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RZG vs. ISCG
Performance
Return for Risk
Drawdowns
Volatility
Dividends

RZG vs. ISCG

Last updated Jun 25, 2026

RZG (Invesco S&P SmallCap 600® Pure Growth ETF) and ISCG (iShares Morningstar Small-Cap Growth ETF) are both Small Cap Growth Equities funds - RZG tracks the S&P Small Cap 600 Pure Growth while ISCG tracks the Morningstar US Small Cap Broad Growth Extended Index. Both are passively managed. Over the past 10 years, RZG returned 11.02%/yr vs 11.99%/yr for ISCG. Their correlation of 0.86 suggests significant overlap in exposure. RZG charges 0.35%/yr vs 0.06%/yr for ISCG.

Performance

RZG vs. ISCG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap 600® Pure Growth ETF (RZG) and iShares Morningstar Small-Cap Growth ETF (ISCG). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, RZG achieves a 28.86% return, which is significantly higher than ISCG's 14.95% return. Over the past 10 years, RZG has underperformed ISCG with an annualized return of 11.02%, while ISCG has yielded a comparatively higher 11.99% annualized return.

RZG

1D
1.10%
1M
9.84%
YTD
28.86%
6M
24.63%
1Y
40.41%
3Y*
20.79%
5Y*
6.19%
10Y*
11.02%

ISCG

1D
0.86%
1M
3.23%
YTD
14.95%
6M
11.88%
1Y
29.63%
3Y*
17.77%
5Y*
4.83%
10Y*
11.99%
*Multi-year figures are annualized to reflect compound growth (CAGR)

RZG vs. ISCG - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
RZG
Invesco S&P SmallCap 600® Pure Growth ETF		28.86%10.22%9.84%19.15%-29.00%21.01%17.76%14.25%-8.70%19.18%
ISCG
iShares Morningstar Small-Cap Growth ETF		14.95%12.88%13.35%23.13%-26.75%-1.26%43.41%27.66%-6.91%24.68%

Correlation

The correlation between RZG and ISCG is 0.89, 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

0.89

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

0.91

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

0.92

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

0.89

Correlation (All Time)
Calculated using the full available price history since Mar 7, 2006

0.86

The correlation between RZG and ISCG has been stable across timeframes, ranging from 0.86 to 0.92 - a consistent structural relationship.

RZG vs. ISCG - Sectors Allocation Comparison

Sectors
RZG
ISCG

Healthcare

22.7%
16.8%

Technology

18.4%
22.0%

Industrials

16.8%
24.4%

Financial Services

15.4%
9.9%

Consumer Cyclical

9.1%
8.8%

Real Estate

5.5%
4.8%

Consumer Defensive

5.4%
2.7%

Communication Services

3.5%
2.8%

Energy

2.7%
3.3%

Basic Materials

0.4%
3.2%

Utilities

0.4%
1.1%

Healthcare

RZG
22.7%
ISCG
16.8%

Technology

RZG
18.4%
ISCG
22.0%

Industrials

RZG
16.8%
ISCG
24.4%

Financial Services

RZG
15.4%
ISCG
9.9%

Consumer Cyclical

RZG
9.1%
ISCG
8.8%

Real Estate

RZG
5.5%
ISCG
4.8%

Consumer Defensive

RZG
5.4%
ISCG
2.7%

Communication Services

RZG
3.5%
ISCG
2.8%

Energy

RZG
2.7%
ISCG
3.3%

Basic Materials

RZG
0.4%
ISCG
3.2%

Utilities

RZG
0.4%
ISCG
1.1%

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 SmallCap 600® Pure Growth ETF

iShares Morningstar Small-Cap Growth ETF

Often compared with RZG:
RZG vs. VBKRZG vs. QQQRZG vs. FDGRZG vs. ^GSPCRZG vs. TNARZG vs. SPSMRZG vs. IWC
Often compared with ISCG:
ISCG vs. DGROISCG vs. VBKISCG vs. IJTISCG vs. ISCBISCG vs. IJRISCG vs. VIOGISCG vs. VBR

Return for Risk

RZG vs. ISCG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
RZG
RZG Risk / Return Rank: 8080
Overall Rank
RZG Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
RZG Sortino Ratio Rank: 8080
Sortino Ratio Rank
RZG Omega Ratio Rank: 6969
Omega Ratio Rank
RZG Calmar Ratio Rank: 8989
Calmar Ratio Rank
RZG Martin Ratio Rank: 8686
Martin Ratio Rank
ISCG
ISCG Risk / Return Rank: 5454
Overall Rank
ISCG Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
ISCG Sortino Ratio Rank: 5151
Sortino Ratio Rank
ISCG Omega Ratio Rank: 4646
Omega Ratio Rank
ISCG Calmar Ratio Rank: 5959
Calmar Ratio Rank
ISCG 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.

