IWC vs. ISMD
IWC (iShares Micro-Cap ETF) and ISMD (Inspire Small/Mid Cap Impact ETF) are both Small Cap Blend Equities funds - IWC tracks the Russell Microcap Index while ISMD tracks the Inspire Small/Mid Cap Impact Equal Weight Index. Both are passively managed. Over the past 5 years, IWC returned 6.69%/yr vs 9.57%/yr for ISMD. Their correlation of 0.86 means they have usually moved in the same direction. IWC charges 0.60%/yr vs 0.57%/yr for ISMD.
Performance
IWC vs. ISMD - Performance Comparison
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Returns By Period
In the year-to-date period, IWC achieves a 19.50% return, which is significantly lower than ISMD's 27.66% return.
IWC
- 1D
- -0.70%
- 1M
- -5.03%
- 6M
- 12.92%
- YTD
- 19.50%
- 1Y
- 48.46%
- 3Y*
- 19.06%
- 5Y*
- 6.69%
- 10Y*
- 11.12%
- ALL TIME*
- 7.67%
ISMD
- 1D
- -0.28%
- 1M
- -0.59%
- 6M
- 18.90%
- YTD
- 27.66%
- 1Y
- 41.09%
- 3Y*
- 14.14%
- 5Y*
- 9.57%
- 10Y*
- —
- ALL TIME*
- 9.85%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.42M | $2.34M | $1.91M | |
| $9.94M | $13.29M | $20.50M |
IWC vs. ISMD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IWC iShares Micro-Cap ETF | 19.50% | 22.45% | 13.63% | 8.99% | -21.93% | 18.67% | 20.88% | 22.20% | -13.13% | 12.25% |
ISMD Inspire Small/Mid Cap Impact ETF | 27.66% | 4.14% | 9.53% | 16.74% | -13.44% | 29.38% | 7.45% | 24.62% | -12.63% | 8.73% |
Correlation
The correlation between IWC and ISMD is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.79 |
Correlation (3Y) Balances recent behavior with more history. | 0.86 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.88 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2017 | 0.86 |
The correlation between IWC and ISMD has been stable across timeframes, ranging from 0.79 to 0.88 - a consistent structural relationship.
IWC vs. ISMD - Sectors Allocation Comparison
Sectors
IWC
ISMD
Healthcare
Financial Services
Industrials
Technology
Consumer Cyclical
Basic Materials
Real Estate
Energy
Communication Services
Consumer Defensive
Utilities
Healthcare
IWC
ISMD
Financial Services
IWC
ISMD
Industrials
IWC
ISMD
Technology
IWC
ISMD
Consumer Cyclical
IWC
ISMD
Basic Materials
IWC
ISMD
Real Estate
IWC
ISMD
Energy
IWC
ISMD
Communication Services
IWC
ISMD
Consumer Defensive
IWC
ISMD
Utilities
IWC
ISMD
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Return for Risk
IWC vs. ISMD — Risk / Return Rank
IWC
ISMD
IWC vs. ISMD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Micro-Cap ETF (IWC) and Inspire Small/Mid Cap Impact ETF (ISMD). 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 | ISMD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.25 | ||
| Sortino ratioReturn per unit of downside risk | -0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.37 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.67 | 4.03 | -0.36 |
| Martin ratioReturn relative to average drawdown | 11.65 | 13.05 | -1.40 |
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Drawdowns
IWC vs. ISMD - Drawdown Comparison
The maximum IWC drawdown since its inception was -64.61%, which is greater than ISMD's maximum drawdown of -44.60%. Use the drawdown chart below to compare losses from any high point for IWC and ISMD.
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Drawdown Indicators
| IWC | ISMD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.61% | -44.60% | -20.01% |
Max Drawdown (1Y)Largest decline over 1 year | -12.43% | -9.64% | -2.79% |
Max Drawdown (3Y)Largest decline over 3 years | -29.46% | -26.64% | -2.82% |
Max Drawdown (5Y)Largest decline over 5 years | -40.61% | -26.64% | -13.97% |
Max Drawdown (10Y)Largest decline over 10 years | -47.21% | — | — |
Current DrawdownCurrent decline from peak | -6.31% | -2.21% | -4.10% |
Average DrawdownAverage peak-to-trough decline | -15.18% | -8.05% | -7.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.91% | 2.97% | +0.94% |
Volatility
IWC vs. ISMD - Volatility Comparison
iShares Micro-Cap ETF (IWC) has a higher volatility of 4.63% compared to Inspire Small/Mid Cap Impact ETF (ISMD) at 3.68%. This indicates that IWC's price experiences larger fluctuations and is considered to be riskier than ISMD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWC | ISMD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.63% | 3.68% | +0.95% |
Volatility (6M)Calculated over the trailing 6-month period | 18.22% | 12.55% | +5.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.13% | 18.22% | +5.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.46% | 20.76% | +3.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.48% | 23.62% | +0.86% |
IWC vs. ISMD - Expense Ratio Comparison
IWC has a 0.60% expense ratio, which is higher than ISMD's 0.57% expense ratio.
Dividends
IWC vs. ISMD - Dividend Comparison
IWC's dividend yield for the trailing twelve months is around 1.01%, less than ISMD's 1.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISMD Inspire Small/Mid Cap Impact ETF | 1.12% | 1.21% | 1.24% | 1.17% | 1.28% | 9.35% | 0.99% | 0.88% | 1.35% | 2.02% | 0.00% | 0.00% |
IWC iShares Micro-Cap ETF | 1.01% | 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 ISMD have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IWC has higher volatility (4.63%) compared to ISMD (3.68%). In terms of maximum drawdown, IWC dropped -64.61% vs ISMD's -44.60%.
On 5-year performance, ISMD leads with 9.57% vs 6.69% for IWC. On fees, ISMD is cheaper at 0.57% per year. On volatility, ISMD has been the lower-risk option at 3.68%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, ISMD has performed better with a 9.57% return vs 6.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ISMD is cheaper with a 0.57% expense ratio, compared with 0.60% for IWC.
ISMD has the higher dividend yield at 1.12%, compared with 1.01% for IWC.
IWC tracks Russell Microcap Index, while ISMD tracks Inspire Small/Mid Cap Impact Equal Weight Index. They also come from different issuers: iShares and Inspire. Their fees differ too: 0.60% for IWC and 0.57% for ISMD.
ISMD currently has the higher Sharpe Ratio (2.14 vs 1.89), 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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