IWD vs. VLUE

Last updated Jun 24, 2026

IWD (iShares Russell 1000 Value ETF) and VLUE (iShares MSCI USA Value Factor ETF) are both Large Cap Value Equities funds from iShares - IWD tracks the Russell 1000 Value Index while VLUE tracks the MSCI USA Enhanced Value Index. Both are passively managed. Over the past 10 years, IWD returned 11.61%/yr vs 15.56%/yr for VLUE. Their correlation of 0.91 suggests significant overlap in exposure. IWD charges 0.18%/yr vs 0.15%/yr for VLUE.

Performance

IWD vs. VLUE - Performance Comparison

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

Returns By Period

In the year-to-date period, IWD achieves a 15.35% return, which is significantly lower than VLUE's 45.30% return. Over the past 10 years, IWD has underperformed VLUE with an annualized return of 11.61%, while VLUE has yielded a comparatively higher 15.56% annualized 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%

VLUE

• 1D: -3.46%
• 1M: 5.59%
• YTD: 45.30%
• 6M: 44.72%
• 1Y: 81.73%
• 3Y*: 32.50%
• 5Y*: 16.52%
• 10Y*: 15.56%

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

IWD vs. VLUE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
VLUE iShares MSCI USA Value Factor ETF	45.30%	32.67%	7.25%	14.26%	-14.17%	28.93%	-0.23%	27.20%	-11.13%	21.95%

Correlation

The correlation between IWD and VLUE 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	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Apr 18, 2013	0.91

The correlation between IWD and VLUE has been stable across timeframes, ranging from 0.84 to 0.94 - a consistent structural relationship.

IWD vs. VLUE - Sectors Allocation Comparison

Sectors	IWD	VLUE
Technology	18.6%	40.7%
Financial Services	18.4%	10.5%
Industrials	12.5%	8.0%
Healthcare	10.6%	7.9%
Communication Services	8.1%	9.5%
Consumer Cyclical	7.1%	10.1%
Consumer Defensive	6.7%	4.4%
Energy	6.3%	3.5%
Utilities	4.0%	2.0%
Real Estate	3.9%	1.8%
Basic Materials	3.7%	1.3%

Return for Risk

IWD vs. VLUE — Risk / Return Rank

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

IWD

IWD Risk / Return Rank: 83
IWD Sharpe Ratio Rank: 82
IWD Sortino Ratio Rank: 83
IWD Omega Ratio Rank: 80
IWD Calmar Ratio Rank: 82
IWD Martin Ratio Rank: 86

VLUE

VLUE Risk / Return Rank: 96
VLUE Sharpe Ratio Rank: 97
VLUE Sortino Ratio Rank: 96
VLUE Omega Ratio Rank: 95
VLUE Calmar Ratio Rank: 96
VLUE Martin Ratio Rank: 97

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. VLUE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell 1000 Value ETF (IWD) and iShares MSCI USA Value Factor ETF (VLUE). 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	VLUE	Difference
Sharpe ratio: Return per unit of total volatility	2.52	4.31	-1.79
Sortino ratio: Return per unit of downside risk	3.52	5.37	-1.85
Omega ratio: Gain probability vs. loss probability	1.45	1.73	-0.28
Calmar ratio: Return relative to maximum drawdown	4.18	9.09	-4.91
Martin ratio: Return relative to average drawdown	17.32	38.03	-20.71

IWD vs. VLUE - Sharpe Ratio Comparison

The current IWD Sharpe Ratio is 2.52, which is lower than the VLUE Sharpe Ratio of 4.31. The chart below compares the historical Sharpe Ratios of IWD and VLUE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IWD vs. VLUE - Drawdown Comparison

The maximum IWD drawdown since its inception was -60.10%, which is greater than VLUE's maximum drawdown of -39.47%. Use the drawdown chart below to compare losses from any high point for IWD and VLUE.

Drawdown Indicators

	IWD	VLUE	Difference
Max Drawdown Largest peak-to-trough decline	-60.10%	-39.47%	-20.63%
Max Drawdown (1Y) Largest decline over 1 year	-6.79%	-9.04%	+2.25%
Max Drawdown (3Y) Largest decline over 3 years	-15.71%	-17.89%	+2.18%
Max Drawdown (5Y) Largest decline over 5 years	-19.04%	-27.12%	+8.08%
Max Drawdown (10Y) Largest decline over 10 years	-38.51%	-39.47%	+0.96%
Current Drawdown Current decline from peak	-1.16%	-3.46%	+2.30%
Average Drawdown Average peak-to-trough decline	-8.64%	-6.00%	-2.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.63%	2.16%	-0.53%

Volatility

IWD vs. VLUE - Volatility Comparison

The current volatility for iShares Russell 1000 Value ETF (IWD) is 4.14%, while iShares MSCI USA Value Factor ETF (VLUE) has a volatility of 9.76%. This indicates that IWD experiences smaller price fluctuations and is considered to be less risky than VLUE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWD	VLUE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.14%	9.76%	-5.62%
Volatility (6M) Calculated over the trailing 6-month period	8.67%	16.13%	-7.46%
Volatility (1Y) Calculated over the trailing 1-year period	11.27%	19.07%	-7.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.84%	18.12%	-3.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.28%	19.95%	-2.67%

IWD vs. VLUE - Expense Ratio Comparison

IWD has a 0.18% expense ratio, which is higher than VLUE'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. VLUE - Dividend Comparison

IWD's dividend yield for the trailing twelve months is around 1.45%, more than VLUE's 1.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VLUE iShares MSCI USA Value Factor ETF	1.42%	2.11%	2.73%	2.66%	3.18%	2.22%	2.42%	2.61%	2.70%	2.14%	2.07%	2.39%

Frequently Asked Questions

Can I hold both IWD and VLUE in my portfolio?

IWD and VLUE 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.

Which is riskier, IWD or VLUE?

VLUE has higher volatility (9.76%) compared to IWD (4.14%). In terms of maximum drawdown, IWD dropped -60.10% vs VLUE's -39.47%.

Which ETF is better, IWD or VLUE?

On 10-year performance, VLUE leads with 15.56% vs 11.61% for IWD. On fees, VLUE 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.

Which ETF has performed better, IWD or VLUE?

Over the 10-year period, VLUE has performed better with a 15.56% return vs 11.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IWD or VLUE?

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

Which ETF pays a higher dividend yield, IWD or VLUE?

IWD has the higher dividend yield at 1.45%, compared with 1.42% for VLUE.

What is the main difference between IWD and VLUE?

IWD tracks Russell 1000 Value Index, while VLUE tracks MSCI USA Enhanced Value Index. Their fees differ too: 0.18% for IWD and 0.15% for VLUE.

Which has better risk-adjusted returns?

VLUE currently has the higher Sharpe Ratio (4.31 vs 2.52), 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.