IYW vs. IYC
IYW (iShares U.S. Technology ETF) and IYC (iShares U.S. Consumer Discretionary ETF) are both exchange-traded funds - IYW is a Technology Equities fund tracking the Russell 1000 Technology RIC 22.5/45 Capped Index, while IYC is a Consumer Discretionary Equities fund tracking the Dow Jones U.S. Consumer Services Index. Both are passively managed. Over the past 10 years, IYW returned 24.67%/yr vs 11.11%/yr for IYC. A 0.73 correlation means they provide meaningful diversification when combined. Both charge a 0.38% expense ratio.
Performance
IYW vs. IYC - Performance Comparison
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Returns By Period
In the year-to-date period, IYW achieves a 20.26% return, which is significantly higher than IYC's -3.06% return. Over the past 10 years, IYW has outperformed IYC with an annualized return of 24.67%, while IYC has yielded a comparatively lower 11.11% annualized return.
IYW
- 1D
- 0.31%
- 1M
- -5.36%
- 6M
- 20.13%
- YTD
- 20.26%
- 1Y
- 34.44%
- 3Y*
- 29.86%
- 5Y*
- 19.12%
- 10Y*
- 24.67%
- ALL TIME*
- 9.20%
IYC
- 1D
- -0.67%
- 1M
- -1.61%
- 6M
- -5.68%
- YTD
- -3.06%
- 1Y
- -0.35%
- 3Y*
- 12.08%
- 5Y*
- 5.56%
- 10Y*
- 11.11%
- ALL TIME*
- 8.37%
IYW vs. IYC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IYW iShares U.S. Technology ETF | 20.26% | 25.38% | 30.25% | 65.44% | -34.83% | 35.44% | 47.45% | 46.64% | -0.93% | 36.60% |
IYC iShares U.S. Consumer Discretionary ETF | -3.06% | 7.85% | 27.54% | 34.03% | -31.78% | 19.65% | 24.58% | 27.36% | 1.76% | 19.87% |
Correlation
The correlation between IYW and IYC is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2000 | 0.73 |
Over the past year, the correlation between IYW and IYC has dropped to 0.46 - well below their long-term average of 0.73, suggesting their price drivers have been diverging.
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Return for Risk
IYW vs. IYC — Risk / Return Rank
IYW
IYC
IYW vs. IYC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Technology ETF (IYW) and iShares U.S. Consumer Discretionary ETF (IYC). 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 | IYC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.52 | ||
| Sortino ratioReturn per unit of downside risk | +1.94 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.01 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 1.94 | -0.03 | +1.97 |
| Martin ratioReturn relative to average drawdown | 5.97 | -0.08 | +6.05 |
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Drawdowns
IYW vs. IYC - Drawdown Comparison
The maximum IYW drawdown since its inception was -81.90%, which is greater than IYC's maximum drawdown of -53.10%. Use the drawdown chart below to compare losses from any high point for IYW and IYC.
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Drawdown Indicators
| IYW | IYC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.90% | -53.10% | -28.80% |
Max Drawdown (1Y)Largest decline over 1 year | -17.81% | -11.97% | -5.84% |
Max Drawdown (3Y)Largest decline over 3 years | -26.47% | -21.62% | -4.85% |
Max Drawdown (5Y)Largest decline over 5 years | -39.44% | -35.90% | -3.54% |
Max Drawdown (10Y)Largest decline over 10 years | -39.44% | -35.90% | -3.54% |
Current DrawdownCurrent decline from peak | -7.66% | -6.72% | -0.94% |
Average DrawdownAverage peak-to-trough decline | -34.51% | -9.93% | -24.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.78% | 4.43% | +1.35% |
Volatility
IYW vs. IYC - Volatility Comparison
iShares U.S. Technology ETF (IYW) has a higher volatility of 8.60% compared to iShares U.S. Consumer Discretionary ETF (IYC) at 4.46%. This indicates that IYW's price experiences larger fluctuations and is considered to be riskier than IYC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IYW | IYC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.60% | 4.46% | +4.14% |
Volatility (6M)Calculated over the trailing 6-month period | 19.42% | 11.45% | +7.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.17% | 14.81% | +8.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.37% | 20.82% | +5.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.30% | 19.91% | +5.39% |
IYW vs. IYC - Expense Ratio Comparison
Both IYW and IYC have an expense ratio of 0.38%.
Dividends
IYW vs. IYC - Dividend Comparison
IYW's dividend yield for the trailing twelve months is around 0.11%, less than IYC's 0.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IYC iShares U.S. Consumer Discretionary ETF | 0.51% | 0.51% | 0.47% | 0.68% | 0.68% | 0.39% | 0.65% | 0.89% | 0.90% | 0.92% | 1.10% | 1.03% |
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 IYC have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IYW has higher volatility (8.60%) compared to IYC (4.46%). In terms of maximum drawdown, IYW dropped -81.90% vs IYC's -53.10%.
On 10-year performance, IYW leads with 24.67% vs 11.11% for IYC. Both ETFs have the same 0.38% expense ratio. On volatility, IYC has been the lower-risk option at 4.46%. 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 24.67% return vs 11.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYW and IYC have the same expense ratio: 0.38% per year.
IYC has the higher dividend yield at 0.51%, compared with 0.11% for IYW.
IYW is categorized as Technology Equities, while IYC is Consumer Discretionary Equities. IYW tracks Russell 1000 Technology RIC 22.5/45 Capped Index, while IYC tracks Dow Jones U.S. Consumer Services Index.
IYW currently has the higher Sharpe Ratio (1.50 vs -0.02), 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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