PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
MVV vs. IJR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MVV vs. IJR

Last updated Aug 4, 2026
Documentation

MVV (ProShares Ultra Midcap 400) and IJR (iShares Core S&P Small-Cap ETF) are both exchange-traded funds - MVV is a Leveraged Equities fund tracking the S&P MidCap 400 Index (200%), while IJR is a Small Cap Blend Equities fund tracking the S&P SmallCap 600 Index. Both are passively managed. Over the past 10 years, MVV returned 12.98%/yr vs 10.83%/yr for IJR. Their 0.95 correlation means they have historically moved very closely together. MVV charges 0.95%/yr vs 0.06%/yr for IJR.

Performance

MVV vs. IJR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Midcap 400 (MVV) and iShares Core S&P Small-Cap ETF (IJR). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, MVV achieves a 28.19% return, which is significantly higher than IJR's 23.60% return. Over the past 10 years, MVV has outperformed IJR with an annualized return of 12.98%, while IJR has yielded a comparatively lower 10.83% annualized return.

MVV

1D
2.04%
1M
-0.38%
6M
17.10%
YTD
28.19%
1Y
42.36%
3Y*
17.85%
5Y*
7.80%
10Y*
12.98%
ALL TIME*
11.66%

IJR

1D
1.65%
1M
0.94%
6M
15.73%
YTD
23.60%
1Y
38.11%
3Y*
14.47%
5Y*
8.07%
10Y*
10.83%
ALL TIME*
10.21%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

IJR

iShares Core S&P Small-Cap ETF
$497.97M$462.30M$544.01M

MVV

ProShares Ultra Midcap 400
$571.21K$587.07K$850.63K

MVV vs. IJR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MVV
ProShares Ultra Midcap 400		28.19%3.48%17.75%22.51%-31.96%48.57%6.20%49.50%-25.44%30.81%
IJR
iShares Core S&P Small-Cap ETF		23.60%5.89%8.63%16.06%-16.20%26.58%11.28%22.82%-8.51%13.15%

Correlation

The correlation between MVV and IJR is 0.93, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.93

Correlation (3Y)
Balances recent behavior with more history.

0.95

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.96

Correlation (10Y)
Provides a long-term view across more market conditions.

0.95

Correlation (All Time)
Calculated using the full available price history since Jun 21, 2006

0.95

The correlation between MVV and IJR has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

MVV vs. IJR - Sectors Allocation Comparison

Sectors
MVV
IJR

Industrials

25.3%
15.6%

Technology

17.2%
15.5%

Financial Services

13.9%
17.0%

Consumer Cyclical

10.5%
13.2%

Healthcare

8.9%
12.4%

Real Estate

7.3%
7.6%

Basic Materials

4.8%
4.7%

Energy

4.6%
4.9%

Consumer Defensive

3.2%
4.2%

Utilities

2.9%
1.8%

Communication Services

1.5%
3.2%

Industrials

MVV
25.3%
IJR
15.6%

Technology

MVV
17.2%
IJR
15.5%

Financial Services

MVV
13.9%
IJR
17.0%

Consumer Cyclical

MVV
10.5%
IJR
13.2%

Healthcare

MVV
8.9%
IJR
12.4%

Real Estate

MVV
7.3%
IJR
7.6%

Basic Materials

MVV
4.8%
IJR
4.7%

Energy

MVV
4.6%
IJR
4.9%

Consumer Defensive

MVV
3.2%
IJR
4.2%

Utilities

MVV
2.9%
IJR
1.8%

Communication Services

MVV
1.5%
IJR
3.2%

Compare stocks, funds, or ETFs

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

ProShares Ultra Midcap 400

iShares Core S&P Small-Cap ETF

Often compared with MVV:
MVV vs. SAAMVV vs. MIDUMVV vs. UMDDMVV vs. MDYMVV vs. AMAGXMVV vs. QQQMVV vs. TMF
Often compared with IJR:
IJR vs. IWMIJR vs. VBIJR vs. AVUVIJR vs. IJHIJR vs. IJSIJR vs. SCHAIJR vs. VBR

Return for Risk

MVV vs. IJR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
MVV
MVV Risk / Return Rank: 5858
Overall Rank
MVV Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
MVV Sortino Ratio Rank: 5555
Sortino Ratio Rank
MVV Omega Ratio Rank: 5151
Omega Ratio Rank
MVV Calmar Ratio Rank: 6666
Calmar Ratio Rank
MVV Martin Ratio Rank: 6565
Martin Ratio Rank
IJR
IJR Risk / Return Rank: 9090
Overall Rank
IJR Sharpe Ratio Rank: 8989
Sharpe Ratio Rank
IJR Sortino Ratio Rank: 9090
Sortino Ratio Rank
IJR Omega Ratio Rank: 8686
Omega Ratio Rank
IJR Calmar Ratio Rank: 9393
Calmar Ratio Rank
IJR Martin Ratio Rank: 9191
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MVV vs. IJR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Midcap 400 (MVV) and iShares Core S&P Small-Cap ETF (IJR). 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.

