IWN vs. VTWV

Last updated Jun 24, 2026

IWN (iShares Russell 2000 Value ETF) and VTWV (Vanguard Russell 2000 Value ETF) are both Small Cap Value Equities funds tracking the Russell 2000 Value Index, from iShares and Vanguard respectively. Both are passively managed. Over the past 10 years, IWN returned 10.72%/yr vs 10.87%/yr for VTWV. Their correlation of 0.95 suggests significant overlap in exposure. IWN charges 0.24%/yr vs 0.10%/yr for VTWV.

Performance

IWN vs. VTWV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell 2000 Value ETF (IWN) and Vanguard Russell 2000 Value ETF (VTWV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with IWN having a 20.82% return and VTWV slightly higher at 20.87%. Both investments have delivered pretty close results over the past 10 years, with IWN having a 10.72% annualized return and VTWV not far ahead at 10.87%.

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%

VTWV

• 1D: -0.30%
• 1M: 3.41%
• YTD: 20.87%
• 6M: 18.73%
• 1Y: 42.70%
• 3Y*: 19.62%
• 5Y*: 7.38%
• 10Y*: 10.87%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IWN vs. VTWV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
VTWV Vanguard Russell 2000 Value ETF	20.87%	12.72%	7.83%	14.67%	-14.46%	27.90%	4.88%	22.44%	-13.34%	8.06%

Correlation

The correlation between IWN and VTWV is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since Sep 22, 2010	0.95

The correlation between IWN and VTWV has been stable across timeframes, ranging from 0.95 to 1.00 - a consistent structural relationship.

IWN vs. VTWV - Sectors Allocation Comparison

Sectors	IWN	VTWV
Financial Services	23.9%	24.0%
Industrials	12.1%	12.2%
Technology	11.6%	11.6%
Real Estate	10.2%	10.2%
Healthcare	10.1%	10.1%
Consumer Cyclical	8.9%	8.9%
Energy	7.9%	7.8%
Basic Materials	5.4%	5.4%
Utilities	5.1%	5.0%
Communication Services	2.7%	2.7%
Consumer Defensive	2.1%	2.1%

Return for Risk

IWN vs. VTWV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IWN

IWN Risk / Return Rank: 80
IWN Sharpe Ratio Rank: 78
IWN Sortino Ratio Rank: 79
IWN Omega Ratio Rank: 71
IWN Calmar Ratio Rank: 89
IWN Martin Ratio Rank: 85

VTWV

VTWV Risk / Return Rank: 80
VTWV Sharpe Ratio Rank: 77
VTWV Sortino Ratio Rank: 78
VTWV Omega Ratio Rank: 70
VTWV Calmar Ratio Rank: 88
VTWV Martin Ratio Rank: 85

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. VTWV - Risk-Adjusted Trends Comparison

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

	IWN	VTWV	Difference
Sharpe ratio: Return per unit of total volatility	2.36	2.33	+0.03
Sortino ratio: Return per unit of downside risk	3.30	3.27	+0.04
Omega ratio: Gain probability vs. loss probability	1.40	1.39	+0.01
Calmar ratio: Return relative to maximum drawdown	5.03	4.97	+0.07
Martin ratio: Return relative to average drawdown	16.92	16.97	-0.05

IWN vs. VTWV - Sharpe Ratio Comparison

The current IWN Sharpe Ratio is 2.36, which is comparable to the VTWV Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of IWN and VTWV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IWN vs. VTWV - Drawdown Comparison

The maximum IWN drawdown since its inception was -61.55%, which is greater than VTWV's maximum drawdown of -45.73%. Use the drawdown chart below to compare losses from any high point for IWN and VTWV.

Drawdown Indicators

	IWN	VTWV	Difference
Max Drawdown Largest peak-to-trough decline	-61.55%	-45.73%	-15.82%
Max Drawdown (1Y) Largest decline over 1 year	-8.45%	-8.64%	+0.19%
Max Drawdown (3Y) Largest decline over 3 years	-26.70%	-26.72%	+0.02%
Max Drawdown (5Y) Largest decline over 5 years	-26.70%	-26.72%	+0.02%
Max Drawdown (10Y) Largest decline over 10 years	-46.08%	-45.73%	-0.35%
Current Drawdown Current decline from peak	-0.20%	-0.30%	+0.10%
Average Drawdown Average peak-to-trough decline	-10.14%	-7.79%	-2.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.51%	2.52%	-0.01%

Volatility

IWN vs. VTWV - Volatility Comparison

iShares Russell 2000 Value ETF (IWN) and Vanguard Russell 2000 Value ETF (VTWV) have volatilities of 5.29% and 5.34%, 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.

Volatility by Period

	IWN	VTWV	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.29%	5.34%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	12.29%	12.61%	-0.32%
Volatility (1Y) Calculated over the trailing 1-year period	18.04%	18.42%	-0.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.41%	21.71%	-0.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.39%	23.54%	-0.15%

IWN vs. VTWV - Expense Ratio Comparison

IWN has a 0.24% expense ratio, which is higher than VTWV's 0.10% 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. VTWV - Dividend Comparison

IWN's dividend yield for the trailing twelve months is around 1.46%, less than VTWV's 1.63% 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%
VTWV Vanguard Russell 2000 Value ETF	1.63%	1.79%	1.78%	2.02%	2.07%	1.60%	1.49%	1.82%	2.04%	1.63%	1.57%	2.03%

Frequently Asked Questions

Can I hold both IWN and VTWV in my portfolio?

With a correlation of 1.00, IWN and VTWV 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.

Which is riskier, IWN or VTWV?

VTWV has higher volatility (5.34%) compared to IWN (5.29%). In terms of maximum drawdown, IWN dropped -61.55% vs VTWV's -45.73%.

Which ETF is better, IWN or VTWV?

On 10-year performance, VTWV leads with 10.87% vs 10.72% for IWN. On fees, VTWV is cheaper at 0.10% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IWN or VTWV?

Over the 10-year period, VTWV has performed better with a 10.87% return vs 10.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IWN or VTWV?

VTWV is cheaper with a 0.10% expense ratio, compared with 0.24% for IWN.

Which ETF pays a higher dividend yield, IWN or VTWV?

VTWV has the higher dividend yield at 1.63%, compared with 1.46% for IWN.

What is the main difference between IWN and VTWV?

Both ETFs track Russell 2000 Value Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.24% for IWN and 0.10% for VTWV.

Which has better risk-adjusted returns?

IWN currently has the higher Sharpe Ratio (2.36 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.