs 0.37%/yr for HYGV.

Performance

IJR vs. HYGV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core S&P Small-Cap ETF (IJR) and FlexShares High Yield Value-Scored US Bond Index Fund (HYGV). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, IJR achieves a 18.58% return, which is significantly higher than HYGV's 1.71% return.

IJR

1D
2.44%
1M
4.79%
YTD
18.58%
6M
14.12%
1Y
32.55%
3Y*
14.69%
5Y*
6.05%
10Y*
11.03%

HYGV

1D
0.53%
1M
0.72%
YTD
1.71%
6M
1.99%
1Y
6.90%
3Y*
8.43%
5Y*
3.44%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

IJR vs. HYGV - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
IJR
iShares Core S&P Small-Cap ETF		18.58%5.89%8.63%16.06%-16.20%26.58%11.28%22.82%-18.79%
HYGV
FlexShares High Yield Value-Scored US Bond Index Fund		1.71%7.92%8.02%12.11%-12.60%5.93%8.01%15.76%-4.15%

Correlation

The correlation between IJR and HYGV is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.71

Correlation (3Y)
Calculated over the trailing 3-year period

0.70

Correlation (5Y)
Calculated over the trailing 5-year period

0.69

Correlation (All Time)
Calculated using the full available price history since Jul 18, 2018

0.66

The correlation between IJR and HYGV has been stable across timeframes, ranging from 0.66 to 0.71 - a consistent structural relationship.

IJR vs. HYGV - Sectors Allocation Comparison

Sectors
IJR
HYGV

Financial Services

16.8%

-

Industrials

15.5%

-

Technology

15.5%

-

Consumer Cyclical

13.4%

-

Healthcare

11.1%

-

Real Estate

7.6%

-

Energy

5.9%
100.0%

Basic Materials

5.1%

-

Communication Services

3.6%

-

Consumer Defensive

3.5%

-

Utilities

2.0%

-

Financial Services

IJR
16.8%
HYGV

-

Industrials

IJR
15.5%
HYGV

-

Technology

IJR
15.5%
HYGV

-

Consumer Cyclical

IJR
13.4%
HYGV

-

Healthcare

IJR
11.1%
HYGV

-

Real Estate

IJR
7.6%
HYGV

-

Energy

IJR
5.9%
HYGV
100.0%

Basic Materials

IJR
5.1%
HYGV

-

Communication Services

IJR
3.6%
HYGV

-

Consumer Defensive

IJR
3.5%
HYGV

-

Utilities

IJR
2.0%
HYGV

-

Compare stocks, funds, or ETFs

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

iShares Core S&P Small-Cap ETF

FlexShares High Yield Value-Scored US Bond Index Fund

Often compared with IJR:
IJR vs. IWMIJR vs. VBIJR vs. AVUVIJR vs. IJSIJR vs. IJHIJR vs. SCHAIJR vs. VBR
Often compared with HYGV:
HYGV vs. HYGHYGV vs. SPYHYGV vs. SPHYHYGV vs. HYGHHYGV vs. HYUPHYGV vs. PFXFHYGV vs. SCHD

Return for Risk

IJR vs. HYGV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IJR
IJR Risk / Return Rank: 7474
Overall Rank
IJR Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
IJR Sortino Ratio Rank: 7272
Sortino Ratio Rank
IJR Omega Ratio Rank: 6464
Omega Ratio Rank
IJR Calmar Ratio Rank: 8484
Calmar Ratio Rank
IJR Martin Ratio Rank: 7979
Martin Ratio Rank
HYGV
HYGV Risk / Return Rank: 6868
Overall Rank
HYGV Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
HYGV Sortino Ratio Rank: 7373
Sortino Ratio Rank
HYGV Omega Ratio Rank: 6969
Omega Ratio Rank
HYGV Calmar Ratio Rank: 6262
Calmar Ratio Rank
HYGV Martin Ratio Rank: 7171
Martin Ratio Rank
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.

IJR vs. HYGV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P Small-Cap ETF (IJR) and FlexShares High Yield Value-Scored US Bond Index Fund (HYGV). 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.

IJRHYGVDifference
Sharpe ratioReturn per unit of total volatility
1.84
1.78

+0.06

Sortino ratioReturn per unit of downside risk
2.68
2.74

-0.06

Omega ratioGain probability vs. loss probability

1.32

1.34

-0.02

Calmar ratioReturn relative to maximum drawdown

3.77

2.58

+1.18

Martin ratioReturn relative to average drawdown

12.61

11.11

+1.50

IJR vs. HYGV - Sharpe Ratio Comparison

The current IJR Sharpe Ratio is 1.84, which is comparable to the HYGV Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of IJR and HYGV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

IJR vs. HYGV - Drawdown Comparison

The maximum IJR drawdown since its inception was -58.15%, which is greater than HYGV's maximum drawdown of -23.47%. Use the drawdown chart below to compare losses from any high point for IJR and HYGV.

Loading charts...

Drawdown Indicators

IJRHYGVDifference

Max Drawdown

Largest peak-to-trough decline

-58.15%

-23.47%

-34.68%

Max Drawdown (1Y)

Largest decline over 1 year

-8.68%

-2.68%

-6.00%

Max Drawdown (3Y)

Largest decline over 3 years

-28.02%

-5.56%

-22.46%

Max Drawdown (5Y)

Largest decline over 5 years

-28.02%

-17.12%

-10.90%

Max Drawdown (10Y)

Largest decline over 10 years

-44.36%

—

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-9.27%

-3.31%

-5.96%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.59%

0.62%

+1.97%

Volatility

IJR vs. HYGV - Volatility Comparison

iShares Core S&P Small-Cap ETF (IJR) has a higher volatility of 5.17% compared to FlexShares High Yield Value-Scored US Bond Index Fund (HYGV) at 1.20%. This indicates that IJR's price experiences larger fluctuations and is considered to be riskier than HYGV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

IJRHYGVDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.17%

1.20%

+3.97%

Volatility (6M)

Calculated over the trailing 6-month period

12.08%

3.08%

+9.00%

Volatility (1Y)

Calculated over the trailing 1-year period

17.75%

3.90%

+13.85%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.43%

7.59%

+13.84%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.92%

9.19%

+13.73%

IJR vs. HYGV - Expense Ratio Comparison

IJR has a 0.06% expense ratio, which is lower than HYGV's 0.37% expense ratio.

Dividends

IJR vs. HYGV - Dividend Comparison

IJR's dividend yield for the trailing twelve months is around 1.12%, less than HYGV's 7.38% yield.

PositionTTM20252024202320222021202020192018201720162015
HYGV
FlexShares High Yield Value-Scored US Bond Index Fund		7.38%7.48%8.20%8.77%7.64%6.07%6.18%7.95%5.63%0.00%0.00%0.00%
IJR
iShares Core S&P Small-Cap ETF		1.12%1.44%2.05%1.31%1.41%1.53%1.11%1.44%1.58%1.20%1.22%1.48%

Frequently Asked Questions

IJR and HYGV have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IJR has higher volatility (5.17%) compared to HYGV (1.20%). In terms of maximum drawdown, IJR dropped -58.15% vs HYGV's -23.47%.

On 5-year performance, IJR leads with 6.05% vs 3.44% for HYGV. On fees, IJR is cheaper at 0.06% per year. On volatility, HYGV has been the lower-risk option at 1.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, IJR has performed better with a 6.05% return vs 3.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IJR is cheaper with a 0.06% expense ratio, compared with 0.37% for HYGV.

HYGV has the higher dividend yield at 7.38%, compared with 1.12% for IJR.

IJR is categorized as Small Cap Blend Equities, while HYGV is High Yield Bonds. IJR tracks S&P SmallCap 600 Index, while HYGV tracks Northern Trust High Yield Value-Scored US Corporate Bond Index. They also come from different issuers: iShares and Northern Trust. Their fees differ too: 0.06% for IJR and 0.37% for HYGV.

IJR currently has the higher Sharpe Ratio (1.84 vs 1.78), 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.

Portfolio Optimizer

Find the right allocation for IJR and HYGV

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer