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IYM vs. SLX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IYM vs. SLX

Last updated Jun 23, 2026

IYM (iShares U.S. Basic Materials ETF) and SLX (VanEck Vectors Steel ETF) are both Materials funds - IYM tracks the Dow Jones U.S. Basic Materials Index while SLX tracks the NYSE Arca Steel Index. Both are passively managed. Over the past 10 years, IYM returned 11.29%/yr vs 19.18%/yr for SLX. Their correlation of 0.83 suggests significant overlap in exposure. IYM charges 0.42%/yr vs 0.56%/yr for SLX.

Performance

IYM vs. SLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Basic Materials ETF (IYM) and VanEck Vectors Steel ETF (SLX). 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 20.88% return, which is significantly lower than SLX's 23.47% return. Over the past 10 years, IYM has underperformed SLX with an annualized return of 11.29%, while SLX has yielded a comparatively higher 19.18% annualized return.

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%

SLX

1D
-0.54%
1M
-1.77%
YTD
23.47%
6M
23.68%
1Y
67.37%
3Y*
22.45%
5Y*
15.96%
10Y*
19.18%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IYM vs. SLX - 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%
SLX
VanEck Vectors Steel ETF		23.47%47.45%-17.94%31.25%14.28%27.69%20.57%12.01%-19.27%24.59%

Correlation

The correlation between IYM and SLX is 0.77, 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

0.77

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

0.79

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

0.82

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

0.79

Correlation (All Time)
Calculated using the full available price history since Oct 17, 2006

0.83

The correlation between IYM and SLX has been stable across timeframes, ranging from 0.77 to 0.83 - a consistent structural relationship.

IYM vs. SLX - Sectors Allocation Comparison

Sectors
IYM
SLX

Basic Materials

83.8%
93.2%

Industrials

12.5%
3.3%

Consumer Cyclical

3.4%

-

Communication Services

-

-

Consumer Defensive

-

-

Energy

-

3.5%

Financial Services

-

-

Healthcare

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Basic Materials

IYM
83.8%
SLX
93.2%

Industrials

IYM
12.5%
SLX
3.3%

Consumer Cyclical

IYM
3.4%
SLX

-

Communication Services

IYM

-

SLX

-

Consumer Defensive

IYM

-

SLX

-

Energy

IYM

-

SLX
3.5%

Financial Services

IYM

-

SLX

-

Healthcare

IYM

-

SLX

-

Real Estate

IYM

-

SLX

-

Technology

IYM

-

SLX

-

Utilities

IYM

-

SLX

-

Compare stocks, funds, or ETFs

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iShares U.S. Basic Materials ETF

VanEck Vectors Steel ETF

Often compared with IYM:
IYM vs. VAWIYM vs. MXIIYM vs. IYYIYM vs. CSDIYM vs. VTIIYM vs. IVVIYM vs. SOXX
Often compared with SLX:
SLX vs. XMESLX vs. COPXSLX vs. CPERSLX vs. FXZSLX vs. REMXSLX vs. ^DJUSSTSLX vs. PPLT

Return for Risk

IYM vs. SLX — 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
SLX
SLX Risk / Return Rank: 8181
Overall Rank
SLX Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
SLX Sortino Ratio Rank: 8181
Sortino Ratio Rank
SLX Omega Ratio Rank: 7878
Omega Ratio Rank
SLX Calmar Ratio Rank: 8282
Calmar Ratio Rank
SLX Martin Ratio Rank: 7676
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. SLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Basic Materials ETF (IYM) and VanEck Vectors Steel ETF (SLX). 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.

IYMSLXDifference
Sharpe ratioReturn per unit of total volatility
1.95
2.71

-0.76

Sortino ratioReturn per unit of downside risk
2.60
3.45

-0.85

Omega ratioGain probability vs. loss probability

1.33

1.44

-0.11

Calmar ratioReturn relative to maximum drawdown

2.80

4.14

-1.34

Martin ratioReturn relative to average drawdown

10.54

14.09

-3.55

IYM vs. SLX - Sharpe Ratio Comparison

The current IYM Sharpe Ratio is 1.95, which is comparable to the SLX Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of IYM and SLX, 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. SLX - Drawdown Comparison

The maximum IYM drawdown since its inception was -67.78%, smaller than the maximum SLX drawdown of -82.14%. Use the drawdown chart below to compare losses from any high point for IYM and SLX.

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Drawdown Indicators

IYMSLXDifference

Max Drawdown

Largest peak-to-trough decline

-67.78%

-82.14%

+14.36%

Max Drawdown (1Y)

Largest decline over 1 year

-13.61%

-16.35%

+2.74%

Max Drawdown (3Y)

Largest decline over 3 years

-23.62%

-27.39%

+3.77%

Max Drawdown (5Y)

Largest decline over 5 years

-29.94%

-33.62%

+3.68%

Max Drawdown (10Y)

Largest decline over 10 years

-42.76%

-61.64%

+18.88%

Current Drawdown

Current decline from peak

-2.07%

-7.74%

+5.67%

Average Drawdown

Average peak-to-trough decline

-11.44%

-38.64%

+27.20%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.61%

4.80%

-1.19%

Volatility

IYM vs. SLX - Volatility Comparison

The current volatility for iShares U.S. Basic Materials ETF (IYM) is 7.05%, while VanEck Vectors Steel ETF (SLX) has a volatility of 9.00%. This indicates that IYM experiences smaller price fluctuations and is considered to be less risky than SLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IYMSLXDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.05%

9.00%

-1.95%

Volatility (6M)

Calculated over the trailing 6-month period

15.71%

19.04%

-3.33%

Volatility (1Y)

Calculated over the trailing 1-year period

19.58%

25.05%

-5.47%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.48%

27.81%

-7.33%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.78%

31.00%

-9.22%

IYM vs. SLX - Expense Ratio Comparison

IYM has a 0.42% expense ratio, which is lower than SLX's 0.56% expense ratio.

Dividends

IYM vs. SLX - Dividend Comparison

IYM's dividend yield for the trailing twelve months is around 1.26%, which matches SLX's 1.26% 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%
SLX
VanEck Vectors Steel ETF		1.26%1.55%3.56%2.80%4.97%7.07%1.87%3.44%6.26%2.50%1.06%5.35%

Frequently Asked Questions

IYM and SLX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SLX has higher volatility (9.00%) compared to IYM (7.05%). In terms of maximum drawdown, IYM dropped -67.78% vs SLX's -82.14%.

On 10-year performance, SLX leads with 19.18% 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, SLX has performed better with a 19.18% 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 0.56% for SLX.

IYM and SLX have nearly identical dividend yields, around 1.26%.

IYM tracks Dow Jones U.S. Basic Materials Index, while SLX tracks NYSE Arca Steel Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.42% for IYM and 0.56% for SLX.

SLX currently has the higher Sharpe Ratio (2.71 vs 1.95), 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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