IWN vs. CVS
IWN (iShares Russell 2000 Value ETF) is Small Cap Value Equities fund tracking the Russell 2000 Value Index, while CVS (CVS Health Corporation) is a stock. Over the past 10 years, IWN returned 10.58%/yr vs 3.70%/yr for CVS. At a 0.43 correlation, their price movements are largely independent.
Performance
IWN vs. CVS - Performance Comparison
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Returns By Period
In the year-to-date period, IWN achieves a 20.82% return, which is significantly lower than CVS's 30.67% return. Over the past 10 years, IWN has outperformed CVS with an annualized return of 10.58%, while CVS has yielded a comparatively lower 3.70% annualized return.
IWN
- 1D
- 1.17%
- 1M
- 4.34%
- YTD
- 20.82%
- 6M
- 17.48%
- 1Y
- 42.26%
- 3Y*
- 17.41%
- 5Y*
- 6.89%
- 10Y*
- 10.58%
CVS
- 1D
- 1.47%
- 1M
- 3.92%
- YTD
- 30.67%
- 6M
- 30.57%
- 1Y
- 59.29%
- 3Y*
- 16.60%
- 5Y*
- 7.08%
- 10Y*
- 3.70%
IWN vs. CVS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IWN iShares Russell 2000 Value ETF | 20.82% | 12.40% | 7.63% | 14.56% | -14.77% | 27.96% | 4.66% | 22.01% | -13.01% | 7.69% |
CVS CVS Health Corporation | 30.67% | 84.35% | -40.77% | -12.53% | -7.63% | 54.87% | -5.14% | 17.26% | -7.04% | -5.75% |
Correlation
The correlation between IWN and CVS is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Jul 28, 2000 | 0.43 |
Over the past year, the correlation between IWN and CVS has dropped to 0.16 - well below their long-term average of 0.43, suggesting their price drivers have been diverging.
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Return for Risk
IWN vs. CVS — Risk / Return Rank
IWN
CVS
IWN vs. CVS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2000 Value ETF (IWN) and CVS Health Corporation (CVS). 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 | CVS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.43 | ||
| Sortino ratioReturn per unit of downside risk | +0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.35 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 5.02 | 3.62 | +1.40 |
| Martin ratioReturn relative to average drawdown | 16.91 | 9.33 | +7.58 |
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Drawdowns
IWN vs. CVS - Drawdown Comparison
The maximum IWN drawdown since its inception was -61.55%, roughly equal to the maximum CVS drawdown of -64.07%. Use the drawdown chart below to compare losses from any high point for IWN and CVS.
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Drawdown Indicators
| IWN | CVS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.55% | -64.07% | +2.52% |
Max Drawdown (1Y)Largest decline over 1 year | -8.45% | -16.44% | +7.99% |
Max Drawdown (3Y)Largest decline over 3 years | -26.70% | -43.98% | +17.28% |
Max Drawdown (5Y)Largest decline over 5 years | -26.70% | -56.79% | +30.09% |
Max Drawdown (10Y)Largest decline over 10 years | -46.08% | -56.79% | +10.71% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -10.15% | -19.54% | +9.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.51% | 6.38% | -3.87% |
Volatility
IWN vs. CVS - Volatility Comparison
The current volatility for iShares Russell 2000 Value ETF (IWN) is 5.80%, while CVS Health Corporation (CVS) has a volatility of 7.50%. This indicates that IWN experiences smaller price fluctuations and is considered to be less risky than CVS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWN | CVS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.80% | 7.50% | -1.70% |
Volatility (6M)Calculated over the trailing 6-month period | 12.25% | 25.88% | -13.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.09% | 31.05% | -12.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.47% | 29.98% | -8.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.41% | 29.30% | -5.89% |
Dividends
IWN vs. CVS - Dividend Comparison
IWN's dividend yield for the trailing twelve months is around 1.42%, less than CVS's 2.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CVS CVS Health Corporation | 2.61% | 3.35% | 5.93% | 3.06% | 2.36% | 1.94% | 2.93% | 2.69% | 3.05% | 2.76% | 2.15% | 1.43% |
IWN iShares Russell 2000 Value ETF | 1.42% | 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
IWN and CVS have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CVS has higher volatility (7.50%) compared to IWN (5.80%). In terms of maximum drawdown, IWN dropped -61.55% vs CVS's -64.07%.
IWN currently has the higher Sharpe Ratio (2.35 vs 1.92), 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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