IJS vs. ACWI

Last updated Jun 3, 2026

IJS (iShares S&P SmallCap 600 Value ETF) and ACWI (iShares MSCI ACWI ETF) are both exchange-traded funds - IJS is a Small Cap Value Equities fund tracking the S&P SmallCap 600/Citigroup Value Index, while ACWI is a Global Equities fund tracking the MSCI All Country World Index. Both are passively managed. Over the past 10 years, IJS returned 10.20%/yr vs 12.94%/yr for ACWI. A 0.78 correlation means they provide meaningful diversification when combined. IJS charges 0.25%/yr vs 0.32%/yr for ACWI.

Performance

IJS vs. ACWI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares S&P SmallCap 600 Value ETF (IJS) and iShares MSCI ACWI ETF (ACWI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IJS achieves a 16.54% return, which is significantly higher than ACWI's 13.06% return. Over the past 10 years, IJS has underperformed ACWI with an annualized return of 10.20%, while ACWI has yielded a comparatively higher 12.94% annualized return.

IJS

• 1D: 1.07%
• 1M: 2.26%
• YTD: 16.54%
• 6M: 17.68%
• 1Y: 41.12%
• 3Y*: 14.47%
• 5Y*: 5.86%
• 10Y*: 10.20%

ACWI

• 1D: 0.55%
• 1M: 5.48%
• YTD: 13.06%
• 6M: 14.33%
• 1Y: 30.55%
• 3Y*: 21.49%
• 5Y*: 11.67%
• 10Y*: 12.94%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IJS vs. ACWI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IJS iShares S&P SmallCap 600 Value ETF	16.54%	6.54%	7.33%	14.68%	-11.34%	30.53%	2.63%	24.11%	-12.86%	11.35%
ACWI iShares MSCI ACWI ETF	13.06%	22.41%	17.45%	22.27%	-18.39%	18.66%	16.34%	26.59%	-9.19%	24.33%

Correlation

The correlation between IJS and ACWI is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since Mar 31, 2008	0.78

The correlation between IJS and ACWI has been stable across timeframes, ranging from 0.70 to 0.78 - a consistent structural relationship.

IJS vs. ACWI - Sectors Allocation Comparison

Sectors	IJS	ACWI
Financial Services	19.8%	16.1%
Consumer Cyclical	15.9%	9.3%
Industrials	11.6%	10.9%
Technology	11.3%	29.4%
Real Estate	8.7%	1.8%
Energy	7.6%	4.2%
Healthcare	7.6%	8.1%
Basic Materials	7.1%	3.7%
Communication Services	4.4%	9.0%
Consumer Defensive	3.8%	5.0%
Utilities	2.2%	2.6%

Return for Risk

IJS vs. ACWI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IJS

IJS Risk / Return Rank: 71
IJS Sharpe Ratio Rank: 68
IJS Sortino Ratio Rank: 69
IJS Omega Ratio Rank: 63
IJS Calmar Ratio Rank: 82
IJS Martin Ratio Rank: 74

ACWI

ACWI Risk / Return Rank: 71
ACWI Sharpe Ratio Rank: 73
ACWI Sortino Ratio Rank: 72
ACWI Omega Ratio Rank: 72
ACWI Calmar Ratio Rank: 65
ACWI Martin Ratio Rank: 75

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.

IJS vs. ACWI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P SmallCap 600 Value ETF (IJS) and iShares MSCI ACWI ETF (ACWI). 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.

