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IWR vs. USMF
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IWR vs. USMF

Last updated Aug 2, 2026
Documentation

IWR (iShares Russell Midcap ETF) and USMF (WisdomTree US Multifactor Fund) are both Mid Cap Blend Equities funds - IWR tracks the Russell Midcap Index while USMF tracks the WisdomTree US Multifactor Index. Both are passively managed. Over the past 5 years, IWR returned 8.04%/yr vs 7.39%/yr for USMF. Their correlation of 0.90 means they have usually moved in the same direction. IWR charges 0.19%/yr vs 0.28%/yr for USMF.

Performance

IWR vs. USMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell Midcap ETF (IWR) and WisdomTree US Multifactor Fund (USMF). 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 14.55% return, which is significantly higher than USMF's 3.98% return.

IWR

1D
-0.28%
1M
-0.59%
6M
11.19%
YTD
14.55%
1Y
20.25%
3Y*
14.75%
5Y*
8.04%
10Y*
11.43%
ALL TIME*
9.95%

USMF

1D
0.14%
1M
0.09%
6M
3.76%
YTD
3.98%
1Y
6.68%
3Y*
11.64%
5Y*
7.39%
10Y*
—
ALL TIME*
10.32%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

IWR

iShares Russell Midcap ETF
$186.41M$266.84M$222.00M

USMF

WisdomTree US Multifactor Fund
$1.11M$1.03M$1.79M

IWR vs. USMF - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IWR
iShares Russell Midcap ETF		14.55%10.37%15.21%17.05%-17.48%22.44%16.93%30.23%-9.10%10.44%
USMF
WisdomTree US Multifactor Fund		3.98%4.60%19.65%13.47%-8.82%21.26%12.01%24.06%-4.72%11.27%

Correlation

The correlation between IWR and USMF is 0.81, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.81

Correlation (3Y)
Balances recent behavior with more history.

0.87

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.90

Correlation (All Time)
Calculated using the full available price history since Aug 24, 2017

0.90

The correlation between IWR and USMF has been stable across timeframes, ranging from 0.81 to 0.90 - a consistent structural relationship.

IWR vs. USMF - Sectors Allocation Comparison

Sectors
IWR
USMF

Technology

18.3%
35.6%

Industrials

17.2%
9.9%

Financial Services

12.6%
11.4%

Healthcare

10.9%
9.7%

Consumer Cyclical

10.2%
10.4%

Real Estate

6.9%
2.0%

Utilities

6.0%
2.1%

Energy

5.8%
2.7%

Consumer Defensive

4.5%
4.5%

Basic Materials

4.2%
1.4%

Communication Services

3.5%
10.3%

Technology

IWR
18.3%
USMF
35.6%

Industrials

IWR
17.2%
USMF
9.9%

Financial Services

IWR
12.6%
USMF
11.4%

Healthcare

IWR
10.9%
USMF
9.7%

Consumer Cyclical

IWR
10.2%
USMF
10.4%

Real Estate

IWR
6.9%
USMF
2.0%

Utilities

IWR
6.0%
USMF
2.1%

Energy

IWR
5.8%
USMF
2.7%

Consumer Defensive

IWR
4.5%
USMF
4.5%

Basic Materials

IWR
4.2%
USMF
1.4%

Communication Services

IWR
3.5%
USMF
10.3%

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

WisdomTree US Multifactor Fund

Often compared with IWR:
IWR vs. VOIWR vs. IWDIWR vs. SPMDIWR vs. IWNIWR vs. SCHMIWR vs. VXFIWR vs. REGL
Often compared with USMF:
USMF vs. DYNFUSMF vs. VFMFUSMF vs. SCHMUSMF vs. SFLRUSMF vs. SPMOUSMF vs. SPYUSMF vs. VO

Return for Risk

IWR vs. USMF — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
IWR
IWR Risk / Return Rank: 6262
Overall Rank
IWR Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
IWR Sortino Ratio Rank: 5959
Sortino Ratio Rank
IWR Omega Ratio Rank: 5555
Omega Ratio Rank
IWR Calmar Ratio Rank: 6666
Calmar Ratio Rank
IWR Martin Ratio Rank: 7272
Martin Ratio Rank
USMF
USMF Risk / Return Rank: 2626
Overall Rank
USMF Sharpe Ratio Rank: 2323
Sharpe Ratio Rank
USMF Sortino Ratio Rank: 2323
Sortino Ratio Rank
USMF Omega Ratio Rank: 2222
Omega Ratio Rank
USMF Calmar Ratio Rank: 2929
Calmar Ratio Rank
USMF Martin Ratio Rank: 3232
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IWR vs. USMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell Midcap ETF (IWR) and WisdomTree US Multifactor Fund (USMF). 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.

