PICK vs. VAW

Last updated Jun 4, 2026

PICK (iShares MSCI Global Select Metals & Mining Producers ETF) and VAW (Vanguard Materials ETF) are both Materials funds - PICK tracks the MSCI ACWI Select Metals & Mining Producers Ex Gold & Silver Investable Market Index while VAW tracks the MSCI US Investable Market Materials 25/50 Index. Both are passively managed. Over the past 10 years, PICK returned 17.67%/yr vs 10.35%/yr for VAW. A 0.72 correlation means they provide meaningful diversification when combined. PICK charges 0.39%/yr vs 0.10%/yr for VAW.

Performance

PICK vs. VAW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Global Select Metals & Mining Producers ETF (PICK) and Vanguard Materials ETF (VAW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PICK achieves a 30.58% return, which is significantly higher than VAW's 13.17% return. Over the past 10 years, PICK has outperformed VAW with an annualized return of 17.67%, while VAW has yielded a comparatively lower 10.35% annualized return.

PICK

• 1D: -2.74%
• 1M: 11.27%
• YTD: 30.58%
• 6M: 38.84%
• 1Y: 88.13%
• 3Y*: 22.92%
• 5Y*: 11.78%
• 10Y*: 17.67%

VAW

• 1D: -0.23%
• 1M: 2.57%
• YTD: 13.17%
• 6M: 16.23%
• 1Y: 22.68%
• 3Y*: 12.47%
• 5Y*: 5.80%
• 10Y*: 10.35%

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

PICK vs. VAW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PICK iShares MSCI Global Select Metals & Mining Producers ETF	30.58%	51.89%	-16.37%	9.69%	2.54%	22.61%	27.46%	16.47%	-18.65%	38.42%
VAW Vanguard Materials ETF	13.17%	12.30%	0.48%	13.67%	-11.80%	27.43%	19.44%	23.53%	-17.49%	23.76%

Correlation

The correlation between PICK and VAW is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since Feb 3, 2012	0.72

The correlation between PICK and VAW has been stable across timeframes, ranging from 0.72 to 0.75 - a consistent structural relationship.

PICK vs. VAW - Sectors Allocation Comparison

Sectors	PICK	VAW
Basic Materials	96.6%	90.2%
Industrials	1.1%	1.0%
Technology	1.0%	0.1%
Energy	0.6%	0.5%
Consumer Defensive	0.1%	0.0%
Financial Services	0.1%	-
Communication Services	-	-
Consumer Cyclical	-	8.3%
Healthcare	-	0.5%
Real Estate	-	-
Utilities	-	-

Return for Risk

PICK vs. VAW — Risk / Return Rank

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

PICK

PICK Risk / Return Rank: 84
PICK Sharpe Ratio Rank: 90
PICK Sortino Ratio Rank: 79
PICK Omega Ratio Rank: 83
PICK Calmar Ratio Rank: 83
PICK Martin Ratio Rank: 85

VAW

VAW Risk / Return Rank: 34
VAW Sharpe Ratio Rank: 35
VAW Sortino Ratio Rank: 34
VAW Omega Ratio Rank: 33
VAW Calmar Ratio Rank: 34
VAW Martin Ratio Rank: 35

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.

PICK vs. VAW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Global Select Metals & Mining Producers ETF (PICK) and Vanguard Materials ETF (VAW). 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.

	PICK	VAW	Difference
Sharpe ratio: Return per unit of total volatility	3.16	1.29	+1.86
Sortino ratio: Return per unit of downside risk	3.63	1.86	+1.77
Omega ratio: Gain probability vs. loss probability	1.51	1.22	+0.28
Calmar ratio: Return relative to maximum drawdown	4.53	1.70	+2.84
Martin ratio: Return relative to average drawdown	18.20	5.56	+12.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PICK vs. VAW - Sharpe Ratio Comparison

The current PICK Sharpe Ratio is 3.16, which is higher than the VAW Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of PICK and VAW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PICK	VAW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.16	1.29	+1.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.30	+0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	0.49	+0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.39	-0.18

Drawdowns

PICK vs. VAW - Drawdown Comparison

The maximum PICK drawdown since its inception was -68.87%, which is greater than VAW's maximum drawdown of -62.17%. Use the drawdown chart below to compare losses from any high point for PICK and VAW.

Drawdown Indicators

	PICK	VAW	Difference
Max Drawdown Largest peak-to-trough decline	-68.87%	-62.17%	-6.70%
Max Drawdown (1Y) Largest decline over 1 year	-19.54%	-13.42%	-6.12%
Max Drawdown (3Y) Largest decline over 3 years	-32.52%	-23.21%	-9.31%
Max Drawdown (5Y) Largest decline over 5 years	-36.37%	-25.50%	-10.87%
Max Drawdown (10Y) Largest decline over 10 years	-52.72%	-41.13%	-11.59%
Current Drawdown Current decline from peak	-2.74%	-3.79%	+1.05%
Average Drawdown Average peak-to-trough decline	-24.12%	-9.63%	-14.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.86%	4.09%	+0.77%

Volatility

PICK vs. VAW - Volatility Comparison

iShares MSCI Global Select Metals & Mining Producers ETF (PICK) has a higher volatility of 10.99% compared to Vanguard Materials ETF (VAW) at 6.08%. This indicates that PICK's price experiences larger fluctuations and is considered to be riskier than VAW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PICK	VAW	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.99%	6.08%	+4.91%
Volatility (6M) Calculated over the trailing 6-month period	24.11%	13.93%	+10.18%
Volatility (1Y) Calculated over the trailing 1-year period	28.10%	17.65%	+10.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.78%	19.62%	+8.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.37%	21.20%	+7.17%

PICK vs. VAW - Expense Ratio Comparison

PICK has a 0.39% expense ratio, which is higher than VAW's 0.10% expense ratio.

Dividends

PICK vs. VAW - Dividend Comparison

PICK's dividend yield for the trailing twelve months is around 2.20%, more than VAW's 1.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PICK iShares MSCI Global Select Metals & Mining Producers ETF	2.20%	2.88%	3.26%	4.19%	6.93%	5.89%	2.27%	5.51%	4.77%	2.41%	1.15%	15.77%
VAW Vanguard Materials ETF	1.36%	1.55%	1.70%	1.72%	1.98%	1.44%	1.67%	1.94%	2.03%	1.63%	1.67%	2.30%

Frequently Asked Questions

Can I hold both PICK and VAW in my portfolio?

PICK and VAW have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PICK or VAW?

PICK has higher volatility (10.99%) compared to VAW (6.08%). In terms of maximum drawdown, PICK dropped -68.87% vs VAW's -62.17%.

Which ETF is better, PICK or VAW?

On 10-year performance, PICK leads with 17.67% vs 10.35% for VAW. On fees, VAW is cheaper at 0.10% per year. On volatility, VAW has been the lower-risk option at 6.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PICK or VAW?

Over the 10-year period, PICK has performed better with a 17.67% return vs 10.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PICK or VAW?

VAW is cheaper with a 0.10% expense ratio, compared with 0.39% for PICK.

Which ETF pays a higher dividend yield, PICK or VAW?

PICK has the higher dividend yield at 2.20%, compared with 1.36% for VAW.

What is the main difference between PICK and VAW?

PICK tracks MSCI ACWI Select Metals & Mining Producers Ex Gold & Silver Investable Market Index, while VAW tracks MSCI US Investable Market Materials 25/50 Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.39% for PICK and 0.10% for VAW.

Which has better risk-adjusted returns?

PICK currently has the higher Sharpe Ratio (3.15 vs 1.29), 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.