IMCB vs. ISCB

Last updated Jun 4, 2026

IMCB (iShares Morningstar Mid-Cap ETF) and ISCB (iShares Morningstar Small-Cap ETF) are both exchange-traded funds - IMCB is a Mid Cap Blend Equities fund tracking the IMCB-US - Morningstar U.S. Mid Cap Index, while ISCB is a Small Cap Blend Equities fund tracking the Morningstar US Small Cap Extended Index. Both are passively managed. Over the past 10 years, IMCB returned 11.32%/yr vs 9.30%/yr for ISCB. Their correlation of 0.92 suggests significant overlap in exposure. Both charge a 0.04% expense ratio.

Performance

IMCB vs. ISCB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Morningstar Mid-Cap ETF (IMCB) and iShares Morningstar Small-Cap ETF (ISCB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IMCB achieves a 14.72% return, which is significantly higher than ISCB's 11.43% return. Over the past 10 years, IMCB has outperformed ISCB with an annualized return of 11.32%, while ISCB has yielded a comparatively lower 9.30% annualized return.

IMCB

• 1D: -0.24%
• 1M: 5.22%
• YTD: 14.72%
• 6M: 14.61%
• 1Y: 23.24%
• 3Y*: 17.84%
• 5Y*: 8.81%
• 10Y*: 11.32%

ISCB

• 1D: -0.67%
• 1M: 2.77%
• YTD: 11.43%
• 6M: 11.42%
• 1Y: 29.48%
• 3Y*: 16.41%
• 5Y*: 5.72%
• 10Y*: 9.30%

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

IMCB vs. ISCB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IMCB iShares Morningstar Mid-Cap ETF	14.72%	10.25%	15.10%	16.37%	-16.09%	22.81%	13.35%	31.49%	-11.53%	19.70%
ISCB iShares Morningstar Small-Cap ETF	11.43%	12.46%	10.90%	19.51%	-19.04%	17.46%	6.29%	29.42%	-13.92%	12.95%

Correlation

The correlation between IMCB and ISCB is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jul 6, 2004	0.92

The correlation between IMCB and ISCB has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

IMCB vs. ISCB - Sectors Allocation Comparison

Sectors	IMCB	ISCB
Technology	21.3%	14.6%
Industrials	19.0%	18.5%
Financial Services	12.0%	15.9%
Consumer Cyclical	9.0%	11.8%
Healthcare	7.9%	13.3%
Energy	7.4%	4.9%
Utilities	6.2%	2.3%
Basic Materials	5.3%	4.6%
Consumer Defensive	5.1%	3.4%
Real Estate	4.3%	8.2%
Communication Services	2.3%	2.6%

Return for Risk

IMCB vs. ISCB — Risk / Return Rank

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

IMCB

IMCB Risk / Return Rank: 56
IMCB Sharpe Ratio Rank: 53
IMCB Sortino Ratio Rank: 53
IMCB Omega Ratio Rank: 51
IMCB Calmar Ratio Rank: 58
IMCB Martin Ratio Rank: 63

ISCB

ISCB Risk / Return Rank: 56
ISCB Sharpe Ratio Rank: 52
ISCB Sortino Ratio Rank: 53
ISCB Omega Ratio Rank: 49
ISCB Calmar Ratio Rank: 63
ISCB Martin Ratio Rank: 62

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.

IMCB vs. ISCB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Mid-Cap ETF (IMCB) and iShares Morningstar Small-Cap ETF (ISCB). 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.

	IMCB	ISCB	Difference
Sharpe ratio: Return per unit of total volatility	1.83	1.80	+0.03
Sortino ratio: Return per unit of downside risk	2.61	2.60	+0.01
Omega ratio: Gain probability vs. loss probability	1.32	1.31	+0.01
Calmar ratio: Return relative to maximum drawdown	2.90	3.15	-0.25
Martin ratio: Return relative to average drawdown	11.50	11.26	+0.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IMCB vs. ISCB - Sharpe Ratio Comparison

The current IMCB Sharpe Ratio is 1.83, which is comparable to the ISCB Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of IMCB and ISCB, 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

	IMCB	ISCB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.83	1.80	+0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.27	+0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	0.41	+0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.38	+0.13

Drawdowns

IMCB vs. ISCB - Drawdown Comparison

The maximum IMCB drawdown since its inception was -58.80%, roughly equal to the maximum ISCB drawdown of -61.25%. Use the drawdown chart below to compare losses from any high point for IMCB and ISCB.

