ISTM vs. IWM

Last updated Jun 4, 2026

ISTM (iShares Strategic Metals ETF) and IWM (iShares Russell 2000 ETF) are both exchange-traded funds - ISTM is a Metals fund tracking the ICE Strategic Re-Industrialization Metals Index, while IWM is a Small Cap Blend Equities fund tracking the Russell 2000 Index. Both are passively managed. Over the past year, ISTM returned 58.68% vs 39.10% for IWM. At a 0.28 correlation, their price movements are largely independent. ISTM charges 0.49%/yr vs 0.19%/yr for IWM.

Performance

ISTM vs. IWM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Strategic Metals ETF (ISTM) and iShares Russell 2000 ETF (IWM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ISTM achieves a 13.15% return, which is significantly lower than IWM's 17.07% return.

ISTM

• 1D: -2.14%
• 1M: 4.48%
• YTD: 13.15%
• 6M: 24.67%
• 1Y: 58.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IWM

• 1D: -1.37%
• 1M: 3.52%
• YTD: 17.07%
• 6M: 15.83%
• 1Y: 39.10%
• 3Y*: 17.88%
• 5Y*: 6.11%
• 10Y*: 10.93%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ISTM vs. IWM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ISTM iShares Strategic Metals ETF	13.15%	54.07%	6.95%	2.69%
IWM iShares Russell 2000 ETF	17.07%	12.66%	11.38%	13.44%

Correlation

The correlation between ISTM and IWM is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (All Time) Calculated using the full available price history since Sep 29, 2023	0.28

Return for Risk

ISTM vs. IWM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ISTM

ISTM Risk / Return Rank: 52
ISTM Sharpe Ratio Rank: 58
ISTM Sortino Ratio Rank: 45
ISTM Omega Ratio Rank: 59
ISTM Calmar Ratio Rank: 54
ISTM Martin Ratio Rank: 42

IWM

IWM Risk / Return Rank: 62
IWM Sharpe Ratio Rank: 59
IWM Sortino Ratio Rank: 59
IWM Omega Ratio Rank: 53
IWM Calmar Ratio Rank: 70
IWM Martin Ratio Rank: 67

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ISTM vs. IWM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Strategic Metals ETF (ISTM) 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.

	ISTM	IWM	Difference
Sharpe ratio Return per unit of total volatility	1.92	2.05	-0.13
Sortino ratio Return per unit of downside risk	2.20	2.85	-0.66
Omega ratio Gain probability vs. loss probability	1.36	1.34	+0.02
Calmar ratio Return relative to maximum drawdown	2.66	3.56	-0.91
Martin ratio Return relative to average drawdown	6.65	12.64	-5.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ISTM vs. IWM - Sharpe Ratio Comparison

The current ISTM Sharpe Ratio is 1.92, which is comparable to the IWM Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of ISTM and IWM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ISTM	IWM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.92	2.05	-0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.27	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.15	0.37	+0.78

Drawdowns

ISTM vs. IWM - Drawdown Comparison

The maximum ISTM drawdown since its inception was -22.20%, smaller than the maximum IWM drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for ISTM and IWM.

Drawdown Indicators

	ISTM	IWM	Difference
Max Drawdown Largest peak-to-trough decline	-22.20%	-59.05%	+36.85%
Max Drawdown (1Y) Largest decline over 1 year	-22.20%	-11.03%	-11.17%
Max Drawdown (3Y) Largest decline over 3 years	—	-27.50%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-31.91%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.13%	—
Current Drawdown Current decline from peak	-11.03%	-1.49%	-9.54%
Average Drawdown Average peak-to-trough decline	-6.49%	-10.77%	+4.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.85%	3.10%	+5.75%

Volatility

ISTM vs. IWM - Volatility Comparison

iShares Strategic Metals ETF (ISTM) has a higher volatility of 8.76% compared to iShares Russell 2000 ETF (IWM) at 5.75%. This indicates that ISTM's price experiences larger fluctuations and is considered to be riskier than IWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ISTM	IWM	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.76%	5.75%	+3.01%
Volatility (6M) Calculated over the trailing 6-month period	28.06%	13.53%	+14.53%
Volatility (1Y) Calculated over the trailing 1-year period	30.67%	19.20%	+11.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.11%	22.52%	+1.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.11%	23.04%	+1.07%

ISTM vs. IWM - Expense Ratio Comparison

ISTM has a 0.49% expense ratio, which is higher than IWM's 0.19% expense ratio.

Dividends

ISTM vs. IWM - Dividend Comparison

ISTM's dividend yield for the trailing twelve months is around 13.06%, more than IWM's 0.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ISTM iShares Strategic Metals ETF	13.06%	14.78%	29.62%	1.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IWM iShares Russell 2000 ETF	0.88%	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

Can I hold both ISTM and IWM in my portfolio?

ISTM and IWM have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ISTM or IWM?

ISTM has higher volatility (8.76%) compared to IWM (5.75%). In terms of maximum drawdown, ISTM dropped -22.20% vs IWM's -59.05%.

Which ETF is better, ISTM or IWM?

On 1-year performance, ISTM leads with 58.68% vs 39.10% for IWM. On fees, IWM is cheaper at 0.19% per year. On volatility, IWM has been the lower-risk option at 5.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ISTM or IWM?

Over the 1-year period, ISTM has performed better with a 58.68% return vs 39.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ISTM or IWM?

IWM is cheaper with a 0.19% expense ratio, compared with 0.49% for ISTM.

Which ETF pays a higher dividend yield, ISTM or IWM?

ISTM has the higher dividend yield at 13.06%, compared with 0.88% for IWM.

What is the main difference between ISTM and IWM?

ISTM is categorized as Metals, while IWM is Small Cap Blend Equities. ISTM tracks ICE Strategic Re-Industrialization Metals Index, while IWM tracks Russell 2000 Index. Their fees differ too: 0.49% for ISTM and 0.19% for IWM.

Which has better risk-adjusted returns?

IWM currently has the higher Sharpe Ratio (2.05 vs 1.92), 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.