IWM vs. HWM
IWM (iShares Russell 2000 ETF) is Small Cap Blend Equities fund tracking the Russell 2000 Index, while HWM (Howmet Aerospace Inc.) is a stock. Over the past 10 years, IWM returned 10.78%/yr vs 31.79%/yr for HWM. A 0.58 correlation means they provide meaningful diversification when combined.
Performance
IWM vs. HWM - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IWM achieves a 15.62% return, which is significantly lower than HWM's 20.38% return. Over the past 10 years, IWM has underperformed HWM with an annualized return of 10.78%, while HWM has yielded a comparatively higher 31.79% annualized return.
IWM
- 1D
- 0.87%
- 1M
- -0.02%
- YTD
- 15.62%
- 6M
- 13.83%
- 1Y
- 35.52%
- 3Y*
- 16.64%
- 5Y*
- 5.48%
- 10Y*
- 10.78%
HWM
- 1D
- -2.12%
- 1M
- -8.87%
- YTD
- 20.38%
- 6M
- 27.45%
- 1Y
- 40.91%
- 3Y*
- 75.58%
- 5Y*
- 48.17%
- 10Y*
- 31.79%
IWM vs. HWM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IWM iShares Russell 2000 ETF | 15.62% | 12.66% | 11.38% | 16.83% | -20.48% | 14.54% | 20.03% | 25.39% | -11.12% | 14.58% |
HWM Howmet Aerospace Inc. | 20.38% | 87.95% | 102.71% | 37.84% | 24.16% | 11.67% | 21.03% | 83.54% | -37.43% | 48.40% |
Correlation
The correlation between IWM and HWM is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since May 26, 2000 | 0.58 |
The correlation between IWM and HWM shifts across timeframes, from 0.40 (1 year) to 0.59 (10 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IWM vs. HWM — Risk / Return Rank
IWM
HWM
IWM vs. HWM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2000 ETF (IWM) and Howmet Aerospace Inc. (HWM). 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.
| IWM | HWM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.49 | ||
| Sortino ratioReturn per unit of downside risk | +0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.24 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.24 | 2.59 | +0.65 |
| Martin ratioReturn relative to average drawdown | 11.44 | 7.37 | +4.07 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| IWM | HWM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.83 | 1.34 | +0.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.24 | 1.51 | -1.27 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.47 | 0.80 | -0.33 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.21 | +0.15 |
Drawdowns
IWM vs. HWM - Drawdown Comparison
The maximum IWM drawdown since its inception was -59.05%, smaller than the maximum HWM drawdown of -88.30%. Use the drawdown chart below to compare losses from any high point for IWM and HWM.
Loading charts...
Drawdown Indicators
| IWM | HWM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.05% | -88.30% | +29.25% |
Max Drawdown (1Y)Largest decline over 1 year | -11.03% | -15.89% | +4.86% |
Max Drawdown (3Y)Largest decline over 3 years | -27.50% | -19.41% | -8.09% |
Max Drawdown (5Y)Largest decline over 5 years | -31.91% | -22.40% | -9.51% |
Max Drawdown (10Y)Largest decline over 10 years | -41.13% | -64.81% | +23.68% |
Current DrawdownCurrent decline from peak | -2.71% | -9.88% | +7.17% |
Average DrawdownAverage peak-to-trough decline | -10.76% | -31.01% | +20.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.11% | 5.58% | -2.47% |
Volatility
IWM vs. HWM - Volatility Comparison
The current volatility for iShares Russell 2000 ETF (IWM) is 6.52%, while Howmet Aerospace Inc. (HWM) has a volatility of 7.62%. This indicates that IWM experiences smaller price fluctuations and is considered to be less risky than HWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IWM | HWM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.52% | 7.62% | -1.10% |
Volatility (6M)Calculated over the trailing 6-month period | 14.00% | 24.08% | -10.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.53% | 30.70% | -11.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.58% | 32.04% | -9.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.07% | 39.78% | -16.71% |
Dividends
IWM vs. HWM - Dividend Comparison
IWM's dividend yield for the trailing twelve months is around 0.89%, more than HWM's 0.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HWM Howmet Aerospace Inc. | 0.19% | 0.21% | 0.24% | 0.31% | 0.25% | 0.13% | 0.05% | 0.39% | 1.42% | 0.88% | 40.49% | 1.22% |
IWM iShares Russell 2000 ETF | 0.89% | 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
IWM and HWM have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HWM has higher volatility (7.62%) compared to IWM (6.52%). In terms of maximum drawdown, IWM dropped -59.05% vs HWM's -88.30%.
IWM currently has the higher Sharpe Ratio (1.83 vs 1.34), 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.
Find the right allocation for IWM and HWM
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer