IWMW vs. IBIT
IWMW (iShares Russell 2000 BuyWrite ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - IWMW is a Derivative Income fund tracking the Cboe FTSE Russell IWM 2% OTM BuyWrite Index, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, IWMW returned 27.46% vs -44.19% for IBIT. Their 0.44 correlation means their historical movements had little consistent relationship. IWMW charges 0.39%/yr vs 0.25%/yr for IBIT.
Performance
IWMW vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, IWMW achieves a 16.00% return, which is significantly higher than IBIT's -26.71% return.
IWMW
- 1D
- 0.93%
- 1M
- 2.47%
- 6M
- 13.33%
- YTD
- 16.00%
- 1Y
- 27.46%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 12.47%
IBIT
- 1D
- 0.64%
- 1M
- 4.36%
- 6M
- -15.96%
- YTD
- -26.71%
- 1Y
- -44.19%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.86%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.29B | $1.33B | $1.64B | |
| $588.35K | $501.88K | $531.86K |
IWMW vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IWMW iShares Russell 2000 BuyWrite ETF | 16.00% | 7.82% | 5.85% |
IBIT iShares Bitcoin Trust ETF | -26.71% | -6.41% | 34.27% |
Correlation
The correlation between IWMW and IBIT is 0.52, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.52 |
Correlation (All Time) Calculated using the full available price history since Mar 15, 2024 | 0.44 |
The correlation between IWMW and IBIT has been stable across timeframes, ranging from 0.44 to 0.52 - a consistent structural relationship.
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Return for Risk
IWMW vs. IBIT — Risk / Return Rank
IWMW
IBIT
IWMW vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2000 BuyWrite ETF (IWMW) and iShares Bitcoin Trust ETF (IBIT). 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.
| IWMW | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.21 | ||
| Sortino ratioReturn per unit of downside risk | +4.46 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 0.84 | +0.60 |
| Calmar ratioReturn relative to maximum drawdown | 3.97 | -0.83 | +4.80 |
| Martin ratioReturn relative to average drawdown | 13.75 | -1.27 | +15.01 |
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Drawdowns
IWMW vs. IBIT - Drawdown Comparison
The maximum IWMW drawdown since its inception was -21.82%, smaller than the maximum IBIT drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for IWMW and IBIT.
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Drawdown Indicators
| IWMW | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.82% | -53.30% | +31.48% |
Max Drawdown (1Y)Largest decline over 1 year | -6.94% | -53.30% | +46.36% |
Current DrawdownCurrent decline from peak | 0.00% | -48.95% | +48.95% |
Average DrawdownAverage peak-to-trough decline | -3.60% | -18.34% | +14.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.00% | 34.94% | -32.94% |
Volatility
IWMW vs. IBIT - Volatility Comparison
The current volatility for iShares Russell 2000 BuyWrite ETF (IWMW) is 3.21%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 8.29%. This indicates that IWMW experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWMW | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.21% | 8.29% | -5.08% |
Volatility (6M)Calculated over the trailing 6-month period | 9.40% | 33.07% | -23.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.61% | 44.40% | -31.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.81% | 49.53% | -33.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.81% | 49.53% | -33.72% |
IWMW vs. IBIT - Expense Ratio Comparison
IWMW has a 0.39% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
IWMW vs. IBIT - Dividend Comparison
IWMW's dividend yield for the trailing twelve months is around 20.25%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% |
IWMW iShares Russell 2000 BuyWrite ETF | 20.25% | 20.98% | 17.73% |
Frequently Asked Questions
IWMW and IBIT have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (8.29%) compared to IWMW (3.21%). In terms of maximum drawdown, IWMW dropped -21.82% vs IBIT's -53.30%.
On 1-year performance, IWMW leads with 27.46% vs -44.19% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, IWMW has been the lower-risk option at 3.21%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IWMW has performed better with a 27.46% return vs -44.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIT is cheaper with a 0.25% expense ratio, compared with 0.39% for IWMW.
IWMW has the higher dividend yield at 20.25%, compared with 0.00% for IBIT.
IWMW is categorized as Derivative Income, while IBIT is Cryptocurrency. IWMW tracks Cboe FTSE Russell IWM 2% OTM BuyWrite Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.39% for IWMW and 0.25% for IBIT.
IWMW currently has the higher Sharpe Ratio (2.21 vs -1.00), 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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