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IGV vs. IGM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IGV vs. IGM

Last updated Aug 4, 2026
Documentation

IGV (iShares Expanded Tech-Software Sector ETF) and IGM (iShares Expanded Tech Sector ETF) are both Technology Equities funds from iShares - IGV tracks the S&P North American Expanded Technology Software Index while IGM tracks the S&P North American Expanded Technology Sector Index. Both are passively managed. Over the past 10 years, IGV returned 16.04%/yr vs 23.41%/yr for IGM. Their correlation of 0.86 means they have usually moved in the same direction. Both charge a 0.39% expense ratio.

Performance

IGV vs. IGM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Expanded Tech-Software Sector ETF (IGV) and iShares Expanded Tech Sector ETF (IGM). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IGV achieves a -7.81% return, which is significantly lower than IGM's 21.55% return. Over the past 10 years, IGV has underperformed IGM with an annualized return of 16.04%, while IGM has yielded a comparatively higher 23.41% annualized return.

IGV

1D
3.00%
1M
4.11%
6M
8.85%
YTD
-7.81%
1Y
-10.30%
3Y*
12.00%
5Y*
3.63%
10Y*
16.04%
ALL TIME*
9.49%

IGM

1D
2.20%
1M
0.03%
6M
20.71%
YTD
21.55%
1Y
38.56%
3Y*
33.72%
5Y*
18.11%
10Y*
23.41%
ALL TIME*
12.48%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

IGM

iShares Expanded Tech Sector ETF
$47.27M$46.48M$81.75M

IGV

iShares Expanded Tech-Software Sector ETF
$1.47B$1.27B$1.69B

IGV vs. IGM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IGV
iShares Expanded Tech-Software Sector ETF		-7.81%5.56%23.41%58.56%-35.65%12.30%52.86%34.33%12.44%42.16%
IGM
iShares Expanded Tech Sector ETF		21.55%26.76%36.99%60.68%-35.83%25.72%45.11%41.81%2.26%37.20%

Correlation

The correlation between IGV and IGM is 0.57, 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.

0.57

Correlation (3Y)
Balances recent behavior with more history.

0.75

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.83

Correlation (10Y)
Provides a long-term view across more market conditions.

0.86

Correlation (All Time)
Calculated using the full available price history since Jul 13, 2001

0.86

Over the past year, the correlation between IGV and IGM has dropped to 0.57 - well below their long-term average of 0.86, suggesting their price drivers have been diverging.

IGV vs. IGM - Sectors Allocation Comparison

Sectors
IGV
IGM

Technology

89.3%
85.2%

Communication Services

8.3%
14.1%

Financial Services

1.9%
0.2%

Consumer Cyclical

0.3%
0.0%

Industrials

0.1%
0.3%

Basic Materials

-

0.0%

Consumer Defensive

-

-

Energy

-

0.0%

Healthcare

-

-

Real Estate

-

-

Utilities

-

-

Technology

IGV
89.3%
IGM
85.2%

Communication Services

IGV
8.3%
IGM
14.1%

Financial Services

IGV
1.9%
IGM
0.2%

Consumer Cyclical

IGV
0.3%
IGM
0.0%

Industrials

IGV
0.1%
IGM
0.3%

Basic Materials

IGV

-

IGM
0.0%

Consumer Defensive

IGV

-

IGM

-

Energy

IGV

-

IGM
0.0%

Healthcare

IGV

-

IGM

-

Real Estate

IGV

-

IGM

-

Utilities

IGV

-

IGM

-

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iShares Expanded Tech-Software Sector ETF

iShares Expanded Tech Sector ETF

Often compared with IGV:
IGV vs. SOXXIGV vs. QQQIGV vs. XSWIGV vs. VGTIGV vs. XLKIGV vs. SMHIGV vs. SMHX
Often compared with IGM:
IGM vs. QQQIGM vs. VGTIGM vs. IYWIGM vs. XLKIGM vs. IXNIGM vs. VOOIGM vs. IETC

Return for Risk

IGV vs. IGM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
IGV
IGV Risk / Return Rank: 77
Overall Rank
IGV Sharpe Ratio Rank: 66
Sharpe Ratio Rank
IGV Sortino Ratio Rank: 77
Sortino Ratio Rank
IGV Omega Ratio Rank: 77
Omega Ratio Rank
IGV Calmar Ratio Rank: 77
Calmar Ratio Rank
IGV Martin Ratio Rank: 77
Martin Ratio Rank
IGM
IGM Risk / Return Rank: 6363
Overall Rank
IGM Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
IGM Sortino Ratio Rank: 6363
Sortino Ratio Rank
IGM Omega Ratio Rank: 6161
Omega Ratio Rank
IGM Calmar Ratio Rank: 6666
Calmar Ratio Rank
IGM Martin Ratio Rank: 5656
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.

