⚖️ IJR vs AVUV Comparison · Free & No Signup

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 is cheaper 🔬 Compare top 10 holdings → 💡 Plain-English verdict

🤝 BFF Take

AVUV for Factor Believers. IJR for Passive Investors Who Want Quality Built In.

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.

📋 Quick Takeaways

🔬IJR screens for profitability via S&P 600 inclusion rules. AVUV actively overweights the most profitable value stocks using factor research.

💰IJR costs 0.06%. AVUV costs 0.25%. That 19 basis point gap is $190/year on $100,000 — meaningful if the factor premium does not persist.

📈AVUV has outperformed IJR since its 2019 launch by several percentage points annualized, but the track record is only 6 years.

📊 Data-Based Take: AVUV has the lower fee

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.

✓ Reviewed by a CFA® Charterholder · Data updated Jun 2026 · Educational only, not financial advice

IJR

iShares Core S&P Small-Cap ETF

Expense Ratio

0.06% ✓

1-Year Return

+8.9%

AUM

$30B

Holdings

600

AVUV

Avantis US Small Cap Value ETF

Expense Ratio

0.25%

1-Year Return

+11.4%

AUM

$15B

Holdings

730

📋 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	$30B	$15B
Holdings	600	730
Inception	2000	2019
1-Year Return	+8.90%	+11.40%
3-Year Return	+4.80%	+7.20%
5-Year Return	+9.40%	+12.80%
Avg Bid-Ask Spread	0.01%	0.01%

Data from ETF BFF database. Returns are annualised. Not investment advice.

📊 IJR vs AVUV — Annualised Returns

Annualised returns (trailing, price-based). Past performance does not guarantee future results.

🎯 Should You Buy IJR or AVUV?

Choose if...

IJR

You want the lowest fees — saves ~$19/yr per $10K vs AVUV
You already use iShares and prefer staying within their fund family

Choose if...

AVUV

You already use Avantis and prefer staying within their fund family

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❓ IJR vs AVUV — Frequently Asked Questions

What is the difference between IJR and AVUV?

IJR passively tracks the S&P SmallCap 600 Index, which includes a basic earnings requirement (positive earnings for two consecutive quarters). This makes IJR a higher-quality small-cap fund than a Russell 2000 tracker but still largely a market-cap-weighted passive index. AVUV is an actively managed ETF that applies Fama-French factor research to specifically overweight small-cap stocks with strong value characteristics AND high profitability. The result is a more concentrated tilt toward the academic factors most associated with excess returns in small-cap stocks.

Does IJR have a value tilt?

No. IJR holds all S&P 600 stocks in market-cap proportion, which includes both growth and value companies. It does not tilt toward value. If you specifically want small-cap value exposure, you would look at IJS (iShares S&P Small-Cap 600 Value ETF), VBR (Vanguard Small-Cap Value ETF), or AVUV. IJR is a broad small-cap fund with a quality gate, not a value fund.

Is AVUV better than IJR for long-term investors?

AVUV has outperformed IJR since its 2019 launch, but six years is not enough history to draw definitive conclusions. The academic case for the value and profitability factors it targets is strong and spans decades across multiple markets. The counterargument: factor premiums can go through long periods of underperformance (small-cap value underperformed growth significantly from 2007 to 2020), and 0.25% is a real annual cost drag if the factor premium is muted. Long-term investors who believe in factor investing have a reasonable case for AVUV. Past performance does not guarantee future results.

Why does the S&P 600 beat the Russell 2000 over time?

The S&P 600 requires positive earnings for inclusion, which excludes unprofitable companies that drag down Russell 2000 returns. Studies show the S&P 600 has historically outperformed the Russell 2000 by 1-2% annually on this basis alone. IJR captures this advantage at 0.06%. AVUV attempts to go even further by tilting within the small-cap universe toward the most attractive value and profitability characteristics.

Can I hold both IJR and AVUV?

You can, but there is meaningful overlap — AVUV holds many of the same stocks as IJR with different weightings. The main reason to hold both would be if you want to tilt toward the factor premium without committing fully to AVUV's active approach and higher fee. A common structure: 70% IJR (passive core) + 30% AVUV (factor tilt satellite). That blended cost is around 0.12% and gives you partial exposure to the AVUV methodology.

New to ETF investing? See answers to the most common ETF questions →

📄 IJR & AVUV Fact Sheets

IJR Fact Sheet→ AVUV Fact Sheet→

ℹ️ Data shown is for educational purposes and may not reflect the most current figures. Returns are trailing price-based and exclude dividend reinvestment. Past performance does not guarantee future results. ETF BFF is not a licensed financial advisor — this is not personalized financial advice.