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IWS vs. IVOV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IWS vs. IVOV

Last updated Jul 17, 2026
Documentation

IWS (iShares Russell Mid-Cap Value ETF) and IVOV (Vanguard S&P Mid-Cap 400 Value ETF) are both Mid Cap Value Equities funds - IWS tracks the Russell Midcap Value Index while IVOV tracks the S&P MidCap 400 Value Index. Both are passively managed. Over the past 10 years, IWS returned 10.22%/yr vs 10.57%/yr for IVOV. Their correlation of 0.91 suggests significant overlap in exposure. IWS charges 0.23%/yr vs 0.10%/yr for IVOV.

Performance

IWS vs. IVOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell Mid-Cap Value ETF (IWS) and Vanguard S&P Mid-Cap 400 Value ETF (IVOV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IWS achieves a 19.27% return, which is significantly higher than IVOV's 14.11% return. Both investments have delivered pretty close results over the past 10 years, with IWS having a 10.22% annualized return and IVOV not far ahead at 10.57%.

IWS

1D
1.13%
1M
2.13%
6M
13.10%
YTD
19.27%
1Y
26.94%
3Y*
15.91%
5Y*
10.00%
10Y*
10.22%

IVOV

1D
1.34%
1M
2.00%
6M
7.79%
YTD
14.11%
1Y
20.78%
3Y*
12.83%
5Y*
9.95%
10Y*
10.57%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IWS vs. IVOV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IWS
iShares Russell Mid-Cap Value ETF		19.27%10.82%12.91%12.52%-12.29%28.10%4.83%26.73%-12.43%13.14%
IVOV
Vanguard S&P Mid-Cap 400 Value ETF		14.11%7.61%11.53%15.38%-7.20%30.50%3.70%25.91%-12.13%12.22%

Correlation

The correlation between IWS and IVOV 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 (3Y)
Calculated over the trailing 3-year period

0.95

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

0.96

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

0.96

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

0.91

The correlation between IWS and IVOV has been stable across timeframes, ranging from 0.91 to 0.96 - a consistent structural relationship.

IWS vs. IVOV - Sectors Allocation Comparison

Sectors
IWS
IVOV

Technology

18.7%
10.0%

Industrials

16.2%
17.1%

Financial Services

13.7%
21.0%

Consumer Cyclical

8.5%
13.7%

Real Estate

8.3%
9.5%

Healthcare

7.6%
3.8%

Energy

7.4%
7.3%

Utilities

6.6%
4.0%

Basic Materials

5.3%
7.9%

Consumer Defensive

4.7%
4.9%

Communication Services

3.1%
0.5%

Technology

IWS
18.7%
IVOV
10.0%

Industrials

IWS
16.2%
IVOV
17.1%

Financial Services

IWS
13.7%
IVOV
21.0%

Consumer Cyclical

IWS
8.5%
IVOV
13.7%

Real Estate

IWS
8.3%
IVOV
9.5%

Healthcare

IWS
7.6%
IVOV
3.8%

Energy

IWS
7.4%
IVOV
7.3%

Utilities

IWS
6.6%
IVOV
4.0%

Basic Materials

IWS
5.3%
IVOV
7.9%

Consumer Defensive

IWS
4.7%
IVOV
4.9%

Communication Services

IWS
3.1%
IVOV
0.5%

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 Mid-Cap Value ETF

Vanguard S&P Mid-Cap 400 Value ETF

Often compared with IWS:
IWS vs. IWPIWS vs. IWNIWS vs. IMCVIWS vs. IWDIWS vs. FIMVXIWS vs. IVVIWS vs. VBR
Often compared with IVOV:
IVOV vs. VOEIVOV vs. IVOGIVOV vs. VOIVOV vs. MDYVIVOV vs. VIOVIVOV vs. MDYGIVOV vs. VBR

Return for Risk

IWS vs. IVOV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IWS
IWS Risk / Return Rank: 8181
Overall Rank
IWS Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
IWS Sortino Ratio Rank: 8181
Sortino Ratio Rank
IWS Omega Ratio Rank: 7575
Omega Ratio Rank
IWS Calmar Ratio Rank: 8383
Calmar Ratio Rank
IWS Martin Ratio Rank: 8585
Martin Ratio Rank
IVOV
IVOV Risk / Return Rank: 4949
Overall Rank
IVOV Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
IVOV Sortino Ratio Rank: 5454
Sortino Ratio Rank
IVOV Omega Ratio Rank: 4747
Omega Ratio Rank
IVOV Calmar Ratio Rank: 4848
Calmar Ratio Rank
IVOV Martin Ratio Rank: 5050
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.

