IWS vs. SYLD

Last updated Jul 17, 2026

IWS (iShares Russell Mid-Cap Value ETF) and SYLD (Cambria Shareholder Yield ETF) are both Mid Cap Value Equities funds. IWS is passively managed, while SYLD is actively managed. Over the past 10 years, IWS returned 10.22%/yr vs 13.51%/yr for SYLD. Their correlation of 0.90 suggests significant overlap in exposure. IWS charges 0.23%/yr vs 0.59%/yr for SYLD.

Performance

IWS vs. SYLD - Performance Comparison

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

Returns By Period

In the year-to-date period, IWS achieves a 19.27% return, which is significantly lower than SYLD's 21.10% return. Over the past 10 years, IWS has underperformed SYLD with an annualized return of 10.22%, while SYLD has yielded a comparatively higher 13.51% annualized return.

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%

SYLD

• 1D: 1.89%
• 1M: 5.16%
• 6M: 13.57%
• YTD: 21.10%
• 1Y: 29.15%
• 3Y*: 12.45%
• 5Y*: 9.30%
• 10Y*: 13.51%

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

IWS vs. SYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
SYLD Cambria Shareholder Yield ETF	21.10%	3.94%	3.37%	16.46%	-6.14%	48.59%	13.61%	26.98%	-13.51%	20.03%

Correlation

The correlation between IWS and SYLD is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since May 14, 2013	0.90

The correlation between IWS and SYLD has been stable across timeframes, ranging from 0.81 to 0.90 - a consistent structural relationship.

IWS vs. SYLD - Sectors Allocation Comparison

Sectors	IWS	SYLD
Technology	18.7%	2.1%
Industrials	16.2%	8.3%
Financial Services	13.7%	22.7%
Consumer Cyclical	8.5%	23.5%
Real Estate	8.3%	-
Healthcare	7.6%	5.7%
Energy	7.4%	17.1%
Utilities	6.6%	-
Basic Materials	5.3%	8.0%
Consumer Defensive	4.7%	6.7%
Communication Services	3.1%	6.0%

Return for Risk

IWS vs. SYLD — Risk / Return Rank

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

IWS

IWS Risk / Return Rank: 81
IWS Sharpe Ratio Rank: 79
IWS Sortino Ratio Rank: 81
IWS Omega Ratio Rank: 75
IWS Calmar Ratio Rank: 83
IWS Martin Ratio Rank: 85

SYLD

SYLD Risk / Return Rank: 79
SYLD Sharpe Ratio Rank: 75
SYLD Sortino Ratio Rank: 81
SYLD Omega Ratio Rank: 70
SYLD Calmar Ratio Rank: 89
SYLD Martin Ratio Rank: 77

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. SYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell Mid-Cap Value ETF (IWS) and Cambria Shareholder Yield ETF (SYLD). 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.

	IWS	SYLD	Difference
Sharpe ratio: Return per unit of total volatility	2.01	1.91	+0.09
Sortino ratio: Return per unit of downside risk	2.89	2.89	0.00
Omega ratio: Gain probability vs. loss probability	1.35	1.33	+0.02
Calmar ratio: Return relative to maximum drawdown	3.59	4.23	-0.63
Martin ratio: Return relative to average drawdown	13.50	11.44	+2.07

IWS vs. SYLD - Sharpe Ratio Comparison

The current IWS Sharpe Ratio is 2.01, which is comparable to the SYLD Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of IWS and SYLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IWS vs. SYLD - Drawdown Comparison

The maximum IWS drawdown since its inception was -62.40%, which is greater than SYLD's maximum drawdown of -45.36%. Use the drawdown chart below to compare losses from any high point for IWS and SYLD.

Drawdown Indicators

	IWS	SYLD	Difference
Max Drawdown Largest peak-to-trough decline	-62.40%	-45.36%	-17.04%
Max Drawdown (1Y) Largest decline over 1 year	-7.53%	-6.93%	-0.60%
Max Drawdown (3Y) Largest decline over 3 years	-20.57%	-26.62%	+6.05%
Max Drawdown (5Y) Largest decline over 5 years	-21.23%	-26.62%	+5.39%
Max Drawdown (10Y) Largest decline over 10 years	-43.83%	-45.36%	+1.53%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.98%	-5.62%	-2.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.00%	2.56%	-0.56%

Volatility

IWS vs. SYLD - Volatility Comparison

iShares Russell Mid-Cap Value ETF (IWS) and Cambria Shareholder Yield ETF (SYLD) have volatilities of 3.57% and 3.70%, 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.

Volatility by Period

	IWS	SYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.57%	3.70%	-0.13%
Volatility (6M) Calculated over the trailing 6-month period	10.07%	9.54%	+0.53%
Volatility (1Y) Calculated over the trailing 1-year period	13.50%	15.31%	-1.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.31%	20.35%	-3.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.30%	22.90%	-3.60%

IWS vs. SYLD - Expense Ratio Comparison

IWS has a 0.23% expense ratio, which is lower than SYLD's 0.59% expense ratio.

Dividends

IWS vs. SYLD - Dividend Comparison

IWS's dividend yield for the trailing twelve months is around 1.30%, less than SYLD's 1.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
SYLD Cambria Shareholder Yield ETF	1.83%	2.25%	2.04%	1.92%	2.20%	2.37%	1.99%	2.08%	2.52%	1.57%	1.92%	6.93%

Frequently Asked Questions

Can I hold both IWS and SYLD in my portfolio?

IWS and SYLD have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IWS or SYLD?

SYLD has higher volatility (3.70%) compared to IWS (3.57%). In terms of maximum drawdown, IWS dropped -62.40% vs SYLD's -45.36%.

Which ETF is better, IWS or SYLD?

On 10-year performance, SYLD leads with 13.51% vs 10.22% for IWS. On fees, IWS is cheaper at 0.23% per year. On volatility, IWS has been the lower-risk option at 3.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IWS or SYLD?

Over the 10-year period, SYLD has performed better with a 13.51% return vs 10.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IWS or SYLD?

IWS is cheaper with a 0.23% expense ratio, compared with 0.59% for SYLD.

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

SYLD has the higher dividend yield at 1.83%, compared with 1.30% for IWS.

What is the main difference between IWS and SYLD?

They also come from different issuers: iShares and Cambria. Their fees differ too: 0.23% for IWS and 0.59% for SYLD.

Which has better risk-adjusted returns?

IWS currently has the higher Sharpe Ratio (2.01 vs 1.91), 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.