IWFH vs. MOON

Last updated Jun 27, 2026

IWFH (iShares Virtual Work and Life Multisector ETF) and MOON (Direxion Moonshot Innovators ETF) are both Technology Equities funds - IWFH tracks the NYSE FactSet Global Virtual Work and Life Index while MOON tracks the S&P Kensho Moonshots Index. Both are passively managed. Their correlation of 0.81 suggests significant overlap in exposure. IWFH charges 0.47%/yr vs 0.65%/yr for MOON.

Performance

IWFH vs. MOON - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Virtual Work and Life Multisector ETF (IWFH) and Direxion Moonshot Innovators ETF (MOON). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IWFH

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MOON

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IWFH vs. MOON - Yearly Performance Comparison

	2024 (YTD)	2023	2022	2021	2020
IWFH iShares Virtual Work and Life Multisector ETF	-7.41%	17.42%	-39.32%	-25.56%	14.94%
MOON Direxion Moonshot Innovators ETF	-8.56%	9.85%	-61.07%	-13.78%	26.82%

Correlation

The correlation between IWFH and MOON is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (All Time) Calculated using the full available price history since Nov 12, 2020	0.81

The correlation between IWFH and MOON shifts across timeframes, from 0.74 (1 year) to 0.85 (3 years), reflecting how their relationship changes across market environments.

IWFH vs. MOON - Sectors Allocation Comparison

Sectors	IWFH	MOON
Technology	43.2%	42.4%
Communication Services	31.6%	9.3%
Consumer Cyclical	9.9%	11.9%
Healthcare	9.1%	23.5%
Consumer Defensive	6.3%	-
Basic Materials	-	1.2%
Energy	-	-
Financial Services	-	4.2%
Industrials	-	7.5%
Real Estate	-	-
Utilities	-	-

Return for Risk

IWFH vs. MOON - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Virtual Work and Life Multisector ETF (IWFH) and Direxion Moonshot Innovators ETF (MOON). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

Volatility

IWFH vs. MOON - Expense Ratio Comparison

IWFH has a 0.47% expense ratio, which is lower than MOON's 0.65% expense ratio.

Dividends

IWFH vs. MOON - Dividend Comparison

Neither IWFH nor MOON has paid dividends to shareholders.

Position	TTM	2023	2022	2021	2020
IWFH iShares Virtual Work and Life Multisector ETF	0.00%	1.83%	0.31%	0.00%	0.18%
MOON Direxion Moonshot Innovators ETF	0.00%	1.41%	0.00%	1.64%	0.00%

Frequently Asked Questions

Can I hold both IWFH and MOON in my portfolio?

IWFH and MOON have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IWFH or MOON?

On fees, IWFH is cheaper at 0.47% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IWFH or MOON?

IWFH is cheaper with a 0.47% expense ratio, compared with 0.65% for MOON.

Which ETF pays a higher dividend yield, IWFH or MOON?

IWFH and MOON have nearly identical dividend yields, around 0.00%.

What is the main difference between IWFH and MOON?

IWFH tracks NYSE FactSet Global Virtual Work and Life Index, while MOON tracks S&P Kensho Moonshots Index. They also come from different issuers: iShares and Direxion. Their fees differ too: 0.47% for IWFH and 0.65% for MOON.