PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
IWR vs. BOUT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IWR vs. BOUT

Last updated Jun 5, 2026

IWR (iShares Russell Midcap ETF) and BOUT (Innovator IBD Breakout Opportunities ETF) are both Mid Cap Growth Equities funds - IWR tracks the Russell Midcap Index while BOUT tracks the IBD Breakout Stocks Total Return Index. Both are passively managed. Over the past 5 years, IWR returned 8.11%/yr vs 8.25%/yr for BOUT. A 0.76 correlation means they provide meaningful diversification when combined. IWR charges 0.19%/yr vs 0.80%/yr for BOUT.

Performance

IWR vs. BOUT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell Midcap ETF (IWR) and Innovator IBD Breakout Opportunities ETF (BOUT). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, IWR achieves a 13.02% return, which is significantly lower than BOUT's 31.39% return.

IWR

1D
0.52%
1M
3.28%
YTD
13.02%
6M
12.45%
1Y
22.54%
3Y*
17.59%
5Y*
8.11%
10Y*
11.55%

BOUT

1D
-0.01%
1M
5.85%
YTD
31.39%
6M
30.30%
1Y
35.27%
3Y*
17.42%
5Y*
8.25%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

IWR vs. BOUT - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
IWR
iShares Russell Midcap ETF		13.02%10.37%15.21%17.05%-17.48%22.44%16.93%30.23%-15.92%
BOUT
Innovator IBD Breakout Opportunities ETF		31.39%-6.77%18.82%13.27%-22.60%22.69%50.56%20.59%-29.80%

Correlation

The correlation between IWR and BOUT is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.72

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

0.79

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

0.78

Correlation (All Time)
Calculated using the full available price history since Sep 14, 2018

0.76

The correlation between IWR and BOUT has been stable across timeframes, ranging from 0.72 to 0.79 - a consistent structural relationship.

IWR vs. BOUT - Sectors Allocation Comparison

Sectors
IWR
BOUT

Industrials

18.4%
9.7%

Technology

17.2%
28.4%

Financial Services

12.5%
22.9%

Consumer Cyclical

11.2%
8.5%

Healthcare

8.7%
2.6%

Energy

7.2%
3.1%

Real Estate

7.0%
3.5%

Utilities

6.1%
7.0%

Basic Materials

4.3%
9.9%

Consumer Defensive

4.1%
9.7%

Communication Services

3.4%
2.0%

Industrials

IWR
18.4%
BOUT
9.7%

Technology

IWR
17.2%
BOUT
28.4%

Financial Services

IWR
12.5%
BOUT
22.9%

Consumer Cyclical

IWR
11.2%
BOUT
8.5%

Healthcare

IWR
8.7%
BOUT
2.6%

Energy

IWR
7.2%
BOUT
3.1%

Real Estate

IWR
7.0%
BOUT
3.5%

Utilities

IWR
6.1%
BOUT
7.0%

Basic Materials

IWR
4.3%
BOUT
9.9%

Consumer Defensive

IWR
4.1%
BOUT
9.7%

Communication Services

IWR
3.4%
BOUT
2.0%

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 Midcap ETF

Innovator IBD Breakout Opportunities ETF

Often compared with IWR:
IWR vs. VOIWR vs. IWDIWR vs. SPMDIWR vs. IWNIWR vs. SCHMIWR vs. VXFIWR vs. REGL
Often compared with BOUT:
BOUT vs. FFTYBOUT vs. VOOBOUT vs. SPYBOUT vs. SPMOBOUT vs. SMHBOUT vs. SCHGBOUT vs. QQQ

Return for Risk

IWR vs. BOUT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IWR
IWR Risk / Return Rank: 5353
Overall Rank
IWR Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
IWR Sortino Ratio Rank: 5151
Sortino Ratio Rank
IWR Omega Ratio Rank: 4848
Omega Ratio Rank
IWR Calmar Ratio Rank: 5757
Calmar Ratio Rank
IWR Martin Ratio Rank: 6161
Martin Ratio Rank
BOUT
BOUT Risk / Return Rank: 5151
Overall Rank
BOUT Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
BOUT Sortino Ratio Rank: 4747
Sortino Ratio Rank
BOUT Omega Ratio Rank: 4646
Omega Ratio Rank
BOUT Calmar Ratio Rank: 6161
Calmar Ratio Rank
BOUT Martin Ratio Rank: 5353
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.

