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IWN vs. VIEIX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IWN vs. VIEIX

Last updated Jun 24, 2026

IWN (iShares Russell 2000 Value ETF) and VIEIX (Vanguard Extended Market Index Fund Institutional Shares) are both funds - IWN is a Small Cap Value Equities fund tracking the Russell 2000 Value Index, while VIEIX is a Mid Cap Blend Equities fund managed by Vanguard. Over the past 10 years, IWN returned 10.72%/yr vs 12.64%/yr for VIEIX. Their correlation of 0.92 suggests significant overlap in exposure. IWN charges 0.24%/yr vs 0.05%/yr for VIEIX.

Performance

IWN vs. VIEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell 2000 Value ETF (IWN) and Vanguard Extended Market Index Fund Institutional Shares (VIEIX). 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 VIEIX's 15.56% return. Over the past 10 years, IWN has underperformed VIEIX with an annualized return of 10.72%, while VIEIX has yielded a comparatively higher 12.64% annualized return.

IWN

1D
-0.20%
1M
3.32%
YTD
20.82%
6M
18.59%
1Y
42.32%
3Y*
19.19%
5Y*
7.16%
10Y*
10.72%

VIEIX

1D
-0.12%
1M
4.29%
YTD
15.56%
6M
13.21%
1Y
29.40%
3Y*
20.28%
5Y*
6.40%
10Y*
12.64%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IWN vs. VIEIX - 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%
VIEIX
Vanguard Extended Market Index Fund Institutional Shares		15.56%11.42%15.49%26.97%-26.46%12.46%32.24%28.05%-9.36%18.12%

Correlation

The correlation between IWN and VIEIX is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.90

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

0.92

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

0.92

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

0.90

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

0.92

The correlation between IWN and VIEIX has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.

IWN vs. VIEIX - Sectors Allocation Comparison

Sectors
IWN
VIEIX

Financial Services

23.9%
14.0%

Industrials

12.1%
19.3%

Technology

11.6%
22.8%

Real Estate

10.2%
5.8%

Healthcare

10.1%
12.9%

Consumer Cyclical

8.9%
9.2%

Energy

7.9%
4.4%

Basic Materials

5.4%
4.2%

Utilities

5.1%
1.9%

Communication Services

2.7%
3.2%

Consumer Defensive

2.1%
2.5%

Financial Services

IWN
23.9%
VIEIX
14.0%

Industrials

IWN
12.1%
VIEIX
19.3%

Technology

IWN
11.6%
VIEIX
22.8%

Real Estate

IWN
10.2%
VIEIX
5.8%

Healthcare

IWN
10.1%
VIEIX
12.9%

Consumer Cyclical

IWN
8.9%
VIEIX
9.2%

Energy

IWN
7.9%
VIEIX
4.4%

Basic Materials

IWN
5.4%
VIEIX
4.2%

Utilities

IWN
5.1%
VIEIX
1.9%

Communication Services

IWN
2.7%
VIEIX
3.2%

Consumer Defensive

IWN
2.1%
VIEIX
2.5%

Compare stocks, funds, or ETFs

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iShares Russell 2000 Value ETF

Vanguard Extended Market Index Fund Institutional Shares

Often compared with IWN:
IWN vs. IWMIWN vs. IWOIWN vs. VTWOIWN vs. IJSIWN vs. IWSIWN vs. IWVIWN vs. IWX
Often compared with VIEIX:
VIEIX vs. FSMAXVIEIX vs. VOOVIEIX vs. VMCIXVIEIX vs. VEXAXVIEIX vs. VEXRXVIEIX vs. VSCIXVIEIX vs. SPY