IGV vs. IGM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Expanded Tech-Software Sector ETF (IGV) and iShares Expanded Tech Sector ETF (IGM). 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.

IGVIGMDifference
Sharpe ratioReturn per unit of total volatility
-0.35
1.59

-1.95

Sortino ratioReturn per unit of downside risk
-0.31
2.14

-2.46

Omega ratioGain probability vs. loss probability

0.96

1.27

-0.31

Calmar ratioReturn relative to maximum drawdown

-0.28

2.36

-2.64

Martin ratioReturn relative to average drawdown

-0.53

6.77

-7.30

IGV vs. IGM - Sharpe Ratio Comparison

The current IGV Sharpe Ratio is -0.35, which is lower than the IGM Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of IGV and IGM, 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

IGV vs. IGM - Drawdown Comparison

The maximum IGV drawdown since its inception was -63.45%, roughly equal to the maximum IGM drawdown of -65.59%. Use the drawdown chart below to compare losses from any high point for IGV and IGM.

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Drawdown Indicators

IGVIGMDifference

Max Drawdown

Largest peak-to-trough decline

-63.45%

-65.59%

+2.14%

Max Drawdown (1Y)

Largest decline over 1 year

-36.61%

-16.44%

-20.17%

Max Drawdown (3Y)

Largest decline over 3 years

-36.61%

-26.39%

-10.22%

Max Drawdown (5Y)

Largest decline over 5 years

-45.85%

-40.68%

-5.17%

Max Drawdown (10Y)

Largest decline over 10 years

-45.85%

-40.68%

-5.17%

Current Drawdown

Current decline from peak

-17.28%

-8.21%

-9.07%

Average Drawdown

Average peak-to-trough decline

-14.49%

-15.18%

+0.69%

Ulcer Index

Depth and duration of drawdowns from previous peaks

19.38%

5.71%

+13.67%

Volatility

IGV vs. IGM - Volatility Comparison

The current volatility for iShares Expanded Tech-Software Sector ETF (IGV) is 7.40%, while iShares Expanded Tech Sector ETF (IGM) has a volatility of 8.47%. This indicates that IGV experiences smaller price fluctuations and is considered to be less risky than IGM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IGVIGMDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.40%

8.47%

-1.07%

Volatility (6M)

Calculated over the trailing 6-month period

25.09%

20.36%

+4.73%

Volatility (1Y)

Calculated over the trailing 1-year period

29.25%

24.40%

+4.85%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

28.21%

26.36%

+1.85%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

26.47%

24.85%

+1.62%

IGV vs. IGM - Expense Ratio Comparison

Both IGV and IGM have an expense ratio of 0.39%.

Dividends

IGV vs. IGM - Dividend Comparison

IGV's dividend yield for the trailing twelve months is around 0.02%, less than IGM's 0.14% yield.

PositionTTM20252024202320222021202020192018201720162015
IGM
iShares Expanded Tech Sector ETF		0.14%0.17%0.22%0.33%0.66%0.16%0.32%0.50%0.57%0.57%0.90%0.79%
IGV
iShares Expanded Tech-Software Sector ETF		0.02%0.00%0.00%0.01%0.01%0.00%0.35%0.02%0.16%0.09%0.82%0.22%

Frequently Asked Questions

IGV and IGM have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IGM has higher volatility (8.47%) compared to IGV (7.40%). In terms of maximum drawdown, IGV dropped -63.45% vs IGM's -65.59%.

On 10-year performance, IGM leads with 23.41% vs 16.04% for IGV. Both ETFs have the same 0.39% expense ratio. On volatility, IGV has been the lower-risk option at 7.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IGM has performed better with a 23.41% return vs 16.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IGV and IGM have the same expense ratio: 0.39% per year.

IGM has the higher dividend yield at 0.14%, compared with 0.02% for IGV.

IGV tracks S&P North American Expanded Technology Software Index, while IGM tracks S&P North American Expanded Technology Sector Index.

IGM currently has the higher Sharpe Ratio (1.59 vs -0.35), 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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