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IWD vs. FVAL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IWD vs. FVAL

Last updated Jun 24, 2026

IWD (iShares Russell 1000 Value ETF) and FVAL (Fidelity Value Factor ETF) are both Large Cap Value Equities funds - IWD tracks the Russell 1000 Value Index while FVAL tracks the Fidelity U.S. Value Factor Index. Both are passively managed. Over the past 5 years, IWD returned 10.87%/yr vs 12.00%/yr for FVAL. Their correlation of 0.91 suggests significant overlap in exposure. IWD charges 0.18%/yr vs 0.15%/yr for FVAL.

Performance

IWD vs. FVAL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell 1000 Value ETF (IWD) and Fidelity Value Factor ETF (FVAL). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IWD achieves a 15.35% return, which is significantly higher than FVAL's 7.62% return.

IWD

1D
-1.06%
1M
2.28%
YTD
15.35%
6M
14.66%
1Y
28.22%
3Y*
18.41%
5Y*
10.87%
10Y*
11.61%

FVAL

1D
-0.92%
1M
-1.49%
YTD
7.62%
6M
6.75%
1Y
25.79%
3Y*
19.21%
5Y*
12.00%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

IWD vs. FVAL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IWD
iShares Russell 1000 Value ETF		15.35%15.68%14.17%11.34%-7.75%24.95%2.73%26.12%-8.45%13.45%
FVAL
Fidelity Value Factor ETF		7.62%19.56%18.05%23.10%-14.40%30.33%9.08%30.33%-7.87%22.49%

Correlation

The correlation between IWD and FVAL is 0.84, 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

0.84

Correlation (3Y)
Calculated over the trailing 3-year period

0.85

Correlation (5Y)
Calculated over the trailing 5-year period

0.90

Correlation (All Time)
Calculated using the full available price history since Sep 15, 2016

0.91

The correlation between IWD and FVAL has been stable across timeframes, ranging from 0.84 to 0.91 - a consistent structural relationship.

IWD vs. FVAL - Sectors Allocation Comparison

Sectors
IWD
FVAL

Technology

18.6%
36.1%

Financial Services

18.4%
11.7%

Industrials

12.5%
8.1%

Healthcare

10.6%
9.7%

Communication Services

8.1%
9.7%

Consumer Cyclical

7.1%
10.6%

Consumer Defensive

6.7%
4.4%

Energy

6.3%
3.4%

Utilities

4.0%
1.9%

Real Estate

3.9%
2.5%

Basic Materials

3.7%
2.0%

Technology

IWD
18.6%
FVAL
36.1%

Financial Services

IWD
18.4%
FVAL
11.7%

Industrials

IWD
12.5%
FVAL
8.1%

Healthcare

IWD
10.6%
FVAL
9.7%

Communication Services

IWD
8.1%
FVAL
9.7%

Consumer Cyclical

IWD
7.1%
FVAL
10.6%

Consumer Defensive

IWD
6.7%
FVAL
4.4%

Energy

IWD
6.3%
FVAL
3.4%

Utilities

IWD
4.0%
FVAL
1.9%

Real Estate

IWD
3.9%
FVAL
2.5%

Basic Materials

IWD
3.7%
FVAL
2.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Russell 1000 Value ETF

Fidelity Value Factor ETF

Often compared with IWD:
IWD vs. IWFIWD vs. VTVIWD vs. IWBIWD vs. QQQIWD vs. VONVIWD vs. IWVIWD vs. IWR
Often compared with FVAL:
FVAL vs. VTVFVAL vs. DEEPFVAL vs. SCHDFVAL vs. VOOFVAL vs. HEROFVAL vs. RWLFVAL vs. DGRO

Return for Risk

IWD vs. FVAL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IWD
IWD Risk / Return Rank: 8383
Overall Rank
IWD Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
IWD Sortino Ratio Rank: 8383
Sortino Ratio Rank
IWD Omega Ratio Rank: 8080
Omega Ratio Rank
IWD Calmar Ratio Rank: 8282
Calmar Ratio Rank
IWD Martin Ratio Rank: 8686
Martin Ratio Rank
FVAL
FVAL Risk / Return Rank: 6868
Overall Rank
FVAL Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
FVAL Sortino Ratio Rank: 6868
Sortino Ratio Rank
FVAL Omega Ratio Rank: 6969
Omega Ratio Rank
FVAL Calmar Ratio Rank: 6161
Calmar Ratio Rank
FVAL Martin Ratio Rank: 7070
Martin Ratio Rank
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.

