ISCB vs. SPSM

Last updated Apr 1, 2026

Compare and contrast key facts about iShares Morningstar Small-Cap ETF (ISCB) and SPDR Portfolio S&P 600 Small Cap ETF (SPSM).

ISCB and SPSM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ISCB is a passively managed fund by iShares that tracks the performance of the Morningstar US Small Cap Extended Index. It was launched on Jun 28, 2004. SPSM is a passively managed fund by State Street that tracks the performance of the S&P SmallCap 600 Index. It was launched on Jul 8, 2013. Both ISCB and SPSM are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

ISCB vs. SPSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Morningstar Small-Cap ETF (ISCB) and SPDR Portfolio S&P 600 Small Cap ETF (SPSM). The values are adjusted to include any dividend payments, if applicable.

ISCB vs. SPSM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ISCB iShares Morningstar Small-Cap ETF	0.40%	12.46%	10.90%	19.51%	-19.04%	17.46%	6.29%	29.42%	-13.92%	12.95%
SPSM SPDR Portfolio S&P 600 Small Cap ETF	3.48%	6.11%	8.55%	16.11%	-16.12%	26.67%	11.69%	25.85%	-11.17%	15.44%

Returns By Period

In the year-to-date period, ISCB achieves a 0.40% return, which is significantly lower than SPSM's 3.48% return. Over the past 10 years, ISCB has underperformed SPSM with an annualized return of 8.52%, while SPSM has yielded a comparatively higher 10.05% annualized return.

ISCB

• 1D: 2.94%
• 1M: -5.35%
• YTD: 0.40%
• 6M: 3.40%
• 1Y: 21.91%
• 3Y*: 12.76%
• 5Y*: 4.17%
• 10Y*: 8.52%

SPSM

• 1D: 2.81%
• 1M: -4.07%
• YTD: 3.48%
• 6M: 5.20%
• 1Y: 20.56%
• 3Y*: 10.51%
• 5Y*: 4.16%
• 10Y*: 10.05%

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

ISCB vs. SPSM - Expense Ratio Comparison

ISCB has a 0.04% expense ratio, which is lower than SPSM'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%.

SPSM

SPDR Portfolio S&P 600 Small Cap ETF

ISCB

iShares Morningstar Small-Cap ETF

Return for Risk

ISCB vs. SPSM — Risk / Return Rank

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

ISCB

ISCB Risk / Return Rank: 60
ISCB Sharpe Ratio Rank: 57
ISCB Sortino Ratio Rank: 61
ISCB Omega Ratio Rank: 57
ISCB Calmar Ratio Rank: 61
ISCB Martin Ratio Rank: 66

SPSM

SPSM Risk / Return Rank: 58
SPSM Sharpe Ratio Rank: 55
SPSM Sortino Ratio Rank: 58
SPSM Omega Ratio Rank: 53
SPSM Calmar Ratio Rank: 61
SPSM 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.

ISCB vs. SPSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Small-Cap ETF (ISCB) and SPDR Portfolio S&P 600 Small Cap ETF (SPSM). 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.

	ISCB	SPSM	Difference
Sharpe ratio Return per unit of total volatility	0.99	0.92	+0.07
Sortino ratio Return per unit of downside risk	1.52	1.41	+0.11
Omega ratio Gain probability vs. loss probability	1.20	1.19	+0.02
Calmar ratio Return relative to maximum drawdown	1.47	1.42	+0.05
Martin ratio Return relative to average drawdown	6.36	5.73	+0.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ISCB vs. SPSM - Sharpe Ratio Comparison

The current ISCB Sharpe Ratio is 0.99, which is comparable to the SPSM Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of ISCB and SPSM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ISCB	SPSM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.99	0.92	+0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.20	0.19	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.38	0.44	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.41	-0.05

Correlation

The correlation between ISCB and SPSM is 0.94, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

ISCB vs. SPSM - Dividend Comparison

ISCB's dividend yield for the trailing twelve months is around 1.41%, less than SPSM's 1.59% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ISCB iShares Morningstar Small-Cap ETF	1.41%	1.38%	1.31%	1.49%	1.63%	1.26%	1.26%	1.25%	1.60%	1.24%	1.58%	1.40%
SPSM SPDR Portfolio S&P 600 Small Cap ETF	1.59%	1.62%	1.85%	1.61%	1.38%	1.40%	1.34%	1.58%	1.82%	1.51%	1.49%	2.37%

Drawdowns

ISCB vs. SPSM - Drawdown Comparison

The maximum ISCB drawdown since its inception was -61.25%, which is greater than SPSM's maximum drawdown of -42.89%. Use the drawdown chart below to compare losses from any high point for ISCB and SPSM.

Drawdown Indicators

	ISCB	SPSM	Difference
Max Drawdown Largest peak-to-trough decline	-61.25%	-42.89%	-18.36%
Max Drawdown (1Y) Largest decline over 1 year	-14.68%	-14.82%	+0.14%
Max Drawdown (5Y) Largest decline over 5 years	-29.94%	-27.94%	-2.00%
Max Drawdown (10Y) Largest decline over 10 years	-44.18%	-42.89%	-1.29%
Current Drawdown Current decline from peak	-6.73%	-5.81%	-0.92%
Average Drawdown Average peak-to-trough decline	-9.87%	-8.02%	-1.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.40%	3.67%	-0.27%

Volatility

ISCB vs. SPSM - Volatility Comparison

iShares Morningstar Small-Cap ETF (ISCB) and SPDR Portfolio S&P 600 Small Cap ETF (SPSM) have volatilities of 6.42% and 6.26%, 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	SPSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.42%	6.26%	+0.16%
Volatility (6M) Calculated over the trailing 6-month period	12.66%	12.94%	-0.28%
Volatility (1Y) Calculated over the trailing 1-year period	22.28%	22.56%	-0.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.45%	21.54%	-0.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.67%	22.98%	-0.31%