IYW vs. IETC

Last updated Jun 3, 2026

IYW (iShares U.S. Technology ETF) and IETC (iShares Evolved U.S. Technology ETF) are both Technology Equities funds from iShares. IYW is passively managed, while IETC is actively managed. Over the past 5 years, IYW returned 23.59%/yr vs 19.15%/yr for IETC. With a 0.96 correlation, they move nearly in lockstep. IYW charges 0.38%/yr vs 0.18%/yr for IETC.

Performance

IYW vs. IETC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Technology ETF (IYW) and iShares Evolved U.S. Technology ETF (IETC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IYW achieves a 30.23% return, which is significantly higher than IETC's 16.36% return.

IYW

• 1D: 0.76%
• 1M: 17.61%
• YTD: 30.23%
• 6M: 29.45%
• 1Y: 63.02%
• 3Y*: 35.66%
• 5Y*: 23.59%
• 10Y*: 26.22%

IETC

• 1D: -0.13%
• 1M: 14.36%
• YTD: 16.36%
• 6M: 15.89%
• 1Y: 34.78%
• 3Y*: 31.47%
• 5Y*: 19.15%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IYW vs. IETC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
IYW iShares U.S. Technology ETF	30.23%	25.38%	30.25%	65.44%	-34.83%	35.44%	47.45%	46.64%	-2.88%
IETC iShares Evolved U.S. Technology ETF	16.36%	19.56%	37.57%	54.35%	-32.78%	29.73%	46.59%	43.09%	-3.52%

Correlation

The correlation between IYW and IETC is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Mar 26, 2018	0.96

The correlation between IYW and IETC has been stable across timeframes, ranging from 0.91 to 0.96 - a consistent structural relationship.

Return for Risk

IYW vs. IETC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IYW

IYW Risk / Return Rank: 79
IYW Sharpe Ratio Rank: 90
IYW Sortino Ratio Rank: 85
IYW Omega Ratio Rank: 83
IYW Calmar Ratio Rank: 72
IYW Martin Ratio Rank: 65

IETC

IETC Risk / Return Rank: 40
IETC Sharpe Ratio Rank: 48
IETC Sortino Ratio Rank: 45
IETC Omega Ratio Rank: 44
IETC Calmar Ratio Rank: 34
IETC Martin Ratio Rank: 31

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.

IYW vs. IETC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Technology ETF (IYW) and iShares Evolved U.S. Technology ETF (IETC). 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.

	IYW	IETC	Difference
Sharpe ratio Return per unit of total volatility	3.16	1.67	+1.49
Sortino ratio Return per unit of downside risk	3.87	2.23	+1.64
Omega ratio Gain probability vs. loss probability	1.51	1.28	+0.23
Calmar ratio Return relative to maximum drawdown	3.62	1.69	+1.93
Martin ratio Return relative to average drawdown	11.88	4.77	+7.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IYW vs. IETC - Sharpe Ratio Comparison

The current IYW Sharpe Ratio is 3.16, which is higher than the IETC Sharpe Ratio of 1.67. The chart below compares the historical Sharpe Ratios of IYW and IETC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IYW	IETC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.16	1.67	+1.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.92	0.79	+0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.05	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.88	-0.53

Drawdowns

IYW vs. IETC - Drawdown Comparison

The maximum IYW drawdown since its inception was -81.90%, which is greater than IETC's maximum drawdown of -38.48%. Use the drawdown chart below to compare losses from any high point for IYW and IETC.

Drawdown Indicators

	IYW	IETC	Difference
Max Drawdown Largest peak-to-trough decline	-81.90%	-38.48%	-43.42%
Max Drawdown (1Y) Largest decline over 1 year	-17.81%	-21.19%	+3.38%
Max Drawdown (3Y) Largest decline over 3 years	-26.47%	-25.17%	-1.30%
Max Drawdown (5Y) Largest decline over 5 years	-39.44%	-38.48%	-0.96%
Max Drawdown (10Y) Largest decline over 10 years	-39.44%	—	—
Current Drawdown Current decline from peak	0.00%	-0.13%	+0.13%
Average Drawdown Average peak-to-trough decline	-34.66%	-8.14%	-26.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.43%	7.51%	-2.08%

Volatility

IYW vs. IETC - Volatility Comparison

iShares U.S. Technology ETF (IYW) has a higher volatility of 6.11% compared to iShares Evolved U.S. Technology ETF (IETC) at 5.80%. This indicates that IYW's price experiences larger fluctuations and is considered to be riskier than IETC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IYW	IETC	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.11%	5.80%	+0.31%
Volatility (6M) Calculated over the trailing 6-month period	15.81%	16.34%	-0.53%
Volatility (1Y) Calculated over the trailing 1-year period	20.07%	20.93%	-0.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.87%	24.52%	+1.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.10%	25.37%	-0.27%

IYW vs. IETC - Expense Ratio Comparison

IYW has a 0.38% expense ratio, which is higher than IETC's 0.18% expense ratio.

Dividends

IYW vs. IETC - Dividend Comparison

IYW's dividend yield for the trailing twelve months is around 0.10%, less than IETC's 0.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IETC iShares Evolved U.S. Technology ETF	0.33%	0.38%	0.52%	0.79%	0.92%	0.73%	0.48%	0.95%	1.27%	0.00%	0.00%	0.00%
IYW iShares U.S. Technology ETF	0.10%	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

Can I hold both IYW and IETC in my portfolio?

With a correlation of 0.91, IYW and IETC 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.

Which is riskier, IYW or IETC?

IYW has higher volatility (6.11%) compared to IETC (5.80%). In terms of maximum drawdown, IYW dropped -81.90% vs IETC's -38.48%.

Which ETF is better, IYW or IETC?

On 5-year performance, IYW leads with 23.59% vs 19.15% for IETC. On fees, IETC is cheaper at 0.18% per year. On volatility, IETC has been the lower-risk option at 5.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IYW or IETC?

Over the 5-year period, IYW has performed better with a 23.59% return vs 19.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IYW or IETC?

IETC is cheaper with a 0.18% expense ratio, compared with 0.38% for IYW.

Which ETF pays a higher dividend yield, IYW or IETC?

IETC has the higher dividend yield at 0.33%, compared with 0.10% for IYW.

What is the main difference between IYW and IETC?

Their fees differ too: 0.38% for IYW and 0.18% for IETC.

Which has better risk-adjusted returns?

IYW currently has the higher Sharpe Ratio (3.16 vs 1.67), 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.