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IJS vs. RWJ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IJS vs. RWJ

Last updated Aug 6, 2026
Documentation

IJS (iShares S&P SmallCap 600 Value ETF) and RWJ (Invesco S&P SmallCap 600 Revenue ETF) are both Small Cap Value Equities funds - IJS tracks the S&P SmallCap 600 Value Index while RWJ tracks the S&P SmallCap 600 Revenue-Weighted Index. Both are passively managed. Over the past 10 years, IJS returned 10.18%/yr vs 13.57%/yr for RWJ. Their correlation of 0.93 means they have usually moved in the same direction. IJS charges 0.25%/yr vs 0.39%/yr for RWJ.

Performance

IJS vs. RWJ - Performance Comparison

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

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Returns By Period

In the year-to-date period, IJS achieves a 22.70% return, which is significantly lower than RWJ's 28.32% return. Over the past 10 years, IJS has underperformed RWJ with an annualized return of 10.18%, while RWJ has yielded a comparatively higher 13.57% annualized return.

IJS

1D
-1.10%
1M
2.48%
6M
11.64%
YTD
22.70%
1Y
39.10%
3Y*
13.76%
5Y*
8.15%
10Y*
10.18%
ALL TIME*
10.02%

RWJ

1D
-1.05%
1M
4.28%
6M
16.47%
YTD
28.32%
1Y
43.01%
3Y*
17.28%
5Y*
11.24%
10Y*
13.57%
ALL TIME*
12.65%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

IJS

iShares S&P SmallCap 600 Value ETF
$31.26M$27.82M$50.55M

RWJ

Invesco S&P SmallCap 600 Revenue ETF
$4.99M$5.42M$5.09M

IJS vs. RWJ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IJS
iShares S&P SmallCap 600 Value ETF		22.70%6.54%7.33%14.68%-11.34%30.53%2.63%24.11%-12.86%11.35%
RWJ
Invesco S&P SmallCap 600 Revenue ETF		28.32%7.75%11.81%16.21%-10.97%52.82%20.83%20.29%-16.95%5.30%

Correlation

The correlation between IJS and RWJ is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.97

Correlation (3Y)
Balances recent behavior with more history.

0.97

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.97

Correlation (10Y)
Provides a long-term view across more market conditions.

0.96

Correlation (All Time)
Calculated using the full available price history since Feb 22, 2008

0.93

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

IJS vs. RWJ - Sectors Allocation Comparison

Sectors
IJS
RWJ

Financial Services

21.6%
11.6%

Consumer Cyclical

15.0%
25.4%

Industrials

12.9%
15.3%

Technology

11.5%
10.3%

Real Estate

8.3%
4.1%

Energy

7.6%
6.5%

Healthcare

6.3%
11.0%

Basic Materials

5.9%
4.7%

Consumer Defensive

5.5%
7.7%

Communication Services

3.5%
2.6%

Utilities

2.1%
0.9%

Financial Services

IJS
21.6%
RWJ
11.6%

Consumer Cyclical

IJS
15.0%
RWJ
25.4%

Industrials

IJS
12.9%
RWJ
15.3%

Technology

IJS
11.5%
RWJ
10.3%

Real Estate

IJS
8.3%
RWJ
4.1%

Energy

IJS
7.6%
RWJ
6.5%

Healthcare

IJS
6.3%
RWJ
11.0%

Basic Materials

IJS
5.9%
RWJ
4.7%

Consumer Defensive

IJS
5.5%
RWJ
7.7%

Communication Services

IJS
3.5%
RWJ
2.6%

Utilities

IJS
2.1%
RWJ
0.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares S&P SmallCap 600 Value ETF

Invesco S&P SmallCap 600 Revenue ETF

Often compared with IJS:
IJS vs. IJRIJS vs. AVUVIJS vs. VBRIJS vs. VIOVIJS vs. IWNIJS vs. VOOIJS vs. ISCV
Often compared with RWJ:
RWJ vs. AVUVXRWJ vs. XSVMRWJ vs. RWKRWJ vs. RZVRWJ vs. CALFRWJ vs. RFVRWJ vs. FSMD

