ETF Comparison

IJR vs IWM: Which Is the Better Pick in 2026?

A head-to-head comparison of iShares Core S&P Small-Cap ETF and iShares Russell 2000 ETF covering yield, cost, risk, and income potential.

Data updated August 28, 2026

Best for

IJRInvestors who want broad equity exposure.
IWMInvestors who want broad equity exposure.

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Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

IJR has lagged IWM over the trailing twelve months, posting a 24.19% total return against 26.65%. The picture flips over 10 years, though — IJR has compounded at 10.52% a year, ahead of IWM at 10.49%. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
Symbol	YTD	1Y	3Y	5Y	10Y	Since May 2000	Volatility	Sharpe	Sortino	Max drawdown
IJR	20.50%	24.19%	15.47%	6.84%	10.52%	10.13%	20.2%	0.49	0.73	-28.0%
IWM	19.37%	26.65%	18.17%	6.81%	10.49%	8.76%	21.1%	0.58	0.85	-27.5%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 28, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since May 2000” measures every fund from May 26, 2000 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
Metric	IJR	IWM
Full name	iShares Core S&P Small-Cap ETF	iShares Russell 2000 ETF
Issuer	iShares	iShares
Underlying index	S&P SmallCap 600 Index	Russell 2000 Index
Last Close	$145.58 as of August 28, 2026	$295.75 as of August 28, 2026
Distribution yield	1.19%	0.94%
Distribution Safety Score™	70	95
Safety-Adjusted Yield	0.83%	0.89%
Expense ratio	0.06%	0.19%
AUM	$111B	$80.9B
Distribution frequency	Quarterly	Quarterly
Objective	Provide exposure to the fund's underlying index or strategy per issuer materials.	Provide exposure to the fund's underlying index or strategy per issuer materials.
Asset class	Equity	Equity
Inception date	05/22/2000	05/22/2000
Beta	1.07	1.26
Last dividend	$0.4330	$0.6950
Ex-dividend date	06/15/2026	06/15/2026

Bottom lineIJR and IWM are both for investors who want broad equity exposure — so strategy isn't the deciding factor here. Cost is: IJR charges 0.06% against 0.19% for IWM, and between two funds this similar that gap comes straight out of your return every year you hold.

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iShares

ETFs466

Total AUM$4691B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

iShares is one of the largest ETF providers globally, known for offering a broad, diversified lineup of exchange-traded funds across multiple asset classes and investment strategies. The company operates 215 funds spanning 15 distinct families, including popular offerings in dividend income, covered call strategies, bonds, equities, ESG-focused investments, and factor-based approaches, with widely-held tickers like AGG (bond), ACWI (global equity), and AOA (allocation). iShares is characterized by its comprehensive fund ecosystem that serves both core portfolio holdings and specialized investment strategies, making it a prominent player for investors seeking both traditional and alternative income-generating ETF solutions.

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Quick verdict

IJR (iShares Core S&P Small-Cap ETF) and IWM (iShares Russell 2000 ETF) are both quarterly-pay dividend ETFs, but they take different approaches.

IJR offers the higher yield at 1.19% vs 0.94% for IWM. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

IJR is cheaper with an expense ratio of 0.06% compared to 0.19%.

They track different benchmarks: IJR is linked to S&P SmallCap 600 Index while IWM tracks Russell 2000 Index, which means their performance drivers differ.

IJR is the larger fund by assets ($111B), which generally means tighter spreads and better liquidity.

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Deep dive

Yield & income

On a $10,000 investment, IJR would generate roughly $9.92/month, while IWM would produce $7.83/month, at current distribution rates. Both pay quarterly distributions.

IJR yield1.19%

IWM yield0.94%

Monthly diff on $10K$2.08

Cost & efficiency

Over 10 years on $10,000, IJR would cost approximately $60 in fees vs $190 for IWM (simplified, not compounded). The $130.00 difference may be offset by yield or performance.

IJR ER0.06%

IWM ER0.19%

Strategy & risk

IJR tracks S&P SmallCap 600 Index with an index approach, while IWM tracks Russell 2000 Index with an index approach. Beta is 1.07 for IJR and 1.26 for IWM, making IJR the less volatile of the two by this measure.

