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GSC vs. IWMW
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GSC vs. IWMW

Last updated Aug 6, 2026
Documentation

GSC (Goldman Sachs Small Cap Core Equity ETF) and IWMW (iShares Russell 2000 BuyWrite ETF) are both exchange-traded funds - GSC is a Small Cap Blend Equities fund actively managed by Goldman Sachs, while IWMW is a Derivative Income fund tracking the Cboe FTSE Russell IWM 2% OTM BuyWrite Index. GSC is actively managed, while IWMW is passively managed. Over the past year, GSC returned 32.89% vs 26.97% for IWMW. Their 0.67 correlation means they have sometimes moved together and sometimes differently. GSC charges 0.75%/yr vs 0.39%/yr for IWMW.

Performance

GSC vs. IWMW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Small Cap Core Equity ETF (GSC) and iShares Russell 2000 BuyWrite ETF (IWMW). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, GSC achieves a 25.66% return, which is significantly higher than IWMW's 16.14% return.

GSC

1D
-0.30%
1M
1.05%
6M
17.81%
YTD
25.66%
1Y
32.89%
3Y*
29.77%
5Y*
22.41%
10Y*
12.89%
ALL TIME*
0.44%

IWMW

1D
0.13%
1M
2.26%
6M
14.29%
YTD
16.14%
1Y
26.97%
3Y*
—
5Y*
—
10Y*
—
ALL TIME*
12.51%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

GSC

Goldman Sachs Small Cap Core Equity ETF
$771.95K$761.49K$912.67K

IWMW

iShares Russell 2000 BuyWrite ETF
$647.07K$528.72K$531.31K

GSC vs. IWMW - Yearly Performance Comparison

2026 (YTD)20252024
GSC
Goldman Sachs Small Cap Core Equity ETF		25.66%6.29%9.74%
IWMW
iShares Russell 2000 BuyWrite ETF		16.14%7.82%5.85%

Correlation

The correlation between GSC and IWMW is 0.72, 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.

0.72

Correlation (All Time)
Calculated using the full available price history since Mar 15, 2024

0.67

The correlation between GSC and IWMW has been stable across timeframes, ranging from 0.67 to 0.72 - a consistent structural relationship.

GSC vs. IWMW - Sectors Allocation Comparison

Sectors
GSC
IWMW

Technology

22.0%
14.5%

Healthcare

17.9%
20.3%

Industrials

16.1%
14.1%

Financial Services

15.8%
17.6%

Consumer Cyclical

12.0%
9.2%

Basic Materials

5.6%
4.4%

Energy

3.4%
5.5%

Utilities

2.8%
2.8%

Real Estate

2.4%
6.7%

Consumer Defensive

1.2%
2.6%

Communication Services

0.9%
2.2%

Technology

GSC
22.0%
IWMW
14.5%

Healthcare

GSC
17.9%
IWMW
20.3%

Industrials

GSC
16.1%
IWMW
14.1%

Financial Services

GSC
15.8%
IWMW
17.6%

Consumer Cyclical

GSC
12.0%
IWMW
9.2%

Basic Materials

GSC
5.6%
IWMW
4.4%

Energy

GSC
3.4%
IWMW
5.5%

Utilities

GSC
2.8%
IWMW
2.8%

Real Estate

GSC
2.4%
IWMW
6.7%

Consumer Defensive

GSC
1.2%
IWMW
2.6%

Communication Services

GSC
0.9%
IWMW
2.2%

Compare stocks, funds, or ETFs

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

Goldman Sachs Small Cap Core Equity ETF

iShares Russell 2000 BuyWrite ETF

Often compared with GSC:
GSC vs. DBCGSC vs. SPYGSC vs. IWMGSC vs. AVUVGSC vs. VBKGSC vs. GARPGSC vs. SCHA
Often compared with IWMW:
IWMW vs. IWMIWMW vs. IVVWIWMW vs. SCHDIWMW vs. QQQIIWMW vs. SPYIWMW vs. IWMLIWMW vs. IWMI

Return for Risk

GSC vs. IWMW — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
GSC
GSC Risk / Return Rank: 4949
Overall Rank
GSC Sharpe Ratio Rank: 1212
Sharpe Ratio Rank
GSC Sortino Ratio Rank: 9393
Sortino Ratio Rank
GSC Omega Ratio Rank: 9898
Omega Ratio Rank
GSC Calmar Ratio Rank: 1919
Calmar Ratio Rank
GSC Martin Ratio Rank: 2323
Martin Ratio Rank
IWMW
IWMW Risk / Return Rank: 8585
Overall Rank
IWMW Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
IWMW Sortino Ratio Rank: 8181
Sortino Ratio Rank
IWMW Omega Ratio Rank: 8888
Omega Ratio Rank
IWMW Calmar Ratio Rank: 8888
Calmar Ratio Rank
IWMW Martin Ratio Rank: 8585
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.

GSC vs. IWMW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Small Cap Core Equity ETF (GSC) and iShares Russell 2000 BuyWrite ETF (IWMW). 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.

GSCIWMWDifference
Sharpe ratioReturn per unit of total volatility
0.08
2.18

-2.09

Sortino ratioReturn per unit of downside risk
3.83
2.95

+0.88

Omega ratioGain probability vs. loss probability

1.99

1.43

+0.56

Calmar ratioReturn relative to maximum drawdown

0.57

3.90

-3.33

Martin ratioReturn relative to average drawdown

1.95

13.50

-11.56

GSC vs. IWMW - Sharpe Ratio Comparison

The current GSC Sharpe Ratio is 0.08, which is lower than the IWMW Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of GSC and IWMW, 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

GSC vs. IWMW - Drawdown Comparison

The maximum GSC drawdown since its inception was -88.63%, which is greater than IWMW's maximum drawdown of -21.82%. Use the drawdown chart below to compare losses from any high point for GSC and IWMW.

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Drawdown Indicators

GSCIWMWDifference

Max Drawdown

Largest peak-to-trough decline

-88.63%

-21.82%

-66.81%

Max Drawdown (1Y)

Largest decline over 1 year

-58.25%

-6.94%

-51.31%

Max Drawdown (3Y)

Largest decline over 3 years

-58.25%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-58.25%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-66.06%

—

—

Current Drawdown

Current decline from peak

-25.37%

0.00%

-25.37%

Average Drawdown

Average peak-to-trough decline

-58.97%

-3.59%

-55.38%

Ulcer Index

Depth and duration of drawdowns from previous peaks

16.94%

2.00%

+14.94%

Volatility

GSC vs. IWMW - Volatility Comparison

Goldman Sachs Small Cap Core Equity ETF (GSC) has a higher volatility of 5.12% compared to iShares Russell 2000 BuyWrite ETF (IWMW) at 3.14%. This indicates that GSC's price experiences larger fluctuations and is considered to be riskier than IWMW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

GSCIWMWDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.12%

3.14%

+1.98%

Volatility (6M)

Calculated over the trailing 6-month period

125.43%

9.40%

+116.03%

Volatility (1Y)

Calculated over the trailing 1-year period

403.82%

12.46%

+391.36%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

218.83%

15.79%

+203.04%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

160.40%

15.79%

+144.61%

GSC vs. IWMW - Expense Ratio Comparison

GSC has a 0.75% expense ratio, which is higher than IWMW's 0.39% expense ratio.

Dividends

GSC vs. IWMW - Dividend Comparison

GSC's dividend yield for the trailing twelve months is around 0.13%, less than IWMW's 20.22% yield.

PositionTTM202520242023
GSC
Goldman Sachs Small Cap Core Equity ETF		0.13%0.16%0.66%0.11%
IWMW
iShares Russell 2000 BuyWrite ETF		20.22%20.98%17.73%0.00%

Frequently Asked Questions

GSC and IWMW have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

GSC has higher volatility (5.12%) compared to IWMW (3.14%). In terms of maximum drawdown, GSC dropped -88.63% vs IWMW's -21.82%.

On 1-year performance, GSC leads with 32.89% vs 26.97% for IWMW. On fees, IWMW is cheaper at 0.39% per year. On volatility, IWMW has been the lower-risk option at 3.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 1-year period, GSC has performed better with a 32.89% return vs 26.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IWMW is cheaper with a 0.39% expense ratio, compared with 0.75% for GSC.

IWMW has the higher dividend yield at 20.22%, compared with 0.13% for GSC.

GSC is categorized as Small Cap Blend Equities, while IWMW is Derivative Income. They also come from different issuers: Goldman Sachs and iShares. Their fees differ too: 0.75% for GSC and 0.39% for IWMW.

IWMW currently has the higher Sharpe Ratio (2.18 vs 0.08), 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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