IIPR vs. IWMY
IIPR (Innovative Industrial Properties, Inc.) is a stock, while IWMY (Defiance R2000 Enhanced Options & 0DTE Income ETF) is Options Trading fund tracking the Russell 2000 Index. Over the past year, IIPR returned 24.22% vs 23.55% for IWMY. A 0.52 correlation means they provide meaningful diversification when combined.
Performance
IIPR vs. IWMY - Performance Comparison
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Returns By Period
In the year-to-date period, IIPR achieves a 32.69% return, which is significantly higher than IWMY's 13.70% return.
IIPR
- 1D
- -2.07%
- 1M
- 12.06%
- YTD
- 32.69%
- 6M
- 15.09%
- 1Y
- 24.22%
- 3Y*
- 4.81%
- 5Y*
- -13.57%
- 10Y*
- —
IWMY
- 1D
- 0.68%
- 1M
- 4.70%
- YTD
- 13.70%
- 6M
- 10.66%
- 1Y
- 23.55%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IIPR vs. IWMY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IIPR Innovative Industrial Properties, Inc. | 32.69% | -18.40% | -28.55% | 46.27% |
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF | 13.70% | 10.18% | 5.56% | 10.06% |
Correlation
The correlation between IIPR and IWMY is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Oct 31, 2023 | 0.52 |
The correlation between IIPR and IWMY has been stable across timeframes, ranging from 0.45 to 0.52 - a consistent structural relationship.
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Return for Risk
IIPR vs. IWMY — Risk / Return Rank
IIPR
IWMY
IIPR vs. IWMY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovative Industrial Properties, Inc. (IIPR) and Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY). 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.
| IIPR | IWMY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.75 | ||
| Sortino ratioReturn per unit of downside risk | -0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.23 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 1.85 | -0.76 |
| Martin ratioReturn relative to average drawdown | 2.65 | 6.03 | -3.38 |
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Drawdowns
IIPR vs. IWMY - Drawdown Comparison
The maximum IIPR drawdown since its inception was -78.42%, which is greater than IWMY's maximum drawdown of -18.72%. Use the drawdown chart below to compare losses from any high point for IIPR and IWMY.
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Drawdown Indicators
| IIPR | IWMY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.42% | -18.72% | -59.70% |
Max Drawdown (1Y)Largest decline over 1 year | -21.29% | -11.57% | -9.72% |
Max Drawdown (3Y)Largest decline over 3 years | -62.92% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -78.42% | — | — |
Current DrawdownCurrent decline from peak | -68.14% | -0.12% | -68.02% |
Average DrawdownAverage peak-to-trough decline | -37.34% | -2.96% | -34.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.73% | 3.54% | +5.19% |
Volatility
IIPR vs. IWMY - Volatility Comparison
Innovative Industrial Properties, Inc. (IIPR) has a higher volatility of 9.13% compared to Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY) at 6.80%. This indicates that IIPR's price experiences larger fluctuations and is considered to be riskier than IWMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IIPR | IWMY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.13% | 6.80% | +2.33% |
Volatility (6M)Calculated over the trailing 6-month period | 30.31% | 13.47% | +16.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.56% | 16.36% | +25.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.71% | 15.94% | +25.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 48.46% | 15.94% | +32.52% |
Dividends
IIPR vs. IWMY - Dividend Comparison
IIPR's dividend yield for the trailing twelve months is around 12.56%, less than IWMY's 44.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
IIPR Innovative Industrial Properties, Inc. | 12.56% | 16.05% | 11.28% | 7.16% | 7.01% | 2.18% | 2.44% | 3.73% | 1.87% | 1.70% |
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF | 44.61% | 63.33% | 107.92% | 11.34% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IIPR and IWMY have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IIPR has higher volatility (9.13%) compared to IWMY (6.80%). In terms of maximum drawdown, IIPR dropped -78.42% vs IWMY's -18.72%.
IWMY currently has the higher Sharpe Ratio (1.31 vs 0.56), 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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