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ISCB vs. IJR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ISCB vs. IJR

Last updated Jun 24, 2026

ISCB (iShares Morningstar Small-Cap ETF) and IJR (iShares Core S&P Small-Cap ETF) are both Small Cap Blend Equities funds from iShares - ISCB tracks the Morningstar US Small Cap Extended Index while IJR tracks the S&P SmallCap 600 Index. Both are passively managed. Over the past 10 years, ISCB returned 9.82%/yr vs 11.30%/yr for IJR. With a 0.95 correlation, they move nearly in lockstep. ISCB charges 0.04%/yr vs 0.06%/yr for IJR.

Performance

ISCB vs. IJR - Performance Comparison

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

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Returns By Period

In the year-to-date period, ISCB achieves a 13.15% return, which is significantly lower than IJR's 19.34% return. Over the past 10 years, ISCB has underperformed IJR with an annualized return of 9.82%, while IJR has yielded a comparatively higher 11.30% annualized return.

ISCB

1D
-0.39%
1M
2.62%
YTD
13.15%
6M
11.14%
1Y
29.94%
3Y*
17.02%
5Y*
5.91%
10Y*
9.82%

IJR

1D
-0.34%
1M
4.22%
YTD
19.34%
6M
16.86%
1Y
34.47%
3Y*
16.15%
5Y*
6.29%
10Y*
11.30%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ISCB vs. IJR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ISCB
iShares Morningstar Small-Cap ETF		13.15%12.46%10.90%19.51%-19.04%17.46%6.29%29.42%-13.92%12.95%
IJR
iShares Core S&P Small-Cap ETF		19.34%5.89%8.63%16.06%-16.20%26.58%11.28%22.82%-8.51%13.15%

Correlation

The correlation between ISCB and IJR 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 (10Y)
Calculated over the trailing 10-year period

0.96

Correlation (All Time)
Calculated using the full available price history since Jul 2, 2004

0.95

The correlation between ISCB and IJR has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

ISCB vs. IJR - Sectors Allocation Comparison

Sectors
ISCB
IJR

Industrials

18.5%
16.0%

Technology

16.0%
15.9%

Financial Services

15.6%
16.0%

Healthcare

13.5%
11.0%

Consumer Cyclical

11.4%
12.5%

Real Estate

8.1%
7.5%

Basic Materials

4.6%
4.7%

Energy

4.5%
6.8%

Consumer Defensive

3.2%
3.2%

Communication Services

2.6%
3.2%

Utilities

2.2%
1.9%

Industrials

ISCB
18.5%
IJR
16.0%

Technology

ISCB
16.0%
IJR
15.9%

Financial Services

ISCB
15.6%
IJR
16.0%

Healthcare

ISCB
13.5%
IJR
11.0%

Consumer Cyclical

ISCB
11.4%
IJR
12.5%

Real Estate

ISCB
8.1%
IJR
7.5%

Basic Materials

ISCB
4.6%
IJR
4.7%

Energy

ISCB
4.5%
IJR
6.8%

Consumer Defensive

ISCB
3.2%
IJR
3.2%

Communication Services

ISCB
2.6%
IJR
3.2%

Utilities

ISCB
2.2%
IJR
1.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Morningstar Small-Cap ETF

iShares Core S&P Small-Cap ETF

Often compared with ISCB:
ISCB vs. VBISCB vs. ISCGISCB vs. SPSMISCB vs. IMCBISCB vs. IWMISCB vs. SCHAISCB vs. SCHG
Often compared with IJR:
IJR vs. IWMIJR vs. VBIJR vs. AVUVIJR vs. IJHIJR vs. IJSIJR vs. SCHAIJR vs. VBR

Return for Risk

ISCB vs. IJR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ISCB
ISCB Risk / Return Rank: 6060
Overall Rank
ISCB Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
ISCB Sortino Ratio Rank: 5858
Sortino Ratio Rank
ISCB Omega Ratio Rank: 5252
Omega Ratio Rank
ISCB Calmar Ratio Rank: 6868
Calmar Ratio Rank
ISCB Martin Ratio Rank: 6767
Martin Ratio Rank
IJR
IJR Risk / Return Rank: 6767
Overall Rank
IJR Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
IJR Sortino Ratio Rank: 6363
Sortino Ratio Rank
IJR Omega Ratio Rank: 5656
Omega Ratio Rank
IJR Calmar Ratio Rank: 7979
Calmar Ratio Rank
IJR Martin Ratio Rank: 7474
Martin Ratio Rank
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.

