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EPP vs. IWM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EPP vs. IWM

Last updated Jun 4, 2026

EPP (iShares MSCI Pacific ex Japan ETF) and IWM (iShares Russell 2000 ETF) are both exchange-traded funds - EPP is a Asia Pacific Equities fund tracking the MSCI Pacific ex-Japan Index, while IWM is a Small Cap Blend Equities fund tracking the Russell 2000 Index. Both are passively managed. Over the past 10 years, EPP returned 7.60%/yr vs 10.93%/yr for IWM. A 0.66 correlation means they provide meaningful diversification when combined. EPP charges 0.48%/yr vs 0.19%/yr for IWM.

Performance

EPP vs. IWM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Pacific ex Japan ETF (EPP) 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, EPP achieves a 9.57% return, which is significantly lower than IWM's 17.07% return. Over the past 10 years, EPP has underperformed IWM with an annualized return of 7.60%, while IWM has yielded a comparatively higher 10.93% annualized return.

EPP

1D
-1.07%
1M
1.12%
YTD
9.57%
6M
10.96%
1Y
17.40%
3Y*
13.26%
5Y*
4.65%
10Y*
7.60%

IWM

1D
-1.37%
1M
3.52%
YTD
17.07%
6M
15.83%
1Y
39.10%
3Y*
17.88%
5Y*
6.11%
10Y*
10.93%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EPP vs. IWM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EPP
iShares MSCI Pacific ex Japan ETF		9.57%19.70%4.76%5.76%-6.59%4.26%6.04%18.30%-10.78%26.05%
IWM
iShares Russell 2000 ETF		17.07%12.66%11.38%16.83%-20.48%14.54%20.03%25.39%-11.12%14.58%

Correlation

The correlation between EPP and IWM is 0.67, 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

0.67

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

0.67

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

0.70

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

0.68

Correlation (All Time)
Calculated using the full available price history since Oct 29, 2001

0.66

The correlation between EPP and IWM has been stable across timeframes, ranging from 0.66 to 0.70 - a consistent structural relationship.

EPP vs. IWM - Sectors Allocation Comparison

Sectors
EPP
IWM

Financial Services

46.0%
15.8%

Basic Materials

14.6%
4.5%

Industrials

8.6%
17.1%

Real Estate

7.8%
5.7%

Consumer Cyclical

6.0%
7.8%

Healthcare

3.7%
15.8%

Utilities

3.6%
3.0%

Consumer Defensive

3.0%
2.1%

Energy

2.9%
6.0%

Communication Services

2.7%
2.0%

Technology

1.1%
19.5%

Financial Services

EPP
46.0%
IWM
15.8%

Basic Materials

EPP
14.6%
IWM
4.5%

Industrials

EPP
8.6%
IWM
17.1%

Real Estate

EPP
7.8%
IWM
5.7%

Consumer Cyclical

EPP
6.0%
IWM
7.8%

Healthcare

EPP
3.7%
IWM
15.8%

Utilities

EPP
3.6%
IWM
3.0%

Consumer Defensive

EPP
3.0%
IWM
2.1%

Energy

EPP
2.9%
IWM
6.0%

Communication Services

EPP
2.7%
IWM
2.0%

Technology

EPP
1.1%
IWM
19.5%

Compare stocks, funds, or ETFs

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iShares MSCI Pacific ex Japan ETF

iShares Russell 2000 ETF

Often compared with EPP:
EPP vs. EWTEPP vs. AAXJEPP vs. BBAXEPP vs. EWHEPP vs. AIAEPP vs. EWYEPP vs. VPL
Often compared with IWM:
IWM vs. SPYIWM vs. VTWOIWM vs. IJRIWM vs. AVUVIWM vs. IWNIWM vs. VOOIWM vs. IWO

Return for Risk

EPP vs. IWM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EPP
EPP Risk / Return Rank: 3535
Overall Rank
EPP Sharpe Ratio Rank: 3333
Sharpe Ratio Rank
EPP Sortino Ratio Rank: 3232
Sortino Ratio Rank
EPP Omega Ratio Rank: 3232
Omega Ratio Rank
EPP Calmar Ratio Rank: 4040
Calmar Ratio Rank
EPP Martin Ratio Rank: 3939
Martin Ratio Rank
IWM
IWM Risk / Return Rank: 6262
Overall Rank
IWM Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
IWM Sortino Ratio Rank: 5959
Sortino Ratio Rank
IWM Omega Ratio Rank: 5353
Omega Ratio Rank
IWM Calmar Ratio Rank: 7070
Calmar Ratio Rank
IWM Martin Ratio Rank: 6767
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.

EPP vs. IWM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Pacific ex Japan ETF (EPP) 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.

EPPIWMDifference
Sharpe ratioReturn per unit of total volatility
1.20
2.05

-0.85

Sortino ratioReturn per unit of downside risk
1.74
2.85

-1.12

Omega ratioGain probability vs. loss probability

1.22

1.34

-0.12

Calmar ratioReturn relative to maximum drawdown

1.99

3.56

-1.57

Martin ratioReturn relative to average drawdown

6.27

12.64

-6.37

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EPP vs. IWM - Sharpe Ratio Comparison

The current EPP Sharpe Ratio is 1.20, which is lower than the IWM Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of EPP 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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Sharpe Ratios by Period

EPPIWMDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.20

2.05

-0.85

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.27

0.27

0.00

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.40

0.48

-0.08

Sharpe Ratio (All Time)

Calculated using the full available price history

0.39

0.37

+0.02

Drawdowns

EPP vs. IWM - Drawdown Comparison

The maximum EPP drawdown since its inception was -66.01%, which is greater than IWM's maximum drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for EPP and IWM.

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Drawdown Indicators

EPPIWMDifference

Max Drawdown

Largest peak-to-trough decline

-66.01%

-59.05%

-6.96%

Max Drawdown (1Y)

Largest decline over 1 year

-8.79%

-11.03%

+2.24%

Max Drawdown (3Y)

Largest decline over 3 years

-19.29%

-27.50%

+8.21%

Max Drawdown (5Y)

Largest decline over 5 years

-26.31%

-31.91%

+5.60%

Max Drawdown (10Y)

Largest decline over 10 years

-39.30%

-41.13%

+1.83%

Current Drawdown

Current decline from peak

-2.79%

-1.49%

-1.30%

Average Drawdown

Average peak-to-trough decline

-10.62%

-10.77%

+0.15%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.78%

3.10%

-0.32%

Volatility

EPP vs. IWM - Volatility Comparison

The current volatility for iShares MSCI Pacific ex Japan ETF (EPP) is 4.65%, while iShares Russell 2000 ETF (IWM) has a volatility of 5.75%. This indicates that EPP 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

EPPIWMDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.65%

5.75%

-1.10%

Volatility (6M)

Calculated over the trailing 6-month period

11.94%

13.53%

-1.59%

Volatility (1Y)

Calculated over the trailing 1-year period

14.51%

19.20%

-4.69%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.41%

22.52%

-5.11%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.11%

23.04%

-3.93%

EPP vs. IWM - Expense Ratio Comparison

EPP has a 0.48% expense ratio, which is higher than IWM's 0.19% expense ratio.

Dividends

EPP vs. IWM - Dividend Comparison

EPP's dividend yield for the trailing twelve months is around 3.44%, more than IWM's 0.88% yield.

PositionTTM20252024202320222021202020192018201720162015
EPP
iShares MSCI Pacific ex Japan ETF		3.44%3.77%3.81%4.10%4.37%4.58%2.28%3.89%5.00%4.15%3.96%4.90%
IWM
iShares Russell 2000 ETF		0.88%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

EPP and IWM have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IWM has higher volatility (5.75%) compared to EPP (4.65%). In terms of maximum drawdown, EPP dropped -66.01% vs IWM's -59.05%.

On 10-year performance, IWM leads with 10.93% vs 7.60% for EPP. On fees, IWM is cheaper at 0.19% per year. On volatility, EPP has been the lower-risk option at 4.65%. 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 10.93% return vs 7.60%. 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 0.48% for EPP.

EPP has the higher dividend yield at 3.44%, compared with 0.88% for IWM.

EPP is categorized as Asia Pacific Equities, while IWM is Small Cap Blend Equities. EPP tracks MSCI Pacific ex-Japan Index, while IWM tracks Russell 2000 Index. Their fees differ too: 0.48% for EPP and 0.19% for IWM.

IWM currently has the higher Sharpe Ratio (2.05 vs 1.20), 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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