IWMW vs. IWMY
Compare and contrast key facts about iShares Russell 2000 BuyWrite ETF (IWMW) and Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY).
IWMW and IWMY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IWMW is a passively managed fund by iShares that tracks the performance of the Cboe FTSE Russell IWM 2% OTM BuyWrite Index - Benchmark TR Gross. It was launched on Mar 14, 2024. IWMY is a passively managed fund by Defiance that tracks the performance of the Russell 2000 Index. It was launched on Oct 30, 2023. Both IWMW and IWMY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
IWMW vs. IWMY - Performance Comparison
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IWMW vs. IWMY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IWMW iShares Russell 2000 BuyWrite ETF | 0.35% | 7.82% | 6.09% |
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF | -0.96% | 10.18% | 5.59% |
Returns By Period
In the year-to-date period, IWMW achieves a 0.35% return, which is significantly higher than IWMY's -0.96% return.
IWMW
- 1D
- 0.38%
- 1M
- -4.01%
- YTD
- 0.35%
- 6M
- 1.81%
- 1Y
- 14.52%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IWMY
- 1D
- 0.61%
- 1M
- -5.59%
- YTD
- -0.96%
- 6M
- -5.14%
- 1Y
- 12.02%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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IWMW vs. IWMY - Expense Ratio Comparison
IWMW has a 0.39% expense ratio, which is lower than IWMY's 0.99% expense ratio.
Return for Risk
IWMW vs. IWMY — Risk / Return Rank
IWMW
IWMY
IWMW vs. IWMY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2000 BuyWrite ETF (IWMW) and Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY). 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.
| IWMW | IWMY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.79 | 0.68 | +0.11 |
Sortino ratioReturn per unit of downside risk | 1.21 | 0.95 | +0.26 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.13 | +0.07 |
Calmar ratioReturn relative to maximum drawdown | 1.04 | 0.97 | +0.07 |
Martin ratioReturn relative to average drawdown | 4.69 | 3.02 | +1.67 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IWMW | IWMY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.79 | 0.68 | +0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.66 | -0.23 |
Correlation
The correlation between IWMW and IWMY is 0.87, 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.
Dividends
IWMW vs. IWMY - Dividend Comparison
IWMW's dividend yield for the trailing twelve months is around 22.48%, less than IWMY's 57.52% yield.
| TTM | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IWMW iShares Russell 2000 BuyWrite ETF | 22.48% | 20.98% | 17.73% | 0.00% |
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF | 57.52% | 63.33% | 107.92% | 11.34% |
Drawdowns
IWMW vs. IWMY - Drawdown Comparison
The maximum IWMW drawdown since its inception was -21.82%, which is greater than IWMY's maximum drawdown of -18.72%. Use the drawdown chart below to compare losses from any high point for IWMW and IWMY.
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Drawdown Indicators
| IWMW | IWMY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.82% | -18.72% | -3.10% |
Max Drawdown (1Y)Largest decline over 1 year | -13.89% | -12.55% | -1.34% |
Current DrawdownCurrent decline from peak | -4.39% | -7.98% | +3.59% |
Average DrawdownAverage peak-to-trough decline | -4.10% | -3.07% | -1.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.07% | 4.04% | -0.97% |
Volatility
IWMW vs. IWMY - Volatility Comparison
The current volatility for iShares Russell 2000 BuyWrite ETF (IWMW) is 5.52%, while Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY) has a volatility of 7.26%. This indicates that IWMW experiences smaller price fluctuations and is considered to be less risky than IWMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWMW | IWMY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.52% | 7.26% | -1.74% |
Volatility (6M)Calculated over the trailing 6-month period | 10.24% | 12.32% | -2.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.38% | 17.74% | +0.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.56% | 15.62% | +0.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.56% | 15.62% | +0.94% |