IJT vs. ESML

Last updated Jun 4, 2026

IJT (iShares S&P SmallCap 600 Growth ETF) and ESML (iShares ESG Aware MSCI USA Small-Cap ETF) are both Small Cap Growth Equities funds from iShares - IJT tracks the S&P SmallCap 600 Growth Index while ESML tracks the MSCI USA Small Cap Extended ESG Focus Index. Both are passively managed. Over the past 5 years, IJT returned 5.43%/yr vs 7.18%/yr for ESML. With a 0.96 correlation, they move nearly in lockstep. IJT charges 0.18%/yr vs 0.17%/yr for ESML.

Performance

IJT vs. ESML - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares S&P SmallCap 600 Growth ETF (IJT) and iShares ESG Aware MSCI USA Small-Cap ETF (ESML). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IJT achieves a 15.36% return, which is significantly lower than ESML's 16.26% return.

IJT

• 1D: -0.58%
• 1M: 0.97%
• YTD: 15.36%
• 6M: 13.60%
• 1Y: 26.21%
• 3Y*: 14.39%
• 5Y*: 5.43%
• 10Y*: 10.74%

ESML

• 1D: -0.47%
• 1M: 3.86%
• YTD: 16.26%
• 6M: 15.99%
• 1Y: 34.21%
• 3Y*: 17.27%
• 5Y*: 7.18%
• 10Y*: —

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

IJT vs. ESML - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
IJT iShares S&P SmallCap 600 Growth ETF	15.36%	5.26%	9.33%	17.11%	-21.32%	22.37%	19.22%	20.98%	-8.20%
ESML iShares ESG Aware MSCI USA Small-Cap ETF	16.26%	10.62%	12.01%	17.27%	-17.28%	19.28%	19.56%	29.12%	-10.89%

Correlation

The correlation between IJT and ESML is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Apr 13, 2018	0.96

The correlation between IJT and ESML has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

IJT vs. ESML - Sectors Allocation Comparison

Sectors	IJT	ESML
Technology	20.1%	17.5%
Industrials	20.0%	19.3%
Healthcare	14.5%	12.6%
Financial Services	13.6%	14.4%
Consumer Cyclical	9.8%	11.3%
Real Estate	6.3%	6.5%
Energy	4.9%	5.9%
Basic Materials	2.8%	3.9%
Consumer Defensive	2.8%	3.7%
Communication Services	2.7%	2.2%
Utilities	1.9%	2.7%

Return for Risk

IJT vs. ESML — Risk / Return Rank

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

IJT

IJT Risk / Return Rank: 48
IJT Sharpe Ratio Rank: 42
IJT Sortino Ratio Rank: 44
IJT Omega Ratio Rank: 40
IJT Calmar Ratio Rank: 58
IJT Martin Ratio Rank: 57

ESML

ESML Risk / Return Rank: 66
ESML Sharpe Ratio Rank: 61
ESML Sortino Ratio Rank: 62
ESML Omega Ratio Rank: 57
ESML Calmar Ratio Rank: 75
ESML Martin Ratio Rank: 74

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.

IJT vs. ESML - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P SmallCap 600 Growth ETF (IJT) and iShares ESG Aware MSCI USA Small-Cap ETF (ESML). 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.

	IJT	ESML	Difference
Sharpe ratio Return per unit of total volatility	1.50	2.07	-0.57
Sortino ratio Return per unit of downside risk	2.23	2.95	-0.72
Omega ratio Gain probability vs. loss probability	1.26	1.35	-0.09
Calmar ratio Return relative to maximum drawdown	2.90	3.80	-0.91
Martin ratio Return relative to average drawdown	10.06	14.00	-3.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IJT vs. ESML - Sharpe Ratio Comparison

The current IJT Sharpe Ratio is 1.50, which is comparable to the ESML Sharpe Ratio of 2.07. The chart below compares the historical Sharpe Ratios of IJT and ESML, 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

	IJT	ESML	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.50	2.07	-0.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	0.34	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.46	-0.07

Drawdowns

IJT vs. ESML - Drawdown Comparison

The maximum IJT drawdown since its inception was -57.61%, which is greater than ESML's maximum drawdown of -41.97%. Use the drawdown chart below to compare losses from any high point for IJT and ESML.

Drawdown Indicators

	IJT	ESML	Difference
Max Drawdown Largest peak-to-trough decline	-57.61%	-41.97%	-15.64%
Max Drawdown (1Y) Largest decline over 1 year	-9.08%	-9.04%	-0.04%
Max Drawdown (3Y) Largest decline over 3 years	-27.41%	-26.68%	-0.73%
Max Drawdown (5Y) Largest decline over 5 years	-29.24%	-28.61%	-0.63%
Max Drawdown (10Y) Largest decline over 10 years	-42.03%	—	—
Current Drawdown Current decline from peak	-1.48%	-0.47%	-1.01%
Average Drawdown Average peak-to-trough decline	-10.31%	-8.97%	-1.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.61%	2.45%	+0.16%

Volatility

IJT vs. ESML - Volatility Comparison

iShares S&P SmallCap 600 Growth ETF (IJT) has a higher volatility of 4.61% compared to iShares ESG Aware MSCI USA Small-Cap ETF (ESML) at 4.25%. This indicates that IJT's price experiences larger fluctuations and is considered to be riskier than ESML based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IJT	ESML	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.61%	4.25%	+0.36%
Volatility (6M) Calculated over the trailing 6-month period	12.47%	11.67%	+0.80%
Volatility (1Y) Calculated over the trailing 1-year period	17.56%	16.66%	+0.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.50%	21.23%	+0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.02%	23.40%	-0.38%

IJT vs. ESML - Expense Ratio Comparison

IJT has a 0.18% expense ratio, which is higher than ESML's 0.17% 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

IJT vs. ESML - Dividend Comparison

IJT's dividend yield for the trailing twelve months is around 0.77%, less than ESML's 0.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ESML iShares ESG Aware MSCI USA Small-Cap ETF	0.95%	1.08%	1.22%	1.31%	1.46%	0.94%	0.99%	1.10%	1.07%	0.00%	0.00%	0.00%
IJT iShares S&P SmallCap 600 Growth ETF	0.77%	0.91%	1.06%	1.02%	1.08%	0.63%	0.68%	0.92%	0.92%	0.86%	1.03%	1.14%

Frequently Asked Questions

Can I hold both IJT and ESML in my portfolio?

With a correlation of 0.96, IJT and ESML 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, IJT or ESML?

IJT has higher volatility (4.61%) compared to ESML (4.25%). In terms of maximum drawdown, IJT dropped -57.61% vs ESML's -41.97%.

Which ETF is better, IJT or ESML?

On 5-year performance, ESML leads with 7.18% vs 5.43% for IJT. On fees, ESML is cheaper at 0.17% per year. On volatility, ESML has been the lower-risk option at 4.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IJT or ESML?

Over the 5-year period, ESML has performed better with a 7.18% return vs 5.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IJT or ESML?

ESML is cheaper with a 0.17% expense ratio, compared with 0.18% for IJT.

Which ETF pays a higher dividend yield, IJT or ESML?

ESML has the higher dividend yield at 0.95%, compared with 0.77% for IJT.

What is the main difference between IJT and ESML?

IJT tracks S&P SmallCap 600 Growth Index, while ESML tracks MSCI USA Small Cap Extended ESG Focus Index. Their fees differ too: 0.18% for IJT and 0.17% for ESML.

Which has better risk-adjusted returns?

ESML currently has the higher Sharpe Ratio (2.07 vs 1.50), 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.