IWC vs. PVIVX
IWC (iShares Micro-Cap ETF) and PVIVX (Paradigm Micro-cap Fund) are both Small Cap Blend Equities funds. Over the past 10 years, IWC returned 12.07%/yr vs 15.15%/yr for PVIVX. Their correlation of 0.87 suggests significant overlap in exposure. IWC charges 0.60%/yr vs 1.25%/yr for PVIVX.
Performance
IWC vs. PVIVX - Performance Comparison
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Returns By Period
In the year-to-date period, IWC achieves a 23.36% return, which is significantly lower than PVIVX's 37.88% return. Over the past 10 years, IWC has underperformed PVIVX with an annualized return of 12.07%, while PVIVX has yielded a comparatively higher 15.15% annualized return.
IWC
- 1D
- 0.82%
- 1M
- 4.00%
- YTD
- 23.36%
- 6M
- 19.51%
- 1Y
- 59.41%
- 3Y*
- 23.10%
- 5Y*
- 6.01%
- 10Y*
- 12.07%
PVIVX
- 1D
- 3.09%
- 1M
- 9.36%
- YTD
- 37.88%
- 6M
- 34.96%
- 1Y
- 53.90%
- 3Y*
- 15.79%
- 5Y*
- 8.09%
- 10Y*
- 15.15%
IWC vs. PVIVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IWC iShares Micro-Cap ETF | 23.36% | 22.45% | 13.63% | 8.99% | -21.93% | 18.67% | 20.88% | 22.20% | -13.13% | 12.79% |
PVIVX Paradigm Micro-cap Fund | 37.88% | -4.81% | 13.48% | 17.89% | -20.62% | 27.94% | 46.96% | 22.38% | -10.88% | 15.82% |
Correlation
The correlation between IWC and PVIVX is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Jan 8, 2008 | 0.87 |
The correlation between IWC and PVIVX shifts across timeframes, from 0.75 (1 year) to 0.87 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IWC vs. PVIVX — Risk / Return Rank
IWC
PVIVX
IWC vs. PVIVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Micro-Cap ETF (IWC) and Paradigm Micro-cap Fund (PVIVX). 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 | PVIVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.40 | ||
| Sortino ratioReturn per unit of downside risk | +0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.34 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 4.80 | 3.55 | +1.25 |
| Martin ratioReturn relative to average drawdown | 15.64 | 11.26 | +4.38 |
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Drawdowns
IWC vs. PVIVX - Drawdown Comparison
The maximum IWC drawdown since its inception was -64.61%, smaller than the maximum PVIVX drawdown of -95.67%. Use the drawdown chart below to compare losses from any high point for IWC and PVIVX.
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Drawdown Indicators
| IWC | PVIVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.61% | -95.67% | +31.06% |
Max Drawdown (1Y)Largest decline over 1 year | -12.43% | -14.84% | +2.41% |
Max Drawdown (3Y)Largest decline over 3 years | -29.46% | -95.67% | +66.21% |
Max Drawdown (5Y)Largest decline over 5 years | -40.61% | -95.67% | +55.06% |
Max Drawdown (10Y)Largest decline over 10 years | -47.21% | -95.67% | +48.46% |
Current DrawdownCurrent decline from peak | 0.00% | -92.43% | +92.43% |
Average DrawdownAverage peak-to-trough decline | -15.25% | -17.08% | +1.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.81% | 4.68% | -0.87% |
Volatility
IWC vs. PVIVX - Volatility Comparison
iShares Micro-Cap ETF (IWC) and Paradigm Micro-cap Fund (PVIVX) have volatilities of 8.66% and 8.95%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWC | PVIVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.66% | 8.95% | -0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 18.16% | 18.42% | -0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.39% | 25.69% | -1.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.58% | 887.36% | -862.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.52% | 627.54% | -603.02% |
IWC vs. PVIVX - Expense Ratio Comparison
IWC has a 0.60% expense ratio, which is lower than PVIVX's 1.25% expense ratio.
Dividends
IWC vs. PVIVX - Dividend Comparison
IWC's dividend yield for the trailing twelve months is around 0.98%, less than PVIVX's 11.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
PVIVX Paradigm Micro-cap Fund | 11.55% | 15.93% | 6.40% | 0.00% | 0.00% | 1.11% | 5.25% | 0.01% | 14.09% | 6.88% | 3.61% | 1.32% |
Frequently Asked Questions
IWC and PVIVX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PVIVX has higher volatility (8.95%) compared to IWC (8.66%). In terms of maximum drawdown, IWC dropped -64.61% vs PVIVX's -95.67%.
IWC currently has the higher Sharpe Ratio (2.45 vs 2.05), 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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