IYW vs. AIRR
IYW (iShares U.S. Technology ETF) and AIRR (First Trust RBA American Industrial Renaissance ETF) are both exchange-traded funds - IYW is a Technology Equities fund tracking the Russell 1000 Technology RIC 22.5/45 Capped Index, while AIRR is a Building & Construction fund tracking the Richard Bernstein Advisors American Industrial Renaissance Index. Both are passively managed. Over the past 10 years, IYW returned 25.63%/yr vs 22.05%/yr for AIRR. A 0.56 correlation means they provide meaningful diversification when combined. IYW charges 0.38%/yr vs 0.69%/yr for AIRR.
Performance
IYW vs. AIRR - Performance Comparison
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Returns By Period
In the year-to-date period, IYW achieves a 22.66% return, which is significantly lower than AIRR's 31.74% return. Over the past 10 years, IYW has outperformed AIRR with an annualized return of 25.63%, while AIRR has yielded a comparatively lower 22.05% annualized return.
IYW
- 1D
- 0.61%
- 1M
- 1.73%
- YTD
- 22.66%
- 6M
- 23.40%
- 1Y
- 47.94%
- 3Y*
- 32.06%
- 5Y*
- 21.19%
- 10Y*
- 25.63%
AIRR
- 1D
- 0.83%
- 1M
- -0.02%
- YTD
- 31.74%
- 6M
- 28.77%
- 1Y
- 65.25%
- 3Y*
- 35.29%
- 5Y*
- 25.46%
- 10Y*
- 22.05%
IYW vs. AIRR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IYW iShares U.S. Technology ETF | 22.66% | 25.38% | 30.25% | 65.44% | -34.83% | 35.44% | 47.45% | 46.64% | -0.93% | 36.60% |
AIRR First Trust RBA American Industrial Renaissance ETF | 31.74% | 27.92% | 33.45% | 31.43% | -2.08% | 33.01% | 17.17% | 33.97% | -20.57% | 16.28% |
Correlation
The correlation between IYW and AIRR is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2014 | 0.56 |
The correlation between IYW and AIRR has been stable across timeframes, ranging from 0.54 to 0.60 - a consistent structural relationship.
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Return for Risk
IYW vs. AIRR — Risk / Return Rank
IYW
AIRR
IYW vs. AIRR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Technology ETF (IYW) and First Trust RBA American Industrial Renaissance ETF (AIRR). 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.
| IYW | AIRR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.40 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.70 | 5.01 | -2.31 |
| Martin ratioReturn relative to average drawdown | 8.68 | 18.33 | -9.65 |
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Drawdowns
IYW vs. AIRR - Drawdown Comparison
The maximum IYW drawdown since its inception was -81.90%, which is greater than AIRR's maximum drawdown of -42.37%. Use the drawdown chart below to compare losses from any high point for IYW and AIRR.
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Drawdown Indicators
| IYW | AIRR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.90% | -42.37% | -39.53% |
Max Drawdown (1Y)Largest decline over 1 year | -17.81% | -13.09% | -4.72% |
Max Drawdown (3Y)Largest decline over 3 years | -26.47% | -27.95% | +1.48% |
Max Drawdown (5Y)Largest decline over 5 years | -39.44% | -27.95% | -11.49% |
Max Drawdown (10Y)Largest decline over 10 years | -39.44% | -42.37% | +2.93% |
Current DrawdownCurrent decline from peak | -5.81% | -1.89% | -3.92% |
Average DrawdownAverage peak-to-trough decline | -34.62% | -7.48% | -27.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.54% | 3.57% | +1.97% |
Volatility
IYW vs. AIRR - Volatility Comparison
iShares U.S. Technology ETF (IYW) and First Trust RBA American Industrial Renaissance ETF (AIRR) have volatilities of 9.41% and 9.32%, 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.
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Volatility by Period
| IYW | AIRR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.41% | 9.32% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 17.67% | 20.81% | -3.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.47% | 26.19% | -4.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.07% | 25.45% | +0.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.20% | 26.36% | -1.16% |
IYW vs. AIRR - Expense Ratio Comparison
IYW has a 0.38% expense ratio, which is lower than AIRR's 0.69% expense ratio.
Dividends
IYW vs. AIRR - Dividend Comparison
IYW's dividend yield for the trailing twelve months is around 0.11%, less than AIRR's 0.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AIRR First Trust RBA American Industrial Renaissance ETF | 0.13% | 0.19% | 0.18% | 0.23% | 0.12% | 0.05% | 0.10% | 0.20% | 0.43% | 0.30% | 0.08% | 0.47% |
IYW iShares U.S. Technology ETF | 0.11% | 0.14% | 0.21% | 0.34% | 0.50% | 0.31% | 0.56% | 0.72% | 0.92% | 0.82% | 1.14% | 1.12% |
Frequently Asked Questions
IYW and AIRR have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IYW has higher volatility (9.41%) compared to AIRR (9.32%). In terms of maximum drawdown, IYW dropped -81.90% vs AIRR's -42.37%.
On 10-year performance, IYW leads with 25.63% vs 22.05% for AIRR. On fees, IYW 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.
Over the 10-year period, IYW has performed better with a 25.63% return vs 22.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYW is cheaper with a 0.38% expense ratio, compared with 0.69% for AIRR.
AIRR has the higher dividend yield at 0.13%, compared with 0.11% for IYW.
IYW is categorized as Technology Equities, while AIRR is Building & Construction. IYW tracks Russell 1000 Technology RIC 22.5/45 Capped Index, while AIRR tracks Richard Bernstein Advisors American Industrial Renaissance Index. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.38% for IYW and 0.69% for AIRR.
AIRR currently has the higher Sharpe Ratio (2.50 vs 2.24), 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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