IWD vs. SPYV
IWD (iShares Russell 1000 Value ETF) and SPYV (SPDR Portfolio S&P 500 Value ETF) are both exchange-traded funds - IWD is a Large Cap Value Equities fund tracking the Russell 1000 Value Index, while SPYV is a S&P 500 fund tracking the S&P 500 Value Index. Both are passively managed. Over the past 10 years, IWD returned 11.56%/yr vs 11.92%/yr for SPYV. Their correlation of 0.90 means they have usually moved in the same direction. IWD charges 0.18%/yr vs 0.04%/yr for SPYV.
Performance
IWD vs. SPYV - Performance Comparison
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Returns By Period
In the year-to-date period, IWD achieves a 20.56% return, which is significantly higher than SPYV's 10.14% return. Both investments have delivered pretty close results over the past 10 years, with IWD having a 11.56% annualized return and SPYV not far ahead at 11.92%.
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%
SPYV
- 1D
- -0.16%
- 1M
- 0.68%
- 6M
- 7.56%
- YTD
- 10.14%
- 1Y
- 21.27%
- 3Y*
- 13.90%
- 5Y*
- 11.52%
- 10Y*
- 11.92%
- ALL TIME*
- 7.87%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $542.34M | $454.50M | $526.80M | |
| $129.05M | $117.43M | $146.49M |
IWD vs. SPYV - 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% |
SPYV SPDR Portfolio S&P 500 Value ETF | 10.14% | 13.18% | 12.24% | 22.20% | -5.28% | 24.91% | 1.38% | 31.70% | -9.01% | 15.40% |
Correlation
The correlation between IWD and SPYV is 0.91, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.91 |
Correlation (3Y) Balances recent behavior with more history. | 0.95 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.96 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.97 |
Correlation (All Time) Calculated using the full available price history since Oct 2, 2000 | 0.90 |
The correlation between IWD and SPYV has been stable across timeframes, ranging from 0.90 to 0.97 - a consistent structural relationship.
IWD vs. SPYV - Sectors Allocation Comparison
Sectors
IWD
SPYV
Technology
Financial Services
Healthcare
Consumer Cyclical
Industrials
Consumer Defensive
Energy
Utilities
Real Estate
Basic Materials
Communication Services
Technology
IWD
SPYV
Financial Services
IWD
SPYV
Healthcare
IWD
SPYV
Consumer Cyclical
IWD
SPYV
Industrials
IWD
SPYV
Consumer Defensive
IWD
SPYV
Energy
IWD
SPYV
Utilities
IWD
SPYV
Real Estate
IWD
SPYV
Basic Materials
IWD
SPYV
Communication Services
IWD
SPYV
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Return for Risk
IWD vs. SPYV — Risk / Return Rank
IWD
SPYV
IWD vs. SPYV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell 1000 Value ETF (IWD) and SPDR Portfolio S&P 500 Value ETF (SPYV). 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 | SPYV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.77 | ||
| Sortino ratioReturn per unit of downside risk | +1.05 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.36 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 4.58 | 3.17 | +1.41 |
| Martin ratioReturn relative to average drawdown | 19.60 | 12.28 | +7.32 |
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Drawdowns
IWD vs. SPYV - Drawdown Comparison
The maximum IWD drawdown since its inception was -60.10%, roughly equal to the maximum SPYV drawdown of -58.45%. Use the drawdown chart below to compare losses from any high point for IWD and SPYV.
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Drawdown Indicators
| IWD | SPYV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.10% | -58.45% | -1.65% |
Max Drawdown (1Y)Largest decline over 1 year | -6.79% | -6.22% | -0.57% |
Max Drawdown (3Y)Largest decline over 3 years | -15.71% | -17.54% | +1.83% |
Max Drawdown (5Y)Largest decline over 5 years | -19.04% | -17.89% | -1.15% |
Max Drawdown (10Y)Largest decline over 10 years | -38.51% | -36.89% | -1.62% |
Current DrawdownCurrent decline from peak | -0.09% | -1.13% | +1.04% |
Average DrawdownAverage peak-to-trough decline | -8.60% | -8.67% | +0.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.59% | 1.61% | -0.02% |
Volatility
IWD vs. SPYV - Volatility Comparison
iShares Russell 1000 Value ETF (IWD) has a higher volatility of 2.86% compared to SPDR Portfolio S&P 500 Value ETF (SPYV) at 2.72%. This indicates that IWD's price experiences larger fluctuations and is considered to be riskier than SPYV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWD | SPYV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.86% | 2.72% | +0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 8.65% | 7.14% | +1.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.35% | 9.99% | +1.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.81% | 14.30% | +0.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.25% | 16.88% | +0.37% |
IWD vs. SPYV - Expense Ratio Comparison
IWD has a 0.18% expense ratio, which is higher than SPYV's 0.04% 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. SPYV - Dividend Comparison
IWD's dividend yield for the trailing twelve months is around 1.39%, less than SPYV's 1.69% 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% |
SPYV SPDR Portfolio S&P 500 Value ETF | 1.69% | 1.77% | 2.29% | 1.75% | 2.22% | 2.10% | 2.38% | 2.25% | 2.97% | 2.77% | 2.39% | 2.53% |
Frequently Asked Questions
With a correlation of 0.91, IWD and SPYV 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.
IWD has higher volatility (2.86%) compared to SPYV (2.72%). In terms of maximum drawdown, IWD dropped -60.10% vs SPYV's -58.45%.
On 10-year performance, SPYV leads with 11.92% vs 11.56% for IWD. On fees, SPYV is cheaper at 0.04% per year. On volatility, SPYV has been the lower-risk option at 2.72%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPYV has performed better with a 11.92% return vs 11.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPYV is cheaper with a 0.04% expense ratio, compared with 0.18% for IWD.
SPYV has the higher dividend yield at 1.69%, compared with 1.39% for IWD.
IWD is categorized as Large Cap Value Equities, while SPYV is S&P 500. IWD tracks Russell 1000 Value Index, while SPYV tracks S&P 500 Value Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.18% for IWD and 0.04% for SPYV.
IWD currently has the higher Sharpe Ratio (2.75 vs 1.98), 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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