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MXI vs. IYM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MXI vs. IYM

Last updated Jun 24, 2026

MXI (iShares Global Materials ETF) and IYM (iShares U.S. Basic Materials ETF) are both Materials funds from iShares - MXI tracks the S&P Global Materials Index while IYM tracks the Dow Jones U.S. Basic Materials Index. Both are passively managed. Over the past 10 years, MXI returned 11.38%/yr vs 11.01%/yr for IYM. Their correlation of 0.90 suggests significant overlap in exposure. MXI charges 0.46%/yr vs 0.42%/yr for IYM.

Performance

MXI vs. IYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Materials ETF (MXI) and iShares U.S. Basic Materials ETF (IYM). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, MXI achieves a 11.62% return, which is significantly lower than IYM's 17.90% return. Both investments have delivered pretty close results over the past 10 years, with MXI having a 11.38% annualized return and IYM not far behind at 11.01%.

MXI

1D
-2.55%
1M
-2.16%
YTD
11.62%
6M
10.06%
1Y
29.81%
3Y*
13.19%
5Y*
6.60%
10Y*
11.38%

IYM

1D
-2.46%
1M
-0.33%
YTD
17.90%
6M
15.84%
1Y
33.18%
3Y*
13.92%
5Y*
8.59%
10Y*
11.01%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MXI vs. IYM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MXI
iShares Global Materials ETF		11.62%27.43%-8.25%14.37%-9.09%15.06%22.31%22.19%-16.06%30.33%
IYM
iShares U.S. Basic Materials ETF		17.90%20.41%-4.54%12.83%-9.15%25.62%17.87%19.22%-16.63%24.83%

Correlation

The correlation between MXI and IYM is 0.92, 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

0.92

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

0.90

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

0.91

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

0.90

Correlation (All Time)
Calculated using the full available price history since Sep 22, 2006

0.90

The correlation between MXI and IYM has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.

MXI vs. IYM - Sectors Allocation Comparison

Sectors
MXI
IYM

Basic Materials

95.2%
83.8%

Consumer Cyclical

4.4%
3.4%

Consumer Defensive

0.6%

-

Industrials

0.5%
12.5%

Communication Services

-

-

Energy

-

-

Financial Services

-

-

Healthcare

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Basic Materials

MXI
95.2%
IYM
83.8%

Consumer Cyclical

MXI
4.4%
IYM
3.4%

Consumer Defensive

MXI
0.6%
IYM

-

Industrials

MXI
0.5%
IYM
12.5%

Communication Services

MXI

-

IYM

-

Energy

MXI

-

IYM

-

Financial Services

MXI

-

IYM

-

Healthcare

MXI

-

IYM

-

Real Estate

MXI

-

IYM

-

Technology

MXI

-

IYM

-

Utilities

MXI

-

IYM

-

Compare stocks, funds, or ETFs

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

iShares Global Materials ETF

iShares U.S. Basic Materials ETF

Often compared with MXI:
MXI vs. XLBMXI vs. VAWMXI vs. GNRMXI vs. SPYMXI vs. SPHQMXI vs. XMEMXI vs. FXAIX
Often compared with IYM:
IYM vs. VAWIYM vs. IYYIYM vs. CSDIYM vs. VTIIYM vs. IVVIYM vs. SOXXIYM vs. VWO

Return for Risk

MXI vs. IYM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MXI
MXI Risk / Return Rank: 4141
Overall Rank
MXI Sharpe Ratio Rank: 4343
Sharpe Ratio Rank
MXI Sortino Ratio Rank: 3939
Sortino Ratio Rank
MXI Omega Ratio Rank: 4141
Omega Ratio Rank
MXI Calmar Ratio Rank: 3939
Calmar Ratio Rank
MXI Martin Ratio Rank: 4545
Martin Ratio Rank
IYM
IYM Risk / Return Rank: 5151
Overall Rank
IYM Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
IYM Sortino Ratio Rank: 4949
Sortino Ratio Rank
IYM Omega Ratio Rank: 4747
Omega Ratio Rank
IYM Calmar Ratio Rank: 5252
Calmar Ratio Rank
IYM Martin Ratio Rank: 5555
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.

MXI vs. IYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Materials ETF (MXI) and iShares U.S. Basic Materials ETF (IYM). 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.

MXIIYMDifference
Sharpe ratioReturn per unit of total volatility
1.45
1.69

-0.24

Sortino ratioReturn per unit of downside risk
1.94
2.29

-0.36

Omega ratioGain probability vs. loss probability

1.26

1.29

-0.03

Calmar ratioReturn relative to maximum drawdown

1.85

2.45

-0.60

Martin ratioReturn relative to average drawdown

7.13

9.18

-2.04

MXI vs. IYM - Sharpe Ratio Comparison

The current MXI Sharpe Ratio is 1.45, which is comparable to the IYM Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of MXI and IYM, 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

MXI vs. IYM - Drawdown Comparison

The maximum MXI drawdown since its inception was -68.44%, roughly equal to the maximum IYM drawdown of -67.78%. Use the drawdown chart below to compare losses from any high point for MXI and IYM.

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Drawdown Indicators

MXIIYMDifference

Max Drawdown

Largest peak-to-trough decline

-68.44%

-67.78%

-0.66%

Max Drawdown (1Y)

Largest decline over 1 year

-16.18%

-13.61%

-2.57%

Max Drawdown (3Y)

Largest decline over 3 years

-22.25%

-23.62%

+1.37%

Max Drawdown (5Y)

Largest decline over 5 years

-28.76%

-29.94%

+1.18%

Max Drawdown (10Y)

Largest decline over 10 years

-39.52%

-42.76%

+3.24%

Current Drawdown

Current decline from peak

-7.43%

-4.48%

-2.95%

Average Drawdown

Average peak-to-trough decline

-18.03%

-11.44%

-6.59%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.19%

3.63%

+0.56%

Volatility

MXI vs. IYM - Volatility Comparison

iShares Global Materials ETF (MXI) has a higher volatility of 8.08% compared to iShares U.S. Basic Materials ETF (IYM) at 7.49%. This indicates that MXI's price experiences larger fluctuations and is considered to be riskier than IYM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MXIIYMDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.08%

7.49%

+0.59%

Volatility (6M)

Calculated over the trailing 6-month period

17.94%

15.94%

+2.00%

Volatility (1Y)

Calculated over the trailing 1-year period

20.66%

19.72%

+0.94%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.86%

20.51%

-0.65%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.42%

21.74%

-1.32%

MXI vs. IYM - Expense Ratio Comparison

MXI has a 0.46% expense ratio, which is higher than IYM's 0.42% expense ratio.

Dividends

MXI vs. IYM - Dividend Comparison

MXI's dividend yield for the trailing twelve months is around 1.72%, more than IYM's 1.29% yield.

PositionTTM20252024202320222021202020192018201720162015
IYM
iShares U.S. Basic Materials ETF		1.29%1.51%1.65%1.77%2.14%1.48%1.39%2.08%1.68%1.43%1.47%2.04%
MXI
iShares Global Materials ETF		1.72%2.22%3.24%2.92%4.84%3.51%1.21%3.64%2.77%1.76%1.31%3.64%

Frequently Asked Questions

With a correlation of 0.92, MXI and IYM 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.

MXI has higher volatility (8.08%) compared to IYM (7.49%). In terms of maximum drawdown, MXI dropped -68.44% vs IYM's -67.78%.

On 10-year performance, MXI leads with 11.38% vs 11.01% for IYM. On fees, IYM is cheaper at 0.42% per year. On volatility, IYM has been the lower-risk option at 7.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, MXI has performed better with a 11.38% return vs 11.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IYM is cheaper with a 0.42% expense ratio, compared with 0.46% for MXI.

MXI has the higher dividend yield at 1.72%, compared with 1.29% for IYM.

MXI tracks S&P Global Materials Index, while IYM tracks Dow Jones U.S. Basic Materials Index. Their fees differ too: 0.46% for MXI and 0.42% for IYM.

IYM currently has the higher Sharpe Ratio (1.69 vs 1.45), 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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