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IJR vs. SWSSX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IJR vs. SWSSX

Last updated Jun 13, 2026

IJR (iShares Core S&P Small-Cap ETF) and SWSSX (Schwab Small-Cap Index Fund-Select Shares) are both Small Cap Blend Equities funds - IJR tracks the S&P SmallCap 600 Index while SWSSX tracks the Russell 2000 Index. Both are passively managed. Over the past 10 years, IJR returned 11.16%/yr vs 11.28%/yr for SWSSX. With a 0.97 correlation, they move nearly in lockstep. IJR charges 0.06%/yr vs 0.04%/yr for SWSSX.

Performance

IJR vs. SWSSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core S&P Small-Cap ETF (IJR) and Schwab Small-Cap Index Fund-Select Shares (SWSSX). 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 19.73% return, which is significantly higher than SWSSX's 18.28% return. Both investments have delivered pretty close results over the past 10 years, with IJR having a 11.16% annualized return and SWSSX not far ahead at 11.28%.

IJR

1D
0.97%
1M
5.53%
YTD
19.73%
6M
16.47%
1Y
37.01%
3Y*
14.75%
5Y*
6.25%
10Y*
11.16%

SWSSX

1D
3.02%
1M
2.12%
YTD
18.28%
6M
15.19%
1Y
40.82%
3Y*
17.64%
5Y*
6.05%
10Y*
11.28%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IJR vs. SWSSX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IJR
iShares Core S&P Small-Cap ETF		19.73%5.89%8.63%16.06%-16.20%26.58%11.28%22.82%-8.51%13.15%
SWSSX
Schwab Small-Cap Index Fund-Select Shares		18.28%12.88%11.57%17.07%-20.43%14.77%20.12%25.63%-11.19%14.76%

Correlation

The correlation between IJR and SWSSX is 0.93, 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

0.93

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

0.96

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

0.96

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

0.96

Correlation (All Time)
Calculated using the full available price history since May 26, 2000

0.97

The correlation between IJR and SWSSX has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.

IJR vs. SWSSX - Sectors Allocation Comparison

Sectors
IJR
SWSSX

Financial Services

16.8%
15.8%

Industrials

15.5%
17.7%

Technology

15.5%
17.0%

Consumer Cyclical

13.4%
8.4%

Healthcare

11.1%
16.5%

Real Estate

7.6%
6.1%

Energy

5.9%
6.1%

Basic Materials

5.1%
4.8%

Communication Services

3.6%
2.4%

Consumer Defensive

3.5%
2.4%

Utilities

2.0%
2.9%

Financial Services

IJR
16.8%
SWSSX
15.8%

Industrials

IJR
15.5%
SWSSX
17.7%

Technology

IJR
15.5%
SWSSX
17.0%

Consumer Cyclical

IJR
13.4%
SWSSX
8.4%

Healthcare

IJR
11.1%
SWSSX
16.5%

Real Estate

IJR
7.6%
SWSSX
6.1%

Energy

IJR
5.9%
SWSSX
6.1%

Basic Materials

IJR
5.1%
SWSSX
4.8%

Communication Services

IJR
3.6%
SWSSX
2.4%

Consumer Defensive

IJR
3.5%
SWSSX
2.4%

Utilities

IJR
2.0%
SWSSX
2.9%

Compare stocks, funds, or ETFs

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iShares Core S&P Small-Cap ETF

Schwab Small-Cap Index Fund-Select Shares

Often compared with IJR:
IJR vs. IWMIJR vs. VBIJR vs. AVUVIJR vs. IJSIJR vs. IJHIJR vs. SCHAIJR vs. VBR
Often compared with SWSSX:
SWSSX vs. SCHASWSSX vs. SWPPXSWSSX vs. SFSNXSWSSX vs. SWSCXSWSSX vs. VSMAXSWSSX vs. VSIAXSWSSX vs. VBR

Return for Risk

IJR vs. SWSSX — 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
SWSSX
SWSSX Risk / Return Rank: 7272
Overall Rank
SWSSX Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
SWSSX Sortino Ratio Rank: 6767
Sortino Ratio Rank
SWSSX Omega Ratio Rank: 5656
Omega Ratio Rank
SWSSX Calmar Ratio Rank: 8686
Calmar Ratio Rank
SWSSX Martin Ratio Rank: 8282
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. SWSSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P Small-Cap ETF (IJR) and Schwab Small-Cap Index Fund-Select Shares (SWSSX). 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.

