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IYE vs. IWM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IYE vs. IWM

Last updated Aug 5, 2026
Documentation

IYE (iShares U.S. Energy ETF) and IWM (iShares Russell 2000 ETF) are both exchange-traded funds - IYE is a Energy Equities fund tracking the Dow Jones U.S. Oil & Gas Index, while IWM is a Small Cap Blend Equities fund tracking the Russell 2000 Index. Both are passively managed. Over the past 10 years, IYE returned 8.89%/yr vs 10.83%/yr for IWM. Their 0.55 correlation means they have sometimes moved together and sometimes differently. IYE charges 0.42%/yr vs 0.19%/yr for IWM.

Performance

IYE vs. IWM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Energy ETF (IYE) and iShares Russell 2000 ETF (IWM). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IYE achieves a 32.30% return, which is significantly higher than IWM's 23.08% return. Over the past 10 years, IYE has underperformed IWM with an annualized return of 8.89%, while IWM has yielded a comparatively higher 10.83% annualized return.

IYE

1D
-0.35%
1M
9.69%
6M
15.13%
YTD
32.30%
1Y
40.36%
3Y*
13.73%
5Y*
22.20%
10Y*
8.89%
ALL TIME*
7.45%

IWM

1D
1.85%
1M
1.39%
6M
15.29%
YTD
23.08%
1Y
38.74%
3Y*
17.20%
5Y*
7.66%
10Y*
10.83%
ALL TIME*
8.88%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

IWM

iShares Russell 2000 ETF
$6.85B$6.35B$7.43B

IYE

iShares U.S. Energy ETF
$45.57M$48.49M$74.82M

IYE vs. IWM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IYE
iShares U.S. Energy ETF		32.30%7.33%6.06%-2.21%60.21%53.42%-33.49%10.03%-19.37%-1.80%
IWM
iShares Russell 2000 ETF		23.08%12.66%11.38%16.83%-20.48%14.54%20.03%25.39%-11.12%14.58%

Correlation

The correlation between IYE and IWM is -0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

-0.04

Correlation (3Y)
Balances recent behavior with more history.

0.28

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.40

Correlation (10Y)
Provides a long-term view across more market conditions.

0.51

Correlation (All Time)
Calculated using the full available price history since Jun 16, 2000

0.55

The correlation between IYE and IWM shifts across timeframes, from -0.04 (1 year) to 0.55 (all time), reflecting how their relationship changes across market environments.

IYE vs. IWM - Sectors Allocation Comparison

Sectors
IYE
IWM

Energy

98.3%
5.6%

Technology

1.5%
13.6%

Financial Services

0.0%
18.3%

Industrials

0.0%
13.7%

Basic Materials

-

4.5%

Communication Services

-

2.0%

Consumer Cyclical

-

9.2%

Consumer Defensive

-

2.8%

Healthcare

-

20.0%

Real Estate

-

7.0%

Utilities

-

2.9%

Energy

IYE
98.3%
IWM
5.6%

Technology

IYE
1.5%
IWM
13.6%

Financial Services

IYE
0.0%
IWM
18.3%

Industrials

IYE
0.0%
IWM
13.7%

Basic Materials

IYE

-

IWM
4.5%

Communication Services

IYE

-

IWM
2.0%

Consumer Cyclical

IYE

-

IWM
9.2%

Consumer Defensive

IYE

-

IWM
2.8%

Healthcare

IYE

-

IWM
20.0%

Real Estate

IYE

-

IWM
7.0%

Utilities

IYE

-

IWM
2.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares U.S. Energy ETF

iShares Russell 2000 ETF

Often compared with IYE:
IYE vs. XLEIYE vs. VDEIYE vs. IXCIYE vs. FENYIYE vs. OIHIYE vs. IYHIYE vs. XOP
Often compared with IWM:
IWM vs. SPYIWM vs. VTWOIWM vs. IJRIWM vs. AVUVIWM vs. VOOIWM vs. IWNIWM vs. IWO

Return for Risk

IYE vs. IWM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
IYE
IYE Risk / Return Rank: 6868
Overall Rank
IYE Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
IYE Sortino Ratio Rank: 7070
Sortino Ratio Rank
IYE Omega Ratio Rank: 6767
Omega Ratio Rank
IYE Calmar Ratio Rank: 7171
Calmar Ratio Rank
IYE Martin Ratio Rank: 5656
Martin Ratio Rank
IWM
IWM Risk / Return Rank: 7979
Overall Rank
IWM Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
IWM Sortino Ratio Rank: 7979
Sortino Ratio Rank
IWM Omega Ratio Rank: 7272
Omega Ratio Rank
IWM Calmar Ratio Rank: 8484
Calmar Ratio Rank
IWM Martin Ratio Rank: 8383
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IYE vs. IWM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Energy ETF (IYE) and iShares Russell 2000 ETF (IWM). 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.

