IJR vs. VSIIX
IJR (iShares Core S&P Small-Cap ETF) and VSIIX (Vanguard Small-Cap Value Index Fund Institutional Shares) are both funds - IJR is a Small Cap Blend Equities fund tracking the S&P SmallCap 600 Index, while VSIIX is a Small Cap Value Equities fund managed by Vanguard. Over the past 10 years, IJR returned 10.68%/yr vs 10.53%/yr for VSIIX. With a 0.96 correlation, they move nearly in lockstep. Both charge a 0.06% expense ratio.
Performance
IJR vs. VSIIX - Performance Comparison
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Returns By Period
In the year-to-date period, IJR achieves a 16.89% return, which is significantly higher than VSIIX's 11.65% return. Both investments have delivered pretty close results over the past 10 years, with IJR having a 10.68% annualized return and VSIIX not far behind at 10.53%.
IJR
- 1D
- 1.31%
- 1M
- 1.56%
- YTD
- 16.89%
- 6M
- 15.84%
- 1Y
- 33.61%
- 3Y*
- 15.68%
- 5Y*
- 5.91%
- 10Y*
- 10.68%
VSIIX
- 1D
- -0.37%
- 1M
- 1.35%
- YTD
- 11.65%
- 6M
- 11.87%
- 1Y
- 26.40%
- 3Y*
- 16.46%
- 5Y*
- 7.98%
- 10Y*
- 10.53%
IJR vs. VSIIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IJR iShares Core S&P Small-Cap ETF | 16.89% | 5.89% | 8.63% | 16.06% | -16.20% | 26.58% | 11.28% | 22.82% | -8.51% | 13.15% |
VSIIX Vanguard Small-Cap Value Index Fund Institutional Shares | 11.65% | 9.10% | 11.37% | 17.06% | -9.31% | 28.12% | 5.81% | 22.81% | -12.24% | 11.80% |
Correlation
The correlation between IJR and VSIIX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since May 30, 2000 | 0.96 |
The correlation between IJR and VSIIX has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.
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Return for Risk
IJR vs. VSIIX — Risk / Return Rank
IJR
VSIIX
IJR vs. VSIIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P Small-Cap ETF (IJR) and Vanguard Small-Cap Value Index Fund Institutional Shares (VSIIX). 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.
| IJR | VSIIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.30 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.89 | 2.92 | +0.97 |
| Martin ratioReturn relative to average drawdown | 12.94 | 10.35 | +2.59 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IJR | VSIIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.93 | 1.71 | +0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.28 | 0.41 | -0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.47 | 0.48 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.44 | 0.00 |
Drawdowns
IJR vs. VSIIX - Drawdown Comparison
The maximum IJR drawdown since its inception was -58.15%, smaller than the maximum VSIIX drawdown of -62.05%. Use the drawdown chart below to compare losses from any high point for IJR and VSIIX.
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Drawdown Indicators
| IJR | VSIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.15% | -62.05% | +3.90% |
Max Drawdown (1Y)Largest decline over 1 year | -8.68% | -8.87% | +0.19% |
Max Drawdown (3Y)Largest decline over 3 years | -28.02% | -24.09% | -3.93% |
Max Drawdown (5Y)Largest decline over 5 years | -28.02% | -24.09% | -3.93% |
Max Drawdown (10Y)Largest decline over 10 years | -44.36% | -45.38% | +1.02% |
Current DrawdownCurrent decline from peak | 0.00% | -0.37% | +0.37% |
Average DrawdownAverage peak-to-trough decline | -9.28% | -8.52% | -0.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.60% | 2.50% | +0.10% |
Volatility
IJR vs. VSIIX - Volatility Comparison
iShares Core S&P Small-Cap ETF (IJR) has a higher volatility of 4.42% compared to Vanguard Small-Cap Value Index Fund Institutional Shares (VSIIX) at 3.98%. This indicates that IJR's price experiences larger fluctuations and is considered to be riskier than VSIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IJR | VSIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.42% | 3.98% | +0.44% |
Volatility (6M)Calculated over the trailing 6-month period | 11.71% | 10.43% | +1.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.51% | 15.20% | +2.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.41% | 19.77% | +1.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.90% | 21.83% | +1.07% |
IJR vs. VSIIX - Expense Ratio Comparison
Both IJR and VSIIX have an expense ratio of 0.06%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IJR vs. VSIIX - Dividend Comparison
IJR's dividend yield for the trailing twelve months is around 1.14%, less than VSIIX's 1.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IJR iShares Core S&P Small-Cap ETF | 1.14% | 1.44% | 2.05% | 1.31% | 1.41% | 1.53% | 1.11% | 1.44% | 1.58% | 1.20% | 1.22% | 1.48% |
VSIIX Vanguard Small-Cap Value Index Fund Institutional Shares | 1.77% | 1.96% | 1.99% | 2.10% | 2.04% | 1.76% | 1.69% | 2.07% | 2.36% | 1.80% | 1.77% | 1.99% |
Frequently Asked Questions
With a correlation of 0.96, IJR and VSIIX 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.
IJR has higher volatility (4.42%) compared to VSIIX (3.98%). In terms of maximum drawdown, IJR dropped -58.15% vs VSIIX's -62.05%.
IJR currently has the higher Sharpe Ratio (1.93 vs 1.71), 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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