IWD vs. IWX
IWD (iShares Russell 1000 Value ETF) and IWX (iShares Russell Top 200 Value ETF) are both Large Cap Value Equities funds from iShares - IWD tracks the Russell 1000 Value Index while IWX tracks the Russell Top 200 Value Index. Both are passively managed. Over the past 10 years, IWD returned 11.56%/yr vs 12.13%/yr for IWX. Their correlation of 0.95 means they have usually moved in the same direction. IWD charges 0.18%/yr vs 0.20%/yr for IWX.
Performance
IWD vs. IWX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with IWD having a 20.56% return and IWX slightly higher at 20.90%. Both investments have delivered pretty close results over the past 10 years, with IWD having a 11.56% annualized return and IWX not far ahead at 12.13%.
IWD
- 1D
- 0.44%
- 1M
- 2.03%
- 6M
- 15.34%
- YTD
- 20.56%
- 1Y
- 32.78%
- 3Y*
- 17.82%
- 5Y*
- 11.62%
- 10Y*
- 11.56%
- ALL TIME*
- 8.29%
IWX
- 1D
- 0.74%
- 1M
- 2.59%
- 6M
- 15.57%
- YTD
- 20.90%
- 1Y
- 34.92%
- 3Y*
- 18.98%
- 5Y*
- 12.65%
- 10Y*
- 12.13%
- ALL TIME*
- 11.70%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $542.34M | $454.50M | $526.80M | |
| $55.11M | $49.72M | $33.93M |
IWD vs. IWX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IWD iShares Russell 1000 Value ETF | 20.56% | 15.68% | 14.17% | 11.34% | -7.75% | 24.95% | 2.73% | 26.12% | -8.45% | 13.45% |
IWX iShares Russell Top 200 Value ETF | 20.90% | 18.23% | 14.89% | 10.45% | -5.33% | 23.33% | 1.46% | 25.82% | -6.53% | 14.05% |
Correlation
The correlation between IWD and IWX is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.98 |
Correlation (3Y) Balances recent behavior with more history. | 0.98 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.98 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.97 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2009 | 0.95 |
The correlation between IWD and IWX has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.
IWD vs. IWX - Sectors Allocation Comparison
Sectors
IWD
IWX
Technology
Financial Services
Healthcare
Consumer Cyclical
Industrials
Consumer Defensive
Energy
Utilities
Real Estate
Basic Materials
Communication Services
Technology
IWD
IWX
Financial Services
IWD
IWX
Healthcare
IWD
IWX
Consumer Cyclical
IWD
IWX
Industrials
IWD
IWX
Consumer Defensive
IWD
IWX
Energy
IWD
IWX
Utilities
IWD
IWX
Real Estate
IWD
IWX
Basic Materials
IWD
IWX
Communication Services
IWD
IWX
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Return for Risk
IWD vs. IWX — Risk / Return Rank
IWD
IWX
IWD vs. IWX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell 1000 Value ETF (IWD) and iShares Russell Top 200 Value ETF (IWX). 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.
| IWD | IWX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.55 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 4.58 | 5.05 | -0.47 |
| Martin ratioReturn relative to average drawdown | 19.60 | 22.22 | -2.61 |
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Drawdowns
IWD vs. IWX - Drawdown Comparison
The maximum IWD drawdown since its inception was -60.10%, which is greater than IWX's maximum drawdown of -35.76%. Use the drawdown chart below to compare losses from any high point for IWD and IWX.
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Drawdown Indicators
| IWD | IWX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.10% | -35.76% | -24.34% |
Max Drawdown (1Y)Largest decline over 1 year | -6.79% | -6.59% | -0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -15.71% | -13.37% | -2.34% |
Max Drawdown (5Y)Largest decline over 5 years | -19.04% | -18.13% | -0.91% |
Max Drawdown (10Y)Largest decline over 10 years | -38.51% | -35.76% | -2.75% |
Current DrawdownCurrent decline from peak | -0.09% | 0.00% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -8.60% | -3.79% | -4.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.59% | 1.50% | +0.09% |
Volatility
IWD vs. IWX - Volatility Comparison
The current volatility for iShares Russell 1000 Value ETF (IWD) is 2.86%, while iShares Russell Top 200 Value ETF (IWX) has a volatility of 3.10%. This indicates that IWD experiences smaller price fluctuations and is considered to be less risky than IWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWD | IWX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.86% | 3.10% | -0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 8.65% | 8.46% | +0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.35% | 10.81% | +0.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.81% | 13.89% | +0.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.25% | 16.48% | +0.77% |
IWD vs. IWX - Expense Ratio Comparison
IWD has a 0.18% expense ratio, which is lower than IWX's 0.20% expense ratio. Despite the difference, 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. IWX - Dividend Comparison
IWD's dividend yield for the trailing twelve months is around 1.39%, which matches IWX's 1.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWD iShares Russell 1000 Value ETF | 1.39% | 1.69% | 1.87% | 2.02% | 2.15% | 1.62% | 2.05% | 2.45% | 2.71% | 2.09% | 2.25% | 2.47% |
IWX iShares Russell Top 200 Value ETF | 1.39% | 1.59% | 1.97% | 2.13% | 2.07% | 1.79% | 2.12% | 2.60% | 2.66% | 2.12% | 2.22% | 2.77% |
Frequently Asked Questions
With a correlation of 0.98, IWD and IWX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
IWX has higher volatility (3.10%) compared to IWD (2.86%). In terms of maximum drawdown, IWD dropped -60.10% vs IWX's -35.76%.
On 10-year performance, IWX leads with 12.13% vs 11.56% for IWD. On fees, IWD is cheaper at 0.18% per year. On volatility, IWD has been the lower-risk option at 2.86%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IWX has performed better with a 12.13% return vs 11.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IWD is cheaper with a 0.18% expense ratio, compared with 0.20% for IWX.
IWD and IWX have nearly identical dividend yields, around 1.39%.
IWD tracks Russell 1000 Value Index, while IWX tracks Russell Top 200 Value Index. Their fees differ too: 0.18% for IWD and 0.20% for IWX.
IWX currently has the higher Sharpe Ratio (3.10 vs 2.75), 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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