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IWN vs. XSVM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IWN vs. XSVM

Last updated Jun 24, 2026

IWN (iShares Russell 2000 Value ETF) and XSVM (Invesco S&P SmallCap Value with Momentum ETF) are both exchange-traded funds - IWN is a Small Cap Value Equities fund tracking the Russell 2000 Value Index, while XSVM is a Momentum fund tracking the S&P SmallCap 600 High Momentum Value Index. Both are passively managed. Over the past 10 years, IWN returned 10.72%/yr vs 13.32%/yr for XSVM. Their correlation of 0.93 suggests significant overlap in exposure. IWN charges 0.24%/yr vs 0.37%/yr for XSVM.

Performance

IWN vs. XSVM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell 2000 Value ETF (IWN) and Invesco S&P SmallCap Value with Momentum ETF (XSVM). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both investments are quite close, with IWN having a 20.82% return and XSVM slightly higher at 20.98%. Over the past 10 years, IWN has underperformed XSVM with an annualized return of 10.72%, while XSVM has yielded a comparatively higher 13.32% 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%

XSVM

1D
0.77%
1M
3.66%
YTD
20.98%
6M
18.82%
1Y
37.12%
3Y*
17.66%
5Y*
7.87%
10Y*
13.32%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IWN vs. XSVM - 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%
XSVM
Invesco S&P SmallCap Value with Momentum ETF		20.98%7.47%2.30%20.20%-13.63%56.36%5.08%30.01%-12.33%3.62%

Correlation

The correlation between IWN and XSVM is 0.89, 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

0.89

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

0.94

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

0.94

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

0.93

Correlation (All Time)
Calculated using the full available price history since Mar 3, 2005

0.93

The correlation between IWN and XSVM has been stable across timeframes, ranging from 0.89 to 0.94 - a consistent structural relationship.

IWN vs. XSVM - Sectors Allocation Comparison

Sectors
IWN
XSVM

Financial Services

23.9%
38.7%

Industrials

12.1%
6.3%

Technology

11.6%
9.5%

Real Estate

10.2%
4.8%

Healthcare

10.1%
1.1%

Consumer Cyclical

8.9%
17.4%

Energy

7.9%
9.3%

Basic Materials

5.4%
2.0%

Utilities

5.1%
1.2%

Communication Services

2.7%
2.8%

Consumer Defensive

2.1%
6.9%

Financial Services

IWN
23.9%
XSVM
38.7%

Industrials

IWN
12.1%
XSVM
6.3%

Technology

IWN
11.6%
XSVM
9.5%

Real Estate

IWN
10.2%
XSVM
4.8%

Healthcare

IWN
10.1%
XSVM
1.1%

Consumer Cyclical

IWN
8.9%
XSVM
17.4%

Energy

IWN
7.9%
XSVM
9.3%

Basic Materials

IWN
5.4%
XSVM
2.0%

Utilities

IWN
5.1%
XSVM
1.2%

Communication Services

IWN
2.7%
XSVM
2.8%

Consumer Defensive

IWN
2.1%
XSVM
6.9%

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 S&P SmallCap Value with Momentum ETF

Often compared with IWN:
IWN vs. IWMIWN vs. IWOIWN vs. VTWOIWN vs. IJSIWN vs. IWSIWN vs. IWVIWN vs. IWX
Often compared with XSVM:
XSVM vs. XSMOXSVM vs. AVUVXSVM vs. RWJXSVM vs. XSHQXSVM vs. SPHBXSVM vs. DGRSXSVM vs. RYPRX

Return for Risk

IWN vs. XSVM — 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
XSVM
XSVM Risk / Return Rank: 6767
Overall Rank
XSVM Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
XSVM Sortino Ratio Rank: 6767
Sortino Ratio Rank
XSVM Omega Ratio Rank: 6262
Omega Ratio Rank
XSVM Calmar Ratio Rank: 7676
Calmar Ratio Rank
XSVM Martin Ratio Rank: 6666
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. XSVM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2000 Value ETF (IWN) and Invesco S&P SmallCap Value with Momentum ETF (XSVM). 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.

