ISHG vs. IWM
ISHG (iShares 1-3 Year International Treasury Bond ETF) and IWM (iShares Russell 2000 ETF) are both exchange-traded funds - ISHG is a International Government Bonds fund tracking the S&P/Citigroup International Treasury Bond Index Ex-US 1-3 Year, while IWM is a Small Cap Blend Equities fund tracking the Russell 2000 Index. Both are passively managed. Over the past 10 years, ISHG returned -0.18%/yr vs 10.85%/yr for IWM. At a 0.18 correlation, their price movements are largely independent. ISHG charges 0.35%/yr vs 0.19%/yr for IWM.
Performance
ISHG vs. IWM - Performance Comparison
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Returns By Period
In the year-to-date period, ISHG achieves a -1.21% return, which is significantly lower than IWM's 20.74% return. Over the past 10 years, ISHG has underperformed IWM with an annualized return of -0.18%, while IWM has yielded a comparatively higher 10.85% annualized return.
ISHG
- 1D
- 0.06%
- 1M
- -1.04%
- 6M
- -0.60%
- YTD
- -1.21%
- 1Y
- -0.54%
- 3Y*
- 3.44%
- 5Y*
- -0.95%
- 10Y*
- -0.18%
IWM
- 1D
- -0.42%
- 1M
- 1.28%
- 6M
- 14.22%
- YTD
- 20.74%
- 1Y
- 34.90%
- 3Y*
- 17.34%
- 5Y*
- 6.83%
- 10Y*
- 10.85%
ISHG vs. IWM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ISHG iShares 1-3 Year International Treasury Bond ETF | -1.21% | 13.31% | -4.16% | 3.76% | -10.95% | -7.05% | 7.47% | -0.64% | -3.54% | 10.91% |
IWM iShares Russell 2000 ETF | 20.74% | 12.66% | 11.38% | 16.83% | -20.48% | 14.54% | 20.03% | 25.39% | -11.12% | 14.58% |
Correlation
The correlation between ISHG and IWM is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Jan 28, 2009 | 0.18 |
Over the past year, ISHG and IWM have become more correlated (0.40) than their long-term average of 0.18, meaning their price movements have been converging.
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Return for Risk
ISHG vs. IWM — Risk / Return Rank
ISHG
IWM
ISHG vs. IWM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 1-3 Year International Treasury Bond ETF (ISHG) and iShares Russell 2000 ETF (IWM). 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.
| ISHG | IWM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.83 | ||
| Sortino ratioReturn per unit of downside risk | -2.56 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.28 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.17 | 3.01 | -3.18 |
| Martin ratioReturn relative to average drawdown | -0.37 | 10.65 | -11.02 |
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Drawdowns
ISHG vs. IWM - Drawdown Comparison
The maximum ISHG drawdown since its inception was -37.24%, smaller than the maximum IWM drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for ISHG and IWM.
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Drawdown Indicators
| ISHG | IWM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.24% | -59.05% | +21.81% |
Max Drawdown (1Y)Largest decline over 1 year | -5.02% | -11.03% | +6.01% |
Max Drawdown (3Y)Largest decline over 3 years | -8.21% | -27.50% | +19.29% |
Max Drawdown (5Y)Largest decline over 5 years | -22.29% | -31.91% | +9.62% |
Max Drawdown (10Y)Largest decline over 10 years | -25.56% | -41.13% | +15.57% |
Current DrawdownCurrent decline from peak | -23.17% | -1.48% | -21.69% |
Average DrawdownAverage peak-to-trough decline | -18.46% | -10.73% | -7.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.29% | 3.12% | -0.83% |
Volatility
ISHG vs. IWM - Volatility Comparison
The current volatility for iShares 1-3 Year International Treasury Bond ETF (ISHG) is 1.58%, while iShares Russell 2000 ETF (IWM) has a volatility of 4.86%. This indicates that ISHG experiences smaller price fluctuations and is considered to be less risky than IWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ISHG | IWM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.58% | 4.86% | -3.28% |
Volatility (6M)Calculated over the trailing 6-month period | 4.92% | 14.19% | -9.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.49% | 19.54% | -13.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.59% | 22.56% | -14.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.91% | 23.00% | -16.09% |
ISHG vs. IWM - Expense Ratio Comparison
ISHG has a 0.35% expense ratio, which is higher than IWM's 0.19% expense ratio.
Dividends
ISHG vs. IWM - Dividend Comparison
ISHG's dividend yield for the trailing twelve months is around 1.47%, more than IWM's 0.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISHG iShares 1-3 Year International Treasury Bond ETF | 1.47% | 1.45% | 2.56% | 0.18% | 0.00% | 1.29% | 0.00% | 0.00% | 1.80% | 0.46% | 0.00% | 0.09% |
IWM iShares Russell 2000 ETF | 0.90% | 1.04% | 1.15% | 1.35% | 1.48% | 0.94% | 1.04% | 1.26% | 1.40% | 1.26% | 1.38% | 1.54% |
Frequently Asked Questions
ISHG and IWM have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IWM has higher volatility (4.86%) compared to ISHG (1.58%). In terms of maximum drawdown, ISHG dropped -37.24% vs IWM's -59.05%.
On 10-year performance, IWM leads with 10.85% vs -0.18% for ISHG. On fees, IWM is cheaper at 0.19% per year. On volatility, ISHG has been the lower-risk option at 1.58%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IWM has performed better with a 10.85% return vs -0.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IWM is cheaper with a 0.19% expense ratio, compared with 0.35% for ISHG.
ISHG has the higher dividend yield at 1.47%, compared with 0.90% for IWM.
ISHG is categorized as International Government Bonds, while IWM is Small Cap Blend Equities. ISHG tracks S&P/Citigroup International Treasury Bond Index Ex-US 1-3 Year, while IWM tracks Russell 2000 Index. Their fees differ too: 0.35% for ISHG and 0.19% for IWM.
IWM currently has the higher Sharpe Ratio (1.70 vs -0.13), 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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