IJS vs. XSHD

Last updated Jul 22, 2026

IJS (iShares S&P SmallCap 600 Value ETF) and XSHD (Invesco S&P SmallCap High Dividend Low Volatility ETF) are both exchange-traded funds - IJS is a Small Cap Value Equities fund tracking the S&P SmallCap 600 Value Index, while XSHD is a Volatility Hedged Equity fund tracking the S&P SmallCap 600 Low Volatility High Dividend Index. Both are passively managed. Over the past 5 years, IJS returned 8.56%/yr vs -2.42%/yr for XSHD. Their correlation of 0.88 suggests significant overlap in exposure. IJS charges 0.25%/yr vs 0.30%/yr for XSHD.

Performance

IJS vs. XSHD - 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 High Dividend Low Volatility ETF (XSHD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IJS achieves a 21.47% return, which is significantly higher than XSHD's 16.35% return.

IJS

• 1D: 1.01%
• 1M: 3.02%
• 6M: 15.18%
• YTD: 21.47%
• 1Y: 36.25%
• 3Y*: 13.54%
• 5Y*: 8.56%
• 10Y*: 10.11%
• ALL TIME*: 9.99%

XSHD

• 1D: -0.24%
• 1M: 6.28%
• 6M: 9.90%
• YTD: 16.35%
• 1Y: 14.03%
• 3Y*: 2.39%
• 5Y*: -2.42%
• 10Y*: —
• ALL TIME*: 0.13%

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

IJS vs. XSHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IJS iShares S&P SmallCap 600 Value ETF	21.47%	6.54%	7.33%	14.68%	-11.34%	30.53%	2.63%	24.11%	-12.86%	11.35%
XSHD Invesco S&P SmallCap High Dividend Low Volatility ETF	16.35%	-6.41%	-5.25%	3.00%	-19.48%	18.31%	-13.55%	17.91%	-7.86%	1.52%

Correlation

The correlation between IJS and XSHD is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Dec 1, 2016	0.88

The correlation between IJS and XSHD shifts across timeframes, from 0.79 (1 year) to 0.90 (5 years), reflecting how their relationship changes across market environments.

IJS vs. XSHD - Sectors Allocation Comparison

Sectors	IJS	XSHD
Financial Services	20.2%	0.1%
Consumer Cyclical	15.2%	3.8%
Technology	13.4%	-
Industrials	12.2%	12.3%
Real Estate	8.5%	41.6%
Healthcare	7.7%	0.6%
Basic Materials	6.2%	5.6%
Energy	6.0%	7.7%
Consumer Defensive	5.0%	11.9%
Communication Services	3.8%	2.4%
Utilities	2.0%	12.3%

Return for Risk

IJS vs. XSHD — Risk / Return Rank

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

IJS

IJS Risk / Return Rank: 85
IJS Sharpe Ratio Rank: 84
IJS Sortino Ratio Rank: 85
IJS Omega Ratio Rank: 80
IJS Calmar Ratio Rank: 89
IJS Martin Ratio Rank: 86

XSHD

XSHD Risk / Return Rank: 35
XSHD Sharpe Ratio Rank: 35
XSHD Sortino Ratio Rank: 37
XSHD Omega Ratio Rank: 32
XSHD Calmar Ratio Rank: 35
XSHD Martin Ratio Rank: 34

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. XSHD - 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 High Dividend Low Volatility ETF (XSHD). 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	XSHD	Difference
Sharpe ratio: Return per unit of total volatility	2.03	0.94	+1.10
Sortino ratio: Return per unit of downside risk	2.94	1.49	+1.45
Omega ratio: Gain probability vs. loss probability	1.35	1.17	+0.18
Calmar ratio: Return relative to maximum drawdown	3.92	1.34	+2.58
Martin ratio: Return relative to average drawdown	12.95	3.65	+9.31

IJS vs. XSHD - Sharpe Ratio Comparison

The current IJS Sharpe Ratio is 2.03, which is higher than the XSHD Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of IJS and XSHD, 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. XSHD - Drawdown Comparison

The maximum IJS drawdown since its inception was -60.11%, which is greater than XSHD's maximum drawdown of -49.53%. Use the drawdown chart below to compare losses from any high point for IJS and XSHD.

Drawdown Indicators

	IJS	XSHD	Difference
Max Drawdown Largest peak-to-trough decline	-60.11%	-49.53%	-10.58%
Max Drawdown (1Y) Largest decline over 1 year	-9.28%	-10.51%	+1.23%
Max Drawdown (3Y) Largest decline over 3 years	-28.65%	-20.77%	-7.88%
Max Drawdown (5Y) Largest decline over 5 years	-28.65%	-34.67%	+6.02%
Max Drawdown (10Y) Largest decline over 10 years	-47.68%	—	—
Current Drawdown Current decline from peak	-0.56%	-18.97%	+18.41%
Average Drawdown Average peak-to-trough decline	-9.85%	-16.43%	+6.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.81%	3.86%	-1.05%

Volatility

IJS vs. XSHD - Volatility Comparison

The current volatility for iShares S&P SmallCap 600 Value ETF (IJS) is 3.60%, while Invesco S&P SmallCap High Dividend Low Volatility ETF (XSHD) has a volatility of 5.13%. This indicates that IJS experiences smaller price fluctuations and is considered to be less risky than XSHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IJS	XSHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.60%	5.13%	-1.53%
Volatility (6M) Calculated over the trailing 6-month period	11.69%	10.41%	+1.28%
Volatility (1Y) Calculated over the trailing 1-year period	17.92%	15.06%	+2.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.75%	18.82%	+2.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.55%	22.17%	+1.38%

IJS vs. XSHD - Expense Ratio Comparison

IJS has a 0.25% expense ratio, which is lower than XSHD's 0.30% expense ratio.

Dividends

IJS vs. XSHD - Dividend Comparison

IJS's dividend yield for the trailing twelve months is around 1.31%, less than XSHD's 4.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IJS iShares S&P SmallCap 600 Value ETF	1.31%	1.62%	1.78%	1.42%	1.46%	1.52%	1.00%	1.66%	1.75%	1.41%	1.22%	1.59%
XSHD Invesco S&P SmallCap High Dividend Low Volatility ETF	4.82%	6.45%	7.25%	7.62%	6.77%	3.86%	5.55%	4.88%	5.49%	4.11%	0.41%	0.00%

Frequently Asked Questions

Can I hold both IJS and XSHD in my portfolio?

IJS and XSHD have a correlation of 0.79, 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 XSHD?

XSHD has higher volatility (5.13%) compared to IJS (3.60%). In terms of maximum drawdown, IJS dropped -60.11% vs XSHD's -49.53%.

Which ETF is better, IJS or XSHD?

On 5-year performance, IJS leads with 8.56% vs -2.42% for XSHD. On fees, IJS is cheaper at 0.25% per year. On volatility, IJS 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 XSHD?

Over the 5-year period, IJS has performed better with a 8.56% return vs -2.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IJS or XSHD?

IJS is cheaper with a 0.25% expense ratio, compared with 0.30% for XSHD.

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

XSHD has the higher dividend yield at 4.82%, compared with 1.31% for IJS.

What is the main difference between IJS and XSHD?

IJS is categorized as Small Cap Value Equities, while XSHD is Volatility Hedged Equity. IJS tracks S&P SmallCap 600 Value Index, while XSHD tracks S&P SmallCap 600 Low Volatility High Dividend Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.25% for IJS and 0.30% for XSHD.

Which has better risk-adjusted returns?

IJS currently has the higher Sharpe Ratio (2.03 vs 0.94), 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.