IWN vs. QQQY
IWN (iShares Russell 2000 Value ETF) and QQQY (Defiance Nasdaq 100 Enhanced Options Income ETF) are both exchange-traded funds - IWN is a Small Cap Value Equities fund tracking the Russell 2000 Value Index, while QQQY is a Nasdaq-100 fund actively managed by Defiance. IWN is passively managed, while QQQY is actively managed. Over the past year, IWN returned 39.09% vs 30.60% for QQQY. A 0.54 correlation means they provide meaningful diversification when combined. IWN charges 0.24%/yr vs 0.99%/yr for QQQY.
Performance
IWN vs. QQQY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IWN achieves a 16.90% return, which is significantly higher than QQQY's 14.65% return.
IWN
- 1D
- 0.86%
- 1M
- -0.18%
- YTD
- 16.90%
- 6M
- 16.09%
- 1Y
- 39.09%
- 3Y*
- 16.65%
- 5Y*
- 6.08%
- 10Y*
- 10.05%
QQQY
- 1D
- 1.28%
- 1M
- -0.02%
- YTD
- 14.65%
- 6M
- 14.20%
- 1Y
- 30.60%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IWN vs. QQQY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IWN iShares Russell 2000 Value ETF | 16.90% | 12.40% | 7.63% | 12.38% |
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF | 14.65% | 14.96% | 7.70% | 7.19% |
Correlation
The correlation between IWN and QQQY is 0.57, 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 | 0.57 |
Correlation (All Time) Calculated using the full available price history since Sep 14, 2023 | 0.54 |
The correlation between IWN and QQQY has been stable across timeframes, ranging from 0.54 to 0.57 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IWN vs. QQQY — Risk / Return Rank
IWN
QQQY
IWN vs. QQQY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2000 Value ETF (IWN) and Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY). 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.
| IWN | QQQY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.40 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 4.65 | 2.76 | +1.89 |
| Martin ratioReturn relative to average drawdown | 15.56 | 11.59 | +3.97 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| IWN | QQQY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.19 | 2.12 | +0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.28 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.43 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 1.11 | -0.73 |
Drawdowns
IWN vs. QQQY - Drawdown Comparison
The maximum IWN drawdown since its inception was -61.55%, which is greater than QQQY's maximum drawdown of -19.05%. Use the drawdown chart below to compare losses from any high point for IWN and QQQY.
Loading charts...
Drawdown Indicators
| IWN | QQQY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.55% | -19.05% | -42.50% |
Max Drawdown (1Y)Largest decline over 1 year | -8.45% | -11.14% | +2.69% |
Max Drawdown (3Y)Largest decline over 3 years | -26.70% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -26.70% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -46.08% | — | — |
Current DrawdownCurrent decline from peak | -1.91% | -4.06% | +2.15% |
Average DrawdownAverage peak-to-trough decline | -10.15% | -2.91% | -7.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.52% | 2.65% | -0.13% |
Volatility
IWN vs. QQQY - Volatility Comparison
The current volatility for iShares Russell 2000 Value ETF (IWN) is 5.31%, while Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) has a volatility of 6.53%. This indicates that IWN experiences smaller price fluctuations and is considered to be less risky than QQQY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IWN | QQQY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.31% | 6.53% | -1.22% |
Volatility (6M)Calculated over the trailing 6-month period | 12.13% | 12.41% | -0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.99% | 14.55% | +3.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.47% | 15.03% | +6.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.41% | 15.03% | +8.38% |
IWN vs. QQQY - Expense Ratio Comparison
IWN has a 0.24% expense ratio, which is lower than QQQY's 0.99% expense ratio.
Dividends
IWN vs. QQQY - Dividend Comparison
IWN's dividend yield for the trailing twelve months is around 1.46%, less than QQQY's 35.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF | 35.66% | 45.34% | 83.34% | 20.64% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IWN and QQQY have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QQQY has higher volatility (6.53%) compared to IWN (5.31%). In terms of maximum drawdown, IWN dropped -61.55% vs QQQY's -19.05%.
On 1-year performance, IWN leads with 39.09% vs 30.60% for QQQY. On fees, IWN is cheaper at 0.24% per year. On volatility, IWN has been the lower-risk option at 5.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IWN has performed better with a 39.09% return vs 30.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IWN is cheaper with a 0.24% expense ratio, compared with 0.99% for QQQY.
QQQY has the higher dividend yield at 35.66%, compared with 1.46% for IWN.
IWN is categorized as Small Cap Value Equities, while QQQY is Nasdaq-100. They also come from different issuers: iShares and Defiance. Their fees differ too: 0.24% for IWN and 0.99% for QQQY.
IWN currently has the higher Sharpe Ratio (2.19 vs 2.12), 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.
Find the right allocation for IWN and QQQY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer