ISCF vs. ISVL

Last updated Jun 4, 2026

ISCF (iShares MSCI Intl Small-Cap Multifactor ETF) and ISVL (iShares International Developed Small Cap Value Factor ETF) are both exchange-traded funds - ISCF is a Foreign Small & Mid Cap Equities fund tracking the MSCI World exUSA SmallCap Diversified Multi-Factor, while ISVL is a Small Cap Value Equities fund tracking the FTSE Developed ex US ex Korea Small Cap Focused Value Index. Both are passively managed. Over the past 5 years, ISCF returned 7.26%/yr vs 10.07%/yr for ISVL. With a 0.96 correlation, they move nearly in lockstep. ISCF charges 0.40%/yr vs 0.30%/yr for ISVL.

Performance

ISCF vs. ISVL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Intl Small-Cap Multifactor ETF (ISCF) and iShares International Developed Small Cap Value Factor ETF (ISVL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ISCF achieves a 7.28% return, which is significantly lower than ISVL's 8.45% return.

ISCF

• 1D: -1.13%
• 1M: 1.65%
• YTD: 7.28%
• 6M: 10.16%
• 1Y: 21.96%
• 3Y*: 17.40%
• 5Y*: 7.26%
• 10Y*: 9.19%

ISVL

• 1D: -1.11%
• 1M: 2.16%
• YTD: 8.45%
• 6M: 12.58%
• 1Y: 28.37%
• 3Y*: 21.34%
• 5Y*: 10.07%
• 10Y*: —

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

ISCF vs. ISVL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ISCF iShares MSCI Intl Small-Cap Multifactor ETF	7.28%	33.65%	4.75%	11.50%	-15.07%	8.11%
ISVL iShares International Developed Small Cap Value Factor ETF	8.45%	42.84%	4.58%	17.56%	-13.69%	7.69%

Correlation

The correlation between ISCF and ISVL is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Mar 26, 2021	0.96

The correlation between ISCF and ISVL has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

ISCF vs. ISVL - Sectors Allocation Comparison

Sectors	ISCF	ISVL
Industrials	23.3%	23.3%
Consumer Cyclical	12.4%	10.4%
Financial Services	12.3%	20.8%
Basic Materials	11.2%	9.1%
Technology	10.5%	4.7%
Real Estate	8.8%	11.1%
Healthcare	5.4%	3.7%
Energy	4.8%	7.3%
Consumer Defensive	4.1%	5.3%
Communication Services	3.8%	3.0%
Utilities	3.6%	1.5%

Return for Risk

ISCF vs. ISVL — Risk / Return Rank

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

ISCF

ISCF Risk / Return Rank: 42
ISCF Sharpe Ratio Rank: 43
ISCF Sortino Ratio Rank: 43
ISCF Omega Ratio Rank: 42
ISCF Calmar Ratio Rank: 39
ISCF Martin Ratio Rank: 44

ISVL

ISVL Risk / Return Rank: 54
ISVL Sharpe Ratio Rank: 57
ISVL Sortino Ratio Rank: 57
ISVL Omega Ratio Rank: 58
ISVL Calmar Ratio Rank: 46
ISVL Martin Ratio Rank: 52

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.

ISCF vs. ISVL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Intl Small-Cap Multifactor ETF (ISCF) and iShares International Developed Small Cap Value Factor ETF (ISVL). 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.

	ISCF	ISVL	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.98	-0.44
Sortino ratio: Return per unit of downside risk	2.18	2.78	-0.60
Omega ratio: Gain probability vs. loss probability	1.28	1.36	-0.08
Calmar ratio: Return relative to maximum drawdown	1.94	2.28	-0.34
Martin ratio: Return relative to average drawdown	7.28	8.95	-1.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ISCF vs. ISVL - Sharpe Ratio Comparison

The current ISCF Sharpe Ratio is 1.54, which is comparable to the ISVL Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of ISCF and ISVL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ISCF	ISVL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.54	1.98	-0.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.44	0.60	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.70	-0.21

Drawdowns

ISCF vs. ISVL - Drawdown Comparison

The maximum ISCF drawdown since its inception was -40.79%, which is greater than ISVL's maximum drawdown of -30.48%. Use the drawdown chart below to compare losses from any high point for ISCF and ISVL.

Drawdown Indicators

	ISCF	ISVL	Difference
Max Drawdown Largest peak-to-trough decline	-40.79%	-30.48%	-10.31%
Max Drawdown (1Y) Largest decline over 1 year	-11.34%	-12.48%	+1.14%
Max Drawdown (3Y) Largest decline over 3 years	-13.85%	-12.93%	-0.92%
Max Drawdown (5Y) Largest decline over 5 years	-30.70%	-30.48%	-0.22%
Max Drawdown (10Y) Largest decline over 10 years	-40.79%	—	—
Current Drawdown Current decline from peak	-2.64%	-2.16%	-0.48%
Average Drawdown Average peak-to-trough decline	-8.14%	-6.66%	-1.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.02%	3.18%	-0.16%

Volatility

ISCF vs. ISVL - Volatility Comparison

iShares MSCI Intl Small-Cap Multifactor ETF (ISCF) and iShares International Developed Small Cap Value Factor ETF (ISVL) have volatilities of 4.33% and 4.54%, 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

	ISCF	ISVL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.33%	4.54%	-0.21%
Volatility (6M) Calculated over the trailing 6-month period	11.86%	12.01%	-0.15%
Volatility (1Y) Calculated over the trailing 1-year period	14.39%	14.47%	-0.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.66%	16.90%	-0.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.44%	16.78%	+0.66%

ISCF vs. ISVL - Expense Ratio Comparison

ISCF has a 0.40% expense ratio, which is higher than ISVL's 0.30% expense ratio.

Dividends

ISCF vs. ISVL - Dividend Comparison

ISCF's dividend yield for the trailing twelve months is around 3.50%, more than ISVL's 2.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ISCF iShares MSCI Intl Small-Cap Multifactor ETF	3.50%	3.76%	4.29%	3.94%	2.73%	3.93%	2.30%	2.87%	2.14%	1.97%	2.89%	1.46%
ISVL iShares International Developed Small Cap Value Factor ETF	2.48%	2.69%	3.92%	3.82%	3.37%	2.82%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ISCF and ISVL in my portfolio?

With a correlation of 0.94, ISCF and ISVL 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, ISCF or ISVL?

ISVL has higher volatility (4.54%) compared to ISCF (4.33%). In terms of maximum drawdown, ISCF dropped -40.79% vs ISVL's -30.48%.

Which ETF is better, ISCF or ISVL?

On 5-year performance, ISVL leads with 10.07% vs 7.26% for ISCF. On fees, ISVL is cheaper at 0.30% per year. On volatility, ISCF has been the lower-risk option at 4.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ISCF or ISVL?

Over the 5-year period, ISVL has performed better with a 10.07% return vs 7.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ISCF or ISVL?

ISVL is cheaper with a 0.30% expense ratio, compared with 0.40% for ISCF.

Which ETF pays a higher dividend yield, ISCF or ISVL?

ISCF has the higher dividend yield at 3.50%, compared with 2.48% for ISVL.

What is the main difference between ISCF and ISVL?

ISCF is categorized as Foreign Small & Mid Cap Equities, while ISVL is Small Cap Value Equities. ISCF tracks MSCI World exUSA SmallCap Diversified Multi-Factor, while ISVL tracks FTSE Developed ex US ex Korea Small Cap Focused Value Index. Their fees differ too: 0.40% for ISCF and 0.30% for ISVL.

Which has better risk-adjusted returns?

ISVL currently has the higher Sharpe Ratio (1.98 vs 1.54), 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.