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IWN vs. IEI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IWN vs. IEI

Last updated Jun 4, 2026

IWN (iShares Russell 2000 Value ETF) and IEI (iShares 3-7 Year Treasury Bond ETF) are both exchange-traded funds - IWN is a Small Cap Value Equities fund tracking the Russell 2000 Value Index, while IEI is a Government Bonds fund tracking the ICE U.S. Treasury 3-7 Year Bond Index. Both are passively managed. Over the past 10 years, IWN returned 10.16%/yr vs 1.28%/yr for IEI. At a correlation of -0.25, they often move in opposite directions. IWN charges 0.24%/yr vs 0.15%/yr for IEI.

Performance

IWN vs. IEI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell 2000 Value ETF (IWN) and iShares 3-7 Year Treasury Bond ETF (IEI). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IWN achieves a 17.42% return, which is significantly higher than IEI's -0.42% return. Over the past 10 years, IWN has outperformed IEI with an annualized return of 10.16%, while IEI has yielded a comparatively lower 1.28% annualized return.

IWN

1D
-1.31%
1M
2.73%
YTD
17.42%
6M
16.54%
1Y
41.15%
3Y*
17.66%
5Y*
6.48%
10Y*
10.16%

IEI

1D
-0.13%
1M
-0.17%
YTD
-0.42%
6M
-0.49%
1Y
3.28%
3Y*
3.52%
5Y*
0.23%
10Y*
1.28%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IWN vs. IEI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IWN
iShares Russell 2000 Value ETF		17.42%12.40%7.63%14.56%-14.77%27.96%4.66%22.01%-13.01%7.69%
IEI
iShares 3-7 Year Treasury Bond ETF		-0.42%6.96%1.81%4.42%-9.51%-2.54%6.95%5.71%1.36%1.22%

Correlation

The correlation between IWN and IEI is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.20

Correlation (3Y)
Calculated over the trailing 3-year period

0.17

Correlation (5Y)
Calculated over the trailing 5-year period

0.09

Correlation (10Y)
Calculated over the trailing 10-year period

-0.10

Correlation (All Time)
Calculated using the full available price history since Jan 12, 2007

-0.25

The correlation between IWN and IEI shifts across timeframes, from -0.25 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Russell 2000 Value ETF

iShares 3-7 Year Treasury Bond ETF

Often compared with IWN:
IWN vs. IWMIWN vs. IWOIWN vs. VTWOIWN vs. IJSIWN vs. IWSIWN vs. IWVIWN vs. IWX
Often compared with IEI:
IEI vs. IEFIEI vs. VGITIEI vs. TLTIEI vs. BNDIEI vs. TIPIEI vs. TLHIEI vs. IMTB

Return for Risk

IWN vs. IEI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IWN
IWN Risk / Return Rank: 7474
Overall Rank
IWN Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
IWN Sortino Ratio Rank: 7171
Sortino Ratio Rank
IWN Omega Ratio Rank: 6464
Omega Ratio Rank
IWN Calmar Ratio Rank: 8686
Calmar Ratio Rank
IWN Martin Ratio Rank: 8181
Martin Ratio Rank
IEI
IEI Risk / Return Rank: 2828
Overall Rank
IEI Sharpe Ratio Rank: 2929
Sharpe Ratio Rank
IEI Sortino Ratio Rank: 3030
Sortino Ratio Rank
IEI Omega Ratio Rank: 2727
Omega Ratio Rank
IEI Calmar Ratio Rank: 2727
Calmar Ratio Rank
IEI Martin Ratio Rank: 2727
Martin Ratio Rank
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. IEI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2000 Value ETF (IWN) and iShares 3-7 Year Treasury Bond ETF (IEI). 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.