	IJS	ACWI	Difference
Sharpe ratio Return per unit of total volatility	2.26	2.41	-0.14
Sortino ratio Return per unit of downside risk	3.20	3.31	-0.11
Omega ratio Gain probability vs. loss probability	1.39	1.44	-0.05
Calmar ratio Return relative to maximum drawdown	4.35	3.24	+1.11
Martin ratio Return relative to average drawdown	14.25	14.58	-0.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IJS vs. ACWI - Sharpe Ratio Comparison

The current IJS Sharpe Ratio is 2.26, which is comparable to the ACWI Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of IJS and ACWI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IJS	ACWI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.26	2.41	-0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.27	0.73	-0.46
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	0.76	-0.33
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.43	-0.02

Drawdowns

IJS vs. ACWI - Drawdown Comparison

The maximum IJS drawdown since its inception was -60.11%, which is greater than ACWI's maximum drawdown of -56.00%. Use the drawdown chart below to compare losses from any high point for IJS and ACWI.

Drawdown Indicators

	IJS	ACWI	Difference
Max Drawdown Largest peak-to-trough decline	-60.11%	-56.00%	-4.11%
Max Drawdown (1Y) Largest decline over 1 year	-9.28%	-9.73%	+0.45%
Max Drawdown (3Y) Largest decline over 3 years	-28.65%	-16.55%	-12.10%
Max Drawdown (5Y) Largest decline over 5 years	-28.65%	-26.42%	-2.23%
Max Drawdown (10Y) Largest decline over 10 years	-47.68%	-33.53%	-14.15%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-9.89%	-8.61%	-1.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.83%	2.16%	+0.67%

Volatility

IJS vs. ACWI - Volatility Comparison

iShares S&P SmallCap 600 Value ETF (IJS) has a higher volatility of 4.43% compared to iShares MSCI ACWI ETF (ACWI) at 3.88%. This indicates that IJS's price experiences larger fluctuations and is considered to be riskier than ACWI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IJS	ACWI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.43%	3.88%	+0.55%
Volatility (6M) Calculated over the trailing 6-month period	11.44%	10.27%	+1.17%
Volatility (1Y) Calculated over the trailing 1-year period	18.27%	12.77%	+5.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.98%	16.05%	+5.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.60%	17.11%	+6.49%

IJS vs. ACWI - Expense Ratio Comparison

IJS has a 0.25% expense ratio, which is lower than ACWI's 0.32% expense ratio.

Dividends

IJS vs. ACWI - Dividend Comparison

IJS's dividend yield for the trailing twelve months is around 1.28%, less than ACWI's 1.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACWI iShares MSCI ACWI ETF	1.37%	1.55%	1.70%	1.88%	1.79%	1.71%	1.43%	2.33%	2.18%	1.94%	2.19%	2.56%
IJS iShares S&P SmallCap 600 Value ETF	1.28%	1.62%	1.78%	1.42%	1.46%	1.52%	1.00%	1.66%	1.75%	1.41%	1.22%	1.59%

Frequently Asked Questions

Can I hold both IJS and ACWI in my portfolio?

IJS and ACWI have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IJS or ACWI?

IJS has higher volatility (4.43%) compared to ACWI (3.88%). In terms of maximum drawdown, IJS dropped -60.11% vs ACWI's -56.00%.

Which ETF is better, IJS or ACWI?

On 10-year performance, ACWI leads with 12.94% vs 10.20% for IJS. On fees, IJS is cheaper at 0.25% per year. On volatility, ACWI has been the lower-risk option at 3.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IJS or ACWI?

Over the 10-year period, ACWI has performed better with a 12.94% return vs 10.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IJS or ACWI?

IJS is cheaper with a 0.25% expense ratio, compared with 0.32% for ACWI.

Which ETF pays a higher dividend yield, IJS or ACWI?

ACWI has the higher dividend yield at 1.37%, compared with 1.28% for IJS.

What is the main difference between IJS and ACWI?

IJS is categorized as Small Cap Value Equities, while ACWI is Global Equities. IJS tracks S&P SmallCap 600/Citigroup Value Index, while ACWI tracks MSCI All Country World Index. Their fees differ too: 0.25% for IJS and 0.32% for ACWI.

Which has better risk-adjusted returns?

ACWI currently has the higher Sharpe Ratio (2.41 vs 2.26), 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.