IWD vs. VMAX

Last updated Jun 24, 2026

IWD (iShares Russell 1000 Value ETF) and VMAX (Hartford US Value ETF) are both Large Cap Value Equities funds. IWD is passively managed, while VMAX is actively managed. Over the past year, IWD returned 28.22% vs 29.63% for VMAX. Their correlation of 0.93 suggests significant overlap in exposure. IWD charges 0.18%/yr vs 0.29%/yr for VMAX.

Performance

IWD vs. VMAX - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with IWD having a 15.35% return and VMAX slightly higher at 15.44%.

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%

VMAX

• 1D: -0.08%
• 1M: 3.05%
• YTD: 15.44%
• 6M: 14.38%
• 1Y: 29.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IWD vs. VMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
IWD iShares Russell 1000 Value ETF	15.35%	15.68%	14.17%	5.19%
VMAX Hartford US Value ETF	15.44%	15.65%	15.89%	5.71%

Correlation

The correlation between IWD and VMAX is 0.91, 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	0.91
Correlation (All Time) Calculated using the full available price history since Dec 6, 2023	0.93

The correlation between IWD and VMAX has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.

IWD vs. VMAX - Sectors Allocation Comparison

Sectors	IWD	VMAX
Technology	18.6%	13.3%
Financial Services	18.4%	32.4%
Industrials	12.5%	5.5%
Healthcare	10.6%	11.1%
Communication Services	8.1%	6.6%
Consumer Cyclical	7.1%	3.7%
Consumer Defensive	6.7%	3.7%
Energy	6.3%	11.0%
Utilities	4.0%	5.3%
Real Estate	3.9%	4.4%
Basic Materials	3.7%	2.8%

Return for Risk

IWD vs. VMAX — 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

VMAX

VMAX Risk / Return Rank: 85
VMAX Sharpe Ratio Rank: 81
VMAX Sortino Ratio Rank: 80
VMAX Omega Ratio Rank: 77
VMAX Calmar Ratio Rank: 93
VMAX Martin Ratio Rank: 92

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. VMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell 1000 Value ETF (IWD) and Hartford US Value ETF (VMAX). 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	VMAX	Difference
Sharpe ratio: Return per unit of total volatility	2.52	2.42	+0.10
Sortino ratio: Return per unit of downside risk	3.52	3.30	+0.23
Omega ratio: Gain probability vs. loss probability	1.45	1.42	+0.03
Calmar ratio: Return relative to maximum drawdown	4.18	6.04	-1.86
Martin ratio: Return relative to average drawdown	17.32	21.18	-3.86

IWD vs. VMAX - Sharpe Ratio Comparison

The current IWD Sharpe Ratio is 2.52, which is comparable to the VMAX Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of IWD and VMAX, 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. VMAX - Drawdown Comparison

The maximum IWD drawdown since its inception was -60.10%, which is greater than VMAX's maximum drawdown of -19.05%. Use the drawdown chart below to compare losses from any high point for IWD and VMAX.

Drawdown Indicators

	IWD	VMAX	Difference
Max Drawdown Largest peak-to-trough decline	-60.10%	-19.05%	-41.05%
Max Drawdown (1Y) Largest decline over 1 year	-6.79%	-4.93%	-1.86%
Max Drawdown (3Y) Largest decline over 3 years	-15.71%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-19.04%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-38.51%	—	—
Current Drawdown Current decline from peak	-1.16%	-0.39%	-0.77%
Average Drawdown Average peak-to-trough decline	-8.64%	-2.52%	-6.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.63%	1.40%	+0.23%

Volatility

IWD vs. VMAX - Volatility Comparison

iShares Russell 1000 Value ETF (IWD) has a higher volatility of 4.14% compared to Hartford US Value ETF (VMAX) at 3.17%. This indicates that IWD's price experiences larger fluctuations and is considered to be riskier than VMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWD	VMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.14%	3.17%	+0.97%
Volatility (6M) Calculated over the trailing 6-month period	8.67%	8.83%	-0.16%
Volatility (1Y) Calculated over the trailing 1-year period	11.27%	12.31%	-1.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.84%	15.41%	-0.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.28%	15.41%	+1.87%

IWD vs. VMAX - Expense Ratio Comparison

IWD has a 0.18% expense ratio, which is lower than VMAX's 0.29% expense ratio.

Dividends

IWD vs. VMAX - Dividend Comparison

IWD's dividend yield for the trailing twelve months is around 1.45%, less than VMAX's 1.85% 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%
VMAX Hartford US Value ETF	1.85%	2.14%	1.95%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IWD and VMAX in my portfolio?

With a correlation of 0.91, IWD and VMAX 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.

Which is riskier, IWD or VMAX?

IWD has higher volatility (4.14%) compared to VMAX (3.17%). In terms of maximum drawdown, IWD dropped -60.10% vs VMAX's -19.05%.

Which ETF is better, IWD or VMAX?

On 1-year performance, VMAX leads with 29.63% vs 28.22% for IWD. On fees, IWD is cheaper at 0.18% per year. On volatility, VMAX has been the lower-risk option at 3.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IWD or VMAX?

Over the 1-year period, VMAX has performed better with a 29.63% return vs 28.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IWD or VMAX?

IWD is cheaper with a 0.18% expense ratio, compared with 0.29% for VMAX.

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

VMAX has the higher dividend yield at 1.85%, compared with 1.45% for IWD.

What is the main difference between IWD and VMAX?

They also come from different issuers: iShares and Hartford. Their fees differ too: 0.18% for IWD and 0.29% for VMAX.

Which has better risk-adjusted returns?

IWD currently has the higher Sharpe Ratio (2.52 vs 2.42), 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.