IWP vs. TBUX
IWP (iShares Russell Mid-Cap Growth ETF) and TBUX (T. Rowe Price Ultra Short-Term Bond ETF) are both exchange-traded funds - IWP is a Mid Cap Growth Equities fund tracking the Russell Midcap Growth Index, while TBUX is a Ultrashort Bond fund actively managed by T. Rowe Price. IWP is passively managed, while TBUX is actively managed. Over the past 3 years, IWP returned 12.07%/yr vs 5.75%/yr for TBUX. At a 0.12 correlation, their price movements are largely independent. IWP charges 0.23%/yr vs 0.17%/yr for TBUX.
Performance
IWP vs. TBUX - Performance Comparison
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Returns By Period
In the year-to-date period, IWP achieves a 0.63% return, which is significantly lower than TBUX's 2.21% return.
IWP
- 1D
- 0.00%
- 1M
- -3.07%
- 6M
- -2.52%
- YTD
- 0.63%
- 1Y
- -1.82%
- 3Y*
- 12.07%
- 5Y*
- 4.51%
- 10Y*
- 11.64%
- ALL TIME*
- 9.13%
TBUX
- 1D
- 0.02%
- 1M
- 0.37%
- 6M
- 2.05%
- YTD
- 2.21%
- 1Y
- 4.64%
- 3Y*
- 5.75%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.12%
IWP vs. TBUX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IWP iShares Russell Mid-Cap Growth ETF | 0.63% | 8.45% | 21.86% | 25.70% | -26.90% | 1.93% |
TBUX T. Rowe Price Ultra Short-Term Bond ETF | 2.21% | 5.37% | 6.38% | 6.39% | -0.13% | -0.25% |
Correlation
The correlation between IWP and TBUX is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2021 | 0.12 |
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Return for Risk
IWP vs. TBUX — Risk / Return Rank
IWP
TBUX
IWP vs. TBUX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell Mid-Cap Growth ETF (IWP) and T. Rowe Price Ultra Short-Term Bond ETF (TBUX). 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.
| IWP | TBUX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -7.15 | ||
| Sortino ratioReturn per unit of downside risk | -14.04 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 3.05 | -2.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.12 | 46.42 | -46.54 |
| Martin ratioReturn relative to average drawdown | -0.35 | 173.65 | -174.01 |
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Drawdowns
IWP vs. TBUX - Drawdown Comparison
The maximum IWP drawdown since its inception was -56.92%, which is greater than TBUX's maximum drawdown of -1.82%. Use the drawdown chart below to compare losses from any high point for IWP and TBUX.
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Drawdown Indicators
| IWP | TBUX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.92% | -1.82% | -55.10% |
Max Drawdown (1Y)Largest decline over 1 year | -14.79% | -0.10% | -14.69% |
Max Drawdown (3Y)Largest decline over 3 years | -25.20% | -0.33% | -24.87% |
Max Drawdown (5Y)Largest decline over 5 years | -38.62% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -38.62% | — | — |
Current DrawdownCurrent decline from peak | -6.02% | 0.00% | -6.02% |
Average DrawdownAverage peak-to-trough decline | -9.65% | -0.28% | -9.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.19% | 0.03% | +5.16% |
Volatility
IWP vs. TBUX - Volatility Comparison
iShares Russell Mid-Cap Growth ETF (IWP) has a higher volatility of 5.06% compared to T. Rowe Price Ultra Short-Term Bond ETF (TBUX) at 0.16%. This indicates that IWP's price experiences larger fluctuations and is considered to be riskier than TBUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWP | TBUX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.06% | 0.16% | +4.90% |
Volatility (6M)Calculated over the trailing 6-month period | 13.78% | 0.48% | +13.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.32% | 0.66% | +16.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.44% | 1.06% | +21.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.69% | 1.06% | +20.63% |
IWP vs. TBUX - Expense Ratio Comparison
IWP has a 0.23% expense ratio, which is higher than TBUX's 0.17% 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
IWP vs. TBUX - Dividend Comparison
IWP's dividend yield for the trailing twelve months is around 0.36%, less than TBUX's 4.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWP iShares Russell Mid-Cap Growth ETF | 0.36% | 0.37% | 0.40% | 0.54% | 0.77% | 0.30% | 0.38% | 0.59% | 1.02% | 0.78% | 1.16% | 0.98% |
TBUX T. Rowe Price Ultra Short-Term Bond ETF | 4.44% | 4.67% | 5.39% | 4.66% | 2.58% | 0.27% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IWP and TBUX have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IWP has higher volatility (5.06%) compared to TBUX (0.16%). In terms of maximum drawdown, IWP dropped -56.92% vs TBUX's -1.82%.
On 3-year performance, IWP leads with 12.07% vs 5.75% for TBUX. On fees, TBUX is cheaper at 0.17% per year. On volatility, TBUX has been the lower-risk option at 0.16%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IWP has performed better with a 12.07% return vs 5.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TBUX is cheaper with a 0.17% expense ratio, compared with 0.23% for IWP.
TBUX has the higher dividend yield at 4.44%, compared with 0.36% for IWP.
IWP is categorized as Mid Cap Growth Equities, while TBUX is Ultrashort Bond. They also come from different issuers: iShares and T. Rowe Price. Their fees differ too: 0.23% for IWP and 0.17% for TBUX.
TBUX currently has the higher Sharpe Ratio (7.05 vs -0.11), 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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