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FML.AX vs. IWM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FML.AX vs. IWM

Last updated Jun 4, 2026

FML.AX (Focus Minerals Limited) is a stock, while IWM (iShares Russell 2000 ETF) is Small Cap Blend Equities fund tracking the Russell 2000 Index. Over the past 10 years, FML.AX returned 16.10%/yr vs 11.29%/yr for IWM. At a correlation of -0.01, they often move in opposite directions.

Performance

FML.AX vs. IWM - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Focus Minerals Limited (FML.AX) and iShares Russell 2000 ETF (IWM). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

FML.AX is traded in AUD, while IWM is traded in USD. To make them comparable, the IWM values have been converted to AUD using the latest available exchange rates.

Returns By Period

In the year-to-date period, FML.AX achieves a -35.50% return, which is significantly lower than IWM's 9.58% return. Over the past 10 years, FML.AX has outperformed IWM with an annualized return of 16.10%, while IWM has yielded a comparatively lower 11.29% annualized return.

FML.AX

1D
-3.88%
1M
-13.54%
YTD
-35.50%
6M
-34.44%
1Y
395.00%
3Y*
120.38%
5Y*
46.84%
10Y*
16.10%

IWM

1D
-0.91%
1M
4.08%
YTD
9.58%
6M
7.26%
1Y
26.16%
3Y*
14.92%
5Y*
7.88%
10Y*
11.29%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FML.AX vs. IWM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FML.AX
Focus Minerals Limited		-35.50%1,705.88%-8.11%-27.45%-34.62%14.71%58.14%22.86%-45.31%-21.95%
IWM
iShares Russell 2000 ETF		9.58%4.48%22.59%16.91%-15.23%21.25%9.49%25.97%-1.59%5.85%

Correlation

The correlation between FML.AX and IWM is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

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

-0.05

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

-0.04

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

-0.04

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

-0.02

Correlation (All Time)
Calculated using the full available price history since Jul 2, 2007

-0.01

Compare stocks, funds, or ETFs

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Focus Minerals Limited

iShares Russell 2000 ETF

Often compared with FML.AX:
FML.AX vs. 3191.HKFML.AX vs. SMRFML.AX vs. SPSMFML.AX vs. JPEM
Often compared with IWM:
IWM vs. SPYIWM vs. VTWOIWM vs. IJRIWM vs. AVUVIWM vs. IWNIWM vs. VOOIWM vs. IWO

Return for Risk

FML.AX vs. IWM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FML.AX
FML.AX Risk / Return Rank: 9595
Overall Rank
FML.AX Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
FML.AX Sortino Ratio Rank: 9696
Sortino Ratio Rank
FML.AX Omega Ratio Rank: 9393
Omega Ratio Rank
FML.AX Calmar Ratio Rank: 9595
Calmar Ratio Rank
FML.AX Martin Ratio Rank: 9393
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.

FML.AX vs. IWM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Focus Minerals Limited (FML.AX) 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.

FML.AXIWMDifference
Sharpe ratioReturn per unit of total volatility
4.30
1.59

+2.72

Sortino ratioReturn per unit of downside risk
4.32
2.36

+1.96

Omega ratioGain probability vs. loss probability

1.49

1.27

+0.23

Calmar ratioReturn relative to maximum drawdown

6.75

2.01

+4.75

Martin ratioReturn relative to average drawdown

16.08

6.12

+9.96

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

FML.AX vs. IWM - Sharpe Ratio Comparison

The current FML.AX Sharpe Ratio is 4.30, which is higher than the IWM Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of FML.AX 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

FML.AXIWMDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

4.30

1.59

+2.72

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.54

0.40

+0.13

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.21

0.55

-0.34

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.07

0.43

-0.51

Drawdowns

FML.AX vs. IWM - Drawdown Comparison

The maximum FML.AX drawdown since its inception was -99.12%, which is greater than IWM's maximum drawdown of -44.20%. Use the drawdown chart below to compare losses from any high point for FML.AX and IWM.

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Drawdown Indicators

FML.AXIWMDifference

Max Drawdown

Largest peak-to-trough decline

-99.12%

-44.20%

-54.92%

Max Drawdown (1Y)

Largest decline over 1 year

-57.56%

-13.09%

-44.47%

Max Drawdown (3Y)

Largest decline over 3 years

-57.56%

-23.56%

-34.00%

Max Drawdown (5Y)

Largest decline over 5 years

-70.51%

-28.60%

-41.91%

Max Drawdown (10Y)

Largest decline over 10 years

-83.80%

-33.51%

-50.29%

Current Drawdown

Current decline from peak

-84.77%

-1.46%

-83.31%

Average Drawdown

Average peak-to-trough decline

-83.32%

-11.55%

-71.77%

Ulcer Index

Depth and duration of drawdowns from previous peaks

24.27%

4.29%

+19.98%

Volatility

FML.AX vs. IWM - Volatility Comparison

Focus Minerals Limited (FML.AX) has a higher volatility of 17.35% compared to iShares Russell 2000 ETF (IWM) at 4.67%. This indicates that FML.AX'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

FML.AXIWMDifference

Volatility (1M)

Calculated over the trailing 1-month period

17.35%

4.67%

+12.68%

Volatility (6M)

Calculated over the trailing 6-month period

50.60%

11.49%

+39.11%

Volatility (1Y)

Calculated over the trailing 1-year period

90.38%

16.68%

+73.70%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

86.69%

19.56%

+67.13%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

76.47%

20.63%

+55.84%

Dividends

FML.AX vs. IWM - Dividend Comparison

FML.AX has not paid dividends to shareholders, while IWM's dividend yield for the trailing twelve months is around 0.88%.

PositionTTM20252024202320222021202020192018201720162015
FML.AX
Focus Minerals Limited		0.00%0.00%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		0.88%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

FML.AX and IWM have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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