Return for Risk

IJS vs. RWJ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
IJS
IJS Risk / Return Rank: 8686
Overall Rank
IJS Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
IJS Sortino Ratio Rank: 8787
Sortino Ratio Rank
IJS Omega Ratio Rank: 8282
Omega Ratio Rank
IJS Calmar Ratio Rank: 9090
Calmar Ratio Rank
IJS Martin Ratio Rank: 8888
Martin Ratio Rank
RWJ
RWJ Risk / Return Rank: 8787
Overall Rank
RWJ Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
RWJ Sortino Ratio Rank: 8989
Sortino Ratio Rank
RWJ Omega Ratio Rank: 8585
Omega Ratio Rank
RWJ Calmar Ratio Rank: 8787
Calmar Ratio Rank
RWJ Martin Ratio Rank: 8383
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IJS vs. RWJ - Risk-Adjusted Trends Comparison

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

IJSRWJDifference
Sharpe ratioReturn per unit of total volatility
2.22
2.33

-0.11

Sortino ratioReturn per unit of downside risk
3.20
3.37

-0.17

Omega ratioGain probability vs. loss probability

1.39

1.40

-0.01

Calmar ratioReturn relative to maximum drawdown

4.23

3.82

+0.41

Martin ratioReturn relative to average drawdown

14.50

12.84

+1.67

IJS vs. RWJ - Sharpe Ratio Comparison

The current IJS Sharpe Ratio is 2.22, which is comparable to the RWJ Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of IJS and RWJ, 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

IJS vs. RWJ - Drawdown Comparison

The maximum IJS drawdown since its inception was -60.11%, which is greater than RWJ's maximum drawdown of -55.97%. Use the drawdown chart below to compare losses from any high point for IJS and RWJ.

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Drawdown Indicators

IJSRWJDifference

Max Drawdown

Largest peak-to-trough decline

-60.11%

-55.97%

-4.14%

Max Drawdown (1Y)

Largest decline over 1 year

-9.28%

-11.31%

+2.03%

Max Drawdown (3Y)

Largest decline over 3 years

-28.65%

-29.29%

+0.64%

Max Drawdown (5Y)

Largest decline over 5 years

-28.65%

-29.29%

+0.64%

Max Drawdown (10Y)

Largest decline over 10 years

-47.68%

-51.33%

+3.65%

Current Drawdown

Current decline from peak

-1.10%

-1.05%

-0.05%

Average Drawdown

Average peak-to-trough decline

-9.83%

-9.16%

-0.67%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.70%

3.36%

-0.66%

Volatility

IJS vs. RWJ - Volatility Comparison

The current volatility for iShares S&P SmallCap 600 Value ETF (IJS) is 4.13%, while Invesco S&P SmallCap 600 Revenue ETF (RWJ) has a volatility of 4.65%. This indicates that IJS experiences smaller price fluctuations and is considered to be less risky than RWJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IJSRWJDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.13%

4.65%

-0.52%

Volatility (6M)

Calculated over the trailing 6-month period

11.35%

12.32%

-0.97%

Volatility (1Y)

Calculated over the trailing 1-year period

17.68%

18.52%

-0.84%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.71%

23.48%

-1.77%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.55%

26.06%

-2.51%

IJS vs. RWJ - Expense Ratio Comparison

IJS has a 0.25% expense ratio, which is lower than RWJ's 0.39% expense ratio.

Dividends

IJS vs. RWJ - Dividend Comparison

IJS's dividend yield for the trailing twelve months is around 1.30%, more than RWJ's 0.98% yield.

PositionTTM20252024202320222021202020192018201720162015
IJS
iShares S&P SmallCap 600 Value ETF		1.30%1.62%1.78%1.42%1.46%1.52%1.00%1.66%1.75%1.41%1.22%1.59%
RWJ
Invesco S&P SmallCap 600 Revenue ETF		0.98%1.11%1.15%1.34%1.02%0.61%0.89%1.22%1.44%1.11%0.60%0.74%

Frequently Asked Questions

With a correlation of 0.97, IJS and RWJ 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.

RWJ has higher volatility (4.65%) compared to IJS (4.13%). In terms of maximum drawdown, IJS dropped -60.11% vs RWJ's -55.97%.

On 10-year performance, RWJ leads with 13.57% vs 10.18% for IJS. On fees, IJS is cheaper at 0.25% per year. On volatility, IJS has been the lower-risk option at 4.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, RWJ has performed better with a 13.57% return vs 10.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IJS is cheaper with a 0.25% expense ratio, compared with 0.39% for RWJ.

IJS has the higher dividend yield at 1.30%, compared with 0.98% for RWJ.

IJS tracks S&P SmallCap 600 Value Index, while RWJ tracks S&P SmallCap 600 Revenue-Weighted Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.25% for IJS and 0.39% for RWJ.

RWJ currently has the higher Sharpe Ratio (2.33 vs 2.22), 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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