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IWM vs. USXF
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IWM vs. USXF

Last updated Jun 16, 2026

IWM (iShares Russell 2000 ETF) and USXF (iShares ESG Advanced MSCI USA ETF) are both exchange-traded funds - IWM is a Small Cap Blend Equities fund tracking the Russell 2000 Index, while USXF is a Large Cap Growth Equities fund tracking the MSCI USA Choice ESG Screened Index. Both are passively managed. Over the past 5 years, IWM returned 6.41%/yr vs 15.64%/yr for USXF. A 0.77 correlation means they provide meaningful diversification when combined. IWM charges 0.19%/yr vs 0.10%/yr for USXF.

Performance

IWM vs. USXF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell 2000 ETF (IWM) and iShares ESG Advanced MSCI USA ETF (USXF). 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 20.19% return and USXF slightly higher at 20.37%.

IWM

1D
0.82%
1M
6.39%
YTD
20.19%
6M
17.83%
1Y
42.91%
3Y*
17.97%
5Y*
6.41%
10Y*
11.40%

USXF

1D
2.44%
1M
5.10%
YTD
20.37%
6M
21.61%
1Y
36.09%
3Y*
25.87%
5Y*
15.64%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

IWM vs. USXF - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
IWM
iShares Russell 2000 ETF		20.19%12.66%11.38%16.83%-20.48%14.54%39.26%
USXF
iShares ESG Advanced MSCI USA ETF		20.37%16.97%26.16%31.65%-21.20%27.14%23.07%

Correlation

The correlation between IWM and USXF is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.75

Correlation (3Y)
Calculated over the trailing 3-year period

0.75

Correlation (5Y)
Calculated over the trailing 5-year period

0.80

Correlation (All Time)
Calculated using the full available price history since Jun 18, 2020

0.77

The correlation between IWM and USXF has been stable across timeframes, ranging from 0.75 to 0.80 - a consistent structural relationship.

IWM vs. USXF - Sectors Allocation Comparison

Sectors
IWM
USXF

Technology

19.2%
53.9%

Industrials

17.9%
8.0%

Healthcare

16.3%
5.7%

Financial Services

15.4%
15.1%

Consumer Cyclical

7.9%
6.6%

Real Estate

5.9%
4.0%

Energy

5.4%
0.1%

Basic Materials

4.7%
2.3%

Utilities

2.7%
1.1%

Communication Services

2.5%
2.0%

Consumer Defensive

2.2%
0.9%

Technology

IWM
19.2%
USXF
53.9%

Industrials

IWM
17.9%
USXF
8.0%

Healthcare

IWM
16.3%
USXF
5.7%

Financial Services

IWM
15.4%
USXF
15.1%

Consumer Cyclical

IWM
7.9%
USXF
6.6%

Real Estate

IWM
5.9%
USXF
4.0%

Energy

IWM
5.4%
USXF
0.1%

Basic Materials

IWM
4.7%
USXF
2.3%

Utilities

IWM
2.7%
USXF
1.1%

Communication Services

IWM
2.5%
USXF
2.0%

Consumer Defensive

IWM
2.2%
USXF
0.9%

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

iShares ESG Advanced MSCI USA ETF

Often compared with IWM:
IWM vs. SPYIWM vs. VTWOIWM vs. IJRIWM vs. AVUVIWM vs. IWNIWM vs. VOOIWM vs. TNA
Often compared with USXF:
USXF vs. SCHGUSXF vs. QQQUSXF vs. SPYXUSXF vs. SPYUSXF vs. ESGVUSXF vs. VOOUSXF vs. SMH

Return for Risk

IWM vs. USXF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IWM
IWM Risk / Return Rank: 7676
Overall Rank
IWM Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
IWM Sortino Ratio Rank: 7575
Sortino Ratio Rank
IWM Omega Ratio Rank: 6767
Omega Ratio Rank
IWM Calmar Ratio Rank: 8282
Calmar Ratio Rank
IWM Martin Ratio Rank: 7979
Martin Ratio Rank
USXF
USXF Risk / Return Rank: 7272
Overall Rank
USXF Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
USXF Sortino Ratio Rank: 6666
Sortino Ratio Rank
USXF Omega Ratio Rank: 6868
Omega Ratio Rank
USXF Calmar Ratio Rank: 7676
Calmar Ratio Rank
USXF Martin Ratio Rank: 7878
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IWM vs. USXF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2000 ETF (IWM) and iShares ESG Advanced MSCI USA ETF (USXF). 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.

