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IWR vs. VOO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IWR vs. VOO

Last updated Jun 18, 2026

IWR (iShares Russell Midcap ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - IWR is a Mid Cap Growth Equities fund tracking the Russell Midcap Index, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, IWR returned 11.68%/yr vs 15.55%/yr for VOO. Their correlation of 0.92 suggests significant overlap in exposure. IWR charges 0.19%/yr vs 0.03%/yr for VOO.

Performance

IWR vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell Midcap ETF (IWR) and Vanguard S&P 500 ETF (VOO). 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 12.28% return, which is significantly higher than VOO's 10.07% return. Over the past 10 years, IWR has underperformed VOO with an annualized return of 11.68%, while VOO has yielded a comparatively higher 15.55% annualized return.

IWR

1D
-1.30%
1M
3.98%
YTD
12.28%
6M
12.44%
1Y
22.15%
3Y*
15.85%
5Y*
8.48%
10Y*
11.68%

VOO

1D
0.98%
1M
2.00%
YTD
10.07%
6M
11.29%
1Y
26.79%
3Y*
20.91%
5Y*
14.06%
10Y*
15.55%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IWR vs. VOO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IWR
iShares Russell Midcap ETF		12.28%10.37%15.21%17.05%-17.48%22.44%16.93%30.23%-9.10%18.25%
VOO
Vanguard S&P 500 ETF		10.07%17.82%24.98%26.32%-18.17%28.79%18.32%31.37%-4.50%21.77%

Correlation

The correlation between IWR and VOO is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.77

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

0.82

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

0.88

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

0.90

Correlation (All Time)
Calculated using the full available price history since Sep 9, 2010

0.92

The correlation between IWR and VOO shifts across timeframes, from 0.77 (1 year) to 0.92 (all time), reflecting how their relationship changes across market environments.

IWR vs. VOO - Sectors Allocation Comparison

Sectors
IWR
VOO

Technology

19.6%
35.6%

Industrials

18.1%
8.0%

Financial Services

12.1%
11.6%

Consumer Cyclical

11.1%
10.1%

Healthcare

8.7%
8.5%

Real Estate

6.8%
1.9%

Energy

6.5%
3.5%

Utilities

5.7%
2.8%

Basic Materials

4.2%
1.8%

Consumer Defensive

3.9%
4.9%

Communication Services

3.3%
11.1%

Technology

IWR
19.6%
VOO
35.6%

Industrials

IWR
18.1%
VOO
8.0%

Financial Services

IWR
12.1%
VOO
11.6%

Consumer Cyclical

IWR
11.1%
VOO
10.1%

Healthcare

IWR
8.7%
VOO
8.5%

Real Estate

IWR
6.8%
VOO
1.9%

Energy

IWR
6.5%
VOO
3.5%

Utilities

IWR
5.7%
VOO
2.8%

Basic Materials

IWR
4.2%
VOO
1.8%

Consumer Defensive

IWR
3.9%
VOO
4.9%

Communication Services

IWR
3.3%
VOO
11.1%

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

Vanguard S&P 500 ETF

Often compared with IWR:
IWR vs. VOIWR vs. IWDIWR vs. SPMDIWR vs. IWNIWR vs. SCHMIWR vs. VXFIWR vs. REGL
Often compared with VOO:
VOO vs. VTIVOO vs. QQQVOO vs. SCHDVOO vs. VTVOO vs. SPYVOO vs. FXAIXVOO vs. IVV

Return for Risk

IWR vs. VOO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IWR
IWR Risk / Return Rank: 5353
Overall Rank
IWR Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
IWR Sortino Ratio Rank: 5050
Sortino Ratio Rank
IWR Omega Ratio Rank: 4646
Omega Ratio Rank
IWR Calmar Ratio Rank: 5858
Calmar Ratio Rank
IWR Martin Ratio Rank: 6262
Martin Ratio Rank
VOO
VOO Risk / Return Rank: 7272
Overall Rank
VOO Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
VOO Sortino Ratio Rank: 7070
Sortino Ratio Rank
VOO Omega Ratio Rank: 7272
Omega Ratio Rank
VOO Calmar Ratio Rank: 6565
Calmar Ratio Rank
VOO Martin Ratio Rank: 7777
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. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell Midcap ETF (IWR) and Vanguard S&P 500 ETF (VOO). 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.

IWRVOODifference
Sharpe ratioReturn per unit of total volatility
1.62
2.18

-0.56

Sortino ratioReturn per unit of downside risk
2.32
2.93

-0.61

Omega ratioGain probability vs. loss probability

1.28

1.39

-0.11

Calmar ratioReturn relative to maximum drawdown

2.72

3.02

-0.30

Martin ratioReturn relative to average drawdown

10.43

13.61

-3.18

IWR vs. VOO - Sharpe Ratio Comparison

The current IWR Sharpe Ratio is 1.62, which is comparable to the VOO Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of IWR and VOO, 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. VOO - Drawdown Comparison

The maximum IWR drawdown since its inception was -58.78%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for IWR and VOO.

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Drawdown Indicators

IWRVOODifference

Max Drawdown

Largest peak-to-trough decline

-58.78%

-33.99%

-24.79%

Max Drawdown (1Y)

Largest decline over 1 year

-8.17%

-8.90%

+0.73%

Max Drawdown (3Y)

Largest decline over 3 years

-21.09%

-18.69%

-2.40%

Max Drawdown (5Y)

Largest decline over 5 years

-26.18%

-24.52%

-1.66%

Max Drawdown (10Y)

Largest decline over 10 years

-40.59%

-33.99%

-6.60%

Current Drawdown

Current decline from peak

-1.75%

-1.45%

-0.30%

Average Drawdown

Average peak-to-trough decline

-7.79%

-3.68%

-4.11%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.13%

1.97%

+0.16%

Volatility

IWR vs. VOO - Volatility Comparison

iShares Russell Midcap ETF (IWR) and Vanguard S&P 500 ETF (VOO) have volatilities of 4.56% and 4.69%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IWRVOODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.56%

4.69%

-0.13%

Volatility (6M)

Calculated over the trailing 6-month period

10.38%

9.79%

+0.59%

Volatility (1Y)

Calculated over the trailing 1-year period

13.78%

12.37%

+1.41%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.30%

16.90%

+1.40%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.39%

18.05%

+1.34%

IWR vs. VOO - Expense Ratio Comparison

IWR has a 0.19% expense ratio, which is higher than VOO's 0.03% 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. VOO - Dividend Comparison

IWR's dividend yield for the trailing twelve months is around 1.18%, more than VOO's 1.04% yield.

PositionTTM20252024202320222021202020192018201720162015
IWR
iShares Russell Midcap ETF		1.18%1.29%1.27%1.43%1.59%1.04%1.28%1.43%1.98%1.52%1.72%1.59%
VOO
Vanguard S&P 500 ETF		1.04%1.13%1.24%1.46%1.69%1.25%1.54%1.88%2.06%1.78%2.02%2.10%

Frequently Asked Questions

IWR and VOO have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VOO has higher volatility (4.69%) compared to IWR (4.56%). In terms of maximum drawdown, IWR dropped -58.78% vs VOO's -33.99%.

On 10-year performance, VOO leads with 15.55% vs 11.68% for IWR. On fees, VOO is cheaper at 0.03% per year. On volatility, IWR has been the lower-risk option at 4.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, VOO has performed better with a 15.55% return vs 11.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VOO is cheaper with a 0.03% expense ratio, compared with 0.19% for IWR.

IWR has the higher dividend yield at 1.18%, compared with 1.04% for VOO.

IWR is categorized as Mid Cap Growth Equities, while VOO is S&P 500. IWR tracks Russell Midcap Index, while VOO tracks S&P 500 Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.19% for IWR and 0.03% for VOO.

VOO currently has the higher Sharpe Ratio (2.18 vs 1.62), 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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