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RWK vs. ISCB
Performance
Return for Risk
Drawdowns
Volatility
Dividends

RWK vs. ISCB

Last updated Jun 24, 2026

RWK (Invesco S&P MidCap 400 Revenue ETF) and ISCB (iShares Morningstar Small-Cap ETF) are both Small Cap Blend Equities funds - RWK tracks the S&P MidCap 400 Revenue-Weighted Index while ISCB tracks the Morningstar US Small Cap Extended Index. Both are passively managed. Over the past 10 years, RWK returned 13.12%/yr vs 9.82%/yr for ISCB. Their correlation of 0.91 suggests significant overlap in exposure. RWK charges 0.39%/yr vs 0.04%/yr for ISCB.

Performance

RWK vs. ISCB - 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 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, RWK achieves a 13.93% return, which is significantly higher than ISCB's 13.15% return. Over the past 10 years, RWK has outperformed ISCB with an annualized return of 13.12%, while ISCB has yielded a comparatively lower 9.82% annualized return.

RWK

1D
-0.34%
1M
3.57%
YTD
13.93%
6M
12.02%
1Y
26.41%
3Y*
17.49%
5Y*
11.36%
10Y*
13.12%

ISCB

1D
-0.39%
1M
2.62%
YTD
13.15%
6M
11.14%
1Y
29.94%
3Y*
17.02%
5Y*
5.91%
10Y*
9.82%
*Multi-year figures are annualized to reflect compound growth (CAGR)

RWK vs. ISCB - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
RWK
Invesco S&P MidCap 400 Revenue ETF		13.93%10.27%11.94%23.76%-8.19%34.31%11.06%28.20%-14.65%13.39%
ISCB
iShares Morningstar Small-Cap ETF		13.15%12.46%10.90%19.51%-19.04%17.46%6.29%29.42%-13.92%12.95%

Correlation

The correlation between RWK and ISCB is 0.91, 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

0.91

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

0.94

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

0.94

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

0.93

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

0.91

The correlation between RWK and ISCB has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

RWK vs. ISCB - Sectors Allocation Comparison

Sectors
RWK
ISCB

Industrials

22.1%
18.5%

Consumer Cyclical

20.4%
11.4%

Technology

16.1%
16.0%

Financial Services

12.1%
15.6%

Consumer Defensive

10.4%
3.2%

Energy

5.0%
4.5%

Basic Materials

4.9%
4.6%

Healthcare

4.2%
13.5%

Real Estate

2.6%
8.1%

Utilities

1.6%
2.2%

Communication Services

0.7%
2.6%

Industrials

RWK
22.1%
ISCB
18.5%

Consumer Cyclical

RWK
20.4%
ISCB
11.4%

Technology

RWK
16.1%
ISCB
16.0%

Financial Services

RWK
12.1%
ISCB
15.6%

Consumer Defensive

RWK
10.4%
ISCB
3.2%

Energy

RWK
5.0%
ISCB
4.5%

Basic Materials

RWK
4.9%
ISCB
4.6%

Healthcare

RWK
4.2%
ISCB
13.5%

Real Estate

RWK
2.6%
ISCB
8.1%

Utilities

RWK
1.6%
ISCB
2.2%

Communication Services

RWK
0.7%
ISCB
2.6%

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 Morningstar Small-Cap ETF

Often compared with RWK:
RWK vs. RWJRWK vs. RFVRWK vs. XMHQRWK vs. XMVMRWK vs. PRNRWK vs. ONEYRWK vs. PRFZ
Often compared with ISCB:
ISCB vs. VBISCB vs. ISCGISCB vs. IJRISCB vs. SPSMISCB vs. IMCBISCB vs. IWMISCB vs. SCHA

Return for Risk

RWK vs. ISCB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
RWK
RWK Risk / Return Rank: 4848
Overall Rank
RWK Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
RWK Sortino Ratio Rank: 5151
Sortino Ratio Rank
RWK Omega Ratio Rank: 4444
Omega Ratio Rank
RWK Calmar Ratio Rank: 5151
Calmar Ratio Rank
RWK Martin Ratio Rank: 4848
Martin Ratio Rank
ISCB
ISCB Risk / Return Rank: 6060
Overall Rank
ISCB Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
ISCB Sortino Ratio Rank: 5858
Sortino Ratio Rank
ISCB Omega Ratio Rank: 5252
Omega Ratio Rank
ISCB Calmar Ratio Rank: 6868
Calmar Ratio Rank
ISCB Martin Ratio Rank: 6767
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.

RWK vs. ISCB - 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 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.

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.

RWKISCBDifference
Sharpe ratioReturn per unit of total volatility
1.58
1.80

-0.22

Sortino ratioReturn per unit of downside risk
2.39
2.59

-0.20

Omega ratioGain probability vs. loss probability

1.28

1.31

-0.03

Calmar ratioReturn relative to maximum drawdown

2.38

3.20

-0.82

Martin ratioReturn relative to average drawdown

7.64

11.44

-3.79

RWK vs. ISCB - Sharpe Ratio Comparison

The current RWK Sharpe Ratio is 1.58, which is comparable to the ISCB Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of RWK 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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Drawdowns

RWK vs. ISCB - Drawdown Comparison

The maximum RWK drawdown since its inception was -56.49%, smaller than the maximum ISCB drawdown of -61.25%. Use the drawdown chart below to compare losses from any high point for RWK and ISCB.

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Drawdown Indicators

RWKISCBDifference

Max Drawdown

Largest peak-to-trough decline

-56.49%

-61.25%

+4.76%

Max Drawdown (1Y)

Largest decline over 1 year

-11.14%

-9.39%

-1.75%

Max Drawdown (3Y)

Largest decline over 3 years

-24.58%

-26.22%

+1.64%

Max Drawdown (5Y)

Largest decline over 5 years

-24.58%

-29.94%

+5.36%

Max Drawdown (10Y)

Largest decline over 10 years

-46.20%

-44.18%

-2.02%

Current Drawdown

Current decline from peak

-1.79%

-0.71%

-1.08%

Average Drawdown

Average peak-to-trough decline

-7.53%

-9.78%

+2.25%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.46%

2.62%

+0.84%

Volatility

RWK vs. ISCB - Volatility Comparison

Invesco S&P MidCap 400 Revenue ETF (RWK) and iShares Morningstar Small-Cap ETF (ISCB) have volatilities of 4.36% and 4.52%, 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

RWKISCBDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.36%

4.52%

-0.16%

Volatility (6M)

Calculated over the trailing 6-month period

12.12%

11.72%

+0.40%

Volatility (1Y)

Calculated over the trailing 1-year period

16.82%

16.73%

+0.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.09%

21.41%

-0.32%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.93%

22.67%

+0.26%

RWK vs. ISCB - Expense Ratio Comparison

RWK has a 0.39% expense ratio, which is higher than ISCB's 0.04% expense ratio.

Dividends

RWK vs. ISCB - Dividend Comparison

RWK's dividend yield for the trailing twelve months is around 1.04%, less than ISCB's 1.30% yield.

PositionTTM20252024202320222021202020192018201720162015
ISCB
iShares Morningstar Small-Cap ETF		1.30%1.38%1.31%1.49%1.63%1.26%1.26%1.25%1.60%1.24%1.58%1.40%
RWK
Invesco S&P MidCap 400 Revenue ETF		1.04%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

With a correlation of 0.91, RWK and ISCB 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.

ISCB has higher volatility (4.52%) compared to RWK (4.36%). In terms of maximum drawdown, RWK dropped -56.49% vs ISCB's -61.25%.

On 10-year performance, RWK leads with 13.12% vs 9.82% for ISCB. On fees, ISCB is cheaper at 0.04% per year. On volatility, RWK has been the lower-risk option at 4.36%. 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 13.12% return vs 9.82%. 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 0.39% for RWK.

ISCB has the higher dividend yield at 1.30%, compared with 1.04% for RWK.

RWK tracks S&P MidCap 400 Revenue-Weighted Index, while ISCB tracks Morningstar US Small Cap Extended Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.39% for RWK and 0.04% for ISCB.

ISCB currently has the higher Sharpe Ratio (1.80 vs 1.58), 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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