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IWN vs. IWV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IWN vs. IWV

Last updated Jun 23, 2026

IWN (iShares Russell 2000 Value ETF) and IWV (iShares Russell 3000 ETF) are both exchange-traded funds - IWN is a Small Cap Value Equities fund tracking the Russell 2000 Value Index, while IWV is a Large Cap Blend Equities fund tracking the Russell 3000 Index. Both are passively managed. Over the past 10 years, IWN returned 10.74%/yr vs 15.13%/yr for IWV. Their correlation of 0.85 suggests significant overlap in exposure. IWN charges 0.24%/yr vs 0.20%/yr for IWV.

Performance

IWN vs. IWV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell 2000 Value ETF (IWN) and iShares Russell 3000 ETF (IWV). 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 21.06% return, which is significantly higher than IWV's 10.01% return. Over the past 10 years, IWN has underperformed IWV with an annualized return of 10.74%, while IWV has yielded a comparatively higher 15.13% annualized return.

IWN

1D
0.52%
1M
3.53%
YTD
21.06%
6M
18.12%
1Y
44.70%
3Y*
19.27%
5Y*
7.50%
10Y*
10.74%

IWV

1D
-0.27%
1M
0.53%
YTD
10.01%
6M
9.26%
1Y
26.55%
3Y*
20.91%
5Y*
12.24%
10Y*
15.13%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IWN vs. IWV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IWN
iShares Russell 2000 Value ETF		21.06%12.40%7.63%14.56%-14.77%27.96%4.66%22.01%-13.01%7.69%
IWV
iShares Russell 3000 ETF		10.01%16.96%23.49%25.82%-19.28%25.54%20.55%30.66%-5.43%20.97%

Correlation

The correlation between IWN and IWV is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.76

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

0.76

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

0.81

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

0.80

Correlation (All Time)
Calculated using the full available price history since Jul 28, 2000

0.85

The correlation between IWN and IWV has been stable across timeframes, ranging from 0.76 to 0.85 - a consistent structural relationship.

IWN vs. IWV - Sectors Allocation Comparison

Sectors
IWN
IWV

Financial Services

23.9%
11.5%

Industrials

12.1%
9.1%

Technology

11.6%
36.5%

Real Estate

10.2%
2.3%

Healthcare

10.1%
8.9%

Consumer Cyclical

8.9%
9.9%

Energy

7.9%
3.3%

Basic Materials

5.4%
2.0%

Utilities

5.1%
2.1%

Communication Services

2.7%
10.0%

Consumer Defensive

2.1%
4.3%

Financial Services

IWN
23.9%
IWV
11.5%

Industrials

IWN
12.1%
IWV
9.1%

Technology

IWN
11.6%
IWV
36.5%

Real Estate

IWN
10.2%
IWV
2.3%

Healthcare

IWN
10.1%
IWV
8.9%

Consumer Cyclical

IWN
8.9%
IWV
9.9%

Energy

IWN
7.9%
IWV
3.3%

Basic Materials

IWN
5.4%
IWV
2.0%

Utilities

IWN
5.1%
IWV
2.1%

Communication Services

IWN
2.7%
IWV
10.0%

Consumer Defensive

IWN
2.1%
IWV
4.3%

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 Russell 3000 ETF

Often compared with IWN:
IWN vs. IWMIWN vs. IWOIWN vs. VTWOIWN vs. IJSIWN vs. IWSIWN vs. IWXIWN vs. IWR
Often compared with IWV:
IWV vs. SPYIWV vs. VTIIWV vs. IWMIWV vs. ACWXIWV vs. VTHRIWV vs. IVVIWV vs. RSP

Return for Risk

IWN vs. IWV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IWN
IWN Risk / Return Rank: 8383
Overall Rank
IWN Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
IWN Sortino Ratio Rank: 8181
Sortino Ratio Rank
IWN Omega Ratio Rank: 7474
Omega Ratio Rank
IWN Calmar Ratio Rank: 9090
Calmar Ratio Rank
IWN Martin Ratio Rank: 8787
Martin Ratio Rank
IWV
IWV Risk / Return Rank: 6767
Overall Rank
IWV Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
IWV Sortino Ratio Rank: 6464
Sortino Ratio Rank
IWV Omega Ratio Rank: 6666
Omega Ratio Rank
IWV Calmar Ratio Rank: 6262
Calmar Ratio Rank
IWV Martin Ratio Rank: 7373
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. IWV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2000 Value ETF (IWN) and iShares Russell 3000 ETF (IWV). 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.

IWNIWVDifference
Sharpe ratioReturn per unit of total volatility
2.49
2.11

+0.38

Sortino ratioReturn per unit of downside risk
3.45
2.87

+0.58

Omega ratioGain probability vs. loss probability

1.42

1.38

+0.04

Calmar ratioReturn relative to maximum drawdown

5.31

3.00

+2.31

Martin ratioReturn relative to average drawdown

17.88

13.42

+4.46

IWN vs. IWV - Sharpe Ratio Comparison

The current IWN Sharpe Ratio is 2.49, which is comparable to the IWV Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of IWN and IWV, 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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Drawdowns

IWN vs. IWV - Drawdown Comparison

The maximum IWN drawdown since its inception was -61.55%, which is greater than IWV's maximum drawdown of -55.61%. Use the drawdown chart below to compare losses from any high point for IWN and IWV.

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Drawdown Indicators

IWNIWVDifference

Max Drawdown

Largest peak-to-trough decline

-61.55%

-55.61%

-5.94%

Max Drawdown (1Y)

Largest decline over 1 year

-8.45%

-8.89%

+0.44%

Max Drawdown (3Y)

Largest decline over 3 years

-26.70%

-19.28%

-7.42%

Max Drawdown (5Y)

Largest decline over 5 years

-26.70%

-25.11%

-1.59%

Max Drawdown (10Y)

Largest decline over 10 years

-46.08%

-35.22%

-10.86%

Current Drawdown

Current decline from peak

0.00%

-1.46%

+1.46%

Average Drawdown

Average peak-to-trough decline

-10.14%

-10.57%

+0.43%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.51%

1.98%

+0.53%

Volatility

IWN vs. IWV - Volatility Comparison

iShares Russell 2000 Value ETF (IWN) has a higher volatility of 5.29% compared to iShares Russell 3000 ETF (IWV) at 4.65%. This indicates that IWN's price experiences larger fluctuations and is considered to be riskier than IWV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IWNIWVDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.29%

4.65%

+0.64%

Volatility (6M)

Calculated over the trailing 6-month period

12.29%

9.89%

+2.40%

Volatility (1Y)

Calculated over the trailing 1-year period

18.08%

12.67%

+5.41%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.41%

17.32%

+4.09%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.42%

18.45%

+4.97%

IWN vs. IWV - Expense Ratio Comparison

IWN has a 0.24% expense ratio, which is higher than IWV's 0.20% 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. IWV - Dividend Comparison

IWN's dividend yield for the trailing twelve months is around 1.46%, more than IWV's 0.88% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
IWV
iShares Russell 3000 ETF		0.88%0.96%1.08%1.30%1.56%1.04%1.30%1.69%1.97%1.58%1.79%1.99%

Frequently Asked Questions

IWN and IWV have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IWN has higher volatility (5.29%) compared to IWV (4.65%). In terms of maximum drawdown, IWN dropped -61.55% vs IWV's -55.61%.

On 10-year performance, IWV leads with 15.13% vs 10.74% for IWN. On fees, IWV is cheaper at 0.20% per year. On volatility, IWV has been the lower-risk option at 4.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IWV has performed better with a 15.13% return vs 10.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IWV is cheaper with a 0.20% expense ratio, compared with 0.24% for IWN.

IWN has the higher dividend yield at 1.46%, compared with 0.88% for IWV.

IWN is categorized as Small Cap Value Equities, while IWV is Large Cap Blend Equities. IWN tracks Russell 2000 Value Index, while IWV tracks Russell 3000 Index. Their fees differ too: 0.24% for IWN and 0.20% for IWV.

IWN currently has the higher Sharpe Ratio (2.49 vs 2.11), 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

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