JPYUSD=X vs. IWM
JPYUSD=X (JPY/USD) is a currency, while IWM (iShares Russell 2000 ETF) is Small Cap Blend Equities fund tracking the Russell 2000 Index. Over the past 10 years, JPYUSD=X returned -4.16%/yr vs 10.65%/yr for IWM. At a correlation of -0.21, they often move in opposite directions.
Performance
JPYUSD=X vs. IWM - Performance Comparison
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Returns By Period
In the year-to-date period, JPYUSD=X achieves a -3.56% return, which is significantly lower than IWM's 19.24% return. Over the past 10 years, JPYUSD=X has underperformed IWM with an annualized return of -4.16%, while IWM has yielded a comparatively higher 10.65% annualized return.
JPYUSD=X
- 1D
- -0.08%
- 1M
- -0.70%
- 6M
- -2.66%
- YTD
- -3.56%
- 1Y
- -8.63%
- 3Y*
- -4.43%
- 5Y*
- -7.45%
- 10Y*
- -4.16%
- ALL TIME*
- -1.72%
IWM
- 1D
- -0.59%
- 1M
- -1.11%
- 6M
- 10.45%
- YTD
- 19.24%
- 1Y
- 32.84%
- 3Y*
- 15.91%
- 5Y*
- 6.97%
- 10Y*
- 10.65%
- ALL TIME*
- 8.76%
JPYUSD=X vs. IWM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JPYUSD=X JPY/USD | -3.56% | 0.33% | -10.26% | -7.04% | -12.23% | -10.24% | 5.18% | 0.86% | 2.82% | 3.91% |
IWM iShares Russell 2000 ETF | 19.24% | 12.66% | 11.38% | 16.83% | -20.48% | 14.54% | 20.03% | 25.39% | -11.12% | 14.58% |
Correlation
The correlation between JPYUSD=X and IWM is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since Aug 24, 2007 | -0.21 |
The correlation between JPYUSD=X and IWM shifts across timeframes, from -0.21 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
JPYUSD=X vs. IWM — Risk / Return Rank
JPYUSD=X
IWM
JPYUSD=X vs. IWM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPY/USD (JPYUSD=X) 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.
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.
| JPYUSD=X | IWM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.67 | ||
| Sortino ratioReturn per unit of downside risk | -3.87 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.29 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | -0.71 | 2.99 | -3.70 |
| Martin ratioReturn relative to average drawdown | -1.11 | 10.54 | -11.66 |
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Drawdowns
JPYUSD=X vs. IWM - Drawdown Comparison
The maximum JPYUSD=X drawdown since its inception was -53.20%, smaller than the maximum IWM drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for JPYUSD=X and IWM.
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Drawdown Indicators
| JPYUSD=X | IWM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.20% | -59.05% | +5.85% |
Max Drawdown (1Y)Largest decline over 1 year | -9.90% | -11.03% | +1.13% |
Max Drawdown (3Y)Largest decline over 3 years | -14.17% | -27.50% | +13.33% |
Max Drawdown (5Y)Largest decline over 5 years | -32.94% | -31.91% | -1.03% |
Max Drawdown (10Y)Largest decline over 10 years | -38.53% | -41.13% | +2.60% |
Current DrawdownCurrent decline from peak | -53.17% | -2.71% | -50.46% |
Average DrawdownAverage peak-to-trough decline | -27.24% | -10.72% | -16.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.64% | 3.12% | +3.52% |
Volatility
JPYUSD=X vs. IWM - Volatility Comparison
The current volatility for JPY/USD (JPYUSD=X) is 1.24%, while iShares Russell 2000 ETF (IWM) has a volatility of 3.62%. This indicates that JPYUSD=X 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
| JPYUSD=X | IWM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.24% | 3.62% | -2.38% |
Volatility (6M)Calculated over the trailing 6-month period | 4.40% | 14.17% | -9.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.27% | 19.38% | -12.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.53% | 22.49% | -12.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.68% | 23.00% | -14.32% |
Frequently Asked Questions
JPYUSD=X and IWM have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IWM has higher volatility (3.62%) compared to JPYUSD=X (1.24%). In terms of maximum drawdown, JPYUSD=X dropped -53.20% vs IWM's -59.05%.
IWM currently has the higher Sharpe Ratio (1.71 vs -0.96), 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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