IWR vs. BOUT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell Midcap ETF (IWR) and Innovator IBD Breakout Opportunities ETF (BOUT). 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.

IWRBOUTDifference
Sharpe ratioReturn per unit of total volatility
1.69
1.71

-0.01

Sortino ratioReturn per unit of downside risk
2.44
2.33

+0.10

Omega ratioGain probability vs. loss probability

1.30

1.30

0.00

Calmar ratioReturn relative to maximum drawdown

2.77

3.01

-0.24

Martin ratioReturn relative to average drawdown

10.70

9.00

+1.69

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

IWR vs. BOUT - Sharpe Ratio Comparison

The current IWR Sharpe Ratio is 1.69, which is comparable to the BOUT Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of IWR and BOUT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

IWRBOUTDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.69

1.71

-0.01

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.45

0.43

+0.02

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.60

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.50

0.41

+0.09

Drawdowns

IWR vs. BOUT - Drawdown Comparison

The maximum IWR drawdown since its inception was -58.78%, which is greater than BOUT's maximum drawdown of -36.75%. Use the drawdown chart below to compare losses from any high point for IWR and BOUT.

Loading charts...

Drawdown Indicators

IWRBOUTDifference

Max Drawdown

Largest peak-to-trough decline

-58.78%

-36.75%

-22.03%

Max Drawdown (1Y)

Largest decline over 1 year

-8.17%

-11.76%

+3.59%

Max Drawdown (3Y)

Largest decline over 3 years

-21.09%

-25.31%

+4.22%

Max Drawdown (5Y)

Largest decline over 5 years

-26.18%

-28.28%

+2.10%

Max Drawdown (10Y)

Largest decline over 10 years

-40.59%

—

—

Current Drawdown

Current decline from peak

0.00%

-0.01%

+0.01%

Average Drawdown

Average peak-to-trough decline

-7.80%

-12.29%

+4.49%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.11%

3.93%

-1.82%

Volatility

IWR vs. BOUT - Volatility Comparison

The current volatility for iShares Russell Midcap ETF (IWR) is 3.16%, while Innovator IBD Breakout Opportunities ETF (BOUT) has a volatility of 5.96%. This indicates that IWR experiences smaller price fluctuations and is considered to be less risky than BOUT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

IWRBOUTDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.16%

5.96%

-2.80%

Volatility (6M)

Calculated over the trailing 6-month period

9.84%

16.05%

-6.21%

Volatility (1Y)

Calculated over the trailing 1-year period

13.36%

20.79%

-7.43%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.22%

19.48%

-1.26%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.36%

22.93%

-3.57%

IWR vs. BOUT - Expense Ratio Comparison

IWR has a 0.19% expense ratio, which is lower than BOUT's 0.80% expense ratio.

Dividends

IWR vs. BOUT - Dividend Comparison

IWR's dividend yield for the trailing twelve months is around 1.14%, more than BOUT's 0.26% yield.

PositionTTM20252024202320222021202020192018201720162015
BOUT
Innovator IBD Breakout Opportunities ETF		0.26%0.34%0.60%1.32%1.35%0.00%0.00%0.00%0.22%0.00%0.00%0.00%
IWR
iShares Russell Midcap ETF		1.14%1.29%1.27%1.43%1.59%1.04%1.28%1.43%1.98%1.52%1.72%1.59%

Frequently Asked Questions

IWR and BOUT have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

BOUT has higher volatility (5.96%) compared to IWR (3.16%). In terms of maximum drawdown, IWR dropped -58.78% vs BOUT's -36.75%.

On 5-year performance, BOUT leads with 8.25% vs 8.11% for IWR. On fees, IWR is cheaper at 0.19% per year. On volatility, IWR has been the lower-risk option at 3.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, BOUT has performed better with a 8.25% return vs 8.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IWR is cheaper with a 0.19% expense ratio, compared with 0.80% for BOUT.

IWR has the higher dividend yield at 1.14%, compared with 0.26% for BOUT.

IWR tracks Russell Midcap Index, while BOUT tracks IBD Breakout Stocks Total Return Index. They also come from different issuers: iShares and Innovator. Their fees differ too: 0.19% for IWR and 0.80% for BOUT.

BOUT currently has the higher Sharpe Ratio (1.71 vs 1.69), 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.

Portfolio Optimizer

Find the right allocation for IWR and BOUT

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer