IWR vs. TPLC

Last updated Jun 5, 2026

IWR (iShares Russell Midcap ETF) and TPLC (Timothy Plan Fund Timothy Plan US Large/Mid Cap Core Fund) are both Mid Cap Growth Equities funds - IWR tracks the Russell Midcap Index while TPLC tracks the Victory U.S. Large Cap Volatility Weighted BRI Index. Both are passively managed. Over the past 5 years, IWR returned 8.11%/yr vs 8.22%/yr for TPLC. With a 0.96 correlation, they move nearly in lockstep. IWR charges 0.19%/yr vs 0.52%/yr for TPLC.

Performance

IWR vs. TPLC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell Midcap ETF (IWR) and Timothy Plan Fund Timothy Plan US Large/Mid Cap Core Fund (TPLC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IWR achieves a 13.02% return, which is significantly higher than TPLC's 8.78% 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%

TPLC

• 1D: -0.12%
• 1M: 1.66%
• YTD: 8.78%
• 6M: 7.78%
• 1Y: 12.59%
• 3Y*: 13.91%
• 5Y*: 8.22%
• 10Y*: —

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

IWR vs. TPLC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
IWR iShares Russell Midcap ETF	13.02%	10.37%	15.21%	17.05%	-17.48%	22.44%	16.93%	8.93%
TPLC Timothy Plan Fund Timothy Plan US Large/Mid Cap Core Fund	8.78%	7.08%	13.10%	15.17%	-12.58%	26.34%	14.55%	9.83%

Correlation

The correlation between IWR and TPLC is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since May 2, 2019	0.96

The correlation between IWR and TPLC has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

IWR vs. TPLC - Sectors Allocation Comparison

Sectors	IWR	TPLC
Industrials	18.4%	23.2%
Technology	17.2%	16.7%
Financial Services	12.5%	11.8%
Consumer Cyclical	11.2%	9.0%
Healthcare	8.7%	9.3%
Energy	7.2%	8.2%
Real Estate	7.0%	0.3%
Utilities	6.1%	11.6%
Basic Materials	4.3%	5.9%
Consumer Defensive	4.1%	3.8%
Communication Services	3.4%	0.2%

Return for Risk

IWR vs. TPLC — Risk / Return Rank

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

IWR

IWR Risk / Return Rank: 53
IWR Sharpe Ratio Rank: 50
IWR Sortino Ratio Rank: 51
IWR Omega Ratio Rank: 48
IWR Calmar Ratio Rank: 57
IWR Martin Ratio Rank: 61

TPLC

TPLC Risk / Return Rank: 32
TPLC Sharpe Ratio Rank: 31
TPLC Sortino Ratio Rank: 30
TPLC Omega Ratio Rank: 28
TPLC Calmar Ratio Rank: 34
TPLC Martin Ratio Rank: 38

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. TPLC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell Midcap ETF (IWR) and Timothy Plan Fund Timothy Plan US Large/Mid Cap Core Fund (TPLC). 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.

	IWR	TPLC	Difference
Sharpe ratio: Return per unit of total volatility	1.69	1.10	+0.59
Sortino ratio: Return per unit of downside risk	2.44	1.65	+0.79
Omega ratio: Gain probability vs. loss probability	1.30	1.19	+0.10
Calmar ratio: Return relative to maximum drawdown	2.77	1.67	+1.11
Martin ratio: Return relative to average drawdown	10.70	5.94	+4.76
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. TPLC - Sharpe Ratio Comparison

The current IWR Sharpe Ratio is 1.69, which is higher than the TPLC Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of IWR and TPLC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IWR	TPLC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.69	1.10	+0.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	0.51	-0.07
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	0.56	-0.06

Drawdowns

IWR vs. TPLC - Drawdown Comparison

The maximum IWR drawdown since its inception was -58.78%, which is greater than TPLC's maximum drawdown of -38.02%. Use the drawdown chart below to compare losses from any high point for IWR and TPLC.

Drawdown Indicators

	IWR	TPLC	Difference
Max Drawdown Largest peak-to-trough decline	-58.78%	-38.02%	-20.76%
Max Drawdown (1Y) Largest decline over 1 year	-8.17%	-7.58%	-0.59%
Max Drawdown (3Y) Largest decline over 3 years	-21.09%	-18.18%	-2.91%
Max Drawdown (5Y) Largest decline over 5 years	-26.18%	-21.63%	-4.55%
Max Drawdown (10Y) Largest decline over 10 years	-40.59%	—	—
Current Drawdown Current decline from peak	0.00%	-0.12%	+0.12%
Average Drawdown Average peak-to-trough decline	-7.80%	-5.29%	-2.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.11%	2.13%	-0.02%

Volatility

IWR vs. TPLC - Volatility Comparison

iShares Russell Midcap ETF (IWR) has a higher volatility of 3.16% compared to Timothy Plan Fund Timothy Plan US Large/Mid Cap Core Fund (TPLC) at 2.70%. This indicates that IWR's price experiences larger fluctuations and is considered to be riskier than TPLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWR	TPLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.16%	2.70%	+0.46%
Volatility (6M) Calculated over the trailing 6-month period	9.84%	8.45%	+1.39%
Volatility (1Y) Calculated over the trailing 1-year period	13.36%	11.50%	+1.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.22%	16.14%	+2.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.36%	19.89%	-0.53%

IWR vs. TPLC - Expense Ratio Comparison

IWR has a 0.19% expense ratio, which is lower than TPLC's 0.52% expense ratio.

Dividends

IWR vs. TPLC - Dividend Comparison

IWR's dividend yield for the trailing twelve months is around 1.14%, more than TPLC's 0.84% yield.

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%
TPLC Timothy Plan Fund Timothy Plan US Large/Mid Cap Core Fund	0.84%	0.89%	0.88%	0.89%	1.06%	0.61%	0.81%	0.67%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IWR and TPLC in my portfolio?

With a correlation of 0.95, IWR and TPLC 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.

Which is riskier, IWR or TPLC?

IWR has higher volatility (3.16%) compared to TPLC (2.70%). In terms of maximum drawdown, IWR dropped -58.78% vs TPLC's -38.02%.

Which ETF is better, IWR or TPLC?

On 5-year performance, TPLC leads with 8.22% vs 8.11% for IWR. On fees, IWR is cheaper at 0.19% per year. On volatility, TPLC has been the lower-risk option at 2.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IWR or TPLC?

Over the 5-year period, TPLC has performed better with a 8.22% return vs 8.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IWR or TPLC?

IWR is cheaper with a 0.19% expense ratio, compared with 0.52% for TPLC.

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

IWR has the higher dividend yield at 1.14%, compared with 0.84% for TPLC.

What is the main difference between IWR and TPLC?

IWR tracks Russell Midcap Index, while TPLC tracks Victory U.S. Large Cap Volatility Weighted BRI Index. They also come from different issuers: iShares and Timothy Plan. Their fees differ too: 0.19% for IWR and 0.52% for TPLC.

Which has better risk-adjusted returns?

IWR currently has the higher Sharpe Ratio (1.69 vs 1.10), 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.