IWN vs. AVSC
IWN (iShares Russell 2000 Value ETF) and AVSC (Avantis US Small Cap Equity ETF) are both Small Cap Value Equities funds - IWN tracks the Russell 2000 Value Index while AVSC tracks the Russell 2000 Index. Both are passively managed. Over the past 3 years, IWN returned 19.19%/yr vs 18.70%/yr for AVSC. With a 0.98 correlation, they move nearly in lockstep. IWN charges 0.24%/yr vs 0.25%/yr for AVSC.
Performance
IWN vs. AVSC - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with IWN having a 20.82% return and AVSC slightly higher at 21.15%.
IWN
- 1D
- -0.20%
- 1M
- 3.32%
- YTD
- 20.82%
- 6M
- 18.59%
- 1Y
- 42.32%
- 3Y*
- 19.19%
- 5Y*
- 7.16%
- 10Y*
- 10.72%
AVSC
- 1D
- -0.16%
- 1M
- 4.37%
- YTD
- 21.15%
- 6M
- 19.08%
- 1Y
- 42.10%
- 3Y*
- 18.70%
- 5Y*
- —
- 10Y*
- —
IWN vs. AVSC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IWN iShares Russell 2000 Value ETF | 20.82% | 12.40% | 7.63% | 14.56% | -14.70% |
AVSC Avantis US Small Cap Equity ETF | 21.15% | 9.42% | 7.75% | 19.68% | -12.40% |
Correlation
The correlation between IWN and AVSC is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Jan 13, 2022 | 0.98 |
The correlation between IWN and AVSC has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.
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Return for Risk
IWN vs. AVSC — Risk / Return Rank
IWN
AVSC
IWN vs. AVSC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2000 Value ETF (IWN) and Avantis US Small Cap Equity ETF (AVSC). 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.
| IWN | AVSC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.39 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 5.03 | 5.36 | -0.33 |
| Martin ratioReturn relative to average drawdown | 16.92 | 16.79 | +0.13 |
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Drawdowns
IWN vs. AVSC - Drawdown Comparison
The maximum IWN drawdown since its inception was -61.55%, which is greater than AVSC's maximum drawdown of -28.40%. Use the drawdown chart below to compare losses from any high point for IWN and AVSC.
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Drawdown Indicators
| IWN | AVSC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.55% | -28.40% | -33.15% |
Max Drawdown (1Y)Largest decline over 1 year | -8.45% | -7.89% | -0.56% |
Max Drawdown (3Y)Largest decline over 3 years | -26.70% | -28.40% | +1.70% |
Max Drawdown (5Y)Largest decline over 5 years | -26.70% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -46.08% | — | — |
Current DrawdownCurrent decline from peak | -0.20% | -0.53% | +0.33% |
Average DrawdownAverage peak-to-trough decline | -10.14% | -7.35% | -2.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.51% | 2.51% | 0.00% |
Volatility
IWN vs. AVSC - Volatility Comparison
iShares Russell 2000 Value ETF (IWN) has a higher volatility of 5.29% compared to Avantis US Small Cap Equity ETF (AVSC) at 4.70%. This indicates that IWN's price experiences larger fluctuations and is considered to be riskier than AVSC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWN | AVSC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.29% | 4.70% | +0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 12.29% | 11.99% | +0.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.04% | 18.18% | -0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.41% | 22.28% | -0.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.39% | 22.28% | +1.11% |
IWN vs. AVSC - Expense Ratio Comparison
IWN has a 0.24% expense ratio, which is lower than AVSC's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IWN vs. AVSC - Dividend Comparison
IWN's dividend yield for the trailing twelve months is around 1.46%, more than AVSC's 1.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AVSC Avantis US Small Cap Equity ETF | 1.20% | 1.16% | 1.17% | 1.42% | 1.10% | 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
With a correlation of 0.97, IWN and AVSC 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.
IWN has higher volatility (5.29%) compared to AVSC (4.70%). In terms of maximum drawdown, IWN dropped -61.55% vs AVSC's -28.40%.
On 3-year performance, IWN leads with 19.19% vs 18.70% for AVSC. On fees, IWN is cheaper at 0.24% per year. On volatility, AVSC has been the lower-risk option at 4.70%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IWN has performed better with a 19.19% return vs 18.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IWN is cheaper with a 0.24% expense ratio, compared with 0.25% for AVSC.
IWN has the higher dividend yield at 1.46%, compared with 1.20% for AVSC.
IWN tracks Russell 2000 Value Index, while AVSC tracks Russell 2000 Index. They also come from different issuers: iShares and Avantis. Their fees differ too: 0.24% for IWN and 0.25% for AVSC.
IWN currently has the higher Sharpe Ratio (2.36 vs 2.33), 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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