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IWO vs. VTCLX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IWO vs. VTCLX

Last updated Jun 6, 2026

IWO (iShares Russell 2000 Growth ETF) and VTCLX (Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares) are both funds - IWO is a Small Cap Growth Equities fund tracking the Russell 2000 Growth Index, while VTCLX is a Large Cap Blend Equities fund managed by BlackRock. Over the past 10 years, IWO returned 10.76%/yr vs 15.38%/yr for VTCLX. Their correlation of 0.87 suggests significant overlap in exposure. IWO charges 0.24%/yr vs 0.09%/yr for VTCLX.

Performance

IWO vs. VTCLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell 2000 Growth ETF (IWO) and Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IWO achieves a 13.43% return, which is significantly higher than VTCLX's 11.03% return. Over the past 10 years, IWO has underperformed VTCLX with an annualized return of 10.76%, while VTCLX has yielded a comparatively higher 15.38% annualized return.

IWO

1D
-4.34%
1M
-2.10%
YTD
13.43%
6M
10.88%
1Y
33.25%
3Y*
16.40%
5Y*
4.95%
10Y*
10.76%

VTCLX

1D
0.45%
1M
3.02%
YTD
11.03%
6M
10.64%
1Y
28.54%
3Y*
22.19%
5Y*
13.20%
10Y*
15.38%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IWO vs. VTCLX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IWO
iShares Russell 2000 Growth ETF		13.43%12.90%15.04%18.51%-26.27%2.54%34.68%28.48%-9.43%22.25%
VTCLX
Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares		11.03%17.44%23.76%26.62%-19.07%26.87%21.08%31.47%-4.98%22.40%

Correlation

The correlation between IWO and VTCLX is 0.83, 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

0.83

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

0.82

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

0.85

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

0.84

Correlation (All Time)
Calculated using the full available price history since Nov 13, 2001

0.87

The correlation between IWO and VTCLX has been stable across timeframes, ranging from 0.82 to 0.87 - a consistent structural relationship.

IWO vs. VTCLX - Sectors Allocation Comparison

Sectors
IWO
VTCLX

Technology

23.6%
33.9%

Industrials

23.1%
8.8%

Healthcare

22.4%
8.6%

Financial Services

8.2%
11.9%

Consumer Cyclical

7.7%
10.1%

Basic Materials

4.2%
2.1%

Energy

3.5%
3.8%

Consumer Defensive

2.6%
4.9%

Communication Services

2.2%
10.9%

Real Estate

2.1%
2.0%

Utilities

0.7%
2.7%

Technology

IWO
23.6%
VTCLX
33.9%

Industrials

IWO
23.1%
VTCLX
8.8%

Healthcare

IWO
22.4%
VTCLX
8.6%

Financial Services

IWO
8.2%
VTCLX
11.9%

Consumer Cyclical

IWO
7.7%
VTCLX
10.1%

Basic Materials

IWO
4.2%
VTCLX
2.1%

Energy

IWO
3.5%
VTCLX
3.8%

Consumer Defensive

IWO
2.6%
VTCLX
4.9%

Communication Services

IWO
2.2%
VTCLX
10.9%

Real Estate

IWO
2.1%
VTCLX
2.0%

Utilities

IWO
0.7%
VTCLX
2.7%

Compare stocks, funds, or ETFs

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iShares Russell 2000 Growth ETF

Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares

Often compared with IWO:
IWO vs. IWMIWO vs. QQQIWO vs. IWNIWO vs. VTWOIWO vs. SLYGIWO vs. IJRIWO vs. SCHA
Often compared with VTCLX:
VTCLX vs. VOOVTCLX vs. VTMFXVTCLX vs. VTIVTCLX vs. VTMSXVTCLX vs. PRCOXVTCLX vs. VTSMXVTCLX vs. VUG

Return for Risk

IWO vs. VTCLX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IWO
IWO Risk / Return Rank: 4545
Overall Rank
IWO Sharpe Ratio Rank: 4646
Sharpe Ratio Rank
IWO Sortino Ratio Rank: 4444
Sortino Ratio Rank
IWO Omega Ratio Rank: 4141
Omega Ratio Rank
IWO Calmar Ratio Rank: 4747
Calmar Ratio Rank
IWO Martin Ratio Rank: 4949
Martin Ratio Rank
VTCLX
VTCLX Risk / Return Rank: 6969
Overall Rank
VTCLX Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
VTCLX Sortino Ratio Rank: 6262
Sortino Ratio Rank
VTCLX Omega Ratio Rank: 6161
Omega Ratio Rank
VTCLX Calmar Ratio Rank: 7373
Calmar Ratio Rank
VTCLX Martin Ratio Rank: 8383
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. VTCLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2000 Growth ETF (IWO) and Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX). 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.

