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IYJ vs. IWM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IYJ vs. IWM

Last updated Aug 4, 2026
Documentation

IYJ (iShares U.S. Industrials ETF) and IWM (iShares Russell 2000 ETF) are both exchange-traded funds - IYJ is a Industrials Equities fund tracking the Dow Jones U.S. Industrials Index, while IWM is a Small Cap Blend Equities fund tracking the Russell 2000 Index. Both are passively managed. Over the past 10 years, IYJ returned 12.57%/yr vs 10.63%/yr for IWM. Their correlation of 0.84 means they have usually moved in the same direction. IYJ charges 0.38%/yr vs 0.19%/yr for IWM.

Performance

IYJ vs. IWM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Industrials ETF (IYJ) 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, IYJ achieves a 12.88% return, which is significantly lower than IWM's 20.84% return. Over the past 10 years, IYJ has outperformed IWM with an annualized return of 12.57%, while IWM has yielded a comparatively lower 10.63% annualized return.

IYJ

1D
1.71%
1M
0.11%
6M
7.11%
YTD
12.88%
1Y
17.95%
3Y*
16.91%
5Y*
9.36%
10Y*
12.57%
ALL TIME*
8.09%

IWM

1D
1.72%
1M
-0.46%
6M
13.45%
YTD
20.84%
1Y
39.26%
3Y*
16.48%
5Y*
7.64%
10Y*
10.63%
ALL TIME*
8.80%
*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
$6.77B$6.36B$7.44B

IYJ

iShares U.S. Industrials ETF
$23.95M$14.74M$15.31M

IYJ vs. IWM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IYJ
iShares U.S. Industrials ETF		12.88%11.94%17.82%19.94%-13.53%17.02%17.37%32.27%-11.69%23.98%
IWM
iShares Russell 2000 ETF		20.84%12.66%11.38%16.83%-20.48%14.54%20.03%25.39%-11.12%14.58%

Correlation

The correlation between IYJ and IWM is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

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

0.79

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

0.83

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

0.86

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

0.84

Correlation (All Time)
Calculated using the full available price history since Jul 14, 2000

0.84

The correlation between IYJ and IWM has been stable across timeframes, ranging from 0.79 to 0.86 - a consistent structural relationship.

IYJ vs. IWM - Sectors Allocation Comparison

Sectors
IYJ
IWM

Industrials

65.6%
13.7%

Financial Services

17.3%
18.3%

Technology

7.1%
13.6%

Basic Materials

4.5%
4.5%

Utilities

3.3%
2.9%

Consumer Cyclical

1.6%
9.2%

Healthcare

0.4%
20.0%

Consumer Defensive

0.0%
2.8%

Communication Services

-

2.0%

Energy

-

5.6%

Real Estate

-

7.0%

Industrials

IYJ
65.6%
IWM
13.7%

Financial Services

IYJ
17.3%
IWM
18.3%

Technology

IYJ
7.1%
IWM
13.6%

Basic Materials

IYJ
4.5%
IWM
4.5%

Utilities

IYJ
3.3%
IWM
2.9%

Consumer Cyclical

IYJ
1.6%
IWM
9.2%

Healthcare

IYJ
0.4%
IWM
20.0%

Consumer Defensive

IYJ
0.0%
IWM
2.8%

Communication Services

IYJ

-

IWM
2.0%

Energy

IYJ

-

IWM
5.6%

Real Estate

IYJ

-

IWM
7.0%

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. Industrials ETF

iShares Russell 2000 ETF

Often compared with IYJ:
IYJ vs. XLIIYJ vs. VISIYJ vs. EXIIYJ vs. EFIVIYJ vs. FXRIYJ vs. IYKIYJ vs. FXAIX
Often compared with IWM:
IWM vs. SPYIWM vs. VTWOIWM vs. IJRIWM vs. AVUVIWM vs. VOOIWM vs. IWNIWM vs. IWO

Return for Risk

IYJ vs. IWM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
IYJ
IYJ Risk / Return Rank: 4444
Overall Rank
IYJ Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
IYJ Sortino Ratio Rank: 4444
Sortino Ratio Rank
IYJ Omega Ratio Rank: 4040
Omega Ratio Rank
IYJ Calmar Ratio Rank: 4343
Calmar Ratio Rank
IYJ Martin Ratio Rank: 4949
Martin Ratio Rank
IWM
IWM Risk / Return Rank: 8585
Overall Rank
IWM Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
IWM Sortino Ratio Rank: 8585
Sortino Ratio Rank
IWM Omega Ratio Rank: 8080
Omega Ratio Rank
IWM Calmar Ratio Rank: 8888
Calmar Ratio Rank
IWM Martin Ratio Rank: 8686
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.

IYJ vs. IWM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Industrials ETF (IYJ) 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.

IYJIWMDifference
Sharpe ratioReturn per unit of total volatility
1.13
2.04

-0.91

Sortino ratioReturn per unit of downside risk
1.66
2.85

-1.19

Omega ratioGain probability vs. loss probability

1.20

1.34

-0.14

Calmar ratioReturn relative to maximum drawdown

1.58

3.58

-1.99

Martin ratioReturn relative to average drawdown

5.80

12.68

-6.88

IYJ vs. IWM - Sharpe Ratio Comparison

The current IYJ Sharpe Ratio is 1.13, which is lower than the IWM Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of IYJ 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

IYJ vs. IWM - Drawdown Comparison

The maximum IYJ drawdown since its inception was -61.97%, roughly equal to the maximum IWM drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for IYJ and IWM.

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Drawdown Indicators

IYJIWMDifference

Max Drawdown

Largest peak-to-trough decline

-61.97%

-59.05%

-2.92%

Max Drawdown (1Y)

Largest decline over 1 year

-11.39%

-11.03%

-0.36%

Max Drawdown (3Y)

Largest decline over 3 years

-19.67%

-27.50%

+7.83%

Max Drawdown (5Y)

Largest decline over 5 years

-26.24%

-31.91%

+5.67%

Max Drawdown (10Y)

Largest decline over 10 years

-40.20%

-41.13%

+0.93%

Current Drawdown

Current decline from peak

-0.47%

-1.41%

+0.94%

Average Drawdown

Average peak-to-trough decline

-11.15%

-10.71%

-0.44%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.10%

3.11%

-0.01%

Volatility

IYJ vs. IWM - Volatility Comparison

iShares U.S. Industrials ETF (IYJ) has a higher volatility of 4.71% compared to iShares Russell 2000 ETF (IWM) at 4.21%. This indicates that IYJ'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

IYJIWMDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.71%

4.21%

+0.50%

Volatility (6M)

Calculated over the trailing 6-month period

12.78%

14.13%

-1.35%

Volatility (1Y)

Calculated over the trailing 1-year period

16.00%

19.36%

-3.36%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.18%

22.50%

-4.32%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.90%

23.02%

-3.12%

IYJ vs. IWM - Expense Ratio Comparison

IYJ has a 0.38% expense ratio, which is higher than IWM's 0.19% expense ratio.

Dividends

IYJ vs. IWM - Dividend Comparison

IYJ's dividend yield for the trailing twelve months is around 0.70%, less than IWM's 0.90% yield.

PositionTTM20252024202320222021202020192018201720162015
IWM
iShares Russell 2000 ETF		0.90%1.04%1.15%1.35%1.48%0.94%1.04%1.26%1.40%1.26%1.38%1.54%
IYJ
iShares U.S. Industrials ETF		0.70%0.83%0.88%1.05%1.05%0.76%1.01%1.32%1.43%1.29%1.38%1.53%

Frequently Asked Questions

IYJ and IWM have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IYJ has higher volatility (4.71%) compared to IWM (4.21%). In terms of maximum drawdown, IYJ dropped -61.97% vs IWM's -59.05%.

On 10-year performance, IYJ leads with 12.57% vs 10.63% for IWM. On fees, IWM is cheaper at 0.19% per year. On volatility, IWM has been the lower-risk option at 4.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IYJ has performed better with a 12.57% return vs 10.63%. 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 0.38% for IYJ.

IWM has the higher dividend yield at 0.90%, compared with 0.70% for IYJ.

IYJ is categorized as Industrials Equities, while IWM is Small Cap Blend Equities. IYJ tracks Dow Jones U.S. Industrials Index, while IWM tracks Russell 2000 Index. Their fees differ too: 0.38% for IYJ and 0.19% for IWM.

IWM currently has the higher Sharpe Ratio (2.04 vs 1.13), 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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