# VBR alternatives: 8 similar ETFs compared > ETFs similar to VBR, closest first, with each fund's fee, what it tracks, and returns and worst drops on the same dates as VBR. Updated daily. The ETFs most like VBR are IJS, IWN and AVUV. IJS, IWN and AVUV hold small US companies that look cheap compared with their earnings and assets, like VBR. Written by [the Tactfolio research team](https://tactfolio.com/about/editorial-policy). Fund facts checked October 17, 2026. Prices through October 16, 2026. ## Key points - 8 funds can stand in for VBR: 3 of the same kind and 5 related funds. - VBR charges 0.05% a year (about $5 on $10,000). The cheapest alternative here, VB, charges 0.03%. - IJR moved most like VBR: a daily correlation of 0.98 over about the last five years. - Returns and drops for each pair use the same dates for both funds. ## VBR alternatives at a glance Each fund below can stand in for VBR, closest first. "Same kind" funds hold the same kind of stocks through a different index. "Related" funds make a different bet that often moves the same way. | ETF | How close | Yearly fee | Fee on $10,000 | Tracks | | --- | --- | --- | --- | --- | | **VBR** | This fund | 0.05% | $5 | Morningstar US Small Cap Value Index | | [IJS](https://tactfolio.com/etf/IJS.md) | Same kind of fund | 0.18% | $18 | S&P SmallCap 600 Value Index | | [IWN](https://tactfolio.com/etf/IWN.md) | Same kind of fund | 0.24% | $24 | Russell 2000 Value Index | | [AVUV](https://tactfolio.com/etf/AVUV.md) | Same kind of fund | 0.25% | $25 | No index | | [IJR](https://tactfolio.com/etf/IJR.md) | Related fund | 0.06% | $6 | S&P SmallCap 600 Index | | [VB](https://tactfolio.com/etf/VB.md) | Related fund | 0.03% | $3 | Morningstar US Small Cap Index | | [SCHA](https://tactfolio.com/etf/SCHA.md) | Related fund | 0.03% | $3 | Dow Jones U.S. Small-Cap Total Stock Market Index | | [IWM](https://tactfolio.com/etf/IWM.md) | Related fund | 0.19% | $19 | Russell 2000 Index | | [VTV](https://tactfolio.com/etf/VTV.md) | Related fund | 0.03% | $3 | Morningstar US Large Cap Value Index | Fees come from each fund company, checked on the dates shown on each fund's page. ## How VBR and its alternatives did over the same dates Each row measures the alternative and VBR on the days both traded, so neither gets a head start. Correlation shows how closely their daily moves matched over about the last five years. A value of 1 means they always moved together. | ETF | Moves with VBR | Per year | VBR per year | Worst drop | VBR worst drop | Since | | --- | --- | --- | --- | --- | --- | --- | | [IJS](https://tactfolio.com/etf/IJS.md) | 0.97 | 9.0% | 9.4% | −60.1% | −62.0% | January 2004 | | [IWN](https://tactfolio.com/etf/IWN.md) | 0.97 | 8.1% | 9.4% | −61.6% | −62.0% | January 2004 | | [AVUV](https://tactfolio.com/etf/AVUV.md) | 0.97 | 15.0% | 11.2% | −49.4% | −45.3% | September 2019 | | [IJR](https://tactfolio.com/etf/IJR.md) | 0.98 | 9.6% | 9.4% | −58.1% | −62.0% | January 2004 | | [VB](https://tactfolio.com/etf/VB.md) | 0.97 | 9.6% | 9.4% | −59.6% | −62.0% | January 2004 | | [SCHA](https://tactfolio.com/etf/SCHA.md) | 0.95 | 11.8% | 11.9% | −42.4% | −45.3% | November 2009 | | [IWM](https://tactfolio.com/etf/IWM.md) | 0.95 | 8.4% | 9.4% | −58.6% | −62.0% | January 2004 | | [VTV](https://tactfolio.com/etf/VTV.md) | 0.90 | 9.7% | 9.4% | −59.3% | −62.0% | January 2004 | Prices through October 16, 2026. Figures use daily closing prices adjusted for splits, with dividends reinvested. They do not include taxes or the cost of buying and selling. Past results do not tell you what will happen next. ## Each VBR alternative, compared ### IJS: iShares S&P Small-Cap 600 Value ETF IJS also holds small US companies that look cheap compared with their earnings and assets. It tracks the S&P SmallCap 600 Value Index, while