IWD vs. FVAL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell 1000 Value ETF (IWD) and Fidelity Value Factor ETF (FVAL). 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.

IWDFVALDifference
Sharpe ratioReturn per unit of total volatility
2.52
2.16

+0.36

Sortino ratioReturn per unit of downside risk
3.52
2.97

+0.55

Omega ratioGain probability vs. loss probability

1.45

1.39

+0.06

Calmar ratioReturn relative to maximum drawdown

4.18

2.90

+1.27

Martin ratioReturn relative to average drawdown

17.32

12.33

+4.99

IWD vs. FVAL - Sharpe Ratio Comparison

The current IWD Sharpe Ratio is 2.52, which is comparable to the FVAL Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of IWD and FVAL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

IWD vs. FVAL - Drawdown Comparison

The maximum IWD drawdown since its inception was -60.10%, which is greater than FVAL's maximum drawdown of -37.26%. Use the drawdown chart below to compare losses from any high point for IWD and FVAL.

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Drawdown Indicators

IWDFVALDifference

Max Drawdown

Largest peak-to-trough decline

-60.10%

-37.26%

-22.84%

Max Drawdown (1Y)

Largest decline over 1 year

-6.79%

-8.92%

+2.13%

Max Drawdown (3Y)

Largest decline over 3 years

-15.71%

-18.39%

+2.68%

Max Drawdown (5Y)

Largest decline over 5 years

-19.04%

-23.42%

+4.38%

Max Drawdown (10Y)

Largest decline over 10 years

-38.51%

—

—

Current Drawdown

Current decline from peak

-1.16%

-3.89%

+2.73%

Average Drawdown

Average peak-to-trough decline

-8.64%

-4.57%

-4.07%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.63%

2.10%

-0.47%

Volatility

IWD vs. FVAL - Volatility Comparison

iShares Russell 1000 Value ETF (IWD) and Fidelity Value Factor ETF (FVAL) have volatilities of 4.14% and 4.32%, 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

IWDFVALDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.14%

4.32%

-0.18%

Volatility (6M)

Calculated over the trailing 6-month period

8.67%

9.35%

-0.68%

Volatility (1Y)

Calculated over the trailing 1-year period

11.27%

12.01%

-0.74%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.84%

16.53%

-1.69%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.28%

18.10%

-0.82%

IWD vs. FVAL - Expense Ratio Comparison

IWD has a 0.18% expense ratio, which is higher than FVAL's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IWD vs. FVAL - Dividend Comparison

IWD's dividend yield for the trailing twelve months is around 1.45%, less than FVAL's 1.62% yield.

PositionTTM20252024202320222021202020192018201720162015
FVAL
Fidelity Value Factor ETF		1.62%1.61%1.60%1.69%1.79%1.41%1.61%1.77%2.06%1.62%0.45%0.00%
IWD
iShares Russell 1000 Value ETF		1.45%1.69%1.87%2.02%2.15%1.62%2.05%2.45%2.71%2.09%2.25%2.47%

Frequently Asked Questions

IWD and FVAL have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FVAL has higher volatility (4.32%) compared to IWD (4.14%). In terms of maximum drawdown, IWD dropped -60.10% vs FVAL's -37.26%.

On 5-year performance, FVAL leads with 12.00% vs 10.87% for IWD. On fees, FVAL is cheaper at 0.15% per year. On volatility, IWD has been the lower-risk option at 4.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, FVAL has performed better with a 12.00% return vs 10.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

FVAL is cheaper with a 0.15% expense ratio, compared with 0.18% for IWD.

FVAL has the higher dividend yield at 1.62%, compared with 1.45% for IWD.

IWD tracks Russell 1000 Value Index, while FVAL tracks Fidelity U.S. Value Factor Index. They also come from different issuers: iShares and Fidelity. Their fees differ too: 0.18% for IWD and 0.15% for FVAL.

IWD currently has the higher Sharpe Ratio (2.52 vs 2.16), 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.

Portfolio Optimizer

Find the right allocation for IWD and FVAL

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