IYEIWMDifference
Sharpe ratioReturn per unit of total volatility
1.98
2.02

-0.04

Sortino ratioReturn per unit of downside risk
2.56
2.82

-0.26

Omega ratioGain probability vs. loss probability

1.32

1.34

-0.01

Calmar ratioReturn relative to maximum drawdown

2.79

3.53

-0.74

Martin ratioReturn relative to average drawdown

7.37

12.51

-5.14

IYE vs. IWM - Sharpe Ratio Comparison

The current IYE Sharpe Ratio is 1.98, which is comparable to the IWM Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of IYE and IWM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

IYE vs. IWM - Drawdown Comparison

The maximum IYE drawdown since its inception was -73.74%, which is greater than IWM's maximum drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for IYE and IWM.

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Drawdown Indicators

IYEIWMDifference

Max Drawdown

Largest peak-to-trough decline

-73.74%

-59.05%

-14.69%

Max Drawdown (1Y)

Largest decline over 1 year

-14.54%

-11.03%

-3.51%

Max Drawdown (3Y)

Largest decline over 3 years

-20.37%

-27.50%

+7.13%

Max Drawdown (5Y)

Largest decline over 5 years

-25.61%

-31.91%

+6.30%

Max Drawdown (10Y)

Largest decline over 10 years

-68.59%

-41.13%

-27.46%

Current Drawdown

Current decline from peak

-5.49%

0.00%

-5.49%

Average Drawdown

Average peak-to-trough decline

-19.29%

-10.71%

-8.58%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.49%

3.11%

+2.38%

Volatility

IYE vs. IWM - Volatility Comparison

iShares U.S. Energy ETF (IYE) has a higher volatility of 5.96% compared to iShares Russell 2000 ETF (IWM) at 4.58%. This indicates that IYE's price experiences larger fluctuations and is considered to be riskier than IWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IYEIWMDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.96%

4.58%

+1.38%

Volatility (6M)

Calculated over the trailing 6-month period

16.23%

14.21%

+2.02%

Volatility (1Y)

Calculated over the trailing 1-year period

20.46%

19.40%

+1.06%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

25.41%

22.50%

+2.91%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

29.49%

23.02%

+6.47%

IYE vs. IWM - Expense Ratio Comparison

IYE has a 0.42% expense ratio, which is higher than IWM's 0.19% expense ratio.

Dividends

IYE vs. IWM - Dividend Comparison

IYE's dividend yield for the trailing twelve months is around 2.15%, more than IWM's 0.88% yield.

PositionTTM20252024202320222021202020192018201720162015
IWM
iShares Russell 2000 ETF		0.88%1.04%1.15%1.35%1.48%0.94%1.04%1.26%1.40%1.26%1.38%1.54%
IYE
iShares U.S. Energy ETF		2.15%2.85%2.75%2.99%3.37%2.98%4.75%6.60%3.16%2.66%2.11%3.39%

Frequently Asked Questions

IYE and IWM have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IYE has higher volatility (5.96%) compared to IWM (4.58%). In terms of maximum drawdown, IYE dropped -73.74% vs IWM's -59.05%.

On 10-year performance, IWM leads with 10.83% vs 8.89% for IYE. On fees, IWM is cheaper at 0.19% per year. On volatility, IWM has been the lower-risk option at 4.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IWM has performed better with a 10.83% return vs 8.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IWM is cheaper with a 0.19% expense ratio, compared with 0.42% for IYE.

IYE has the higher dividend yield at 2.15%, compared with 0.88% for IWM.

IYE is categorized as Energy Equities, while IWM is Small Cap Blend Equities. IYE tracks Dow Jones U.S. Oil & Gas Index, while IWM tracks Russell 2000 Index. Their fees differ too: 0.42% for IYE and 0.19% for IWM.

IWM currently has the higher Sharpe Ratio (2.02 vs 1.98), 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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