IWX vs. KEAT

Last updated Apr 2, 2026

Compare and contrast key facts about iShares Russell Top 200 Value ETF (IWX) and Keating Active ETF (KEAT).

IWX and KEAT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IWX is a passively managed fund by iShares that tracks the performance of the Russell Top 200 Value Index. It was launched on Sep 22, 2009. KEAT is an actively managed fund by Keating. It was launched on Mar 27, 2024.

Performance

IWX vs. KEAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell Top 200 Value ETF (IWX) and Keating Active ETF (KEAT). The values are adjusted to include any dividend payments, if applicable.

IWX vs. KEAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IWX iShares Russell Top 200 Value ETF	1.79%	18.23%	5.50%
KEAT Keating Active ETF	11.91%	22.76%	2.41%

Returns By Period

In the year-to-date period, IWX achieves a 1.79% return, which is significantly lower than KEAT's 11.91% return.

IWX

• 1D: 0.51%
• 1M: -3.86%
• YTD: 1.79%
• 6M: 6.71%
• 1Y: 15.61%
• 3Y*: 14.89%
• 5Y*: 9.90%
• 10Y*: 10.76%

KEAT

• 1D: -0.19%
• 1M: -3.46%
• YTD: 11.91%
• 6M: 15.74%
• 1Y: 29.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IWX vs. KEAT - Expense Ratio Comparison

IWX has a 0.20% expense ratio, which is lower than KEAT's 0.85% expense ratio.

KEAT

Keating Active ETF

IWX

iShares Russell Top 200 Value ETF

Return for Risk

IWX vs. KEAT — Risk / Return Rank

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

IWX

IWX Risk / Return Rank: 57
IWX Sharpe Ratio Rank: 57
IWX Sortino Ratio Rank: 55
IWX Omega Ratio Rank: 60
IWX Calmar Ratio Rank: 51
IWX Martin Ratio Rank: 61

KEAT

KEAT Risk / Return Rank: 95
KEAT Sharpe Ratio Rank: 95
KEAT Sortino Ratio Rank: 95
KEAT Omega Ratio Rank: 95
KEAT Calmar Ratio Rank: 94
KEAT Martin Ratio Rank: 95

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.

IWX vs. KEAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell Top 200 Value ETF (IWX) and Keating Active ETF (KEAT). 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.

	IWX	KEAT	Difference
Sharpe ratio Return per unit of total volatility	1.06	2.49	-1.43
Sortino ratio Return per unit of downside risk	1.51	3.22	-1.72
Omega ratio Gain probability vs. loss probability	1.23	1.48	-0.25
Calmar ratio Return relative to maximum drawdown	1.38	4.02	-2.63
Martin ratio Return relative to average drawdown	6.38	16.77	-10.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IWX vs. KEAT - Sharpe Ratio Comparison

The current IWX Sharpe Ratio is 1.06, which is lower than the KEAT Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of IWX and KEAT, 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

	IWX	KEAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.06	2.49	-1.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	1.79	-1.13

Correlation

The correlation between IWX and KEAT is 0.59, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

IWX vs. KEAT - Dividend Comparison

IWX's dividend yield for the trailing twelve months is around 1.65%, less than KEAT's 2.37% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IWX iShares Russell Top 200 Value ETF	1.65%	1.59%	1.97%	2.13%	2.07%	1.79%	2.12%	2.60%	2.66%	2.12%	2.22%	2.77%
KEAT Keating Active ETF	2.37%	2.48%	1.72%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

IWX vs. KEAT - Drawdown Comparison

The maximum IWX drawdown since its inception was -35.76%, which is greater than KEAT's maximum drawdown of -7.45%. Use the drawdown chart below to compare losses from any high point for IWX and KEAT.

Drawdown Indicators

	IWX	KEAT	Difference
Max Drawdown Largest peak-to-trough decline	-35.76%	-7.45%	-28.31%
Max Drawdown (1Y) Largest decline over 1 year	-11.07%	-7.38%	-3.69%
Max Drawdown (5Y) Largest decline over 5 years	-18.13%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-35.76%	—	—
Current Drawdown Current decline from peak	-4.24%	-3.46%	-0.78%
Average Drawdown Average peak-to-trough decline	-3.85%	-1.38%	-2.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.40%	1.77%	+0.63%

Volatility

IWX vs. KEAT - Volatility Comparison

iShares Russell Top 200 Value ETF (IWX) has a higher volatility of 3.97% compared to Keating Active ETF (KEAT) at 2.97%. This indicates that IWX's price experiences larger fluctuations and is considered to be riskier than KEAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWX	KEAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.97%	2.97%	+1.00%
Volatility (6M) Calculated over the trailing 6-month period	7.63%	8.67%	-1.04%
Volatility (1Y) Calculated over the trailing 1-year period	14.74%	12.06%	+2.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.82%	10.39%	+3.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.51%	10.39%	+6.12%