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IYM vs. MXI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IYM vs. MXI

Last updated Jun 23, 2026

IYM (iShares U.S. Basic Materials ETF) and MXI (iShares Global Materials ETF) are both Materials funds from iShares - IYM tracks the Dow Jones U.S. Basic Materials Index while MXI tracks the S&P Global Materials Index. Both are passively managed. Over the past 10 years, IYM returned 11.29%/yr vs 11.67%/yr for MXI. Their correlation of 0.90 suggests significant overlap in exposure. IYM charges 0.42%/yr vs 0.46%/yr for MXI.

Performance

IYM vs. MXI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Basic Materials ETF (IYM) and iShares Global Materials ETF (MXI). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, IYM achieves a 20.88% return, which is significantly higher than MXI's 14.55% return. Both investments have delivered pretty close results over the past 10 years, with IYM having a 11.29% annualized return and MXI not far ahead at 11.67%.

IYM

1D
-0.12%
1M
2.18%
YTD
20.88%
6M
19.00%
1Y
37.99%
3Y*
14.87%
5Y*
9.23%
10Y*
11.29%

MXI

1D
-0.59%
1M
0.41%
YTD
14.55%
6M
13.63%
1Y
34.71%
3Y*
14.17%
5Y*
7.34%
10Y*
11.67%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IYM vs. MXI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IYM
iShares U.S. Basic Materials ETF		20.88%20.41%-4.54%12.83%-9.15%25.62%17.87%19.22%-16.63%24.83%
MXI
iShares Global Materials ETF		14.55%27.43%-8.25%14.37%-9.09%15.06%22.31%22.19%-16.06%30.33%

Correlation

The correlation between IYM and MXI is 0.92, 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

0.92

Correlation (3Y)
Calculated over the trailing 3-year period

0.90

Correlation (5Y)
Calculated over the trailing 5-year period

0.91

Correlation (10Y)
Calculated over the trailing 10-year period

0.90

Correlation (All Time)
Calculated using the full available price history since Sep 22, 2006

0.90

The correlation between IYM and MXI has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.

IYM vs. MXI - Sectors Allocation Comparison

Sectors
IYM
MXI

Basic Materials

83.8%
95.2%

Industrials

12.5%
0.5%

Consumer Cyclical

3.4%
4.4%

Communication Services

-

-

Consumer Defensive

-

0.6%

Energy

-

-

Financial Services

-

-

Healthcare

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Basic Materials

IYM
83.8%
MXI
95.2%

Industrials

IYM
12.5%
MXI
0.5%

Consumer Cyclical

IYM
3.4%
MXI
4.4%

Communication Services

IYM

-

MXI

-

Consumer Defensive

IYM

-

MXI
0.6%

Energy

IYM

-

MXI

-

Financial Services

IYM

-

MXI

-

Healthcare

IYM

-

MXI

-

Real Estate

IYM

-

MXI

-

Technology

IYM

-

MXI

-

Utilities

IYM

-

MXI

-

Compare stocks, funds, or ETFs

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iShares U.S. Basic Materials ETF

iShares Global Materials ETF

Often compared with IYM:
IYM vs. VAWIYM vs. IYYIYM vs. CSDIYM vs. VTIIYM vs. IVVIYM vs. SOXXIYM vs. VWO
Often compared with MXI:
MXI vs. XLBMXI vs. VAWMXI vs. GNRMXI vs. SPYMXI vs. SPHQMXI vs. XMEMXI vs. FXAIX

Return for Risk

IYM vs. MXI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IYM
IYM Risk / Return Rank: 5858
Overall Rank
IYM Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
IYM Sortino Ratio Rank: 5656
Sortino Ratio Rank
IYM Omega Ratio Rank: 5454
Omega Ratio Rank
IYM Calmar Ratio Rank: 5959
Calmar Ratio Rank
IYM Martin Ratio Rank: 6060
Martin Ratio Rank
MXI
MXI Risk / Return Rank: 4848
Overall Rank
MXI Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
MXI Sortino Ratio Rank: 4646
Sortino Ratio Rank
MXI Omega Ratio Rank: 4848
Omega Ratio Rank
MXI Calmar Ratio Rank: 4545
Calmar Ratio Rank
MXI Martin Ratio Rank: 5050
Martin Ratio Rank
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.

