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IYY vs. IWM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IYY vs. IWM

Last updated Jun 4, 2026

IYY (iShares Dow Jones U.S. ETF) and IWM (iShares Russell 2000 ETF) are both exchange-traded funds - IYY is a Large Cap Blend Equities fund tracking the Dow Jones U.S. Index, while IWM is a Small Cap Blend Equities fund tracking the Russell 2000 Index. Both are passively managed. Over the past 10 years, IYY returned 15.01%/yr vs 10.93%/yr for IWM. Their correlation of 0.87 suggests significant overlap in exposure. IYY charges 0.20%/yr vs 0.19%/yr for IWM.

Performance

IYY vs. IWM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Dow Jones U.S. ETF (IYY) and iShares Russell 2000 ETF (IWM). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IYY achieves a 10.92% return, which is significantly lower than IWM's 17.07% return. Over the past 10 years, IYY has outperformed IWM with an annualized return of 15.01%, while IWM has yielded a comparatively lower 10.93% annualized return.

IYY

1D
-0.73%
1M
5.06%
YTD
10.92%
6M
10.83%
1Y
27.47%
3Y*
22.10%
5Y*
12.92%
10Y*
15.01%

IWM

1D
-1.37%
1M
3.52%
YTD
17.07%
6M
15.83%
1Y
39.10%
3Y*
17.88%
5Y*
6.11%
10Y*
10.93%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IYY vs. IWM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IYY
iShares Dow Jones U.S. ETF		10.92%17.08%24.15%26.48%-19.57%26.38%20.10%30.78%-5.16%21.33%
IWM
iShares Russell 2000 ETF		17.07%12.66%11.38%16.83%-20.48%14.54%20.03%25.39%-11.12%14.58%

Correlation

The correlation between IYY and IWM is 0.82, 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

0.82

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

0.80

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

0.84

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

0.84

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

0.87

The correlation between IYY and IWM has been stable across timeframes, ranging from 0.80 to 0.87 - a consistent structural relationship.

IYY vs. IWM - Sectors Allocation Comparison

Sectors
IYY
IWM

Technology

34.8%
19.5%

Financial Services

12.0%
15.8%

Communication Services

10.7%
2.0%

Consumer Cyclical

10.2%
7.8%

Industrials

9.0%
17.1%

Healthcare

8.6%
15.8%

Consumer Defensive

4.8%
2.1%

Energy

3.6%
6.0%

Utilities

2.3%
3.0%

Real Estate

2.2%
5.7%

Basic Materials

2.0%
4.5%

Technology

IYY
34.8%
IWM
19.5%

Financial Services

IYY
12.0%
IWM
15.8%

Communication Services

IYY
10.7%
IWM
2.0%

Consumer Cyclical

IYY
10.2%
IWM
7.8%

Industrials

IYY
9.0%
IWM
17.1%

Healthcare

IYY
8.6%
IWM
15.8%

Consumer Defensive

IYY
4.8%
IWM
2.1%

Energy

IYY
3.6%
IWM
6.0%

Utilities

IYY
2.3%
IWM
3.0%

Real Estate

IYY
2.2%
IWM
5.7%

Basic Materials

IYY
2.0%
IWM
4.5%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Dow Jones U.S. ETF

iShares Russell 2000 ETF

Often compared with IYY:
IYY vs. DIAIYY vs. VOOIYY vs. VTIIYY vs. IYMIYY vs. QQQIYY vs. CIND.LIYY vs. SCHB
Often compared with IWM:
IWM vs. SPYIWM vs. VTWOIWM vs. IJRIWM vs. AVUVIWM vs. IWNIWM vs. VOOIWM vs. IWO

Return for Risk

IYY vs. IWM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IYY
IYY Risk / Return Rank: 6868
Overall Rank
IYY Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
IYY Sortino Ratio Rank: 6868
Sortino Ratio Rank
IYY Omega Ratio Rank: 6868
Omega Ratio Rank
IYY Calmar Ratio Rank: 6161
Calmar Ratio Rank
IYY Martin Ratio Rank: 7474
Martin Ratio Rank
IWM
IWM Risk / Return Rank: 6262
Overall Rank
IWM Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
IWM Sortino Ratio Rank: 5959
Sortino Ratio Rank
IWM Omega Ratio Rank: 5353
Omega Ratio Rank
IWM Calmar Ratio Rank: 7070
Calmar Ratio Rank
IWM Martin Ratio Rank: 6767
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.