Drawdown Indicators

	IMCB	ISCB	Difference
Max Drawdown Largest peak-to-trough decline	-58.80%	-61.25%	+2.45%
Max Drawdown (1Y) Largest decline over 1 year	-8.05%	-9.39%	+1.34%
Max Drawdown (3Y) Largest decline over 3 years	-19.80%	-26.22%	+6.42%
Max Drawdown (5Y) Largest decline over 5 years	-25.15%	-29.94%	+4.79%
Max Drawdown (10Y) Largest decline over 10 years	-40.99%	-44.18%	+3.19%
Current Drawdown Current decline from peak	-0.24%	-0.67%	+0.43%
Average Drawdown Average peak-to-trough decline	-7.73%	-9.80%	+2.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.03%	2.63%	-0.60%

Volatility

IMCB vs. ISCB - Volatility Comparison

The current volatility for iShares Morningstar Mid-Cap ETF (IMCB) is 3.31%, while iShares Morningstar Small-Cap ETF (ISCB) has a volatility of 4.28%. This indicates that IMCB experiences smaller price fluctuations and is considered to be less risky than ISCB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMCB	ISCB	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.31%	4.28%	-0.97%
Volatility (6M) Calculated over the trailing 6-month period	9.58%	11.43%	-1.85%
Volatility (1Y) Calculated over the trailing 1-year period	12.75%	16.51%	-3.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.57%	21.39%	-3.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.65%	22.68%	-3.03%

IMCB vs. ISCB - Expense Ratio Comparison

Both IMCB and ISCB have an expense ratio of 0.04%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

IMCB vs. ISCB - Dividend Comparison

IMCB's dividend yield for the trailing twelve months is around 1.21%, less than ISCB's 1.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IMCB iShares Morningstar Mid-Cap ETF	1.21%	1.42%	1.43%	1.55%	1.70%	1.08%	1.12%	1.32%	1.80%	1.31%	1.79%	1.47%
ISCB iShares Morningstar Small-Cap ETF	1.27%	1.38%	1.31%	1.49%	1.63%	1.26%	1.26%	1.25%	1.60%	1.24%	1.58%	1.40%

Frequently Asked Questions

Can I hold both IMCB and ISCB in my portfolio?

With a correlation of 0.93, IMCB and ISCB 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, IMCB or ISCB?

ISCB has higher volatility (4.28%) compared to IMCB (3.31%). In terms of maximum drawdown, IMCB dropped -58.80% vs ISCB's -61.25%.

Which ETF is better, IMCB or ISCB?

On 10-year performance, IMCB leads with 11.32% vs 9.30% for ISCB. Both ETFs have the same 0.04% expense ratio. On volatility, IMCB has been the lower-risk option at 3.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IMCB or ISCB?

Over the 10-year period, IMCB has performed better with a 11.32% return vs 9.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IMCB or ISCB?

IMCB and ISCB have the same expense ratio: 0.04% per year.

Which ETF pays a higher dividend yield, IMCB or ISCB?

ISCB has the higher dividend yield at 1.27%, compared with 1.21% for IMCB.

What is the main difference between IMCB and ISCB?

IMCB is categorized as Mid Cap Blend Equities, while ISCB is Small Cap Blend Equities. IMCB tracks IMCB-US - Morningstar U.S. Mid Cap Index, while ISCB tracks Morningstar US Small Cap Extended Index.

Which has better risk-adjusted returns?

IMCB currently has the higher Sharpe Ratio (1.83 vs 1.80), 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.