IWO vs. IVV

Last updated Jun 25, 2026

IWO (iShares Russell 2000 Growth ETF) and IVV (iShares Core S&P 500 ETF) are both exchange-traded funds - IWO is a Small Cap Growth Equities fund tracking the Russell 2000 Growth Index, while IVV is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, IWO returned 12.05%/yr vs 15.57%/yr for IVV. Their correlation of 0.84 suggests significant overlap in exposure. IWO charges 0.24%/yr vs 0.03%/yr for IVV.

Performance

IWO vs. IVV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell 2000 Growth ETF (IWO) and iShares Core S&P 500 ETF (IVV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IWO achieves a 20.61% return, which is significantly higher than IVV's 8.13% return. Over the past 10 years, IWO has underperformed IVV with an annualized return of 12.05%, while IVV has yielded a comparatively higher 15.57% annualized return.

IWO

• 1D: 0.34%
• 1M: 4.60%
• YTD: 20.61%
• 6M: 16.99%
• 1Y: 37.84%
• 3Y*: 19.29%
• 5Y*: 5.18%
• 10Y*: 12.05%

IVV

• 1D: -0.07%
• 1M: -1.40%
• YTD: 8.13%
• 6M: 6.81%
• 1Y: 22.31%
• 3Y*: 20.76%
• 5Y*: 13.03%
• 10Y*: 15.57%

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

IWO vs. IVV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IWO iShares Russell 2000 Growth ETF	20.61%	12.90%	15.04%	18.51%	-26.27%	2.54%	34.68%	28.48%	-9.43%	22.25%
IVV iShares Core S&P 500 ETF	8.13%	17.85%	24.93%	26.31%	-18.16%	28.76%	18.40%	31.07%	-4.49%	21.75%

Correlation

The correlation between IWO and IVV is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Jul 28, 2000	0.84

The correlation between IWO and IVV has been stable across timeframes, ranging from 0.80 to 0.84 - a consistent structural relationship.

IWO vs. IVV - Sectors Allocation Comparison

Sectors	IWO	IVV
Technology	25.9%	39.0%
Industrials	23.0%	7.8%
Healthcare	21.9%	8.3%
Financial Services	7.8%	11.1%
Consumer Cyclical	7.0%	9.9%
Basic Materials	4.0%	1.7%
Energy	3.1%	3.1%
Consumer Defensive	2.3%	4.5%
Communication Services	2.2%	10.6%
Real Estate	2.0%	1.8%
Utilities	0.6%	2.1%

Return for Risk

IWO vs. IVV — Risk / Return Rank

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

IWO

IWO Risk / Return Rank: 55
IWO Sharpe Ratio Rank: 57
IWO Sortino Ratio Rank: 54
IWO Omega Ratio Rank: 49
IWO Calmar Ratio Rank: 58
IWO Martin Ratio Rank: 58

IVV

IVV Risk / Return Rank: 60
IVV Sharpe Ratio Rank: 60
IVV Sortino Ratio Rank: 58
IVV Omega Ratio Rank: 59
IVV Calmar Ratio Rank: 57
IVV Martin Ratio Rank: 68

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.

IWO vs. IVV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2000 Growth ETF (IWO) and iShares Core S&P 500 ETF (IVV). 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.

	IWO	IVV	Difference
Sharpe ratio: Return per unit of total volatility	1.72	1.81	-0.09
Sortino ratio: Return per unit of downside risk	2.36	2.46	-0.10
Omega ratio: Gain probability vs. loss probability	1.28	1.33	-0.04
Calmar ratio: Return relative to maximum drawdown	2.56	2.52	+0.04
Martin ratio: Return relative to average drawdown	9.13	11.21	-2.08

IWO vs. IVV - Sharpe Ratio Comparison

The current IWO Sharpe Ratio is 1.72, which is comparable to the IVV Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of IWO and IVV, 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

IWO vs. IVV - Drawdown Comparison

The maximum IWO drawdown since its inception was -60.11%, which is greater than IVV's maximum drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for IWO and IVV.

Drawdown Indicators

	IWO	IVV	Difference
Max Drawdown Largest peak-to-trough decline	-60.11%	-55.25%	-4.86%
Max Drawdown (1Y) Largest decline over 1 year	-14.87%	-8.89%	-5.98%
Max Drawdown (3Y) Largest decline over 3 years	-28.57%	-18.75%	-9.82%
Max Drawdown (5Y) Largest decline over 5 years	-40.51%	-24.53%	-15.98%
Max Drawdown (10Y) Largest decline over 10 years	-42.02%	-33.90%	-8.12%
Current Drawdown Current decline from peak	-1.23%	-3.20%	+1.97%
Average Drawdown Average peak-to-trough decline	-16.67%	-10.76%	-5.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.16%	2.00%	+2.16%

Volatility

IWO vs. IVV - Volatility Comparison

iShares Russell 2000 Growth ETF (IWO) has a higher volatility of 7.79% compared to iShares Core S&P 500 ETF (IVV) at 4.86%. This indicates that IWO's price experiences larger fluctuations and is considered to be riskier than IVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWO	IVV	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.79%	4.86%	+2.93%
Volatility (6M) Calculated over the trailing 6-month period	16.63%	9.81%	+6.82%
Volatility (1Y) Calculated over the trailing 1-year period	22.18%	12.44%	+9.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.64%	16.98%	+7.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.17%	18.06%	+6.11%

IWO vs. IVV - Expense Ratio Comparison

IWO has a 0.24% expense ratio, which is higher than IVV's 0.03% 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

IWO vs. IVV - Dividend Comparison

IWO's dividend yield for the trailing twelve months is around 0.42%, less than IVV's 1.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVV iShares Core S&P 500 ETF	1.11%	1.17%	1.30%	1.44%	1.66%	1.20%	1.57%	1.85%	2.21%	1.75%	2.01%	2.27%
IWO iShares Russell 2000 Growth ETF	0.42%	0.56%	0.80%	0.73%	0.73%	0.32%	0.44%	0.71%	0.76%	0.73%	0.97%	0.89%

Frequently Asked Questions

Can I hold both IWO and IVV in my portfolio?

IWO and IVV have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IWO or IVV?

IWO has higher volatility (7.79%) compared to IVV (4.86%). In terms of maximum drawdown, IWO dropped -60.11% vs IVV's -55.25%.

Which ETF is better, IWO or IVV?

On 10-year performance, IVV leads with 15.57% vs 12.05% for IWO. On fees, IVV is cheaper at 0.03% per year. On volatility, IVV has been the lower-risk option at 4.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IWO or IVV?

Over the 10-year period, IVV has performed better with a 15.57% return vs 12.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IWO or IVV?

IVV is cheaper with a 0.03% expense ratio, compared with 0.24% for IWO.

Which ETF pays a higher dividend yield, IWO or IVV?

IVV has the higher dividend yield at 1.11%, compared with 0.42% for IWO.

What is the main difference between IWO and IVV?

IWO is categorized as Small Cap Growth Equities, while IVV is S&P 500. IWO tracks Russell 2000 Growth Index, while IVV tracks S&P 500 Index. Their fees differ too: 0.24% for IWO and 0.03% for IVV.

Which has better risk-adjusted returns?

IVV currently has the higher Sharpe Ratio (1.81 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.