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ISO.AX vs. IJR.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ISO.AX vs. IJR.AX

Last updated Jul 16, 2026
Documentation

ISO.AX (iShares S&P/ASX Small Ordinaries ETF) and IJR.AX (iShares S&P Small-Cap ETF) are both Small Cap Blend Equities funds from iShares - ISO.AX tracks the iShares S&P/ASX Small Ordinaries Index while IJR.AX tracks the iShares S&P Small-Cap Index. Both are passively managed. Over the past 10 years, ISO.AX returned 5.50%/yr vs 19.56%/yr for IJR.AX. At a 0.38 correlation, their price movements are largely independent.

Performance

ISO.AX vs. IJR.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in iShares S&P/ASX Small Ordinaries ETF (ISO.AX) and iShares S&P Small-Cap ETF (IJR.AX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ISO.AX achieves a -9.91% return, which is significantly lower than IJR.AX's 15.84% return. Over the past 10 years, ISO.AX has underperformed IJR.AX with an annualized return of 5.50%, while IJR.AX has yielded a comparatively higher 19.56% annualized return.

ISO.AX

1D
-0.20%
1M
-4.80%
6M
-13.08%
YTD
-9.91%
1Y
4.17%
3Y*
6.97%
5Y*
1.90%
10Y*
5.50%

IJR.AX

1D
0.65%
1M
1.95%
6M
11.15%
YTD
15.84%
1Y
22.13%
3Y*
13.31%
5Y*
9.05%
10Y*
19.56%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ISO.AX vs. IJR.AX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ISO.AX
iShares S&P/ASX Small Ordinaries ETF		-9.91%23.98%6.92%7.36%-18.61%16.08%8.74%20.36%-8.59%19.54%
IJR.AX
iShares S&P Small-Cap ETF		15.84%-1.20%16.88%16.63%-9.47%34.92%1.20%24.13%1.02%107.76%

Correlation

The correlation between ISO.AX and IJR.AX is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.36

Correlation (3Y)
Calculated over the trailing 3-year period

0.38

Correlation (5Y)
Calculated over the trailing 5-year period

0.45

Correlation (10Y)
Calculated over the trailing 10-year period

0.43

Correlation (All Time)
Calculated using the full available price history since Dec 7, 2010

0.38

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iShares S&P/ASX Small Ordinaries ETF

iShares S&P Small-Cap ETF

Return for Risk

ISO.AX vs. IJR.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ISO.AX
ISO.AX Risk / Return Rank: 1212
Overall Rank
ISO.AX Sharpe Ratio Rank: 1313
Sharpe Ratio Rank
ISO.AX Sortino Ratio Rank: 1212
Sortino Ratio Rank
ISO.AX Omega Ratio Rank: 1212
Omega Ratio Rank
ISO.AX Calmar Ratio Rank: 1212
Calmar Ratio Rank
ISO.AX Martin Ratio Rank: 1212
Martin Ratio Rank
IJR.AX
IJR.AX Risk / Return Rank: 4848
Overall Rank
IJR.AX Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
IJR.AX Sortino Ratio Rank: 4848
Sortino Ratio Rank
IJR.AX Omega Ratio Rank: 4949
Omega Ratio Rank
IJR.AX Calmar Ratio Rank: 4949
Calmar Ratio Rank
IJR.AX Martin Ratio Rank: 4747
Martin Ratio Rank
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.

ISO.AX vs. IJR.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P/ASX Small Ordinaries ETF (ISO.AX) and iShares S&P Small-Cap ETF (IJR.AX). 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.

ISO.AXIJR.AXDifference
Sharpe ratioReturn per unit of total volatility
0.22
1.43

-1.21

Sortino ratioReturn per unit of downside risk
0.43
2.02

-1.59

Omega ratioGain probability vs. loss probability

1.05

1.26

-0.20

Calmar ratioReturn relative to maximum drawdown

0.22

2.06

-1.84

Martin ratioReturn relative to average drawdown

0.48

6.31

-5.83

ISO.AX vs. IJR.AX - Sharpe Ratio Comparison

The current ISO.AX Sharpe Ratio is 0.22, which is lower than the IJR.AX Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of ISO.AX and IJR.AX, 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

ISO.AX vs. IJR.AX - Drawdown Comparison

The maximum ISO.AX drawdown since its inception was -42.99%, which is greater than IJR.AX's maximum drawdown of -35.55%. Use the drawdown chart below to compare losses from any high point for ISO.AX and IJR.AX.

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Drawdown Indicators

ISO.AXIJR.AXDifference

Max Drawdown

Largest peak-to-trough decline

-42.99%

-35.55%

-7.44%

Max Drawdown (1Y)

Largest decline over 1 year

-18.29%

-11.45%

-6.84%

Max Drawdown (3Y)

Largest decline over 3 years

-18.29%

-24.63%

+6.34%

Max Drawdown (5Y)

Largest decline over 5 years

-26.29%

-24.63%

-1.66%

Max Drawdown (10Y)

Largest decline over 10 years

-42.99%

-34.84%

-8.15%

Current Drawdown

Current decline from peak

-14.36%

-2.46%

-11.90%

Average Drawdown

Average peak-to-trough decline

-11.88%

-8.01%

-3.87%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.61%

3.78%

+4.83%

Volatility

ISO.AX vs. IJR.AX - Volatility Comparison

iShares S&P/ASX Small Ordinaries ETF (ISO.AX) and iShares S&P Small-Cap ETF (IJR.AX) have volatilities of 3.38% and 3.51%, 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.

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Volatility by Period

ISO.AXIJR.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.38%

3.51%

-0.13%

Volatility (6M)

Calculated over the trailing 6-month period

15.37%

12.38%

+2.99%

Volatility (1Y)

Calculated over the trailing 1-year period

18.63%

16.64%

+1.99%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.09%

18.46%

-1.37%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.41%

36.92%

-19.51%

Dividends

ISO.AX vs. IJR.AX - Dividend Comparison

ISO.AX's dividend yield for the trailing twelve months is around 3.39%, more than IJR.AX's 0.77% yield.

PositionTTM20252024202320222021202020192018201720162015
IJR.AX
iShares S&P Small-Cap ETF		0.77%0.87%1.26%1.29%1.86%1.66%1.52%2.18%1.53%0.10%0.70%0.00%
ISO.AX
iShares S&P/ASX Small Ordinaries ETF		3.39%1.90%1.83%2.72%8.08%6.81%2.50%7.22%2.14%2.10%1.08%3.26%

Frequently Asked Questions

ISO.AX and IJR.AX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

ISO.AX tracks iShares S&P/ASX Small Ordinaries Index, while IJR.AX tracks iShares S&P Small-Cap Index.

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