IJS vs. SMIG

Last updated Jun 24, 2026

IJS (iShares S&P SmallCap 600 Value ETF) and SMIG (Bahl & Gaynor Small/Mid Cap Income Growth ETF) are both Small Cap Value Equities funds. IJS is passively managed, while SMIG is actively managed. Over the past 3 years, IJS returned 15.33%/yr vs 13.57%/yr for SMIG. Their correlation of 0.88 suggests significant overlap in exposure. IJS charges 0.25%/yr vs 0.60%/yr for SMIG.

Performance

IJS vs. SMIG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares S&P SmallCap 600 Value ETF (IJS) and Bahl & Gaynor Small/Mid Cap Income Growth ETF (SMIG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IJS achieves a 17.37% return, which is significantly higher than SMIG's 12.95% return.

IJS

• 1D: -0.23%
• 1M: 2.94%
• YTD: 17.37%
• 6M: 16.01%
• 1Y: 37.29%
• 3Y*: 15.33%
• 5Y*: 6.10%
• 10Y*: 10.48%

SMIG

• 1D: -0.15%
• 1M: 1.34%
• YTD: 12.95%
• 6M: 11.75%
• 1Y: 14.54%
• 3Y*: 13.57%
• 5Y*: —
• 10Y*: —

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

IJS vs. SMIG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
IJS iShares S&P SmallCap 600 Value ETF	17.37%	6.54%	7.33%	14.68%	-11.34%	3.55%
SMIG Bahl & Gaynor Small/Mid Cap Income Growth ETF	12.95%	0.78%	17.63%	13.62%	-11.83%	5.23%

Correlation

The correlation between IJS and SMIG is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (All Time) Calculated using the full available price history since Aug 26, 2021	0.88

The correlation between IJS and SMIG has been stable across timeframes, ranging from 0.81 to 0.88 - a consistent structural relationship.

IJS vs. SMIG - Sectors Allocation Comparison

Sectors	IJS	SMIG
Financial Services	19.4%	21.1%
Consumer Cyclical	15.4%	13.5%
Technology	13.4%	10.7%
Industrials	11.6%	18.2%
Real Estate	8.6%	9.8%
Healthcare	7.3%	2.7%
Energy	7.0%	10.4%
Basic Materials	6.9%	2.0%
Communication Services	4.4%	2.2%
Consumer Defensive	3.9%	1.9%
Utilities	2.1%	9.8%

Return for Risk

IJS vs. SMIG — Risk / Return Rank

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

IJS

IJS Risk / Return Rank: 69
IJS Sharpe Ratio Rank: 65
IJS Sortino Ratio Rank: 67
IJS Omega Ratio Rank: 60
IJS Calmar Ratio Rank: 80
IJS Martin Ratio Rank: 73

SMIG

SMIG Risk / Return Rank: 36
SMIG Sharpe Ratio Rank: 37
SMIG Sortino Ratio Rank: 38
SMIG Omega Ratio Rank: 34
SMIG Calmar Ratio Rank: 37
SMIG Martin Ratio Rank: 32

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. SMIG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P SmallCap 600 Value ETF (IJS) and Bahl & Gaynor Small/Mid Cap Income Growth ETF (SMIG). 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	SMIG	Difference
Sharpe ratio: Return per unit of total volatility	2.05	1.22	+0.83
Sortino ratio: Return per unit of downside risk	2.93	1.86	+1.07
Omega ratio: Gain probability vs. loss probability	1.35	1.21	+0.14
Calmar ratio: Return relative to maximum drawdown	4.04	1.71	+2.32
Martin ratio: Return relative to average drawdown	13.28	4.45	+8.82

IJS vs. SMIG - Sharpe Ratio Comparison

The current IJS Sharpe Ratio is 2.05, which is higher than the SMIG Sharpe Ratio of 1.22. The chart below compares the historical Sharpe Ratios of IJS and SMIG, 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. SMIG - Drawdown Comparison

The maximum IJS drawdown since its inception was -60.11%, which is greater than SMIG's maximum drawdown of -19.65%. Use the drawdown chart below to compare losses from any high point for IJS and SMIG.

Drawdown Indicators

	IJS	SMIG	Difference
Max Drawdown Largest peak-to-trough decline	-60.11%	-19.65%	-40.46%
Max Drawdown (1Y) Largest decline over 1 year	-9.28%	-8.52%	-0.76%
Max Drawdown (3Y) Largest decline over 3 years	-28.65%	-19.23%	-9.42%
Max Drawdown (5Y) Largest decline over 5 years	-28.65%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-47.68%	—	—
Current Drawdown Current decline from peak	-1.64%	-0.15%	-1.49%
Average Drawdown Average peak-to-trough decline	-9.87%	-6.48%	-3.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.82%	3.27%	-0.45%

Volatility

IJS vs. SMIG - Volatility Comparison

iShares S&P SmallCap 600 Value ETF (IJS) has a higher volatility of 4.85% compared to Bahl & Gaynor Small/Mid Cap Income Growth ETF (SMIG) at 3.60%. This indicates that IJS's price experiences larger fluctuations and is considered to be riskier than SMIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IJS	SMIG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.85%	3.60%	+1.25%
Volatility (6M) Calculated over the trailing 6-month period	11.82%	8.48%	+3.34%
Volatility (1Y) Calculated over the trailing 1-year period	18.34%	12.05%	+6.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.94%	16.16%	+5.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.59%	16.16%	+7.43%

IJS vs. SMIG - Expense Ratio Comparison

IJS has a 0.25% expense ratio, which is lower than SMIG's 0.60% expense ratio.

Dividends

IJS vs. SMIG - Dividend Comparison

IJS's dividend yield for the trailing twelve months is around 1.36%, less than SMIG's 1.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IJS iShares S&P SmallCap 600 Value ETF	1.36%	1.62%	1.78%	1.42%	1.46%	1.52%	1.00%	1.66%	1.75%	1.41%	1.22%	1.59%
SMIG Bahl & Gaynor Small/Mid Cap Income Growth ETF	1.71%	1.82%	1.75%	1.91%	2.00%	0.50%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IJS and SMIG in my portfolio?

IJS and SMIG have a correlation of 0.81, 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 SMIG?

IJS has higher volatility (4.85%) compared to SMIG (3.60%). In terms of maximum drawdown, IJS dropped -60.11% vs SMIG's -19.65%.

Which ETF is better, IJS or SMIG?

On 3-year performance, IJS leads with 15.33% vs 13.57% for SMIG. On fees, IJS is cheaper at 0.25% per year. On volatility, SMIG has been the lower-risk option at 3.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IJS or SMIG?

Over the 3-year period, IJS has performed better with a 15.33% return vs 13.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IJS or SMIG?

IJS is cheaper with a 0.25% expense ratio, compared with 0.60% for SMIG.

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

SMIG has the higher dividend yield at 1.71%, compared with 1.36% for IJS.

What is the main difference between IJS and SMIG?

They also come from different issuers: iShares and Bahl & Gaynor. Their fees differ too: 0.25% for IJS and 0.60% for SMIG.

Which has better risk-adjusted returns?

IJS currently has the higher Sharpe Ratio (2.05 vs 1.22), 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.