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IWO vs. TSCGX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IWO vs. TSCGX

Last updated Jun 25, 2026

IWO (iShares Russell 2000 Growth ETF) and TSCGX (Thrivent Small Cap Growth Fund) are both Small Cap Growth Equities funds. Over the past 5 years, IWO returned 5.18%/yr vs 2.92%/yr for TSCGX. Their correlation of 0.89 suggests significant overlap in exposure. IWO charges 0.24%/yr vs 1.21%/yr for TSCGX.

Performance

IWO vs. TSCGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell 2000 Growth ETF (IWO) and Thrivent Small Cap Growth Fund (TSCGX). 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 stocks are quite close, with IWO having a 20.61% return and TSCGX slightly lower at 19.64%.

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%

TSCGX

1D
-1.83%
1M
4.72%
YTD
19.64%
6M
16.16%
1Y
27.00%
3Y*
12.77%
5Y*
2.92%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

IWO vs. TSCGX - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
IWO
iShares Russell 2000 Growth ETF		20.61%12.90%15.04%18.51%-26.27%2.54%34.68%28.48%-14.69%
TSCGX
Thrivent Small Cap Growth Fund		19.64%1.84%10.83%9.90%-22.54%11.30%55.07%30.05%-11.15%

Correlation

The correlation between IWO and TSCGX is 0.91, 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

0.91

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

0.93

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

0.95

Correlation (All Time)
Calculated using the full available price history since Mar 19, 2018

0.89

The correlation between IWO and TSCGX has been stable across timeframes, ranging from 0.89 to 0.95 - a consistent structural relationship.

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 Growth ETF

Thrivent Small Cap Growth Fund

Often compared with IWO:
IWO vs. IWMIWO vs. QQQIWO vs. IWNIWO vs. VTCLXIWO vs. VTWOIWO vs. SLYGIWO vs. IJR
Often compared with TSCGX:
TSCGX vs. SFSNXTSCGX vs. NEAGXTSCGX vs. AASCXTSCGX vs. TMSIXTSCGX vs. THMAXTSCGX vs. TAAAXTSCGX vs. AAHYX

Return for Risk

IWO vs. TSCGX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IWO
IWO Risk / Return Rank: 5555
Overall Rank
IWO Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
IWO Sortino Ratio Rank: 5454
Sortino Ratio Rank
IWO Omega Ratio Rank: 4949
Omega Ratio Rank
IWO Calmar Ratio Rank: 5858
Calmar Ratio Rank
IWO Martin Ratio Rank: 5858
Martin Ratio Rank
TSCGX
TSCGX Risk / Return Rank: 3838
Overall Rank
TSCGX Sharpe Ratio Rank: 3333
Sharpe Ratio Rank
TSCGX Sortino Ratio Rank: 3434
Sortino Ratio Rank
TSCGX Omega Ratio Rank: 3030
Omega Ratio Rank
TSCGX Calmar Ratio Rank: 5050
Calmar Ratio Rank
TSCGX Martin Ratio Rank: 4545
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.

IWO vs. TSCGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2000 Growth ETF (IWO) and Thrivent Small Cap Growth Fund (TSCGX). 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.

IWOTSCGXDifference
Sharpe ratioReturn per unit of total volatility
1.72
1.46

+0.26

Sortino ratioReturn per unit of downside risk
2.36
2.12

+0.24

Omega ratioGain probability vs. loss probability

1.28

1.25

+0.03

Calmar ratioReturn relative to maximum drawdown

2.56

2.48

+0.08

Martin ratioReturn relative to average drawdown

9.13

8.60

+0.53

IWO vs. TSCGX - Sharpe Ratio Comparison

The current IWO Sharpe Ratio is 1.72, which is comparable to the TSCGX Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of IWO and TSCGX, 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

IWO vs. TSCGX - Drawdown Comparison

The maximum IWO drawdown since its inception was -60.11%, which is greater than TSCGX's maximum drawdown of -38.84%. Use the drawdown chart below to compare losses from any high point for IWO and TSCGX.

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Drawdown Indicators

IWOTSCGXDifference

Max Drawdown

Largest peak-to-trough decline

-60.11%

-38.84%

-21.27%

Max Drawdown (1Y)

Largest decline over 1 year

-14.87%

-11.66%

-3.21%

Max Drawdown (3Y)

Largest decline over 3 years

-28.57%

-27.59%

-0.98%

Max Drawdown (5Y)

Largest decline over 5 years

-40.51%

-38.84%

-1.67%

Max Drawdown (10Y)

Largest decline over 10 years

-42.02%

—

—

Current Drawdown

Current decline from peak

-1.23%

-1.83%

+0.60%

Average Drawdown

Average peak-to-trough decline

-16.67%

-13.00%

-3.67%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.16%

3.35%

+0.81%

Volatility

IWO vs. TSCGX - Volatility Comparison

iShares Russell 2000 Growth ETF (IWO) has a higher volatility of 7.79% compared to Thrivent Small Cap Growth Fund (TSCGX) at 6.92%. This indicates that IWO's price experiences larger fluctuations and is considered to be riskier than TSCGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IWOTSCGXDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.79%

6.92%

+0.87%

Volatility (6M)

Calculated over the trailing 6-month period

16.63%

15.62%

+1.01%

Volatility (1Y)

Calculated over the trailing 1-year period

22.18%

19.86%

+2.32%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

24.64%

23.90%

+0.74%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.17%

24.45%

-0.28%

IWO vs. TSCGX - Expense Ratio Comparison

IWO has a 0.24% expense ratio, which is lower than TSCGX's 1.21% expense ratio.

Dividends

IWO vs. TSCGX - Dividend Comparison

IWO's dividend yield for the trailing twelve months is around 0.42%, less than TSCGX's 0.78% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
TSCGX
Thrivent Small Cap Growth Fund		0.78%0.87%0.00%0.00%0.00%2.39%2.20%0.50%2.27%0.00%0.00%0.00%

Frequently Asked Questions

With a correlation of 0.91, IWO and TSCGX 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.

IWO has higher volatility (7.79%) compared to TSCGX (6.92%). In terms of maximum drawdown, IWO dropped -60.11% vs TSCGX's -38.84%.

IWO currently has the higher Sharpe Ratio (1.72 vs 1.46), 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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