IWS vs. EPMV

Last updated Jun 4, 2026

IWS (iShares Russell Mid-Cap Value ETF) and EPMV (Harbor Mid Cap Value ETF) are both Mid Cap Value Equities funds. IWS is passively managed, while EPMV is actively managed. Over the past year, IWS returned 27.01% vs 31.44% for EPMV. Their correlation of 0.94 suggests significant overlap in exposure. IWS charges 0.23%/yr vs 0.88%/yr for EPMV.

Performance

IWS vs. EPMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell Mid-Cap Value ETF (IWS) and Harbor Mid Cap Value ETF (EPMV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IWS achieves a 15.06% return, which is significantly lower than EPMV's 18.27% return.

IWS

• 1D: -0.04%
• 1M: 3.74%
• YTD: 15.06%
• 6M: 15.13%
• 1Y: 27.01%
• 3Y*: 17.40%
• 5Y*: 8.37%
• 10Y*: 10.23%

EPMV

• 1D: 1.62%
• 1M: 6.13%
• YTD: 18.27%
• 6M: 20.75%
• 1Y: 31.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IWS vs. EPMV - Yearly Performance Comparison

	2026 (YTD)	2025
IWS iShares Russell Mid-Cap Value ETF	15.06%	14.25%
EPMV Harbor Mid Cap Value ETF	18.27%	13.68%

Correlation

The correlation between IWS and EPMV is 0.93, 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	0.93
Correlation (All Time) Calculated using the full available price history since May 5, 2025	0.94

The correlation between IWS and EPMV has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.

IWS vs. EPMV - Sectors Allocation Comparison

Sectors	IWS	EPMV
Industrials	16.7%	21.7%
Technology	16.5%	18.7%
Financial Services	14.1%	18.1%
Real Estate	8.6%	6.4%
Consumer Cyclical	8.4%	12.2%
Energy	8.1%	5.0%
Healthcare	7.3%	6.7%
Utilities	7.0%	3.0%
Basic Materials	5.4%	6.7%
Consumer Defensive	4.8%	1.4%
Communication Services	3.1%	-

Return for Risk

IWS vs. EPMV — Risk / Return Rank

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

IWS

IWS Risk / Return Rank: 65
IWS Sharpe Ratio Rank: 60
IWS Sortino Ratio Rank: 62
IWS Omega Ratio Rank: 58
IWS Calmar Ratio Rank: 72
IWS Martin Ratio Rank: 72

EPMV

EPMV Risk / Return Rank: 63
EPMV Sharpe Ratio Rank: 60
EPMV Sortino Ratio Rank: 64
EPMV Omega Ratio Rank: 58
EPMV Calmar Ratio Rank: 70
EPMV Martin Ratio Rank: 64

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.

IWS vs. EPMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell Mid-Cap Value ETF (IWS) and Harbor Mid Cap Value ETF (EPMV). 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.

	IWS	EPMV	Difference
Sharpe ratio Return per unit of total volatility	2.06	2.08	-0.02
Sortino ratio Return per unit of downside risk	2.95	3.04	-0.10
Omega ratio Gain probability vs. loss probability	1.36	1.37	-0.01
Calmar ratio Return relative to maximum drawdown	3.60	3.55	+0.05
Martin ratio Return relative to average drawdown	13.59	11.73	+1.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IWS vs. EPMV - Sharpe Ratio Comparison

The current IWS Sharpe Ratio is 2.06, which is comparable to the EPMV Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of IWS and EPMV, 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

	IWS	EPMV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	2.08	-0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.49	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	2.05	-1.63

Drawdowns

IWS vs. EPMV - Drawdown Comparison

The maximum IWS drawdown since its inception was -62.40%, which is greater than EPMV's maximum drawdown of -8.78%. Use the drawdown chart below to compare losses from any high point for IWS and EPMV.

Drawdown Indicators

	IWS	EPMV	Difference
Max Drawdown Largest peak-to-trough decline	-62.40%	-8.78%	-53.62%
Max Drawdown (1Y) Largest decline over 1 year	-7.53%	-8.78%	+1.25%
Max Drawdown (3Y) Largest decline over 3 years	-20.57%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.23%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-43.83%	—	—
Current Drawdown Current decline from peak	-0.04%	0.00%	-0.04%
Average Drawdown Average peak-to-trough decline	-8.02%	-1.79%	-6.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	2.66%	-0.67%

Volatility

IWS vs. EPMV - Volatility Comparison

The current volatility for iShares Russell Mid-Cap Value ETF (IWS) is 3.40%, while Harbor Mid Cap Value ETF (EPMV) has a volatility of 5.35%. This indicates that IWS experiences smaller price fluctuations and is considered to be less risky than EPMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWS	EPMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.40%	5.35%	-1.95%
Volatility (6M) Calculated over the trailing 6-month period	9.57%	11.35%	-1.78%
Volatility (1Y) Calculated over the trailing 1-year period	13.19%	15.19%	-2.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.30%	15.51%	+1.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.36%	15.51%	+3.85%

IWS vs. EPMV - Expense Ratio Comparison

IWS has a 0.23% expense ratio, which is lower than EPMV's 0.88% expense ratio.

Dividends

IWS vs. EPMV - Dividend Comparison

IWS's dividend yield for the trailing twelve months is around 1.34%, more than EPMV's 1.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EPMV Harbor Mid Cap Value ETF	1.25%	1.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IWS iShares Russell Mid-Cap Value ETF	1.34%	1.53%	1.50%	1.76%	1.93%	1.39%	1.87%	1.97%	2.53%	1.96%	2.10%	2.14%

Frequently Asked Questions

Can I hold both IWS and EPMV in my portfolio?

With a correlation of 0.93, IWS and EPMV 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, IWS or EPMV?

EPMV has higher volatility (5.35%) compared to IWS (3.40%). In terms of maximum drawdown, IWS dropped -62.40% vs EPMV's -8.78%.

Which ETF is better, IWS or EPMV?

On 1-year performance, EPMV leads with 31.44% vs 27.01% for IWS. On fees, IWS is cheaper at 0.23% per year. On volatility, IWS has been the lower-risk option at 3.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IWS or EPMV?

Over the 1-year period, EPMV has performed better with a 31.44% return vs 27.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IWS or EPMV?

IWS is cheaper with a 0.23% expense ratio, compared with 0.88% for EPMV.

Which ETF pays a higher dividend yield, IWS or EPMV?

IWS has the higher dividend yield at 1.34%, compared with 1.25% for EPMV.

What is the main difference between IWS and EPMV?

They also come from different issuers: iShares and Harbor. Their fees differ too: 0.23% for IWS and 0.88% for EPMV.

Which has better risk-adjusted returns?

EPMV currently has the higher Sharpe Ratio (2.08 vs 2.06), 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.