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IYM vs. MXI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IYM vs. MXI

Last updated Aug 2, 2026
Documentation

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 10.11%/yr vs 10.43%/yr for MXI. Their correlation of 0.90 means they have usually moved in the same direction. 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.

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Returns By Period

In the year-to-date period, IYM achieves a 14.73% return, which is significantly higher than MXI's 10.45% return. Both investments have delivered pretty close results over the past 10 years, with IYM having a 10.11% annualized return and MXI not far ahead at 10.43%.

IYM

1D
-1.96%
1M
-3.54%
6M
3.72%
YTD
14.73%
1Y
28.28%
3Y*
10.20%
5Y*
7.53%
10Y*
10.11%
ALL TIME*
8.27%

MXI

1D
-2.15%
1M
-1.96%
6M
1.26%
YTD
10.45%
1Y
28.15%
3Y*
10.42%
5Y*
5.97%
10Y*
10.43%
ALL TIME*
6.38%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

IYM

iShares U.S. Basic Materials ETF
$17.03M$23.02M$39.39M

MXI

iShares Global Materials ETF
$1.58M$1.75M$2.67M

IYM vs. MXI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IYM
iShares U.S. Basic Materials ETF		14.73%20.41%-4.54%12.83%-9.15%25.62%17.87%19.22%-16.63%24.83%
MXI
iShares Global Materials ETF		10.45%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 0.93, meaning they have usually moved in the same direction, including during past declines.

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

0.93

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

0.90

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

0.91

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

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 0.93 - a consistent structural relationship.

IYM vs. MXI - Sectors Allocation Comparison

Sectors
IYM
MXI

Basic Materials

84.7%
93.7%

Industrials

12.0%
1.0%

Consumer Cyclical

3.3%
4.9%

Communication Services

-

-

Consumer Defensive

-

0.6%

Energy

-

-

Financial Services

-

-

Healthcare

-

-

Real Estate

-

-

Technology

-

0.5%

Utilities

-

-

Basic Materials

IYM
84.7%
MXI
93.7%

Industrials

IYM
12.0%
MXI
1.0%

Consumer Cyclical

IYM
3.3%
MXI
4.9%

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
0.5%

Utilities

IYM

-

MXI

-

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. 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. XLB
Often compared with MXI:
MXI vs. XLBMXI vs. VAWMXI vs. GNRMXI vs. SPYMXI vs. XMEMXI vs. SPHQMXI vs. PYZ

Return for Risk

IYM vs. MXI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
IYM
IYM Risk / Return Rank: 5555
Overall Rank
IYM Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
IYM Sortino Ratio Rank: 5555
Sortino Ratio Rank
IYM Omega Ratio Rank: 5252
Omega Ratio Rank
IYM Calmar Ratio Rank: 5656
Calmar Ratio Rank
IYM Martin Ratio Rank: 5757
Martin Ratio Rank
MXI
MXI Risk / Return Rank: 5151
Overall Rank
MXI Sharpe Ratio Rank: 5555
Sharpe Ratio Rank
MXI Sortino Ratio Rank: 5050
Sortino Ratio Rank
MXI Omega Ratio Rank: 5353
Omega Ratio Rank
MXI Calmar Ratio Rank: 4848
Calmar Ratio Rank
MXI Martin Ratio Rank: 4949
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.

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
1.36
1.33

+0.03

Sortino ratioReturn per unit of downside risk
1.91
1.80

+0.11

Omega ratioGain probability vs. loss probability

1.23

1.23

0.00

Calmar ratioReturn relative to maximum drawdown

1.98

1.72

+0.26

Martin ratioReturn relative to average drawdown

6.68

5.64

+1.04

IYM vs. MXI - Sharpe Ratio Comparison

The current IYM Sharpe Ratio is 1.36, which is comparable to the MXI Sharpe Ratio of 1.33. 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

-7.05%

-8.41%

+1.36%

Average Drawdown

Average peak-to-trough decline

-11.41%

-17.98%

+6.57%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.02%

4.91%

-0.89%

Volatility

IYM vs. MXI - Volatility Comparison

The current volatility for iShares U.S. Basic Materials ETF (IYM) is 5.29%, while iShares Global Materials ETF (MXI) has a volatility of 6.48%. 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

5.29%

6.48%

-1.19%

Volatility (6M)

Calculated over the trailing 6-month period

16.09%

18.38%

-2.29%

Volatility (1Y)

Calculated over the trailing 1-year period

19.88%

20.95%

-1.07%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.51%

19.92%

+0.59%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.72%

20.42%

+1.30%

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 1.33%, less than MXI's 1.73% yield.

PositionTTM20252024202320222021202020192018201720162015
IYM
iShares U.S. Basic Materials ETF		1.33%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		1.73%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 0.93, 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 (6.48%) compared to IYM (5.29%). In terms of maximum drawdown, IYM dropped -67.78% vs MXI's -68.44%.

On 10-year performance, MXI leads with 10.43% vs 10.11% for IYM. On fees, IYM is cheaper at 0.42% per year. On volatility, IYM has been the lower-risk option at 5.29%. 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 10.43% return vs 10.11%. 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 1.73%, compared with 1.33% 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 (1.36 vs 1.33), 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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