IWR vs. FCUS

Last updated Jun 26, 2026

IWR (iShares Russell Midcap ETF) and FCUS (Pinnacle Focused Opportunities ETF) are both Mid Cap Growth Equities funds. IWR is passively managed, while FCUS is actively managed. Over the past 3 years, IWR returned 17.47%/yr vs 35.35%/yr for FCUS. A 0.70 correlation means they provide meaningful diversification when combined. IWR charges 0.19%/yr vs 0.79%/yr for FCUS.

Performance

IWR vs. FCUS - Performance Comparison

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

Returns By Period

In the year-to-date period, IWR achieves a 14.90% return, which is significantly lower than FCUS's 43.69% return.

IWR

• 1D: 1.35%
• 1M: 3.20%
• YTD: 14.90%
• 6M: 13.08%
• 1Y: 23.04%
• 3Y*: 17.47%
• 5Y*: 8.17%
• 10Y*: 12.41%

FCUS

• 1D: 2.59%
• 1M: -0.64%
• YTD: 43.69%
• 6M: 40.12%
• 1Y: 87.12%
• 3Y*: 35.35%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IWR vs. FCUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IWR iShares Russell Midcap ETF	14.90%	10.37%	15.21%	17.05%	-0.44%
FCUS Pinnacle Focused Opportunities ETF	43.69%	13.69%	30.59%	21.13%	0.87%

Correlation

The correlation between IWR and FCUS is 0.59, 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	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (All Time) Calculated using the full available price history since Dec 30, 2022	0.70

The correlation between IWR and FCUS shifts across timeframes, from 0.59 (1 year) to 0.70 (all time), reflecting how their relationship changes across market environments.

IWR vs. FCUS - Sectors Allocation Comparison

Sectors	IWR	FCUS
Technology	19.6%	53.3%
Industrials	18.1%	9.2%
Financial Services	12.1%	-
Consumer Cyclical	11.1%	3.1%
Healthcare	8.7%	2.6%
Real Estate	6.8%	-
Energy	6.5%	17.1%
Utilities	5.7%	-
Basic Materials	4.2%	11.1%
Consumer Defensive	3.9%	3.7%
Communication Services	3.3%	2.2%

Return for Risk

IWR vs. FCUS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IWR

IWR Risk / Return Rank: 60
IWR Sharpe Ratio Rank: 57
IWR Sortino Ratio Rank: 58
IWR Omega Ratio Rank: 53
IWR Calmar Ratio Rank: 66
IWR Martin Ratio Rank: 68

FCUS

FCUS Risk / Return Rank: 82
FCUS Sharpe Ratio Rank: 87
FCUS Sortino Ratio Rank: 70
FCUS Omega Ratio Rank: 73
FCUS Calmar Ratio Rank: 90
FCUS Martin Ratio Rank: 89

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. FCUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell Midcap ETF (IWR) and Pinnacle Focused Opportunities ETF (FCUS). 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.

	IWR	FCUS	Difference
Sharpe ratio: Return per unit of total volatility	1.68	2.45	-0.77
Sortino ratio: Return per unit of downside risk	2.39	2.76	-0.37
Omega ratio: Gain probability vs. loss probability	1.29	1.38	-0.09
Calmar ratio: Return relative to maximum drawdown	2.83	4.95	-2.11
Martin ratio: Return relative to average drawdown	10.84	17.01	-6.18

IWR vs. FCUS - Sharpe Ratio Comparison

The current IWR Sharpe Ratio is 1.68, which is lower than the FCUS Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of IWR and FCUS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IWR vs. FCUS - Drawdown Comparison

The maximum IWR drawdown since its inception was -58.78%, which is greater than FCUS's maximum drawdown of -39.89%. Use the drawdown chart below to compare losses from any high point for IWR and FCUS.

Drawdown Indicators

	IWR	FCUS	Difference
Max Drawdown Largest peak-to-trough decline	-58.78%	-39.89%	-18.89%
Max Drawdown (1Y) Largest decline over 1 year	-8.17%	-17.70%	+9.53%
Max Drawdown (3Y) Largest decline over 3 years	-21.09%	-39.89%	+18.80%
Max Drawdown (5Y) Largest decline over 5 years	-26.18%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-40.59%	—	—
Current Drawdown Current decline from peak	0.00%	-4.25%	+4.25%
Average Drawdown Average peak-to-trough decline	-7.79%	-7.50%	-0.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.13%	5.14%	-3.01%

Volatility

IWR vs. FCUS - Volatility Comparison

The current volatility for iShares Russell Midcap ETF (IWR) is 4.67%, while Pinnacle Focused Opportunities ETF (FCUS) has a volatility of 12.51%. This indicates that IWR experiences smaller price fluctuations and is considered to be less risky than FCUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWR	FCUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.67%	12.51%	-7.84%
Volatility (6M) Calculated over the trailing 6-month period	10.51%	26.99%	-16.48%
Volatility (1Y) Calculated over the trailing 1-year period	13.83%	35.77%	-21.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.30%	30.35%	-12.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.36%	30.35%	-10.99%

IWR vs. FCUS - Expense Ratio Comparison

IWR has a 0.19% expense ratio, which is lower than FCUS's 0.79% expense ratio.

Dividends

IWR vs. FCUS - Dividend Comparison

IWR's dividend yield for the trailing twelve months is around 1.15%, less than FCUS's 3.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCUS Pinnacle Focused Opportunities ETF	3.01%	4.33%	11.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IWR iShares Russell Midcap ETF	1.15%	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

Can I hold both IWR and FCUS in my portfolio?

IWR and FCUS have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IWR or FCUS?

FCUS has higher volatility (12.51%) compared to IWR (4.67%). In terms of maximum drawdown, IWR dropped -58.78% vs FCUS's -39.89%.

Which ETF is better, IWR or FCUS?

On 3-year performance, FCUS leads with 35.35% vs 17.47% for IWR. On fees, IWR is cheaper at 0.19% per year. On volatility, IWR has been the lower-risk option at 4.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IWR or FCUS?

Over the 3-year period, FCUS has performed better with a 35.35% return vs 17.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IWR or FCUS?

IWR is cheaper with a 0.19% expense ratio, compared with 0.79% for FCUS.

Which ETF pays a higher dividend yield, IWR or FCUS?

FCUS has the higher dividend yield at 3.01%, compared with 1.15% for IWR.

What is the main difference between IWR and FCUS?

They also come from different issuers: iShares and Pinnacle. Their fees differ too: 0.19% for IWR and 0.79% for FCUS.

Which has better risk-adjusted returns?

FCUS currently has the higher Sharpe Ratio (2.45 vs 1.68), 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.