IWM vs. IMO
IWM (iShares Russell 2000 ETF) is Small Cap Blend Equities fund tracking the Russell 2000 Index, while IMO (Imperial Oil Limited) is a stock. Over the past 10 years, IWM returned 11.27%/yr vs 17.61%/yr for IMO. At a 0.41 correlation, their price movements are largely independent.
Performance
IWM vs. IMO - Performance Comparison
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Returns By Period
In the year-to-date period, IWM achieves a 19.22% return, which is significantly lower than IMO's 41.99% return. Over the past 10 years, IWM has underperformed IMO with an annualized return of 11.27%, while IMO has yielded a comparatively higher 17.61% annualized return.
IWM
- 1D
- 0.87%
- 1M
- 3.64%
- YTD
- 19.22%
- 6M
- 16.00%
- 1Y
- 39.16%
- 3Y*
- 17.23%
- 5Y*
- 6.07%
- 10Y*
- 11.27%
IMO
- 1D
- 0.26%
- 1M
- -7.42%
- YTD
- 41.99%
- 6M
- 33.35%
- 1Y
- 56.95%
- 3Y*
- 37.72%
- 5Y*
- 32.35%
- 10Y*
- 17.61%
IWM vs. IMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IWM iShares Russell 2000 ETF | 19.22% | 12.66% | 11.38% | 16.83% | -20.48% | 14.54% | 20.03% | 25.39% | -11.12% | 14.58% |
IMO Imperial Oil Limited | 41.99% | 43.85% | 10.47% | 20.89% | 38.00% | 95.29% | -25.37% | 7.16% | -17.21% | -8.36% |
Correlation
The correlation between IWM and IMO is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since May 26, 2000 | 0.41 |
Over the past year, the correlation between IWM and IMO has dropped to 0.13 - well below their long-term average of 0.41, suggesting their price drivers have been diverging.
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Return for Risk
IWM vs. IMO — Risk / Return Rank
IWM
IMO
IWM vs. IMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2000 ETF (IWM) and Imperial Oil Limited (IMO). 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 | IMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.33 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.57 | 3.47 | +0.10 |
| Martin ratioReturn relative to average drawdown | 12.63 | 10.04 | +2.58 |
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Drawdowns
IWM vs. IMO - Drawdown Comparison
The maximum IWM drawdown since its inception was -59.05%, smaller than the maximum IMO drawdown of -84.82%. Use the drawdown chart below to compare losses from any high point for IWM and IMO.
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Drawdown Indicators
| IWM | IMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.05% | -84.82% | +25.77% |
Max Drawdown (1Y)Largest decline over 1 year | -11.03% | -16.51% | +5.48% |
Max Drawdown (3Y)Largest decline over 3 years | -27.50% | -22.95% | -4.55% |
Max Drawdown (5Y)Largest decline over 5 years | -31.91% | -29.72% | -2.19% |
Max Drawdown (10Y)Largest decline over 10 years | -41.13% | -76.96% | +35.83% |
Current DrawdownCurrent decline from peak | 0.00% | -11.88% | +11.88% |
Average DrawdownAverage peak-to-trough decline | -10.76% | -21.19% | +10.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.12% | 5.69% | -2.57% |
Volatility
IWM vs. IMO - Volatility Comparison
The current volatility for iShares Russell 2000 ETF (IWM) is 7.16%, while Imperial Oil Limited (IMO) has a volatility of 9.97%. This indicates that IWM experiences smaller price fluctuations and is considered to be less risky than IMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWM | IMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.16% | 9.97% | -2.81% |
Volatility (6M)Calculated over the trailing 6-month period | 14.29% | 22.21% | -7.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.73% | 27.31% | -7.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.61% | 32.66% | -10.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.08% | 35.55% | -12.47% |
Dividends
IWM vs. IMO - Dividend Comparison
IWM's dividend yield for the trailing twelve months is around 0.87%, less than IMO's 1.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IMO Imperial Oil Limited | 1.90% | 2.40% | 2.84% | 2.73% | 2.30% | 2.28% | 3.50% | 2.41% | 2.36% | 2.02% | 1.70% | 1.66% |
IWM iShares Russell 2000 ETF | 0.87% | 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 IMO have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IMO has higher volatility (9.97%) compared to IWM (7.16%). In terms of maximum drawdown, IWM dropped -59.05% vs IMO's -84.82%.
IMO currently has the higher Sharpe Ratio (2.10 vs 1.99), 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.
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