IYC vs. IYZ
IYC (iShares U.S. Consumer Discretionary ETF) and IYZ (iShares U.S. Telecommunications ETF) are both exchange-traded funds - IYC is a Consumer Discretionary Equities fund tracking the Dow Jones U.S. Consumer Services Index, while IYZ is a Communications Equities fund tracking the Dow Jones U.S. Select Telecommunications Index. Both are passively managed. Over the past 10 years, IYC returned 11.83%/yr vs 5.94%/yr for IYZ. A 0.66 correlation means they provide meaningful diversification when combined. IYC charges 0.38%/yr vs 0.42%/yr for IYZ.
Performance
IYC vs. IYZ - Performance Comparison
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Returns By Period
In the year-to-date period, IYC achieves a -1.40% return, which is significantly lower than IYZ's 29.57% return. Over the past 10 years, IYC has outperformed IYZ with an annualized return of 11.83%, while IYZ has yielded a comparatively lower 5.94% annualized return.
IYC
- 1D
- 0.16%
- 1M
- -0.02%
- YTD
- -1.40%
- 6M
- -2.54%
- 1Y
- 6.51%
- 3Y*
- 14.17%
- 5Y*
- 6.41%
- 10Y*
- 11.83%
IYZ
- 1D
- 1.27%
- 1M
- 0.83%
- YTD
- 29.57%
- 6M
- 32.60%
- 1Y
- 58.27%
- 3Y*
- 28.37%
- 5Y*
- 7.57%
- 10Y*
- 5.94%
IYC vs. IYZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IYC iShares U.S. Consumer Discretionary ETF | -1.40% | 7.85% | 27.54% | 34.03% | -31.78% | 19.65% | 24.58% | 27.36% | 1.76% | 19.87% |
IYZ iShares U.S. Telecommunications ETF | 29.57% | 29.28% | 20.53% | 3.90% | -30.29% | 11.69% | 4.13% | 16.14% | -8.59% | -11.86% |
Correlation
The correlation between IYC and IYZ is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2000 | 0.66 |
Over the past year, the correlation between IYC and IYZ has dropped to 0.41 - well below their long-term average of 0.66, suggesting their price drivers have been diverging.
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Return for Risk
IYC vs. IYZ — Risk / Return Rank
IYC
IYZ
IYC vs. IYZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Consumer Discretionary ETF (IYC) and iShares U.S. Telecommunications ETF (IYZ). 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.
| IYC | IYZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.66 | ||
| Sortino ratioReturn per unit of downside risk | -3.33 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.52 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | 0.44 | 6.54 | -6.10 |
| Martin ratioReturn relative to average drawdown | 1.28 | 25.99 | -24.71 |
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Drawdowns
IYC vs. IYZ - Drawdown Comparison
The maximum IYC drawdown since its inception was -53.10%, smaller than the maximum IYZ drawdown of -77.11%. Use the drawdown chart below to compare losses from any high point for IYC and IYZ.
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Drawdown Indicators
| IYC | IYZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.10% | -77.11% | +24.01% |
Max Drawdown (1Y)Largest decline over 1 year | -11.97% | -8.62% | -3.35% |
Max Drawdown (3Y)Largest decline over 3 years | -21.62% | -13.85% | -7.77% |
Max Drawdown (5Y)Largest decline over 5 years | -35.90% | -39.74% | +3.84% |
Max Drawdown (10Y)Largest decline over 10 years | -35.90% | -39.74% | +3.84% |
Current DrawdownCurrent decline from peak | -5.12% | -4.77% | -0.35% |
Average DrawdownAverage peak-to-trough decline | -9.95% | -40.10% | +30.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.08% | 2.17% | +1.91% |
Volatility
IYC vs. IYZ - Volatility Comparison
The current volatility for iShares U.S. Consumer Discretionary ETF (IYC) is 4.33%, while iShares U.S. Telecommunications ETF (IYZ) has a volatility of 8.76%. This indicates that IYC experiences smaller price fluctuations and is considered to be less risky than IYZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IYC | IYZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.33% | 8.76% | -4.43% |
Volatility (6M)Calculated over the trailing 6-month period | 10.74% | 15.61% | -4.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.44% | 18.65% | -4.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.74% | 18.88% | +1.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.90% | 19.30% | +0.60% |
IYC vs. IYZ - Expense Ratio Comparison
IYC has a 0.38% expense ratio, which is lower than IYZ's 0.42% expense ratio.
Dividends
IYC vs. IYZ - Dividend Comparison
IYC's dividend yield for the trailing twelve months is around 0.50%, less than IYZ's 1.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IYC iShares U.S. Consumer Discretionary ETF | 0.50% | 0.51% | 0.47% | 0.68% | 0.68% | 0.39% | 0.65% | 0.89% | 0.90% | 0.92% | 1.10% | 1.03% |
IYZ iShares U.S. Telecommunications ETF | 1.53% | 2.04% | 1.94% | 2.27% | 2.55% | 2.51% | 2.60% | 2.36% | 2.15% | 3.54% | 2.27% | 1.98% |
Frequently Asked Questions
IYC and IYZ have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IYZ has higher volatility (8.76%) compared to IYC (4.33%). In terms of maximum drawdown, IYC dropped -53.10% vs IYZ's -77.11%.
On 10-year performance, IYC leads with 11.83% vs 5.94% for IYZ. On fees, IYC is cheaper at 0.38% per year. On volatility, IYC has been the lower-risk option at 4.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IYC has performed better with a 11.83% return vs 5.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYC is cheaper with a 0.38% expense ratio, compared with 0.42% for IYZ.
IYZ has the higher dividend yield at 1.53%, compared with 0.50% for IYC.
IYC is categorized as Consumer Discretionary Equities, while IYZ is Communications Equities. IYC tracks Dow Jones U.S. Consumer Services Index, while IYZ tracks Dow Jones U.S. Select Telecommunications Index. Their fees differ too: 0.38% for IYC and 0.42% for IYZ.
IYZ currently has the higher Sharpe Ratio (3.02 vs 0.36), 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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