ISCG vs. IMCG

Last updated Jun 4, 2026

ISCG (iShares Morningstar Small-Cap Growth ETF) and IMCG (iShares Morningstar Mid-Cap Growth ETF) are both exchange-traded funds - ISCG is a Small Cap Growth Equities fund tracking the Morningstar US Small Cap Broad Growth Extended Index, while IMCG is a Mid Cap Growth Equities fund tracking the Morningstar US Mid Cap Broad Growth Index. Both are passively managed. Over the past 10 years, ISCG returned 11.37%/yr vs 14.46%/yr for IMCG. Their correlation of 0.91 suggests significant overlap in exposure. Both charge a 0.06% expense ratio.

Performance

ISCG vs. IMCG - Performance Comparison

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

Returns By Period

In the year-to-date period, ISCG achieves a 12.92% return, which is significantly lower than IMCG's 20.05% return. Over the past 10 years, ISCG has underperformed IMCG with an annualized return of 11.37%, while IMCG has yielded a comparatively higher 14.46% annualized return.

ISCG

• 1D: -0.93%
• 1M: 3.29%
• YTD: 12.92%
• 6M: 12.57%
• 1Y: 30.64%
• 3Y*: 17.01%
• 5Y*: 5.31%
• 10Y*: 11.37%

IMCG

• 1D: -0.26%
• 1M: 8.33%
• YTD: 20.05%
• 6M: 18.28%
• 1Y: 23.35%
• 3Y*: 18.91%
• 5Y*: 8.62%
• 10Y*: 14.46%

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

ISCG vs. IMCG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ISCG iShares Morningstar Small-Cap Growth ETF	12.92%	12.88%	13.35%	23.13%	-26.75%	-1.26%	43.41%	27.66%	-6.91%	24.68%
IMCG iShares Morningstar Mid-Cap Growth ETF	20.05%	6.55%	18.14%	20.73%	-25.79%	15.39%	45.64%	35.70%	-3.68%	25.57%

Correlation

The correlation between ISCG and IMCG is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Jul 8, 2004	0.91

The correlation between ISCG and IMCG has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.

ISCG vs. IMCG - Sectors Allocation Comparison

Sectors	ISCG	IMCG
Industrials	24.6%	26.6%
Technology	21.4%	30.4%
Healthcare	15.4%	7.4%
Financial Services	10.6%	9.1%
Consumer Cyclical	9.9%	10.0%
Real Estate	5.2%	3.4%
Basic Materials	3.5%	4.5%
Consumer Defensive	2.9%	1.2%
Communication Services	2.8%	2.6%
Energy	2.8%	2.1%
Utilities	1.0%	2.7%

Return for Risk

ISCG vs. IMCG — Risk / Return Rank

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

ISCG

ISCG Risk / Return Rank: 50
ISCG Sharpe Ratio Rank: 48
ISCG Sortino Ratio Rank: 48
ISCG Omega Ratio Rank: 44
ISCG Calmar Ratio Rank: 53
ISCG Martin Ratio Rank: 58

IMCG

IMCG Risk / Return Rank: 44
IMCG Sharpe Ratio Rank: 42
IMCG Sortino Ratio Rank: 42
IMCG Omega Ratio Rank: 40
IMCG Calmar Ratio Rank: 46
IMCG 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.

ISCG vs. IMCG - Risk-Adjusted Trends Comparison

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

	ISCG	IMCG	Difference
Sharpe ratio: Return per unit of total volatility	1.70	1.51	+0.19
Sortino ratio: Return per unit of downside risk	2.40	2.18	+0.22
Omega ratio: Gain probability vs. loss probability	1.29	1.26	+0.03
Calmar ratio: Return relative to maximum drawdown	2.69	2.31	+0.39
Martin ratio: Return relative to average drawdown	10.31	8.97	+1.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ISCG vs. IMCG - Sharpe Ratio Comparison

The current ISCG Sharpe Ratio is 1.70, which is comparable to the IMCG Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of ISCG and IMCG, 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

	ISCG	IMCG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.70	1.51	+0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	0.43	-0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.71	-0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.54	-0.13

Drawdowns

ISCG vs. IMCG - Drawdown Comparison

The maximum ISCG drawdown since its inception was -57.72%, roughly equal to the maximum IMCG drawdown of -58.96%. Use the drawdown chart below to compare losses from any high point for ISCG and IMCG.

