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IWM vs. SLYV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IWM vs. SLYV

Last updated Aug 6, 2026
Documentation

IWM (iShares Russell 2000 ETF) and SLYV (SPDR S&P 600 Small Cap Value ETF) are both exchange-traded funds - IWM is a Small Cap Blend Equities fund tracking the Russell 2000 Index, while SLYV is a Small Cap Value Equities fund tracking the S&P SmallCap 600 Value Index. Both are passively managed. Over the past 10 years, IWM returned 10.76%/yr vs 10.30%/yr for SLYV. Their correlation of 0.89 means they have usually moved in the same direction. IWM charges 0.19%/yr vs 0.15%/yr for SLYV.

Performance

IWM vs. SLYV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell 2000 ETF (IWM) and SPDR S&P 600 Small Cap Value ETF (SLYV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both investments are quite close, with IWM having a 22.29% return and SLYV slightly higher at 22.83%. Both investments have delivered pretty close results over the past 10 years, with IWM having a 10.76% annualized return and SLYV not far behind at 10.30%.

IWM

1D
-0.64%
1M
0.29%
6M
15.54%
YTD
22.29%
1Y
37.14%
3Y*
16.95%
5Y*
7.39%
10Y*
10.76%
ALL TIME*
8.85%

SLYV

1D
-1.07%
1M
2.53%
6M
11.74%
YTD
22.83%
1Y
39.19%
3Y*
13.81%
5Y*
8.24%
10Y*
10.30%
ALL TIME*
10.82%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

IWM

iShares Russell 2000 ETF
$6.83B$6.34B$7.39B

SLYV

SPDR S&P 600 Small Cap Value ETF
$22.91M$17.95M$22.80M

IWM vs. SLYV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IWM
iShares Russell 2000 ETF		22.29%12.66%11.38%16.83%-20.48%14.54%20.03%25.39%-11.12%14.58%
SLYV
SPDR S&P 600 Small Cap Value ETF		22.83%6.54%7.28%14.82%-11.08%30.57%2.68%24.26%-12.77%11.74%

Correlation

The correlation between IWM and SLYV is 0.86, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.86

Correlation (3Y)
Balances recent behavior with more history.

0.92

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.93

Correlation (10Y)
Provides a long-term view across more market conditions.

0.93

Correlation (All Time)
Calculated using the full available price history since Oct 2, 2000

0.89

The correlation between IWM and SLYV has been stable across timeframes, ranging from 0.86 to 0.93 - a consistent structural relationship.

IWM vs. SLYV - Sectors Allocation Comparison

Sectors
IWM
SLYV

Healthcare

20.0%
6.3%

Financial Services

18.3%
21.6%

Industrials

13.7%
12.3%

Technology

13.6%
11.3%

Consumer Cyclical

9.2%
15.5%

Real Estate

7.0%
8.2%

Energy

5.6%
7.3%

Basic Materials

4.5%
5.7%

Utilities

2.9%
2.1%

Consumer Defensive

2.8%
5.7%

Communication Services

2.0%
3.8%

Healthcare

IWM
20.0%
SLYV
6.3%

Financial Services

IWM
18.3%
SLYV
21.6%

Industrials

IWM
13.7%
SLYV
12.3%

Technology

IWM
13.6%
SLYV
11.3%

Consumer Cyclical

IWM
9.2%
SLYV
15.5%

Real Estate

IWM
7.0%
SLYV
8.2%

Energy

IWM
5.6%
SLYV
7.3%

Basic Materials

IWM
4.5%
SLYV
5.7%

Utilities

IWM
2.9%
SLYV
2.1%

Consumer Defensive

IWM
2.8%
SLYV
5.7%

Communication Services

IWM
2.0%
SLYV
3.8%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Russell 2000 ETF

SPDR S&P 600 Small Cap Value ETF

Often compared with IWM:
IWM vs. SPYIWM vs. VTWOIWM vs. IJRIWM vs. AVUVIWM vs. VOOIWM vs. IWNIWM vs. IWO
Often compared with SLYV:
SLYV vs. AVUVSLYV vs. SLYGSLYV vs. VOOSLYV vs. VBRSLYV vs. SPYSLYV vs. VIOVSLYV vs. QQQ

