IJS vs. IWN

Last updated Jun 23, 2026

IJS (iShares S&P SmallCap 600 Value ETF) and IWN (iShares Russell 2000 Value ETF) are both Small Cap Value Equities funds from iShares - IJS tracks the S&P SmallCap 600 Value Index while IWN tracks the Russell 2000 Value Index. Both are passively managed. Over the past 10 years, IJS returned 10.51%/yr vs 10.74%/yr for IWN. With a 0.97 correlation, they move nearly in lockstep. IJS charges 0.25%/yr vs 0.24%/yr for IWN.

Performance

IJS vs. IWN - 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 Russell 2000 Value ETF (IWN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IJS achieves a 17.64% return, which is significantly lower than IWN's 21.06% return. Both investments have delivered pretty close results over the past 10 years, with IJS having a 10.51% annualized return and IWN not far ahead at 10.74%.

IJS

• 1D: -0.23%
• 1M: 3.17%
• YTD: 17.64%
• 6M: 15.52%
• 1Y: 39.39%
• 3Y*: 15.42%
• 5Y*: 6.48%
• 10Y*: 10.51%

IWN

• 1D: 0.52%
• 1M: 3.53%
• YTD: 21.06%
• 6M: 18.12%
• 1Y: 44.70%
• 3Y*: 19.27%
• 5Y*: 7.50%
• 10Y*: 10.74%

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

IJS vs. IWN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IJS iShares S&P SmallCap 600 Value ETF	17.64%	6.54%	7.33%	14.68%	-11.34%	30.53%	2.63%	24.11%	-12.86%	11.35%
IWN iShares Russell 2000 Value ETF	21.06%	12.40%	7.63%	14.56%	-14.77%	27.96%	4.66%	22.01%	-13.01%	7.69%

Correlation

The correlation between IJS and IWN is 0.95, 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	0.95
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	0.98
Correlation (All Time) Calculated using the full available price history since Jul 28, 2000	0.97

The correlation between IJS and IWN has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

IJS vs. IWN - Sectors Allocation Comparison

Sectors	IJS	IWN
Financial Services	19.4%	23.9%
Consumer Cyclical	15.4%	8.9%
Technology	13.4%	11.6%
Industrials	11.6%	12.1%
Real Estate	8.6%	10.2%
Healthcare	7.3%	10.1%
Energy	7.0%	7.9%
Basic Materials	6.9%	5.4%
Communication Services	4.4%	2.7%
Consumer Defensive	3.9%	2.1%
Utilities	2.1%	5.1%

Return for Risk

IJS vs. IWN — Risk / Return Rank

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

IJS

IJS Risk / Return Rank: 72
IJS Sharpe Ratio Rank: 69
IJS Sortino Ratio Rank: 71
IJS Omega Ratio Rank: 63
IJS Calmar Ratio Rank: 83
IJS Martin Ratio Rank: 76

IWN

IWN Risk / Return Rank: 83
IWN Sharpe Ratio Rank: 81
IWN Sortino Ratio Rank: 81
IWN Omega Ratio Rank: 74
IWN Calmar Ratio Rank: 90
IWN Martin Ratio Rank: 87

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. IWN - 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 Russell 2000 Value ETF (IWN). 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.

	IJS	IWN	Difference
Sharpe ratio: Return per unit of total volatility	2.16	2.49	-0.33
Sortino ratio: Return per unit of downside risk	3.07	3.45	-0.38
Omega ratio: Gain probability vs. loss probability	1.37	1.42	-0.05
Calmar ratio: Return relative to maximum drawdown	4.26	5.31	-1.05
Martin ratio: Return relative to average drawdown	14.04	17.88	-3.84

IJS vs. IWN - Sharpe Ratio Comparison

The current IJS Sharpe Ratio is 2.16, which is comparable to the IWN Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of IJS and IWN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IJS vs. IWN - Drawdown Comparison

The maximum IJS drawdown since its inception was -60.11%, roughly equal to the maximum IWN drawdown of -61.55%. Use the drawdown chart below to compare losses from any high point for IJS and IWN.

Drawdown Indicators

	IJS	IWN	Difference
Max Drawdown Largest peak-to-trough decline	-60.11%	-61.55%	+1.44%
Max Drawdown (1Y) Largest decline over 1 year	-9.28%	-8.45%	-0.83%
Max Drawdown (3Y) Largest decline over 3 years	-28.65%	-26.70%	-1.95%
Max Drawdown (5Y) Largest decline over 5 years	-28.65%	-26.70%	-1.95%
Max Drawdown (10Y) Largest decline over 10 years	-47.68%	-46.08%	-1.60%
Current Drawdown Current decline from peak	-1.42%	0.00%	-1.42%
Average Drawdown Average peak-to-trough decline	-9.87%	-10.14%	+0.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.81%	2.51%	+0.30%

Volatility

IJS vs. IWN - Volatility Comparison

The current volatility for iShares S&P SmallCap 600 Value ETF (IJS) is 4.84%, while iShares Russell 2000 Value ETF (IWN) has a volatility of 5.29%. This indicates that IJS experiences smaller price fluctuations and is considered to be less risky than IWN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IJS	IWN	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.84%	5.29%	-0.45%
Volatility (6M) Calculated over the trailing 6-month period	11.82%	12.29%	-0.47%
Volatility (1Y) Calculated over the trailing 1-year period	18.38%	18.08%	+0.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.94%	21.41%	+0.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.62%	23.42%	+0.20%

IJS vs. IWN - Expense Ratio Comparison

IJS has a 0.25% expense ratio, which is higher than IWN's 0.24% 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

IJS vs. IWN - Dividend Comparison

IJS's dividend yield for the trailing twelve months is around 1.35%, less than IWN's 1.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IJS iShares S&P SmallCap 600 Value ETF	1.35%	1.62%	1.78%	1.42%	1.46%	1.52%	1.00%	1.66%	1.75%	1.41%	1.22%	1.59%
IWN iShares Russell 2000 Value ETF	1.46%	1.70%	1.80%	2.04%	2.12%	1.48%	1.60%	1.92%	1.99%	1.78%	1.74%	2.15%

Frequently Asked Questions

Can I hold both IJS and IWN in my portfolio?

With a correlation of 0.95, IJS and IWN 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.

Which is riskier, IJS or IWN?

IWN has higher volatility (5.29%) compared to IJS (4.84%). In terms of maximum drawdown, IJS dropped -60.11% vs IWN's -61.55%.

Which ETF is better, IJS or IWN?

On 10-year performance, IWN leads with 10.74% vs 10.51% for IJS. On fees, IWN is cheaper at 0.24% per year. On volatility, IJS has been the lower-risk option at 4.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IJS or IWN?

Over the 10-year period, IWN has performed better with a 10.74% return vs 10.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IJS or IWN?

IWN is cheaper with a 0.24% expense ratio, compared with 0.25% for IJS.

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

IWN has the higher dividend yield at 1.46%, compared with 1.35% for IJS.

What is the main difference between IJS and IWN?

IJS tracks S&P SmallCap 600 Value Index, while IWN tracks Russell 2000 Value Index. Their fees differ too: 0.25% for IJS and 0.24% for IWN.

Which has better risk-adjusted returns?

IWN currently has the higher Sharpe Ratio (2.49 vs 2.16), 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.