IWN vs. AVUV

Last updated Aug 2, 2026

IWN (iShares Russell 2000 Value ETF) and AVUV (Avantis US Small Cap Value ETF) are both Small Cap Value Equities funds. IWN is passively managed, while AVUV is actively managed. Over the past 5 years, IWN returned 8.77%/yr vs 13.16%/yr for AVUV. Their 0.96 correlation means they have historically moved very closely together. IWN charges 0.24%/yr vs 0.25%/yr for AVUV.

Performance

IWN vs. AVUV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell 2000 Value ETF (IWN) and Avantis US Small Cap Value ETF (AVUV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with IWN having a 22.87% return and AVUV slightly higher at 23.62%.

IWN

• 1D: -0.25%
• 1M: -0.04%
• 6M: 14.84%
• YTD: 22.87%
• 1Y: 43.20%
• 3Y*: 15.76%
• 5Y*: 8.77%
• 10Y*: 10.28%
• ALL TIME*: 9.49%

AVUV

• 1D: 0.03%
• 1M: 1.43%
• 6M: 15.37%
• YTD: 23.62%
• 1Y: 40.65%
• 3Y*: 16.14%
• 5Y*: 13.16%
• 10Y*: —
• ALL TIME*: 16.14%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AVUV Avantis US Small Cap Value ETF	$143.14M	$148.43M	$155.85M
IWN iShares Russell 2000 Value ETF	$142.85M	$119.46M	$143.70M

IWN vs. AVUV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
IWN iShares Russell 2000 Value ETF	22.87%	12.40%	7.63%	14.56%	-14.77%	27.96%	4.66%	6.68%
AVUV Avantis US Small Cap Value ETF	23.62%	7.44%	9.28%	22.82%	-4.91%	42.20%	6.43%	8.54%

Correlation

The correlation between IWN and AVUV is 0.93, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.93
Correlation (3Y) Balances recent behavior with more history.	0.96
Correlation (5Y) Shows whether the relationship held over a longer period.	0.96
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019	0.97

The correlation between IWN and AVUV has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

IWN vs. AVUV - Sectors Allocation Comparison

Sectors	IWN	AVUV
Financial Services	28.1%	27.8%
Industrials	12.1%	13.5%
Real Estate	11.4%	0.7%
Healthcare	10.5%	5.3%
Consumer Cyclical	9.6%	18.5%
Technology	6.8%	7.4%
Energy	6.0%	13.9%
Utilities	5.2%	0.2%
Basic Materials	4.2%	4.8%
Consumer Defensive	3.3%	4.9%
Communication Services	2.2%	2.9%

Return for Risk

IWN vs. AVUV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IWN

IWN Risk / Return Rank: 92
IWN Sharpe Ratio Rank: 92
IWN Sortino Ratio Rank: 92
IWN Omega Ratio Rank: 89
IWN Calmar Ratio Rank: 94
IWN Martin Ratio Rank: 93

AVUV

AVUV Risk / Return Rank: 91
AVUV Sharpe Ratio Rank: 90
AVUV Sortino Ratio Rank: 91
AVUV Omega Ratio Rank: 88
AVUV Calmar Ratio Rank: 94
AVUV Martin Ratio Rank: 91

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IWN vs. AVUV - 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 Value ETF (AVUV). 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	AVUV	Difference
Sharpe ratio: Return per unit of total volatility	2.33	2.24	+0.10
Sortino ratio: Return per unit of downside risk	3.31	3.23	+0.08
Omega ratio: Gain probability vs. loss probability	1.41	1.40	+0.01
Calmar ratio: Return relative to maximum drawdown	4.79	4.74	+0.04
Martin ratio: Return relative to average drawdown	17.22	14.98	+2.24

IWN vs. AVUV - Sharpe Ratio Comparison

The current IWN Sharpe Ratio is 2.33, which is comparable to the AVUV Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of IWN and AVUV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IWN vs. AVUV - Drawdown Comparison

The maximum IWN drawdown since its inception was -61.55%, which is greater than AVUV's maximum drawdown of -49.42%. Use the drawdown chart below to compare losses from any high point for IWN and AVUV.

Drawdown Indicators

	IWN	AVUV	Difference
Max Drawdown Largest peak-to-trough decline	-61.55%	-49.42%	-12.13%
Max Drawdown (1Y) Largest decline over 1 year	-8.45%	-7.95%	-0.50%
Max Drawdown (3Y) Largest decline over 3 years	-26.70%	-28.79%	+2.09%
Max Drawdown (5Y) Largest decline over 5 years	-26.70%	-28.79%	+2.09%
Max Drawdown (10Y) Largest decline over 10 years	-46.08%	—	—
Current Drawdown Current decline from peak	-1.31%	-0.72%	-0.59%
Average Drawdown Average peak-to-trough decline	-10.10%	-7.78%	-2.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.35%	2.52%	-0.17%

Volatility

IWN vs. AVUV - Volatility Comparison

iShares Russell 2000 Value ETF (IWN) has a higher volatility of 3.21% compared to Avantis US Small Cap Value ETF (AVUV) at 2.88%. This indicates that IWN's price experiences larger fluctuations and is considered to be riskier than AVUV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWN	AVUV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.21%	2.88%	+0.33%
Volatility (6M) Calculated over the trailing 6-month period	11.81%	10.51%	+1.30%
Volatility (1Y) Calculated over the trailing 1-year period	17.38%	16.90%	+0.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.22%	22.40%	-1.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.33%	28.02%	-4.69%

IWN vs. AVUV - Expense Ratio Comparison

IWN has a 0.24% expense ratio, which is lower than AVUV'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. AVUV - Dividend Comparison

IWN's dividend yield for the trailing twelve months is around 1.44%, more than AVUV's 1.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVUV Avantis US Small Cap Value ETF	1.25%	1.58%	1.61%	1.65%	1.74%	1.28%	1.21%	0.38%	0.00%	0.00%	0.00%	0.00%
IWN iShares Russell 2000 Value ETF	1.44%	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 AVUV in my portfolio?

With a correlation of 0.93, IWN and AVUV 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.

Which is riskier, IWN or AVUV?

IWN has higher volatility (3.21%) compared to AVUV (2.88%). In terms of maximum drawdown, IWN dropped -61.55% vs AVUV's -49.42%.

Which ETF is better, IWN or AVUV?

On 5-year performance, AVUV leads with 13.16% vs 8.77% for IWN. On fees, IWN is cheaper at 0.24% per year. On volatility, AVUV has been the lower-risk option at 2.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IWN or AVUV?

Over the 5-year period, AVUV has performed better with a 13.16% return vs 8.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IWN or AVUV?

IWN is cheaper with a 0.24% expense ratio, compared with 0.25% for AVUV.

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

IWN has the higher dividend yield at 1.44%, compared with 1.25% for AVUV.

What is the main difference between IWN and AVUV?

They also come from different issuers: iShares and Avantis. Their fees differ too: 0.24% for IWN and 0.25% for AVUV.

Which has better risk-adjusted returns?

IWN currently has the higher Sharpe Ratio (2.33 vs 2.24), 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.