VBR tracks the Morningstar US Small Cap Value Index. It charges 0.18% a year, about $18 on $10,000, against $5 for VBR. It held 480 stocks, against 820 for VBR. From January 2004 to October 2026, IJS returned about 9.0% a year and VBR returned about 9.4% a year. Over about the last five years they moved almost exactly together (correlation 0.97). Read the [IJS fund page](https://tactfolio.com/etf/IJS.md) for its returns by year and worst drop. ### IWN: iShares Russell 2000 Value ETF IWN also holds small US companies that look cheap compared with their earnings and assets. It tracks the Russell 2000 Value Index, while VBR tracks the Morningstar US Small Cap Value Index. It charges 0.24% a year, about $24 on $10,000, against $5 for VBR. It held 1,410 stocks, against 820 for VBR. From January 2004 to October 2026, IWN returned about 8.1% a year and VBR returned about 9.4% a year. Over about the last five years they moved almost exactly together (correlation 0.97). Read the [IWN fund page](https://tactfolio.com/etf/IWN.md) for its returns by year and worst drop. ### AVUV: Avantis U.S. Small Cap Value ETF AVUV also holds small US companies that look cheap compared with their earnings and assets. It tracks no index (its managers pick what it holds), while VBR tracks the Morningstar US Small Cap Value Index. It charges 0.25% a year, about $25 on $10,000, against $5 for VBR. It held 794 stocks, against 820 for VBR. From September 2019 to October 2026, AVUV returned about 15.0% a year and VBR returned about 11.2% a year. Over about the last five years they moved almost exactly together (correlation 0.97). Read the [AVUV fund page](https://tactfolio.com/etf/AVUV.md) for its returns by year and worst drop. ### IJR: iShares Core S&P Small-Cap ETF IJR is a looser match. It holds small US companies, while VBR holds small US companies that look cheap compared with their earnings and assets. It charges 0.06% a year, about $6 on $10,000, against $5 for VBR. It held 643 stocks, against 820 for VBR. From January 2004 to October 2026, IJR returned about 9.6% a year and VBR returned about 9.4% a year. Over about the last five years they moved almost exactly together (correlation 0.98). Read the [IJR fund page](https://tactfolio.com/etf/IJR.md) for its returns by year and worst drop. ### VB: Vanguard Morningstar Small-Cap ETF VB is a looser match. It holds small US companies, while VBR holds small US companies that look cheap compared with their earnings and assets. It charges 0.03% a year, about $3 on $10,000, against $5 for VBR. It held 1,301 stocks, against 820 for VBR. From January 2004 to October 2026, VB returned about 9.6% a year and VBR returned about 9.4% a year. Over about the last five years they moved almost exactly together (correlation 0.97). Read the [VB fund page](https://tactfolio.com/etf/VB.md) for its returns by year and worst drop. ### SCHA: Schwab U.S. Small-Cap ETF SCHA is a looser match. It holds small US companies, while VBR holds small US companies that look cheap compared with their earnings and assets. It charges 0.03% a year, about $3 on $10,000, against $5 for VBR. It held 1,721 stocks, against 820 for VBR. From November 2009 to October 2026, SCHA returned about 11.8% a year and VBR returned about 11.9% a year. Over about the last five years they moved almost exactly together (correlation 0.95). Read the [SCHA fund page](https://tactfolio.com/etf/SCHA.md) for its returns by year and worst drop. ### IWM: iShares Russell 2000 ETF IWM is a looser match. It holds small US companies, while VBR holds small US companies that look cheap compared with their earnings and assets. It charges 0.19% a year, about $19 on $10,000, against $5 for VBR. It held 1,983 stocks, against 820 for VBR. From January 2004 to October 2026, IWM returned about 