IWNXSVMDifference
Sharpe ratioReturn per unit of total volatility
2.36
2.03

+0.34

Sortino ratioReturn per unit of downside risk
3.30
2.93

+0.37

Omega ratioGain probability vs. loss probability

1.40

1.36

+0.04

Calmar ratioReturn relative to maximum drawdown

5.03

3.70

+1.33

Martin ratioReturn relative to average drawdown

16.92

11.45

+5.48

IWN vs. XSVM - Sharpe Ratio Comparison

The current IWN Sharpe Ratio is 2.36, which is comparable to the XSVM Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of IWN and XSVM, 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. XSVM - Drawdown Comparison

The maximum IWN drawdown since its inception was -61.55%, roughly equal to the maximum XSVM drawdown of -62.57%. Use the drawdown chart below to compare losses from any high point for IWN and XSVM.

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Drawdown Indicators

IWNXSVMDifference

Max Drawdown

Largest peak-to-trough decline

-61.55%

-62.57%

+1.02%

Max Drawdown (1Y)

Largest decline over 1 year

-8.45%

-10.08%

+1.63%

Max Drawdown (3Y)

Largest decline over 3 years

-26.70%

-26.21%

-0.49%

Max Drawdown (5Y)

Largest decline over 5 years

-26.70%

-26.21%

-0.49%

Max Drawdown (10Y)

Largest decline over 10 years

-46.08%

-49.02%

+2.94%

Current Drawdown

Current decline from peak

-0.20%

-0.73%

+0.53%

Average Drawdown

Average peak-to-trough decline

-10.14%

-11.54%

+1.40%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.51%

3.25%

-0.74%

Volatility

IWN vs. XSVM - Volatility Comparison

iShares Russell 2000 Value ETF (IWN) has a higher volatility of 5.29% compared to Invesco S&P SmallCap Value with Momentum ETF (XSVM) at 4.63%. This indicates that IWN's price experiences larger fluctuations and is considered to be riskier than XSVM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IWNXSVMDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.29%

4.63%

+0.66%

Volatility (6M)

Calculated over the trailing 6-month period

12.29%

12.28%

+0.01%

Volatility (1Y)

Calculated over the trailing 1-year period

18.04%

18.54%

-0.50%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.41%

22.55%

-1.14%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.39%

25.07%

-1.68%

IWN vs. XSVM - Expense Ratio Comparison

IWN has a 0.24% expense ratio, which is lower than XSVM's 0.37% expense ratio.

Dividends

IWN vs. XSVM - Dividend Comparison

IWN's dividend yield for the trailing twelve months is around 1.46%, less than XSVM's 1.82% 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%
XSVM
Invesco S&P SmallCap Value with Momentum ETF		1.82%2.29%1.69%1.31%1.79%1.23%1.21%1.22%2.54%1.90%2.29%2.68%

Frequently Asked Questions

IWN and XSVM have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IWN has higher volatility (5.29%) compared to XSVM (4.63%). In terms of maximum drawdown, IWN dropped -61.55% vs XSVM's -62.57%.

On 10-year performance, XSVM leads with 13.32% vs 10.72% for IWN. On fees, IWN is cheaper at 0.24% per year. On volatility, XSVM has been the lower-risk option at 4.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, XSVM has performed better with a 13.32% return vs 10.72%. 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 0.37% for XSVM.

XSVM has the higher dividend yield at 1.82%, compared with 1.46% for IWN.

IWN is categorized as Small Cap Value Equities, while XSVM is Momentum. IWN tracks Russell 2000 Value Index, while XSVM tracks S&P SmallCap 600 High Momentum Value Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.24% for IWN and 0.37% for XSVM.

IWN currently has the higher Sharpe Ratio (2.36 vs 2.03), 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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