IWS vs. IWN

Last updated Apr 1, 2026

Compare and contrast key facts about iShares Russell Mid-Cap Value ETF (IWS) and iShares Russell 2000 Value ETF (IWN).

IWS and IWN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IWS is a passively managed fund by iShares that tracks the performance of the Russell Midcap Value Index. It was launched on Jul 17, 2001. IWN is a passively managed fund by iShares that tracks the performance of the Russell 2000 Value Index. It was launched on Jul 24, 2000. Both IWS and IWN are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

IWS vs. IWN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell Mid-Cap Value ETF (IWS) and iShares Russell 2000 Value ETF (IWN). The values are adjusted to include any dividend payments, if applicable.

IWS vs. IWN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IWS iShares Russell Mid-Cap Value ETF	3.65%	10.82%	12.91%	12.52%	-12.29%	28.10%	4.83%	26.73%	-12.43%	13.14%
IWN iShares Russell 2000 Value ETF	4.91%	12.40%	7.63%	14.56%	-14.77%	27.96%	4.66%	22.01%	-13.01%	7.69%

Returns By Period

In the year-to-date period, IWS achieves a 3.65% return, which is significantly lower than IWN's 4.91% return. Both investments have delivered pretty close results over the past 10 years, with IWS having a 9.51% annualized return and IWN not far behind at 9.40%.

IWS

• 1D: 2.43%
• 1M: -5.01%
• YTD: 3.65%
• 6M: 5.15%
• 1Y: 17.51%
• 3Y*: 12.94%
• 5Y*: 7.47%
• 10Y*: 9.51%

IWN

• 1D: 2.58%
• 1M: -3.76%
• YTD: 4.91%
• 6M: 8.14%
• 1Y: 27.81%
• 3Y*: 13.54%
• 5Y*: 5.25%
• 10Y*: 9.40%

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

IWS vs. IWN - Expense Ratio Comparison

IWS has a 0.23% expense ratio, which is lower than IWN's 0.24% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

IWN

iShares Russell 2000 Value ETF

IWS

iShares Russell Mid-Cap Value ETF

Return for Risk

IWS vs. IWN — Risk / Return Rank

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

IWS

IWS Risk / Return Rank: 59
IWS Sharpe Ratio Rank: 57
IWS Sortino Ratio Rank: 58
IWS Omega Ratio Rank: 56
IWS Calmar Ratio Rank: 57
IWS Martin Ratio Rank: 65

IWN

IWN Risk / Return Rank: 75
IWN Sharpe Ratio Rank: 74
IWN Sortino Ratio Rank: 77
IWN Omega Ratio Rank: 70
IWN Calmar Ratio Rank: 78
IWN Martin Ratio Rank: 78

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. IWN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell Mid-Cap Value ETF (IWS) and iShares Russell 2000 Value ETF (IWN). 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	IWN	Difference
Sharpe ratio Return per unit of total volatility	0.96	1.28	-0.32
Sortino ratio Return per unit of downside risk	1.44	1.86	-0.42
Omega ratio Gain probability vs. loss probability	1.20	1.25	-0.04
Calmar ratio Return relative to maximum drawdown	1.37	2.00	-0.63
Martin ratio Return relative to average drawdown	6.34	7.95	-1.62
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. IWN - Sharpe Ratio Comparison

The current IWS Sharpe Ratio is 0.96, which is comparable to the IWN Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of IWS and IWN, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	IWS	IWN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.96	1.28	-0.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.25	+0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.40	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.37	+0.03

Correlation

The correlation between IWS and IWN is 0.91, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

IWS vs. IWN - Dividend Comparison

IWS's dividend yield for the trailing twelve months is around 1.48%, less than IWN's 1.63% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IWS iShares Russell Mid-Cap Value ETF	1.48%	1.53%	1.50%	1.76%	1.93%	1.39%	1.87%	1.97%	2.53%	1.96%	2.10%	2.14%
IWN iShares Russell 2000 Value ETF	1.63%	1.70%	1.80%	2.04%	2.12%	1.48%	1.60%	1.92%	1.99%	1.78%	1.74%	2.15%

Drawdowns

IWS vs. IWN - Drawdown Comparison

The maximum IWS drawdown since its inception was -62.40%, roughly equal to the maximum IWN drawdown of -61.55%. Use the drawdown chart below to compare losses from any high point for IWS and IWN.

Drawdown Indicators

	IWS	IWN	Difference
Max Drawdown Largest peak-to-trough decline	-62.40%	-61.55%	-0.85%
Max Drawdown (1Y) Largest decline over 1 year	-13.33%	-13.80%	+0.47%
Max Drawdown (5Y) Largest decline over 5 years	-21.23%	-26.70%	+5.47%
Max Drawdown (10Y) Largest decline over 10 years	-43.83%	-46.08%	+2.25%
Current Drawdown Current decline from peak	-5.29%	-5.39%	+0.10%
Average Drawdown Average peak-to-trough decline	-8.07%	-10.22%	+2.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.89%	3.47%	-0.58%

Volatility

IWS vs. IWN - Volatility Comparison

The current volatility for iShares Russell Mid-Cap Value ETF (IWS) is 5.38%, while iShares Russell 2000 Value ETF (IWN) has a volatility of 6.25%. This indicates that IWS experiences smaller price fluctuations and is considered to be less risky than IWN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWS	IWN	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.38%	6.25%	-0.87%
Volatility (6M) Calculated over the trailing 6-month period	10.14%	12.98%	-2.84%
Volatility (1Y) Calculated over the trailing 1-year period	18.29%	21.78%	-3.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.33%	21.54%	-4.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.35%	23.37%	-4.02%