Drawdown Indicators

	ISCG	IMCG	Difference
Max Drawdown Largest peak-to-trough decline	-57.72%	-58.96%	+1.24%
Max Drawdown (1Y) Largest decline over 1 year	-11.43%	-10.17%	-1.26%
Max Drawdown (3Y) Largest decline over 3 years	-26.71%	-21.92%	-4.79%
Max Drawdown (5Y) Largest decline over 5 years	-37.80%	-35.08%	-2.72%
Max Drawdown (10Y) Largest decline over 10 years	-41.48%	-35.08%	-6.40%
Current Drawdown Current decline from peak	-0.93%	-0.26%	-0.67%
Average Drawdown Average peak-to-trough decline	-11.63%	-9.22%	-2.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.98%	2.61%	+0.37%

Volatility

ISCG vs. IMCG - Volatility Comparison

iShares Morningstar Small-Cap Growth ETF (ISCG) has a higher volatility of 4.93% compared to iShares Morningstar Mid-Cap Growth ETF (IMCG) at 4.65%. This indicates that ISCG's price experiences larger fluctuations and is considered to be riskier than IMCG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ISCG	IMCG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.93%	4.65%	+0.28%
Volatility (6M) Calculated over the trailing 6-month period	13.09%	12.53%	+0.56%
Volatility (1Y) Calculated over the trailing 1-year period	18.13%	15.53%	+2.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.95%	20.17%	+2.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.16%	20.51%	+2.65%

ISCG vs. IMCG - Expense Ratio Comparison

Both ISCG and IMCG have an expense ratio of 0.06%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

ISCG vs. IMCG - Dividend Comparison

ISCG's dividend yield for the trailing twelve months is around 0.56%, less than IMCG's 0.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IMCG iShares Morningstar Mid-Cap Growth ETF	0.65%	0.78%	0.78%	0.85%	0.91%	0.41%	0.09%	0.30%	0.35%	0.45%	0.52%	0.38%
ISCG iShares Morningstar Small-Cap Growth ETF	0.56%	0.61%	0.84%	0.77%	0.92%	0.62%	0.10%	0.27%	0.40%	0.52%	1.19%	0.64%

Frequently Asked Questions

Can I hold both ISCG and IMCG in my portfolio?

With a correlation of 0.91, ISCG and IMCG 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, ISCG or IMCG?

ISCG has higher volatility (4.93%) compared to IMCG (4.65%). In terms of maximum drawdown, ISCG dropped -57.72% vs IMCG's -58.96%.

Which ETF is better, ISCG or IMCG?

On 10-year performance, IMCG leads with 14.46% vs 11.37% for ISCG. Both ETFs have the same 0.06% expense ratio. On volatility, IMCG has been the lower-risk option at 4.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ISCG or IMCG?

Over the 10-year period, IMCG has performed better with a 14.46% return vs 11.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ISCG or IMCG?

ISCG and IMCG have the same expense ratio: 0.06% per year.

Which ETF pays a higher dividend yield, ISCG or IMCG?

IMCG has the higher dividend yield at 0.65%, compared with 0.56% for ISCG.

What is the main difference between ISCG and IMCG?

ISCG is categorized as Small Cap Growth Equities, while IMCG is Mid Cap Growth Equities. ISCG tracks Morningstar US Small Cap Broad Growth Extended Index, while IMCG tracks Morningstar US Mid Cap Broad Growth Index.

Which has better risk-adjusted returns?

ISCG currently has the higher Sharpe Ratio (1.70 vs 1.51), 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.