IJR beta1.07

IWM beta1.26

Fund details

IJR is managed by iShares (launched 05/22/2000) with $111B in assets. IWM is managed by iShares (launched 05/22/2000) with $80.9B in assets.

IJR AUM$111B

IWM AUM$80.9B

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Frequently asked questions

What is the current distribution yield for IJR and IWM?

IJR currently distributes 1.19% and IWM 0.94%, based on fund data updated August 2026. Distribution yield moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is IJR or IWM better for dividend income?

It depends on your goals. IJR currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.

What is the difference between IJR and IWM?

IJR (iShares Core S&P Small-Cap ETF) tracks S&P SmallCap 600 Index with an index approach, while IWM (iShares Russell 2000 ETF) tracks Russell 2000 Index with an index approach. They are issued by iShares and iShares respectively.

Can I hold both IJR and IWM?

Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Is IJR or IWM safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — IWM scores 95, IJR scores 70, so IWM's payout currently looks the more resilient of the two. IJR has also shown lower price volatility (beta 1.07 vs 1.26 for IWM). No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, IJR or IWM?

IJR has an expense ratio of 0.06% while IWM charges 0.19%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in IJR vs IWM generate?

At current rates, $10,000 in IJR would generate roughly $9.92 per month ($119.00 annually). The same in IWM would produce about $7.83 per month ($94.00 annually).

Which has performed better historically, IJR or IWM?

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IJR vs IWM — at a glance

Generated August 29, 2026.

Overview

IJR and IWM are both broad small-cap equity ETFs that track different U.S. small-cap indexes. IJR follows the S&P SmallCap 600 Index, while IWM tracks the Russell 2000 Index. The key distinction is their index construction: the Russell 2000 is larger and more micro-cap-heavy, while the S&P SmallCap 600 sits in the middle of the small-cap spectrum and typically excludes the very smallest names.

How they differ

The Russell 2000 (IWM's underlying) contains roughly 2,000 securities versus the S&P SmallCap 600's more focused 600-name portfolio, making IWM inherently more micro-cap-tilted and more granularly diversified. IWM's beta of 1.26 exceeds IJR's 1.07, reflecting higher volatility relative to the broader market. IJR offers a higher distribution rate of 1.19% compared to IWM's 0.94%, though both pay quarterly. On cost, IJR's expense ratio of 0.06% is substantially lower than IWM's 0.19%—a meaningful gap over time given their similar $111B and $80.9B asset bases.

Who each is best for

IJR: Fits investors who want focused small-cap exposure with a lower-turnover, lower-cost structure and prefer a mid-point between micro-cap risk and traditional small-cap stability.

IWM: Fits investors seeking broader small-cap access with acceptance of higher concentration in true micro-cap names and elevated volatility, and who prioritize Russell index constituents for portfolio alignment.

Key risks to know

Index composition divergence. The Russell 2000's micro-cap tilt means IWM carries higher exposure to the very smallest and least liquid names in the small-cap universe, amplifying drawdown risk during market stress and bid-ask spreads in thin conditions.

Beta and volatility asymmetry. IWM's beta of 1.26 versus IJR's 1.07 signals that IWM amplifies market downturns more sharply; over a full market cycle, this can compound underperformance in prolonged bear markets.

Expense ratio compound drag. While both are low-cost, the 0.13 percentage-point gap between IJR (0.06%) and IWM (0.19%) compounds to roughly 13 basis points annually—modest in isolation but material over decades of holding.

Holdings overlap risk. The two indexes may contain overlapping names across their respective universes, so holding both does not provide uncorrelated diversification; verify overlap before combining them in a portfolio.

Bottom line

IJR offers lower costs and more moderate volatility for core small-cap exposure, while IWM provides access to a broader micro-cap tail at the cost of higher fees and higher beta. If you value simplicity and cost efficiency, IJR's structural advantage becomes apparent over long periods; if you specifically want Russell 2000 index tracking or are comfortable with elevated small-cap turbulence, IWM aligns to that mandate. Past performance does not predict future results.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

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