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BDVL vs. IWM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BDVL vs. IWM

Last updated Jul 17, 2026
Documentation

BDVL (iShares Disciplined Volatility Equity Active ETF) and IWM (iShares Russell 2000 ETF) are both exchange-traded funds - BDVL is a Global Equities fund tracking the MSCI ACWI Minimum Volatility Index, while IWM is a Small Cap Blend Equities fund tracking the Russell 2000 Index. Both are passively managed. A 0.71 correlation means they provide meaningful diversification when combined. BDVL charges 0.40%/yr vs 0.19%/yr for IWM.

Performance

BDVL vs. IWM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Disciplined Volatility Equity Active ETF (BDVL) and iShares Russell 2000 ETF (IWM). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, BDVL achieves a 5.75% return, which is significantly lower than IWM's 20.58% return.

BDVL

1D
0.11%
1M
-0.11%
6M
4.83%
YTD
5.75%
1Y
—
3Y*
—
5Y*
—
10Y*
—

IWM

1D
-0.06%
1M
1.20%
6M
11.79%
YTD
20.58%
1Y
35.13%
3Y*
16.52%
5Y*
7.91%
10Y*
10.82%
*Multi-year figures are annualized to reflect compound growth (CAGR)

BDVL vs. IWM - Yearly Performance Comparison

2026 (YTD)2025
BDVL
iShares Disciplined Volatility Equity Active ETF		5.75%2.20%
IWM
iShares Russell 2000 ETF		20.58%3.92%

Correlation

The correlation between BDVL and IWM is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (All Time)
Calculated using the full available price history since Sep 15, 2025

0.71

BDVL vs. IWM - Sectors Allocation Comparison

Sectors
BDVL
IWM

Technology

27.7%
14.9%

Financial Services

15.4%
18.1%

Industrials

12.7%
13.8%

Healthcare

10.8%
20.1%

Communication Services

9.1%
2.0%

Consumer Cyclical

5.8%
8.9%

Consumer Defensive

5.5%
2.5%

Utilities

5.0%
2.9%

Energy

2.1%
5.7%

Basic Materials

1.2%
4.3%

Real Estate

0.5%
6.3%

Technology

BDVL
27.7%
IWM
14.9%

Financial Services

BDVL
15.4%
IWM
18.1%

Industrials

BDVL
12.7%
IWM
13.8%

Healthcare

BDVL
10.8%
IWM
20.1%

Communication Services

BDVL
9.1%
IWM
2.0%

Consumer Cyclical

BDVL
5.8%
IWM
8.9%

Consumer Defensive

BDVL
5.5%
IWM
2.5%

Utilities

BDVL
5.0%
IWM
2.9%

Energy

BDVL
2.1%
IWM
5.7%

Basic Materials

BDVL
1.2%
IWM
4.3%

Real Estate

BDVL
0.5%
IWM
6.3%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Disciplined Volatility Equity Active ETF

iShares Russell 2000 ETF

Often compared with BDVL:
BDVL vs. UFOBDVL vs. CGGEBDVL vs. VTBDVL vs. CAPEBDVL vs. IVESBDVL vs. DFAWBDVL vs. PAWZ
Often compared with IWM:
IWM vs. SPYIWM vs. VTWOIWM vs. IJRIWM vs. AVUVIWM vs. IWNIWM vs. VOOIWM vs. IWO

Return for Risk

BDVL vs. IWM — Risk / Return Rank

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

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

IWM
IWM Risk / Return Rank: 7272
Overall Rank
IWM Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
IWM Sortino Ratio Rank: 7171
Sortino Ratio Rank
IWM Omega Ratio Rank: 6363
Omega Ratio Rank
IWM Calmar Ratio Rank: 7777
Calmar Ratio Rank
IWM Martin Ratio Rank: 7676
Martin Ratio Rank
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.

BDVL vs. IWM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Disciplined Volatility Equity Active ETF (BDVL) 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.

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.

BDVLIWMDifference
Sharpe ratioReturn per unit of total volatility

—

1.82

—

Sortino ratioReturn per unit of downside risk

—

2.58

—

Omega ratioGain probability vs. loss probability

—

1.31

—

Calmar ratioReturn relative to maximum drawdown

—

3.20

—

Martin ratioReturn relative to average drawdown

—

11.30

—

BDVL vs. IWM - Sharpe Ratio Comparison

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Drawdowns

BDVL vs. IWM - Drawdown Comparison

The maximum BDVL drawdown since its inception was -7.71%, smaller than the maximum IWM drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for BDVL and IWM.

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Drawdown Indicators

BDVLIWMDifference

Max Drawdown

Largest peak-to-trough decline

-7.71%

-59.05%

+51.34%

Max Drawdown (1Y)

Largest decline over 1 year

—

-11.03%

—

Max Drawdown (3Y)

Largest decline over 3 years

—

-27.50%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-31.91%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-41.13%

—

Current Drawdown

Current decline from peak

-0.81%

-1.62%

+0.81%

Average Drawdown

Average peak-to-trough decline

-1.14%

-10.72%

+9.58%

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

3.12%

—

Volatility

BDVL vs. IWM - Volatility Comparison

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Volatility by Period

BDVLIWMDifference

Volatility (1M)

Calculated over the trailing 1-month period

—

3.72%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

14.17%

—

Volatility (1Y)

Calculated over the trailing 1-year period

9.48%

19.39%

-9.91%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

9.48%

22.54%

-13.06%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

9.48%

23.00%

-13.52%

BDVL vs. IWM - Expense Ratio Comparison

BDVL has a 0.40% expense ratio, which is higher than IWM's 0.19% expense ratio.

Dividends

BDVL vs. IWM - Dividend Comparison

BDVL's dividend yield for the trailing twelve months is around 3.52%, more than IWM's 0.90% yield.

PositionTTM20252024202320222021202020192018201720162015
BDVL
iShares Disciplined Volatility Equity Active ETF		3.52%2.79%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
IWM
iShares Russell 2000 ETF		0.90%1.04%1.15%1.35%1.48%0.94%1.04%1.26%1.40%1.26%1.38%1.54%

Frequently Asked Questions

BDVL and IWM have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IWM is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IWM is cheaper with a 0.19% expense ratio, compared with 0.40% for BDVL.

BDVL has the higher dividend yield at 3.52%, compared with 0.90% for IWM.

BDVL is categorized as Global Equities, while IWM is Small Cap Blend Equities. BDVL tracks MSCI ACWI Minimum Volatility Index, while IWM tracks Russell 2000 Index. Their fees differ too: 0.40% for BDVL and 0.19% for IWM.

Portfolio Optimizer

Find the right allocation for BDVL and IWM

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