IMCB vs. VBK

Last updated Jun 14, 2026

IMCB (iShares Morningstar Mid-Cap ETF) and VBK (Vanguard Small-Cap Growth 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 VBK is a Small Cap Growth Equities fund tracking the CRSP US Small Cap Growth Index. Both are passively managed. Over the past 10 years, IMCB returned 11.53%/yr vs 11.82%/yr for VBK. Their correlation of 0.91 suggests significant overlap in exposure. IMCB charges 0.04%/yr vs 0.05%/yr for VBK.

Performance

IMCB vs. VBK - Performance Comparison

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

Returns By Period

In the year-to-date period, IMCB achieves a 15.22% return, which is significantly lower than VBK's 16.25% return. Both investments have delivered pretty close results over the past 10 years, with IMCB having a 11.53% annualized return and VBK not far ahead at 11.82%.

IMCB

• 1D: 1.00%
• 1M: 5.50%
• YTD: 15.22%
• 6M: 14.34%
• 1Y: 24.76%
• 3Y*: 16.91%
• 5Y*: 8.79%
• 10Y*: 11.53%

VBK

• 1D: 0.33%
• 1M: 3.93%
• YTD: 16.25%
• 6M: 14.67%
• 1Y: 31.85%
• 3Y*: 16.10%
• 5Y*: 4.87%
• 10Y*: 11.82%

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

IMCB vs. VBK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IMCB iShares Morningstar Mid-Cap ETF	15.22%	10.25%	15.10%	16.37%	-16.09%	22.81%	13.35%	31.49%	-11.53%	19.70%
VBK Vanguard Small-Cap Growth ETF	16.25%	8.50%	16.50%	21.45%	-28.44%	5.66%	35.44%	32.75%	-5.70%	21.87%

Correlation

The correlation between IMCB and VBK is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jul 2, 2004	0.91

The correlation between IMCB and VBK has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.

IMCB vs. VBK - Sectors Allocation Comparison

Sectors	IMCB	VBK
Technology	22.6%	25.9%
Industrials	18.5%	24.7%
Financial Services	11.9%	5.6%
Consumer Cyclical	9.1%	9.6%
Healthcare	7.9%	15.3%
Energy	6.7%	4.8%
Utilities	6.0%	1.2%
Basic Materials	5.3%	3.2%
Consumer Defensive	5.1%	2.4%
Real Estate	4.3%	3.9%
Communication Services	2.5%	3.5%

Return for Risk

IMCB vs. VBK — Risk / Return Rank

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

IMCB

IMCB Risk / Return Rank: 63
IMCB Sharpe Ratio Rank: 61
IMCB Sortino Ratio Rank: 61
IMCB Omega Ratio Rank: 58
IMCB Calmar Ratio Rank: 66
IMCB Martin Ratio Rank: 70

VBK

VBK Risk / Return Rank: 53
VBK Sharpe Ratio Rank: 49
VBK Sortino Ratio Rank: 47
VBK Omega Ratio Rank: 45
VBK Calmar Ratio Rank: 61
VBK 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. VBK - Risk-Adjusted Trends Comparison

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

	IMCB	VBK	Difference
Sharpe ratio: Return per unit of total volatility	1.77	1.50	+0.27
Sortino ratio: Return per unit of downside risk	2.50	2.09	+0.41
Omega ratio: Gain probability vs. loss probability	1.31	1.26	+0.05
Calmar ratio: Return relative to maximum drawdown	2.92	2.62	+0.30
Martin ratio: Return relative to average drawdown	11.45	9.82	+1.63

IMCB vs. VBK - Sharpe Ratio Comparison

The current IMCB Sharpe Ratio is 1.77, which is comparable to the VBK Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of IMCB and VBK, 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

IMCB vs. VBK - Drawdown Comparison

The maximum IMCB drawdown since its inception was -58.80%, roughly equal to the maximum VBK drawdown of -58.68%. Use the drawdown chart below to compare losses from any high point for IMCB and VBK.

Drawdown Indicators

	IMCB	VBK	Difference
Max Drawdown Largest peak-to-trough decline	-58.80%	-58.68%	-0.12%
Max Drawdown (1Y) Largest decline over 1 year	-8.05%	-11.44%	+3.39%
Max Drawdown (3Y) Largest decline over 3 years	-19.80%	-27.54%	+7.74%
Max Drawdown (5Y) Largest decline over 5 years	-25.15%	-38.39%	+13.24%
Max Drawdown (10Y) Largest decline over 10 years	-40.99%	-38.70%	-2.29%
Current Drawdown Current decline from peak	-0.26%	-2.04%	+1.78%
Average Drawdown Average peak-to-trough decline	-7.72%	-10.14%	+2.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.05%	3.05%	-1.00%

Volatility

IMCB vs. VBK - Volatility Comparison

The current volatility for iShares Morningstar Mid-Cap ETF (IMCB) is 4.70%, while Vanguard Small-Cap Growth ETF (VBK) has a volatility of 7.31%. This indicates that IMCB experiences smaller price fluctuations and is considered to be less risky than VBK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMCB	VBK	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.70%	7.31%	-2.61%
Volatility (6M) Calculated over the trailing 6-month period	10.18%	15.61%	-5.43%
Volatility (1Y) Calculated over the trailing 1-year period	13.25%	19.96%	-6.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.64%	23.59%	-5.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.67%	22.92%	-3.25%

IMCB vs. VBK - Expense Ratio Comparison

IMCB has a 0.04% expense ratio, which is lower than VBK's 0.05% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IMCB vs. VBK - Dividend Comparison

IMCB's dividend yield for the trailing twelve months is around 1.21%, more than VBK's 0.45% 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%
VBK Vanguard Small-Cap Growth ETF	0.45%	0.54%	0.54%	0.68%	0.55%	0.36%	0.44%	0.57%	0.79%	0.82%	1.08%	0.98%

Frequently Asked Questions

Can I hold both IMCB and VBK in my portfolio?

IMCB and VBK have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IMCB or VBK?

VBK has higher volatility (7.31%) compared to IMCB (4.70%). In terms of maximum drawdown, IMCB dropped -58.80% vs VBK's -58.68%.

Which ETF is better, IMCB or VBK?

On 10-year performance, VBK leads with 11.82% vs 11.53% for IMCB. On fees, IMCB is cheaper at 0.04% per year. On volatility, IMCB has been the lower-risk option at 4.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IMCB or VBK?

Over the 10-year period, VBK has performed better with a 11.82% return vs 11.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IMCB or VBK?

IMCB is cheaper with a 0.04% expense ratio, compared with 0.05% for VBK.

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

IMCB has the higher dividend yield at 1.21%, compared with 0.45% for VBK.

What is the main difference between IMCB and VBK?

IMCB is categorized as Mid Cap Blend Equities, while VBK is Small Cap Growth Equities. IMCB tracks IMCB-US - Morningstar U.S. Mid Cap Index, while VBK tracks CRSP US Small Cap Growth Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.04% for IMCB and 0.05% for VBK.

Which has better risk-adjusted returns?

IMCB currently has the higher Sharpe Ratio (1.77 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.