VBK vs. IJR

Last updated Jun 23, 2026

VBK (Vanguard Small-Cap Growth ETF) and IJR (iShares Core S&P Small-Cap ETF) are both exchange-traded funds - VBK is a Small Cap Growth Equities fund tracking the CRSP US Small Cap Growth Index, 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, VBK returned 12.20%/yr vs 11.34%/yr for IJR. Their correlation of 0.92 suggests significant overlap in exposure. VBK charges 0.05%/yr vs 0.06%/yr for IJR.

Performance

VBK vs. IJR - Performance Comparison

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

Returns By Period

In the year-to-date period, VBK achieves a 18.61% return, which is significantly lower than IJR's 19.75% return. Over the past 10 years, VBK has outperformed IJR with an annualized return of 12.20%, while IJR has yielded a comparatively lower 11.34% annualized return.

VBK

• 1D: 0.39%
• 1M: 3.11%
• YTD: 18.61%
• 6M: 15.14%
• 1Y: 33.39%
• 3Y*: 18.20%
• 5Y*: 5.09%
• 10Y*: 12.20%

IJR

• 1D: 0.03%
• 1M: 4.58%
• YTD: 19.75%
• 6M: 16.72%
• 1Y: 36.74%
• 3Y*: 16.28%
• 5Y*: 6.65%
• 10Y*: 11.34%

*Multi-year figures are annualized to reflect compound growth (CAGR)

VBK vs. IJR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VBK Vanguard Small-Cap Growth ETF	18.61%	8.50%	16.50%	21.45%	-28.44%	5.66%	35.44%	32.75%	-5.70%	21.87%
IJR iShares Core S&P Small-Cap ETF	19.75%	5.89%	8.63%	16.06%	-16.20%	26.58%	11.28%	22.82%	-8.51%	13.15%

Correlation

The correlation between VBK and IJR is 0.84, 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	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Jan 30, 2004	0.92

The correlation between VBK and IJR has been stable across timeframes, ranging from 0.84 to 0.92 - a consistent structural relationship.

VBK vs. IJR - Sectors Allocation Comparison

Sectors	VBK	IJR
Technology	27.2%	15.9%
Industrials	24.6%	16.0%
Healthcare	14.4%	11.0%
Consumer Cyclical	7.9%	12.5%
Financial Services	5.4%	16.0%
Energy	4.4%	6.8%
Real Estate	3.5%	7.5%
Communication Services	3.0%	3.2%
Consumer Defensive	2.7%	3.2%
Basic Materials	2.7%	4.7%
Utilities	1.3%	1.9%

Return for Risk

VBK vs. IJR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VBK

VBK Risk / Return Rank: 53
VBK Sharpe Ratio Rank: 50
VBK Sortino Ratio Rank: 48
VBK Omega Ratio Rank: 45
VBK Calmar Ratio Rank: 61
VBK Martin Ratio Rank: 63

IJR

IJR Risk / Return Rank: 71
IJR Sharpe Ratio Rank: 66
IJR Sortino Ratio Rank: 69
IJR Omega Ratio Rank: 60
IJR Calmar Ratio Rank: 83
IJR Martin Ratio Rank: 77

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.

VBK vs. IJR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap Growth ETF (VBK) 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.

	VBK	IJR	Difference
Sharpe ratio: Return per unit of total volatility	1.67	2.08	-0.41
Sortino ratio: Return per unit of downside risk	2.30	2.99	-0.69
Omega ratio: Gain probability vs. loss probability	1.28	1.36	-0.07
Calmar ratio: Return relative to maximum drawdown	2.93	4.25	-1.32
Martin ratio: Return relative to average drawdown	10.98	14.27	-3.29

VBK vs. IJR - Sharpe Ratio Comparison

The current VBK Sharpe Ratio is 1.67, which is comparable to the IJR Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of VBK 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.

Drawdowns

VBK vs. IJR - Drawdown Comparison

The maximum VBK drawdown since its inception was -58.68%, roughly equal to the maximum IJR drawdown of -58.15%. Use the drawdown chart below to compare losses from any high point for VBK and IJR.

Drawdown Indicators

	VBK	IJR	Difference
Max Drawdown Largest peak-to-trough decline	-58.68%	-58.15%	-0.53%
Max Drawdown (1Y) Largest decline over 1 year	-11.44%	-8.68%	-2.76%
Max Drawdown (3Y) Largest decline over 3 years	-27.54%	-28.02%	+0.48%
Max Drawdown (5Y) Largest decline over 5 years	-38.39%	-28.02%	-10.37%
Max Drawdown (10Y) Largest decline over 10 years	-38.70%	-44.36%	+5.66%
Current Drawdown Current decline from peak	-0.05%	-0.09%	+0.04%
Average Drawdown Average peak-to-trough decline	-10.14%	-9.26%	-0.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.05%	2.58%	+0.47%

Volatility

VBK vs. IJR - Volatility Comparison

Vanguard Small-Cap Growth ETF (VBK) has a higher volatility of 6.94% compared to iShares Core S&P Small-Cap ETF (IJR) at 4.92%. This indicates that VBK'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.

Volatility by Period

	VBK	IJR	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.94%	4.92%	+2.02%
Volatility (6M) Calculated over the trailing 6-month period	15.58%	12.05%	+3.53%
Volatility (1Y) Calculated over the trailing 1-year period	20.07%	17.76%	+2.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.62%	21.40%	+2.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.94%	22.93%	+0.01%

VBK vs. IJR - Expense Ratio Comparison

VBK has a 0.05% expense ratio, which is lower than IJR's 0.06% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VBK vs. IJR - Dividend Comparison

VBK's dividend yield for the trailing twelve months is around 0.44%, less than IJR's 1.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IJR iShares Core S&P Small-Cap ETF	1.15%	1.44%	2.05%	1.31%	1.41%	1.53%	1.11%	1.44%	1.58%	1.20%	1.22%	1.48%
VBK Vanguard Small-Cap Growth ETF	0.44%	0.54%	0.54%	0.68%	0.55%	0.36%	0.44%	0.57%	0.79%	0.82%	1.08%	0.98%

Frequently Asked Questions

Can I hold both VBK and IJR in my portfolio?

VBK and IJR have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VBK or IJR?

VBK has higher volatility (6.94%) compared to IJR (4.92%). In terms of maximum drawdown, VBK dropped -58.68% vs IJR's -58.15%.

Which ETF is better, VBK or IJR?

On 10-year performance, VBK leads with 12.20% vs 11.34% for IJR. On fees, VBK is cheaper at 0.05% per year. On volatility, IJR has been the lower-risk option at 4.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VBK or IJR?

Over the 10-year period, VBK has performed better with a 12.20% return vs 11.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VBK or IJR?

VBK is cheaper with a 0.05% expense ratio, compared with 0.06% for IJR.

Which ETF pays a higher dividend yield, VBK or IJR?

IJR has the higher dividend yield at 1.15%, compared with 0.44% for VBK.

What is the main difference between VBK and IJR?

VBK is categorized as Small Cap Growth Equities, while IJR is Small Cap Blend Equities. VBK tracks CRSP US Small Cap Growth Index, while IJR tracks S&P SmallCap 600 Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.05% for VBK and 0.06% for IJR.

Which has better risk-adjusted returns?

IJR currently has the higher Sharpe Ratio (2.08 vs 1.67), 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.