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ISCB vs. SMMV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ISCB vs. SMMV

Last updated Aug 2, 2026
Documentation

ISCB (iShares Morningstar Small-Cap ETF) and SMMV (iShares MSCI USA Small-Cap Min Vol Factor ETF) are both Small Cap Blend Equities funds from iShares - ISCB tracks the Morningstar US Small Cap Extended Index while SMMV tracks the MSCI USA Small Cap Minimum Volatility (USD) Index. Both are passively managed. Over the past 5 years, ISCB returned 7.13%/yr vs 6.29%/yr for SMMV. Their correlation of 0.84 means they have usually moved in the same direction. ISCB charges 0.04%/yr vs 0.20%/yr for SMMV.

Performance

ISCB vs. SMMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Morningstar Small-Cap ETF (ISCB) and iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV). 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 14.99% return, which is significantly higher than SMMV's 9.33% return.

ISCB

1D
-0.18%
1M
-0.92%
6M
10.53%
YTD
14.99%
1Y
29.06%
3Y*
14.03%
5Y*
7.13%
10Y*
9.25%
ALL TIME*
8.89%

SMMV

1D
-0.06%
1M
0.56%
6M
7.36%
YTD
9.33%
1Y
16.10%
3Y*
12.24%
5Y*
6.29%
10Y*
—
ALL TIME*
8.71%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

ISCB

iShares Morningstar Small-Cap ETF
$562.81K$433.76K$308.14K

SMMV

iShares MSCI USA Small-Cap Min Vol Factor ETF
$337.38K$347.17K$431.55K

ISCB vs. SMMV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ISCB
iShares Morningstar Small-Cap ETF		14.99%12.46%10.90%19.51%-19.04%17.46%6.29%29.42%-13.92%12.95%
SMMV
iShares MSCI USA Small-Cap Min Vol Factor ETF		9.33%6.42%18.29%5.63%-10.00%16.64%-2.88%24.21%1.15%14.31%

Correlation

The correlation between ISCB and SMMV is 0.69, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.69

Correlation (3Y)
Balances recent behavior with more history.

0.83

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.86

Correlation (All Time)
Calculated using the full available price history since Sep 9, 2016

0.84

The correlation between ISCB and SMMV shifts across timeframes, from 0.69 (1 year) to 0.86 (5 years), reflecting how their relationship changes across market environments.

ISCB vs. SMMV - Sectors Allocation Comparison

Sectors
ISCB
SMMV

Financial Services

16.6%
9.2%

Industrials

16.3%
13.6%

Technology

15.0%
13.7%

Healthcare

14.9%
18.7%

Consumer Cyclical

11.1%
5.3%

Real Estate

8.3%
12.5%

Basic Materials

4.5%
1.6%

Energy

4.2%
5.2%

Consumer Defensive

3.8%
7.6%

Communication Services

2.6%
5.1%

Utilities

2.5%
7.5%

Financial Services

ISCB
16.6%
SMMV
9.2%

Industrials

ISCB
16.3%
SMMV
13.6%

Technology

ISCB
15.0%
SMMV
13.7%

Healthcare

ISCB
14.9%
SMMV
18.7%

Consumer Cyclical

ISCB
11.1%
SMMV
5.3%

Real Estate

ISCB
8.3%
SMMV
12.5%

Basic Materials

ISCB
4.5%
SMMV
1.6%

Energy

ISCB
4.2%
SMMV
5.2%

Consumer Defensive

ISCB
3.8%
SMMV
7.6%

Communication Services

ISCB
2.6%
SMMV
5.1%

Utilities

ISCB
2.5%
SMMV
7.5%

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 MSCI USA Small-Cap Min Vol Factor ETF

Often compared with ISCB:
ISCB vs. VBISCB vs. ISCGISCB vs. IJRISCB vs. SPSMISCB vs. IWMISCB vs. IMCBISCB vs. SCHA
Often compared with SMMV:
SMMV vs. SMLFSMMV vs. SMLVSMMV vs. USMVSMMV vs. XMU.TOSMMV vs. VBSMMV vs. IWMSMMV vs. IVV

Return for Risk

ISCB vs. SMMV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
ISCB
ISCB Risk / Return Rank: 7575
Overall Rank
ISCB Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
ISCB Sortino Ratio Rank: 7575
Sortino Ratio Rank
ISCB Omega Ratio Rank: 6868
Omega Ratio Rank
ISCB Calmar Ratio Rank: 8080
Calmar Ratio Rank
ISCB Martin Ratio Rank: 8080
Martin Ratio Rank
SMMV
SMMV Risk / Return Rank: 6666
Overall Rank
SMMV Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
SMMV Sortino Ratio Rank: 7575
Sortino Ratio Rank
SMMV Omega Ratio Rank: 6868
Omega Ratio Rank
SMMV Calmar Ratio Rank: 6363
Calmar Ratio Rank
SMMV Martin Ratio Rank: 5656
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ISCB vs. SMMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Small-Cap ETF (ISCB) and iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV). 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.

ISCBSMMVDifference
Sharpe ratioReturn per unit of total volatility
1.65
1.58

+0.07

Sortino ratioReturn per unit of downside risk
2.41
2.42

-0.01

Omega ratioGain probability vs. loss probability

1.29

1.28

0.00

Calmar ratioReturn relative to maximum drawdown

2.88

2.19

+0.69

Martin ratioReturn relative to average drawdown

10.43

6.75

+3.68

ISCB vs. SMMV - Sharpe Ratio Comparison

The current ISCB Sharpe Ratio is 1.65, which is comparable to the SMMV Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of ISCB and SMMV, 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. SMMV - Drawdown Comparison

The maximum ISCB drawdown since its inception was -61.25%, which is greater than SMMV's maximum drawdown of -38.77%. Use the drawdown chart below to compare losses from any high point for ISCB and SMMV.

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Drawdown Indicators

ISCBSMMVDifference

Max Drawdown

Largest peak-to-trough decline

-61.25%

-38.77%

-22.48%

Max Drawdown (1Y)

Largest decline over 1 year

-9.39%

-7.02%

-2.37%

Max Drawdown (3Y)

Largest decline over 3 years

-26.22%

-13.68%

-12.54%

Max Drawdown (5Y)

Largest decline over 5 years

-29.94%

-18.00%

-11.94%

Max Drawdown (10Y)

Largest decline over 10 years

-44.18%

—

—

Current Drawdown

Current decline from peak

-1.57%

-1.07%

-0.50%

Average Drawdown

Average peak-to-trough decline

-9.74%

-5.04%

-4.70%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.59%

2.28%

+0.31%

Volatility

ISCB vs. SMMV - Volatility Comparison

iShares Morningstar Small-Cap ETF (ISCB) has a higher volatility of 3.32% compared to iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV) at 2.85%. This indicates that ISCB's price experiences larger fluctuations and is considered to be riskier than SMMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ISCBSMMVDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.32%

2.85%

+0.47%

Volatility (6M)

Calculated over the trailing 6-month period

11.48%

6.98%

+4.50%

Volatility (1Y)

Calculated over the trailing 1-year period

16.46%

9.75%

+6.71%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.27%

13.44%

+7.83%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.61%

15.62%

+6.99%

ISCB vs. SMMV - Expense Ratio Comparison

ISCB has a 0.04% expense ratio, which is lower than SMMV's 0.20% 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. SMMV - Dividend Comparison

ISCB's dividend yield for the trailing twelve months is around 1.28%, less than SMMV's 1.66% yield.

PositionTTM20252024202320222021202020192018201720162015
ISCB
iShares Morningstar Small-Cap ETF		1.28%1.38%1.31%1.49%1.63%1.26%1.26%1.25%1.60%1.24%1.58%1.40%
SMMV
iShares MSCI USA Small-Cap Min Vol Factor ETF		1.66%1.77%1.76%2.30%1.67%1.08%1.39%1.64%1.72%1.63%0.79%0.00%

Frequently Asked Questions

ISCB and SMMV have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

ISCB has higher volatility (3.32%) compared to SMMV (2.85%). In terms of maximum drawdown, ISCB dropped -61.25% vs SMMV's -38.77%.

On 5-year performance, ISCB leads with 7.13% vs 6.29% for SMMV. On fees, ISCB is cheaper at 0.04% per year. On volatility, SMMV has been the lower-risk option at 2.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, ISCB has performed better with a 7.13% return vs 6.29%. 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 0.20% for SMMV.

SMMV has the higher dividend yield at 1.66%, compared with 1.28% for ISCB.

ISCB tracks Morningstar US Small Cap Extended Index, while SMMV tracks MSCI USA Small Cap Minimum Volatility (USD) Index. Their fees differ too: 0.04% for ISCB and 0.20% for SMMV.

ISCB currently has the higher Sharpe Ratio (1.65 vs 1.58), 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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