AIRR vs. IYW
AIRR (First Trust RBA American Industrial Renaissance ETF) and IYW (iShares U.S. Technology ETF) are both exchange-traded funds - AIRR is a Building & Construction fund tracking the Richard Bernstein Advisors American Industrial Renaissance Index, while IYW is a Technology Equities fund tracking the Russell 1000 Technology RIC 22.5/45 Capped Index. Both are passively managed. Over the past 10 years, AIRR returned 22.05%/yr vs 25.63%/yr for IYW. A 0.56 correlation means they provide meaningful diversification when combined. AIRR charges 0.69%/yr vs 0.38%/yr for IYW.
Performance
AIRR vs. IYW - Performance Comparison
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Returns By Period
In the year-to-date period, AIRR achieves a 31.74% return, which is significantly higher than IYW's 22.66% return. Over the past 10 years, AIRR has underperformed IYW with an annualized return of 22.05%, while IYW has yielded a comparatively higher 25.63% annualized return.
AIRR
- 1D
- 0.83%
- 1M
- -0.02%
- YTD
- 31.74%
- 6M
- 28.77%
- 1Y
- 65.25%
- 3Y*
- 35.29%
- 5Y*
- 25.46%
- 10Y*
- 22.05%
IYW
- 1D
- 0.61%
- 1M
- 1.73%
- YTD
- 22.66%
- 6M
- 23.40%
- 1Y
- 47.94%
- 3Y*
- 32.06%
- 5Y*
- 21.19%
- 10Y*
- 25.63%
AIRR vs. IYW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AIRR First Trust RBA American Industrial Renaissance ETF | 31.74% | 27.92% | 33.45% | 31.43% | -2.08% | 33.01% | 17.17% | 33.97% | -20.57% | 16.28% |
IYW iShares U.S. Technology ETF | 22.66% | 25.38% | 30.25% | 65.44% | -34.83% | 35.44% | 47.45% | 46.64% | -0.93% | 36.60% |
Correlation
The correlation between AIRR and IYW is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2014 | 0.56 |
The correlation between AIRR and IYW has been stable across timeframes, ranging from 0.54 to 0.60 - a consistent structural relationship.
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Return for Risk
AIRR vs. IYW — Risk / Return Rank
AIRR
IYW
AIRR vs. IYW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust RBA American Industrial Renaissance ETF (AIRR) and iShares U.S. Technology ETF (IYW). 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.
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.
| AIRR | IYW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.38 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 5.01 | 2.70 | +2.31 |
| Martin ratioReturn relative to average drawdown | 18.33 | 8.68 | +9.65 |
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Drawdowns
AIRR vs. IYW - Drawdown Comparison
The maximum AIRR drawdown since its inception was -42.37%, smaller than the maximum IYW drawdown of -81.90%. Use the drawdown chart below to compare losses from any high point for AIRR and IYW.
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Drawdown Indicators
| AIRR | IYW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.37% | -81.90% | +39.53% |
Max Drawdown (1Y)Largest decline over 1 year | -13.09% | -17.81% | +4.72% |
Max Drawdown (3Y)Largest decline over 3 years | -27.95% | -26.47% | -1.48% |
Max Drawdown (5Y)Largest decline over 5 years | -27.95% | -39.44% | +11.49% |
Max Drawdown (10Y)Largest decline over 10 years | -42.37% | -39.44% | -2.93% |
Current DrawdownCurrent decline from peak | -1.89% | -5.81% | +3.92% |
Average DrawdownAverage peak-to-trough decline | -7.48% | -34.62% | +27.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.57% | 5.54% | -1.97% |
Volatility
AIRR vs. IYW - Volatility Comparison
First Trust RBA American Industrial Renaissance ETF (AIRR) and iShares U.S. Technology ETF (IYW) have volatilities of 9.32% and 9.41%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AIRR | IYW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.32% | 9.41% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 20.81% | 17.67% | +3.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.19% | 21.47% | +4.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.45% | 26.07% | -0.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.36% | 25.20% | +1.16% |
AIRR vs. IYW - Expense Ratio Comparison
AIRR has a 0.69% expense ratio, which is higher than IYW's 0.38% expense ratio.
Dividends
AIRR vs. IYW - Dividend Comparison
AIRR's dividend yield for the trailing twelve months is around 0.13%, more than IYW's 0.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AIRR First Trust RBA American Industrial Renaissance ETF | 0.13% | 0.19% | 0.18% | 0.23% | 0.12% | 0.05% | 0.10% | 0.20% | 0.43% | 0.30% | 0.08% | 0.47% |
IYW iShares U.S. Technology ETF | 0.11% | 0.14% | 0.21% | 0.34% | 0.50% | 0.31% | 0.56% | 0.72% | 0.92% | 0.82% | 1.14% | 1.12% |
Frequently Asked Questions
AIRR and IYW have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IYW has higher volatility (9.41%) compared to AIRR (9.32%). In terms of maximum drawdown, AIRR dropped -42.37% vs IYW's -81.90%.
On 10-year performance, IYW leads with 25.63% vs 22.05% for AIRR. On fees, IYW is cheaper at 0.38% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IYW has performed better with a 25.63% return vs 22.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYW is cheaper with a 0.38% expense ratio, compared with 0.69% for AIRR.
AIRR has the higher dividend yield at 0.13%, compared with 0.11% for IYW.
AIRR is categorized as Building & Construction, while IYW is Technology Equities. AIRR tracks Richard Bernstein Advisors American Industrial Renaissance Index, while IYW tracks Russell 1000 Technology RIC 22.5/45 Capped Index. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.69% for AIRR and 0.38% for IYW.
AIRR currently has the higher Sharpe Ratio (2.50 vs 2.24), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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