At a glance
IJJ charges 0.18% a year, above the 0.11% average of the 8 funds most like it (the 8th cheapest of 9). It has $8.73B in assets, the 4th largest of that group; it paid 1.64% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +12.0% with distributions reinvested (S&P 500: +11.5%), 7th of those 9 funds; over three years it returned +17.8% a year. At its worst it fell 45.6% in the 2020 crash (S&P 500: 33.7%) and 19.1% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 8 months and 4 months after the lows. Its ten largest positions make up 10.1% of the fund, out of 299 in all.
The short version
The iShares S&P Mid-Cap 400 Value ETF (IJJ) is a BlackRock index fund. It tracks the S&P MidCap 400 Value Index, which picks the mid-sized U.S. companies in the S&P MidCap 400 that look cheapest compared with their book value, earnings and sales. Launched in 2000, it is the largest fund following this index. At 0.18% a year, it costs more than Vanguard's IVOV (0.10%) and SPDR's MDYV (0.15%), which follow the same index.
Price history
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IJJ +12.0% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| IJJ official prospectus, to Dec 31, 2025 | — | +7.39% | — | +10.82% | +10.47% | — |
| S And P Total Market Index index, same period | — | +17.05% | — | +13.07% | +14.22% | — |
| IJJ price data to Oct 27, 2026 | +10.8% | +12.0% | +17.8% | +8.2% | +10.3% | +8.8% |
- Over the year to Oct 27, 2026, IJJ returned +12.0%, 7th of 9 among similar funds.
- Its 5-year annualized return was +8.2% and its 10-year +10.3%.
- In the 2020 COVID crash it fell 45.6% and regained its old high 8.1 months after the low.
- Its worst full calendar year was 2008 (-35.9%); its best was 2013 (+32.9%).
- The deepest fall in its price history was 58.7% (Jun 4, 2007 to Mar 9, 2009), recovered by Apr 1, 2011.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +10.8% | — |
| 2025 | +7.3% | +7.39% |
| 2024 | +11.7% | +11.51% |
| 2023 | +15.2% | +15.25% |
| 2022 | -7.1% | -7.09% |
| 2021 | +30.4% | +30.36% |
| 2020 | +3.5% | +3.53% |
| 2019 | +25.7% | +25.81% |
| 2018 | -12.0% | -12.07% |
| 2017 | +12.1% | +12.06% |
| 2016 | +26.2% | +26.20% |
| 2015 | -6.7% | — |
| 2014 | +11.4% | — |
| 2013 | +32.9% | — |
| 2012 | +17.1% | — |
| 2011 | -3.5% | — |
| 2010 | +21.5% | — |
| 2009 | +32.7% | — |
| 2008 | -35.9% | — |
| 2007 | +1.2% | — |
| 2006 | +13.5% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 57.3% over that stretch · deepest drop along the way 57.3%, back to its old high 23 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 45.2% over that stretch · deepest drop along the way 45.6%, back to its old high 8.1 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 16.5% over that stretch · deepest drop along the way 19.1%, back to its old high 3.9 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.5400 | |
| 2025 | $2.3600 | +4.0% |
| 2024 | $2.2700 | +18.8% |
| 2023 | $1.9100 | -4.0% |
| 2022 | $1.9900 | +11.2% |
| 2021 | $1.7900 | +16.6% |
| 2020 | $1.5350 | +5.9% |
| 2019 | $1.4500 | +4.3% |
| 2018 | $1.3900 | +13.9% |
| 2017 | $1.2200 | +0.8% |
| 2016 | $1.2100 | +12.6% |
| 2015 | $1.0750 | +29.5% |
| 2014 | $0.8302 | +93.5% |
| 2013 | $0.4290 | +2.3% |
| 2012 | $0.4195 | +24.1% |
| 2011 | $0.3380 | +9.4% |
| 2010 | $0.3090 | -8.6% |
| 2009 | $0.3380 | -23.7% |
| 2008 | $0.4430 | +27.7% |
| 2007 | $0.3470 | -2.3% |
| 2006 | $0.3550 |
What's inside
As of Jun 30, 2026, the fund held 299 securities; the ten largest made up 10.07% of assets. It also reported 3.07% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.
| Holding | Weight | |
|---|---|---|
| US Foods Holding Corp. | 1.29% | |
| TD SYNNEX Corp. | 1.15% | |
| Reliance, Inc. | 1.10% | |
| Performance Food Group Co. | 1.01% | |
| WESCO International, Inc. | 0.97% | |
| Entegris, Inc. | 0.95% | |
| Annaly Capital Management, Inc. | 0.94% | |
| Regal Rexnord Corp. | 0.91% | |
| Toll Brothers, Inc. | 0.90% | |
| Pinnacle Financial Partners, Inc. | 0.87% | |
| Aramark | 0.86% | |
| Watsco, Inc. | 0.84% | |
| Ovintiv, Inc. | 0.83% | |
| Permian Resources Corp. | 0.83% | |
| Jones Lang LaSalle, Inc. | 0.83% |
By country
United States 95.91%Bermuda 1.51%Cayman Islands 0.62%Netherlands 0.57%United Kingdom 0.4%By asset type
Stocks 99.8%What changed recently
- Over the three months to Jun 30, 2026, investors withdrew a net $155.3M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +7.59%, -0.13%, +4.09%.
How it works
IJJ follows the S&P MidCap 400 Value Index, which S&P Dow Jones Indices builds from the S&P MidCap 400. As of March 31, 2026, a company needed a market value between $1.6 billion and $27.9 billion to join that parent index. S&P then scores each stock on three value measures: book value to price, earnings to price and sales to price. The stocks with the strongest value scores make up the value index. As of March 31, 2026, they made up about 49% of the parent index's market value.
The index is rebalanced every quarter. No single company may exceed 23% of the index, and companies weighing more than 4.8% may not add up to more than 50%. In practice, the fund is spread widely. As of June 30, 2026, it held 299 stocks. The largest, US Foods, was about 1.3% of assets, and the top 10 together made up just over 10%.
BlackRock Fund Advisors uses "representative sampling." This means the fund holds a sample of stocks chosen to match the index's overall profile, so it may not own every index stock. It must keep at least 80% of its assets in index stocks. It may also use derivatives such as S&P MidCap 400 futures, hold cash, and lend up to one-third of its assets to other investors. Portfolio turnover was 38%.
What it really costs
- IJJ charges 0.18% a year, versus an average of 0.11% for the similar funds below (8th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $18 in the first year and $230 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| IJJ | $18 | $58 | $101 | $230 |
In a retirement portfolio
It adds mid-sized U.S. companies with a value tilt, which large-cap core funds hold little of, but it is still an all-stock fund that can fall hard.
IJJ can broaden a portfolio built around large companies, but it does not protect against falling markets. From October 2007 to March 2009 it lost 57.3%, and its worst calendar year was 2008 (−35.9%). It took until February 2011 to recover. In the 2020 COVID crash it fell 45.6% in about a month, then recovered by November 2020. In 2022 it fell 19.1% and recovered by January 2023. Anyone who had to sell shares near those lows to pay bills would have locked in steep losses.
Income is modest: the trailing 12-month yield was 1.64% as of October 27, 2026, paid quarterly. The expense ratio is 0.18%, which in the SEC's standard example comes to $230 over 10 years on $10,000. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want mid-sized U.S. companies priced cheaply on book value, earnings and sales, spread across 299 stocks with none above about 1.3%.
- Those who prefer a large, long-running fund: launched in 2000, it had $8.7 billion in net assets as of June 30, 2026.
- Holders of large-cap index funds looking to add mid-cap value exposure, which made up about 49% of the S&P MidCap 400's value as of March 31, 2026.
Look elsewhere if
- Cost-focused investors: Vanguard's IVOV tracks the same index for 0.10% and SPDR's MDYV for 0.15%, compared with IJJ's 0.18%.
- People who need meaningful income from a fund; IJJ's trailing yield was 1.64% as of October 27, 2026.
- Anyone who may need to sell in a downturn: the fund lost 57.3% from 2007 to 2009 and did not recover until February 2011.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| IJJ this fund | — | 0.18% | $8.73B | +12.0% | +17.8% |
| MDYV SPDR S&P 400 Mid Cap Value ETF | 100% | 0.15% | $2.68B | +12.1% | +17.8% |
| IVOV Vanguard S&P Mid-Cap 400 Value ETF | 93% | 0.1% | $1.49B | +12.2% | +17.9% |
| SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 63% | 0.03% | $18.39B | +15.3% | +16.6% |
| IJH iShares Core S&P Mid-Cap ETF | 63% | 0.05% | $124.33B | +15.3% | +16.6% |
| MDY SPDR S&P Midcap 400 ETF Trust | 62% | 0.24% | $28.05B | +14.9% | +16.3% |
| QVMM Invesco S&P MidCap 400 QVM Multi-factor ETF | 62% | 0.15% | $426.1M | +12.5% | +18.3% |
| IVOO Vanguard S&P Mid-Cap 400 ETF | 61% | 0.07% | $5.87B | +12.0% | +18.0% |
Questions investors ask
What's the difference between IJJ and IVOV?
Mainly cost and size. Both track the S&P MidCap 400 Value Index, and their holdings overlapped by 93%. IVOV charges 0.10% a year, compared with 0.18% for IJJ. As of October 27, 2026, their returns were nearly identical: 12.2% vs 12.0% over one year, and 17.9% vs 17.8% a year over three years. IJJ is larger, at $8.7 billion as of June 30, 2026, against IVOV's $1.5 billion as of August 31, 2026. SPDR's MDYV also tracks this index, for 0.15%.
Does IJJ pay dividends?
Yes. IJJ pays dividends quarterly. Over the 12 months to October 27, 2026, it paid $2.36 per share, a yield of 1.64%. The income comes from dividends paid by the fund's mid-sized U.S. companies. The amount changes as those companies raise, cut or suspend their payouts. Because the yield is modest, the fund is mostly a way to own stocks for long-term growth rather than a steady source of income.
What are IJJ's top holdings?
As of June 30, 2026, IJJ's largest holdings were US Foods (1.3% of assets), TD SYNNEX (1.1%), Reliance (1.1%), Performance Food Group (1.0%) and WESCO International (1.0%). Others in the top group included Entegris, Annaly Capital Management, Regal Rexnord, Toll Brothers and Pinnacle Financial Partners. The fund held 299 stocks, and the top 10 made up only about 10% of assets. That means no single company drives results.
How has IJJ performed over 10 years?
IJJ returned an average of 10.47% a year over the 10 years to December 31, 2025, according to its prospectus. Its 5-year average was 10.82%. Both trailed the S&P Total Market Index, which returned 14.22% and 13.07% a year over the same periods. Based on price data, the fund returned 12% over the year to October 27, 2026. Its weakest recent calendar year was 2018, at −12.07%.
Is IJJ good for retirement?
IJJ can play a supporting role in a retirement portfolio, but it is a volatile stock fund. It adds mid-sized value companies and costs 0.18% a year. However, it lost 57.3% during the 2008 financial crisis and 45.6% in early 2020. Its yield was 1.64% as of October 27, 2026. Someone who may need to sell shares during a downturn may want to weigh it alongside steadier holdings. They may also want to compare it with cheaper funds that track the same index.