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IYW vs. MSTR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IYW vs. MSTR

Last updated Jun 13, 2026

IYW (iShares U.S. Technology ETF) is Technology Equities fund tracking the Russell 1000 Technology RIC 22.5/45 Capped Index, while MSTR (Strategy Inc) is a stock. Over the past 10 years, IYW returned 25.63%/yr vs 20.92%/yr for MSTR. At a 0.50 correlation, their price movements are largely independent.

Performance

IYW vs. MSTR - Performance Comparison

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

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Returns By Period

In the year-to-date period, IYW achieves a 22.66% return, which is significantly higher than MSTR's -18.41% return. Over the past 10 years, IYW has outperformed MSTR with an annualized return of 25.63%, while MSTR has yielded a comparatively lower 20.92% 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%

MSTR

1D
3.18%
1M
-30.37%
YTD
-18.41%
6M
-29.74%
1Y
-67.36%
3Y*
63.46%
5Y*
19.14%
10Y*
20.92%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IYW vs. MSTR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
MSTR
Strategy Inc		-18.41%-47.53%358.54%346.15%-74.00%40.13%172.42%11.65%-2.70%-33.49%

Correlation

The correlation between IYW and MSTR is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.49

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

0.41

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

0.52

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

0.48

Correlation (All Time)
Calculated using the full available price history since May 19, 2000

0.50

The correlation between IYW and MSTR shifts across timeframes, from 0.41 (3 years) to 0.52 (5 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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iShares U.S. Technology ETF

Strategy Inc

Often compared with IYW:
IYW vs. VGTIYW vs. QQQIYW vs. XLKIYW vs. IGMIYW vs. SMHIYW vs. SOXXIYW vs. IWF
Often compared with MSTR:
MSTR vs. BTC-USDMSTR vs. MSTYMSTR vs. TSLAMSTR vs. COINMSTR vs. MSTUMSTR vs. MARAMSTR vs. STRC

Return for Risk

IYW vs. MSTR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IYW
IYW Risk / Return Rank: 6969
Overall Rank
IYW Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
IYW Sortino Ratio Rank: 7373
Sortino Ratio Rank
IYW Omega Ratio Rank: 7474
Omega Ratio Rank
IYW Calmar Ratio Rank: 6262
Calmar Ratio Rank
IYW Martin Ratio Rank: 5656
Martin Ratio Rank
MSTR
MSTR Risk / Return Rank: 88
Overall Rank
MSTR Sharpe Ratio Rank: 66
Sharpe Ratio Rank
MSTR Sortino Ratio Rank: 44
Sortino Ratio Rank
MSTR Omega Ratio Rank: 77
Omega Ratio Rank
MSTR Calmar Ratio Rank: 88
Calmar Ratio Rank
MSTR Martin Ratio Rank: 1313
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.

IYW vs. MSTR - Risk-Adjusted Trends Comparison

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

IYWMSTRDifference
Sharpe ratioReturn per unit of total volatility
2.24
-0.95

+3.19

Sortino ratioReturn per unit of downside risk
2.82
-1.71

+4.52

Omega ratioGain probability vs. loss probability

1.38

0.82

+0.56

Calmar ratioReturn relative to maximum drawdown

2.70

-0.88

+3.59

Martin ratioReturn relative to average drawdown

8.68

-1.27

+9.95

IYW vs. MSTR - Sharpe Ratio Comparison

The current IYW Sharpe Ratio is 2.24, which is higher than the MSTR Sharpe Ratio of -0.95. The chart below compares the historical Sharpe Ratios of IYW and MSTR, 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

IYW vs. MSTR - Drawdown Comparison

The maximum IYW drawdown since its inception was -81.90%, smaller than the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for IYW and MSTR.

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Drawdown Indicators

IYWMSTRDifference

Max Drawdown

Largest peak-to-trough decline

-81.90%

-99.86%

+17.96%

Max Drawdown (1Y)

Largest decline over 1 year

-17.81%

-76.53%

+58.72%

Max Drawdown (3Y)

Largest decline over 3 years

-26.47%

-77.42%

+50.95%

Max Drawdown (5Y)

Largest decline over 5 years

-39.44%

-84.11%

+44.67%

Max Drawdown (10Y)

Largest decline over 10 years

-39.44%

-89.27%

+49.83%

Current Drawdown

Current decline from peak

-5.81%

-73.84%

+68.03%

Average Drawdown

Average peak-to-trough decline

-34.62%

-86.45%

+51.83%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.54%

53.01%

-47.47%

Volatility

IYW vs. MSTR - Volatility Comparison

The current volatility for iShares U.S. Technology ETF (IYW) is 9.41%, while Strategy Inc (MSTR) has a volatility of 21.60%. This indicates that IYW experiences smaller price fluctuations and is considered to be less risky than MSTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IYWMSTRDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.41%

21.60%

-12.19%

Volatility (6M)

Calculated over the trailing 6-month period

17.67%

57.34%

-39.67%

Volatility (1Y)

Calculated over the trailing 1-year period

21.47%

71.15%

-49.68%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

26.07%

90.79%

-64.72%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

25.20%

73.80%

-48.60%

Dividends

IYW vs. MSTR - Dividend Comparison

IYW's dividend yield for the trailing twelve months is around 0.11%, while MSTR has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
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%
MSTR
Strategy Inc		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

IYW and MSTR have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

MSTR has higher volatility (21.60%) compared to IYW (9.41%). In terms of maximum drawdown, IYW dropped -81.90% vs MSTR's -99.86%.

IYW currently has the higher Sharpe Ratio (2.24 vs -0.95), 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.

Portfolio Optimizer

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