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DVYE vs. IWM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DVYE vs. IWM

Last updated Jun 26, 2026

DVYE (iShares Emerging Markets Dividend ETF) and IWM (iShares Russell 2000 ETF) are both exchange-traded funds - DVYE is a Emerging Markets Equities fund tracking the Dow Jones Emerging Markets Select Dividend Index, while IWM is a Small Cap Blend Equities fund tracking the Russell 2000 Index. Both are passively managed. Over the past 10 years, DVYE returned 7.54%/yr vs 12.10%/yr for IWM. A 0.56 correlation means they provide meaningful diversification when combined. DVYE charges 0.49%/yr vs 0.19%/yr for IWM.

Performance

DVYE vs. IWM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Emerging Markets Dividend ETF (DVYE) 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, DVYE achieves a 5.60% return, which is significantly lower than IWM's 21.93% return. Over the past 10 years, DVYE has underperformed IWM with an annualized return of 7.54%, while IWM has yielded a comparatively higher 12.10% annualized return.

DVYE

1D
0.00%
1M
-5.02%
YTD
5.60%
6M
6.01%
1Y
20.32%
3Y*
19.29%
5Y*
4.32%
10Y*
7.54%

IWM

1D
0.75%
1M
3.14%
YTD
21.93%
6M
18.77%
1Y
42.48%
3Y*
19.66%
5Y*
6.49%
10Y*
12.10%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DVYE vs. IWM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DVYE
iShares Emerging Markets Dividend ETF		5.60%28.36%8.89%20.88%-31.38%11.02%-2.51%15.41%-5.56%27.04%
IWM
iShares Russell 2000 ETF		21.93%12.66%11.38%16.83%-20.48%14.54%20.03%25.39%-11.12%14.58%

Correlation

The correlation between DVYE and IWM is 0.54, 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

0.54

Correlation (3Y)
Calculated over the trailing 3-year period

0.51

Correlation (5Y)
Calculated over the trailing 5-year period

0.51

Correlation (10Y)
Calculated over the trailing 10-year period

0.54

Correlation (All Time)
Calculated using the full available price history since Feb 24, 2012

0.56

The correlation between DVYE and IWM has been stable across timeframes, ranging from 0.51 to 0.56 - a consistent structural relationship.

DVYE vs. IWM - Sectors Allocation Comparison

Sectors
DVYE
IWM

Financial Services

28.5%
15.5%

Energy

18.2%
6.0%

Industrials

17.0%
17.3%

Basic Materials

8.8%
4.5%

Technology

8.4%
20.1%

Utilities

7.0%
3.1%

Consumer Cyclical

4.3%
8.0%

Real Estate

4.0%
5.5%

Consumer Defensive

2.1%
2.0%

Communication Services

1.7%
1.7%

Healthcare

-

15.6%

Financial Services

DVYE
28.5%
IWM
15.5%

Energy

DVYE
18.2%
IWM
6.0%

Industrials

DVYE
17.0%
IWM
17.3%

Basic Materials

DVYE
8.8%
IWM
4.5%

Technology

DVYE
8.4%
IWM
20.1%

Utilities

DVYE
7.0%
IWM
3.1%

Consumer Cyclical

DVYE
4.3%
IWM
8.0%

Real Estate

DVYE
4.0%
IWM
5.5%

Consumer Defensive

DVYE
2.1%
IWM
2.0%

Communication Services

DVYE
1.7%
IWM
1.7%

Healthcare

DVYE

-

IWM
15.6%

Compare stocks, funds, or ETFs

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iShares Emerging Markets Dividend ETF

iShares Russell 2000 ETF

Often compared with DVYE:
DVYE vs. DEMDVYE vs. DVYDVYE vs. DVYADVYE vs. SCHDDVYE vs. SCHEDVYE vs. IQDYDVYE vs. QQQ
Often compared with IWM:
IWM vs. SPYIWM vs. VTWOIWM vs. IJRIWM vs. AVUVIWM vs. IWNIWM vs. VOOIWM vs. TNA

Return for Risk

DVYE vs. IWM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DVYE
DVYE Risk / Return Rank: 4747
Overall Rank
DVYE Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
DVYE Sortino Ratio Rank: 4141
Sortino Ratio Rank
DVYE Omega Ratio Rank: 4242
Omega Ratio Rank
DVYE Calmar Ratio Rank: 5858
Calmar Ratio Rank
DVYE Martin Ratio Rank: 5151
Martin Ratio Rank
IWM
IWM Risk / Return Rank: 7878
Overall Rank
IWM Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
IWM Sortino Ratio Rank: 7777
Sortino Ratio Rank
IWM Omega Ratio Rank: 6969
Omega Ratio Rank
IWM Calmar Ratio Rank: 8383
Calmar Ratio Rank
IWM Martin Ratio Rank: 8181
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.

