IWR vs. VDADX

Last updated Jun 9, 2026

IWR (iShares Russell Midcap ETF) and VDADX (Vanguard Dividend Appreciation Index Fund Admiral Shares) are both funds - IWR is a Mid Cap Growth Equities fund tracking the Russell Midcap Index, while VDADX is a Dividend fund tracking the S&P U.S. Dividend Growers Index. Both are passively managed. Over the past 10 years, IWR returned 11.41%/yr vs 13.05%/yr for VDADX. Their correlation of 0.89 suggests significant overlap in exposure. IWR charges 0.19%/yr vs 0.07%/yr for VDADX.

Performance

IWR vs. VDADX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell Midcap ETF (IWR) and Vanguard Dividend Appreciation Index Fund Admiral Shares (VDADX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IWR achieves a 10.71% return, which is significantly higher than VDADX's 6.53% return. Over the past 10 years, IWR has underperformed VDADX with an annualized return of 11.41%, while VDADX has yielded a comparatively higher 13.05% annualized return.

IWR

• 1D: 0.08%
• 1M: 1.05%
• YTD: 10.71%
• 6M: 10.50%
• 1Y: 19.23%
• 3Y*: 16.25%
• 5Y*: 7.68%
• 10Y*: 11.41%

VDADX

• 1D: -1.36%
• 1M: 2.28%
• YTD: 6.53%
• 6M: 6.41%
• 1Y: 18.22%
• 3Y*: 16.23%
• 5Y*: 10.38%
• 10Y*: 13.05%

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

IWR vs. VDADX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IWR iShares Russell Midcap ETF	10.71%	10.37%	15.21%	17.05%	-17.48%	22.44%	16.93%	30.23%	-9.10%	18.25%
VDADX Vanguard Dividend Appreciation Index Fund Admiral Shares	6.53%	14.17%	16.99%	14.44%	-9.80%	23.59%	15.47%	29.68%	-2.06%	22.22%

Correlation

The correlation between IWR and VDADX is 0.83, 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	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Dec 23, 2013	0.89

The correlation between IWR and VDADX has been stable across timeframes, ranging from 0.83 to 0.89 - a consistent structural relationship.

IWR vs. VDADX - Sectors Allocation Comparison

Sectors	IWR	VDADX
Industrials	18.4%	11.8%
Technology	17.2%	26.2%
Financial Services	12.5%	20.6%
Consumer Cyclical	11.2%	4.7%
Healthcare	8.7%	16.5%
Energy	7.2%	3.5%
Real Estate	7.0%	-
Utilities	6.1%	3.2%
Basic Materials	4.3%	3.5%
Consumer Defensive	4.1%	10.1%
Communication Services	3.4%	0.5%

Return for Risk

IWR vs. VDADX — Risk / Return Rank

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

IWR

IWR Risk / Return Rank: 49
IWR Sharpe Ratio Rank: 45
IWR Sortino Ratio Rank: 46
IWR Omega Ratio Rank: 43
IWR Calmar Ratio Rank: 53
IWR Martin Ratio Rank: 57

VDADX

VDADX Risk / Return Rank: 44
VDADX Sharpe Ratio Rank: 43
VDADX Sortino Ratio Rank: 44
VDADX Omega Ratio Rank: 41
VDADX Calmar Ratio Rank: 43
VDADX Martin Ratio Rank: 48

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. VDADX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell Midcap ETF (IWR) and Vanguard Dividend Appreciation Index Fund Admiral Shares (VDADX). 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	VDADX	Difference
Sharpe ratio: Return per unit of total volatility	1.43	1.87	-0.44
Sortino ratio: Return per unit of downside risk	2.07	2.71	-0.64
Omega ratio: Gain probability vs. loss probability	1.25	1.33	-0.08
Calmar ratio: Return relative to maximum drawdown	2.37	2.39	-0.03
Martin ratio: Return relative to average drawdown	9.09	9.65	-0.56
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. VDADX - Sharpe Ratio Comparison

The current IWR Sharpe Ratio is 1.43, which is comparable to the VDADX Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of IWR and VDADX, 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	VDADX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.43	1.87	-0.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	0.73	-0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	0.81	-0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.76	-0.27

Drawdowns

IWR vs. VDADX - Drawdown Comparison

The maximum IWR drawdown since its inception was -58.78%, which is greater than VDADX's maximum drawdown of -31.70%. Use the drawdown chart below to compare losses from any high point for IWR and VDADX.

Drawdown Indicators

	IWR	VDADX	Difference
Max Drawdown Largest peak-to-trough decline	-58.78%	-31.70%	-27.08%
Max Drawdown (1Y) Largest decline over 1 year	-8.17%	-7.93%	-0.24%
Max Drawdown (3Y) Largest decline over 3 years	-21.09%	-14.95%	-6.14%
Max Drawdown (5Y) Largest decline over 5 years	-26.18%	-20.42%	-5.76%
Max Drawdown (10Y) Largest decline over 10 years	-40.59%	-31.70%	-8.89%
Current Drawdown Current decline from peak	-2.04%	-1.36%	-0.68%
Average Drawdown Average peak-to-trough decline	-7.80%	-3.40%	-4.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.12%	1.96%	+0.16%

Volatility

IWR vs. VDADX - Volatility Comparison

iShares Russell Midcap ETF (IWR) has a higher volatility of 3.59% compared to Vanguard Dividend Appreciation Index Fund Admiral Shares (VDADX) at 2.55%. This indicates that IWR's price experiences larger fluctuations and is considered to be riskier than VDADX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWR	VDADX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.59%	2.55%	+1.04%
Volatility (6M) Calculated over the trailing 6-month period	10.06%	7.70%	+2.36%
Volatility (1Y) Calculated over the trailing 1-year period	13.54%	10.16%	+3.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.25%	14.28%	+3.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.38%	16.20%	+3.18%

IWR vs. VDADX - Expense Ratio Comparison

IWR has a 0.19% expense ratio, which is higher than VDADX's 0.07% 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. VDADX - Dividend Comparison

IWR's dividend yield for the trailing twelve months is around 1.17%, less than VDADX's 1.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IWR iShares Russell Midcap ETF	1.17%	1.29%	1.27%	1.43%	1.59%	1.04%	1.28%	1.43%	1.98%	1.52%	1.72%	1.59%
VDADX Vanguard Dividend Appreciation Index Fund Admiral Shares	1.46%	1.60%	1.71%	1.86%	1.94%	1.53%	1.61%	1.69%	2.07%	1.88%	2.14%	2.34%

Frequently Asked Questions

Can I hold both IWR and VDADX in my portfolio?

IWR and VDADX have a correlation of 0.83, 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 VDADX?

IWR has higher volatility (3.59%) compared to VDADX (2.55%). In terms of maximum drawdown, IWR dropped -58.78% vs VDADX's -31.70%.

Which has better risk-adjusted returns?

VDADX currently has the higher Sharpe Ratio (1.87 vs 1.43), 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.