IWF vs. IWX

Last updated Jun 4, 2026

IWF (iShares Russell 1000 Growth ETF) and IWX (iShares Russell Top 200 Value ETF) are both exchange-traded funds - IWF is a Large Cap Growth Equities fund tracking the Russell 1000 Growth Index, while IWX is a Large Cap Value Equities fund tracking the Russell Top 200 Value Index. Both are passively managed. Over the past 10 years, IWF returned 18.49%/yr vs 11.66%/yr for IWX. A 0.72 correlation means they provide meaningful diversification when combined. IWF charges 0.18%/yr vs 0.20%/yr for IWX.

Performance

IWF vs. IWX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell 1000 Growth ETF (IWF) and iShares Russell Top 200 Value ETF (IWX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IWF achieves a 7.11% return, which is significantly lower than IWX's 13.79% return. Over the past 10 years, IWF has outperformed IWX with an annualized return of 18.49%, while IWX has yielded a comparatively lower 11.66% annualized return.

IWF

• 1D: -1.29%
• 1M: 5.68%
• YTD: 7.11%
• 6M: 6.51%
• 1Y: 25.60%
• 3Y*: 24.80%
• 5Y*: 15.24%
• 10Y*: 18.49%

IWX

• 1D: 0.01%
• 1M: 4.49%
• YTD: 13.79%
• 6M: 14.63%
• 1Y: 28.65%
• 3Y*: 18.86%
• 5Y*: 11.06%
• 10Y*: 11.66%

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

IWF vs. IWX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IWF iShares Russell 1000 Growth ETF	7.11%	18.33%	33.12%	42.59%	-29.31%	27.43%	38.25%	35.86%	-1.67%	29.95%
IWX iShares Russell Top 200 Value ETF	13.79%	18.23%	14.89%	10.45%	-5.33%	23.33%	1.46%	25.82%	-6.53%	14.05%

Correlation

The correlation between IWF and IWX is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (10Y) Calculated over the trailing 10-year period	0.65
Correlation (All Time) Calculated using the full available price history since Sep 29, 2009	0.72

The correlation between IWF and IWX shifts across timeframes, from 0.50 (3 years) to 0.72 (all time), reflecting how their relationship changes across market environments.

IWF vs. IWX - Sectors Allocation Comparison

Sectors	IWF	IWX
Technology	53.2%	14.2%
Consumer Cyclical	12.7%	6.8%
Communication Services	12.3%	11.0%
Healthcare	7.0%	12.5%
Industrials	5.0%	11.3%
Financial Services	4.9%	21.5%
Consumer Defensive	2.5%	8.2%
Utilities	1.1%	3.2%
Real Estate	0.4%	1.9%
Energy	0.4%	6.4%
Basic Materials	0.3%	3.0%

Return for Risk

IWF vs. IWX — Risk / Return Rank

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

IWF

IWF Risk / Return Rank: 40
IWF Sharpe Ratio Rank: 47
IWF Sortino Ratio Rank: 45
IWF Omega Ratio Rank: 44
IWF Calmar Ratio Rank: 31
IWF Martin Ratio Rank: 34

IWX

IWX Risk / Return Rank: 85
IWX Sharpe Ratio Rank: 86
IWX Sortino Ratio Rank: 88
IWX Omega Ratio Rank: 85
IWX Calmar Ratio Rank: 82
IWX Martin Ratio Rank: 87

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.

IWF vs. IWX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell 1000 Growth ETF (IWF) 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.

	IWF	IWX	Difference
Sharpe ratio: Return per unit of total volatility	1.67	2.87	-1.21
Sortino ratio: Return per unit of downside risk	2.29	4.06	-1.78
Omega ratio: Gain probability vs. loss probability	1.29	1.52	-0.23
Calmar ratio: Return relative to maximum drawdown	1.58	4.37	-2.79
Martin ratio: Return relative to average drawdown	5.28	18.76	-13.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IWF vs. IWX - Sharpe Ratio Comparison

The current IWF Sharpe Ratio is 1.67, which is lower than the IWX Sharpe Ratio of 2.87. The chart below compares the historical Sharpe Ratios of IWF and IWX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IWF	IWX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.67	2.87	-1.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	0.80	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.88	0.71	+0.18
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.70	-0.31

Drawdowns

IWF vs. IWX - Drawdown Comparison

The maximum IWF drawdown since its inception was -64.25%, which is greater than IWX's maximum drawdown of -35.76%. Use the drawdown chart below to compare losses from any high point for IWF and IWX.

Drawdown Indicators

	IWF	IWX	Difference
Max Drawdown Largest peak-to-trough decline	-64.25%	-35.76%	-28.49%
Max Drawdown (1Y) Largest decline over 1 year	-16.27%	-6.59%	-9.68%
Max Drawdown (3Y) Largest decline over 3 years	-23.36%	-13.37%	-9.99%
Max Drawdown (5Y) Largest decline over 5 years	-32.72%	-18.13%	-14.59%
Max Drawdown (10Y) Largest decline over 10 years	-32.72%	-35.76%	+3.04%
Current Drawdown Current decline from peak	-1.66%	0.00%	-1.66%
Average Drawdown Average peak-to-trough decline	-22.08%	-3.82%	-18.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.86%	1.53%	+3.33%

Volatility

IWF vs. IWX - Volatility Comparison

iShares Russell 1000 Growth ETF (IWF) has a higher volatility of 3.61% compared to iShares Russell Top 200 Value ETF (IWX) at 2.83%. This indicates that IWF's price experiences larger fluctuations and is considered to be riskier than IWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWF	IWX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.61%	2.83%	+0.78%
Volatility (6M) Calculated over the trailing 6-month period	11.66%	7.66%	+4.00%
Volatility (1Y) Calculated over the trailing 1-year period	15.44%	10.02%	+5.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.40%	13.85%	+7.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.97%	16.51%	+4.46%

IWF vs. IWX - Expense Ratio Comparison

IWF 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

IWF vs. IWX - Dividend Comparison

IWF's dividend yield for the trailing twelve months is around 0.33%, less than IWX's 1.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IWF iShares Russell 1000 Growth ETF	0.33%	0.36%	0.46%	0.67%	0.91%	0.49%	0.66%	0.99%	1.27%	1.10%	1.43%	1.37%
IWX iShares Russell Top 200 Value ETF	1.48%	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

Can I hold both IWF and IWX in my portfolio?

IWF and IWX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IWF or IWX?

IWF has higher volatility (3.61%) compared to IWX (2.83%). In terms of maximum drawdown, IWF dropped -64.25% vs IWX's -35.76%.

Which ETF is better, IWF or IWX?

On 10-year performance, IWF leads with 18.49% vs 11.66% for IWX. On fees, IWF is cheaper at 0.18% per year. On volatility, IWX has been the lower-risk option at 2.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IWF or IWX?

Over the 10-year period, IWF has performed better with a 18.49% return vs 11.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IWF or IWX?

IWF is cheaper with a 0.18% expense ratio, compared with 0.20% for IWX.

Which ETF pays a higher dividend yield, IWF or IWX?

IWX has the higher dividend yield at 1.48%, compared with 0.33% for IWF.

What is the main difference between IWF and IWX?

IWF is categorized as Large Cap Growth Equities, while IWX is Large Cap Value Equities. IWF tracks Russell 1000 Growth Index, while IWX tracks Russell Top 200 Value Index. Their fees differ too: 0.18% for IWF and 0.20% for IWX.

Which has better risk-adjusted returns?

IWX currently has the higher Sharpe Ratio (2.87 vs 1.67), 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.