MVVIJRDifference
Sharpe ratioReturn per unit of total volatility
1.35
2.22

-0.87

Sortino ratioReturn per unit of downside risk
1.98
3.22

-1.24

Omega ratioGain probability vs. loss probability

1.24

1.38

-0.15

Calmar ratioReturn relative to maximum drawdown

2.41

4.41

-2.00

Martin ratioReturn relative to average drawdown

8.19

15.06

-6.87

MVV vs. IJR - Sharpe Ratio Comparison

The current MVV Sharpe Ratio is 1.35, which is lower than the IJR Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of MVV and IJR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

MVV vs. IJR - Drawdown Comparison

The maximum MVV drawdown since its inception was -85.54%, which is greater than IJR's maximum drawdown of -58.15%. Use the drawdown chart below to compare losses from any high point for MVV and IJR.

Loading charts...

Drawdown Indicators

MVVIJRDifference

Max Drawdown

Largest peak-to-trough decline

-85.54%

-58.15%

-27.39%

Max Drawdown (1Y)

Largest decline over 1 year

-17.68%

-8.68%

-9.00%

Max Drawdown (3Y)

Largest decline over 3 years

-44.80%

-28.02%

-16.78%

Max Drawdown (5Y)

Largest decline over 5 years

-45.53%

-28.02%

-17.51%

Max Drawdown (10Y)

Largest decline over 10 years

-69.19%

-44.36%

-24.83%

Current Drawdown

Current decline from peak

-3.22%

-0.30%

-2.92%

Average Drawdown

Average peak-to-trough decline

-20.40%

-9.23%

-11.17%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.19%

2.54%

+2.65%

Volatility

MVV vs. IJR - Volatility Comparison

ProShares Ultra Midcap 400 (MVV) has a higher volatility of 7.32% compared to iShares Core S&P Small-Cap ETF (IJR) at 3.73%. This indicates that MVV's price experiences larger fluctuations and is considered to be riskier than IJR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

MVVIJRDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.32%

3.73%

+3.59%

Volatility (6M)

Calculated over the trailing 6-month period

23.30%

11.70%

+11.60%

Volatility (1Y)

Calculated over the trailing 1-year period

31.52%

17.30%

+14.22%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

39.50%

21.26%

+18.24%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

42.28%

22.86%

+19.42%

MVV vs. IJR - Expense Ratio Comparison

MVV has a 0.95% expense ratio, which is higher than IJR's 0.06% expense ratio.

Dividends

MVV vs. IJR - Dividend Comparison

MVV's dividend yield for the trailing twelve months is around 0.68%, less than IJR's 1.11% yield.

PositionTTM20252024202320222021202020192018201720162015
IJR
iShares Core S&P Small-Cap ETF		1.11%1.44%2.05%1.31%1.41%1.53%1.11%1.44%1.58%1.20%1.22%1.48%
MVV
ProShares Ultra Midcap 400		0.68%0.77%0.39%0.77%0.93%0.16%0.29%0.62%0.62%0.21%0.43%0.17%

Frequently Asked Questions

With a correlation of 0.93, MVV and IJR 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.

MVV has higher volatility (7.32%) compared to IJR (3.73%). In terms of maximum drawdown, MVV dropped -85.54% vs IJR's -58.15%.

On 10-year performance, MVV leads with 12.98% vs 10.83% for IJR. On fees, IJR is cheaper at 0.06% per year. On volatility, IJR has been the lower-risk option at 3.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, MVV has performed better with a 12.98% return vs 10.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IJR is cheaper with a 0.06% expense ratio, compared with 0.95% for MVV.

IJR has the higher dividend yield at 1.11%, compared with 0.68% for MVV.

MVV is categorized as Leveraged Equities, while IJR is Small Cap Blend Equities. MVV tracks S&P MidCap 400 Index (200%), while IJR tracks S&P SmallCap 600 Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for MVV and 0.06% for IJR.

IJR currently has the higher Sharpe Ratio (2.22 vs 1.35), 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.

Portfolio Optimizer

Find the right allocation for MVV and IJR

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer