IFRA vs. IWM

Last updated Jun 4, 2026

IFRA (iShares U.S. Infrastructure ETF) and IWM (iShares Russell 2000 ETF) are both exchange-traded funds - IFRA is a Industrials Equities fund tracking the NYSE FactSet U.S. Infrastructure Index, while IWM is a Small Cap Blend Equities fund tracking the Russell 2000 Index. Both are passively managed. Over the past 5 years, IFRA returned 13.03%/yr vs 6.11%/yr for IWM. Their correlation of 0.84 suggests significant overlap in exposure. IFRA charges 0.30%/yr vs 0.19%/yr for IWM.

Performance

IFRA vs. IWM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Infrastructure ETF (IFRA) and iShares Russell 2000 ETF (IWM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with IFRA having a 16.86% return and IWM slightly higher at 17.07%.

IFRA

• 1D: 0.20%
• 1M: -1.29%
• YTD: 16.86%
• 6M: 16.28%
• 1Y: 28.44%
• 3Y*: 20.10%
• 5Y*: 13.03%
• 10Y*: —

IWM

• 1D: -1.37%
• 1M: 3.52%
• YTD: 17.07%
• 6M: 15.83%
• 1Y: 39.10%
• 3Y*: 17.88%
• 5Y*: 6.11%
• 10Y*: 10.93%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IFRA vs. IWM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
IFRA iShares U.S. Infrastructure ETF	16.86%	15.90%	17.02%	13.42%	-3.32%	29.81%	7.37%	27.00%	-8.57%
IWM iShares Russell 2000 ETF	17.07%	12.66%	11.38%	16.83%	-20.48%	14.54%	20.03%	25.39%	-11.88%

Correlation

The correlation between IFRA and IWM is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Apr 6, 2018	0.84

The correlation between IFRA and IWM has been stable across timeframes, ranging from 0.79 to 0.85 - a consistent structural relationship.

IFRA vs. IWM - Sectors Allocation Comparison

Sectors	IFRA	IWM
Industrials	39.4%	17.1%
Utilities	37.7%	3.0%
Basic Materials	14.7%	4.5%
Energy	7.9%	6.0%
Consumer Cyclical	0.0%	7.8%
Consumer Defensive	0.0%	2.1%
Communication Services	-	2.0%
Financial Services	-	15.8%
Healthcare	-	15.8%
Real Estate	-	5.7%
Technology	-	19.5%

Return for Risk

IFRA vs. IWM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IFRA

IFRA Risk / Return Rank: 60
IFRA Sharpe Ratio Rank: 56
IFRA Sortino Ratio Rank: 59
IFRA Omega Ratio Rank: 52
IFRA Calmar Ratio Rank: 67
IFRA Martin Ratio Rank: 68

IWM

IWM Risk / Return Rank: 62
IWM Sharpe Ratio Rank: 59
IWM Sortino Ratio Rank: 59
IWM Omega Ratio Rank: 53
IWM Calmar Ratio Rank: 70
IWM Martin Ratio Rank: 67

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.

IFRA vs. IWM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Infrastructure ETF (IFRA) 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.

	IFRA	IWM	Difference
Sharpe ratio: Return per unit of total volatility	1.94	2.05	-0.12
Sortino ratio: Return per unit of downside risk	2.85	2.85	0.00
Omega ratio: Gain probability vs. loss probability	1.33	1.34	-0.01
Calmar ratio: Return relative to maximum drawdown	3.40	3.56	-0.16
Martin ratio: Return relative to average drawdown	12.70	12.64	+0.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IFRA vs. IWM - Sharpe Ratio Comparison

The current IFRA Sharpe Ratio is 1.94, which is comparable to the IWM Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of IFRA 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.

Sharpe Ratios by Period

	IFRA	IWM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.94	2.05	-0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	0.27	+0.46
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.37	+0.27

Drawdowns

IFRA vs. IWM - Drawdown Comparison

The maximum IFRA drawdown since its inception was -41.06%, smaller than the maximum IWM drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for IFRA and IWM.

Drawdown Indicators

	IFRA	IWM	Difference
Max Drawdown Largest peak-to-trough decline	-41.06%	-59.05%	+17.99%
Max Drawdown (1Y) Largest decline over 1 year	-8.40%	-11.03%	+2.63%
Max Drawdown (3Y) Largest decline over 3 years	-19.93%	-27.50%	+7.57%
Max Drawdown (5Y) Largest decline over 5 years	-19.93%	-31.91%	+11.98%
Max Drawdown (10Y) Largest decline over 10 years	—	-41.13%	—
Current Drawdown Current decline from peak	-2.66%	-1.49%	-1.17%
Average Drawdown Average peak-to-trough decline	-5.14%	-10.77%	+5.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.25%	3.10%	-0.85%

Volatility

IFRA vs. IWM - Volatility Comparison

The current volatility for iShares U.S. Infrastructure ETF (IFRA) is 4.89%, while iShares Russell 2000 ETF (IWM) has a volatility of 5.75%. This indicates that IFRA 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.

Volatility by Period

	IFRA	IWM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.89%	5.75%	-0.86%
Volatility (6M) Calculated over the trailing 6-month period	11.32%	13.53%	-2.21%
Volatility (1Y) Calculated over the trailing 1-year period	14.79%	19.20%	-4.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.92%	22.52%	-4.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.38%	23.04%	-1.66%

IFRA vs. IWM - Expense Ratio Comparison

IFRA has a 0.30% expense ratio, which is higher than IWM's 0.19% expense ratio.

Dividends

IFRA vs. IWM - Dividend Comparison

IFRA's dividend yield for the trailing twelve months is around 1.59%, more than IWM's 0.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IFRA iShares U.S. Infrastructure ETF	1.59%	1.84%	1.75%	1.98%	1.98%	1.63%	2.08%	1.68%	2.50%	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

Can I hold both IFRA and IWM in my portfolio?

IFRA and IWM have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IFRA or IWM?

IWM has higher volatility (5.75%) compared to IFRA (4.89%). In terms of maximum drawdown, IFRA dropped -41.06% vs IWM's -59.05%.

Which ETF is better, IFRA or IWM?

On 5-year performance, IFRA leads with 13.03% vs 6.11% for IWM. On fees, IWM is cheaper at 0.19% per year. On volatility, IFRA has been the lower-risk option at 4.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IFRA or IWM?

Over the 5-year period, IFRA has performed better with a 13.03% return vs 6.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IFRA or IWM?

IWM is cheaper with a 0.19% expense ratio, compared with 0.30% for IFRA.

Which ETF pays a higher dividend yield, IFRA or IWM?

IFRA has the higher dividend yield at 1.59%, compared with 0.88% for IWM.

What is the main difference between IFRA and IWM?

IFRA is categorized as Industrials Equities, while IWM is Small Cap Blend Equities. IFRA tracks NYSE FactSet U.S. Infrastructure Index, while IWM tracks Russell 2000 Index. Their fees differ too: 0.30% for IFRA and 0.19% for IWM.

Which has better risk-adjusted returns?

IWM currently has the higher Sharpe Ratio (2.05 vs 1.94), 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.