IVLU vs. IWP

Last updated Jul 21, 2026

IVLU (iShares MSCI International Value Factor ETF) and IWP (iShares Russell Mid-Cap Growth ETF) are both exchange-traded funds - IVLU is a Foreign Large Cap Equities fund tracking the MSCI World ex USA Enhanced Value Index, while IWP is a Mid Cap Growth Equities fund tracking the Russell Midcap Growth Index. Both are passively managed. Over the past 10 years, IVLU returned 11.00%/yr vs 11.64%/yr for IWP. A 0.59 correlation means they provide meaningful diversification when combined. IVLU charges 0.30%/yr vs 0.23%/yr for IWP.

Performance

IVLU vs. IWP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI International Value Factor ETF (IVLU) and iShares Russell Mid-Cap Growth ETF (IWP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IVLU achieves a 11.76% return, which is significantly higher than IWP's 0.63% return. Over the past 10 years, IVLU has underperformed IWP with an annualized return of 11.00%, while IWP has yielded a comparatively higher 11.64% annualized return.

IVLU

• 1D: -0.71%
• 1M: -0.90%
• 6M: 7.68%
• YTD: 11.76%
• 1Y: 32.99%
• 3Y*: 21.66%
• 5Y*: 15.04%
• 10Y*: 11.00%
• ALL TIME*: 8.40%

IWP

• 1D: 0.00%
• 1M: -3.07%
• 6M: -2.52%
• YTD: 0.63%
• 1Y: -1.82%
• 3Y*: 12.07%
• 5Y*: 4.51%
• 10Y*: 11.64%
• ALL TIME*: 9.13%

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

IVLU vs. IWP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IVLU iShares MSCI International Value Factor ETF	11.76%	46.09%	6.76%	20.07%	-5.73%	15.60%	-4.50%	15.60%	-15.10%	23.10%
IWP iShares Russell Mid-Cap Growth ETF	0.63%	8.45%	21.86%	25.70%	-26.90%	12.60%	35.25%	35.04%	-4.89%	24.93%

Correlation

The correlation between IVLU and IWP is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (10Y) Calculated over the trailing 10-year period	0.60
Correlation (All Time) Calculated using the full available price history since Jul 15, 2015	0.59

The correlation between IVLU and IWP has been stable across timeframes, ranging from 0.53 to 0.60 - a consistent structural relationship.

IVLU vs. IWP - Sectors Allocation Comparison

Sectors	IVLU	IWP
Financial Services	29.1%	3.9%
Industrials	17.4%	20.7%
Technology	9.9%	33.5%
Healthcare	9.7%	13.2%
Basic Materials	7.1%	1.6%
Consumer Cyclical	6.7%	13.3%
Consumer Defensive	5.9%	1.2%
Energy	5.3%	4.3%
Utilities	3.6%	2.7%
Communication Services	3.5%	3.3%
Real Estate	1.4%	2.2%

Return for Risk

IVLU vs. IWP — Risk / Return Rank

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

IVLU

IVLU Risk / Return Rank: 81
IVLU Sharpe Ratio Rank: 86
IVLU Sortino Ratio Rank: 85
IVLU Omega Ratio Rank: 83
IVLU Calmar Ratio Rank: 75
IVLU Martin Ratio Rank: 78

IWP

IWP Risk / Return Rank: 9
IWP Sharpe Ratio Rank: 9
IWP Sortino Ratio Rank: 9
IWP Omega Ratio Rank: 9
IWP Calmar Ratio Rank: 9
IWP Martin Ratio Rank: 8

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.

IVLU vs. IWP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI International Value Factor ETF (IVLU) and iShares Russell Mid-Cap Growth ETF (IWP). 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.

	IVLU	IWP	Difference
Sharpe ratio: Return per unit of total volatility	2.12	-0.11	+2.22
Sortino ratio: Return per unit of downside risk	2.92	-0.03	+2.95
Omega ratio: Gain probability vs. loss probability	1.38	1.00	+0.38
Calmar ratio: Return relative to maximum drawdown	2.83	-0.12	+2.96
Martin ratio: Return relative to average drawdown	10.70	-0.35	+11.05

IVLU vs. IWP - Sharpe Ratio Comparison

The current IVLU Sharpe Ratio is 2.12, which is higher than the IWP Sharpe Ratio of -0.11. The chart below compares the historical Sharpe Ratios of IVLU and IWP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IVLU vs. IWP - Drawdown Comparison

The maximum IVLU drawdown since its inception was -41.85%, smaller than the maximum IWP drawdown of -56.92%. Use the drawdown chart below to compare losses from any high point for IVLU and IWP.

Drawdown Indicators

	IVLU	IWP	Difference
Max Drawdown Largest peak-to-trough decline	-41.85%	-56.92%	+15.07%
Max Drawdown (1Y) Largest decline over 1 year	-11.69%	-14.79%	+3.10%
Max Drawdown (3Y) Largest decline over 3 years	-15.48%	-25.20%	+9.72%
Max Drawdown (5Y) Largest decline over 5 years	-26.04%	-38.62%	+12.58%
Max Drawdown (10Y) Largest decline over 10 years	-41.85%	-38.62%	-3.23%
Current Drawdown Current decline from peak	-2.38%	-6.02%	+3.64%
Average Drawdown Average peak-to-trough decline	-8.51%	-9.65%	+1.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.09%	5.19%	-2.10%

Volatility

IVLU vs. IWP - Volatility Comparison

The current volatility for iShares MSCI International Value Factor ETF (IVLU) is 3.99%, while iShares Russell Mid-Cap Growth ETF (IWP) has a volatility of 5.06%. This indicates that IVLU experiences smaller price fluctuations and is considered to be less risky than IWP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IVLU	IWP	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.99%	5.06%	-1.07%
Volatility (6M) Calculated over the trailing 6-month period	13.18%	13.78%	-0.60%
Volatility (1Y) Calculated over the trailing 1-year period	15.69%	17.32%	-1.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.48%	22.44%	-5.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.37%	21.69%	-4.32%

IVLU vs. IWP - Expense Ratio Comparison

IVLU has a 0.30% expense ratio, which is higher than IWP's 0.23% expense ratio.

Dividends

IVLU vs. IWP - Dividend Comparison

IVLU's dividend yield for the trailing twelve months is around 3.36%, more than IWP's 0.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVLU iShares MSCI International Value Factor ETF	3.36%	3.71%	4.46%	4.69%	3.59%	3.47%	2.05%	3.53%	2.82%	2.87%	2.53%	0.93%
IWP iShares Russell Mid-Cap Growth ETF	0.36%	0.37%	0.40%	0.54%	0.77%	0.30%	0.38%	0.59%	1.02%	0.78%	1.16%	0.98%

Frequently Asked Questions

Can I hold both IVLU and IWP in my portfolio?

IVLU and IWP have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IVLU or IWP?

IWP has higher volatility (5.06%) compared to IVLU (3.99%). In terms of maximum drawdown, IVLU dropped -41.85% vs IWP's -56.92%.

Which ETF is better, IVLU or IWP?

On 10-year performance, IWP leads with 11.64% vs 11.00% for IVLU. On fees, IWP is cheaper at 0.23% per year. On volatility, IVLU has been the lower-risk option at 3.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IVLU or IWP?

Over the 10-year period, IWP has performed better with a 11.64% return vs 11.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IVLU or IWP?

IWP is cheaper with a 0.23% expense ratio, compared with 0.30% for IVLU.

Which ETF pays a higher dividend yield, IVLU or IWP?

IVLU has the higher dividend yield at 3.36%, compared with 0.36% for IWP.

What is the main difference between IVLU and IWP?

IVLU is categorized as Foreign Large Cap Equities, while IWP is Mid Cap Growth Equities. IVLU tracks MSCI World ex USA Enhanced Value Index, while IWP tracks Russell Midcap Growth Index. Their fees differ too: 0.30% for IVLU and 0.23% for IWP.

Which has better risk-adjusted returns?

IVLU currently has the higher Sharpe Ratio (2.12 vs -0.11), 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.