8.4% a year and VBR returned about 9.4% a year. Over about the last five years they moved almost exactly together (correlation 0.95). Read the [IWM fund page](https://tactfolio.com/etf/IWM.md) for its returns by year and worst drop. ### VTV: Vanguard Morningstar Value ETF VTV is a looser match. It holds large US companies that look cheap compared with their earnings and assets, while VBR holds small US companies that look cheap compared with their earnings and assets. It charges 0.03% a year, about $3 on $10,000, against $5 for VBR. It held 298 stocks, against 820 for VBR. From January 2004 to October 2026, VTV returned about 9.7% a year and VBR returned about 9.4% a year. Over about the last five years they moved together on most days (correlation 0.90). Read the [VTV fund page](https://tactfolio.com/etf/VTV.md) for its returns by year and worst drop. ## VBR versions from other fund companies Some people keep all their funds with one company. Here is the closest fund to VBR from each other company on this page: - **iShares (BlackRock):** [IJS](https://tactfolio.com/etf/IJS.md), iShares S&P Small-Cap 600 Value ETF (same kind of fund, 0.18% a year) - **Avantis Investors (American Century):** [AVUV](https://tactfolio.com/etf/AVUV.md), Avantis U.S. Small Cap Value ETF (same kind of fund, 0.25% a year) - **Schwab:** [SCHA](https://tactfolio.com/etf/SCHA.md), Schwab U.S. Small-Cap ETF (related fund, 0.03% a year) Most brokers let you buy any ETF, whoever runs it. Mutual fund versions, such as a fund company's index mutual fund, are not listed here. ## How to choose between VBR and its alternatives - **What it tracks.** A fund on the same index holds the same stocks. A different index can mean different weights, more or fewer holdings, or a different mix. - **The fee.** The difference is often small. On $10,000, VBR costs about $5 a year. VB costs about $3. - **History.** An older fund has been through more bad markets, so you can see how far it fell. - **What you already own.** Two funds that move together add little variety. A fund with a low correlation behaves more on its own. ## Swapping VBR to harvest a tax loss Some investors sell a fund at a loss to lower their taxes, then buy a similar fund so they stay invested. This is called tax-loss harvesting. The IRS wash sale rule blocks the loss if you buy a "substantially identical" security within 30 days before or after the sale. The IRS has not said exactly when two funds count. Funds on the same index are more likely to. Funds on a different index, such as IJS, IWN or AVUV, are less likely to. Ask a tax professional before you rely on this. Read the IRS rules in [Publication 550](https://www.irs.gov/publications/p550). ## Test VBR and its alternatives in a backtest Tactfolio is a platform where you build rules-based investing strategies, backtest them on decades of real prices, share them, and run them automatically in your own Alpaca account. Open the [builder](https://tactfolio.com/builder), add VBR and IJS, and see how each would have done on the same dates, or how a mix of both would have done. ## The details Alternatives are picked from facts, not from returns. First come funds that track the same index as VBR. Then come funds that hold the same kind of stocks through another index. Last come funds from a close category that make a different bet. Leveraged funds are only listed as alternatives to other leveraged funds. Within each group, the funds whose daily returns moved most like VBR over about the last five years come first. Returns and worst drops use Tactfolio's stored daily prices, adjusted for splits, with dividends reinvested. Each alternative is measured with VBR only on days both traded. Read [what a backtest simulates](https://tactfolio.com/docs/backtests.md) for more on these