IWRUSMFDifference
Sharpe ratioReturn per unit of total volatility
1.37
0.53

+0.84

Sortino ratioReturn per unit of downside risk
2.00
0.83

+1.17

Omega ratioGain probability vs. loss probability

1.24

1.10

+0.15

Calmar ratioReturn relative to maximum drawdown

2.28

0.95

+1.34

Martin ratioReturn relative to average drawdown

8.85

2.89

+5.96

IWR vs. USMF - Sharpe Ratio Comparison

The current IWR Sharpe Ratio is 1.37, which is higher than the USMF Sharpe Ratio of 0.53. The chart below compares the historical Sharpe Ratios of IWR and USMF, 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. USMF - Drawdown Comparison

The maximum IWR drawdown since its inception was -58.78%, which is greater than USMF's maximum drawdown of -36.24%. Use the drawdown chart below to compare losses from any high point for IWR and USMF.

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Drawdown Indicators

IWRUSMFDifference

Max Drawdown

Largest peak-to-trough decline

-58.78%

-36.24%

-22.54%

Max Drawdown (1Y)

Largest decline over 1 year

-8.17%

-6.47%

-1.70%

Max Drawdown (3Y)

Largest decline over 3 years

-21.09%

-15.39%

-5.70%

Max Drawdown (5Y)

Largest decline over 5 years

-26.18%

-18.10%

-8.08%

Max Drawdown (10Y)

Largest decline over 10 years

-40.59%

—

—

Current Drawdown

Current decline from peak

-0.93%

-2.50%

+1.57%

Average Drawdown

Average peak-to-trough decline

-7.76%

-4.12%

-3.64%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.10%

2.11%

-0.01%

Volatility

IWR vs. USMF - Volatility Comparison

The current volatility for iShares Russell Midcap ETF (IWR) is 2.48%, while WisdomTree US Multifactor Fund (USMF) has a volatility of 3.96%. This indicates that IWR experiences smaller price fluctuations and is considered to be less risky than USMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IWRUSMFDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.48%

3.96%

-1.48%

Volatility (6M)

Calculated over the trailing 6-month period

10.17%

9.25%

+0.92%

Volatility (1Y)

Calculated over the trailing 1-year period

13.67%

11.66%

+2.01%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.22%

14.40%

+3.82%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.31%

16.95%

+2.36%

IWR vs. USMF - Expense Ratio Comparison

IWR has a 0.19% expense ratio, which is lower than USMF's 0.28% expense ratio.

Dividends

IWR vs. USMF - Dividend Comparison

IWR's dividend yield for the trailing twelve months is around 1.16%, less than USMF's 1.32% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
USMF
WisdomTree US Multifactor Fund		1.32%1.37%1.22%1.33%1.74%1.42%1.34%1.38%1.45%0.67%0.00%0.00%

Frequently Asked Questions

IWR and USMF have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

USMF has higher volatility (3.96%) compared to IWR (2.48%). In terms of maximum drawdown, IWR dropped -58.78% vs USMF's -36.24%.

On 5-year performance, IWR leads with 8.04% vs 7.39% for USMF. On fees, IWR is cheaper at 0.19% per year. On volatility, IWR has been the lower-risk option at 2.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, IWR has performed better with a 8.04% return vs 7.39%. 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 0.28% for USMF.

USMF has the higher dividend yield at 1.32%, compared with 1.16% for IWR.

IWR tracks Russell Midcap Index, while USMF tracks WisdomTree US Multifactor Index. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.19% for IWR and 0.28% for USMF.

IWR currently has the higher Sharpe Ratio (1.36 vs 0.53), 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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