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IWN vs. SVAL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IWN vs. SVAL

Last updated Aug 2, 2026
Documentation

IWN (iShares Russell 2000 Value ETF) and SVAL (iShares US Small Cap Value Factor ETF) are both Small Cap Value Equities funds from iShares - IWN tracks the Russell 2000 Value Index while SVAL tracks the Russell 2000 Focused Value Select Index. Both are passively managed. Over the past 5 years, IWN returned 8.77%/yr vs 9.86%/yr for SVAL. Their correlation of 0.95 means they have usually moved in the same direction. IWN charges 0.24%/yr vs 0.20%/yr for SVAL.

Performance

IWN vs. SVAL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell 2000 Value ETF (IWN) and iShares US Small Cap Value Factor ETF (SVAL). 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 22.87% return, which is significantly lower than SVAL's 25.30% return.

IWN

1D
-0.25%
1M
-0.04%
6M
14.84%
YTD
22.87%
1Y
43.20%
3Y*
15.76%
5Y*
8.77%
10Y*
10.28%
ALL TIME*
9.49%

SVAL

1D
0.26%
1M
2.62%
6M
17.08%
YTD
25.30%
1Y
43.73%
3Y*
16.07%
5Y*
9.86%
10Y*
—
ALL TIME*
17.62%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

IWN

iShares Russell 2000 Value ETF
$142.85M$119.46M$143.70M

SVAL

iShares US Small Cap Value Factor ETF
$620.93K$633.76K$608.86K

IWN vs. SVAL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
IWN
iShares Russell 2000 Value ETF		22.87%12.40%7.63%14.56%-14.77%27.96%29.64%
SVAL
iShares US Small Cap Value Factor ETF		25.30%8.23%7.54%12.27%-10.15%33.18%29.82%

Correlation

The correlation between IWN and SVAL is 0.91, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.91

Correlation (3Y)
Balances recent behavior with more history.

0.94

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.95

Correlation (All Time)
Calculated using the full available price history since Oct 29, 2020

0.95

The correlation between IWN and SVAL has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.

IWN vs. SVAL - Sectors Allocation Comparison

Sectors
IWN
SVAL

Financial Services

28.1%
22.7%

Industrials

12.1%
12.9%

Real Estate

11.4%
4.7%

Healthcare

10.5%
12.0%

Consumer Cyclical

9.6%
11.8%

Technology

6.8%
10.4%

Energy

6.0%
10.0%

Utilities

5.2%
3.4%

Basic Materials

4.2%
4.7%

Consumer Defensive

3.3%
4.3%

Communication Services

2.2%
3.0%

Financial Services

IWN
28.1%
SVAL
22.7%

Industrials

IWN
12.1%
SVAL
12.9%

Real Estate

IWN
11.4%
SVAL
4.7%

Healthcare

IWN
10.5%
SVAL
12.0%

Consumer Cyclical

IWN
9.6%
SVAL
11.8%

Technology

IWN
6.8%
SVAL
10.4%

Energy

IWN
6.0%
SVAL
10.0%

Utilities

IWN
5.2%
SVAL
3.4%

Basic Materials

IWN
4.2%
SVAL
4.7%

Consumer Defensive

IWN
3.3%
SVAL
4.3%

Communication Services

IWN
2.2%
SVAL
3.0%

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 US Small Cap Value Factor ETF

Often compared with IWN:
IWN vs. IWMIWN vs. IWOIWN vs. VTWOIWN vs. IJSIWN vs. IWSIWN vs. IWVIWN vs. IWX
Often compared with SVAL:
SVAL vs. AVUVSVAL vs. XSVMSVAL vs. SPYVSVAL vs. IJSSVAL vs. SLYVSVAL vs. IWOSVAL vs. VDC

Return for Risk

IWN vs. SVAL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
IWN
IWN Risk / Return Rank: 9292
Overall Rank
IWN Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
IWN Sortino Ratio Rank: 9292
Sortino Ratio Rank
IWN Omega Ratio Rank: 8989
Omega Ratio Rank
IWN Calmar Ratio Rank: 9494
Calmar Ratio Rank
IWN Martin Ratio Rank: 9393
Martin Ratio Rank
SVAL
SVAL Risk / Return Rank: 9292
Overall Rank
SVAL Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
SVAL Sortino Ratio Rank: 9393
Sortino Ratio Rank
SVAL Omega Ratio Rank: 9191
Omega Ratio Rank
SVAL Calmar Ratio Rank: 9393
Calmar Ratio Rank
SVAL Martin Ratio Rank: 9292
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IWN vs. SVAL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2000 Value ETF (IWN) and iShares US Small Cap Value Factor ETF (SVAL). 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.

IWNSVALDifference
Sharpe ratioReturn per unit of total volatility
2.33
2.41

-0.08

Sortino ratioReturn per unit of downside risk
3.31
3.51

-0.20

Omega ratioGain probability vs. loss probability

1.41

1.42

-0.02

Calmar ratioReturn relative to maximum drawdown

4.79

4.59

+0.20

Martin ratioReturn relative to average drawdown

17.22

15.49

+1.72

IWN vs. SVAL - Sharpe Ratio Comparison

The current IWN Sharpe Ratio is 2.33, which is comparable to the SVAL Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of IWN and SVAL, 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. SVAL - Drawdown Comparison

The maximum IWN drawdown since its inception was -61.55%, which is greater than SVAL's maximum drawdown of -27.44%. Use the drawdown chart below to compare losses from any high point for IWN and SVAL.

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Drawdown Indicators

IWNSVALDifference

Max Drawdown

Largest peak-to-trough decline

-61.55%

-27.44%

-34.11%

Max Drawdown (1Y)

Largest decline over 1 year

-8.45%

-8.94%

+0.49%

Max Drawdown (3Y)

Largest decline over 3 years

-26.70%

-27.44%

+0.74%

Max Drawdown (5Y)

Largest decline over 5 years

-26.70%

-27.44%

+0.74%

Max Drawdown (10Y)

Largest decline over 10 years

-46.08%

—

—

Current Drawdown

Current decline from peak

-1.31%

-0.79%

-0.52%

Average Drawdown

Average peak-to-trough decline

-10.10%

-8.29%

-1.81%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.35%

2.64%

-0.29%

Volatility

IWN vs. SVAL - Volatility Comparison

iShares Russell 2000 Value ETF (IWN) and iShares US Small Cap Value Factor ETF (SVAL) have volatilities of 3.21% and 3.19%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IWNSVALDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.21%

3.19%

+0.02%

Volatility (6M)

Calculated over the trailing 6-month period

11.81%

10.99%

+0.82%

Volatility (1Y)

Calculated over the trailing 1-year period

17.38%

17.03%

+0.35%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.22%

22.01%

-0.79%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.33%

23.04%

+0.29%

IWN vs. SVAL - Expense Ratio Comparison

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

IWN's dividend yield for the trailing twelve months is around 1.44%, less than SVAL's 2.04% yield.

PositionTTM20252024202320222021202020192018201720162015
IWN
iShares Russell 2000 Value ETF		1.44%1.70%1.80%2.04%2.12%1.48%1.60%1.92%1.99%1.78%1.74%2.15%
SVAL
iShares US Small Cap Value Factor ETF		2.04%2.33%1.82%2.25%2.09%2.33%0.28%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

With a correlation of 0.91, IWN and SVAL move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

IWN has higher volatility (3.21%) compared to SVAL (3.19%). In terms of maximum drawdown, IWN dropped -61.55% vs SVAL's -27.44%.

On 5-year performance, SVAL leads with 9.86% vs 8.77% for IWN. On fees, SVAL is cheaper at 0.20% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, SVAL has performed better with a 9.86% return vs 8.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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

SVAL has the higher dividend yield at 2.04%, compared with 1.44% for IWN.

IWN tracks Russell 2000 Value Index, while SVAL tracks Russell 2000 Focused Value Select Index. Their fees differ too: 0.24% for IWN and 0.20% for SVAL.

SVAL currently has the higher Sharpe Ratio (2.41 vs 2.33), 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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