IWV vs. TRSSX
IWV (iShares Russell 3000 ETF) and TRSSX (T. Rowe Price Institutional Small Cap Stock Fund) are both funds - IWV is a Large Cap Blend Equities fund tracking the Russell 3000 Index, while TRSSX is a Small Cap Growth Equities fund managed by T. Rowe Price. Over the past 10 years, IWV returned 14.84%/yr vs 11.86%/yr for TRSSX. Their correlation of 0.89 suggests significant overlap in exposure. IWV charges 0.20%/yr vs 0.66%/yr for TRSSX.
Performance
IWV vs. TRSSX - Performance Comparison
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Returns By Period
In the year-to-date period, IWV achieves a 9.30% return, which is significantly lower than TRSSX's 12.55% return. Over the past 10 years, IWV has outperformed TRSSX with an annualized return of 14.84%, while TRSSX has yielded a comparatively lower 11.86% annualized return.
IWV
- 1D
- 0.53%
- 1M
- -0.32%
- YTD
- 9.30%
- 6M
- 9.38%
- 1Y
- 25.70%
- 3Y*
- 20.32%
- 5Y*
- 12.07%
- 10Y*
- 14.84%
TRSSX
- 1D
- 3.51%
- 1M
- 0.85%
- YTD
- 12.55%
- 6M
- 10.15%
- 1Y
- 25.11%
- 3Y*
- 14.18%
- 5Y*
- 4.71%
- 10Y*
- 11.86%
IWV vs. TRSSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IWV iShares Russell 3000 ETF | 9.30% | 16.96% | 23.49% | 25.82% | -19.28% | 25.54% | 20.55% | 30.66% | -5.43% | 20.97% |
TRSSX T. Rowe Price Institutional Small Cap Stock Fund | 12.55% | 8.21% | 10.93% | 17.65% | -23.36% | 16.81% | 25.07% | 33.96% | -3.07% | 15.41% |
Correlation
The correlation between IWV and TRSSX is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since May 26, 2000 | 0.89 |
The correlation between IWV and TRSSX shifts across timeframes, from 0.76 (1 year) to 0.89 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IWV vs. TRSSX — Risk / Return Rank
IWV
TRSSX
IWV vs. TRSSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell 3000 ETF (IWV) and T. Rowe Price Institutional Small Cap Stock Fund (TRSSX). 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 | TRSSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.67 | ||
| Sortino ratioReturn per unit of downside risk | +0.71 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.23 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.74 | 2.18 | +0.55 |
| Martin ratioReturn relative to average drawdown | 12.28 | 8.21 | +4.07 |
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Drawdowns
IWV vs. TRSSX - Drawdown Comparison
The maximum IWV drawdown since its inception was -55.61%, roughly equal to the maximum TRSSX drawdown of -56.38%. Use the drawdown chart below to compare losses from any high point for IWV and TRSSX.
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Drawdown Indicators
| IWV | TRSSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.61% | -56.38% | +0.77% |
Max Drawdown (1Y)Largest decline over 1 year | -8.89% | -10.73% | +1.84% |
Max Drawdown (3Y)Largest decline over 3 years | -19.28% | -30.88% | +11.60% |
Max Drawdown (5Y)Largest decline over 5 years | -25.11% | -32.12% | +7.01% |
Max Drawdown (10Y)Largest decline over 10 years | -35.22% | -37.85% | +2.63% |
Current DrawdownCurrent decline from peak | -2.09% | -0.22% | -1.87% |
Average DrawdownAverage peak-to-trough decline | -10.58% | -9.00% | -1.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.98% | 2.82% | -0.84% |
Volatility
IWV vs. TRSSX - Volatility Comparison
The current volatility for iShares Russell 3000 ETF (IWV) is 4.44%, while T. Rowe Price Institutional Small Cap Stock Fund (TRSSX) has a volatility of 6.59%. This indicates that IWV experiences smaller price fluctuations and is considered to be less risky than TRSSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWV | TRSSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.44% | 6.59% | -2.15% |
Volatility (6M)Calculated over the trailing 6-month period | 9.75% | 14.59% | -4.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.57% | 18.49% | -5.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.30% | 22.31% | -5.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.43% | 21.59% | -3.16% |
IWV vs. TRSSX - Expense Ratio Comparison
IWV has a 0.20% expense ratio, which is lower than TRSSX's 0.66% expense ratio.
Dividends
IWV vs. TRSSX - Dividend Comparison
IWV's dividend yield for the trailing twelve months is around 0.87%, less than TRSSX's 9.39% 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% |
TRSSX T. Rowe Price Institutional Small Cap Stock Fund | 9.39% | 10.57% | 19.63% | 5.45% | 5.37% | 8.52% | 4.54% | 6.13% | 13.45% | 6.53% | 0.80% | 7.07% |
Frequently Asked Questions
IWV and TRSSX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TRSSX has higher volatility (6.59%) compared to IWV (4.44%). In terms of maximum drawdown, IWV dropped -55.61% vs TRSSX's -56.38%.
IWV currently has the higher Sharpe Ratio (1.94 vs 1.27), 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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