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IJR vs. IEI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IJR vs. IEI

Last updated Jun 4, 2026

IJR (iShares Core S&P Small-Cap ETF) and IEI (iShares 3-7 Year Treasury Bond ETF) are both exchange-traded funds - IJR is a Small Cap Blend Equities fund tracking the S&P SmallCap 600 Index, while IEI is a Government Bonds fund tracking the ICE U.S. Treasury 3-7 Year Bond Index. Both are passively managed. Over the past 10 years, IJR returned 10.66%/yr vs 1.28%/yr for IEI. At a correlation of -0.25, they often move in opposite directions. IJR charges 0.06%/yr vs 0.15%/yr for IEI.

Performance

IJR vs. IEI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core S&P Small-Cap ETF (IJR) and iShares 3-7 Year Treasury Bond ETF (IEI). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IJR achieves a 15.38% return, which is significantly higher than IEI's -0.42% return. Over the past 10 years, IJR has outperformed IEI with an annualized return of 10.66%, while IEI has yielded a comparatively lower 1.28% annualized return.

IJR

1D
-0.89%
1M
1.67%
YTD
15.38%
6M
14.25%
1Y
31.54%
3Y*
14.39%
5Y*
5.64%
10Y*
10.66%

IEI

1D
-0.13%
1M
-0.17%
YTD
-0.42%
6M
-0.49%
1Y
3.28%
3Y*
3.52%
5Y*
0.23%
10Y*
1.28%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IJR vs. IEI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IJR
iShares Core S&P Small-Cap ETF		15.38%5.89%8.63%16.06%-16.20%26.58%11.28%22.82%-8.51%13.15%
IEI
iShares 3-7 Year Treasury Bond ETF		-0.42%6.96%1.81%4.42%-9.51%-2.54%6.95%5.71%1.36%1.22%

Correlation

The correlation between IJR and IEI is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.21

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

0.17

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

0.09

Correlation (10Y)
Calculated over the trailing 10-year period

-0.10

Correlation (All Time)
Calculated using the full available price history since Jan 12, 2007

-0.25

The correlation between IJR and IEI shifts across timeframes, from -0.25 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.

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

iShares 3-7 Year Treasury Bond ETF

Often compared with IJR:
IJR vs. IWMIJR vs. VBIJR vs. AVUVIJR vs. IJSIJR vs. IJHIJR vs. SCHAIJR vs. VBR
Often compared with IEI:
IEI vs. IEFIEI vs. VGITIEI vs. TLTIEI vs. BNDIEI vs. TIPIEI vs. TLHIEI vs. IMTB

Return for Risk

IJR vs. IEI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IJR
IJR Risk / Return Rank: 5858
Overall Rank
IJR Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
IJR Sortino Ratio Rank: 5454
Sortino Ratio Rank
IJR Omega Ratio Rank: 4949
Omega Ratio Rank
IJR Calmar Ratio Rank: 7171
Calmar Ratio Rank
IJR Martin Ratio Rank: 6565
Martin Ratio Rank
IEI
IEI Risk / Return Rank: 2828
Overall Rank
IEI Sharpe Ratio Rank: 2929
Sharpe Ratio Rank
IEI Sortino Ratio Rank: 3030
Sortino Ratio Rank
IEI Omega Ratio Rank: 2727
Omega Ratio Rank
IEI Calmar Ratio Rank: 2727
Calmar Ratio Rank
IEI Martin Ratio Rank: 2727
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. IEI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P Small-Cap ETF (IJR) and iShares 3-7 Year Treasury Bond ETF (IEI). 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.

IJRIEIDifference
Sharpe ratioReturn per unit of total volatility
1.81
1.09

+0.73

Sortino ratioReturn per unit of downside risk
2.64
1.65

+0.99

Omega ratioGain probability vs. loss probability

1.31

1.19

+0.12

Calmar ratioReturn relative to maximum drawdown

3.65

1.32

+2.33

Martin ratioReturn relative to average drawdown

12.14

3.96

+8.18

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IJR vs. IEI - Sharpe Ratio Comparison

The current IJR Sharpe Ratio is 1.81, which is higher than the IEI Sharpe Ratio of 1.09. The chart below compares the historical Sharpe Ratios of IJR and IEI, 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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Sharpe Ratios by Period

IJRIEIDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.81

1.09

+0.73

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.26

0.05

+0.22

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.47

0.33

+0.14

Sharpe Ratio (All Time)

Calculated using the full available price history

0.43

0.70

-0.26

Drawdowns

IJR vs. IEI - Drawdown Comparison

The maximum IJR drawdown since its inception was -58.15%, which is greater than IEI's maximum drawdown of -14.60%. Use the drawdown chart below to compare losses from any high point for IJR and IEI.

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Drawdown Indicators

IJRIEIDifference

Max Drawdown

Largest peak-to-trough decline

-58.15%

-14.60%

-43.55%

Max Drawdown (1Y)

Largest decline over 1 year

-8.68%

-2.50%

-6.18%

Max Drawdown (3Y)

Largest decline over 3 years

-28.02%

-3.66%

-24.36%

Max Drawdown (5Y)

Largest decline over 5 years

-28.02%

-13.88%

-14.14%

Max Drawdown (10Y)

Largest decline over 10 years

-44.36%

-14.60%

-29.76%

Current Drawdown

Current decline from peak

-0.91%

-1.85%

+0.94%

Average Drawdown

Average peak-to-trough decline

-9.28%

-2.67%

-6.61%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.60%

0.83%

+1.77%

Volatility

IJR vs. IEI - Volatility Comparison

iShares Core S&P Small-Cap ETF (IJR) has a higher volatility of 4.45% compared to iShares 3-7 Year Treasury Bond ETF (IEI) at 0.91%. This indicates that IJR's price experiences larger fluctuations and is considered to be riskier than IEI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IJRIEIDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.45%

0.91%

+3.54%

Volatility (6M)

Calculated over the trailing 6-month period

11.65%

2.13%

+9.52%

Volatility (1Y)

Calculated over the trailing 1-year period

17.54%

3.04%

+14.50%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.41%

4.77%

+16.64%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.91%

3.93%

+18.98%

IJR vs. IEI - Expense Ratio Comparison

IJR has a 0.06% expense ratio, which is lower than IEI's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IJR vs. IEI - Dividend Comparison

IJR's dividend yield for the trailing twelve months is around 1.15%, less than IEI's 3.64% yield.

PositionTTM20252024202320222021202020192018201720162015
IEI
iShares 3-7 Year Treasury Bond ETF		3.64%3.48%3.18%2.36%1.37%0.73%1.12%2.01%1.95%1.51%1.33%1.39%
IJR
iShares Core S&P Small-Cap ETF		1.15%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 IEI have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IJR has higher volatility (4.45%) compared to IEI (0.91%). In terms of maximum drawdown, IJR dropped -58.15% vs IEI's -14.60%.

On 10-year performance, IJR leads with 10.66% vs 1.28% for IEI. On fees, IJR is cheaper at 0.06% per year. On volatility, IEI has been the lower-risk option at 0.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IJR has performed better with a 10.66% return vs 1.28%. 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 0.15% for IEI.

IEI has the higher dividend yield at 3.64%, compared with 1.15% for IJR.

IJR is categorized as Small Cap Blend Equities, while IEI is Government Bonds. IJR tracks S&P SmallCap 600 Index, while IEI tracks ICE U.S. Treasury 3-7 Year Bond Index. Their fees differ too: 0.06% for IJR and 0.15% for IEI.

IJR currently has the higher Sharpe Ratio (1.81 vs 1.09), 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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