RZG vs. ISCG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap 600® Pure Growth ETF (RZG) 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.

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.

RZGISCGDifference
Sharpe ratioReturn per unit of total volatility
2.14
1.60

+0.54

Sortino ratioReturn per unit of downside risk
3.13
2.27

+0.85

Omega ratioGain probability vs. loss probability

1.36

1.27

+0.09

Calmar ratioReturn relative to maximum drawdown

4.71

2.60

+2.10

Martin ratioReturn relative to average drawdown

15.91

9.92

+5.99

RZG vs. ISCG - Sharpe Ratio Comparison

The current RZG Sharpe Ratio is 2.14, which is higher than the ISCG Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of RZG and ISCG, 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

RZG vs. ISCG - Drawdown Comparison

The maximum RZG drawdown since its inception was -58.52%, roughly equal to the maximum ISCG drawdown of -57.72%. Use the drawdown chart below to compare losses from any high point for RZG and ISCG.

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Drawdown Indicators

RZGISCGDifference

Max Drawdown

Largest peak-to-trough decline

-58.52%

-57.72%

-0.80%

Max Drawdown (1Y)

Largest decline over 1 year

-8.63%

-11.43%

+2.80%

Max Drawdown (3Y)

Largest decline over 3 years

-25.73%

-26.71%

+0.98%

Max Drawdown (5Y)

Largest decline over 5 years

-38.33%

-37.80%

-0.53%

Max Drawdown (10Y)

Largest decline over 10 years

-54.02%

-41.48%

-12.54%

Current Drawdown

Current decline from peak

0.00%

-0.33%

+0.33%

Average Drawdown

Average peak-to-trough decline

-12.09%

-11.60%

-0.49%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.55%

3.00%

-0.45%

Volatility

RZG vs. ISCG - Volatility Comparison

The current volatility for Invesco S&P SmallCap 600® Pure Growth ETF (RZG) is 5.47%, while iShares Morningstar Small-Cap Growth ETF (ISCG) has a volatility of 5.91%. This indicates that RZG experiences smaller price fluctuations and is considered to be less risky than ISCG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

RZGISCGDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.47%

5.91%

-0.44%

Volatility (6M)

Calculated over the trailing 6-month period

14.17%

13.60%

+0.57%

Volatility (1Y)

Calculated over the trailing 1-year period

18.97%

18.60%

+0.37%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.04%

23.03%

+0.01%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.65%

23.17%

+1.48%

RZG vs. ISCG - Expense Ratio Comparison

RZG has a 0.35% expense ratio, which is higher than ISCG's 0.06% expense ratio.

Dividends

RZG vs. ISCG - Dividend Comparison

RZG's dividend yield for the trailing twelve months is around 0.44%, less than ISCG's 0.58% yield.

PositionTTM20252024202320222021202020192018201720162015
ISCG
iShares Morningstar Small-Cap Growth ETF		0.58%0.61%0.84%0.77%0.92%0.62%0.10%0.27%0.40%0.52%1.19%0.64%
RZG
Invesco S&P SmallCap 600® Pure Growth ETF		0.44%0.37%0.95%1.43%1.59%0.22%0.49%0.70%0.46%0.44%0.65%0.70%

Frequently Asked Questions

RZG and ISCG have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

ISCG has higher volatility (5.91%) compared to RZG (5.47%). In terms of maximum drawdown, RZG dropped -58.52% vs ISCG's -57.72%.

On 10-year performance, ISCG leads with 11.99% vs 11.02% for RZG. On fees, ISCG is cheaper at 0.06% per year. On volatility, RZG has been the lower-risk option at 5.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, ISCG has performed better with a 11.99% return vs 11.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

ISCG is cheaper with a 0.06% expense ratio, compared with 0.35% for RZG.

ISCG has the higher dividend yield at 0.58%, compared with 0.44% for RZG.

RZG tracks S&P Small Cap 600 Pure Growth, while ISCG tracks Morningstar US Small Cap Broad Growth Extended Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.35% for RZG and 0.06% for ISCG.

RZG currently has the higher Sharpe Ratio (2.14 vs 1.60), 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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