IWY vs. IYW
IWY (iShares Russell Top 200 Growth ETF) and IYW (iShares U.S. Technology ETF) are both exchange-traded funds - IWY is a Large Cap Growth Equities fund tracking the Russell Top 200 Growth Index, while IYW is a Technology Equities fund tracking the Russell 1000 Technology RIC 22.5/45 Capped Index. Both are passively managed. Over the past 10 years, IWY returned 19.57%/yr vs 26.11%/yr for IYW. Their correlation of 0.93 suggests significant overlap in exposure. IWY charges 0.20%/yr vs 0.38%/yr for IYW.
Performance
IWY vs. IYW - Performance Comparison
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Returns By Period
In the year-to-date period, IWY achieves a 7.20% return, which is significantly lower than IYW's 29.03% return. Over the past 10 years, IWY has underperformed IYW with an annualized return of 19.57%, while IYW has yielded a comparatively higher 26.11% annualized return.
IWY
- 1D
- -1.41%
- 1M
- 5.83%
- YTD
- 7.20%
- 6M
- 6.65%
- 1Y
- 26.69%
- 3Y*
- 25.47%
- 5Y*
- 16.45%
- 10Y*
- 19.57%
IYW
- 1D
- -0.92%
- 1M
- 16.53%
- YTD
- 29.03%
- 6M
- 28.22%
- 1Y
- 59.52%
- 3Y*
- 35.24%
- 5Y*
- 22.87%
- 10Y*
- 26.11%
IWY vs. IYW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IWY iShares Russell Top 200 Growth ETF | 7.20% | 18.19% | 34.89% | 46.49% | -29.91% | 31.05% | 39.01% | 36.20% | -0.72% | 31.69% |
IYW iShares U.S. Technology ETF | 29.03% | 25.38% | 30.25% | 65.44% | -34.83% | 35.44% | 47.45% | 46.64% | -0.93% | 36.60% |
Correlation
The correlation between IWY and IYW is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2009 | 0.93 |
The correlation between IWY and IYW has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.
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Return for Risk
IWY vs. IYW — Risk / Return Rank
IWY
IYW
IWY vs. IYW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell Top 200 Growth ETF (IWY) and iShares U.S. Technology ETF (IYW). 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.
| IWY | IYW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.26 | ||
| Sortino ratioReturn per unit of downside risk | -1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.48 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.61 | 3.36 | -1.75 |
| Martin ratioReturn relative to average drawdown | 5.26 | 11.00 | -5.74 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IWY | IYW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.73 | 2.98 | -1.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.77 | 0.89 | -0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.94 | 1.04 | -0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.92 | 0.35 | +0.57 |
Drawdowns
IWY vs. IYW - Drawdown Comparison
The maximum IWY drawdown since its inception was -32.68%, smaller than the maximum IYW drawdown of -81.90%. Use the drawdown chart below to compare losses from any high point for IWY and IYW.
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Drawdown Indicators
| IWY | IYW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.68% | -81.90% | +49.22% |
Max Drawdown (1Y)Largest decline over 1 year | -16.63% | -17.81% | +1.18% |
Max Drawdown (3Y)Largest decline over 3 years | -23.22% | -26.47% | +3.25% |
Max Drawdown (5Y)Largest decline over 5 years | -32.68% | -39.44% | +6.76% |
Max Drawdown (10Y)Largest decline over 10 years | -32.68% | -39.44% | +6.76% |
Current DrawdownCurrent decline from peak | -1.82% | -0.92% | -0.90% |
Average DrawdownAverage peak-to-trough decline | -4.75% | -34.66% | +29.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.09% | 5.43% | -0.34% |
Volatility
IWY vs. IYW - Volatility Comparison
The current volatility for iShares Russell Top 200 Growth ETF (IWY) is 3.69%, while iShares U.S. Technology ETF (IYW) has a volatility of 6.30%. This indicates that IWY experiences smaller price fluctuations and is considered to be less risky than IYW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWY | IYW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.69% | 6.30% | -2.61% |
Volatility (6M)Calculated over the trailing 6-month period | 11.65% | 15.85% | -4.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.54% | 20.09% | -4.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.48% | 25.87% | -4.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.97% | 25.09% | -4.12% |
IWY vs. IYW - Expense Ratio Comparison
IWY has a 0.20% expense ratio, which is lower than IYW's 0.38% expense ratio.
Dividends
IWY vs. IYW - Dividend Comparison
IWY's dividend yield for the trailing twelve months is around 0.33%, more than IYW's 0.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWY iShares Russell Top 200 Growth ETF | 0.33% | 0.36% | 0.42% | 0.68% | 0.88% | 0.50% | 0.71% | 1.06% | 1.32% | 1.26% | 1.51% | 1.58% |
IYW iShares U.S. Technology ETF | 0.11% | 0.14% | 0.21% | 0.34% | 0.50% | 0.31% | 0.56% | 0.72% | 0.92% | 0.82% | 1.14% | 1.12% |
Frequently Asked Questions
With a correlation of 0.93, IWY and IYW move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
IYW has higher volatility (6.30%) compared to IWY (3.69%). In terms of maximum drawdown, IWY dropped -32.68% vs IYW's -81.90%.
On 10-year performance, IYW leads with 26.11% vs 19.57% for IWY. On fees, IWY is cheaper at 0.20% per year. On volatility, IWY has been the lower-risk option at 3.69%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IYW has performed better with a 26.11% return vs 19.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IWY is cheaper with a 0.20% expense ratio, compared with 0.38% for IYW.
IWY has the higher dividend yield at 0.33%, compared with 0.11% for IYW.
IWY is categorized as Large Cap Growth Equities, while IYW is Technology Equities. IWY tracks Russell Top 200 Growth Index, while IYW tracks Russell 1000 Technology RIC 22.5/45 Capped Index. Their fees differ too: 0.20% for IWY and 0.38% for IYW.
IYW currently has the higher Sharpe Ratio (2.98 vs 1.73), 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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