Overview
The value half of the S&P 600 — around 513 profitable small caps trading cheap on book, earnings and sales.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| MLI | Mueller Industries | 1.1% |
| JXN | Jackson Financial | 1.0% |
| CMA | Comerica Inc. | 0.9% |
| AL | Air Lease Corp. | 0.8% |
| SKYW | SkyWest Inc. | 0.8% |
| MOG.A | Moog Inc. | 0.7% |
| AWI | Armstrong World Ind. | 0.7% |
| GATX | GATX Corp. | 0.6% |
| ZION | Zions Bancorp | 0.6% |
| THC | Tenet Healthcare | 0.6% |
Fund Details
Investment Thesis
IJS stacks two screens the academic literature loves: the S&P 600's profitability requirement plus a value sort — cheap small caps that actually make money. That combination historically outran both the plain small-cap index and unprofitable deep-value rivals, and the +24% trailing year extended the small-value revival. A quarter-century of live history makes it the veteran vehicle for the trade AVUV and DFAT run actively.
Who It's For
Small-cap value investors who want the index-fund version with a built-in earnings filter and 25 years of track record. The passive benchmark the active factor funds measure themselves against.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $65.96 | -- |
| 2017 | $69.26 | +5.0% |
| 2018 | $60.25 | -13.0% |
| 2019 | $72.91 | +21.0% |
| 2020 | $74.36 | +2.0% |
| 2021 | $96.67 | +30.0% |
| 2022 | $85.07 | -12.0% |
| 2023 | $97.83 | +15.0% |
| 2024 | $103.70 | +6.0% |
| 2025 | $112.00 | +8.0% |
| Year | Yield |
|---|---|
| 2016 | 1.50% |
| 2017 | 1.40% |
| 2018 | 1.70% |
| 2019 | 1.60% |
| 2020 | 1.40% |
| 2021 | 1.10% |
| 2022 | 1.50% |
| 2023 | 1.60% |
| 2024 | 1.50% |
| 2025 | 1.40% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $4B | -- |
| 2017 | $5B | +25.0% |
| 2018 | $5.5B | +10.0% |
| 2019 | $6B | +9.1% |
| 2020 | $5.5B | -8.3% |
| 2021 | $8B | +45.5% |
| 2022 | $7B | -12.5% |
| 2023 | $7B | +0.0% |
| 2024 | $7.5B | +7.1% |
| 2025 | $7.5B | +0.0% |
Price history from exchange data. Dividend yields from reported distributions; some earlier years are derived from total-return vs price-return data or are ETFHub estimates. AUM history is an ETFHub estimate modelled from current assets and annual returns (fund flows not reflected) and may differ from official fund records. Data as of October 2026.
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