IWS vs. IVOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell Mid-Cap Value ETF (IWS) and Vanguard S&P Mid-Cap 400 Value ETF (IVOV). 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.

IWSIVOVDifference
Sharpe ratioReturn per unit of total volatility
2.01
1.39

+0.62

Sortino ratioReturn per unit of downside risk
2.89
2.12

+0.77

Omega ratioGain probability vs. loss probability

1.35

1.25

+0.11

Calmar ratioReturn relative to maximum drawdown

3.59

1.97

+1.62

Martin ratioReturn relative to average drawdown

13.50

6.81

+6.70

IWS vs. IVOV - Sharpe Ratio Comparison

The current IWS Sharpe Ratio is 2.01, which is higher than the IVOV Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of IWS and IVOV, 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

IWS vs. IVOV - Drawdown Comparison

The maximum IWS drawdown since its inception was -62.40%, which is greater than IVOV's maximum drawdown of -45.99%. Use the drawdown chart below to compare losses from any high point for IWS and IVOV.

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Drawdown Indicators

IWSIVOVDifference

Max Drawdown

Largest peak-to-trough decline

-62.40%

-45.99%

-16.41%

Max Drawdown (1Y)

Largest decline over 1 year

-7.53%

-10.58%

+3.05%

Max Drawdown (3Y)

Largest decline over 3 years

-20.57%

-22.61%

+2.04%

Max Drawdown (5Y)

Largest decline over 5 years

-21.23%

-22.61%

+1.38%

Max Drawdown (10Y)

Largest decline over 10 years

-43.83%

-45.99%

+2.16%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-7.98%

-5.39%

-2.59%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.00%

3.06%

-1.06%

Volatility

IWS vs. IVOV - Volatility Comparison

iShares Russell Mid-Cap Value ETF (IWS) has a higher volatility of 3.57% compared to Vanguard S&P Mid-Cap 400 Value ETF (IVOV) at 3.28%. This indicates that IWS's price experiences larger fluctuations and is considered to be riskier than IVOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IWSIVOVDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.57%

3.28%

+0.29%

Volatility (6M)

Calculated over the trailing 6-month period

10.07%

10.55%

-0.48%

Volatility (1Y)

Calculated over the trailing 1-year period

13.50%

15.04%

-1.54%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.31%

19.35%

-2.04%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.30%

21.64%

-2.34%

IWS vs. IVOV - Expense Ratio Comparison

IWS has a 0.23% expense ratio, which is higher than IVOV's 0.10% 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

IWS vs. IVOV - Dividend Comparison

IWS's dividend yield for the trailing twelve months is around 1.30%, less than IVOV's 1.60% yield.

PositionTTM20252024202320222021202020192018201720162015
IVOV
Vanguard S&P Mid-Cap 400 Value ETF		1.60%1.82%1.74%1.52%1.97%1.78%2.42%1.75%1.87%1.55%1.51%1.66%
IWS
iShares Russell Mid-Cap Value ETF		1.30%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

With a correlation of 0.93, IWS and IVOV 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.

IWS has higher volatility (3.57%) compared to IVOV (3.28%). In terms of maximum drawdown, IWS dropped -62.40% vs IVOV's -45.99%.

On 10-year performance, IVOV leads with 10.57% vs 10.22% for IWS. On fees, IVOV is cheaper at 0.10% per year. On volatility, IVOV has been the lower-risk option at 3.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IVOV has performed better with a 10.57% return vs 10.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IVOV is cheaper with a 0.10% expense ratio, compared with 0.23% for IWS.

IVOV has the higher dividend yield at 1.60%, compared with 1.30% for IWS.

IWS tracks Russell Midcap Value Index, while IVOV tracks S&P MidCap 400 Value Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.23% for IWS and 0.10% for IVOV.

IWS currently has the higher Sharpe Ratio (2.01 vs 1.39), 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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