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RWK vs. IJR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

RWK vs. IJR

Last updated Aug 2, 2026
Documentation

RWK (Invesco S&P MidCap 400 Revenue ETF) and IJR (iShares Core S&P Small-Cap ETF) are both Small Cap Blend Equities funds - RWK tracks the S&P MidCap 400 Revenue-Weighted Index while IJR tracks the S&P SmallCap 600 Index. Both are passively managed. Over the past 10 years, RWK returned 13.00%/yr vs 10.86%/yr for IJR. Their correlation of 0.91 means they have usually moved in the same direction. RWK charges 0.39%/yr vs 0.06%/yr for IJR.

Performance

RWK vs. IJR - Performance Comparison

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

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Returns By Period

In the year-to-date period, RWK achieves a 18.15% return, which is significantly lower than IJR's 21.59% return. Over the past 10 years, RWK has outperformed IJR with an annualized return of 13.00%, while IJR has yielded a comparatively lower 10.86% annualized return.

RWK

1D
-0.70%
1M
1.66%
6M
13.42%
YTD
18.15%
1Y
28.53%
3Y*
15.25%
5Y*
12.08%
10Y*
13.00%
ALL TIME*
11.54%

IJR

1D
-0.03%
1M
-0.70%
6M
15.04%
YTD
21.59%
1Y
35.87%
3Y*
13.39%
5Y*
7.39%
10Y*
10.86%
ALL TIME*
10.14%
*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
$499.82M$465.35M$539.29M

RWK

Invesco S&P MidCap 400 Revenue ETF
$2.23M$2.59M$2.47M

RWK vs. IJR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
RWK
Invesco S&P MidCap 400 Revenue ETF		18.15%10.27%11.94%23.76%-8.19%34.31%11.06%28.20%-14.65%13.39%
IJR
iShares Core S&P Small-Cap ETF		21.59%5.89%8.63%16.06%-16.20%26.58%11.28%22.82%-8.51%13.15%

Correlation

The correlation between RWK and IJR is 0.90, 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.

0.90

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

0.93

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

0.94

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

0.94

Correlation (All Time)
Calculated using the full available price history since Feb 22, 2008

0.91

The correlation between RWK and IJR has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.

RWK vs. IJR - Sectors Allocation Comparison

Sectors
RWK
IJR

Industrials

23.3%
15.6%

Consumer Cyclical

21.0%
13.2%

Financial Services

13.0%
17.0%

Technology

11.8%
15.5%

Consumer Defensive

11.1%
4.2%

Energy

4.9%
4.9%

Healthcare

4.7%
12.4%

Basic Materials

4.4%
4.7%

Real Estate

2.9%
7.6%

Utilities

1.6%
1.8%

Communication Services

1.4%
3.2%

Industrials

RWK
23.3%
IJR
15.6%

Consumer Cyclical

RWK
21.0%
IJR
13.2%

Financial Services

RWK
13.0%
IJR
17.0%

Technology

RWK
11.8%
IJR
15.5%

Consumer Defensive

RWK
11.1%
IJR
4.2%

Energy

RWK
4.9%
IJR
4.9%

Healthcare

RWK
4.7%
IJR
12.4%

Basic Materials

RWK
4.4%
IJR
4.7%

Real Estate

RWK
2.9%
IJR
7.6%

Utilities

RWK
1.6%
IJR
1.8%

Communication Services

RWK
1.4%
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.

Invesco S&P MidCap 400 Revenue ETF

iShares Core S&P Small-Cap ETF

Often compared with RWK:
RWK vs. RWJRWK vs. RFVRWK vs. XMHQRWK vs. XMVMRWK vs. ONEYRWK vs. PRNRWK vs. PRFZ
Often compared with IJR:
IJR vs. IWMIJR vs. VBIJR vs. AVUVIJR vs. IJHIJR vs. IJSIJR vs. SCHAIJR vs. VBR

Return for Risk

RWK vs. IJR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
RWK
RWK Risk / Return Rank: 6969
Overall Rank
RWK Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
RWK Sortino Ratio Rank: 7575
Sortino Ratio Rank
RWK Omega Ratio Rank: 6767
Omega Ratio Rank
RWK Calmar Ratio Rank: 6868
Calmar Ratio Rank
RWK Martin Ratio Rank: 6464
Martin Ratio Rank
IJR
IJR Risk / Return Rank: 8686
Overall Rank
IJR Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
IJR Sortino Ratio Rank: 8686
Sortino Ratio Rank
IJR Omega Ratio Rank: 8181
Omega Ratio Rank
IJR Calmar Ratio Rank: 9191
Calmar Ratio Rank
IJR Martin Ratio Rank: 8888
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.

RWK vs. IJR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap 400 Revenue ETF (RWK) 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.

RWKIJRDifference
Sharpe ratioReturn per unit of total volatility
1.59
1.95

-0.36

Sortino ratioReturn per unit of downside risk
2.41
2.87

-0.46

Omega ratioGain probability vs. loss probability

1.28

1.34

-0.06

Calmar ratioReturn relative to maximum drawdown

2.34

3.89

-1.54

Martin ratioReturn relative to average drawdown

7.78

13.29

-5.51

RWK vs. IJR - Sharpe Ratio Comparison

The current RWK Sharpe Ratio is 1.59, which is comparable to the IJR Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of RWK 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.

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Drawdowns

RWK vs. IJR - Drawdown Comparison

The maximum RWK drawdown since its inception was -56.49%, roughly equal to the maximum IJR drawdown of -58.15%. Use the drawdown chart below to compare losses from any high point for RWK and IJR.

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Drawdown Indicators

RWKIJRDifference

Max Drawdown

Largest peak-to-trough decline

-56.49%

-58.15%

+1.66%

Max Drawdown (1Y)

Largest decline over 1 year

-11.14%

-8.68%

-2.46%

Max Drawdown (3Y)

Largest decline over 3 years

-24.58%

-28.02%

+3.44%

Max Drawdown (5Y)

Largest decline over 5 years

-24.58%

-28.02%

+3.44%

Max Drawdown (10Y)

Largest decline over 10 years

-46.20%

-44.36%

-1.84%

Current Drawdown

Current decline from peak

-1.30%

-1.92%

+0.62%

Average Drawdown

Average peak-to-trough decline

-7.49%

-9.23%

+1.74%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.35%

2.54%

+0.81%

Volatility

RWK vs. IJR - Volatility Comparison

Invesco S&P MidCap 400 Revenue ETF (RWK) has a higher volatility of 4.08% compared to iShares Core S&P Small-Cap ETF (IJR) at 3.40%. This indicates that RWK'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.

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Volatility by Period

RWKIJRDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.08%

3.40%

+0.68%

Volatility (6M)

Calculated over the trailing 6-month period

11.96%

11.62%

+0.34%

Volatility (1Y)

Calculated over the trailing 1-year period

16.49%

17.33%

-0.84%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.94%

21.25%

-0.31%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.88%

22.85%

+0.03%

RWK vs. IJR - Expense Ratio Comparison

RWK has a 0.39% expense ratio, which is higher than IJR's 0.06% expense ratio.

Dividends

RWK vs. IJR - Dividend Comparison

RWK's dividend yield for the trailing twelve months is around 1.00%, less than IJR's 1.13% yield.

PositionTTM20252024202320222021202020192018201720162015
IJR
iShares Core S&P Small-Cap ETF		1.13%1.44%2.05%1.31%1.41%1.53%1.11%1.44%1.58%1.20%1.22%1.48%
RWK
Invesco S&P MidCap 400 Revenue ETF		1.00%1.25%1.11%1.05%1.18%0.85%0.96%1.09%1.22%0.99%1.30%0.92%

Frequently Asked Questions

RWK and IJR have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

RWK has higher volatility (4.08%) compared to IJR (3.40%). In terms of maximum drawdown, RWK dropped -56.49% vs IJR's -58.15%.

On 10-year performance, RWK leads with 13.00% vs 10.86% for IJR. On fees, IJR is cheaper at 0.06% per year. On volatility, IJR has been the lower-risk option at 3.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, RWK has performed better with a 13.00% return vs 10.86%. 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 0.39% for RWK.

IJR has the higher dividend yield at 1.13%, compared with 1.00% for RWK.

RWK tracks S&P MidCap 400 Revenue-Weighted Index, while IJR tracks S&P SmallCap 600 Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.39% for RWK and 0.06% for IJR.

IJR currently has the higher Sharpe Ratio (1.95 vs 1.59), 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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