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IJR vs. VSMAX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IJR vs. VSMAX

Last updated Jun 4, 2026

IJR (iShares Core S&P Small-Cap ETF) and VSMAX (Vanguard Small-Cap Index Fund Admiral Shares) are both Small Cap Blend Equities funds. Over the past 10 years, IJR returned 10.66%/yr vs 11.37%/yr for VSMAX. With a 0.97 correlation, they move nearly in lockstep. IJR charges 0.06%/yr vs 0.05%/yr for VSMAX.

Performance

IJR vs. VSMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core S&P Small-Cap ETF (IJR) and Vanguard Small-Cap Index Fund Admiral Shares (VSMAX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both stocks are quite close, with IJR having a 15.38% return and VSMAX slightly lower at 14.94%. Over the past 10 years, IJR has underperformed VSMAX with an annualized return of 10.66%, while VSMAX has yielded a comparatively higher 11.37% 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%

VSMAX

1D
0.80%
1M
4.24%
YTD
14.94%
6M
14.89%
1Y
29.65%
3Y*
17.30%
5Y*
7.34%
10Y*
11.37%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IJR vs. VSMAX - 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%
VSMAX
Vanguard Small-Cap Index Fund Admiral Shares		14.94%8.83%14.23%18.17%-17.61%17.74%19.06%27.36%-9.33%16.24%

Correlation

The correlation between IJR and VSMAX is 0.94, 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

0.94

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

0.96

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

0.97

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

0.96

Correlation (All Time)
Calculated using the full available price history since Nov 14, 2000

0.97

The correlation between IJR and VSMAX has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

IJR vs. VSMAX - Sectors Allocation Comparison

Sectors
IJR
VSMAX

Financial Services

16.8%
12.6%

Industrials

15.5%
20.8%

Technology

15.5%
17.2%

Consumer Cyclical

13.4%
11.3%

Healthcare

11.1%
11.1%

Real Estate

7.6%
7.6%

Energy

5.9%
4.7%

Basic Materials

5.1%
4.8%

Communication Services

3.6%
3.1%

Consumer Defensive

3.5%
3.4%

Utilities

2.0%
3.3%

Financial Services

IJR
16.8%
VSMAX
12.6%

Industrials

IJR
15.5%
VSMAX
20.8%

Technology

IJR
15.5%
VSMAX
17.2%

Consumer Cyclical

IJR
13.4%
VSMAX
11.3%

Healthcare

IJR
11.1%
VSMAX
11.1%

Real Estate

IJR
7.6%
VSMAX
7.6%

Energy

IJR
5.9%
VSMAX
4.7%

Basic Materials

IJR
5.1%
VSMAX
4.8%

Communication Services

IJR
3.6%
VSMAX
3.1%

Consumer Defensive

IJR
3.5%
VSMAX
3.4%

Utilities

IJR
2.0%
VSMAX
3.3%

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

Vanguard Small-Cap Index Fund Admiral Shares

Often compared with IJR:
IJR vs. IWMIJR vs. VBIJR vs. AVUVIJR vs. IJSIJR vs. IJHIJR vs. SCHAIJR vs. VBR
Often compared with VSMAX:
VSMAX vs. VIMAXVSMAX vs. FSSNXVSMAX vs. VSGAXVSMAX vs. VBVSMAX vs. VOOVSMAX vs. VBRVSMAX vs. IWM

Return for Risk

IJR vs. VSMAX — 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
VSMAX
VSMAX Risk / Return Rank: 5454
Overall Rank
VSMAX Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
VSMAX Sortino Ratio Rank: 4343
Sortino Ratio Rank
VSMAX Omega Ratio Rank: 4040
Omega Ratio Rank
VSMAX Calmar Ratio Rank: 7777
Calmar Ratio Rank
VSMAX Martin Ratio Rank: 6767
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. VSMAX - 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 Index Fund Admiral Shares (VSMAX). 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.

IJRVSMAXDifference
Sharpe ratioReturn per unit of total volatility
1.81
1.94

-0.12

Sortino ratioReturn per unit of downside risk
2.64
2.74

-0.10

Omega ratioGain probability vs. loss probability

1.31

1.33

-0.02

Calmar ratioReturn relative to maximum drawdown

3.65

3.51

+0.14

Martin ratioReturn relative to average drawdown

12.14

12.97

-0.82

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. VSMAX - Sharpe Ratio Comparison

The current IJR Sharpe Ratio is 1.81, which is comparable to the VSMAX Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of IJR and VSMAX, 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

IJRVSMAXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.81

1.94

-0.12

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.26

0.36

-0.09

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.47

0.53

-0.06

Sharpe Ratio (All Time)

Calculated using the full available price history

0.43

0.39

+0.04

Drawdowns

IJR vs. VSMAX - Drawdown Comparison

The maximum IJR drawdown since its inception was -58.15%, roughly equal to the maximum VSMAX drawdown of -59.68%. Use the drawdown chart below to compare losses from any high point for IJR and VSMAX.

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Drawdown Indicators

IJRVSMAXDifference

Max Drawdown

Largest peak-to-trough decline

-58.15%

-59.68%

+1.53%

Max Drawdown (1Y)

Largest decline over 1 year

-8.68%

-8.97%

+0.29%

Max Drawdown (3Y)

Largest decline over 3 years

-28.02%

-25.25%

-2.77%

Max Drawdown (5Y)

Largest decline over 5 years

-28.02%

-28.14%

+0.12%

Max Drawdown (10Y)

Largest decline over 10 years

-44.36%

-41.82%

-2.54%

Current Drawdown

Current decline from peak

-0.91%

0.00%

-0.91%

Average Drawdown

Average peak-to-trough decline

-9.28%

-9.70%

+0.42%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.60%

2.43%

+0.17%

Volatility

IJR vs. VSMAX - Volatility Comparison

iShares Core S&P Small-Cap ETF (IJR) and Vanguard Small-Cap Index Fund Admiral Shares (VSMAX) have volatilities of 4.45% and 4.40%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IJRVSMAXDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.45%

4.40%

+0.05%

Volatility (6M)

Calculated over the trailing 6-month period

11.65%

11.72%

-0.07%

Volatility (1Y)

Calculated over the trailing 1-year period

17.54%

16.27%

+1.27%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.41%

20.71%

+0.70%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.91%

21.57%

+1.34%

IJR vs. VSMAX - Expense Ratio Comparison

IJR has a 0.06% expense ratio, which is higher than VSMAX's 0.05% 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. VSMAX - Dividend Comparison

IJR's dividend yield for the trailing twelve months is around 1.15%, less than VSMAX's 1.18% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
VSMAX
Vanguard Small-Cap Index Fund Admiral Shares		1.18%1.33%1.30%1.56%1.54%1.24%1.14%1.39%1.67%1.35%1.49%1.48%

Frequently Asked Questions

With a correlation of 0.94, IJR and VSMAX 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 (4.45%) compared to VSMAX (4.40%). In terms of maximum drawdown, IJR dropped -58.15% vs VSMAX's -59.68%.

VSMAX currently has the higher Sharpe Ratio (1.94 vs 1.81), 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

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