GBPUSD=X vs. IWM
GBPUSD=X (GBP/USD) is a currency, while IWM (iShares Russell 2000 ETF) is Small Cap Blend Equities fund tracking the Russell 2000 Index. Over the past 10 years, GBPUSD=X returned -0.52%/yr vs 11.27%/yr for IWM. At a 0.23 correlation, their price movements are largely independent.
Performance
GBPUSD=X vs. IWM - Performance Comparison
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Returns By Period
In the year-to-date period, GBPUSD=X achieves a -0.45% return, which is significantly lower than IWM's 19.22% return. Over the past 10 years, GBPUSD=X has underperformed IWM with an annualized return of -0.52%, while IWM has yielded a comparatively higher 11.27% annualized return.
GBPUSD=X
- 1D
- -0.16%
- 1M
- -0.95%
- YTD
- -0.45%
- 6M
- 0.22%
- 1Y
- -1.60%
- 3Y*
- 2.03%
- 5Y*
- -1.04%
- 10Y*
- -0.52%
IWM
- 1D
- 0.87%
- 1M
- 3.64%
- YTD
- 19.22%
- 6M
- 16.00%
- 1Y
- 39.16%
- 3Y*
- 17.23%
- 5Y*
- 6.07%
- 10Y*
- 11.27%
GBPUSD=X vs. IWM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GBPUSD=X GBP/USD | -0.45% | 7.55% | -1.67% | 5.28% | -10.69% | -0.91% | 3.06% | 4.01% | -5.66% | 9.52% |
IWM iShares Russell 2000 ETF | 19.22% | 12.66% | 11.38% | 16.83% | -20.48% | 14.54% | 20.03% | 25.39% | -11.12% | 14.58% |
Correlation
The correlation between GBPUSD=X and IWM is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2007 | 0.23 |
The correlation between GBPUSD=X and IWM shifts across timeframes, from 0.23 (all time) to 0.39 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GBPUSD=X vs. IWM — Risk / Return Rank
GBPUSD=X
IWM
GBPUSD=X vs. IWM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GBP/USD (GBPUSD=X) 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.
| GBPUSD=X | IWM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.20 | ||
| Sortino ratioReturn per unit of downside risk | -3.00 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.33 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.25 | 3.57 | -3.81 |
| Martin ratioReturn relative to average drawdown | -0.47 | 12.63 | -13.10 |
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Drawdowns
GBPUSD=X vs. IWM - Drawdown Comparison
The maximum GBPUSD=X drawdown since its inception was -49.29%, smaller than the maximum IWM drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for GBPUSD=X and IWM.
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Drawdown Indicators
| GBPUSD=X | IWM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.29% | -59.05% | +9.76% |
Max Drawdown (1Y)Largest decline over 1 year | -5.26% | -11.03% | +5.77% |
Max Drawdown (3Y)Largest decline over 3 years | -9.34% | -27.50% | +18.16% |
Max Drawdown (5Y)Largest decline over 5 years | -24.23% | -31.91% | +7.68% |
Max Drawdown (10Y)Largest decline over 10 years | -27.99% | -41.13% | +13.14% |
Current DrawdownCurrent decline from peak | -36.44% | 0.00% | -36.44% |
Average DrawdownAverage peak-to-trough decline | -31.18% | -10.76% | -20.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.56% | 3.12% | -0.56% |
Volatility
GBPUSD=X vs. IWM - Volatility Comparison
The current volatility for GBP/USD (GBPUSD=X) is 1.22%, while iShares Russell 2000 ETF (IWM) has a volatility of 7.16%. This indicates that GBPUSD=X 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
| GBPUSD=X | IWM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | 7.16% | -5.94% |
Volatility (6M)Calculated over the trailing 6-month period | 4.96% | 14.29% | -9.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.25% | 19.73% | -13.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.24% | 22.61% | -14.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.09% | 23.08% | -13.99% |
Frequently Asked Questions
GBPUSD=X and IWM have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IWM has higher volatility (7.16%) compared to GBPUSD=X (1.22%). In terms of maximum drawdown, GBPUSD=X dropped -49.29% vs IWM's -59.05%.
IWM currently has the higher Sharpe Ratio (1.99 vs -0.21), 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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