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IWN vs. QQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IWN vs. QQQ

Last updated Jun 14, 2026

IWN (iShares Russell 2000 Value ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - IWN is a Small Cap Value Equities fund tracking the Russell 2000 Value Index, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, IWN returned 10.58%/yr vs 21.79%/yr for QQQ. A 0.70 correlation means they provide meaningful diversification when combined. IWN charges 0.24%/yr vs 0.18%/yr for QQQ.

Performance

IWN vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell 2000 Value ETF (IWN) and Invesco QQQ ETF (QQQ). 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 20.82% return, which is significantly higher than QQQ's 17.57% return. Over the past 10 years, IWN has underperformed QQQ with an annualized return of 10.58%, while QQQ has yielded a comparatively higher 21.79% annualized return.

IWN

1D
1.17%
1M
3.98%
YTD
20.82%
6M
17.48%
1Y
44.79%
3Y*
17.41%
5Y*
6.89%
10Y*
10.58%

QQQ

1D
0.59%
1M
0.22%
YTD
17.57%
6M
17.85%
1Y
37.55%
3Y*
26.43%
5Y*
16.85%
10Y*
21.79%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IWN vs. QQQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
QQQ
Invesco QQQ ETF		17.57%20.77%25.58%54.86%-32.58%27.42%48.62%38.96%-0.13%32.66%

Correlation

The correlation between IWN and QQQ is 0.59, 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

0.59

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

0.56

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

0.64

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

0.58

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

0.70

The correlation between IWN and QQQ shifts across timeframes, from 0.56 (3 years) to 0.70 (all time), reflecting how their relationship changes across market environments.

IWN vs. QQQ - Sectors Allocation Comparison

Sectors
IWN
QQQ

Financial Services

23.9%
0.2%

Industrials

12.1%
2.6%

Technology

11.6%
58.7%

Real Estate

10.2%
0.1%

Healthcare

10.1%
3.7%

Consumer Cyclical

8.9%
11.4%

Energy

7.9%
0.5%

Basic Materials

5.4%
1.0%

Utilities

5.1%
1.2%

Communication Services

2.7%
14.3%

Consumer Defensive

2.1%
6.4%

Financial Services

IWN
23.9%
QQQ
0.2%

Industrials

IWN
12.1%
QQQ
2.6%

Technology

IWN
11.6%
QQQ
58.7%

Real Estate

IWN
10.2%
QQQ
0.1%

Healthcare

IWN
10.1%
QQQ
3.7%

Consumer Cyclical

IWN
8.9%
QQQ
11.4%

Energy

IWN
7.9%
QQQ
0.5%

Basic Materials

IWN
5.4%
QQQ
1.0%

Utilities

IWN
5.1%
QQQ
1.2%

Communication Services

IWN
2.7%
QQQ
14.3%

Consumer Defensive

IWN
2.1%
QQQ
6.4%

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

Invesco QQQ ETF

Often compared with IWN:
IWN vs. IWMIWN vs. IWOIWN vs. VTWOIWN vs. IJSIWN vs. IWSIWN vs. IWVIWN vs. IWX
Often compared with QQQ:
QQQ vs. SPYQQQ vs. VOOQQQ vs. VGTQQQ vs. TQQQQQQ vs. SMHQQQ vs. QQQMQQQ vs. QQQI

Return for Risk

IWN vs. QQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IWN
IWN Risk / Return Rank: 8585
Overall Rank
IWN Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
IWN Sortino Ratio Rank: 8484
Sortino Ratio Rank
IWN Omega Ratio Rank: 7878
Omega Ratio Rank
IWN Calmar Ratio Rank: 9191
Calmar Ratio Rank
IWN Martin Ratio Rank: 8888
Martin Ratio Rank
QQQ
QQQ Risk / Return Rank: 7171
Overall Rank
QQQ Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 7070
Sortino Ratio Rank
QQQ Omega Ratio Rank: 7373
Omega Ratio Rank
QQQ Calmar Ratio Rank: 6969
Calmar Ratio Rank
QQQ Martin Ratio Rank: 7070
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. QQQ - Risk-Adjusted Trends Comparison

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

IWNQQQDifference
Sharpe ratioReturn per unit of total volatility
2.35
2.09

+0.25

Sortino ratioReturn per unit of downside risk
3.27
2.73

+0.54

Omega ratioGain probability vs. loss probability

1.40

1.37

+0.03

Calmar ratioReturn relative to maximum drawdown

5.02

3.01

+2.02

Martin ratioReturn relative to average drawdown

16.91

11.22

+5.69

IWN vs. QQQ - Sharpe Ratio Comparison

The current IWN Sharpe Ratio is 2.35, which is comparable to the QQQ Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of IWN and QQQ, 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. QQQ - Drawdown Comparison

The maximum IWN drawdown since its inception was -61.55%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for IWN and QQQ.

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Drawdown Indicators

IWNQQQDifference

Max Drawdown

Largest peak-to-trough decline

-61.55%

-82.97%

+21.42%

Max Drawdown (1Y)

Largest decline over 1 year

-8.45%

-11.96%

+3.51%

Max Drawdown (3Y)

Largest decline over 3 years

-26.70%

-22.77%

-3.93%

Max Drawdown (5Y)

Largest decline over 5 years

-26.70%

-35.12%

+8.42%

Max Drawdown (10Y)

Largest decline over 10 years

-46.08%

-35.12%

-10.96%

Current Drawdown

Current decline from peak

0.00%

-3.33%

+3.33%

Average Drawdown

Average peak-to-trough decline

-10.15%

-32.75%

+22.60%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.51%

3.20%

-0.69%

Volatility

IWN vs. QQQ - Volatility Comparison

The current volatility for iShares Russell 2000 Value ETF (IWN) is 5.80%, while Invesco QQQ ETF (QQQ) has a volatility of 7.56%. This indicates that IWN experiences smaller price fluctuations and is considered to be less risky than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IWNQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.80%

7.56%

-1.76%

Volatility (6M)

Calculated over the trailing 6-month period

12.25%

13.81%

-1.56%

Volatility (1Y)

Calculated over the trailing 1-year period

18.09%

17.19%

+0.90%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.47%

22.55%

-1.08%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.41%

22.38%

+1.03%

IWN vs. QQQ - Expense Ratio Comparison

IWN has a 0.24% expense ratio, which is higher than QQQ's 0.18% 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. QQQ - Dividend Comparison

IWN's dividend yield for the trailing twelve months is around 1.42%, more than QQQ's 0.39% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
QQQ
Invesco QQQ ETF		0.39%0.45%0.56%0.62%0.80%0.43%0.55%0.74%0.91%0.84%1.06%0.99%

Frequently Asked Questions

IWN and QQQ have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

QQQ has higher volatility (7.56%) compared to IWN (5.80%). In terms of maximum drawdown, IWN dropped -61.55% vs QQQ's -82.97%.

On 10-year performance, QQQ leads with 21.79% vs 10.58% for IWN. On fees, QQQ is cheaper at 0.18% per year. On volatility, IWN has been the lower-risk option at 5.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, QQQ has performed better with a 21.79% return vs 10.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QQQ is cheaper with a 0.18% expense ratio, compared with 0.24% for IWN.

IWN has the higher dividend yield at 1.42%, compared with 0.39% for QQQ.

IWN is categorized as Small Cap Value Equities, while QQQ is Nasdaq-100. IWN tracks Russell 2000 Value Index, while QQQ tracks NASDAQ-100 Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.24% for IWN and 0.18% for QQQ.

IWN currently has the higher Sharpe Ratio (2.35 vs 2.09), 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.

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