IWY vs. IJR

Last updated Jun 16, 2026

IWY (iShares Russell Top 200 Growth ETF) and IJR (iShares Core S&P Small-Cap ETF) are both exchange-traded funds - IWY is a Large Cap Growth Equities fund tracking the Russell Top 200 Growth Index, while IJR is a Small Cap Blend Equities fund tracking the S&P SmallCap 600 Index. Both are passively managed. Over the past 10 years, IWY returned 19.59%/yr vs 11.21%/yr for IJR. A 0.69 correlation means they provide meaningful diversification when combined. IWY charges 0.20%/yr vs 0.06%/yr for IJR.

Performance

IWY vs. IJR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell Top 200 Growth ETF (IWY) and iShares Core S&P Small-Cap ETF (IJR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IWY achieves a 5.40% return, which is significantly lower than IJR's 19.86% return. Over the past 10 years, IWY has outperformed IJR with an annualized return of 19.59%, while IJR has yielded a comparatively lower 11.21% annualized return.

IWY

• 1D: 2.34%
• 1M: -0.22%
• YTD: 5.40%
• 6M: 6.65%
• 1Y: 24.23%
• 3Y*: 23.50%
• 5Y*: 15.67%
• 10Y*: 19.59%

IJR

• 1D: 0.11%
• 1M: 7.39%
• YTD: 19.86%
• 6M: 16.97%
• 1Y: 37.16%
• 3Y*: 15.09%
• 5Y*: 6.35%
• 10Y*: 11.21%

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

IWY vs. IJR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IWY iShares Russell Top 200 Growth ETF	5.40%	18.19%	34.89%	46.49%	-29.91%	31.05%	39.01%	36.20%	-0.72%	31.69%
IJR iShares Core S&P Small-Cap ETF	19.86%	5.89%	8.63%	16.06%	-16.20%	26.58%	11.28%	22.82%	-8.51%	13.15%

Correlation

The correlation between IWY and IJR is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (10Y) Calculated over the trailing 10-year period	0.61
Correlation (All Time) Calculated using the full available price history since Sep 28, 2009	0.69

The correlation between IWY and IJR shifts across timeframes, from 0.50 (1 year) to 0.69 (all time), reflecting how their relationship changes across market environments.

IWY vs. IJR - Sectors Allocation Comparison

Sectors	IWY	IJR
Technology	56.8%	15.9%
Communication Services	12.7%	3.2%
Consumer Cyclical	10.4%	12.5%
Healthcare	6.9%	11.0%
Financial Services	5.3%	16.0%
Industrials	3.2%	16.0%
Consumer Defensive	2.8%	3.2%
Utilities	0.9%	1.9%
Real Estate	0.4%	7.5%
Basic Materials	0.3%	4.7%
Energy	0.0%	6.8%

Return for Risk

IWY vs. IJR — Risk / Return Rank

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

IWY

IWY Risk / Return Rank: 41
IWY Sharpe Ratio Rank: 48
IWY Sortino Ratio Rank: 46
IWY Omega Ratio Rank: 45
IWY Calmar Ratio Rank: 33
IWY Martin Ratio Rank: 34

IJR

IJR Risk / Return Rank: 77
IJR Sharpe Ratio Rank: 74
IJR Sortino Ratio Rank: 76
IJR Omega Ratio Rank: 68
IJR Calmar Ratio Rank: 86
IJR Martin Ratio Rank: 82

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.

IWY vs. IJR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell Top 200 Growth ETF (IWY) and iShares Core S&P Small-Cap ETF (IJR). 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.

	IWY	IJR	Difference
Sharpe ratio: Return per unit of total volatility	1.51	2.12	-0.61
Sortino ratio: Return per unit of downside risk	2.07	3.03	-0.96
Omega ratio: Gain probability vs. loss probability	1.27	1.36	-0.10
Calmar ratio: Return relative to maximum drawdown	1.46	4.30	-2.83
Martin ratio: Return relative to average drawdown	4.70	14.44	-9.74

IWY vs. IJR - Sharpe Ratio Comparison

The current IWY Sharpe Ratio is 1.51, which is comparable to the IJR Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of IWY and IJR, 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

IWY vs. IJR - Drawdown Comparison

The maximum IWY drawdown since its inception was -32.68%, smaller than the maximum IJR drawdown of -58.15%. Use the drawdown chart below to compare losses from any high point for IWY and IJR.

Drawdown Indicators

	IWY	IJR	Difference
Max Drawdown Largest peak-to-trough decline	-32.68%	-58.15%	+25.47%
Max Drawdown (1Y) Largest decline over 1 year	-16.63%	-8.68%	-7.95%
Max Drawdown (3Y) Largest decline over 3 years	-23.22%	-28.02%	+4.80%
Max Drawdown (5Y) Largest decline over 5 years	-32.68%	-28.02%	-4.66%
Max Drawdown (10Y) Largest decline over 10 years	-32.68%	-44.36%	+11.68%
Current Drawdown Current decline from peak	-3.47%	0.00%	-3.47%
Average Drawdown Average peak-to-trough decline	-4.75%	-9.27%	+4.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.17%	2.58%	+2.59%

Volatility

IWY vs. IJR - Volatility Comparison

iShares Russell Top 200 Growth ETF (IWY) has a higher volatility of 5.68% compared to iShares Core S&P Small-Cap ETF (IJR) at 5.17%. This indicates that IWY's price experiences larger fluctuations and is considered to be riskier than IJR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWY	IJR	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.68%	5.17%	+0.51%
Volatility (6M) Calculated over the trailing 6-month period	12.59%	11.93%	+0.66%
Volatility (1Y) Calculated over the trailing 1-year period	16.14%	17.67%	-1.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.57%	21.44%	+0.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.03%	22.93%	-1.90%

IWY vs. IJR - Expense Ratio Comparison

IWY has a 0.20% expense ratio, which is higher than IJR's 0.06% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IWY vs. IJR - Dividend Comparison

IWY's dividend yield for the trailing twelve months is around 0.43%, less than IJR's 1.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IJR iShares Core S&P Small-Cap ETF	1.42%	1.44%	2.05%	1.31%	1.41%	1.53%	1.11%	1.44%	1.58%	1.20%	1.22%	1.48%
IWY iShares Russell Top 200 Growth ETF	0.43%	0.36%	0.42%	0.68%	0.88%	0.50%	0.71%	1.06%	1.32%	1.26%	1.51%	1.58%

Frequently Asked Questions

Can I hold both IWY and IJR in my portfolio?

IWY and IJR have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IWY or IJR?

IWY has higher volatility (5.68%) compared to IJR (5.17%). In terms of maximum drawdown, IWY dropped -32.68% vs IJR's -58.15%.

Which ETF is better, IWY or IJR?

On 10-year performance, IWY leads with 19.59% vs 11.21% for IJR. On fees, IJR is cheaper at 0.06% per year. On volatility, IJR has been the lower-risk option at 5.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IWY or IJR?

Over the 10-year period, IWY has performed better with a 19.59% return vs 11.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IWY or IJR?

IJR is cheaper with a 0.06% expense ratio, compared with 0.20% for IWY.

Which ETF pays a higher dividend yield, IWY or IJR?

IJR has the higher dividend yield at 1.42%, compared with 0.43% for IWY.

What is the main difference between IWY and IJR?

IWY is categorized as Large Cap Growth Equities, while IJR is Small Cap Blend Equities. IWY tracks Russell Top 200 Growth Index, while IJR tracks S&P SmallCap 600 Index. Their fees differ too: 0.20% for IWY and 0.06% for IJR.

Which has better risk-adjusted returns?

IJR currently has the higher Sharpe Ratio (2.12 vs 1.51), 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.