IWM vs. GRNY

Last updated Jul 21, 2026

IWM (iShares Russell 2000 ETF) and GRNY (Fundstrat Granny Shots U.S. Large Cap ETF) are both exchange-traded funds - IWM is a Small Cap Blend Equities fund tracking the Russell 2000 Index, while GRNY is a Large Cap Blend Equities fund actively managed by Tidal ETFs. IWM is passively managed, while GRNY is actively managed. Over the past year, IWM returned 32.84% vs 17.27% for GRNY. A 0.79 correlation means they provide meaningful diversification when combined. IWM charges 0.19%/yr vs 0.75%/yr for GRNY.

Performance

IWM vs. GRNY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell 2000 ETF (IWM) and Fundstrat Granny Shots U.S. Large Cap ETF (GRNY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IWM achieves a 19.24% return, which is significantly higher than GRNY's 9.98% return.

IWM

• 1D: -0.59%
• 1M: -1.11%
• 6M: 10.45%
• YTD: 19.24%
• 1Y: 32.84%
• 3Y*: 15.91%
• 5Y*: 6.97%
• 10Y*: 10.65%
• ALL TIME*: 8.76%

GRNY

• 1D: -0.37%
• 1M: -0.94%
• 6M: 5.26%
• YTD: 9.98%
• 1Y: 17.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.76%

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

IWM vs. GRNY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IWM iShares Russell 2000 ETF	19.24%	12.66%	-6.58%
GRNY Fundstrat Granny Shots U.S. Large Cap ETF	9.98%	24.05%	-0.45%

Correlation

The correlation between IWM and GRNY is 0.77, 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	0.77
Correlation (All Time) Calculated using the full available price history since Nov 7, 2024	0.79

The correlation between IWM and GRNY has been stable across timeframes, ranging from 0.77 to 0.79 - a consistent structural relationship.

Return for Risk

IWM vs. GRNY — Risk / Return Rank

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

IWM

IWM Risk / Return Rank: 72
IWM Sharpe Ratio Rank: 71
IWM Sortino Ratio Rank: 72
IWM Omega Ratio Rank: 64
IWM Calmar Ratio Rank: 78
IWM Martin Ratio Rank: 77

GRNY

GRNY Risk / Return Rank: 35
GRNY Sharpe Ratio Rank: 35
GRNY Sortino Ratio Rank: 33
GRNY Omega Ratio Rank: 32
GRNY Calmar Ratio Rank: 38
GRNY Martin Ratio Rank: 38

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.

IWM vs. GRNY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2000 ETF (IWM) and Fundstrat Granny Shots U.S. Large Cap ETF (GRNY). 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.

	IWM	GRNY	Difference
Sharpe ratio: Return per unit of total volatility	1.71	0.96	+0.74
Sortino ratio: Return per unit of downside risk	2.44	1.39	+1.05
Omega ratio: Gain probability vs. loss probability	1.29	1.17	+0.12
Calmar ratio: Return relative to maximum drawdown	2.99	1.49	+1.50
Martin ratio: Return relative to average drawdown	10.54	4.48	+6.06

IWM vs. GRNY - Sharpe Ratio Comparison

The current IWM Sharpe Ratio is 1.71, which is higher than the GRNY Sharpe Ratio of 0.96. The chart below compares the historical Sharpe Ratios of IWM and GRNY, 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

IWM vs. GRNY - Drawdown Comparison

The maximum IWM drawdown since its inception was -59.05%, which is greater than GRNY's maximum drawdown of -24.18%. Use the drawdown chart below to compare losses from any high point for IWM and GRNY.

Drawdown Indicators

	IWM	GRNY	Difference
Max Drawdown Largest peak-to-trough decline	-59.05%	-24.18%	-34.87%
Max Drawdown (1Y) Largest decline over 1 year	-11.03%	-11.63%	+0.60%
Max Drawdown (3Y) Largest decline over 3 years	-27.50%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-31.91%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-41.13%	—	—
Current Drawdown Current decline from peak	-2.71%	-2.68%	-0.03%
Average Drawdown Average peak-to-trough decline	-10.72%	-3.84%	-6.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.12%	3.86%	-0.74%

Volatility

IWM vs. GRNY - Volatility Comparison

The current volatility for iShares Russell 2000 ETF (IWM) is 3.62%, while Fundstrat Granny Shots U.S. Large Cap ETF (GRNY) has a volatility of 4.09%. This indicates that IWM experiences smaller price fluctuations and is considered to be less risky than GRNY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWM	GRNY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.62%	4.09%	-0.47%
Volatility (6M) Calculated over the trailing 6-month period	14.17%	13.02%	+1.15%
Volatility (1Y) Calculated over the trailing 1-year period	19.38%	18.06%	+1.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.49%	22.80%	-0.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.00%	22.80%	+0.20%

IWM vs. GRNY - Expense Ratio Comparison

IWM has a 0.19% expense ratio, which is lower than GRNY's 0.75% expense ratio.

Dividends

IWM vs. GRNY - Dividend Comparison

IWM's dividend yield for the trailing twelve months is around 0.91%, more than GRNY's 0.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GRNY Fundstrat Granny Shots U.S. Large Cap ETF	0.07%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IWM iShares Russell 2000 ETF	0.91%	1.04%	1.15%	1.35%	1.48%	0.94%	1.04%	1.26%	1.40%	1.26%	1.38%	1.54%

Frequently Asked Questions

Can I hold both IWM and GRNY in my portfolio?

IWM and GRNY have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IWM or GRNY?

GRNY has higher volatility (4.09%) compared to IWM (3.62%). In terms of maximum drawdown, IWM dropped -59.05% vs GRNY's -24.18%.

Which ETF is better, IWM or GRNY?

On 1-year performance, IWM leads with 32.84% vs 17.27% for GRNY. On fees, IWM is cheaper at 0.19% per year. On volatility, IWM has been the lower-risk option at 3.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IWM or GRNY?

Over the 1-year period, IWM has performed better with a 32.84% return vs 17.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IWM or GRNY?

IWM is cheaper with a 0.19% expense ratio, compared with 0.75% for GRNY.

Which ETF pays a higher dividend yield, IWM or GRNY?

IWM has the higher dividend yield at 0.91%, compared with 0.07% for GRNY.

What is the main difference between IWM and GRNY?

IWM is categorized as Small Cap Blend Equities, while GRNY is Large Cap Blend Equities. They also come from different issuers: iShares and Tidal ETFs. Their fees differ too: 0.19% for IWM and 0.75% for GRNY.

Which has better risk-adjusted returns?

IWM currently has the higher Sharpe Ratio (1.71 vs 0.96), 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.