PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
SCJ vs. VOO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SCJ vs. VOO

Last updated Aug 2, 2026
Documentation

SCJ (iShares MSCI Japan Small Cap ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - SCJ is a Japan Equities fund tracking the MSCI Japan Small Cap Index, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, SCJ returned 7.48%/yr vs 15.14%/yr for VOO. Their 0.59 correlation means they have sometimes moved together and sometimes differently. SCJ charges 0.49%/yr vs 0.03%/yr for VOO.

Performance

SCJ vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Japan Small Cap ETF (SCJ) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, SCJ achieves a 15.89% return, which is significantly higher than VOO's 10.16% return. Over the past 10 years, SCJ has underperformed VOO with an annualized return of 7.48%, while VOO has yielded a comparatively higher 15.14% annualized return.

SCJ

1D
-0.74%
1M
-1.70%
6M
9.71%
YTD
15.89%
1Y
25.74%
3Y*
17.39%
5Y*
7.87%
10Y*
7.48%
ALL TIME*
6.06%

VOO

1D
0.71%
1M
0.26%
6M
8.58%
YTD
10.16%
1Y
21.58%
3Y*
19.42%
5Y*
12.83%
10Y*
15.14%
ALL TIME*
14.78%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

SCJ

iShares MSCI Japan Small Cap ETF
$4.19M$4.72M$5.32M

VOO

Vanguard S&P 500 ETF
$3.82B$3.78B$5.44B

SCJ vs. VOO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SCJ
iShares MSCI Japan Small Cap ETF		15.89%29.58%3.41%13.22%-12.75%-2.95%7.46%16.16%-17.17%31.61%
VOO
Vanguard S&P 500 ETF		10.16%17.82%24.98%26.32%-18.17%28.79%18.32%31.37%-4.50%21.77%

Correlation

The correlation between SCJ and VOO is 0.48, which is low. Their historical price movements had little consistent relationship.

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

0.48

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

0.48

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

0.53

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

0.57

Correlation (All Time)
Calculated using the full available price history since Sep 9, 2010

0.59

The correlation between SCJ and VOO shifts across timeframes, from 0.48 (1 year) to 0.59 (all time), reflecting how their relationship changes across market environments.

SCJ vs. VOO - Sectors Allocation Comparison

Sectors
SCJ
VOO

Industrials

26.8%
8.5%

Consumer Cyclical

15.3%
9.5%

Technology

14.4%
38.6%

Financial Services

10.3%
11.4%

Basic Materials

9.0%
1.7%

Real Estate

7.5%
1.8%

Consumer Defensive

6.4%
4.5%

Healthcare

5.3%
8.9%

Communication Services

2.7%
9.9%

Utilities

1.8%
2.2%

Energy

0.6%
3.0%

Industrials

SCJ
26.8%
VOO
8.5%

Consumer Cyclical

SCJ
15.3%
VOO
9.5%

Technology

SCJ
14.4%
VOO
38.6%

Financial Services

SCJ
10.3%
VOO
11.4%

Basic Materials

SCJ
9.0%
VOO
1.7%

Real Estate

SCJ
7.5%
VOO
1.8%

Consumer Defensive

SCJ
6.4%
VOO
4.5%

Healthcare

SCJ
5.3%
VOO
8.9%

Communication Services

SCJ
2.7%
VOO
9.9%

Utilities

SCJ
1.8%
VOO
2.2%

Energy

SCJ
0.6%
VOO
3.0%

Compare stocks, funds, or ETFs

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

iShares MSCI Japan Small Cap ETF

Vanguard S&P 500 ETF

Often compared with SCJ:
SCJ vs. DFJSCJ vs. ^N225SCJ vs. EWJSCJ vs. JPXNSCJ vs. FJSCXSCJ vs. EWUSSCJ vs. FLJP
Often compared with VOO:
VOO vs. VTIVOO vs. QQQVOO vs. SCHDVOO vs. VTVOO vs. FXAIXVOO vs. SPYVOO vs. VGT

Return for Risk

SCJ vs. VOO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
SCJ
SCJ Risk / Return Rank: 6868
Overall Rank
SCJ Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
SCJ Sortino Ratio Rank: 7171
Sortino Ratio Rank
SCJ Omega Ratio Rank: 6868
Omega Ratio Rank
SCJ Calmar Ratio Rank: 6767
Calmar Ratio Rank
SCJ Martin Ratio Rank: 6363
Martin Ratio Rank
VOO
VOO Risk / Return Rank: 6868
Overall Rank
VOO Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
VOO Sortino Ratio Rank: 6565
Sortino Ratio Rank
VOO Omega Ratio Rank: 6666
Omega Ratio Rank
VOO Calmar Ratio Rank: 6464
Calmar Ratio Rank
VOO Martin Ratio Rank: 7676
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.