IYM vs. MXI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Basic Materials ETF (IYM) and iShares Global Materials ETF (MXI). 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.

IYMMXIDifference
Sharpe ratioReturn per unit of total volatility
1.95
1.70

+0.25

Sortino ratioReturn per unit of downside risk
2.60
2.23

+0.38

Omega ratioGain probability vs. loss probability

1.33

1.30

+0.03

Calmar ratioReturn relative to maximum drawdown

2.80

2.15

+0.65

Martin ratioReturn relative to average drawdown

10.54

8.36

+2.18

IYM vs. MXI - Sharpe Ratio Comparison

The current IYM Sharpe Ratio is 1.95, which is comparable to the MXI Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of IYM and MXI, 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

IYM vs. MXI - Drawdown Comparison

The maximum IYM drawdown since its inception was -67.78%, roughly equal to the maximum MXI drawdown of -68.44%. Use the drawdown chart below to compare losses from any high point for IYM and MXI.

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Drawdown Indicators

IYMMXIDifference

Max Drawdown

Largest peak-to-trough decline

-67.78%

-68.44%

+0.66%

Max Drawdown (1Y)

Largest decline over 1 year

-13.61%

-16.18%

+2.57%

Max Drawdown (3Y)

Largest decline over 3 years

-23.62%

-22.25%

-1.37%

Max Drawdown (5Y)

Largest decline over 5 years

-29.94%

-28.76%

-1.18%

Max Drawdown (10Y)

Largest decline over 10 years

-42.76%

-39.52%

-3.24%

Current Drawdown

Current decline from peak

-2.07%

-5.01%

+2.94%

Average Drawdown

Average peak-to-trough decline

-11.44%

-18.03%

+6.59%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.61%

4.16%

-0.55%

Volatility

IYM vs. MXI - Volatility Comparison

The current volatility for iShares U.S. Basic Materials ETF (IYM) is 7.05%, while iShares Global Materials ETF (MXI) has a volatility of 7.72%. This indicates that IYM experiences smaller price fluctuations and is considered to be less risky than MXI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IYMMXIDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.05%

7.72%

-0.67%

Volatility (6M)

Calculated over the trailing 6-month period

15.71%

17.74%

-2.03%

Volatility (1Y)

Calculated over the trailing 1-year period

19.58%

20.53%

-0.95%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.48%

19.83%

+0.65%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.78%

20.49%

+1.29%

IYM vs. MXI - Expense Ratio Comparison

IYM has a 0.42% expense ratio, which is lower than MXI's 0.46% expense ratio.

Dividends

IYM vs. MXI - Dividend Comparison

IYM's dividend yield for the trailing twelve months is around 1.26%, less than MXI's 1.67% yield.

PositionTTM20252024202320222021202020192018201720162015
IYM
iShares U.S. Basic Materials ETF		1.26%1.51%1.65%1.77%2.14%1.48%1.39%2.08%1.68%1.43%1.47%2.04%
MXI
iShares Global Materials ETF		1.67%2.22%3.24%2.92%4.84%3.51%1.21%3.64%2.77%1.76%1.31%3.64%

Frequently Asked Questions

With a correlation of 0.92, IYM and MXI 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.

MXI has higher volatility (7.72%) compared to IYM (7.05%). In terms of maximum drawdown, IYM dropped -67.78% vs MXI's -68.44%.

On 10-year performance, MXI leads with 11.67% vs 11.29% for IYM. On fees, IYM is cheaper at 0.42% per year. On volatility, IYM has been the lower-risk option at 7.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, MXI has performed better with a 11.67% return vs 11.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IYM is cheaper with a 0.42% expense ratio, compared with 0.46% for MXI.

MXI has the higher dividend yield at 1.67%, compared with 1.26% for IYM.

IYM tracks Dow Jones U.S. Basic Materials Index, while MXI tracks S&P Global Materials Index. Their fees differ too: 0.42% for IYM and 0.46% for MXI.

IYM currently has the higher Sharpe Ratio (1.95 vs 1.70), 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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