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IWC vs. ISCB
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IWC vs. ISCB

Last updated Jun 4, 2026

IWC (iShares Micro-Cap ETF) and ISCB (iShares Morningstar Small-Cap ETF) are both Small Cap Blend Equities funds from iShares - IWC tracks the Russell Microcap Index while ISCB tracks the Morningstar US Small Cap Extended Index. Both are passively managed. Over the past 10 years, IWC returned 11.35%/yr vs 9.30%/yr for ISCB. Their correlation of 0.91 suggests significant overlap in exposure. IWC charges 0.60%/yr vs 0.04%/yr for ISCB.

Performance

IWC vs. ISCB - Performance Comparison

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

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Returns By Period

In the year-to-date period, IWC achieves a 18.97% return, which is significantly higher than ISCB's 11.43% return. Over the past 10 years, IWC has outperformed ISCB with an annualized return of 11.35%, while ISCB has yielded a comparatively lower 9.30% annualized return.

IWC

1D
-2.09%
1M
2.88%
YTD
18.97%
6M
18.63%
1Y
55.24%
3Y*
21.73%
5Y*
5.45%
10Y*
11.35%

ISCB

1D
-0.67%
1M
2.77%
YTD
11.43%
6M
11.42%
1Y
29.48%
3Y*
16.41%
5Y*
5.72%
10Y*
9.30%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IWC vs. ISCB - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IWC
iShares Micro-Cap ETF		18.97%22.45%13.63%8.99%-21.93%18.67%20.88%22.20%-13.13%12.79%
ISCB
iShares Morningstar Small-Cap ETF		11.43%12.46%10.90%19.51%-19.04%17.46%6.29%29.42%-13.92%12.95%

Correlation

The correlation between IWC and ISCB is 0.87, 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

0.87

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

0.91

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 Aug 17, 2005

0.91

The correlation between IWC and ISCB has been stable across timeframes, ranging from 0.87 to 0.93 - a consistent structural relationship.

IWC vs. ISCB - Sectors Allocation Comparison

Sectors
IWC
ISCB

Healthcare

28.1%
13.3%

Technology

18.4%
14.6%

Financial Services

18.1%
15.9%

Industrials

13.3%
18.5%

Consumer Cyclical

5.3%
11.8%

Energy

4.7%
4.9%

Basic Materials

4.4%
4.6%

Real Estate

3.5%
8.2%

Consumer Defensive

1.9%
3.4%

Communication Services

1.8%
2.6%

Utilities

0.6%
2.3%

Healthcare

IWC
28.1%
ISCB
13.3%

Technology

IWC
18.4%
ISCB
14.6%

Financial Services

IWC
18.1%
ISCB
15.9%

Industrials

IWC
13.3%
ISCB
18.5%

Consumer Cyclical

IWC
5.3%
ISCB
11.8%

Energy

IWC
4.7%
ISCB
4.9%

Basic Materials

IWC
4.4%
ISCB
4.6%

Real Estate

IWC
3.5%
ISCB
8.2%

Consumer Defensive

IWC
1.9%
ISCB
3.4%

Communication Services

IWC
1.8%
ISCB
2.6%

Utilities

IWC
0.6%
ISCB
2.3%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Micro-Cap ETF

iShares Morningstar Small-Cap ETF

Often compared with IWC:
IWC vs. IWMIWC vs. FDMIWC vs. SPYIWC vs. IWXIWC vs. PVIVXIWC vs. VOOIWC vs. VT
Often compared with ISCB:
ISCB vs. VBISCB vs. ISCGISCB vs. IJRISCB vs. SPSMISCB vs. IMCBISCB vs. IWMISCB vs. SCHA

Return for Risk

IWC vs. ISCB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IWC
IWC Risk / Return Rank: 7171
Overall Rank
IWC Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
IWC Sortino Ratio Rank: 6666
Sortino Ratio Rank
IWC Omega Ratio Rank: 5959
Omega Ratio Rank
IWC Calmar Ratio Rank: 8383
Calmar Ratio Rank
IWC Martin Ratio Rank: 7676
Martin Ratio Rank
ISCB
ISCB Risk / Return Rank: 5656
Overall Rank
ISCB Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
ISCB Sortino Ratio Rank: 5353
Sortino Ratio Rank
ISCB Omega Ratio Rank: 4949
Omega Ratio Rank
ISCB Calmar Ratio Rank: 6363
Calmar Ratio Rank
ISCB Martin Ratio Rank: 6262
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.

IWC vs. ISCB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Micro-Cap ETF (IWC) and iShares Morningstar Small-Cap ETF (ISCB). 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.

IWCISCBDifference
Sharpe ratioReturn per unit of total volatility
2.36
1.80

+0.56

Sortino ratioReturn per unit of downside risk
3.10
2.60

+0.50

Omega ratioGain probability vs. loss probability

1.37

1.31

+0.06

Calmar ratioReturn relative to maximum drawdown

4.47

3.15

+1.31

Martin ratioReturn relative to average drawdown

14.76

11.26

+3.51

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IWC vs. ISCB - Sharpe Ratio Comparison

The current IWC Sharpe Ratio is 2.36, which is higher than the ISCB Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of IWC and ISCB, 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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Sharpe Ratios by Period

IWCISCBDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.36

1.80

+0.56

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.22

0.27

-0.04

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.47

0.41

+0.05

Sharpe Ratio (All Time)

Calculated using the full available price history

0.31

0.38

-0.06

Drawdowns

IWC vs. ISCB - Drawdown Comparison

The maximum IWC drawdown since its inception was -64.61%, which is greater than ISCB's maximum drawdown of -61.25%. Use the drawdown chart below to compare losses from any high point for IWC and ISCB.

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Drawdown Indicators

IWCISCBDifference

Max Drawdown

Largest peak-to-trough decline

-64.61%

-61.25%

-3.36%

Max Drawdown (1Y)

Largest decline over 1 year

-12.43%

-9.39%

-3.04%

Max Drawdown (3Y)

Largest decline over 3 years

-29.46%

-26.22%

-3.24%

Max Drawdown (5Y)

Largest decline over 5 years

-40.68%

-29.94%

-10.74%

Max Drawdown (10Y)

Largest decline over 10 years

-47.21%

-44.18%

-3.03%

Current Drawdown

Current decline from peak

-2.90%

-0.67%

-2.23%

Average Drawdown

Average peak-to-trough decline

-15.28%

-9.80%

-5.48%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.75%

2.63%

+1.12%

Volatility

IWC vs. ISCB - Volatility Comparison

iShares Micro-Cap ETF (IWC) has a higher volatility of 7.29% compared to iShares Morningstar Small-Cap ETF (ISCB) at 4.28%. This indicates that IWC's price experiences larger fluctuations and is considered to be riskier than ISCB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IWCISCBDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.29%

4.28%

+3.01%

Volatility (6M)

Calculated over the trailing 6-month period

17.26%

11.43%

+5.83%

Volatility (1Y)

Calculated over the trailing 1-year period

23.63%

16.51%

+7.12%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

24.42%

21.39%

+3.03%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.42%

22.68%

+1.74%

IWC vs. ISCB - Expense Ratio Comparison

IWC has a 0.60% expense ratio, which is higher than ISCB's 0.04% expense ratio.

Dividends

IWC vs. ISCB - Dividend Comparison

IWC's dividend yield for the trailing twelve months is around 0.91%, less than ISCB's 1.27% yield.

PositionTTM20252024202320222021202020192018201720162015
ISCB
iShares Morningstar Small-Cap ETF		1.27%1.38%1.31%1.49%1.63%1.26%1.26%1.25%1.60%1.24%1.58%1.40%
IWC
iShares Micro-Cap ETF		0.91%1.10%1.06%1.17%1.18%0.78%0.98%1.19%1.01%1.09%1.16%1.49%

Frequently Asked Questions

IWC and ISCB have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IWC has higher volatility (7.29%) compared to ISCB (4.28%). In terms of maximum drawdown, IWC dropped -64.61% vs ISCB's -61.25%.

On 10-year performance, IWC leads with 11.35% vs 9.30% for ISCB. On fees, ISCB is cheaper at 0.04% per year. On volatility, ISCB has been the lower-risk option at 4.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IWC has performed better with a 11.35% return vs 9.30%. 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 0.60% for IWC.

ISCB has the higher dividend yield at 1.27%, compared with 0.91% for IWC.

IWC tracks Russell Microcap Index, while ISCB tracks Morningstar US Small Cap Extended Index. Their fees differ too: 0.60% for IWC and 0.04% for ISCB.

IWC currently has the higher Sharpe Ratio (2.36 vs 1.80), 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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