IYW vs. IGM
IYW (iShares U.S. Technology ETF) and IGM (iShares Expanded Tech Sector ETF) are both Technology Equities funds from iShares - IYW tracks the Russell 1000 Technology RIC 22.5/45 Capped Index while IGM tracks the S&P North American Expanded Technology Sector Index. Both are passively managed. Over the past 10 years, IYW returned 25.94%/yr vs 24.86%/yr for IGM. With a 0.97 correlation, they move nearly in lockstep. IYW charges 0.38%/yr vs 0.39%/yr for IGM.
Performance
IYW vs. IGM - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with IYW having a 21.96% return and IGM slightly higher at 22.65%. Both investments have delivered pretty close results over the past 10 years, with IYW having a 25.94% annualized return and IGM not far behind at 24.86%.
IYW
- 1D
- -3.91%
- 1M
- 0.69%
- YTD
- 21.96%
- 6M
- 20.43%
- 1Y
- 47.04%
- 3Y*
- 32.10%
- 5Y*
- 20.32%
- 10Y*
- 25.94%
IGM
- 1D
- -3.56%
- 1M
- 0.74%
- YTD
- 22.65%
- 6M
- 21.02%
- 1Y
- 47.83%
- 3Y*
- 35.67%
- 5Y*
- 19.25%
- 10Y*
- 24.86%
IYW vs. IGM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IYW iShares U.S. Technology ETF | 21.96% | 25.38% | 30.25% | 65.44% | -34.83% | 35.44% | 47.45% | 46.64% | -0.93% | 36.60% |
IGM iShares Expanded Tech Sector ETF | 22.65% | 26.76% | 36.99% | 60.68% | -35.83% | 25.72% | 45.11% | 41.81% | 2.26% | 37.20% |
Correlation
The correlation between IYW and IGM is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Mar 19, 2001 | 0.97 |
The correlation between IYW and IGM has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.
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Return for Risk
IYW vs. IGM — Risk / Return Rank
IYW
IGM
IYW vs. IGM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM). 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 | IGM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.36 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.65 | 2.92 | -0.27 |
| Martin ratioReturn relative to average drawdown | 8.46 | 9.77 | -1.31 |
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Drawdowns
IYW vs. IGM - Drawdown Comparison
The maximum IYW drawdown since its inception was -81.90%, which is greater than IGM's maximum drawdown of -65.59%. Use the drawdown chart below to compare losses from any high point for IYW and IGM.
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Drawdown Indicators
| IYW | IGM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.90% | -65.59% | -16.31% |
Max Drawdown (1Y)Largest decline over 1 year | -17.81% | -16.44% | -1.37% |
Max Drawdown (3Y)Largest decline over 3 years | -26.47% | -26.39% | -0.08% |
Max Drawdown (5Y)Largest decline over 5 years | -39.44% | -40.68% | +1.24% |
Max Drawdown (10Y)Largest decline over 10 years | -39.44% | -40.68% | +1.24% |
Current DrawdownCurrent decline from peak | -6.35% | -7.39% | +1.04% |
Average DrawdownAverage peak-to-trough decline | -34.59% | -15.21% | -19.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.57% | 4.91% | +0.66% |
Volatility
IYW vs. IGM - Volatility Comparison
iShares U.S. Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) have volatilities of 11.15% and 11.53%, 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 | IGM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.15% | 11.53% | -0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 18.45% | 18.67% | -0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.34% | 22.76% | -0.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.24% | 26.07% | +0.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.26% | 24.71% | +0.55% |
IYW vs. IGM - Expense Ratio Comparison
IYW has a 0.38% expense ratio, which is lower than IGM's 0.39% expense ratio.
Dividends
IYW vs. IGM - Dividend Comparison
IYW's dividend yield for the trailing twelve months is around 0.11%, less than IGM's 0.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGM iShares Expanded Tech Sector ETF | 0.14% | 0.17% | 0.22% | 0.33% | 0.66% | 0.16% | 0.32% | 0.50% | 0.57% | 0.57% | 0.90% | 0.79% |
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
With a correlation of 0.98, IYW and IGM 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.
IGM has higher volatility (11.53%) compared to IYW (11.15%). In terms of maximum drawdown, IYW dropped -81.90% vs IGM's -65.59%.
On 10-year performance, IYW leads with 25.94% vs 24.86% for IGM. On fees, IYW is cheaper at 0.38% per year. On volatility, IYW has been the lower-risk option at 11.15%. 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 25.94% return vs 24.86%. 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 0.39% for IGM.
IGM has the higher dividend yield at 0.14%, compared with 0.11% for IYW.
IYW tracks Russell 1000 Technology RIC 22.5/45 Capped Index, while IGM tracks S&P North American Expanded Technology Sector Index. Their fees differ too: 0.38% for IYW and 0.39% for IGM.
IYW currently has the higher Sharpe Ratio (2.12 vs 2.11), 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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