IYF vs. IYC

Last updated Jun 14, 2026

IYF (iShares U.S. Financials ETF) and IYC (iShares U.S. Consumer Discretionary ETF) are both exchange-traded funds - IYF is a Financials Equities fund tracking the Dow Jones U.S. Financials Index, while IYC is a Consumer Discretionary Equities fund tracking the Dow Jones U.S. Consumer Services Index. Both are passively managed. Over the past 10 years, IYF returned 13.53%/yr vs 11.83%/yr for IYC. A 0.74 correlation means they provide meaningful diversification when combined. IYF charges 0.42%/yr vs 0.38%/yr for IYC.

Performance

IYF vs. IYC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Financials ETF (IYF) and iShares U.S. Consumer Discretionary ETF (IYC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IYF achieves a -0.19% return, which is significantly higher than IYC's -1.40% return. Over the past 10 years, IYF has outperformed IYC with an annualized return of 13.53%, while IYC has yielded a comparatively lower 11.83% annualized return.

IYF

• 1D: 1.38%
• 1M: 4.53%
• YTD: -0.19%
• 6M: -0.21%
• 1Y: 13.73%
• 3Y*: 21.71%
• 5Y*: 10.87%
• 10Y*: 13.53%

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%

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

IYF vs. IYC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IYF iShares U.S. Financials ETF	-0.19%	18.25%	31.30%	15.32%	-11.33%	31.60%	-1.00%	31.86%	-9.39%	19.58%
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%

Correlation

The correlation between IYF and IYC is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.71
Correlation (All Time) Calculated using the full available price history since Jun 28, 2000	0.74

The correlation between IYF and IYC shifts across timeframes, from 0.63 (3 years) to 0.74 (all time), reflecting how their relationship changes across market environments.

IYF vs. IYC - Sectors Allocation Comparison

Sectors	IYF	IYC
Financial Services	99.1%	-
Real Estate	0.6%	-
Technology	0.3%	3.7%
Basic Materials	-	-
Communication Services	-	13.6%
Consumer Cyclical	-	67.4%
Consumer Defensive	-	11.4%
Energy	-	0.1%
Healthcare	-	-
Industrials	-	3.5%
Utilities	-	-

Return for Risk

IYF vs. IYC — Risk / Return Rank

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

IYF

IYF Risk / Return Rank: 24
IYF Sharpe Ratio Rank: 27
IYF Sortino Ratio Rank: 25
IYF Omega Ratio Rank: 25
IYF Calmar Ratio Rank: 22
IYF Martin Ratio Rank: 22

IYC

IYC Risk / Return Rank: 15
IYC Sharpe Ratio Rank: 16
IYC Sortino Ratio Rank: 15
IYC Omega Ratio Rank: 14
IYC Calmar Ratio Rank: 15
IYC Martin Ratio Rank: 16

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.

IYF vs. IYC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Financials ETF (IYF) and iShares U.S. Consumer Discretionary ETF (IYC). 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.

	IYF	IYC	Difference
Sharpe ratio: Return per unit of total volatility	0.84	0.36	+0.48
Sortino ratio: Return per unit of downside risk	1.21	0.62	+0.59
Omega ratio: Gain probability vs. loss probability	1.15	1.07	+0.08
Calmar ratio: Return relative to maximum drawdown	0.88	0.44	+0.44
Martin ratio: Return relative to average drawdown	2.38	1.28	+1.10

IYF vs. IYC - Sharpe Ratio Comparison

The current IYF Sharpe Ratio is 0.84, which is higher than the IYC Sharpe Ratio of 0.36. The chart below compares the historical Sharpe Ratios of IYF and IYC, 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

IYF vs. IYC - Drawdown Comparison

The maximum IYF drawdown since its inception was -79.09%, which is greater than IYC's maximum drawdown of -53.10%. Use the drawdown chart below to compare losses from any high point for IYF and IYC.

Drawdown Indicators

	IYF	IYC	Difference
Max Drawdown Largest peak-to-trough decline	-79.09%	-53.10%	-25.99%
Max Drawdown (1Y) Largest decline over 1 year	-13.88%	-11.97%	-1.91%
Max Drawdown (3Y) Largest decline over 3 years	-16.60%	-21.62%	+5.02%
Max Drawdown (5Y) Largest decline over 5 years	-25.06%	-35.90%	+10.84%
Max Drawdown (10Y) Largest decline over 10 years	-42.57%	-35.90%	-6.67%
Current Drawdown Current decline from peak	-3.25%	-5.12%	+1.87%
Average Drawdown Average peak-to-trough decline	-17.59%	-9.95%	-7.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.13%	4.08%	+1.05%

Volatility

IYF vs. IYC - Volatility Comparison

iShares U.S. Financials ETF (IYF) and iShares U.S. Consumer Discretionary ETF (IYC) have volatilities of 4.27% and 4.33%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IYF	IYC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.27%	4.33%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	11.12%	10.74%	+0.38%
Volatility (1Y) Calculated over the trailing 1-year period	14.58%	14.44%	+0.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.04%	20.74%	-1.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.90%	19.90%	+1.00%

IYF vs. IYC - Expense Ratio Comparison

IYF has a 0.42% expense ratio, which is higher than IYC's 0.38% expense ratio.

Dividends

IYF vs. IYC - Dividend Comparison

IYF's dividend yield for the trailing twelve months is around 1.49%, more than IYC's 0.50% 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%
IYF iShares U.S. Financials ETF	1.49%	1.32%	1.29%	1.67%	1.86%	1.27%	1.72%	1.64%	1.90%	1.46%	1.67%	1.66%

Frequently Asked Questions

Can I hold both IYF and IYC in my portfolio?

IYF and IYC have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IYF or IYC?

IYC has higher volatility (4.33%) compared to IYF (4.27%). In terms of maximum drawdown, IYF dropped -79.09% vs IYC's -53.10%.

Which ETF is better, IYF or IYC?

On 10-year performance, IYF leads with 13.53% vs 11.83% for IYC. On fees, IYC is cheaper at 0.38% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IYF or IYC?

Over the 10-year period, IYF has performed better with a 13.53% return vs 11.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IYF or IYC?

IYC is cheaper with a 0.38% expense ratio, compared with 0.42% for IYF.

Which ETF pays a higher dividend yield, IYF or IYC?

IYF has the higher dividend yield at 1.49%, compared with 0.50% for IYC.

What is the main difference between IYF and IYC?

IYF is categorized as Financials Equities, while IYC is Consumer Discretionary Equities. IYF tracks Dow Jones U.S. Financials Index, while IYC tracks Dow Jones U.S. Consumer Services Index. Their fees differ too: 0.42% for IYF and 0.38% for IYC.

Which has better risk-adjusted returns?

IYF currently has the higher Sharpe Ratio (0.84 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.