IWM vs. JPYUSD=X
IWM (iShares Russell 2000 ETF) is Small Cap Blend Equities fund tracking the Russell 2000 Index, while JPYUSD=X (JPY/USD) is a currency. Over the past 10 years, IWM returned 11.27%/yr vs -4.05%/yr for JPYUSD=X. At a correlation of -0.21, they often move in opposite directions.
Performance
IWM vs. JPYUSD=X - Performance Comparison
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Returns By Period
In the year-to-date period, IWM achieves a 19.22% return, which is significantly higher than JPYUSD=X's -2.23% return. Over the past 10 years, IWM has outperformed JPYUSD=X with an annualized return of 11.27%, while JPYUSD=X has yielded a comparatively lower -4.05% 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%
JPYUSD=X
- 1D
- -0.18%
- 1M
- -1.52%
- YTD
- -2.23%
- 6M
- -2.74%
- 1Y
- -10.40%
- 3Y*
- -4.35%
- 5Y*
- -7.30%
- 10Y*
- -4.05%
IWM vs. JPYUSD=X - 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% |
JPYUSD=X JPY/USD | -2.23% | 0.33% | -10.26% | -7.04% | -12.23% | -10.24% | 5.18% | 0.86% | 2.82% | 3.91% |
Correlation
The correlation between IWM and JPYUSD=X is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.09 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2007 | -0.21 |
The correlation between IWM and JPYUSD=X shifts across timeframes, from -0.21 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IWM vs. JPYUSD=X — Risk / Return Rank
IWM
JPYUSD=X
IWM vs. JPYUSD=X - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2000 ETF (IWM) and JPY/USD (JPYUSD=X). 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 | JPYUSD=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.12 | ||
| Sortino ratioReturn per unit of downside risk | +4.41 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 0.82 | +0.51 |
| Calmar ratioReturn relative to maximum drawdown | 3.57 | -0.79 | +4.36 |
| Martin ratioReturn relative to average drawdown | 12.63 | -1.16 | +13.79 |
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Drawdowns
IWM vs. JPYUSD=X - Drawdown Comparison
The maximum IWM drawdown since its inception was -59.05%, which is greater than JPYUSD=X's maximum drawdown of -52.96%. Use the drawdown chart below to compare losses from any high point for IWM and JPYUSD=X.
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Drawdown Indicators
| IWM | JPYUSD=X | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.05% | -52.96% | -6.09% |
Max Drawdown (1Y)Largest decline over 1 year | -11.03% | -10.68% | -0.35% |
Max Drawdown (3Y)Largest decline over 3 years | -27.50% | -14.63% | -12.87% |
Max Drawdown (5Y)Largest decline over 5 years | -31.91% | -32.59% | +0.68% |
Max Drawdown (10Y)Largest decline over 10 years | -41.13% | -38.21% | -2.92% |
Current DrawdownCurrent decline from peak | 0.00% | -52.52% | +52.52% |
Average DrawdownAverage peak-to-trough decline | -10.76% | -26.91% | +16.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.12% | 6.15% | -3.03% |
Volatility
IWM vs. JPYUSD=X - Volatility Comparison
iShares Russell 2000 ETF (IWM) has a higher volatility of 7.16% compared to JPY/USD (JPYUSD=X) at 0.69%. This indicates that IWM's price experiences larger fluctuations and is considered to be riskier than JPYUSD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWM | JPYUSD=X | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.16% | 0.69% | +6.47% |
Volatility (6M)Calculated over the trailing 6-month period | 14.29% | 5.49% | +8.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.73% | 7.51% | +12.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.61% | 9.56% | +13.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.08% | 8.89% | +14.19% |
Frequently Asked Questions
IWM and JPYUSD=X have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IWM has higher volatility (7.16%) compared to JPYUSD=X (0.69%). In terms of maximum drawdown, IWM dropped -59.05% vs JPYUSD=X's -52.96%.
IWM currently has the higher Sharpe Ratio (1.99 vs -1.13), 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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