Return for Risk

IWN vs. VIEIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IWN
IWN Risk / Return Rank: 8080
Overall Rank
IWN Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
IWN Sortino Ratio Rank: 7979
Sortino Ratio Rank
IWN Omega Ratio Rank: 7171
Omega Ratio Rank
IWN Calmar Ratio Rank: 8989
Calmar Ratio Rank
IWN Martin Ratio Rank: 8585
Martin Ratio Rank
VIEIX
VIEIX Risk / Return Rank: 4747
Overall Rank
VIEIX Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
VIEIX Sortino Ratio Rank: 3838
Sortino Ratio Rank
VIEIX Omega Ratio Rank: 3636
Omega Ratio Rank
VIEIX Calmar Ratio Rank: 6666
Calmar Ratio Rank
VIEIX Martin Ratio Rank: 5555
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. VIEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2000 Value ETF (IWN) and Vanguard Extended Market Index Fund Institutional Shares (VIEIX). 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.

IWNVIEIXDifference
Sharpe ratioReturn per unit of total volatility
2.36
1.72

+0.64

Sortino ratioReturn per unit of downside risk
3.30
2.40

+0.90

Omega ratioGain probability vs. loss probability

1.40

1.29

+0.11

Calmar ratioReturn relative to maximum drawdown

5.03

2.99

+2.04

Martin ratioReturn relative to average drawdown

16.92

10.48

+6.44

IWN vs. VIEIX - Sharpe Ratio Comparison

The current IWN Sharpe Ratio is 2.36, which is higher than the VIEIX Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of IWN and VIEIX, 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. VIEIX - Drawdown Comparison

The maximum IWN drawdown since its inception was -61.55%, which is greater than VIEIX's maximum drawdown of -58.03%. Use the drawdown chart below to compare losses from any high point for IWN and VIEIX.

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Drawdown Indicators

IWNVIEIXDifference

Max Drawdown

Largest peak-to-trough decline

-61.55%

-58.03%

-3.52%

Max Drawdown (1Y)

Largest decline over 1 year

-8.45%

-10.25%

+1.80%

Max Drawdown (3Y)

Largest decline over 3 years

-26.70%

-26.84%

+0.14%

Max Drawdown (5Y)

Largest decline over 5 years

-26.70%

-36.32%

+9.62%

Max Drawdown (10Y)

Largest decline over 10 years

-46.08%

-41.62%

-4.46%

Current Drawdown

Current decline from peak

-0.20%

-0.24%

+0.04%

Average Drawdown

Average peak-to-trough decline

-10.14%

-13.81%

+3.67%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.51%

2.91%

-0.40%

Volatility

IWN vs. VIEIX - Volatility Comparison

The current volatility for iShares Russell 2000 Value ETF (IWN) is 5.29%, while Vanguard Extended Market Index Fund Institutional Shares (VIEIX) has a volatility of 6.09%. This indicates that IWN experiences smaller price fluctuations and is considered to be less risky than VIEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IWNVIEIXDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.29%

6.09%

-0.80%

Volatility (6M)

Calculated over the trailing 6-month period

12.29%

13.29%

-1.00%

Volatility (1Y)

Calculated over the trailing 1-year period

18.04%

17.84%

+0.20%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.41%

22.45%

-1.04%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.39%

22.41%

+0.98%

IWN vs. VIEIX - Expense Ratio Comparison

IWN has a 0.24% expense ratio, which is higher than VIEIX's 0.05% 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. VIEIX - Dividend Comparison

IWN's dividend yield for the trailing twelve months is around 1.46%, more than VIEIX's 1.01% 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%
VIEIX
Vanguard Extended Market Index Fund Institutional Shares		1.01%1.14%1.10%1.26%1.16%1.14%1.08%1.31%1.67%1.27%1.45%1.37%

Frequently Asked Questions

With a correlation of 0.90, IWN and VIEIX 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.

VIEIX has higher volatility (6.09%) compared to IWN (5.29%). In terms of maximum drawdown, IWN dropped -61.55% vs VIEIX's -58.03%.

IWN currently has the higher Sharpe Ratio (2.36 vs 1.72), 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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