IWMY vs. IWS
IWMY (Defiance R2000 Enhanced Options & 0DTE Income ETF) and IWS (iShares Russell Mid-Cap Value ETF) are both exchange-traded funds - IWMY is a Options Trading fund tracking the Russell 2000 Index, while IWS is a Mid Cap Value Equities fund tracking the Russell Midcap Value Index. Both are passively managed. Over the past year, IWMY returned 19.66% vs 24.70% for IWS. Their correlation of 0.84 suggests significant overlap in exposure. IWMY charges 0.99%/yr vs 0.23%/yr for IWS.
Performance
IWMY vs. IWS - Performance Comparison
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Returns By Period
In the year-to-date period, IWMY achieves a 10.55% return, which is significantly lower than IWS's 13.43% return.
IWMY
- 1D
- 0.63%
- 1M
- -0.57%
- YTD
- 10.55%
- 6M
- 8.47%
- 1Y
- 19.66%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IWS
- 1D
- 0.04%
- 1M
- 1.01%
- YTD
- 13.43%
- 6M
- 13.77%
- 1Y
- 24.70%
- 3Y*
- 16.23%
- 5Y*
- 8.15%
- 10Y*
- 10.08%
IWMY vs. IWS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF | 10.55% | 10.18% | 5.56% | 10.06% |
IWS iShares Russell Mid-Cap Value ETF | 13.43% | 10.82% | 12.91% | 18.96% |
Correlation
The correlation between IWMY and IWS is 0.84, 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 | 0.84 |
Correlation (All Time) Calculated using the full available price history since Oct 31, 2023 | 0.84 |
The correlation between IWMY and IWS has been stable across timeframes, ranging from 0.84 to 0.84 - a consistent structural relationship.
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Return for Risk
IWMY vs. IWS — Risk / Return Rank
IWMY
IWS
IWMY vs. IWS - 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 Mid-Cap Value ETF (IWS). 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 | IWS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.64 | ||
| Sortino ratioReturn per unit of downside risk | -1.00 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.33 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.71 | 3.29 | -1.59 |
| Martin ratioReturn relative to average drawdown | 5.59 | 12.38 | -6.79 |
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
| IWMY | IWS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.23 | 1.87 | -0.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.47 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.52 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.90 | 0.42 | +0.48 |
Drawdowns
IWMY vs. IWS - Drawdown Comparison
The maximum IWMY drawdown since its inception was -18.72%, smaller than the maximum IWS drawdown of -62.40%. Use the drawdown chart below to compare losses from any high point for IWMY and IWS.
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Drawdown Indicators
| IWMY | IWS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.72% | -62.40% | +43.68% |
Max Drawdown (1Y)Largest decline over 1 year | -11.57% | -7.53% | -4.04% |
Max Drawdown (3Y)Largest decline over 3 years | — | -20.57% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.23% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.83% | — |
Current DrawdownCurrent decline from peak | -2.89% | -1.83% | -1.06% |
Average DrawdownAverage peak-to-trough decline | -2.98% | -8.02% | +5.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.53% | 2.00% | +1.53% |
Volatility
IWMY vs. IWS - Volatility Comparison
Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY) has a higher volatility of 6.26% compared to iShares Russell Mid-Cap Value ETF (IWS) at 3.45%. This indicates that IWMY's price experiences larger fluctuations and is considered to be riskier than IWS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWMY | IWS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.26% | 3.45% | +2.81% |
Volatility (6M)Calculated over the trailing 6-month period | 13.20% | 9.74% | +3.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.15% | 13.30% | +2.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.90% | 17.32% | -1.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.90% | 19.37% | -3.47% |
IWMY vs. IWS - Expense Ratio Comparison
IWMY has a 0.99% expense ratio, which is higher than IWS's 0.23% expense ratio.
Dividends
IWMY vs. IWS - Dividend Comparison
IWMY's dividend yield for the trailing twelve months is around 46.29%, more than IWS's 1.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF | 46.29% | 63.33% | 107.92% | 11.34% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IWS iShares Russell Mid-Cap Value ETF | 1.36% | 1.53% | 1.50% | 1.76% | 1.93% | 1.39% | 1.87% | 1.97% | 2.53% | 1.96% | 2.10% | 2.14% |
Frequently Asked Questions
IWMY and IWS have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IWMY has higher volatility (6.26%) compared to IWS (3.45%). In terms of maximum drawdown, IWMY dropped -18.72% vs IWS's -62.40%.
On 1-year performance, IWS leads with 24.70% vs 19.66% for IWMY. On fees, IWS is cheaper at 0.23% per year. On volatility, IWS has been the lower-risk option at 3.45%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IWS has performed better with a 24.70% return vs 19.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IWS is cheaper with a 0.23% expense ratio, compared with 0.99% for IWMY.
IWMY has the higher dividend yield at 46.29%, compared with 1.36% for IWS.
IWMY is categorized as Options Trading, while IWS is Mid Cap Value Equities. IWMY tracks Russell 2000 Index, while IWS tracks Russell Midcap Value Index. They also come from different issuers: Defiance and iShares. Their fees differ too: 0.99% for IWMY and 0.23% for IWS.
IWS currently has the higher Sharpe Ratio (1.87 vs 1.23), 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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