IWC vs. ASCE
IWC (iShares Micro-Cap ETF) and ASCE (Allspring SMID Core ETF) are both Small Cap Blend Equities funds. IWC is passively managed, while ASCE is actively managed. Over the past year, IWC returned 48.46% vs 36.63% for ASCE. Their correlation of 0.81 suggests significant overlap in exposure. IWC charges 0.60%/yr vs 0.38%/yr for ASCE.
Performance
IWC vs. ASCE - Performance Comparison
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Returns By Period
In the year-to-date period, IWC achieves a 23.21% return, which is significantly lower than ASCE's 25.79% return.
IWC
- 1D
- -1.02%
- 1M
- 2.50%
- 6M
- 16.07%
- YTD
- 23.21%
- 1Y
- 48.46%
- 3Y*
- 21.80%
- 5Y*
- 7.27%
- 10Y*
- 11.37%
ASCE
- 1D
- -1.03%
- 1M
- -2.51%
- 6M
- 19.63%
- YTD
- 25.79%
- 1Y
- 36.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IWC vs. ASCE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IWC iShares Micro-Cap ETF | 23.21% | 20.90% |
ASCE Allspring SMID Core ETF | 25.79% | 8.46% |
Correlation
The correlation between IWC and ASCE is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Jul 8, 2025 | 0.81 |
The correlation between IWC and ASCE has been stable across timeframes, ranging from 0.81 to 0.81 - a consistent structural relationship.
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Return for Risk
IWC vs. ASCE — Risk / Return Rank
IWC
ASCE
IWC vs. ASCE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Micro-Cap ETF (IWC) and Allspring SMID Core ETF (ASCE). 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.
| IWC | ASCE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.31 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.92 | 3.99 | -0.07 |
| Martin ratioReturn relative to average drawdown | 12.71 | 12.48 | +0.24 |
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Drawdowns
IWC vs. ASCE - Drawdown Comparison
The maximum IWC drawdown since its inception was -64.61%, which is greater than ASCE's maximum drawdown of -9.22%. Use the drawdown chart below to compare losses from any high point for IWC and ASCE.
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Drawdown Indicators
| IWC | ASCE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.61% | -9.22% | -55.39% |
Max Drawdown (1Y)Largest decline over 1 year | -12.43% | -9.22% | -3.21% |
Max Drawdown (3Y)Largest decline over 3 years | -29.46% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -40.61% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -47.21% | — | — |
Current DrawdownCurrent decline from peak | -3.40% | -4.17% | +0.77% |
Average DrawdownAverage peak-to-trough decline | -15.21% | -2.03% | -13.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.82% | 2.94% | +0.88% |
Volatility
IWC vs. ASCE - Volatility Comparison
The current volatility for iShares Micro-Cap ETF (IWC) is 5.99%, while Allspring SMID Core ETF (ASCE) has a volatility of 7.16%. This indicates that IWC experiences smaller price fluctuations and is considered to be less risky than ASCE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWC | ASCE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.99% | 7.16% | -1.17% |
Volatility (6M)Calculated over the trailing 6-month period | 18.27% | 14.91% | +3.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.27% | 19.75% | +4.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.53% | 19.65% | +4.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.47% | 19.65% | +4.82% |
IWC vs. ASCE - Expense Ratio Comparison
IWC has a 0.60% expense ratio, which is higher than ASCE's 0.38% expense ratio.
Dividends
IWC vs. ASCE - Dividend Comparison
IWC's dividend yield for the trailing twelve months is around 0.98%, more than ASCE's 0.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASCE Allspring SMID Core ETF | 0.17% | 0.22% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IWC iShares Micro-Cap ETF | 0.98% | 1.10% | 1.06% | 1.17% | 1.18% | 0.78% | 0.98% | 1.19% | 1.01% | 1.09% | 1.16% | 1.49% |
Frequently Asked Questions
IWC and ASCE have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ASCE has higher volatility (7.16%) compared to IWC (5.99%). In terms of maximum drawdown, IWC dropped -64.61% vs ASCE's -9.22%.
On 1-year performance, IWC leads with 48.46% vs 36.63% for ASCE. On fees, ASCE is cheaper at 0.38% per year. On volatility, IWC has been the lower-risk option at 5.99%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IWC has performed better with a 48.46% return vs 36.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ASCE is cheaper with a 0.38% expense ratio, compared with 0.60% for IWC.
IWC has the higher dividend yield at 0.98%, compared with 0.17% for ASCE.
They also come from different issuers: iShares and Allspring. Their fees differ too: 0.60% for IWC and 0.38% for ASCE.
IWC currently has the higher Sharpe Ratio (2.01 vs 1.87), 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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