IWMY vs. IIPR
IWMY (Defiance R2000 Enhanced Options & 0DTE Income ETF) is Options Trading fund tracking the Russell 2000 Index, while IIPR (Innovative Industrial Properties, Inc.) is a stock. Over the past year, IWMY returned 23.55% vs 24.22% for IIPR. A 0.52 correlation means they provide meaningful diversification when combined.
Performance
IWMY vs. IIPR - Performance Comparison
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Returns By Period
In the year-to-date period, IWMY achieves a 13.70% return, which is significantly lower than IIPR's 32.69% return.
IWMY
- 1D
- 0.68%
- 1M
- 4.70%
- YTD
- 13.70%
- 6M
- 10.66%
- 1Y
- 23.55%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IIPR
- 1D
- -2.07%
- 1M
- 12.06%
- YTD
- 32.69%
- 6M
- 15.09%
- 1Y
- 24.22%
- 3Y*
- 4.81%
- 5Y*
- -13.57%
- 10Y*
- —
IWMY vs. IIPR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF | 13.70% | 10.18% | 5.56% | 10.06% |
IIPR Innovative Industrial Properties, Inc. | 32.69% | -18.40% | -28.55% | 46.27% |
Correlation
The correlation between IWMY and IIPR is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Oct 31, 2023 | 0.52 |
The correlation between IWMY and IIPR has been stable across timeframes, ranging from 0.45 to 0.52 - a consistent structural relationship.
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Return for Risk
IWMY vs. IIPR — Risk / Return Rank
IWMY
IIPR
IWMY vs. IIPR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY) and Innovative Industrial Properties, Inc. (IIPR). 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.
| IWMY | IIPR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.75 | ||
| Sortino ratioReturn per unit of downside risk | +0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.14 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.85 | 1.09 | +0.76 |
| Martin ratioReturn relative to average drawdown | 6.03 | 2.65 | +3.38 |
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Drawdowns
IWMY vs. IIPR - Drawdown Comparison
The maximum IWMY drawdown since its inception was -18.72%, smaller than the maximum IIPR drawdown of -78.42%. Use the drawdown chart below to compare losses from any high point for IWMY and IIPR.
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Drawdown Indicators
| IWMY | IIPR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.72% | -78.42% | +59.70% |
Max Drawdown (1Y)Largest decline over 1 year | -11.57% | -21.29% | +9.72% |
Max Drawdown (3Y)Largest decline over 3 years | — | -62.92% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -78.42% | — |
Current DrawdownCurrent decline from peak | -0.12% | -68.14% | +68.02% |
Average DrawdownAverage peak-to-trough decline | -2.96% | -37.34% | +34.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.54% | 8.73% | -5.19% |
Volatility
IWMY vs. IIPR - Volatility Comparison
The current volatility for Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY) is 6.80%, while Innovative Industrial Properties, Inc. (IIPR) has a volatility of 9.13%. This indicates that IWMY experiences smaller price fluctuations and is considered to be less risky than IIPR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWMY | IIPR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.80% | 9.13% | -2.33% |
Volatility (6M)Calculated over the trailing 6-month period | 13.47% | 30.31% | -16.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.36% | 41.56% | -25.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.94% | 41.71% | -25.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.94% | 48.46% | -32.52% |
Dividends
IWMY vs. IIPR - Dividend Comparison
IWMY's dividend yield for the trailing twelve months is around 44.61%, more than IIPR's 12.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
IIPR Innovative Industrial Properties, Inc. | 12.56% | 16.05% | 11.28% | 7.16% | 7.01% | 2.18% | 2.44% | 3.73% | 1.87% | 1.70% |
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF | 44.61% | 63.33% | 107.92% | 11.34% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IWMY and IIPR have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IIPR has higher volatility (9.13%) compared to IWMY (6.80%). In terms of maximum drawdown, IWMY dropped -18.72% vs IIPR's -78.42%.
IWMY currently has the higher Sharpe Ratio (1.31 vs 0.56), 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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