IWNIEIDifference
Sharpe ratioReturn per unit of total volatility
2.33
1.09

+1.24

Sortino ratioReturn per unit of downside risk
3.28
1.65

+1.63

Omega ratioGain probability vs. loss probability

1.40

1.19

+0.21

Calmar ratioReturn relative to maximum drawdown

4.89

1.32

+3.57

Martin ratioReturn relative to average drawdown

16.44

3.96

+12.48

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. IEI - Sharpe Ratio Comparison

The current IWN Sharpe Ratio is 2.33, which is higher than the IEI Sharpe Ratio of 1.09. The chart below compares the historical Sharpe Ratios of IWN and IEI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

IWNIEIDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.33

1.09

+1.24

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.30

0.05

+0.25

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.44

0.33

+0.11

Sharpe Ratio (All Time)

Calculated using the full available price history

0.39

0.70

-0.31

Drawdowns

IWN vs. IEI - Drawdown Comparison

The maximum IWN drawdown since its inception was -61.55%, which is greater than IEI's maximum drawdown of -14.60%. Use the drawdown chart below to compare losses from any high point for IWN and IEI.

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Drawdown Indicators

IWNIEIDifference

Max Drawdown

Largest peak-to-trough decline

-61.55%

-14.60%

-46.95%

Max Drawdown (1Y)

Largest decline over 1 year

-8.45%

-2.50%

-5.95%

Max Drawdown (3Y)

Largest decline over 3 years

-26.70%

-3.66%

-23.04%

Max Drawdown (5Y)

Largest decline over 5 years

-26.70%

-13.88%

-12.82%

Max Drawdown (10Y)

Largest decline over 10 years

-46.08%

-14.60%

-31.48%

Current Drawdown

Current decline from peak

-1.47%

-1.85%

+0.38%

Average Drawdown

Average peak-to-trough decline

-10.16%

-2.67%

-7.49%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.51%

0.83%

+1.68%

Volatility

IWN vs. IEI - Volatility Comparison

iShares Russell 2000 Value ETF (IWN) has a higher volatility of 4.91% compared to iShares 3-7 Year Treasury Bond ETF (IEI) at 0.91%. This indicates that IWN's price experiences larger fluctuations and is considered to be riskier than IEI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IWNIEIDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.91%

0.91%

+4.00%

Volatility (6M)

Calculated over the trailing 6-month period

11.86%

2.13%

+9.73%

Volatility (1Y)

Calculated over the trailing 1-year period

17.81%

3.04%

+14.77%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.43%

4.77%

+16.66%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.39%

3.93%

+19.46%

IWN vs. IEI - Expense Ratio Comparison

IWN has a 0.24% expense ratio, which is higher than IEI's 0.15% expense ratio. However, 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. IEI - Dividend Comparison

IWN's dividend yield for the trailing twelve months is around 1.46%, less than IEI's 3.64% yield.

PositionTTM20252024202320222021202020192018201720162015
IEI
iShares 3-7 Year Treasury Bond ETF		3.64%3.48%3.18%2.36%1.37%0.73%1.12%2.01%1.95%1.51%1.33%1.39%
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

IWN and IEI have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IWN has higher volatility (4.91%) compared to IEI (0.91%). In terms of maximum drawdown, IWN dropped -61.55% vs IEI's -14.60%.

On 10-year performance, IWN leads with 10.16% vs 1.28% for IEI. On fees, IEI is cheaper at 0.15% per year. On volatility, IEI has been the lower-risk option at 0.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IWN has performed better with a 10.16% return vs 1.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IEI is cheaper with a 0.15% expense ratio, compared with 0.24% for IWN.

IEI has the higher dividend yield at 3.64%, compared with 1.46% for IWN.

IWN is categorized as Small Cap Value Equities, while IEI is Government Bonds. IWN tracks Russell 2000 Value Index, while IEI tracks ICE U.S. Treasury 3-7 Year Bond Index. Their fees differ too: 0.24% for IWN and 0.15% for IEI.

IWN currently has the higher Sharpe Ratio (2.33 vs 1.09), 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.

Portfolio Optimizer

Find the right allocation for IWN and IEI

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