IGV vs. IYW
IGV (iShares Expanded Tech-Software Sector ET) and IYW (iShares U.S. Technology ETF) are both Technology Equities funds from iShares - IGV tracks the S&P North American Technology-Software Index while IYW tracks the Russell 1000 Technology RIC 22.5/45 Capped Index. Both are passively managed. Over the past 10 years, IGV returned 16.89%/yr vs 26.11%/yr for IYW. Their correlation of 0.85 suggests significant overlap in exposure. IGV charges 0.46%/yr vs 0.38%/yr for IYW.
Performance
IGV vs. IYW - Performance Comparison
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Returns By Period
In the year-to-date period, IGV achieves a -5.19% return, which is significantly lower than IYW's 29.03% return. Over the past 10 years, IGV has underperformed IYW with an annualized return of 16.89%, while IYW has yielded a comparatively higher 26.11% annualized return.
IGV
- 1D
- -4.33%
- 1M
- 13.30%
- YTD
- -5.19%
- 6M
- -6.07%
- 1Y
- -4.56%
- 3Y*
- 14.91%
- 5Y*
- 6.80%
- 10Y*
- 16.89%
IYW
- 1D
- -0.92%
- 1M
- 16.53%
- YTD
- 29.03%
- 6M
- 28.22%
- 1Y
- 59.52%
- 3Y*
- 35.24%
- 5Y*
- 22.87%
- 10Y*
- 26.11%
IGV vs. IYW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGV iShares Expanded Tech-Software Sector ET | -5.19% | 5.56% | 23.41% | 58.56% | -35.65% | 12.30% | 52.86% | 34.33% | 12.44% | 42.16% |
IYW iShares U.S. Technology ETF | 29.03% | 25.38% | 30.25% | 65.44% | -34.83% | 35.44% | 47.45% | 46.64% | -0.93% | 36.60% |
Correlation
The correlation between IGV and IYW is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2001 | 0.85 |
Over the past year, the correlation between IGV and IYW has dropped to 0.64 - well below their long-term average of 0.85, suggesting their price drivers have been diverging.
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Return for Risk
IGV vs. IYW — Risk / Return Rank
IGV
IYW
IGV vs. IYW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Expanded Tech-Software Sector ET (IGV) and iShares U.S. Technology ETF (IYW). 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.
| IGV | IYW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.15 | ||
| Sortino ratioReturn per unit of downside risk | -3.74 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.48 | -0.49 |
| Calmar ratioReturn relative to maximum drawdown | -0.13 | 3.36 | -3.48 |
| Martin ratioReturn relative to average drawdown | -0.27 | 11.00 | -11.26 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IGV | IYW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.17 | 2.98 | -3.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.25 | 0.89 | -0.64 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.64 | 1.04 | -0.40 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.35 | +0.01 |
Drawdowns
IGV vs. IYW - Drawdown Comparison
The maximum IGV drawdown since its inception was -63.45%, smaller than the maximum IYW drawdown of -81.90%. Use the drawdown chart below to compare losses from any high point for IGV and IYW.
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Drawdown Indicators
| IGV | IYW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.45% | -81.90% | +18.45% |
Max Drawdown (1Y)Largest decline over 1 year | -36.61% | -17.81% | -18.80% |
Max Drawdown (3Y)Largest decline over 3 years | -36.61% | -26.47% | -10.14% |
Max Drawdown (5Y)Largest decline over 5 years | -45.85% | -39.44% | -6.41% |
Max Drawdown (10Y)Largest decline over 10 years | -45.85% | -39.44% | -6.41% |
Current DrawdownCurrent decline from peak | -14.93% | -0.92% | -14.01% |
Average DrawdownAverage peak-to-trough decline | -14.44% | -34.66% | +20.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.22% | 5.43% | +11.79% |
Volatility
IGV vs. IYW - Volatility Comparison
iShares Expanded Tech-Software Sector ET (IGV) has a higher volatility of 11.63% compared to iShares U.S. Technology ETF (IYW) at 6.30%. This indicates that IGV's price experiences larger fluctuations and is considered to be riskier than IYW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGV | IYW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.63% | 6.30% | +5.33% |
Volatility (6M)Calculated over the trailing 6-month period | 24.39% | 15.85% | +8.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.61% | 20.09% | +7.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.86% | 25.87% | +1.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.35% | 25.09% | +1.26% |
IGV vs. IYW - Expense Ratio Comparison
IGV has a 0.46% expense ratio, which is higher than IYW's 0.38% expense ratio.
Dividends
IGV vs. IYW - Dividend Comparison
IGV has not paid dividends to shareholders, while IYW's dividend yield for the trailing twelve months is around 0.11%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGV iShares Expanded Tech-Software Sector ET | 0.00% | 0.00% | 0.00% | 0.01% | 0.01% | 0.00% | 0.35% | 0.02% | 0.16% | 0.09% | 0.82% | 0.22% |
IYW iShares U.S. Technology ETF | 0.11% | 0.14% | 0.21% | 0.34% | 0.50% | 0.31% | 0.56% | 0.72% | 0.92% | 0.82% | 1.14% | 1.12% |
Frequently Asked Questions
IGV and IYW have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IGV has higher volatility (11.63%) compared to IYW (6.30%). In terms of maximum drawdown, IGV dropped -63.45% vs IYW's -81.90%.
On 10-year performance, IYW leads with 26.11% vs 16.89% for IGV. On fees, IYW is cheaper at 0.38% per year. On volatility, IYW has been the lower-risk option at 6.30%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IYW has performed better with a 26.11% return vs 16.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYW is cheaper with a 0.38% expense ratio, compared with 0.46% for IGV.
IYW has the higher dividend yield at 0.11%, compared with 0.00% for IGV.
IGV tracks S&P North American Technology-Software Index, while IYW tracks Russell 1000 Technology RIC 22.5/45 Capped Index. Their fees differ too: 0.46% for IGV and 0.38% for IYW.
IYW currently has the higher Sharpe Ratio (2.98 vs -0.17), 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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