IWC vs. IVV

Last updated Jun 4, 2026

IWC (iShares Micro-Cap ETF) and IVV (iShares Core S&P 500 ETF) are both exchange-traded funds - IWC is a Small Cap Blend Equities fund tracking the Russell Microcap Index, while IVV is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, IWC returned 11.35%/yr vs 15.54%/yr for IVV. A 0.79 correlation means they provide meaningful diversification when combined. IWC charges 0.60%/yr vs 0.03%/yr for IVV.

Performance

IWC vs. IVV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Micro-Cap ETF (IWC) and iShares Core S&P 500 ETF (IVV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IWC achieves a 18.97% return, which is significantly higher than IVV's 10.85% return. Over the past 10 years, IWC has underperformed IVV with an annualized return of 11.35%, while IVV has yielded a comparatively higher 15.54% annualized return.

IWC

• 1D: -2.09%
• 1M: 2.88%
• YTD: 18.97%
• 6M: 18.63%
• 1Y: 55.24%
• 3Y*: 21.73%
• 5Y*: 5.45%
• 10Y*: 11.35%

IVV

• 1D: -0.76%
• 1M: 4.97%
• YTD: 10.85%
• 6M: 10.87%
• 1Y: 28.00%
• 3Y*: 22.43%
• 5Y*: 13.88%
• 10Y*: 15.54%

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

IWC vs. IVV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IWC iShares Micro-Cap ETF	18.97%	22.45%	13.63%	8.99%	-21.93%	18.67%	20.88%	22.20%	-13.13%	12.79%
IVV iShares Core S&P 500 ETF	10.85%	17.85%	24.93%	26.31%	-18.16%	28.76%	18.40%	31.07%	-4.49%	21.75%

Correlation

The correlation between IWC and IVV is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Aug 17, 2005	0.79

The correlation between IWC and IVV has been stable across timeframes, ranging from 0.71 to 0.79 - a consistent structural relationship.

IWC vs. IVV - Sectors Allocation Comparison

Sectors	IWC	IVV
Healthcare	28.1%	8.5%
Technology	18.4%	35.6%
Financial Services	18.1%	11.8%
Industrials	13.3%	8.3%
Consumer Cyclical	5.3%	10.1%
Energy	4.7%	3.5%
Basic Materials	4.4%	1.8%
Real Estate	3.5%	1.9%
Consumer Defensive	1.9%	4.9%
Communication Services	1.8%	11.2%
Utilities	0.6%	2.4%

Return for Risk

IWC vs. IVV — Risk / Return Rank

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

IWC

IWC Risk / Return Rank: 71
IWC Sharpe Ratio Rank: 71
IWC Sortino Ratio Rank: 66
IWC Omega Ratio Rank: 59
IWC Calmar Ratio Rank: 83
IWC Martin Ratio Rank: 76

IVV

IVV Risk / Return Rank: 70
IVV Sharpe Ratio Rank: 71
IVV Sortino Ratio Rank: 70
IVV Omega Ratio Rank: 70
IVV Calmar Ratio Rank: 62
IVV Martin Ratio Rank: 75

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.

IWC vs. IVV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Micro-Cap ETF (IWC) and iShares Core S&P 500 ETF (IVV). 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.

	IWC	IVV	Difference
Sharpe ratio: Return per unit of total volatility	2.36	2.39	-0.03
Sortino ratio: Return per unit of downside risk	3.10	3.25	-0.15
Omega ratio: Gain probability vs. loss probability	1.37	1.43	-0.07
Calmar ratio: Return relative to maximum drawdown	4.47	3.17	+1.30
Martin ratio: Return relative to average drawdown	14.76	14.71	+0.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IWC vs. IVV - Sharpe Ratio Comparison

The current IWC Sharpe Ratio is 2.36, which is comparable to the IVV Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of IWC and IVV, 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

	IWC	IVV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.36	2.39	-0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.22	0.83	-0.60
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	0.86	-0.40
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.45	-0.14

Drawdowns

IWC vs. IVV - Drawdown Comparison

The maximum IWC drawdown since its inception was -64.61%, which is greater than IVV's maximum drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for IWC and IVV.

Drawdown Indicators

	IWC	IVV	Difference
Max Drawdown Largest peak-to-trough decline	-64.61%	-55.25%	-9.36%
Max Drawdown (1Y) Largest decline over 1 year	-12.43%	-8.89%	-3.54%
Max Drawdown (3Y) Largest decline over 3 years	-29.46%	-18.75%	-10.71%
Max Drawdown (5Y) Largest decline over 5 years	-40.68%	-24.53%	-16.15%
Max Drawdown (10Y) Largest decline over 10 years	-47.21%	-33.90%	-13.31%
Current Drawdown Current decline from peak	-2.90%	-0.76%	-2.14%
Average Drawdown Average peak-to-trough decline	-15.28%	-10.78%	-4.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.75%	1.91%	+1.84%

Volatility

IWC vs. IVV - Volatility Comparison

iShares Micro-Cap ETF (IWC) has a higher volatility of 7.29% compared to iShares Core S&P 500 ETF (IVV) at 2.87%. This indicates that IWC's price experiences larger fluctuations and is considered to be riskier than IVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWC	IVV	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.29%	2.87%	+4.42%
Volatility (6M) Calculated over the trailing 6-month period	17.26%	8.90%	+8.36%
Volatility (1Y) Calculated over the trailing 1-year period	23.63%	11.80%	+11.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.42%	16.88%	+7.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.42%	18.05%	+6.37%

IWC vs. IVV - Expense Ratio Comparison

IWC has a 0.60% expense ratio, which is higher than IVV's 0.03% expense ratio.

Dividends

IWC vs. IVV - Dividend Comparison

IWC's dividend yield for the trailing twelve months is around 0.91%, less than IVV's 1.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVV iShares Core S&P 500 ETF	1.06%	1.17%	1.30%	1.44%	1.66%	1.20%	1.57%	1.85%	2.21%	1.75%	2.01%	2.27%
IWC iShares Micro-Cap ETF	0.91%	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

Can I hold both IWC and IVV in my portfolio?

IWC and IVV have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IWC or IVV?

IWC has higher volatility (7.29%) compared to IVV (2.87%). In terms of maximum drawdown, IWC dropped -64.61% vs IVV's -55.25%.

Which ETF is better, IWC or IVV?

On 10-year performance, IVV leads with 15.54% vs 11.35% for IWC. On fees, IVV is cheaper at 0.03% per year. On volatility, IVV has been the lower-risk option at 2.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IWC or IVV?

Over the 10-year period, IVV has performed better with a 15.54% return vs 11.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IWC or IVV?

IVV is cheaper with a 0.03% expense ratio, compared with 0.60% for IWC.

Which ETF pays a higher dividend yield, IWC or IVV?

IVV has the higher dividend yield at 1.06%, compared with 0.91% for IWC.

What is the main difference between IWC and IVV?

IWC is categorized as Small Cap Blend Equities, while IVV is S&P 500. IWC tracks Russell Microcap Index, while IVV tracks S&P 500 Index. Their fees differ too: 0.60% for IWC and 0.03% for IVV.

Which has better risk-adjusted returns?

IVV currently has the higher Sharpe Ratio (2.39 vs 2.36), 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.