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EPP vs. IWM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EPP vs. IWM

Last updated Aug 2, 2026
Documentation

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 7.34%/yr vs 10.70%/yr for IWM. Their 0.66 correlation means they have sometimes moved together and sometimes differently. 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 13.66% return, which is significantly lower than IWM's 18.79% return. Over the past 10 years, EPP has underperformed IWM with an annualized return of 7.34%, while IWM has yielded a comparatively higher 10.70% annualized return.

EPP

1D
-1.26%
1M
5.83%
6M
7.04%
YTD
13.66%
1Y
19.08%
3Y*
13.55%
5Y*
6.35%
10Y*
7.34%
ALL TIME*
9.07%

IWM

1D
-0.48%
1M
-2.14%
6M
12.62%
YTD
18.79%
1Y
36.90%
3Y*
15.11%
5Y*
6.99%
10Y*
10.70%
ALL TIME*
8.73%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

EPP

iShares MSCI Pacific ex Japan ETF
$14.47M$15.53M$19.44M

IWM

iShares Russell 2000 ETF
$6.67B$6.32B$7.45B

EPP vs. IWM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EPP
iShares MSCI Pacific ex Japan ETF		13.66%19.70%4.76%5.76%-6.59%4.26%6.04%18.30%-10.78%26.05%
IWM
iShares Russell 2000 ETF		18.79%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 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.62

Correlation (3Y)
Balances recent behavior with more history.

0.67

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.69

Correlation (10Y)
Provides a long-term view across more market conditions.

0.68

Correlation (All Time)
Calculated using the full available price history since Oct 26, 2001

0.66

The correlation between EPP and IWM has been stable across timeframes, ranging from 0.62 to 0.69 - a consistent structural relationship.

EPP vs. IWM - Sectors Allocation Comparison

Sectors
EPP
IWM

Financial Services

45.0%
18.3%

Basic Materials

15.8%
4.5%

Industrials

8.7%
13.7%

Real Estate

7.2%
7.0%

Consumer Cyclical

6.9%
9.2%

Healthcare

3.8%
20.0%

Utilities

3.5%
2.9%

Consumer Defensive

3.2%
2.8%

Communication Services

2.6%
2.0%

Energy

2.5%
5.6%

Technology

1.0%
13.6%

Financial Services

EPP
45.0%
IWM
18.3%

Basic Materials

EPP
15.8%
IWM
4.5%

Industrials

EPP
8.7%
IWM
13.7%

Real Estate

EPP
7.2%
IWM
7.0%

Consumer Cyclical

EPP
6.9%
IWM
9.2%

Healthcare

EPP
3.8%
IWM
20.0%

Utilities

EPP
3.5%
IWM
2.9%

Consumer Defensive

EPP
3.2%
IWM
2.8%

Communication Services

EPP
2.6%
IWM
2.0%

Energy

EPP
2.5%
IWM
5.6%

Technology

EPP
1.0%
IWM
13.6%

Compare stocks, funds, or ETFs

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

iShares MSCI Pacific ex Japan ETF

iShares Russell 2000 ETF

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

Return for Risk

EPP vs. IWM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
EPP
EPP Risk / Return Rank: 5252
Overall Rank
EPP Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
EPP Sortino Ratio Rank: 5050
Sortino Ratio Rank
EPP Omega Ratio Rank: 5050
Omega Ratio Rank
EPP Calmar Ratio Rank: 6161
Calmar Ratio Rank
EPP Martin Ratio Rank: 5151
Martin Ratio Rank
IWM
IWM Risk / Return Rank: 7979
Overall Rank
IWM Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
IWM Sortino Ratio Rank: 7878
Sortino Ratio Rank
IWM Omega Ratio Rank: 7272
Omega Ratio Rank
IWM Calmar Ratio Rank: 8383
Calmar Ratio Rank
IWM Martin Ratio Rank: 8383
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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.

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.

EPPIWMDifference
Sharpe ratioReturn per unit of total volatility
1.23
1.77

-0.54

Sortino ratioReturn per unit of downside risk
1.77
2.51

-0.75

Omega ratioGain probability vs. loss probability

1.22

1.30

-0.07

Calmar ratioReturn relative to maximum drawdown

2.13

3.11

-0.97

Martin ratioReturn relative to average drawdown

5.94

11.02

-5.08

EPP vs. IWM - Sharpe Ratio Comparison

The current EPP Sharpe Ratio is 1.23, which is lower than the IWM Sharpe Ratio of 1.77. 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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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

-24.55%

-31.91%

+7.36%

Max Drawdown (10Y)

Largest decline over 10 years

-39.30%

-41.13%

+1.83%

Current Drawdown

Current decline from peak

-1.26%

-3.08%

+1.82%

Average Drawdown

Average peak-to-trough decline

-10.57%

-10.71%

+0.14%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.15%

3.11%

+0.04%

Volatility

EPP vs. IWM - Volatility Comparison

iShares MSCI Pacific ex Japan ETF (EPP) and iShares Russell 2000 ETF (IWM) have volatilities of 3.89% and 3.82%, 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

EPPIWMDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.89%

3.82%

+0.07%

Volatility (6M)

Calculated over the trailing 6-month period

12.79%

14.12%

-1.33%

Volatility (1Y)

Calculated over the trailing 1-year period

15.30%

19.41%

-4.11%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.52%

22.48%

-4.96%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.01%

23.01%

-4.00%

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 3.31%, more than IWM's 0.91% yield.

PositionTTM20252024202320222021202020192018201720162015
EPP
iShares MSCI Pacific ex Japan ETF		3.31%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		0.91%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 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EPP has higher volatility (3.89%) compared to IWM (3.82%). In terms of maximum drawdown, EPP dropped -66.01% vs IWM's -59.05%.

On 10-year performance, IWM leads with 10.70% vs 7.34% for EPP. On fees, IWM is cheaper at 0.19% 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, IWM has performed better with a 10.70% return vs 7.34%. 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 3.31%, compared with 0.91% 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 (1.77 vs 1.23), 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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