measures. ## Research and test it - [S&P 500 index](https://tactfolio.com/learn/sp500-index): The S&P 500 tracks about 500 large US companies. Learn how stocks get in, how the index is weighted, how to invest in it, and how far it has fallen before. - [What is an ETF](https://tactfolio.com/learn/what-is-an-etf): An ETF is a fund that trades like a stock. Learn how ETFs work, what they cost, the main types, and the risks, with SEC sources. - [ETF screener](https://tactfolio.com/screener.md): A free ETF screener for 162 US-listed funds. Filter by type, issuer and fee, sort by returns or worst drop, and compare funds side by side. - [ETF expense ratio](https://tactfolio.com/learn/etf-expense-ratio): What an ETF expense ratio is, how the fund charges it, and how 0.03% vs 1% adds up over 10 and 30 years, with real fund examples. - [Backtest a portfolio](https://tactfolio.com/trading-tools/backtest-portfolio): Backtest a portfolio of US stocks and ETFs. Enter tickers and shares, pick when to rebalance, and get the results with a link to share. - [Backtesting](https://tactfolio.com/backtesting): Free backtesting software for stocks, ETFs, and crypto perps. ## Common questions ### What ETF is most similar to VBR? IJS is the closest. IJS also holds small US companies that look cheap compared with their earnings and assets. It tracks the S&P SmallCap 600 Value Index, while VBR tracks the Morningstar US Small Cap Value Index. Over about the last five years they moved almost exactly together. ### Is there a cheaper alternative to VBR? Yes. VB charges 0.03% a year, SCHA charges 0.03% a year and VTV charges 0.03% a year, against 0.05% for VBR. On $10,000 that is about $3 a year instead of $5. ### Is VBR or IJS better? Neither is better for everyone. From January 2004 to October 2026, VBR returned about 9.4% a year and IJS returned about 9.0% a year. VBR charges 0.05% a year and IJS charges 0.18%. Past returns do not tell you what comes next. ### What if I had put $10,000 in VBR 10 years ago? It would have grown to about $26,848 by October 16, 2026, with dividends reinvested. That is about 10.4% a year. Past returns do not tell you what comes next. ## Sources - [Vanguard: Vanguard Morningstar Small-Cap Value ETF fund page](https://investor.vanguard.com/investment-products/etfs/profile/vbr) - [iShares (BlackRock): iShares S&P Small-Cap 600 Value ETF fund page](https://www.ishares.com/us/products/239775/ishares-s-p-small-cap-600-value-etf) - [iShares (BlackRock): iShares Russell 2000 Value ETF fund page](https://www.ishares.com/us/products/239712/ishares-russell-2000-value-etf) - [Avantis Investors (American Century): Avantis U.S. Small Cap Value ETF fund page](https://www.avantisinvestors.com/avantis-investments/avantis-us-small-cap-value-etf/) - [iShares (BlackRock): iShares Core S&P Small-Cap ETF fund page](https://www.ishares.com/us/products/239774/ishares-core-s-p-small-cap-etf) - [Vanguard: Vanguard Morningstar Small-Cap ETF fund page](https://investor.vanguard.com/investment-products/etfs/profile/vb) - [Schwab: Schwab U.S. Small-Cap ETF fund page](https://www.sec.gov/Archives/edgar/data/1454889/000088454626000252/c497k.htm) - [iShares (BlackRock): iShares Russell 2000 ETF fund page](https://www.ishares.com/us/products/239710/ishares-russell-2000-etf) - [Vanguard: Vanguard Morningstar Value ETF fund page](https://investor.vanguard.com/investment-products/etfs/profile/vtv) - [IRS Publication 550: wash sales](https://www.irs.gov/publications/p550) > Not financial advice. Tactfolio is a research and automation tool. It is not a broker or a financial adviser. This page is for education only. Backtests are hypothetical. They show how rules would have done on past prices, not how they will do. All investing involves risk, including losing the money you put in.