IPO vs. IWR
Compare and contrast key facts about Renaissance IPO ETF (IPO) and iShares Russell Midcap ETF (IWR).
IPO and IWR are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IPO is a passively managed fund by Renaissance Capital that tracks the performance of the Renaissance IPO Index. It was launched on Oct 14, 2013. IWR is a passively managed fund by iShares that tracks the performance of the Russell Midcap Index. It was launched on Jul 17, 2001. Both IPO and IWR are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
IPO vs. IWR - Performance Comparison
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IPO vs. IWR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IPO Renaissance IPO ETF | -8.19% | 5.45% | 15.68% | 52.55% | -57.26% | -10.31% | 107.88% | 34.11% | -17.24% | 37.16% |
IWR iShares Russell Midcap ETF | 1.27% | 10.37% | 15.21% | 17.05% | -17.48% | 22.44% | 16.93% | 30.23% | -9.10% | 18.25% |
Returns By Period
In the year-to-date period, IPO achieves a -8.19% return, which is significantly lower than IWR's 1.27% return. Over the past 10 years, IPO has underperformed IWR with an annualized return of 8.27%, while IWR has yielded a comparatively higher 10.69% annualized return.
IPO
- 1D
- 5.57%
- 1M
- -3.72%
- YTD
- -8.19%
- 6M
- -15.44%
- 1Y
- 12.12%
- 3Y*
- 13.00%
- 5Y*
- -7.82%
- 10Y*
- 8.27%
IWR
- 1D
- 2.63%
- 1M
- -5.34%
- YTD
- 1.27%
- 6M
- 1.38%
- 1Y
- 15.79%
- 3Y*
- 13.14%
- 5Y*
- 6.77%
- 10Y*
- 10.69%
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IPO vs. IWR - Expense Ratio Comparison
IPO has a 0.60% expense ratio, which is higher than IWR's 0.19% expense ratio.
Return for Risk
IPO vs. IWR — Risk / Return Rank
IPO
IWR
IPO vs. IWR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Renaissance IPO ETF (IPO) and iShares Russell Midcap ETF (IWR). 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.
| IPO | IWR | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.37 | 0.83 | -0.46 |
Sortino ratioReturn per unit of downside risk | 0.76 | 1.28 | -0.52 |
Omega ratioGain probability vs. loss probability | 1.09 | 1.18 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | 0.45 | 1.22 | -0.78 |
Martin ratioReturn relative to average drawdown | 1.07 | 5.67 | -4.61 |
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
| IPO | IWR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.37 | 0.83 | -0.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.22 | 0.37 | -0.59 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.27 | 0.55 | -0.29 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 0.47 | -0.25 |
Correlation
The correlation between IPO and IWR is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
IPO vs. IWR - Dividend Comparison
IPO's dividend yield for the trailing twelve months is around 0.62%, less than IWR's 1.28% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IPO Renaissance IPO ETF | 0.62% | 0.66% | 0.12% | 0.00% | 0.00% | 0.00% | 0.10% | 0.26% | 0.49% | 0.43% | 0.40% | 0.11% |
IWR iShares Russell Midcap ETF | 1.28% | 1.29% | 1.27% | 1.43% | 1.59% | 1.04% | 1.28% | 1.43% | 1.98% | 1.52% | 1.72% | 1.59% |
Drawdowns
IPO vs. IWR - Drawdown Comparison
The maximum IPO drawdown since its inception was -68.76%, which is greater than IWR's maximum drawdown of -58.78%. Use the drawdown chart below to compare losses from any high point for IPO and IWR.
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Drawdown Indicators
| IPO | IWR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.76% | -58.78% | -9.98% |
Max Drawdown (1Y)Largest decline over 1 year | -26.24% | -13.38% | -12.86% |
Max Drawdown (5Y)Largest decline over 5 years | -66.02% | -26.18% | -39.84% |
Max Drawdown (10Y)Largest decline over 10 years | -68.76% | -40.59% | -28.17% |
Current DrawdownCurrent decline from peak | -44.53% | -5.75% | -38.78% |
Average DrawdownAverage peak-to-trough decline | -22.77% | -7.85% | -14.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.01% | 2.89% | +8.12% |
Volatility
IPO vs. IWR - Volatility Comparison
Renaissance IPO ETF (IPO) has a higher volatility of 10.75% compared to iShares Russell Midcap ETF (IWR) at 5.53%. This indicates that IPO's price experiences larger fluctuations and is considered to be riskier than IWR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IPO | IWR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.75% | 5.53% | +5.22% |
Volatility (6M)Calculated over the trailing 6-month period | 22.44% | 10.46% | +11.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.74% | 19.07% | +13.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.81% | 18.25% | +17.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.27% | 19.35% | +11.92% |