IWS vs. IWMY
IWS (iShares Russell Mid-Cap Value ETF) and IWMY (Defiance R2000 Enhanced Options & 0DTE Income ETF) are both exchange-traded funds - IWS is a Mid Cap Value Equities fund tracking the Russell Midcap Value Index, while IWMY is a Options Trading fund tracking the Russell 2000 Index. Both are passively managed. Over the past year, IWS returned 24.70% vs 19.66% for IWMY. Their correlation of 0.84 suggests significant overlap in exposure. IWS charges 0.23%/yr vs 0.99%/yr for IWMY.
Performance
IWS vs. IWMY - Performance Comparison
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Returns By Period
In the year-to-date period, IWS achieves a 13.43% return, which is significantly higher than IWMY's 10.55% return.
IWS
- 1D
- 0.04%
- 1M
- 1.01%
- YTD
- 13.43%
- 6M
- 13.77%
- 1Y
- 24.70%
- 3Y*
- 16.23%
- 5Y*
- 8.15%
- 10Y*
- 10.08%
IWMY
- 1D
- 0.63%
- 1M
- -0.57%
- YTD
- 10.55%
- 6M
- 8.47%
- 1Y
- 19.66%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IWS vs. IWMY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IWS iShares Russell Mid-Cap Value ETF | 13.43% | 10.82% | 12.91% | 18.96% |
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF | 10.55% | 10.18% | 5.56% | 10.06% |
Correlation
The correlation between IWS and IWMY is 0.84, 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 | 0.84 |
Correlation (All Time) Calculated using the full available price history since Oct 31, 2023 | 0.84 |
The correlation between IWS and IWMY has been stable across timeframes, ranging from 0.84 to 0.84 - a consistent structural relationship.
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Return for Risk
IWS vs. IWMY — Risk / Return Rank
IWS
IWMY
IWS vs. IWMY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell Mid-Cap Value ETF (IWS) and Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY). 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 | IWMY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.64 | ||
| Sortino ratioReturn per unit of downside risk | +1.00 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.21 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.29 | 1.71 | +1.59 |
| Martin ratioReturn relative to average drawdown | 12.38 | 5.59 | +6.79 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IWS | IWMY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.87 | 1.23 | +0.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.47 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.52 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.90 | -0.48 |
Drawdowns
IWS vs. IWMY - Drawdown Comparison
The maximum IWS drawdown since its inception was -62.40%, which is greater than IWMY's maximum drawdown of -18.72%. Use the drawdown chart below to compare losses from any high point for IWS and IWMY.
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Drawdown Indicators
| IWS | IWMY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.40% | -18.72% | -43.68% |
Max Drawdown (1Y)Largest decline over 1 year | -7.53% | -11.57% | +4.04% |
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 DrawdownCurrent decline from peak | -1.83% | -2.89% | +1.06% |
Average DrawdownAverage peak-to-trough decline | -8.02% | -2.98% | -5.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.00% | 3.53% | -1.53% |
Volatility
IWS vs. IWMY - Volatility Comparison
The current volatility for iShares Russell Mid-Cap Value ETF (IWS) is 3.45%, while Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY) has a volatility of 6.26%. This indicates that IWS experiences smaller price fluctuations and is considered to be less risky than IWMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWS | IWMY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.45% | 6.26% | -2.81% |
Volatility (6M)Calculated over the trailing 6-month period | 9.74% | 13.20% | -3.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.30% | 16.15% | -2.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.32% | 15.90% | +1.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.37% | 15.90% | +3.47% |
IWS vs. IWMY - Expense Ratio Comparison
IWS has a 0.23% expense ratio, which is lower than IWMY's 0.99% expense ratio.
Dividends
IWS vs. IWMY - Dividend Comparison
IWS's dividend yield for the trailing twelve months is around 1.36%, less than IWMY's 46.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF | 46.29% | 63.33% | 107.92% | 11.34% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IWS iShares Russell Mid-Cap Value ETF | 1.36% | 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
IWS and IWMY have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IWMY has higher volatility (6.26%) compared to IWS (3.45%). In terms of maximum drawdown, IWS dropped -62.40% vs IWMY's -18.72%.
On 1-year performance, IWS leads with 24.70% vs 19.66% for IWMY. On fees, IWS is cheaper at 0.23% per year. On volatility, IWS has been the lower-risk option at 3.45%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IWS has performed better with a 24.70% return vs 19.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IWS is cheaper with a 0.23% expense ratio, compared with 0.99% for IWMY.
IWMY has the higher dividend yield at 46.29%, compared with 1.36% for IWS.
IWS is categorized as Mid Cap Value Equities, while IWMY is Options Trading. IWS tracks Russell Midcap Value Index, while IWMY tracks Russell 2000 Index. They also come from different issuers: iShares and Defiance. Their fees differ too: 0.23% for IWS and 0.99% for IWMY.
IWS currently has the higher Sharpe Ratio (1.87 vs 1.23), 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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