ISCB vs. IMCB

Last updated Jun 23, 2026

ISCB (iShares Morningstar Small-Cap ETF) and IMCB (iShares Morningstar Mid-Cap ETF) are both exchange-traded funds - ISCB is a Small Cap Blend Equities fund tracking the Morningstar US Small Cap Extended Index, while IMCB is a Mid Cap Blend Equities fund tracking the IMCB-US - Morningstar U.S. Mid Cap Index. Both are passively managed. Over the past 10 years, ISCB returned 9.87%/yr vs 11.77%/yr for IMCB. Their correlation of 0.92 suggests significant overlap in exposure. Both charge a 0.04% expense ratio.

Performance

ISCB vs. IMCB - Performance Comparison

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

Returns By Period

In the year-to-date period, ISCB achieves a 13.60% return, which is significantly lower than IMCB's 16.18% return. Over the past 10 years, ISCB has underperformed IMCB with an annualized return of 9.87%, while IMCB has yielded a comparatively higher 11.77% annualized return.

ISCB

• 1D: -0.03%
• 1M: 3.02%
• YTD: 13.60%
• 6M: 10.99%
• 1Y: 31.54%
• 3Y*: 17.18%
• 5Y*: 6.24%
• 10Y*: 9.87%

IMCB

• 1D: 0.42%
• 1M: 4.03%
• YTD: 16.18%
• 6M: 14.62%
• 1Y: 25.14%
• 3Y*: 17.89%
• 5Y*: 9.17%
• 10Y*: 11.77%

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

ISCB vs. IMCB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ISCB iShares Morningstar Small-Cap ETF	13.60%	12.46%	10.90%	19.51%	-19.04%	17.46%	6.29%	29.42%	-13.92%	12.95%
IMCB iShares Morningstar Mid-Cap ETF	16.18%	10.25%	15.10%	16.37%	-16.09%	22.81%	13.35%	31.49%	-11.53%	19.70%

Correlation

The correlation between ISCB and IMCB 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	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jul 2, 2004	0.92

The correlation between ISCB and IMCB has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

ISCB vs. IMCB - Sectors Allocation Comparison

Sectors	ISCB	IMCB
Industrials	18.5%	18.5%
Technology	16.0%	22.6%
Financial Services	15.6%	11.9%
Healthcare	13.5%	7.9%
Consumer Cyclical	11.4%	9.1%
Real Estate	8.1%	4.3%
Basic Materials	4.6%	5.3%
Energy	4.5%	6.7%
Consumer Defensive	3.2%	5.1%
Communication Services	2.6%	2.5%
Utilities	2.2%	6.0%

Return for Risk

ISCB vs. IMCB — Risk / Return Rank

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

ISCB

ISCB Risk / Return Rank: 62
ISCB Sharpe Ratio Rank: 59
ISCB Sortino Ratio Rank: 60
ISCB Omega Ratio Rank: 53
ISCB Calmar Ratio Rank: 70
ISCB Martin Ratio Rank: 68

IMCB

IMCB Risk / Return Rank: 61
IMCB Sharpe Ratio Rank: 59
IMCB Sortino Ratio Rank: 58
IMCB Omega Ratio Rank: 54
IMCB Calmar Ratio Rank: 65
IMCB Martin Ratio Rank: 68

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. IMCB - Risk-Adjusted Trends Comparison

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

	ISCB	IMCB	Difference
Sharpe ratio: Return per unit of total volatility	1.90	1.90	0.00
Sortino ratio: Return per unit of downside risk	2.71	2.66	+0.05
Omega ratio: Gain probability vs. loss probability	1.32	1.33	-0.01
Calmar ratio: Return relative to maximum drawdown	3.37	3.14	+0.24
Martin ratio: Return relative to average drawdown	12.05	12.28	-0.23

ISCB vs. IMCB - Sharpe Ratio Comparison

The current ISCB Sharpe Ratio is 1.90, which is comparable to the IMCB Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of ISCB and IMCB, 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

ISCB vs. IMCB - Drawdown Comparison

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

Drawdown Indicators

	ISCB	IMCB	Difference
Max Drawdown Largest peak-to-trough decline	-61.25%	-58.80%	-2.45%
Max Drawdown (1Y) Largest decline over 1 year	-9.39%	-8.05%	-1.34%
Max Drawdown (3Y) Largest decline over 3 years	-26.22%	-19.80%	-6.42%
Max Drawdown (5Y) Largest decline over 5 years	-29.94%	-25.15%	-4.79%
Max Drawdown (10Y) Largest decline over 10 years	-44.18%	-40.99%	-3.19%
Current Drawdown Current decline from peak	-0.32%	-0.32%	0.00%
Average Drawdown Average peak-to-trough decline	-9.78%	-7.72%	-2.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.62%	2.05%	+0.57%

Volatility

ISCB vs. IMCB - Volatility Comparison

iShares Morningstar Small-Cap ETF (ISCB) and iShares Morningstar Mid-Cap ETF (IMCB) have volatilities of 4.50% and 4.70%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ISCB	IMCB	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.50%	4.70%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	11.73%	10.25%	+1.48%
Volatility (1Y) Calculated over the trailing 1-year period	16.75%	13.32%	+3.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.41%	17.64%	+3.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.70%	19.69%	+3.01%

ISCB vs. IMCB - Expense Ratio Comparison

Both ISCB and IMCB 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

ISCB vs. IMCB - Dividend Comparison

ISCB's dividend yield for the trailing twelve months is around 1.30%, more than IMCB's 1.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IMCB iShares Morningstar Mid-Cap ETF	1.23%	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	1.30%	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

Can I hold both ISCB and IMCB in my portfolio?

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

IMCB has higher volatility (4.70%) compared to ISCB (4.50%). In terms of maximum drawdown, ISCB dropped -61.25% vs IMCB's -58.80%.

Which ETF is better, ISCB or IMCB?

On 10-year performance, IMCB leads with 11.77% vs 9.87% for ISCB. Both ETFs have the same 0.04% expense ratio. On volatility, ISCB has been the lower-risk option at 4.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ISCB or IMCB?

Over the 10-year period, IMCB has performed better with a 11.77% return vs 9.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ISCB or IMCB?

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

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

ISCB has the higher dividend yield at 1.30%, compared with 1.23% for IMCB.

What is the main difference between ISCB and IMCB?

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

Which has better risk-adjusted returns?

IMCB currently has the higher Sharpe Ratio (1.90 vs 1.90), 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.