NKLA vs. IWC

Last updated Apr 1, 2026

Compare and contrast key facts about Nikola Corporation (NKLA) and iShares Microcap ETF (IWC).

IWC is a passively managed fund by iShares that tracks the performance of the Russell Microcap Index. It was launched on Aug 12, 2005.

Performance

NKLA vs. IWC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nikola Corporation (NKLA) and iShares Microcap ETF (IWC). The values are adjusted to include any dividend payments, if applicable.

NKLA vs. IWC - Yearly Performance Comparison

	2026 (YTD)
NKLA Nikola Corporation	0.00%
IWC iShares Microcap ETF	-5.33%

Returns By Period

NKLA

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IWC

• 1D: 4.11%
• 1M: -4.95%
• YTD: 1.36%
• 6M: 7.71%
• 1Y: 45.56%
• 3Y*: 16.51%
• 5Y*: 2.52%
• 10Y*: 10.08%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

NKLA vs. IWC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IWC

IWC Risk / Return Rank: 87
IWC Sharpe Ratio Rank: 87
IWC Sortino Ratio Rank: 88
IWC Omega Ratio Rank: 79
IWC Calmar Ratio Rank: 92
IWC Martin Ratio Rank: 89

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.

NKLA vs. IWC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nikola Corporation (NKLA) and iShares Microcap ETF (IWC). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	NKLA	IWC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.74	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.10	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.42	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.28	—

Dividends

NKLA vs. IWC - Dividend Comparison

NKLA has not paid dividends to shareholders, while IWC's dividend yield for the trailing twelve months is around 1.06%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NKLA Nikola Corporation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IWC iShares Microcap ETF	1.06%	1.10%	1.06%	1.17%	1.18%	0.78%	0.98%	1.19%	1.01%	1.09%	1.16%	1.49%

Drawdowns

NKLA vs. IWC - Drawdown Comparison

The maximum NKLA drawdown since its inception was 0.00%, smaller than the maximum IWC drawdown of -64.61%. Use the drawdown chart below to compare losses from any high point for NKLA and IWC.

Drawdown Indicators

	NKLA	IWC	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-64.61%	+64.61%
Max Drawdown (1Y) Largest decline over 1 year	—	-13.35%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-40.68%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-47.21%	—
Current Drawdown Current decline from peak	0.00%	-8.83%	+8.83%
Average Drawdown Average peak-to-trough decline	0.00%	-15.39%	+15.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.11%	—

Volatility

Volatility by Period

	NKLA	IWC	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.16%	—
Volatility (6M) Calculated over the trailing 6-month period	—	18.06%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	26.33%	-26.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	24.40%	-24.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	24.30%	-24.30%