IWV vs. RAFE
IWV (iShares Russell 3000 ETF) and RAFE (PIMCO RAFI ESG U.S. ETF) are both Large Cap Blend Equities funds - IWV tracks the Russell 3000 Index while RAFE tracks the RAFI ESG US Index. Both are passively managed. Over the past 5 years, IWV returned 11.98%/yr vs 11.46%/yr for RAFE. Their correlation of 0.88 suggests significant overlap in exposure. IWV charges 0.20%/yr vs 0.30%/yr for RAFE.
Performance
IWV vs. RAFE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IWV achieves a 11.52% return, which is significantly lower than RAFE's 15.78% return.
IWV
- 1D
- 0.27%
- 1M
- 2.02%
- 6M
- 9.28%
- YTD
- 11.52%
- 1Y
- 22.31%
- 3Y*
- 20.39%
- 5Y*
- 11.98%
- 10Y*
- 14.62%
RAFE
- 1D
- 0.19%
- 1M
- 1.65%
- 6M
- 13.43%
- YTD
- 15.78%
- 1Y
- 28.14%
- 3Y*
- 19.01%
- 5Y*
- 11.46%
- 10Y*
- —
IWV vs. RAFE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IWV iShares Russell 3000 ETF | 11.52% | 16.96% | 23.49% | 25.82% | -19.28% | 25.54% | 20.55% | 1.18% |
RAFE PIMCO RAFI ESG U.S. ETF | 15.78% | 17.60% | 13.81% | 18.80% | -13.76% | 30.16% | 5.29% | 0.43% |
Correlation
The correlation between IWV and RAFE is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2019 | 0.88 |
The correlation between IWV and RAFE has been stable across timeframes, ranging from 0.83 to 0.90 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IWV vs. RAFE — Risk / Return Rank
IWV
RAFE
IWV vs. RAFE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell 3000 ETF (IWV) and PIMCO RAFI ESG U.S. ETF (RAFE). 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.
| IWV | RAFE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.67 | ||
| Sortino ratioReturn per unit of downside risk | -0.97 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.43 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.46 | 3.64 | -1.19 |
| Martin ratioReturn relative to average drawdown | 10.78 | 14.19 | -3.41 |
Loading charts...
Drawdowns
IWV vs. RAFE - Drawdown Comparison
The maximum IWV drawdown since its inception was -55.61%, which is greater than RAFE's maximum drawdown of -35.74%. Use the drawdown chart below to compare losses from any high point for IWV and RAFE.
Loading charts...
Drawdown Indicators
| IWV | RAFE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.61% | -35.74% | -19.87% |
Max Drawdown (1Y)Largest decline over 1 year | -8.89% | -7.46% | -1.43% |
Max Drawdown (3Y)Largest decline over 3 years | -19.28% | -16.36% | -2.92% |
Max Drawdown (5Y)Largest decline over 5 years | -25.11% | -24.28% | -0.83% |
Max Drawdown (10Y)Largest decline over 10 years | -35.22% | — | — |
Current DrawdownCurrent decline from peak | -0.10% | 0.00% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -10.55% | -6.13% | -4.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.02% | 1.92% | +0.10% |
Volatility
IWV vs. RAFE - Volatility Comparison
iShares Russell 3000 ETF (IWV) has a higher volatility of 4.23% compared to PIMCO RAFI ESG U.S. ETF (RAFE) at 3.10%. This indicates that IWV's price experiences larger fluctuations and is considered to be riskier than RAFE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IWV | RAFE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.23% | 3.10% | +1.13% |
Volatility (6M)Calculated over the trailing 6-month period | 10.00% | 8.60% | +1.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.71% | 11.37% | +1.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.33% | 15.06% | +2.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.37% | 19.33% | -0.96% |
IWV vs. RAFE - Expense Ratio Comparison
IWV has a 0.20% expense ratio, which is lower than RAFE's 0.30% expense ratio.
Dividends
IWV vs. RAFE - Dividend Comparison
IWV's dividend yield for the trailing twelve months is around 0.87%, less than RAFE's 1.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWV iShares Russell 3000 ETF | 0.87% | 0.96% | 1.08% | 1.30% | 1.56% | 1.04% | 1.30% | 1.69% | 1.97% | 1.58% | 1.79% | 1.99% |
RAFE PIMCO RAFI ESG U.S. ETF | 1.49% | 1.67% | 1.79% | 1.81% | 2.22% | 1.42% | 2.36% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IWV and RAFE have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IWV has higher volatility (4.23%) compared to RAFE (3.10%). In terms of maximum drawdown, IWV dropped -55.61% vs RAFE's -35.74%.
On 5-year performance, IWV leads with 11.98% vs 11.46% for RAFE. On fees, IWV is cheaper at 0.20% per year. On volatility, RAFE has been the lower-risk option at 3.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IWV has performed better with a 11.98% return vs 11.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IWV is cheaper with a 0.20% expense ratio, compared with 0.30% for RAFE.
RAFE has the higher dividend yield at 1.49%, compared with 0.87% for IWV.
IWV tracks Russell 3000 Index, while RAFE tracks RAFI ESG US Index. They also come from different issuers: iShares and PIMCO. Their fees differ too: 0.20% for IWV and 0.30% for RAFE.
RAFE currently has the higher Sharpe Ratio (2.39 vs 1.72), 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.
Find the right allocation for IWV and RAFE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer