- Issuer
- iShares
- Inception Date
- Mar 14, 2024
- Region
- North America (U.S.)
- Category
- Derivative Income
- Leveraged
- 1x (No leverage)
- Index Tracked
- Cboe FTSE Russell IWM 2% OTM BuyWrite Index
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Small-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $52M
Share Price Chart
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Performance
IWMW Performance Chart
iShares Russell 2000 BuyWrite ETF (IWMW) is up 12.3% since the beginning of the year. IWMW is currently trading at $40 per share.
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Returns By Period
iShares Russell 2000 BuyWrite ETF (IWMW) has returned 12.27% so far this year and 27.06% over the past 12 months.
iShares Russell 2000 BuyWrite ETF
- 1D
- 0.51%
- 1M
- 4.71%
- YTD
- 12.27%
- 6M
- 10.86%
- 1Y
- 27.06%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
IWMW Monthly Returns History
Based on dividend-adjusted daily data since Mar 15, 2024, IWMW's average daily return is +0.05%, while the average monthly return is +0.95%. At this rate, an investment would double in approximately 6.1 years.
Historically, 68% of months were positive and 32% were negative. The best month was Nov 2024 with a return of +9.3%, while the worst month was Mar 2025 at -5.8%. The longest winning streak lasted 6 consecutive months, and the longest losing streak was 3 months.
On a daily basis, IWMW closed higher 57% of trading days. The best single day was Apr 9, 2025 with a return of +9.4%, while the worst single day was Apr 3, 2025 at -6.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.46% | 2.18% | -3.58% | 5.25% | 3.21% | 3.40% | 12.27% | ||||||
| 2025 | 3.52% | -3.06% | -5.77% | -3.30% | 1.58% | 4.58% | 0.73% | 5.86% | 2.32% | 3.20% | -2.02% | 0.61% | 7.82% |
| 2024 | 2.92% | -4.95% | 1.65% | -0.73% | 4.20% | -1.87% | 0.96% | 0.10% | 9.27% | -5.03% | 5.85% |
Benchmark Metrics
iShares Russell 2000 BuyWrite ETF has an annualized alpha of -2.98%, beta of 0.86, and R2 of 0.73 versus S&P 500 Index. Calculated based on daily prices since March 15, 2024.
- This ETF participated in 87.21% of S&P 500 Index downside but only 69.90% of its upside - more exposed to losses than it benefited from rallies.
- This ETF had an annualized alpha of -2.98% versus S&P 500 Index - delivering less than market exposure alone would predict.
- With beta of 0.86 and R2 of 0.73, this ETF moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- -2.98%
- Beta
- 0.86
- R²
- 0.73
- Upside Capture
- 69.90%
- Downside Capture
- 87.21%
Expense Ratio
IWMW has an expense ratio of 0.39%, placing it in the medium range.
Return for Risk
Risk / Return Rank
IWMW ranks 73 for risk / return — better than 73% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for iShares Russell 2000 BuyWrite ETF (IWMW) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IWMW | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.37 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.91 | 2.78 | +1.13 |
| Martin ratioReturn relative to average drawdown | 13.51 | 12.44 | +1.07 |
Dividends
Dividend History
iShares Russell 2000 BuyWrite ETF provided a 21.64% dividend yield over the last twelve months, with an annual payout of $8.58 per share.
| Period | TTM | 2025 | 2024 |
|---|---|---|---|
| Dividend | $8.58 | $8.13 | $7.81 |
Dividend yield | 21.64% | 20.98% | 17.73% |
Monthly Dividends
The table displays the monthly dividend distributions for iShares Russell 2000 BuyWrite ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.72 | $0.69 | $0.75 | $0.62 | $0.78 | $3.56 | ||||||
| 2025 | $0.00 | $0.74 | $0.38 | $0.63 | $0.72 | $0.64 | $0.86 | $0.85 | $0.54 | $0.82 | $0.71 | $1.25 | $8.13 |
| 2024 | $0.62 | $0.78 | $0.51 | $0.63 | $0.52 | $0.93 | $0.92 | $0.84 | $2.05 | $7.81 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the iShares Russell 2000 BuyWrite ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the iShares Russell 2000 BuyWrite ETF was 21.82%, occurring on Apr 8, 2025. Recovery took 112 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 selloff2025 | -21.82%Apr 2025 | 4mo 4d | 5mo 13d | 9mo 17dDec 2024 - Sep 2025 |
2024 pullback2024 | -8.36%Aug 2024 | 4mo 6d | 2mo 7d | 6mo 13dApr 2024 - Oct 2024 |
2026 pullback2026 | -6.94%Mar 2026 | 1mo 1d | 1mo 1d | 2mo 2dFeb 2026 - Apr 2026 |
2025 pullback2025 | -6.88%Nov 2025 | 23d | 1mo 20d | 2mo 13dOct 2025 - Jan 2026 |
2026 pullback2026 | -2.97%Feb 2026 | 13d | 4d | 17dJan 2026 - Feb 2026 |
Drawdown Indicators
| IWMW | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.82% | -56.78% | +34.96% |
Max Drawdown (1Y)Largest decline over 1 year | -6.94% | -9.10% | +2.16% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.80% | +1.80% |
Average DrawdownAverage peak-to-trough decline | -3.77% | -10.71% | +6.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.01% | 2.03% | -0.02% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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