SCJ vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Japan Small Cap ETF (SCJ) and Vanguard S&P 500 ETF (VOO). 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.

SCJVOODifference
Sharpe ratioReturn per unit of total volatility
1.63
1.53

+0.09

Sortino ratioReturn per unit of downside risk
2.30
2.13

+0.17

Omega ratioGain probability vs. loss probability

1.28

1.28

+0.01

Calmar ratioReturn relative to maximum drawdown

2.30

2.21

+0.09

Martin ratioReturn relative to average drawdown

7.49

9.44

-1.95

SCJ vs. VOO - Sharpe Ratio Comparison

The current SCJ Sharpe Ratio is 1.63, which is comparable to the VOO Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of SCJ and VOO, 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

SCJ vs. VOO - Drawdown Comparison

The maximum SCJ drawdown since its inception was -43.52%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for SCJ and VOO.

Loading charts...

Drawdown Indicators

SCJVOODifference

Max Drawdown

Largest peak-to-trough decline

-43.52%

-33.99%

-9.53%

Max Drawdown (1Y)

Largest decline over 1 year

-12.17%

-8.90%

-3.27%

Max Drawdown (3Y)

Largest decline over 3 years

-12.43%

-18.69%

+6.26%

Max Drawdown (5Y)

Largest decline over 5 years

-33.25%

-24.52%

-8.73%

Max Drawdown (10Y)

Largest decline over 10 years

-38.87%

-33.99%

-4.88%

Current Drawdown

Current decline from peak

-3.27%

-1.38%

-1.89%

Average Drawdown

Average peak-to-trough decline

-10.31%

-3.67%

-6.64%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.74%

2.08%

+1.66%

Volatility

SCJ vs. VOO - Volatility Comparison

iShares MSCI Japan Small Cap ETF (SCJ) has a higher volatility of 6.35% compared to Vanguard S&P 500 ETF (VOO) at 3.54%. This indicates that SCJ's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

SCJVOODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.35%

3.54%

+2.81%

Volatility (6M)

Calculated over the trailing 6-month period

14.53%

10.10%

+4.43%

Volatility (1Y)

Calculated over the trailing 1-year period

17.23%

12.82%

+4.41%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.02%

16.93%

-0.91%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.34%

18.01%

-1.67%

SCJ vs. VOO - Expense Ratio Comparison

SCJ has a 0.49% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

SCJ vs. VOO - Dividend Comparison

SCJ's dividend yield for the trailing twelve months is around 2.77%, more than VOO's 1.07% yield.

PositionTTM20252024202320222021202020192018201720162015
SCJ
iShares MSCI Japan Small Cap ETF		2.77%3.14%1.79%1.99%1.18%1.87%0.89%1.85%1.44%1.45%2.73%1.53%
VOO
Vanguard S&P 500 ETF		1.07%1.13%1.24%1.46%1.69%1.25%1.54%1.88%2.06%1.78%2.02%2.10%

Frequently Asked Questions

SCJ and VOO have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SCJ has higher volatility (6.35%) compared to VOO (3.54%). In terms of maximum drawdown, SCJ dropped -43.52% vs VOO's -33.99%.

On 10-year performance, VOO leads with 15.14% vs 7.48% for SCJ. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 3.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, VOO has performed better with a 15.14% return vs 7.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VOO is cheaper with a 0.03% expense ratio, compared with 0.49% for SCJ.

SCJ has the higher dividend yield at 2.77%, compared with 1.07% for VOO.

SCJ is categorized as Japan Equities, while VOO is S&P 500. SCJ tracks MSCI Japan Small Cap Index, while VOO tracks S&P 500 Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.49% for SCJ and 0.03% for VOO.

SCJ currently has the higher Sharpe Ratio (1.63 vs 1.53), 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 SCJ and VOO

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