IWMW vs. VXF

Last updated Jul 15, 2026

IWMW (iShares Russell 2000 BuyWrite ETF) and VXF (Vanguard Extended Market ETF) are both exchange-traded funds - IWMW is a Derivative Income fund tracking the Cboe FTSE Russell IWM 2% OTM BuyWrite Index, while VXF is a Mid Cap Blend Equities fund tracking the S&P Completion Index. Both are passively managed. Over the past year, IWMW returned 24.07% vs 22.98% for VXF. Their correlation of 0.90 suggests significant overlap in exposure. IWMW charges 0.39%/yr vs 0.05%/yr for VXF.

Performance

IWMW vs. VXF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell 2000 BuyWrite ETF (IWMW) and Vanguard Extended Market ETF (VXF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IWMW achieves a 13.26% return, which is significantly lower than VXF's 15.52% return.

IWMW

• 1D: 0.34%
• 1M: 3.14%
• 6M: 10.14%
• YTD: 13.26%
• 1Y: 24.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VXF

• 1D: 0.44%
• 1M: 1.00%
• 6M: 10.19%
• YTD: 15.52%
• 1Y: 22.98%
• 3Y*: 17.62%
• 5Y*: 7.00%
• 10Y*: 11.92%

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

IWMW vs. VXF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IWMW iShares Russell 2000 BuyWrite ETF	13.26%	7.82%	5.85%
VXF Vanguard Extended Market ETF	15.52%	11.40%	13.63%

Correlation

The correlation between IWMW and VXF is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.89
Correlation (All Time) Calculated using the full available price history since Mar 15, 2024	0.90

The correlation between IWMW and VXF has been stable across timeframes, ranging from 0.89 to 0.90 - a consistent structural relationship.

IWMW vs. VXF - Sectors Allocation Comparison

Sectors	IWMW	VXF
Technology	19.1%	22.8%
Industrials	18.0%	19.3%
Healthcare	16.3%	12.9%
Financial Services	15.3%	14.0%
Consumer Cyclical	8.0%	9.2%
Real Estate	5.9%	5.8%
Energy	5.4%	4.4%
Basic Materials	4.7%	4.2%
Utilities	2.7%	1.9%
Communication Services	2.4%	3.2%
Consumer Defensive	2.3%	2.5%

Return for Risk

IWMW vs. VXF — Risk / Return Rank

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

IWMW

IWMW Risk / Return Rank: 79
IWMW Sharpe Ratio Rank: 77
IWMW Sortino Ratio Rank: 74
IWMW Omega Ratio Rank: 82
IWMW Calmar Ratio Rank: 83
IWMW Martin Ratio Rank: 79

VXF

VXF Risk / Return Rank: 50
VXF Sharpe Ratio Rank: 46
VXF Sortino Ratio Rank: 45
VXF Omega Ratio Rank: 43
VXF Calmar Ratio Rank: 57
VXF Martin Ratio Rank: 57

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.

IWMW vs. VXF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2000 BuyWrite ETF (IWMW) and Vanguard Extended Market ETF (VXF). 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	VXF	Difference
Sharpe ratio: Return per unit of total volatility	1.93	1.30	+0.63
Sortino ratio: Return per unit of downside risk	2.65	1.88	+0.77
Omega ratio: Gain probability vs. loss probability	1.38	1.23	+0.16
Calmar ratio: Return relative to maximum drawdown	3.48	2.26	+1.22
Martin ratio: Return relative to average drawdown	12.00	7.91	+4.10

IWMW vs. VXF - Sharpe Ratio Comparison

The current IWMW Sharpe Ratio is 1.93, which is higher than the VXF Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of IWMW and VXF, 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

IWMW vs. VXF - Drawdown Comparison

The maximum IWMW drawdown since its inception was -21.82%, smaller than the maximum VXF drawdown of -58.03%. Use the drawdown chart below to compare losses from any high point for IWMW and VXF.

Drawdown Indicators

	IWMW	VXF	Difference
Max Drawdown Largest peak-to-trough decline	-21.82%	-58.03%	+36.21%
Max Drawdown (1Y) Largest decline over 1 year	-6.94%	-10.21%	+3.27%
Max Drawdown (3Y) Largest decline over 3 years	—	-26.92%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-36.39%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.72%	—
Current Drawdown Current decline from peak	-0.28%	-2.42%	+2.14%
Average Drawdown Average peak-to-trough decline	-3.68%	-9.52%	+5.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	2.92%	-0.91%

Volatility

IWMW vs. VXF - Volatility Comparison

The current volatility for iShares Russell 2000 BuyWrite ETF (IWMW) is 2.11%, while Vanguard Extended Market ETF (VXF) has a volatility of 4.04%. This indicates that IWMW experiences smaller price fluctuations and is considered to be less risky than VXF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWMW	VXF	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.11%	4.04%	-1.93%
Volatility (6M) Calculated over the trailing 6-month period	9.26%	13.26%	-4.00%
Volatility (1Y) Calculated over the trailing 1-year period	12.51%	17.80%	-5.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.90%	22.42%	-6.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.90%	22.26%	-6.36%

IWMW vs. VXF - Expense Ratio Comparison

IWMW has a 0.39% expense ratio, which is higher than VXF's 0.05% expense ratio.

Dividends

IWMW vs. VXF - Dividend Comparison

IWMW's dividend yield for the trailing twelve months is around 21.21%, more than VXF's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IWMW iShares Russell 2000 BuyWrite ETF	21.21%	20.98%	17.73%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VXF Vanguard Extended Market ETF	1.02%	1.14%	1.09%	1.27%	1.15%	1.13%	1.07%	1.30%	1.66%	1.25%	1.43%	1.35%

Frequently Asked Questions

Can I hold both IWMW and VXF in my portfolio?

IWMW and VXF have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IWMW or VXF?

VXF has higher volatility (4.04%) compared to IWMW (2.11%). In terms of maximum drawdown, IWMW dropped -21.82% vs VXF's -58.03%.

Which ETF is better, IWMW or VXF?

On 1-year performance, IWMW leads with 24.07% vs 22.98% for VXF. On fees, VXF is cheaper at 0.05% per year. On volatility, IWMW has been the lower-risk option at 2.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IWMW or VXF?

Over the 1-year period, IWMW has performed better with a 24.07% return vs 22.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IWMW or VXF?

VXF is cheaper with a 0.05% expense ratio, compared with 0.39% for IWMW.

Which ETF pays a higher dividend yield, IWMW or VXF?

IWMW has the higher dividend yield at 21.21%, compared with 1.02% for VXF.

What is the main difference between IWMW and VXF?

IWMW is categorized as Derivative Income, while VXF is Mid Cap Blend Equities. IWMW tracks Cboe FTSE Russell IWM 2% OTM BuyWrite Index, while VXF tracks S&P Completion Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.39% for IWMW and 0.05% for VXF.

Which has better risk-adjusted returns?

IWMW currently has the higher Sharpe Ratio (1.93 vs 1.30), 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.