IWMI vs. IDVO

Last updated Jun 21, 2026

IWMI (NEOS Russell 2000 High Income ETF) and IDVO (Amplify CWP International Enhanced Dividend Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, IWMI returned 37.32% vs 35.01% for IDVO. A 0.67 correlation means they provide meaningful diversification when combined. IWMI charges 0.68%/yr vs 0.65%/yr for IDVO.

Performance

IWMI vs. IDVO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS Russell 2000 High Income ETF (IWMI) and Amplify CWP International Enhanced Dividend Income ETF (IDVO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IWMI achieves a 16.41% return, which is significantly higher than IDVO's 13.34% return.

IWMI

• 1D: 1.72%
• 1M: 3.75%
• YTD: 16.41%
• 6M: 14.83%
• 1Y: 37.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IDVO

• 1D: 0.17%
• 1M: 0.36%
• YTD: 13.34%
• 6M: 14.21%
• 1Y: 35.01%
• 3Y*: 21.61%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IWMI vs. IDVO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IWMI NEOS Russell 2000 High Income ETF	16.41%	14.97%	6.58%
IDVO Amplify CWP International Enhanced Dividend Income ETF	13.34%	36.46%	1.01%

Correlation

The correlation between IWMI and IDVO is 0.73, 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	0.73
Correlation (All Time) Calculated using the full available price history since Jun 25, 2024	0.67

The correlation between IWMI and IDVO has been stable across timeframes, ranging from 0.67 to 0.73 - a consistent structural relationship.

IWMI vs. IDVO - Sectors Allocation Comparison

Sectors	IWMI	IDVO
Industrials	17.7%	7.2%
Technology	17.0%	10.7%
Healthcare	16.5%	7.8%
Financial Services	15.7%	19.9%
Consumer Cyclical	8.4%	3.2%
Real Estate	6.1%	-
Energy	6.1%	12.5%
Basic Materials	4.8%	17.1%
Utilities	2.9%	3.2%
Communication Services	2.4%	10.3%
Consumer Defensive	2.4%	8.2%

Return for Risk

IWMI vs. IDVO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IWMI

IWMI Risk / Return Rank: 82
IWMI Sharpe Ratio Rank: 80
IWMI Sortino Ratio Rank: 80
IWMI Omega Ratio Rank: 76
IWMI Calmar Ratio Rank: 85
IWMI Martin Ratio Rank: 88

IDVO

IDVO Risk / Return Rank: 68
IDVO Sharpe Ratio Rank: 67
IDVO Sortino Ratio Rank: 64
IDVO Omega Ratio Rank: 68
IDVO Calmar Ratio Rank: 69
IDVO Martin Ratio Rank: 71

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.

IWMI vs. IDVO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Russell 2000 High Income ETF (IWMI) and Amplify CWP International Enhanced Dividend Income ETF (IDVO). 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.

	IWMI	IDVO	Difference
Sharpe ratio: Return per unit of total volatility	2.42	2.09	+0.33
Sortino ratio: Return per unit of downside risk	3.33	2.81	+0.51
Omega ratio: Gain probability vs. loss probability	1.42	1.38	+0.04
Calmar ratio: Return relative to maximum drawdown	4.43	3.28	+1.14
Martin ratio: Return relative to average drawdown	18.24	12.51	+5.73

IWMI vs. IDVO - Sharpe Ratio Comparison

The current IWMI Sharpe Ratio is 2.42, which is comparable to the IDVO Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of IWMI and IDVO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IWMI vs. IDVO - Drawdown Comparison

The maximum IWMI drawdown since its inception was -23.88%, which is greater than IDVO's maximum drawdown of -15.46%. Use the drawdown chart below to compare losses from any high point for IWMI and IDVO.

Drawdown Indicators

	IWMI	IDVO	Difference
Max Drawdown Largest peak-to-trough decline	-23.88%	-15.46%	-8.42%
Max Drawdown (1Y) Largest decline over 1 year	-8.40%	-10.37%	+1.97%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.46%	—
Current Drawdown Current decline from peak	0.00%	-1.93%	+1.93%
Average Drawdown Average peak-to-trough decline	-4.04%	-2.30%	-1.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.03%	2.72%	-0.69%

Volatility

IWMI vs. IDVO - Volatility Comparison

The current volatility for NEOS Russell 2000 High Income ETF (IWMI) is 5.41%, while Amplify CWP International Enhanced Dividend Income ETF (IDVO) has a volatility of 5.96%. This indicates that IWMI experiences smaller price fluctuations and is considered to be less risky than IDVO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWMI	IDVO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.41%	5.96%	-0.55%
Volatility (6M) Calculated over the trailing 6-month period	11.46%	13.89%	-2.43%
Volatility (1Y) Calculated over the trailing 1-year period	15.38%	16.30%	-0.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.97%	16.48%	+1.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.97%	16.48%	+1.49%

IWMI vs. IDVO - Expense Ratio Comparison

IWMI has a 0.68% expense ratio, which is higher than IDVO's 0.65% expense ratio.

Dividends

IWMI vs. IDVO - Dividend Comparison

IWMI's dividend yield for the trailing twelve months is around 14.51%, more than IDVO's 5.52% yield.

Position	TTM	2025	2024	2023	2022
IDVO Amplify CWP International Enhanced Dividend Income ETF	5.52%	5.42%	6.14%	5.72%	1.96%
IWMI NEOS Russell 2000 High Income ETF	14.51%	14.05%	8.78%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IWMI and IDVO in my portfolio?

IWMI and IDVO have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IWMI or IDVO?

IDVO has higher volatility (5.96%) compared to IWMI (5.41%). In terms of maximum drawdown, IWMI dropped -23.88% vs IDVO's -15.46%.

Which ETF is better, IWMI or IDVO?

On 1-year performance, IWMI leads with 37.32% vs 35.01% for IDVO. On fees, IDVO is cheaper at 0.65% per year. On volatility, IWMI has been the lower-risk option at 5.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IWMI or IDVO?

Over the 1-year period, IWMI has performed better with a 37.32% return vs 35.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IWMI or IDVO?

IDVO is cheaper with a 0.65% expense ratio, compared with 0.68% for IWMI.

Which ETF pays a higher dividend yield, IWMI or IDVO?

IWMI has the higher dividend yield at 14.51%, compared with 5.52% for IDVO.

What is the main difference between IWMI and IDVO?

They also come from different issuers: Neos and Amplify. Their fees differ too: 0.68% for IWMI and 0.65% for IDVO.

Which has better risk-adjusted returns?

IWMI currently has the higher Sharpe Ratio (2.42 vs 2.09), 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.