IWOVTCLXDifference
Sharpe ratioReturn per unit of total volatility
1.53
2.33

-0.80

Sortino ratioReturn per unit of downside risk
2.13
3.20

-1.07

Omega ratioGain probability vs. loss probability

1.26

1.42

-0.16

Calmar ratioReturn relative to maximum drawdown

2.25

3.19

-0.94

Martin ratioReturn relative to average drawdown

8.04

14.83

-6.78

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IWO vs. VTCLX - Sharpe Ratio Comparison

The current IWO Sharpe Ratio is 1.53, which is lower than the VTCLX Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of IWO and VTCLX, 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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Sharpe Ratios by Period

IWOVTCLXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.53

2.33

-0.80

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.20

0.77

-0.57

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.45

0.84

-0.40

Sharpe Ratio (All Time)

Calculated using the full available price history

0.28

0.53

-0.25

Drawdowns

IWO vs. VTCLX - Drawdown Comparison

The maximum IWO drawdown since its inception was -60.11%, which is greater than VTCLX's maximum drawdown of -55.18%. Use the drawdown chart below to compare losses from any high point for IWO and VTCLX.

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Drawdown Indicators

IWOVTCLXDifference

Max Drawdown

Largest peak-to-trough decline

-60.11%

-55.18%

-4.93%

Max Drawdown (1Y)

Largest decline over 1 year

-14.87%

-8.79%

-6.08%

Max Drawdown (3Y)

Largest decline over 3 years

-28.57%

-19.01%

-9.56%

Max Drawdown (5Y)

Largest decline over 5 years

-40.51%

-24.98%

-15.53%

Max Drawdown (10Y)

Largest decline over 10 years

-42.02%

-34.56%

-7.46%

Current Drawdown

Current decline from peak

-4.34%

-0.26%

-4.08%

Average Drawdown

Average peak-to-trough decline

-16.70%

-7.56%

-9.14%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.15%

1.89%

+2.26%

Volatility

IWO vs. VTCLX - Volatility Comparison

iShares Russell 2000 Growth ETF (IWO) has a higher volatility of 7.83% compared to Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX) at 2.90%. This indicates that IWO's price experiences larger fluctuations and is considered to be riskier than VTCLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IWOVTCLXDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.83%

2.90%

+4.93%

Volatility (6M)

Calculated over the trailing 6-month period

16.28%

9.11%

+7.17%

Volatility (1Y)

Calculated over the trailing 1-year period

21.80%

12.03%

+9.77%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

24.56%

17.22%

+7.34%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.16%

18.27%

+5.89%

IWO vs. VTCLX - Expense Ratio Comparison

IWO has a 0.24% expense ratio, which is higher than VTCLX's 0.09% 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. VTCLX - Dividend Comparison

IWO's dividend yield for the trailing twelve months is around 0.41%, less than VTCLX's 0.85% yield.

PositionTTM20252024202320222021202020192018201720162015
IWO
iShares Russell 2000 Growth ETF		0.41%0.56%0.80%0.73%0.73%0.32%0.44%0.71%0.76%0.73%0.97%0.89%
VTCLX
Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares		0.85%0.93%1.04%1.24%1.47%1.04%1.32%1.52%1.83%1.57%1.76%1.69%

Frequently Asked Questions

IWO and VTCLX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IWO has higher volatility (7.83%) compared to VTCLX (2.90%). In terms of maximum drawdown, IWO dropped -60.11% vs VTCLX's -55.18%.

VTCLX currently has the higher Sharpe Ratio (2.33 vs 1.53), 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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