IWM vs. TNA
Compare and contrast key facts about iShares Russell 2000 ETF (IWM) and Direxion Daily Small Cap Bull 3X Shares (TNA).
IWM and TNA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IWM is a passively managed fund by iShares that tracks the performance of the Russell 2000 Index. It was launched on May 22, 2000. TNA is a passively managed fund by Direxion that tracks the performance of the Russell 2000 Index (300%). It was launched on Nov 5, 2008. Both IWM and TNA are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: IWM or TNA.
Key characteristics
| IWM | TNA | |
|---|---|---|
| YTD Return | -0.92% | -10.38% |
| 1Y Return | 15.78% | 22.46% |
| 3Y Return (Ann) | -3.35% | -28.50% |
| 5Y Return (Ann) | 6.01% | -11.60% |
| 10Y Return (Ann) | 7.40% | 0.82% |
| Sharpe Ratio | 0.88 | 0.46 |
| Daily Std Dev | 19.75% | 59.11% |
| Max Drawdown | -59.05% | -88.09% |
| Current Drawdown | -15.33% | -67.81% |
Correlation
The correlation between IWM and TNA is 1.00, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
IWM vs. TNA - Performance Comparison
In the year-to-date period, IWM achieves a -0.92% return, which is significantly higher than TNA's -10.38% return. Over the past 10 years, IWM has outperformed TNA with an annualized return of 7.40%, while TNA has yielded a comparatively lower 0.82% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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IWM vs. TNA - Expense Ratio Comparison
IWM has a 0.19% expense ratio, which is lower than TNA's 1.14% expense ratio.
Risk-Adjusted Performance
IWM vs. TNA - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2000 ETF (IWM) and Direxion Daily Small Cap Bull 3X Shares (TNA). 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.
Dividends
IWM vs. TNA - Dividend Comparison
IWM's dividend yield for the trailing twelve months is around 1.31%, less than TNA's 1.38% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWM iShares Russell 2000 ETF | 1.31% | 1.35% | 1.48% | 0.94% | 1.04% | 1.26% | 1.40% | 1.26% | 1.38% | 1.54% | 1.26% | 1.23% |
TNA Direxion Daily Small Cap Bull 3X Shares | 1.38% | 1.27% | 0.31% | 0.06% | 0.03% | 0.44% | 0.36% | 0.15% | 0.00% | 0.00% | 0.59% | 1.53% |
Drawdowns
IWM vs. TNA - Drawdown Comparison
The maximum IWM drawdown since its inception was -59.05%, smaller than the maximum TNA drawdown of -88.09%. Use the drawdown chart below to compare losses from any high point for IWM and TNA. For additional features, visit the drawdowns tool.
Volatility
IWM vs. TNA - Volatility Comparison
The current volatility for iShares Russell 2000 ETF (IWM) is 5.10%, while Direxion Daily Small Cap Bull 3X Shares (TNA) has a volatility of 15.46%. This indicates that IWM experiences smaller price fluctuations and is considered to be less risky than TNA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.