IWX vs. FAAR
IWX (iShares Russell Top 200 Value ETF) and FAAR (First Trust Alternative Absolute Return Strategy ETF) are both exchange-traded funds - IWX is a Large Cap Value Equities fund tracking the Russell Top 200 Value Index, while FAAR is a Commodities fund actively managed by First Trust. IWX is passively managed, while FAAR is actively managed. Over the past 10 years, IWX returned 12.18%/yr vs 4.79%/yr for FAAR. At a 0.09 correlation, their price movements are largely independent. IWX charges 0.20%/yr vs 0.95%/yr for FAAR.
Performance
IWX vs. FAAR - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IWX achieves a 16.29% return, which is significantly lower than FAAR's 20.23% return. Over the past 10 years, IWX has outperformed FAAR with an annualized return of 12.18%, while FAAR has yielded a comparatively lower 4.79% annualized return.
IWX
- 1D
- 0.48%
- 1M
- 3.22%
- YTD
- 16.29%
- 6M
- 16.17%
- 1Y
- 31.21%
- 3Y*
- 19.36%
- 5Y*
- 12.21%
- 10Y*
- 12.18%
FAAR
- 1D
- -0.05%
- 1M
- -4.34%
- YTD
- 20.23%
- 6M
- 19.92%
- 1Y
- 26.86%
- 3Y*
- 10.91%
- 5Y*
- 7.89%
- 10Y*
- 4.79%
IWX vs. FAAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IWX iShares Russell Top 200 Value ETF | 16.29% | 18.23% | 14.89% | 10.45% | -5.33% | 23.33% | 1.46% | 25.82% | -6.53% | 14.05% |
FAAR First Trust Alternative Absolute Return Strategy ETF | 20.23% | 8.07% | 5.97% | -5.63% | 10.15% | 12.34% | 8.60% | -1.28% | -9.17% | 5.00% |
Correlation
The correlation between IWX and FAAR is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since May 23, 2016 | 0.09 |
The correlation between IWX and FAAR shifts across timeframes, from -0.10 (1 year) to 0.09 (10 years), reflecting how their relationship changes across market environments.
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
IWX vs. FAAR — Risk / Return Rank
IWX
FAAR
IWX vs. FAAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell Top 200 Value ETF (IWX) and First Trust Alternative Absolute Return Strategy ETF (FAAR). 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.
| IWX | FAAR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.97 | ||
| Sortino ratioReturn per unit of downside risk | +1.26 | ||
| Omega ratioGain probability vs. loss probability | 1.54 | 1.35 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 4.76 | 4.75 | +0.01 |
| Martin ratioReturn relative to average drawdown | 20.24 | 14.70 | +5.55 |
Loading charts...
Drawdowns
IWX vs. FAAR - Drawdown Comparison
The maximum IWX drawdown since its inception was -35.76%, which is greater than FAAR's maximum drawdown of -18.03%. Use the drawdown chart below to compare losses from any high point for IWX and FAAR.
Loading charts...
Drawdown Indicators
| IWX | FAAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.76% | -18.03% | -17.73% |
Max Drawdown (1Y)Largest decline over 1 year | -6.59% | -5.68% | -0.91% |
Max Drawdown (3Y)Largest decline over 3 years | -13.37% | -11.54% | -1.83% |
Max Drawdown (5Y)Largest decline over 5 years | -18.13% | -18.03% | -0.10% |
Max Drawdown (10Y)Largest decline over 10 years | -35.76% | -18.03% | -17.73% |
Current DrawdownCurrent decline from peak | -0.12% | -5.43% | +5.31% |
Average DrawdownAverage peak-to-trough decline | -3.81% | -7.82% | +4.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.55% | 1.89% | -0.34% |
Volatility
IWX vs. FAAR - Volatility Comparison
iShares Russell Top 200 Value ETF (IWX) has a higher volatility of 3.87% compared to First Trust Alternative Absolute Return Strategy ETF (FAAR) at 2.47%. This indicates that IWX's price experiences larger fluctuations and is considered to be riskier than FAAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IWX | FAAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.87% | 2.47% | +1.40% |
Volatility (6M)Calculated over the trailing 6-month period | 8.20% | 9.68% | -1.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.51% | 13.37% | -2.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.88% | 12.95% | +0.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.54% | 11.53% | +5.01% |
IWX vs. FAAR - Expense Ratio Comparison
IWX has a 0.20% expense ratio, which is lower than FAAR's 0.95% expense ratio.
Dividends
IWX vs. FAAR - Dividend Comparison
IWX's dividend yield for the trailing twelve months is around 1.45%, less than FAAR's 9.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAAR First Trust Alternative Absolute Return Strategy ETF | 9.57% | 11.63% | 3.45% | 3.20% | 5.82% | 6.49% | 3.05% | 1.02% | 0.58% | 2.83% | 0.00% | 0.00% |
IWX iShares Russell Top 200 Value ETF | 1.45% | 1.59% | 1.97% | 2.13% | 2.07% | 1.79% | 2.12% | 2.60% | 2.66% | 2.12% | 2.22% | 2.77% |
Frequently Asked Questions
IWX and FAAR have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IWX has higher volatility (3.87%) compared to FAAR (2.47%). In terms of maximum drawdown, IWX dropped -35.76% vs FAAR's -18.03%.
On 10-year performance, IWX leads with 12.18% vs 4.79% for FAAR. On fees, IWX is cheaper at 0.20% per year. On volatility, FAAR has been the lower-risk option at 2.47%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IWX has performed better with a 12.18% return vs 4.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IWX is cheaper with a 0.20% expense ratio, compared with 0.95% for FAAR.
FAAR has the higher dividend yield at 9.57%, compared with 1.45% for IWX.
IWX is categorized as Large Cap Value Equities, while FAAR is Commodities. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.20% for IWX and 0.95% for FAAR.
IWX currently has the higher Sharpe Ratio (2.99 vs 2.02), 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 IWX and FAAR
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