IWN vs. AIPI

Last updated Jun 9, 2026

IWN (iShares Russell 2000 Value ETF) and AIPI (REX AI Equity Premium Income ETF) are both exchange-traded funds - IWN is a Small Cap Value Equities fund tracking the Russell 2000 Value Index, while AIPI is a Derivative Income fund actively managed by REX. IWN is passively managed, while AIPI is actively managed. Over the past year, IWN returned 39.09% vs 26.32% for AIPI. A 0.53 correlation means they provide meaningful diversification when combined. IWN charges 0.24%/yr vs 0.65%/yr for AIPI.

Performance

IWN vs. AIPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell 2000 Value ETF (IWN) and REX AI Equity Premium Income ETF (AIPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IWN achieves a 16.90% return, which is significantly higher than AIPI's 8.78% return.

IWN

• 1D: 0.86%
• 1M: -0.18%
• YTD: 16.90%
• 6M: 16.09%
• 1Y: 39.09%
• 3Y*: 16.65%
• 5Y*: 6.08%
• 10Y*: 10.05%

AIPI

• 1D: 0.95%
• 1M: 5.29%
• YTD: 8.78%
• 6M: 6.56%
• 1Y: 26.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IWN vs. AIPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IWN iShares Russell 2000 Value ETF	16.90%	12.40%	7.47%
AIPI REX AI Equity Premium Income ETF	8.78%	16.38%	15.79%

Correlation

The correlation between IWN and AIPI is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (All Time) Calculated using the full available price history since Jun 4, 2024	0.53

The correlation between IWN and AIPI has been stable across timeframes, ranging from 0.49 to 0.53 - a consistent structural relationship.

IWN vs. AIPI - Sectors Allocation Comparison

Sectors	IWN	AIPI
Financial Services	24.2%	-
Technology	12.4%	90.9%
Industrials	11.1%	-
Real Estate	10.2%	-
Energy	9.2%	-
Healthcare	8.8%	-
Consumer Cyclical	8.7%	3.2%
Utilities	5.7%	-
Basic Materials	5.4%	-
Consumer Defensive	2.0%	-
Communication Services	1.6%	5.9%

Return for Risk

IWN vs. AIPI — Risk / Return Rank

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

IWN

IWN Risk / Return Rank: 78
IWN Sharpe Ratio Rank: 75
IWN Sortino Ratio Rank: 76
IWN Omega Ratio Rank: 69
IWN Calmar Ratio Rank: 88
IWN Martin Ratio Rank: 84

AIPI

AIPI Risk / Return Rank: 47
AIPI Sharpe Ratio Rank: 53
AIPI Sortino Ratio Rank: 48
AIPI Omega Ratio Rank: 53
AIPI Calmar Ratio Rank: 41
AIPI Martin Ratio Rank: 39

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.

IWN vs. AIPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2000 Value ETF (IWN) and REX AI Equity Premium Income ETF (AIPI). 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.

	IWN	AIPI	Difference
Sharpe ratio: Return per unit of total volatility	2.19	1.64	+0.55
Sortino ratio: Return per unit of downside risk	3.07	2.15	+0.92
Omega ratio: Gain probability vs. loss probability	1.37	1.30	+0.07
Calmar ratio: Return relative to maximum drawdown	4.65	1.84	+2.81
Martin ratio: Return relative to average drawdown	15.56	5.69	+9.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IWN vs. AIPI - Sharpe Ratio Comparison

The current IWN Sharpe Ratio is 2.19, which is higher than the AIPI Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of IWN and AIPI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IWN	AIPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.19	1.64	+0.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.98	-0.59

Drawdowns

IWN vs. AIPI - Drawdown Comparison

The maximum IWN drawdown since its inception was -61.55%, which is greater than AIPI's maximum drawdown of -25.25%. Use the drawdown chart below to compare losses from any high point for IWN and AIPI.

Drawdown Indicators

	IWN	AIPI	Difference
Max Drawdown Largest peak-to-trough decline	-61.55%	-25.25%	-36.30%
Max Drawdown (1Y) Largest decline over 1 year	-8.45%	-14.40%	+5.95%
Max Drawdown (3Y) Largest decline over 3 years	-26.70%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.70%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-46.08%	—	—
Current Drawdown Current decline from peak	-1.91%	-2.52%	+0.61%
Average Drawdown Average peak-to-trough decline	-10.15%	-4.65%	-5.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.52%	4.64%	-2.12%

Volatility

IWN vs. AIPI - Volatility Comparison

iShares Russell 2000 Value ETF (IWN) has a higher volatility of 5.31% compared to REX AI Equity Premium Income ETF (AIPI) at 4.45%. This indicates that IWN's price experiences larger fluctuations and is considered to be riskier than AIPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWN	AIPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.31%	4.45%	+0.86%
Volatility (6M) Calculated over the trailing 6-month period	12.13%	13.28%	-1.15%
Volatility (1Y) Calculated over the trailing 1-year period	17.99%	16.18%	+1.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.47%	21.44%	+0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.41%	21.44%	+1.97%

IWN vs. AIPI - Expense Ratio Comparison

IWN has a 0.24% expense ratio, which is lower than AIPI's 0.65% expense ratio.

Dividends

IWN vs. AIPI - Dividend Comparison

IWN's dividend yield for the trailing twelve months is around 1.46%, less than AIPI's 35.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIPI REX AI Equity Premium Income ETF	35.42%	37.84%	18.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IWN iShares Russell 2000 Value ETF	1.46%	1.70%	1.80%	2.04%	2.12%	1.48%	1.60%	1.92%	1.99%	1.78%	1.74%	2.15%

Frequently Asked Questions

Can I hold both IWN and AIPI in my portfolio?

IWN and AIPI have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IWN or AIPI?

IWN has higher volatility (5.31%) compared to AIPI (4.45%). In terms of maximum drawdown, IWN dropped -61.55% vs AIPI's -25.25%.

Which ETF is better, IWN or AIPI?

On 1-year performance, IWN leads with 39.09% vs 26.32% for AIPI. On fees, IWN is cheaper at 0.24% per year. On volatility, AIPI has been the lower-risk option at 4.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IWN or AIPI?

Over the 1-year period, IWN has performed better with a 39.09% return vs 26.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IWN or AIPI?

IWN is cheaper with a 0.24% expense ratio, compared with 0.65% for AIPI.

Which ETF pays a higher dividend yield, IWN or AIPI?

AIPI has the higher dividend yield at 35.42%, compared with 1.46% for IWN.

What is the main difference between IWN and AIPI?

IWN is categorized as Small Cap Value Equities, while AIPI is Derivative Income. They also come from different issuers: iShares and REX. Their fees differ too: 0.24% for IWN and 0.65% for AIPI.

Which has better risk-adjusted returns?

IWN currently has the higher Sharpe Ratio (2.19 vs 1.64), 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.