INVN vs. IJH
INVN (Alger Russell Innovation ETF) and IJH (iShares Core S&P Mid-Cap ETF) are both Mid Cap Blend Equities funds - INVN tracks the Alger Russell Innovation Index while IJH tracks the S&P MidCap 400 Index. Both are passively managed. Over the past year, INVN returned 11.07% vs 25.12% for IJH. A 0.66 correlation means they provide meaningful diversification when combined. INVN charges 0.55%/yr vs 0.05%/yr for IJH.
Performance
INVN vs. IJH - Performance Comparison
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Returns By Period
In the year-to-date period, INVN achieves a -4.42% return, which is significantly lower than IJH's 14.64% return.
INVN
- 1D
- 0.51%
- 1M
- -0.92%
- YTD
- -4.42%
- 6M
- -5.37%
- 1Y
- 11.07%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IJH
- 1D
- -1.01%
- 1M
- 2.70%
- YTD
- 14.64%
- 6M
- 12.56%
- 1Y
- 25.12%
- 3Y*
- 16.11%
- 5Y*
- 8.47%
- 10Y*
- 11.63%
INVN vs. IJH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
INVN Alger Russell Innovation ETF | -4.42% | 6.56% |
IJH iShares Core S&P Mid-Cap ETF | 14.64% | 6.21% |
Correlation
The correlation between INVN and IJH is 0.57, 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 | 0.57 |
Correlation (All Time) Calculated using the full available price history since Jan 7, 2025 | 0.66 |
The correlation between INVN and IJH has been stable across timeframes, ranging from 0.57 to 0.66 - a consistent structural relationship.
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Return for Risk
INVN vs. IJH — Risk / Return Rank
INVN
IJH
INVN vs. IJH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alger Russell Innovation ETF (INVN) and iShares Core S&P Mid-Cap ETF (IJH). 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.
| INVN | IJH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.08 | ||
| Sortino ratioReturn per unit of downside risk | -1.47 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.28 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.55 | 2.86 | -2.31 |
| Martin ratioReturn relative to average drawdown | 1.39 | 10.44 | -9.05 |
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Drawdowns
INVN vs. IJH - Drawdown Comparison
The maximum INVN drawdown since its inception was -26.01%, smaller than the maximum IJH drawdown of -55.07%. Use the drawdown chart below to compare losses from any high point for INVN and IJH.
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Drawdown Indicators
| INVN | IJH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.01% | -55.07% | +29.06% |
Max Drawdown (1Y)Largest decline over 1 year | -20.39% | -8.83% | -11.56% |
Max Drawdown (3Y)Largest decline over 3 years | — | -24.10% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.10% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.18% | — |
Current DrawdownCurrent decline from peak | -9.82% | -1.13% | -8.69% |
Average DrawdownAverage peak-to-trough decline | -7.68% | -7.55% | -0.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.98% | 2.41% | +5.57% |
Volatility
INVN vs. IJH - Volatility Comparison
Alger Russell Innovation ETF (INVN) has a higher volatility of 9.06% compared to iShares Core S&P Mid-Cap ETF (IJH) at 4.75%. This indicates that INVN's price experiences larger fluctuations and is considered to be riskier than IJH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| INVN | IJH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.06% | 4.75% | +4.31% |
Volatility (6M)Calculated over the trailing 6-month period | 17.99% | 11.75% | +6.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.67% | 15.88% | +5.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.77% | 19.76% | +4.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.77% | 21.17% | +2.60% |
INVN vs. IJH - Expense Ratio Comparison
INVN has a 0.55% expense ratio, which is higher than IJH's 0.05% expense ratio.
Dividends
INVN vs. IJH - Dividend Comparison
INVN's dividend yield for the trailing twelve months is around 0.30%, less than IJH's 1.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IJH iShares Core S&P Mid-Cap ETF | 1.18% | 1.36% | 1.33% | 1.46% | 1.68% | 1.18% | 1.28% | 1.63% | 1.72% | 1.19% | 1.60% | 1.56% |
INVN Alger Russell Innovation ETF | 0.30% | 0.29% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
INVN and IJH have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
INVN has higher volatility (9.06%) compared to IJH (4.75%). In terms of maximum drawdown, INVN dropped -26.01% vs IJH's -55.07%.
On 1-year performance, IJH leads with 25.12% vs 11.07% for INVN. On fees, IJH is cheaper at 0.05% per year. On volatility, IJH has been the lower-risk option at 4.75%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IJH has performed better with a 25.12% return vs 11.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IJH is cheaper with a 0.05% expense ratio, compared with 0.55% for INVN.
IJH has the higher dividend yield at 1.18%, compared with 0.30% for INVN.
INVN tracks Alger Russell Innovation Index, while IJH tracks S&P MidCap 400 Index. They also come from different issuers: Alger and iShares. Their fees differ too: 0.55% for INVN and 0.05% for IJH.
IJH currently has the higher Sharpe Ratio (1.59 vs 0.51), 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.
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