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IWR vs. IWD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IWR vs. IWD

Last updated Jun 23, 2026

IWR (iShares Russell Midcap ETF) and IWD (iShares Russell 1000 Value ETF) are both exchange-traded funds - IWR is a Mid Cap Growth Equities fund tracking the Russell Midcap Index, while IWD is a Large Cap Value Equities fund tracking the Russell 1000 Value Index. Both are passively managed. Over the past 10 years, IWR returned 12.03%/yr vs 11.73%/yr for IWD. Their correlation of 0.91 suggests significant overlap in exposure. IWR charges 0.19%/yr vs 0.18%/yr for IWD.

Performance

IWR vs. IWD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell Midcap ETF (IWR) and iShares Russell 1000 Value ETF (IWD). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IWR achieves a 13.93% return, which is significantly lower than IWD's 16.59% return. Both investments have delivered pretty close results over the past 10 years, with IWR having a 12.03% annualized return and IWD not far behind at 11.73%.

IWR

1D
0.52%
1M
3.28%
YTD
13.93%
6M
12.06%
1Y
23.42%
3Y*
17.38%
5Y*
8.30%
10Y*
12.03%

IWD

1D
0.56%
1M
3.38%
YTD
16.59%
6M
15.96%
1Y
30.67%
3Y*
18.83%
5Y*
11.26%
10Y*
11.73%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IWR vs. IWD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IWR
iShares Russell Midcap ETF		13.93%10.37%15.21%17.05%-17.48%22.44%16.93%30.23%-9.10%18.25%
IWD
iShares Russell 1000 Value ETF		16.59%15.68%14.17%11.34%-7.75%24.95%2.73%26.12%-8.45%13.45%

Correlation

The correlation between IWR and IWD is 0.93, 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

0.93

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

0.93

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

0.93

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

0.92

Correlation (All Time)
Calculated using the full available price history since Jul 20, 2001

0.91

The correlation between IWR and IWD has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.

IWR vs. IWD - Sectors Allocation Comparison

Sectors
IWR
IWD

Technology

19.6%
18.6%

Industrials

18.1%
12.5%

Financial Services

12.1%
18.4%

Consumer Cyclical

11.1%
7.1%

Healthcare

8.7%
10.6%

Real Estate

6.8%
3.9%

Energy

6.5%
6.3%

Utilities

5.7%
4.0%

Basic Materials

4.2%
3.7%

Consumer Defensive

3.9%
6.7%

Communication Services

3.3%
8.1%

Technology

IWR
19.6%
IWD
18.6%

Industrials

IWR
18.1%
IWD
12.5%

Financial Services

IWR
12.1%
IWD
18.4%

Consumer Cyclical

IWR
11.1%
IWD
7.1%

Healthcare

IWR
8.7%
IWD
10.6%

Real Estate

IWR
6.8%
IWD
3.9%

Energy

IWR
6.5%
IWD
6.3%

Utilities

IWR
5.7%
IWD
4.0%

Basic Materials

IWR
4.2%
IWD
3.7%

Consumer Defensive

IWR
3.9%
IWD
6.7%

Communication Services

IWR
3.3%
IWD
8.1%

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

iShares Russell 1000 Value ETF

Often compared with IWR:
IWR vs. VOIWR vs. SPMDIWR vs. IWNIWR vs. SCHMIWR vs. VXFIWR vs. REGLIWR vs. IMCG
Often compared with IWD:
IWD vs. IWFIWD vs. VTVIWD vs. IWBIWD vs. QQQIWD vs. VONVIWD vs. IWVIWD vs. EIMI.L

Return for Risk

IWR vs. IWD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IWR
IWR Risk / Return Rank: 5555
Overall Rank
IWR Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
IWR Sortino Ratio Rank: 5151
Sortino Ratio Rank
IWR Omega Ratio Rank: 4848
Omega Ratio Rank
IWR Calmar Ratio Rank: 6060
Calmar Ratio Rank
IWR Martin Ratio Rank: 6363
Martin Ratio Rank
IWD
IWD Risk / Return Rank: 8787
Overall Rank
IWD Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
IWD Sortino Ratio Rank: 8888
Sortino Ratio Rank
IWD Omega Ratio Rank: 8585
Omega Ratio Rank
IWD Calmar Ratio Rank: 8585
Calmar Ratio Rank
IWD Martin Ratio Rank: 8989
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. IWD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell Midcap ETF (IWR) and iShares Russell 1000 Value ETF (IWD). 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.

IWRIWDDifference
Sharpe ratioReturn per unit of total volatility
1.71
2.75

-1.04

Sortino ratioReturn per unit of downside risk
2.44
3.82

-1.39

Omega ratioGain probability vs. loss probability

1.30

1.49

-0.20

Calmar ratioReturn relative to maximum drawdown

2.88

4.54

-1.66

Martin ratioReturn relative to average drawdown

11.02

18.84

-7.82

IWR vs. IWD - Sharpe Ratio Comparison

The current IWR Sharpe Ratio is 1.71, which is lower than the IWD Sharpe Ratio of 2.75. The chart below compares the historical Sharpe Ratios of IWR and IWD, 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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Drawdowns

IWR vs. IWD - Drawdown Comparison

The maximum IWR drawdown since its inception was -58.78%, roughly equal to the maximum IWD drawdown of -60.10%. Use the drawdown chart below to compare losses from any high point for IWR and IWD.

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Drawdown Indicators

IWRIWDDifference

Max Drawdown

Largest peak-to-trough decline

-58.78%

-60.10%

+1.32%

Max Drawdown (1Y)

Largest decline over 1 year

-8.17%

-6.79%

-1.38%

Max Drawdown (3Y)

Largest decline over 3 years

-21.09%

-15.71%

-5.38%

Max Drawdown (5Y)

Largest decline over 5 years

-26.18%

-19.04%

-7.14%

Max Drawdown (10Y)

Largest decline over 10 years

-40.59%

-38.51%

-2.08%

Current Drawdown

Current decline from peak

-0.30%

-0.10%

-0.20%

Average Drawdown

Average peak-to-trough decline

-7.79%

-8.64%

+0.85%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.13%

1.63%

+0.50%

Volatility

IWR vs. IWD - Volatility Comparison

iShares Russell Midcap ETF (IWR) has a higher volatility of 4.41% compared to iShares Russell 1000 Value ETF (IWD) at 3.95%. This indicates that IWR's price experiences larger fluctuations and is considered to be riskier than IWD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IWRIWDDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.41%

3.95%

+0.46%

Volatility (6M)

Calculated over the trailing 6-month period

10.38%

8.59%

+1.79%

Volatility (1Y)

Calculated over the trailing 1-year period

13.80%

11.23%

+2.57%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.28%

14.83%

+3.45%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.40%

17.32%

+2.08%

IWR vs. IWD - Expense Ratio Comparison

IWR has a 0.19% expense ratio, which is higher than IWD's 0.18% 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

IWR vs. IWD - Dividend Comparison

IWR's dividend yield for the trailing twelve months is around 1.16%, less than IWD's 1.44% yield.

PositionTTM20252024202320222021202020192018201720162015
IWD
iShares Russell 1000 Value ETF		1.44%1.69%1.87%2.02%2.15%1.62%2.05%2.45%2.71%2.09%2.25%2.47%
IWR
iShares Russell Midcap ETF		1.16%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

With a correlation of 0.93, IWR and IWD move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

IWR has higher volatility (4.41%) compared to IWD (3.95%). In terms of maximum drawdown, IWR dropped -58.78% vs IWD's -60.10%.

On 10-year performance, IWR leads with 12.03% vs 11.73% for IWD. On fees, IWD is cheaper at 0.18% per year. On volatility, IWD has been the lower-risk option at 3.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IWR has performed better with a 12.03% return vs 11.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IWD is cheaper with a 0.18% expense ratio, compared with 0.19% for IWR.

IWD has the higher dividend yield at 1.44%, compared with 1.16% for IWR.

IWR is categorized as Mid Cap Growth Equities, while IWD is Large Cap Value Equities. IWR tracks Russell Midcap Index, while IWD tracks Russell 1000 Value Index. Their fees differ too: 0.19% for IWR and 0.18% for IWD.

IWD currently has the higher Sharpe Ratio (2.75 vs 1.71), 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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