IJRSWSSXDifference
Sharpe ratioReturn per unit of total volatility
1.94
1.92

+0.02

Sortino ratioReturn per unit of downside risk
2.80
2.67

+0.13

Omega ratioGain probability vs. loss probability

1.33

1.32

+0.01

Calmar ratioReturn relative to maximum drawdown

3.97

3.45

+0.53

Martin ratioReturn relative to average drawdown

13.35

12.17

+1.18

IJR vs. SWSSX - Sharpe Ratio Comparison

The current IJR Sharpe Ratio is 1.94, which is comparable to the SWSSX Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of IJR and SWSSX, 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

IJR vs. SWSSX - Drawdown Comparison

The maximum IJR drawdown since its inception was -58.15%, roughly equal to the maximum SWSSX drawdown of -60.34%. Use the drawdown chart below to compare losses from any high point for IJR and SWSSX.

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Drawdown Indicators

IJRSWSSXDifference

Max Drawdown

Largest peak-to-trough decline

-58.15%

-60.34%

+2.19%

Max Drawdown (1Y)

Largest decline over 1 year

-8.68%

-11.00%

+2.32%

Max Drawdown (3Y)

Largest decline over 3 years

-28.02%

-27.50%

-0.52%

Max Drawdown (5Y)

Largest decline over 5 years

-28.02%

-31.93%

+3.91%

Max Drawdown (10Y)

Largest decline over 10 years

-44.36%

-41.81%

-2.55%

Current Drawdown

Current decline from peak

0.00%

-0.49%

+0.49%

Average Drawdown

Average peak-to-trough decline

-9.27%

-10.72%

+1.45%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.59%

3.11%

-0.52%

Volatility

IJR vs. SWSSX - Volatility Comparison

The current volatility for iShares Core S&P Small-Cap ETF (IJR) is 5.18%, while Schwab Small-Cap Index Fund-Select Shares (SWSSX) has a volatility of 7.06%. This indicates that IJR experiences smaller price fluctuations and is considered to be less risky than SWSSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IJRSWSSXDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.18%

7.06%

-1.88%

Volatility (6M)

Calculated over the trailing 6-month period

11.97%

14.37%

-2.40%

Volatility (1Y)

Calculated over the trailing 1-year period

17.76%

19.72%

-1.96%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.43%

22.68%

-1.25%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.92%

24.13%

-1.21%

IJR vs. SWSSX - Expense Ratio Comparison

IJR has a 0.06% expense ratio, which is higher than SWSSX's 0.04% 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

IJR vs. SWSSX - Dividend Comparison

IJR's dividend yield for the trailing twelve months is around 1.11%, more than SWSSX's 1.09% yield.

PositionTTM20252024202320222021202020192018201720162015
IJR
iShares Core S&P Small-Cap ETF		1.11%1.44%2.05%1.31%1.41%1.53%1.11%1.44%1.58%1.20%1.22%1.48%
SWSSX
Schwab Small-Cap Index Fund-Select Shares		1.09%1.29%1.66%1.49%1.32%8.88%2.55%6.12%10.45%5.22%4.10%6.92%

Frequently Asked Questions

With a correlation of 0.93, IJR and SWSSX 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.

SWSSX has higher volatility (7.06%) compared to IJR (5.18%). In terms of maximum drawdown, IJR dropped -58.15% vs SWSSX's -60.34%.

IJR currently has the higher Sharpe Ratio (1.94 vs 1.92), 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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