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EQNR vs. IWM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EQNR vs. IWM

Last updated Jun 6, 2026

EQNR (Equinor ASA) is a stock, while IWM (iShares Russell 2000 ETF) is Small Cap Blend Equities fund tracking the Russell 2000 Index. Over the past 5 years, EQNR returned 18.49%/yr vs 5.66%/yr for IWM. At a 0.34 correlation, their price movements are largely independent.

Performance

EQNR vs. IWM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Equinor ASA (EQNR) 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, EQNR achieves a 60.03% return, which is significantly higher than IWM's 14.62% return.

EQNR

1D
-1.89%
1M
-1.87%
YTD
60.03%
6M
64.49%
1Y
60.91%
3Y*
21.62%
5Y*
18.49%
10Y*
—

IWM

1D
-3.55%
1M
-1.80%
YTD
14.62%
6M
12.89%
1Y
36.52%
3Y*
16.56%
5Y*
5.66%
10Y*
10.54%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EQNR vs. IWM - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
EQNR
Equinor ASA		60.03%7.70%-15.98%-0.78%40.77%64.55%-13.57%-0.99%-21.06%
IWM
iShares Russell 2000 ETF		14.62%12.66%11.38%16.83%-20.48%14.54%20.03%25.39%-15.99%

Correlation

The correlation between EQNR and IWM is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.12

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

0.12

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

0.22

Correlation (All Time)
Calculated using the full available price history since May 17, 2018

0.34

The correlation between EQNR and IWM shifts across timeframes, from -0.12 (1 year) to 0.34 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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

Equinor ASA

iShares Russell 2000 ETF

Often compared with EQNR:
EQNR vs. SHELEQNR vs. XOMEQNR vs. NVSEQNR vs. DVNEQNR vs. PEPEQNR vs. VDEEQNR vs. SMNEY
Often compared with IWM:
IWM vs. SPYIWM vs. VTWOIWM vs. IJRIWM vs. AVUVIWM vs. IWNIWM vs. VOOIWM vs. IWO

Return for Risk

EQNR vs. IWM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EQNR
EQNR Risk / Return Rank: 8181
Overall Rank
EQNR Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
EQNR Sortino Ratio Rank: 7878
Sortino Ratio Rank
EQNR Omega Ratio Rank: 7878
Omega Ratio Rank
EQNR Calmar Ratio Rank: 8585
Calmar Ratio Rank
EQNR Martin Ratio Rank: 7878
Martin Ratio Rank
IWM
IWM Risk / Return Rank: 5959
Overall Rank
IWM Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
IWM Sortino Ratio Rank: 5555
Sortino Ratio Rank
IWM Omega Ratio Rank: 5151
Omega Ratio Rank
IWM Calmar Ratio Rank: 6868
Calmar Ratio Rank
IWM Martin Ratio Rank: 6565
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.

EQNR vs. IWM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Equinor ASA (EQNR) 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.

EQNRIWMDifference
Sharpe ratioReturn per unit of total volatility
1.71
1.88

-0.17

Sortino ratioReturn per unit of downside risk
2.21
2.60

-0.39

Omega ratioGain probability vs. loss probability

1.29

1.31

-0.02

Calmar ratioReturn relative to maximum drawdown

3.46

3.33

+0.13

Martin ratioReturn relative to average drawdown

5.95

11.78

-5.83

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

EQNR vs. IWM - Sharpe Ratio Comparison

The current EQNR Sharpe Ratio is 1.71, which is comparable to the IWM Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of EQNR 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

EQNRIWMDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.71

1.88

-0.17

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.55

0.25

+0.30

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.46

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.29

0.36

-0.07

Drawdowns

EQNR vs. IWM - Drawdown Comparison

The maximum EQNR drawdown since its inception was -66.77%, which is greater than IWM's maximum drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for EQNR and IWM.

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Drawdown Indicators

EQNRIWMDifference

Max Drawdown

Largest peak-to-trough decline

-66.77%

-59.05%

-7.72%

Max Drawdown (1Y)

Largest decline over 1 year

-17.72%

-11.03%

-6.69%

Max Drawdown (3Y)

Largest decline over 3 years

-27.58%

-27.50%

-0.08%

Max Drawdown (5Y)

Largest decline over 5 years

-35.50%

-31.91%

-3.59%

Max Drawdown (10Y)

Largest decline over 10 years

—

-41.13%

—

Current Drawdown

Current decline from peak

-11.99%

-3.55%

-8.44%

Average Drawdown

Average peak-to-trough decline

-21.49%

-10.76%

-10.73%

Ulcer Index

Depth and duration of drawdowns from previous peaks

10.27%

3.11%

+7.16%

Volatility

EQNR vs. IWM - Volatility Comparison

Equinor ASA (EQNR) has a higher volatility of 10.75% compared to iShares Russell 2000 ETF (IWM) at 6.65%. This indicates that EQNR's price experiences larger fluctuations and is considered to be riskier 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

EQNRIWMDifference

Volatility (1M)

Calculated over the trailing 1-month period

10.75%

6.65%

+4.10%

Volatility (6M)

Calculated over the trailing 6-month period

29.65%

14.00%

+15.65%

Volatility (1Y)

Calculated over the trailing 1-year period

35.87%

19.54%

+16.33%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

33.84%

22.58%

+11.26%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

36.27%

23.06%

+13.21%

Dividends

EQNR vs. IWM - Dividend Comparison

EQNR's dividend yield for the trailing twelve months is around 4.06%, more than IWM's 0.90% yield.

PositionTTM20252024202320222021202020192018201720162015
EQNR
Equinor ASA		4.06%7.66%12.66%11.38%3.30%2.13%4.32%5.07%3.26%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

EQNR and IWM have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EQNR has higher volatility (10.75%) compared to IWM (6.65%). In terms of maximum drawdown, EQNR dropped -66.77% vs IWM's -59.05%.

IWM currently has the higher Sharpe Ratio (1.88 vs 1.71), 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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