IWMUSXFDifference
Sharpe ratioReturn per unit of total volatility
2.20
2.10

+0.09

Sortino ratioReturn per unit of downside risk
2.99
2.77

+0.22

Omega ratioGain probability vs. loss probability

1.36

1.37

-0.01

Calmar ratioReturn relative to maximum drawdown

3.91

3.56

+0.35

Martin ratioReturn relative to average drawdown

13.84

13.71

+0.13

IWM vs. USXF - Sharpe Ratio Comparison

The current IWM Sharpe Ratio is 2.20, which is comparable to the USXF Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of IWM and USXF, 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. USXF - Drawdown Comparison

The maximum IWM drawdown since its inception was -59.05%, which is greater than USXF's maximum drawdown of -29.54%. Use the drawdown chart below to compare losses from any high point for IWM and USXF.

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Drawdown Indicators

IWMUSXFDifference

Max Drawdown

Largest peak-to-trough decline

-59.05%

-29.54%

-29.51%

Max Drawdown (1Y)

Largest decline over 1 year

-11.03%

-10.19%

-0.84%

Max Drawdown (3Y)

Largest decline over 3 years

-27.50%

-20.93%

-6.57%

Max Drawdown (5Y)

Largest decline over 5 years

-31.91%

-29.54%

-2.37%

Max Drawdown (10Y)

Largest decline over 10 years

-41.13%

—

—

Current Drawdown

Current decline from peak

0.00%

-0.83%

+0.83%

Average Drawdown

Average peak-to-trough decline

-10.75%

-6.40%

-4.35%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.11%

2.64%

+0.47%

Volatility

IWM vs. USXF - Volatility Comparison

The current volatility for iShares Russell 2000 ETF (IWM) is 7.17%, while iShares ESG Advanced MSCI USA ETF (USXF) has a volatility of 7.98%. This indicates that IWM experiences smaller price fluctuations and is considered to be less risky than USXF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IWMUSXFDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.17%

7.98%

-0.81%

Volatility (6M)

Calculated over the trailing 6-month period

14.27%

14.39%

-0.12%

Volatility (1Y)

Calculated over the trailing 1-year period

19.67%

17.29%

+2.38%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.62%

19.76%

+2.86%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.09%

19.31%

+3.78%

IWM vs. USXF - Expense Ratio Comparison

IWM has a 0.19% expense ratio, which is higher than USXF's 0.10% 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. USXF - Dividend Comparison

IWM's dividend yield for the trailing twelve months is around 1.10%, more than USXF's 0.98% yield.

PositionTTM20252024202320222021202020192018201720162015
IWM
iShares Russell 2000 ETF		1.10%1.04%1.15%1.35%1.48%0.94%1.04%1.26%1.40%1.26%1.38%1.54%
USXF
iShares ESG Advanced MSCI USA ETF		0.98%0.93%1.00%1.21%1.39%0.86%0.58%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

IWM and USXF have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

USXF has higher volatility (7.98%) compared to IWM (7.17%). In terms of maximum drawdown, IWM dropped -59.05% vs USXF's -29.54%.

On 5-year performance, USXF leads with 15.64% vs 6.41% for IWM. On fees, USXF is cheaper at 0.10% per year. On volatility, IWM has been the lower-risk option at 7.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, USXF has performed better with a 15.64% return vs 6.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

USXF is cheaper with a 0.10% expense ratio, compared with 0.19% for IWM.

IWM has the higher dividend yield at 1.10%, compared with 0.98% for USXF.

IWM is categorized as Small Cap Blend Equities, while USXF is Large Cap Growth Equities. IWM tracks Russell 2000 Index, while USXF tracks MSCI USA Choice ESG Screened Index. Their fees differ too: 0.19% for IWM and 0.10% for USXF.

IWM currently has the higher Sharpe Ratio (2.20 vs 2.10), 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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