IWP vs. AQMIX
IWP (iShares Russell Mid-Cap Growth ETF) and AQMIX (AQR Managed Futures Strategy Fund) are both funds - IWP is a Mid Cap Growth Equities fund tracking the Russell Midcap Growth Index, while AQMIX is a Systematic Trend fund managed by AQR Funds. Over the past 10 years, IWP returned 12.43%/yr vs 5.08%/yr for AQMIX. At a 0.03 correlation, their price movements are largely independent. IWP charges 0.23%/yr vs 1.25%/yr for AQMIX.
Performance
IWP vs. AQMIX - Performance Comparison
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Returns By Period
In the year-to-date period, IWP achieves a 4.59% return, which is significantly lower than AQMIX's 13.79% return. Over the past 10 years, IWP has outperformed AQMIX with an annualized return of 12.43%, while AQMIX has yielded a comparatively lower 5.08% annualized return.
IWP
- 1D
- 0.80%
- 1M
- 4.11%
- YTD
- 4.59%
- 6M
- 3.03%
- 1Y
- 6.41%
- 3Y*
- 16.22%
- 5Y*
- 6.76%
- 10Y*
- 12.43%
AQMIX
- 1D
- 0.74%
- 1M
- 1.78%
- YTD
- 13.79%
- 6M
- 15.67%
- 1Y
- 25.86%
- 3Y*
- 12.79%
- 5Y*
- 12.87%
- 10Y*
- 5.08%
IWP vs. AQMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IWP iShares Russell Mid-Cap Growth ETF | 4.59% | 8.45% | 21.86% | 25.70% | -26.90% | 12.60% | 35.25% | 35.04% | -4.89% | 24.93% |
AQMIX AQR Managed Futures Strategy Fund | 13.79% | 14.62% | 8.13% | 2.08% | 35.47% | -1.04% | -0.43% | 1.92% | -8.88% | -0.97% |
Correlation
The correlation between IWP and AQMIX is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Jan 6, 2010 | 0.03 |
The correlation between IWP and AQMIX shifts across timeframes, from -0.13 (5 years) to 0.07 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IWP vs. AQMIX — Risk / Return Rank
IWP
AQMIX
IWP vs. AQMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell Mid-Cap Growth ETF (IWP) and AQR Managed Futures Strategy Fund (AQMIX). 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.
| IWP | AQMIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.61 | ||
| Sortino ratioReturn per unit of downside risk | -3.42 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.54 | -0.46 |
| Calmar ratioReturn relative to maximum drawdown | 0.44 | 8.64 | -8.21 |
| Martin ratioReturn relative to average drawdown | 1.27 | 26.76 | -25.49 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IWP | AQMIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.39 | 3.00 | -2.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.30 | 1.11 | -0.81 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | 0.49 | +0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.43 | 0.00 |
Drawdowns
IWP vs. AQMIX - Drawdown Comparison
The maximum IWP drawdown since its inception was -56.92%, which is greater than AQMIX's maximum drawdown of -26.52%. Use the drawdown chart below to compare losses from any high point for IWP and AQMIX.
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Drawdown Indicators
| IWP | AQMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.92% | -26.52% | -30.40% |
Max Drawdown (1Y)Largest decline over 1 year | -14.79% | -3.02% | -11.77% |
Max Drawdown (3Y)Largest decline over 3 years | -25.20% | -13.57% | -11.63% |
Max Drawdown (5Y)Largest decline over 5 years | -38.62% | -13.57% | -25.05% |
Max Drawdown (10Y)Largest decline over 10 years | -38.62% | -23.34% | -15.28% |
Current DrawdownCurrent decline from peak | -1.32% | 0.00% | -1.32% |
Average DrawdownAverage peak-to-trough decline | -9.68% | -10.00% | +0.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.06% | 0.97% | +4.09% |
Volatility
IWP vs. AQMIX - Volatility Comparison
iShares Russell Mid-Cap Growth ETF (IWP) has a higher volatility of 3.73% compared to AQR Managed Futures Strategy Fund (AQMIX) at 2.63%. This indicates that IWP's price experiences larger fluctuations and is considered to be riskier than AQMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWP | AQMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.73% | 2.63% | +1.10% |
Volatility (6M)Calculated over the trailing 6-month period | 12.64% | 6.62% | +6.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.48% | 8.69% | +7.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.30% | 11.63% | +10.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.67% | 10.37% | +11.30% |
IWP vs. AQMIX - Expense Ratio Comparison
IWP has a 0.23% expense ratio, which is lower than AQMIX's 1.25% expense ratio.
Dividends
IWP vs. AQMIX - Dividend Comparison
IWP's dividend yield for the trailing twelve months is around 0.32%, less than AQMIX's 1.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AQMIX AQR Managed Futures Strategy Fund | 1.99% | 2.26% | 3.83% | 8.39% | 12.76% | 6.94% | 5.31% | 3.13% | 0.00% | 0.00% | 0.02% | 6.51% |
IWP iShares Russell Mid-Cap Growth ETF | 0.32% | 0.37% | 0.40% | 0.54% | 0.77% | 0.30% | 0.38% | 0.59% | 1.02% | 0.78% | 1.16% | 0.98% |
Frequently Asked Questions
IWP and AQMIX have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IWP has higher volatility (3.73%) compared to AQMIX (2.63%). In terms of maximum drawdown, IWP dropped -56.92% vs AQMIX's -26.52%.
AQMIX currently has the higher Sharpe Ratio (3.00 vs 0.39), 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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