ARGT vs. IWY

Last updated Jun 24, 2026

ARGT (Global X MSCI Argentina ETF) and IWY (iShares Russell Top 200 Growth ETF) are both exchange-traded funds - ARGT is a Latin America Equities fund tracking the MSCI All Argentina 25/50 Index, while IWY is a Large Cap Growth Equities fund tracking the Russell Top 200 Growth Index. Both are passively managed. Over the past 10 years, ARGT returned 17.15%/yr vs 19.34%/yr for IWY. A 0.53 correlation means they provide meaningful diversification when combined. ARGT charges 0.59%/yr vs 0.20%/yr for IWY.

Performance

ARGT vs. IWY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X MSCI Argentina ETF (ARGT) and iShares Russell Top 200 Growth ETF (IWY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARGT achieves a 1.25% return, which is significantly lower than IWY's 1.47% return. Over the past 10 years, ARGT has underperformed IWY with an annualized return of 17.15%, while IWY has yielded a comparatively higher 19.34% annualized return.

ARGT

• 1D: -2.31%
• 1M: 2.38%
• YTD: 1.25%
• 6M: 1.33%
• 1Y: 10.94%
• 3Y*: 28.12%
• 5Y*: 25.41%
• 10Y*: 17.15%

IWY

• 1D: -1.59%
• 1M: -4.29%
• YTD: 1.47%
• 6M: 0.28%
• 1Y: 19.00%
• 3Y*: 22.32%
• 5Y*: 14.18%
• 10Y*: 19.34%

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

ARGT vs. IWY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ARGT Global X MSCI Argentina ETF	1.25%	11.51%	63.46%	53.64%	11.80%	3.83%	14.58%	14.50%	-32.62%	53.87%
IWY iShares Russell Top 200 Growth ETF	1.47%	18.19%	34.89%	46.49%	-29.91%	31.05%	39.01%	36.20%	-0.72%	31.69%

Correlation

The correlation between ARGT and IWY is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (10Y) Calculated over the trailing 10-year period	0.53
Correlation (All Time) Calculated using the full available price history since Mar 3, 2011	0.53

The correlation between ARGT and IWY has been stable across timeframes, ranging from 0.44 to 0.53 - a consistent structural relationship.

ARGT vs. IWY - Sectors Allocation Comparison

Sectors	ARGT	IWY
Consumer Cyclical	23.4%	10.5%
Energy	22.5%	0.0%
Financial Services	16.0%	5.3%
Basic Materials	13.1%	0.3%
Industrials	8.2%	3.3%
Consumer Defensive	6.7%	2.8%
Utilities	5.3%	1.1%
Communication Services	3.4%	12.6%
Real Estate	1.4%	0.3%
Healthcare	-	6.7%
Technology	-	56.9%

Return for Risk

ARGT vs. IWY — Risk / Return Rank

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

ARGT

ARGT Risk / Return Rank: 14
ARGT Sharpe Ratio Rank: 13
ARGT Sortino Ratio Rank: 15
ARGT Omega Ratio Rank: 15
ARGT Calmar Ratio Rank: 15
ARGT Martin Ratio Rank: 14

IWY

IWY Risk / Return Rank: 30
IWY Sharpe Ratio Rank: 34
IWY Sortino Ratio Rank: 32
IWY Omega Ratio Rank: 32
IWY Calmar Ratio Rank: 24
IWY Martin Ratio Rank: 28

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.

ARGT vs. IWY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MSCI Argentina ETF (ARGT) and iShares Russell Top 200 Growth ETF (IWY). 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.

	ARGT	IWY	Difference
Sharpe ratio: Return per unit of total volatility	0.29	1.17	-0.88
Sortino ratio: Return per unit of downside risk	0.76	1.65	-0.89
Omega ratio: Gain probability vs. loss probability	1.09	1.21	-0.12
Calmar ratio: Return relative to maximum drawdown	0.50	1.15	-0.65
Martin ratio: Return relative to average drawdown	1.10	3.65	-2.55

ARGT vs. IWY - Sharpe Ratio Comparison

The current ARGT Sharpe Ratio is 0.29, which is lower than the IWY Sharpe Ratio of 1.17. The chart below compares the historical Sharpe Ratios of ARGT and IWY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ARGT vs. IWY - Drawdown Comparison

The maximum ARGT drawdown since its inception was -61.68%, which is greater than IWY's maximum drawdown of -32.68%. Use the drawdown chart below to compare losses from any high point for ARGT and IWY.

Drawdown Indicators

	ARGT	IWY	Difference
Max Drawdown Largest peak-to-trough decline	-61.68%	-32.68%	-29.00%
Max Drawdown (1Y) Largest decline over 1 year	-22.02%	-16.63%	-5.39%
Max Drawdown (3Y) Largest decline over 3 years	-28.46%	-23.22%	-5.24%
Max Drawdown (5Y) Largest decline over 5 years	-35.14%	-32.68%	-2.46%
Max Drawdown (10Y) Largest decline over 10 years	-61.68%	-32.68%	-29.00%
Current Drawdown Current decline from peak	-10.09%	-7.07%	-3.02%
Average Drawdown Average peak-to-trough decline	-22.00%	-4.75%	-17.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.01%	5.22%	+4.79%

Volatility

ARGT vs. IWY - Volatility Comparison

Global X MSCI Argentina ETF (ARGT) has a higher volatility of 10.38% compared to iShares Russell Top 200 Growth ETF (IWY) at 6.08%. This indicates that ARGT's price experiences larger fluctuations and is considered to be riskier than IWY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARGT	IWY	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.38%	6.08%	+4.30%
Volatility (6M) Calculated over the trailing 6-month period	21.17%	12.61%	+8.56%
Volatility (1Y) Calculated over the trailing 1-year period	37.26%	16.30%	+20.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.11%	21.60%	+10.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.49%	21.03%	+10.46%

ARGT vs. IWY - Expense Ratio Comparison

ARGT has a 0.59% expense ratio, which is higher than IWY's 0.20% expense ratio.

Dividends

ARGT vs. IWY - Dividend Comparison

ARGT's dividend yield for the trailing twelve months is around 0.83%, more than IWY's 0.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARGT Global X MSCI Argentina ETF	0.83%	0.84%	1.41%	1.59%	2.45%	0.93%	0.28%	1.21%	1.34%	0.49%	0.36%	0.89%
IWY iShares Russell Top 200 Growth ETF	0.36%	0.36%	0.42%	0.68%	0.88%	0.50%	0.71%	1.06%	1.32%	1.26%	1.51%	1.58%

Frequently Asked Questions

Can I hold both ARGT and IWY in my portfolio?

ARGT and IWY have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARGT or IWY?

ARGT has higher volatility (10.38%) compared to IWY (6.08%). In terms of maximum drawdown, ARGT dropped -61.68% vs IWY's -32.68%.

Which ETF is better, ARGT or IWY?

On 10-year performance, IWY leads with 19.34% vs 17.15% for ARGT. On fees, IWY is cheaper at 0.20% per year. On volatility, IWY has been the lower-risk option at 6.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ARGT or IWY?

Over the 10-year period, IWY has performed better with a 19.34% return vs 17.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ARGT or IWY?

IWY is cheaper with a 0.20% expense ratio, compared with 0.59% for ARGT.

Which ETF pays a higher dividend yield, ARGT or IWY?

ARGT has the higher dividend yield at 0.83%, compared with 0.36% for IWY.

What is the main difference between ARGT and IWY?

ARGT is categorized as Latin America Equities, while IWY is Large Cap Growth Equities. ARGT tracks MSCI All Argentina 25/50 Index, while IWY tracks Russell Top 200 Growth Index. They also come from different issuers: Global X and iShares. Their fees differ too: 0.59% for ARGT and 0.20% for IWY.

Which has better risk-adjusted returns?

IWY currently has the higher Sharpe Ratio (1.17 vs 0.29), 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.