^GSPC vs. IWM

Last updated Apr 4, 2026

Compare and contrast key facts about S&P 500 Index (^GSPC) and iShares Russell 2000 ETF (IWM).

IWM is a passively managed fund by iShares that tracks the performance of the Russell 2000 Index. It was launched on May 22, 2000.

Performance

^GSPC vs. IWM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in S&P 500 Index (^GSPC) and iShares Russell 2000 ETF (IWM). The values are adjusted to include any dividend payments, if applicable.

^GSPC vs. IWM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
^GSPC S&P 500 Index	-3.84%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%
IWM iShares Russell 2000 ETF	2.27%	12.66%	11.38%	16.83%	-20.48%	14.54%	20.03%	25.39%	-11.12%	14.58%

Returns By Period

In the year-to-date period, ^GSPC achieves a -3.84% return, which is significantly lower than IWM's 2.27% return. Over the past 10 years, ^GSPC has outperformed IWM with an annualized return of 12.29%, while IWM has yielded a comparatively lower 10.00% annualized return.

^GSPC

• 1D: 0.11%
• 1M: -4.18%
• YTD: -3.84%
• 6M: -1.98%
• 1Y: 21.98%
• 3Y*: 16.86%
• 5Y*: 10.37%
• 10Y*: 12.29%

IWM

• 1D: 0.69%
• 1M: -3.83%
• YTD: 2.27%
• 6M: 2.75%
• 1Y: 33.93%
• 3Y*: 13.42%
• 5Y*: 3.61%
• 10Y*: 10.00%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

^GSPC vs. IWM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

^GSPC

^GSPC Risk / Return Rank: 62
^GSPC Sharpe Ratio Rank: 59
^GSPC Sortino Ratio Rank: 61
^GSPC Omega Ratio Rank: 64
^GSPC Calmar Ratio Rank: 54
^GSPC Martin Ratio Rank: 71

IWM

IWM Risk / Return Rank: 58
IWM Sharpe Ratio Rank: 58
IWM Sortino Ratio Rank: 60
IWM Omega Ratio Rank: 52
IWM Calmar Ratio Rank: 62
IWM Martin Ratio Rank: 58

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

^GSPC vs. IWM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for S&P 500 Index (^GSPC) and iShares Russell 2000 ETF (IWM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	^GSPC	IWM	Difference
Sharpe ratio Return per unit of total volatility	0.88	1.10	-0.22
Sortino ratio Return per unit of downside risk	1.37	1.64	-0.28
Omega ratio Gain probability vs. loss probability	1.21	1.21	0.00
Calmar ratio Return relative to maximum drawdown	1.39	1.99	-0.60
Martin ratio Return relative to average drawdown	6.43	7.27	-0.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^GSPC vs. IWM - Sharpe Ratio Comparison

The current ^GSPC Sharpe Ratio is 0.88, which is comparable to the IWM Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of ^GSPC and IWM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	^GSPC	IWM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.88	1.10	-0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	0.16	+0.46
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	0.44	+0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.34	+0.11

Correlation

The correlation between ^GSPC and IWM is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

^GSPC vs. IWM - Drawdown Comparison

The maximum ^GSPC drawdown since its inception was -56.78%, roughly equal to the maximum IWM drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for ^GSPC and IWM.

Drawdown Indicators

	^GSPC	IWM	Difference
Max Drawdown Largest peak-to-trough decline	-56.78%	-59.05%	+2.27%
Max Drawdown (1Y) Largest decline over 1 year	-9.10%	-11.03%	+1.93%
Max Drawdown (5Y) Largest decline over 5 years	-25.43%	-31.91%	+6.48%
Max Drawdown (10Y) Largest decline over 10 years	-33.92%	-41.13%	+7.21%
Current Drawdown Current decline from peak	-5.67%	-6.69%	+1.02%
Average Drawdown Average peak-to-trough decline	-10.75%	-10.83%	+0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.62%	3.76%	-1.14%

Volatility

^GSPC vs. IWM - Volatility Comparison

The current volatility for S&P 500 Index (^GSPC) is 5.29%, while iShares Russell 2000 ETF (IWM) has a volatility of 7.32%. This indicates that ^GSPC experiences smaller price fluctuations and is considered to be less risky than IWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	^GSPC	IWM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.29%	7.32%	-2.03%
Volatility (6M) Calculated over the trailing 6-month period	9.55%	14.50%	-4.95%
Volatility (1Y) Calculated over the trailing 1-year period	18.33%	23.19%	-4.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.90%	22.53%	-5.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.04%	22.98%	-4.94%