IWML vs. SMLF
Compare and contrast key facts about ETRACS 2x Leveraged US Size Factor TR ETN (IWML) and iShares MSCI USA Small-Cap Multifactor ETF (SMLF).
IWML and SMLF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IWML is a passively managed fund by UBS that tracks the performance of the Russell 2000 Index. It was launched on Feb 4, 2021. SMLF is a passively managed fund by iShares that tracks the performance of the MSCI USA Small Cap Diversified Multi-Factor. It was launched on Apr 28, 2015. Both IWML and SMLF 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: IWML or SMLF.
Key characteristics
| IWML | SMLF | |
|---|---|---|
| YTD Return | 6.72% | 8.42% |
| 1Y Return | 37.17% | 31.36% |
| 3Y Return (Ann) | -8.20% | 6.99% |
| Sharpe Ratio | 0.85 | 1.64 |
| Daily Std Dev | 39.38% | 17.86% |
| Max Drawdown | -60.06% | -41.89% |
| Current Drawdown | -35.18% | 0.00% |
Correlation
The correlation between IWML and SMLF is 0.96, 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
IWML vs. SMLF - Performance Comparison
In the year-to-date period, IWML achieves a 6.72% return, which is significantly lower than SMLF's 8.42% 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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IWML vs. SMLF - Expense Ratio Comparison
IWML has a 0.95% expense ratio, which is higher than SMLF's 0.30% expense ratio.
Risk-Adjusted Performance
IWML vs. SMLF - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS 2x Leveraged US Size Factor TR ETN (IWML) and iShares MSCI USA Small-Cap Multifactor ETF (SMLF). 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
IWML vs. SMLF - Dividend Comparison
IWML has not paid dividends to shareholders, while SMLF's dividend yield for the trailing twelve months is around 1.04%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
IWML ETRACS 2x Leveraged US Size Factor TR ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SMLF iShares MSCI USA Small-Cap Multifactor ETF | 1.04% | 1.13% | 1.23% | 1.07% | 1.33% | 1.39% | 1.17% | 0.93% | 0.78% | 0.79% |
Drawdowns
IWML vs. SMLF - Drawdown Comparison
The maximum IWML drawdown since its inception was -60.06%, which is greater than SMLF's maximum drawdown of -41.89%. Use the drawdown chart below to compare losses from any high point for IWML and SMLF. For additional features, visit the drawdowns tool.
Volatility
IWML vs. SMLF - Volatility Comparison
ETRACS 2x Leveraged US Size Factor TR ETN (IWML) has a higher volatility of 9.03% compared to iShares MSCI USA Small-Cap Multifactor ETF (SMLF) at 4.11%. This indicates that IWML's price experiences larger fluctuations and is considered to be riskier than SMLF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.