IYY vs. IWM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Dow Jones U.S. ETF (IYY) and iShares Russell 2000 ETF (IWM). 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.

IYYIWMDifference
Sharpe ratioReturn per unit of total volatility
2.30
2.05

+0.25

Sortino ratioReturn per unit of downside risk
3.16
2.85

+0.30

Omega ratioGain probability vs. loss probability

1.42

1.34

+0.08

Calmar ratioReturn relative to maximum drawdown

3.09

3.56

-0.48

Martin ratioReturn relative to average drawdown

14.19

12.64

+1.55

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IYY vs. IWM - Sharpe Ratio Comparison

The current IYY Sharpe Ratio is 2.30, which is comparable to the IWM Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of IYY and IWM, 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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Sharpe Ratios by Period

IYYIWMDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.30

2.05

+0.25

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.76

0.27

+0.49

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.83

0.48

+0.35

Sharpe Ratio (All Time)

Calculated using the full available price history

0.44

0.37

+0.08

Drawdowns

IYY vs. IWM - Drawdown Comparison

The maximum IYY drawdown since its inception was -55.17%, smaller than the maximum IWM drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for IYY and IWM.

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Drawdown Indicators

IYYIWMDifference

Max Drawdown

Largest peak-to-trough decline

-55.17%

-59.05%

+3.88%

Max Drawdown (1Y)

Largest decline over 1 year

-8.94%

-11.03%

+2.09%

Max Drawdown (3Y)

Largest decline over 3 years

-19.06%

-27.50%

+8.44%

Max Drawdown (5Y)

Largest decline over 5 years

-25.46%

-31.91%

+6.45%

Max Drawdown (10Y)

Largest decline over 10 years

-34.90%

-41.13%

+6.23%

Current Drawdown

Current decline from peak

-0.73%

-1.49%

+0.76%

Average Drawdown

Average peak-to-trough decline

-10.84%

-10.77%

-0.07%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.94%

3.10%

-1.16%

Volatility

IYY vs. IWM - Volatility Comparison

The current volatility for iShares Dow Jones U.S. ETF (IYY) is 2.93%, while iShares Russell 2000 ETF (IWM) has a volatility of 5.75%. This indicates that IYY experiences smaller price fluctuations and is considered to be less risky than IWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IYYIWMDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.93%

5.75%

-2.82%

Volatility (6M)

Calculated over the trailing 6-month period

9.04%

13.53%

-4.49%

Volatility (1Y)

Calculated over the trailing 1-year period

12.01%

19.20%

-7.19%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.12%

22.52%

-5.40%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.16%

23.04%

-4.88%

IYY vs. IWM - Expense Ratio Comparison

IYY has a 0.20% expense ratio, which is higher than IWM's 0.19% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IYY vs. IWM - Dividend Comparison

IYY's dividend yield for the trailing twelve months is around 0.87%, less than IWM's 0.88% yield.

PositionTTM20252024202320222021202020192018201720162015
IWM
iShares Russell 2000 ETF		0.88%1.04%1.15%1.35%1.48%0.94%1.04%1.26%1.40%1.26%1.38%1.54%
IYY
iShares Dow Jones U.S. ETF		0.87%0.95%1.05%1.29%1.48%1.04%1.31%1.80%1.97%1.62%1.81%1.97%

Frequently Asked Questions

IYY and IWM have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IWM has higher volatility (5.75%) compared to IYY (2.93%). In terms of maximum drawdown, IYY dropped -55.17% vs IWM's -59.05%.

On 10-year performance, IYY leads with 15.01% vs 10.93% for IWM. On fees, IWM is cheaper at 0.19% per year. On volatility, IYY has been the lower-risk option at 2.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IYY has performed better with a 15.01% return vs 10.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IWM is cheaper with a 0.19% expense ratio, compared with 0.20% for IYY.

IWM has the higher dividend yield at 0.88%, compared with 0.87% for IYY.

IYY is categorized as Large Cap Blend Equities, while IWM is Small Cap Blend Equities. IYY tracks Dow Jones U.S. Index, while IWM tracks Russell 2000 Index. Their fees differ too: 0.20% for IYY and 0.19% for IWM.

IYY currently has the higher Sharpe Ratio (2.30 vs 2.05), 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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