IWMY vs. IWM
IWMY (Defiance R2000 Enhanced Options & 0DTE Income ETF) and IWM (iShares Russell 2000 ETF) are both exchange-traded funds - IWMY is a Options Trading fund tracking the Russell 2000 Index, while IWM is a Small Cap Blend Equities fund tracking the Russell 2000 Index. Both are passively managed. Over the past year, IWMY returned 23.33% vs 39.10% for IWM. Their correlation of 0.92 suggests significant overlap in exposure. IWMY charges 0.99%/yr vs 0.19%/yr for IWM.
Performance
IWMY vs. IWM - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IWMY achieves a 12.25% return, which is significantly lower than IWM's 17.07% return.
IWMY
- 1D
- -1.36%
- 1M
- 3.06%
- YTD
- 12.25%
- 6M
- 10.99%
- 1Y
- 23.33%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IWM
- 1D
- -1.37%
- 1M
- 3.52%
- YTD
- 17.07%
- 6M
- 15.83%
- 1Y
- 39.10%
- 3Y*
- 17.88%
- 5Y*
- 6.11%
- 10Y*
- 10.93%
IWMY vs. IWM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF | 12.25% | 10.18% | 5.56% | 9.74% |
IWM iShares Russell 2000 ETF | 17.07% | 12.66% | 11.38% | 22.44% |
Correlation
The correlation between IWMY and IWM is 0.94, 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 | 0.94 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 2023 | 0.92 |
The correlation between IWMY and IWM has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IWMY vs. IWM — Risk / Return Rank
IWMY
IWM
IWMY vs. IWM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY) and iShares Russell 2000 ETF (IWM). 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.
| IWMY | IWM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.56 | ||
| Sortino ratioReturn per unit of downside risk | -0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.34 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.03 | 3.56 | -1.54 |
| Martin ratioReturn relative to average drawdown | 6.66 | 12.64 | -5.99 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| IWMY | IWM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.49 | 2.05 | -0.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.27 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.48 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.95 | 0.37 | +0.59 |
Drawdowns
IWMY vs. IWM - Drawdown Comparison
The maximum IWMY drawdown since its inception was -18.72%, smaller than the maximum IWM drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for IWMY and IWM.
Loading charts...
Drawdown Indicators
| IWMY | IWM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.72% | -59.05% | +40.33% |
Max Drawdown (1Y)Largest decline over 1 year | -11.57% | -11.03% | -0.54% |
Max Drawdown (3Y)Largest decline over 3 years | — | -27.50% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -31.91% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.13% | — |
Current DrawdownCurrent decline from peak | -1.36% | -1.49% | +0.13% |
Average DrawdownAverage peak-to-trough decline | -2.98% | -10.77% | +7.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.51% | 3.10% | +0.41% |
Volatility
IWMY vs. IWM - Volatility Comparison
The current volatility for Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY) is 5.42%, while iShares Russell 2000 ETF (IWM) has a volatility of 5.75%. This indicates that IWMY experiences smaller price fluctuations and is considered to be less risky than IWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IWMY | IWM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.42% | 5.75% | -0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 12.62% | 13.53% | -0.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.69% | 19.20% | -3.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.75% | 22.52% | -6.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.75% | 23.04% | -7.29% |
IWMY vs. IWM - Expense Ratio Comparison
IWMY has a 0.99% expense ratio, which is higher than IWM's 0.19% expense ratio.
Dividends
IWMY vs. IWM - Dividend Comparison
IWMY's dividend yield for the trailing twelve months is around 45.96%, more than IWM's 0.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWM iShares Russell 2000 ETF | 0.88% | 1.04% | 1.15% | 1.35% | 1.48% | 0.94% | 1.04% | 1.26% | 1.40% | 1.26% | 1.38% | 1.54% |
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF | 45.96% | 63.33% | 107.92% | 11.34% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.94, IWMY and IWM move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
IWM has higher volatility (5.75%) compared to IWMY (5.42%). In terms of maximum drawdown, IWMY dropped -18.72% vs IWM's -59.05%.
On 1-year performance, IWM leads with 39.10% vs 23.33% for IWMY. On fees, IWM is cheaper at 0.19% per year. On volatility, IWMY has been the lower-risk option at 5.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IWM has performed better with a 39.10% return vs 23.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IWM is cheaper with a 0.19% expense ratio, compared with 0.99% for IWMY.
IWMY has the higher dividend yield at 45.96%, compared with 0.88% for IWM.
IWMY is categorized as Options Trading, while IWM is Small Cap Blend Equities. Both ETFs track Russell 2000 Index. They also come from different issuers: Defiance and iShares. Their fees differ too: 0.99% for IWMY and 0.19% for IWM.
IWM currently has the higher Sharpe Ratio (2.05 vs 1.49), 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.
Find the right allocation for IWMY and IWM
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer