IWO vs. ISCG

Last updated Apr 1, 2026

Compare and contrast key facts about iShares Russell 2000 Growth ETF (IWO) and iShares Morningstar Small-Cap Growth ETF (ISCG).

IWO and ISCG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IWO is a passively managed fund by iShares that tracks the performance of the Russell 2000 Growth Index. It was launched on Jul 24, 2000. ISCG is a passively managed fund by iShares that tracks the performance of the Morningstar US Small Cap Broad Growth Extended Index. It was launched on Jun 28, 2004. Both IWO and ISCG 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

IWO vs. ISCG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell 2000 Growth ETF (IWO) and iShares Morningstar Small-Cap Growth ETF (ISCG). The values are adjusted to include any dividend payments, if applicable.

IWO vs. ISCG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IWO iShares Russell 2000 Growth ETF	-2.82%	12.90%	15.04%	18.51%	-26.27%	2.54%	34.68%	28.48%	-9.43%	22.25%
ISCG iShares Morningstar Small-Cap Growth ETF	-1.05%	12.88%	13.35%	23.13%	-26.75%	-1.26%	43.41%	27.66%	-6.91%	24.68%

Returns By Period

In the year-to-date period, IWO achieves a -2.82% return, which is significantly lower than ISCG's -1.05% return. Over the past 10 years, IWO has underperformed ISCG with an annualized return of 9.67%, while ISCG has yielded a comparatively higher 10.56% annualized return.

IWO

• 1D: 4.25%
• 1M: -6.37%
• YTD: -2.82%
• 6M: -1.70%
• 1Y: 23.40%
• 3Y*: 12.18%
• 5Y*: 1.22%
• 10Y*: 9.67%

ISCG

• 1D: 3.44%
• 1M: -6.67%
• YTD: -1.05%
• 6M: 1.24%
• 1Y: 22.45%
• 3Y*: 12.87%
• 5Y*: 2.31%
• 10Y*: 10.56%

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

IWO vs. ISCG - Expense Ratio Comparison

IWO has a 0.24% expense ratio, which is higher than ISCG's 0.06% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

IWO

iShares Russell 2000 Growth ETF

ISCG

iShares Morningstar Small-Cap Growth ETF

Return for Risk

IWO vs. ISCG — Risk / Return Rank

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

IWO

IWO Risk / Return Rank: 57
IWO Sharpe Ratio Rank: 56
IWO Sortino Ratio Rank: 59
IWO Omega Ratio Rank: 50
IWO Calmar Ratio Rank: 63
IWO Martin Ratio Rank: 56

ISCG

ISCG Risk / Return Rank: 61
ISCG Sharpe Ratio Rank: 57
ISCG Sortino Ratio Rank: 61
ISCG Omega Ratio Rank: 55
ISCG Calmar Ratio Rank: 65
ISCG Martin Ratio Rank: 66

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.

IWO vs. ISCG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2000 Growth ETF (IWO) and iShares Morningstar Small-Cap Growth ETF (ISCG). 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.

	IWO	ISCG	Difference
Sharpe ratio Return per unit of total volatility	0.93	0.97	-0.03
Sortino ratio Return per unit of downside risk	1.44	1.50	-0.06
Omega ratio Gain probability vs. loss probability	1.18	1.20	-0.02
Calmar ratio Return relative to maximum drawdown	1.51	1.58	-0.07
Martin ratio Return relative to average drawdown	5.11	6.35	-1.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IWO vs. ISCG - Sharpe Ratio Comparison

The current IWO Sharpe Ratio is 0.93, which is comparable to the ISCG Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of IWO and ISCG, 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

	IWO	ISCG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.93	0.97	-0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.05	0.10	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	0.46	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	0.38	-0.13

Correlation

The correlation between IWO and ISCG is 0.95, 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

IWO vs. ISCG - Dividend Comparison

IWO's dividend yield for the trailing twelve months is around 0.48%, less than ISCG's 0.64% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IWO iShares Russell 2000 Growth ETF	0.48%	0.56%	0.80%	0.73%	0.73%	0.32%	0.44%	0.71%	0.76%	0.73%	0.97%	0.89%
ISCG iShares Morningstar Small-Cap Growth ETF	0.64%	0.61%	0.84%	0.77%	0.92%	0.62%	0.10%	0.27%	0.40%	0.52%	1.19%	0.64%

Drawdowns

IWO vs. ISCG - Drawdown Comparison

The maximum IWO drawdown since its inception was -60.11%, roughly equal to the maximum ISCG drawdown of -57.72%. Use the drawdown chart below to compare losses from any high point for IWO and ISCG.

Drawdown Indicators

	IWO	ISCG	Difference
Max Drawdown Largest peak-to-trough decline	-60.11%	-57.72%	-2.39%
Max Drawdown (1Y) Largest decline over 1 year	-14.87%	-14.09%	-0.78%
Max Drawdown (5Y) Largest decline over 5 years	-40.51%	-37.80%	-2.71%
Max Drawdown (10Y) Largest decline over 10 years	-42.02%	-41.48%	-0.54%
Current Drawdown Current decline from peak	-11.25%	-8.39%	-2.86%
Average Drawdown Average peak-to-trough decline	-16.80%	-11.71%	-5.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.39%	3.50%	+0.89%

Volatility

IWO vs. ISCG - Volatility Comparison

iShares Russell 2000 Growth ETF (IWO) has a higher volatility of 8.73% compared to iShares Morningstar Small-Cap Growth ETF (ISCG) at 7.39%. This indicates that IWO's price experiences larger fluctuations and is considered to be riskier than ISCG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWO	ISCG	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.73%	7.39%	+1.34%
Volatility (6M) Calculated over the trailing 6-month period	16.53%	14.01%	+2.52%
Volatility (1Y) Calculated over the trailing 1-year period	25.23%	23.33%	+1.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.47%	22.98%	+1.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.06%	23.12%	+0.94%