IGV vs. UPST
IGV (iShares Expanded Tech-Software Sector ETF) is Technology Equities fund tracking the S&P North American Expanded Technology Software Index, while UPST (Upstart Holdings, Inc.) is a stock. Over the past 5 years, IGV returned 3.63%/yr vs -25.47%/yr for UPST. Their 0.54 correlation means they have sometimes moved together and sometimes differently.
Performance
IGV vs. UPST - Performance Comparison
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Returns By Period
In the year-to-date period, IGV achieves a -7.81% return, which is significantly higher than UPST's -32.70% 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%
UPST
- 1D
- 7.25%
- 1M
- -15.38%
- 6M
- -25.85%
- YTD
- -32.70%
- 1Y
- -62.85%
- 3Y*
- -21.45%
- 5Y*
- -25.47%
- 10Y*
- —
- ALL TIME*
- 2.23%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.47B | $1.27B | $1.69B | |
| $101.27M | $108.87M | $136.27M |
IGV vs. UPST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IGV iShares Expanded Tech-Software Sector ETF | -7.81% | 5.56% | 23.41% | 58.56% | -35.65% | 12.30% | 3.24% |
UPST Upstart Holdings, Inc. | -32.70% | -28.98% | 50.69% | 209.08% | -91.26% | 271.29% | 56.73% |
Correlation
The correlation between IGV and UPST is 0.51, 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. | 0.51 |
Correlation (3Y) Balances recent behavior with more history. | 0.51 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.57 |
Correlation (All Time) Calculated using the full available price history since Dec 16, 2020 | 0.54 |
The correlation between IGV and UPST has been stable across timeframes, ranging from 0.51 to 0.57 - a consistent structural relationship.
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Return for Risk
IGV vs. UPST — Risk / Return Rank
IGV
UPST
IGV vs. UPST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Expanded Tech-Software Sector ETF (IGV) and Upstart Holdings, Inc. (UPST). 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.
| IGV | UPST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.55 | ||
| Sortino ratioReturn per unit of downside risk | +1.08 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 0.84 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.28 | -0.89 | +0.61 |
| Martin ratioReturn relative to average drawdown | -0.53 | -1.20 | +0.67 |
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Drawdowns
IGV vs. UPST - Drawdown Comparison
The maximum IGV drawdown since its inception was -63.45%, smaller than the maximum UPST drawdown of -96.90%. Use the drawdown chart below to compare losses from any high point for IGV and UPST.
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Drawdown Indicators
| IGV | UPST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.45% | -96.90% | +33.45% |
Max Drawdown (1Y)Largest decline over 1 year | -36.61% | -70.76% | +34.15% |
Max Drawdown (3Y)Largest decline over 3 years | -36.61% | -72.72% | +36.11% |
Max Drawdown (5Y)Largest decline over 5 years | -45.85% | -96.90% | +51.05% |
Max Drawdown (10Y)Largest decline over 10 years | -45.85% | — | — |
Current DrawdownCurrent decline from peak | -17.28% | -92.45% | +75.17% |
Average DrawdownAverage peak-to-trough decline | -14.49% | -76.56% | +62.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.38% | 52.48% | -33.10% |
Volatility
IGV vs. UPST - Volatility Comparison
The current volatility for iShares Expanded Tech-Software Sector ETF (IGV) is 7.40%, while Upstart Holdings, Inc. (UPST) has a volatility of 14.25%. This indicates that IGV experiences smaller price fluctuations and is considered to be less risky than UPST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGV | UPST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.40% | 14.25% | -6.85% |
Volatility (6M)Calculated over the trailing 6-month period | 25.09% | 49.16% | -24.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.25% | 69.74% | -40.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.21% | 103.57% | -75.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.47% | 112.88% | -86.41% |
Dividends
IGV vs. UPST - Dividend Comparison
IGV's dividend yield for the trailing twelve months is around 0.02%, while UPST has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
UPST Upstart Holdings, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IGV and UPST have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UPST has higher volatility (14.25%) compared to IGV (7.40%). In terms of maximum drawdown, IGV dropped -63.45% vs UPST's -96.90%.
IGV currently has the higher Sharpe Ratio (-0.35 vs -0.91), 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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