Return for Risk

IWM vs. SLYV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
IWM
IWM Risk / Return Rank: 7676
Overall Rank
IWM Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
IWM Sortino Ratio Rank: 7474
Sortino Ratio Rank
IWM Omega Ratio Rank: 6767
Omega Ratio Rank
IWM Calmar Ratio Rank: 8282
Calmar Ratio Rank
IWM Martin Ratio Rank: 8181
Martin Ratio Rank
SLYV
SLYV Risk / Return Rank: 8787
Overall Rank
SLYV Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
SLYV Sortino Ratio Rank: 8787
Sortino Ratio Rank
SLYV Omega Ratio Rank: 8282
Omega Ratio Rank
SLYV Calmar Ratio Rank: 9090
Calmar Ratio Rank
SLYV Martin Ratio Rank: 8888
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IWM vs. SLYV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2000 ETF (IWM) and SPDR S&P 600 Small Cap Value ETF (SLYV). 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.

IWMSLYVDifference
Sharpe ratioReturn per unit of total volatility
1.93
2.23

-0.30

Sortino ratioReturn per unit of downside risk
2.72
3.23

-0.50

Omega ratioGain probability vs. loss probability

1.32

1.39

-0.06

Calmar ratioReturn relative to maximum drawdown

3.38

4.21

-0.82

Martin ratioReturn relative to average drawdown

11.99

14.52

-2.53

IWM vs. SLYV - Sharpe Ratio Comparison

The current IWM Sharpe Ratio is 1.93, which is comparable to the SLYV Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of IWM and SLYV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

IWM vs. SLYV - Drawdown Comparison

The maximum IWM drawdown since its inception was -59.05%, roughly equal to the maximum SLYV drawdown of -61.15%. Use the drawdown chart below to compare losses from any high point for IWM and SLYV.

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Drawdown Indicators

IWMSLYVDifference

Max Drawdown

Largest peak-to-trough decline

-59.05%

-61.15%

+2.10%

Max Drawdown (1Y)

Largest decline over 1 year

-11.03%

-9.36%

-1.67%

Max Drawdown (3Y)

Largest decline over 3 years

-27.50%

-28.68%

+1.18%

Max Drawdown (5Y)

Largest decline over 5 years

-31.91%

-28.68%

-3.23%

Max Drawdown (10Y)

Largest decline over 10 years

-41.13%

-47.73%

+6.60%

Current Drawdown

Current decline from peak

-0.64%

-1.07%

+0.43%

Average Drawdown

Average peak-to-trough decline

-10.70%

-8.89%

-1.81%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.11%

2.71%

+0.40%

Volatility

IWM vs. SLYV - Volatility Comparison

iShares Russell 2000 ETF (IWM) has a higher volatility of 4.53% compared to SPDR S&P 600 Small Cap Value ETF (SLYV) at 4.14%. This indicates that IWM's price experiences larger fluctuations and is considered to be riskier than SLYV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IWMSLYVDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.53%

4.14%

+0.39%

Volatility (6M)

Calculated over the trailing 6-month period

14.23%

11.29%

+2.94%

Volatility (1Y)

Calculated over the trailing 1-year period

19.30%

17.64%

+1.66%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.49%

21.68%

+0.81%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.02%

23.90%

-0.88%

IWM vs. SLYV - Expense Ratio Comparison

IWM has a 0.19% expense ratio, which is higher than SLYV's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IWM vs. SLYV - Dividend Comparison

IWM's dividend yield for the trailing twelve months is around 0.89%, less than SLYV's 1.79% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
SLYV
SPDR S&P 600 Small Cap Value ETF		1.79%2.02%2.30%2.11%1.47%1.94%1.40%1.67%2.14%5.53%2.18%6.55%

Frequently Asked Questions

IWM and SLYV have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IWM has higher volatility (4.53%) compared to SLYV (4.14%). In terms of maximum drawdown, IWM dropped -59.05% vs SLYV's -61.15%.

On 10-year performance, IWM leads with 10.76% vs 10.30% for SLYV. On fees, SLYV is cheaper at 0.15% per year. On volatility, SLYV has been the lower-risk option at 4.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IWM has performed better with a 10.76% return vs 10.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SLYV is cheaper with a 0.15% expense ratio, compared with 0.19% for IWM.

SLYV has the higher dividend yield at 1.79%, compared with 0.89% for IWM.

IWM is categorized as Small Cap Blend Equities, while SLYV is Small Cap Value Equities. IWM tracks Russell 2000 Index, while SLYV tracks S&P SmallCap 600 Value Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.19% for IWM and 0.15% for SLYV.

SLYV currently has the higher Sharpe Ratio (2.23 vs 1.93), 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.

Portfolio Optimizer

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