IJR vs AVUV: The S&P 600 vs the Factor-Tilted Alternative
IJR is the low-cost passive way to own small-cap stocks with a built-in quality filter. AVUV pays up for a more aggressive value and profitability tilt. The 19 basis point fee gap is real — so is the return difference since 2019.
IJR (iShares Core S&P Small-Cap ETF) and AVUV (Avantis US Small Cap Value ETF) are both higher-quality small-cap options than a plain Russell 2000 fund, but for different reasons. IJR tracks the S&P SmallCap 600, which requires companies to have positive earnings for two consecutive quarters before entry — a simple profitability screen that keeps out the worst zombie companies. AVUV goes further: it actively selects and overweights small-caps that score highest on both value (cheap relative to book value and earnings) and profitability, based on Fama-French factor research. IJR charges 0.06% and holds ~600 stocks. AVUV charges 0.25% and holds ~730 stocks. Since AVUV launched in 2019, it has outperformed IJR, though the track record is short. If you believe in factor investing and want a more aggressive tilt toward the small-cap value premium, AVUV earns its higher fee. If you want low-cost passive small-cap exposure with a quality gate, IJR is the cleaner choice.
Whether the lower-cost fund suits your situation depends on your existing holdings, account type, tax situation, and how you use each fund. This is a cost comparison, not a personalized recommendation.
Both funds trade commission-free at every major brokerage. Where to buy them →
📋 IJR vs AVUV: Key Facts Side by Side
| Metric | IJR | AVUV |
|---|---|---|
| Fund Name | iShares Core S&P Small-Cap ETF | Avantis US Small Cap Value ETF |
| Issuer | iShares | Avantis |
| Tracks Index | S&P SmallCap 600 Index | Active (Factor-Based) |
| Expense Ratio | 0.06% ✓ | 0.25% |
| Cost per $10K/yr | $6.00 | $25.00 |
| AUM | $105.6B | $32.5B |
| Holdings | 600 | 730 |
| Inception | 2000 | 2019 |
| 1-Year Return | +16.69% | +23.36% |
| 3-Year Return | +15.20% | +17.17% |
| 5-Year Return | +4.34% | +9.46% |
| Dividend Yield | 1.22% | 1.23% |
| Holdings Overlap | See holdings overlap → | |
| Avg Bid-Ask Spread | 0.01% | 0.01% |
AUM and returns updated Nov 9, 2026 from ETF BFF database; expense ratios verified against issuer filings. Returns are annualised. Not investment advice.
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📊 IJR vs AVUV: Annualised Returns
Annualised returns (trailing, price-based). Past performance does not guarantee future results.
🎯 Which Fund Fits Which Investor?
- want the lowest fees: saves ~$19/yr per $10K vs AVUV
- already use iShares and prefer staying within one fund family
- already use Avantis and prefer staying within one fund family
💰 What the Fee Difference Actually Costs
Adjust the numbers for your situation. This models each fund's expense ratio compounding against your balance over time.
Assumes a constant annual return reinvested, with each fund's expense ratio deducted yearly. Illustrative only; actual returns vary. Past performance does not guarantee future results.
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