ISCB vs. IJR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Small-Cap ETF (ISCB) and iShares Core S&P Small-Cap ETF (IJR). 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.

ISCBIJRDifference
Sharpe ratioReturn per unit of total volatility
1.80
1.96

-0.16

Sortino ratioReturn per unit of downside risk
2.59
2.84

-0.24

Omega ratioGain probability vs. loss probability

1.31

1.34

-0.03

Calmar ratioReturn relative to maximum drawdown

3.20

3.99

-0.79

Martin ratioReturn relative to average drawdown

11.44

13.39

-1.95

ISCB vs. IJR - Sharpe Ratio Comparison

The current ISCB Sharpe Ratio is 1.80, which is comparable to the IJR Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of ISCB and IJR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

ISCB vs. IJR - Drawdown Comparison

The maximum ISCB drawdown since its inception was -61.25%, which is greater than IJR's maximum drawdown of -58.15%. Use the drawdown chart below to compare losses from any high point for ISCB and IJR.

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Drawdown Indicators

ISCBIJRDifference

Max Drawdown

Largest peak-to-trough decline

-61.25%

-58.15%

-3.10%

Max Drawdown (1Y)

Largest decline over 1 year

-9.39%

-8.68%

-0.71%

Max Drawdown (3Y)

Largest decline over 3 years

-26.22%

-28.02%

+1.80%

Max Drawdown (5Y)

Largest decline over 5 years

-29.94%

-28.02%

-1.92%

Max Drawdown (10Y)

Largest decline over 10 years

-44.18%

-44.36%

+0.18%

Current Drawdown

Current decline from peak

-0.71%

-0.43%

-0.28%

Average Drawdown

Average peak-to-trough decline

-9.78%

-9.26%

-0.52%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.62%

2.58%

+0.04%

Volatility

ISCB vs. IJR - Volatility Comparison

The current volatility for iShares Morningstar Small-Cap ETF (ISCB) is 4.52%, while iShares Core S&P Small-Cap ETF (IJR) has a volatility of 4.96%. This indicates that ISCB experiences smaller price fluctuations and is considered to be less risky than IJR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ISCBIJRDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.52%

4.96%

-0.44%

Volatility (6M)

Calculated over the trailing 6-month period

11.72%

12.06%

-0.34%

Volatility (1Y)

Calculated over the trailing 1-year period

16.73%

17.73%

-1.00%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.41%

21.40%

+0.01%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.67%

22.90%

-0.23%

ISCB vs. IJR - Expense Ratio Comparison

ISCB has a 0.04% expense ratio, which is lower than IJR's 0.06% 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

ISCB vs. IJR - Dividend Comparison

ISCB's dividend yield for the trailing twelve months is around 1.30%, more than IJR's 1.15% yield.

PositionTTM20252024202320222021202020192018201720162015
IJR
iShares Core S&P Small-Cap ETF		1.15%1.44%2.05%1.31%1.41%1.53%1.11%1.44%1.58%1.20%1.22%1.48%
ISCB
iShares Morningstar Small-Cap ETF		1.30%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

With a correlation of 0.96, ISCB and IJR 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.

IJR has higher volatility (4.96%) compared to ISCB (4.52%). In terms of maximum drawdown, ISCB dropped -61.25% vs IJR's -58.15%.

On 10-year performance, IJR leads with 11.30% vs 9.82% for ISCB. On fees, ISCB is cheaper at 0.04% per year. On volatility, ISCB has been the lower-risk option at 4.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IJR has performed better with a 11.30% return vs 9.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

ISCB is cheaper with a 0.04% expense ratio, compared with 0.06% for IJR.

ISCB has the higher dividend yield at 1.30%, compared with 1.15% for IJR.

ISCB tracks Morningstar US Small Cap Extended Index, while IJR tracks S&P SmallCap 600 Index. Their fees differ too: 0.04% for ISCB and 0.06% for IJR.

IJR currently has the higher Sharpe Ratio (1.96 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.

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