IWR vs. MSTR
IWR (iShares Russell Midcap ETF) is Mid Cap Growth Equities fund tracking the Russell Midcap Index, while MSTR (Strategy Inc) is a stock. Over the past 10 years, IWR returned 11.79%/yr vs 20.92%/yr for MSTR. A 0.51 correlation means they provide meaningful diversification when combined.
Performance
IWR vs. MSTR - Performance Comparison
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Returns By Period
In the year-to-date period, IWR achieves a 13.23% return, which is significantly higher than MSTR's -18.41% return. Over the past 10 years, IWR has underperformed MSTR with an annualized return of 11.79%, while MSTR has yielded a comparatively higher 20.92% annualized return.
IWR
- 1D
- 0.93%
- 1M
- 3.80%
- YTD
- 13.23%
- 6M
- 11.96%
- 1Y
- 21.77%
- 3Y*
- 16.40%
- 5Y*
- 7.99%
- 10Y*
- 11.79%
MSTR
- 1D
- 3.18%
- 1M
- -30.37%
- YTD
- -18.41%
- 6M
- -29.74%
- 1Y
- -67.36%
- 3Y*
- 63.46%
- 5Y*
- 19.14%
- 10Y*
- 20.92%
IWR vs. MSTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IWR iShares Russell Midcap ETF | 13.23% | 10.37% | 15.21% | 17.05% | -17.48% | 22.44% | 16.93% | 30.23% | -9.10% | 18.25% |
MSTR Strategy Inc | -18.41% | -47.53% | 358.54% | 346.15% | -74.00% | 40.13% | 172.42% | 11.65% | -2.70% | -33.49% |
Correlation
The correlation between IWR and MSTR is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Jul 20, 2001 | 0.51 |
The correlation between IWR and MSTR has been stable across timeframes, ranging from 0.42 to 0.51 - a consistent structural relationship.
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Return for Risk
IWR vs. MSTR — Risk / Return Rank
IWR
MSTR
IWR vs. MSTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell Midcap ETF (IWR) and Strategy Inc (MSTR). 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 | MSTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.54 | ||
| Sortino ratioReturn per unit of downside risk | +3.99 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 0.82 | +0.46 |
| Calmar ratioReturn relative to maximum drawdown | 2.68 | -0.88 | +3.56 |
| Martin ratioReturn relative to average drawdown | 10.26 | -1.27 | +11.53 |
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Drawdowns
IWR vs. MSTR - Drawdown Comparison
The maximum IWR drawdown since its inception was -58.78%, smaller than the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for IWR and MSTR.
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Drawdown Indicators
| IWR | MSTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.78% | -99.86% | +41.08% |
Max Drawdown (1Y)Largest decline over 1 year | -8.17% | -76.53% | +68.36% |
Max Drawdown (3Y)Largest decline over 3 years | -21.09% | -77.42% | +56.33% |
Max Drawdown (5Y)Largest decline over 5 years | -26.18% | -84.11% | +57.93% |
Max Drawdown (10Y)Largest decline over 10 years | -40.59% | -89.27% | +48.68% |
Current DrawdownCurrent decline from peak | 0.00% | -73.84% | +73.84% |
Average DrawdownAverage peak-to-trough decline | -7.80% | -86.45% | +78.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.13% | 53.01% | -50.88% |
Volatility
IWR vs. MSTR - Volatility Comparison
The current volatility for iShares Russell Midcap ETF (IWR) is 4.49%, while Strategy Inc (MSTR) has a volatility of 21.60%. This indicates that IWR experiences smaller price fluctuations and is considered to be less risky than MSTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWR | MSTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.49% | 21.60% | -17.11% |
Volatility (6M)Calculated over the trailing 6-month period | 10.34% | 57.34% | -47.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.79% | 71.15% | -57.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.28% | 90.79% | -72.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.38% | 73.80% | -54.42% |
Dividends
IWR vs. MSTR - Dividend Comparison
IWR's dividend yield for the trailing twelve months is around 1.14%, while MSTR has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
MSTR Strategy Inc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IWR and MSTR have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTR has higher volatility (21.60%) compared to IWR (4.49%). In terms of maximum drawdown, IWR dropped -58.78% vs MSTR's -99.86%.
IWR currently has the higher Sharpe Ratio (1.59 vs -0.95), 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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