DVYE vs. IWM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Emerging Markets Dividend ETF (DVYE) 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.

DVYEIWMDifference
Sharpe ratioReturn per unit of total volatility
1.37
2.17

-0.80

Sortino ratioReturn per unit of downside risk
1.89
2.96

-1.07

Omega ratioGain probability vs. loss probability

1.24

1.36

-0.11

Calmar ratioReturn relative to maximum drawdown

2.46

3.87

-1.41

Martin ratioReturn relative to average drawdown

7.55

13.69

-6.14

DVYE vs. IWM - Sharpe Ratio Comparison

The current DVYE Sharpe Ratio is 1.37, which is lower than the IWM Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of DVYE 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.

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Drawdowns

DVYE vs. IWM - Drawdown Comparison

The maximum DVYE drawdown since its inception was -47.42%, smaller than the maximum IWM drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for DVYE and IWM.

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Drawdown Indicators

DVYEIWMDifference

Max Drawdown

Largest peak-to-trough decline

-47.42%

-59.05%

+11.63%

Max Drawdown (1Y)

Largest decline over 1 year

-8.29%

-11.03%

+2.74%

Max Drawdown (3Y)

Largest decline over 3 years

-14.63%

-27.50%

+12.87%

Max Drawdown (5Y)

Largest decline over 5 years

-40.89%

-31.91%

-8.98%

Max Drawdown (10Y)

Largest decline over 10 years

-40.89%

-41.13%

+0.24%

Current Drawdown

Current decline from peak

-8.29%

0.00%

-8.29%

Average Drawdown

Average peak-to-trough decline

-15.33%

-10.74%

-4.59%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.70%

3.11%

-0.41%

Volatility

DVYE vs. IWM - Volatility Comparison

The current volatility for iShares Emerging Markets Dividend ETF (DVYE) is 5.57%, while iShares Russell 2000 ETF (IWM) has a volatility of 6.31%. This indicates that DVYE 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.

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Volatility by Period

DVYEIWMDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.57%

6.31%

-0.74%

Volatility (6M)

Calculated over the trailing 6-month period

12.36%

14.28%

-1.92%

Volatility (1Y)

Calculated over the trailing 1-year period

14.89%

19.69%

-4.80%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.10%

22.60%

-5.50%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.32%

23.06%

-4.74%

DVYE vs. IWM - Expense Ratio Comparison

DVYE has a 0.49% expense ratio, which is higher than IWM's 0.19% expense ratio.

Dividends

DVYE vs. IWM - Dividend Comparison

DVYE's dividend yield for the trailing twelve months is around 5.11%, more than IWM's 0.89% yield.

PositionTTM20252024202320222021202020192018201720162015
DVYE
iShares Emerging Markets Dividend ETF		5.11%5.88%11.81%9.05%9.89%7.31%5.27%5.97%5.69%4.81%4.56%6.53%
IWM
iShares Russell 2000 ETF		0.89%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

DVYE and IWM have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IWM has higher volatility (6.31%) compared to DVYE (5.57%). In terms of maximum drawdown, DVYE dropped -47.42% vs IWM's -59.05%.

On 10-year performance, IWM leads with 12.10% vs 7.54% for DVYE. On fees, IWM is cheaper at 0.19% per year. On volatility, DVYE has been the lower-risk option at 5.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IWM has performed better with a 12.10% return vs 7.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IWM is cheaper with a 0.19% expense ratio, compared with 0.49% for DVYE.

DVYE has the higher dividend yield at 5.11%, compared with 0.89% for IWM.

DVYE is categorized as Emerging Markets Equities, while IWM is Small Cap Blend Equities. DVYE tracks Dow Jones Emerging Markets Select Dividend Index, while IWM tracks Russell 2000 Index. Their fees differ too: 0.49% for DVYE and 0.19% for IWM.

IWM currently has the higher Sharpe Ratio (2.17 vs 1.37), 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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