REGL vs. IWR

Last updated Jun 23, 2026

REGL (ProShares S&P MidCap 400 Dividend Aristocrats ETF) and IWR (iShares Russell Midcap ETF) are both exchange-traded funds - REGL is a Mid Cap Value Equities fund tracking the S&P MidCap 400 Dividend Aristocrats Index, while IWR is a Mid Cap Growth Equities fund tracking the Russell Midcap Index. Both are passively managed. Over the past 10 years, REGL returned 9.63%/yr vs 12.03%/yr for IWR. Their correlation of 0.83 suggests significant overlap in exposure. REGL charges 0.40%/yr vs 0.19%/yr for IWR.

Performance

REGL vs. IWR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares S&P MidCap 400 Dividend Aristocrats ETF (REGL) and iShares Russell Midcap ETF (IWR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, REGL achieves a 7.68% return, which is significantly lower than IWR's 13.93% return. Over the past 10 years, REGL has underperformed IWR with an annualized return of 9.63%, while IWR has yielded a comparatively higher 12.03% annualized return.

REGL

• 1D: 0.16%
• 1M: 1.42%
• YTD: 7.68%
• 6M: 5.73%
• 1Y: 14.91%
• 3Y*: 12.38%
• 5Y*: 7.47%
• 10Y*: 9.63%

IWR

• 1D: 0.52%
• 1M: 3.28%
• YTD: 13.93%
• 6M: 12.06%
• 1Y: 23.42%
• 3Y*: 17.38%
• 5Y*: 8.30%
• 10Y*: 12.03%

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

REGL vs. IWR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF	7.68%	6.89%	12.26%	5.41%	-0.62%	20.38%	7.50%	18.79%	-3.25%	10.17%
IWR iShares Russell Midcap ETF	13.93%	10.37%	15.21%	17.05%	-17.48%	22.44%	16.93%	30.23%	-9.10%	18.25%

Correlation

The correlation between REGL and IWR is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Feb 5, 2015	0.83

The correlation between REGL and IWR has been stable across timeframes, ranging from 0.74 to 0.84 - a consistent structural relationship.

REGL vs. IWR - Sectors Allocation Comparison

Sectors	REGL	IWR
Financial Services	31.0%	12.1%
Industrials	15.2%	18.1%
Utilities	13.7%	5.7%
Consumer Cyclical	10.7%	11.1%
Basic Materials	9.2%	4.2%
Real Estate	7.8%	6.8%
Healthcare	4.6%	8.7%
Energy	3.1%	6.5%
Consumer Defensive	2.8%	3.9%
Technology	1.9%	19.6%
Communication Services	-	3.3%

Return for Risk

REGL vs. IWR — Risk / Return Rank

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

REGL

REGL Risk / Return Rank: 32
REGL Sharpe Ratio Rank: 32
REGL Sortino Ratio Rank: 34
REGL Omega Ratio Rank: 30
REGL Calmar Ratio Rank: 32
REGL Martin Ratio Rank: 33

IWR

IWR Risk / Return Rank: 55
IWR Sharpe Ratio Rank: 52
IWR Sortino Ratio Rank: 51
IWR Omega Ratio Rank: 48
IWR Calmar Ratio Rank: 60
IWR Martin Ratio Rank: 63

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.

REGL vs. IWR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares S&P MidCap 400 Dividend Aristocrats ETF (REGL) and iShares Russell Midcap ETF (IWR). 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.

	REGL	IWR	Difference
Sharpe ratio: Return per unit of total volatility	1.13	1.71	-0.58
Sortino ratio: Return per unit of downside risk	1.74	2.44	-0.69
Omega ratio: Gain probability vs. loss probability	1.20	1.30	-0.10
Calmar ratio: Return relative to maximum drawdown	1.55	2.88	-1.33
Martin ratio: Return relative to average drawdown	4.81	11.02	-6.21

REGL vs. IWR - Sharpe Ratio Comparison

The current REGL Sharpe Ratio is 1.13, which is lower than the IWR Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of REGL and IWR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

REGL vs. IWR - Drawdown Comparison

The maximum REGL drawdown since its inception was -36.37%, smaller than the maximum IWR drawdown of -58.78%. Use the drawdown chart below to compare losses from any high point for REGL and IWR.

Drawdown Indicators

	REGL	IWR	Difference
Max Drawdown Largest peak-to-trough decline	-36.37%	-58.78%	+22.41%
Max Drawdown (1Y) Largest decline over 1 year	-9.67%	-8.17%	-1.50%
Max Drawdown (3Y) Largest decline over 3 years	-16.96%	-21.09%	+4.13%
Max Drawdown (5Y) Largest decline over 5 years	-16.96%	-26.18%	+9.22%
Max Drawdown (10Y) Largest decline over 10 years	-36.37%	-40.59%	+4.22%
Current Drawdown Current decline from peak	-2.46%	-0.30%	-2.16%
Average Drawdown Average peak-to-trough decline	-4.08%	-7.79%	+3.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.10%	2.13%	+0.97%

Volatility

REGL vs. IWR - Volatility Comparison

The current volatility for ProShares S&P MidCap 400 Dividend Aristocrats ETF (REGL) is 3.55%, while iShares Russell Midcap ETF (IWR) has a volatility of 4.41%. This indicates that REGL experiences smaller price fluctuations and is considered to be less risky than IWR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	REGL	IWR	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.55%	4.41%	-0.86%
Volatility (6M) Calculated over the trailing 6-month period	9.30%	10.38%	-1.08%
Volatility (1Y) Calculated over the trailing 1-year period	13.26%	13.80%	-0.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.06%	18.28%	-2.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.34%	19.40%	-1.06%

REGL vs. IWR - Expense Ratio Comparison

REGL has a 0.40% expense ratio, which is higher than IWR's 0.19% expense ratio.

Dividends

REGL vs. IWR - Dividend Comparison

REGL's dividend yield for the trailing twelve months is around 2.16%, more than IWR's 1.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IWR iShares Russell Midcap ETF	1.16%	1.29%	1.27%	1.43%	1.59%	1.04%	1.28%	1.43%	1.98%	1.52%	1.72%	1.59%
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF	2.16%	2.32%	2.28%	2.40%	2.32%	2.50%	2.41%	1.96%	2.09%	1.63%	1.20%	1.66%

Frequently Asked Questions

Can I hold both REGL and IWR in my portfolio?

REGL and IWR have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, REGL or IWR?

IWR has higher volatility (4.41%) compared to REGL (3.55%). In terms of maximum drawdown, REGL dropped -36.37% vs IWR's -58.78%.

Which ETF is better, REGL or IWR?

On 10-year performance, IWR leads with 12.03% vs 9.63% for REGL. On fees, IWR is cheaper at 0.19% per year. On volatility, REGL has been the lower-risk option at 3.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, REGL or IWR?

Over the 10-year period, IWR has performed better with a 12.03% return vs 9.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, REGL or IWR?

IWR is cheaper with a 0.19% expense ratio, compared with 0.40% for REGL.

Which ETF pays a higher dividend yield, REGL or IWR?

REGL has the higher dividend yield at 2.16%, compared with 1.16% for IWR.

What is the main difference between REGL and IWR?

REGL is categorized as Mid Cap Value Equities, while IWR is Mid Cap Growth Equities. REGL tracks S&P MidCap 400 Dividend Aristocrats Index, while IWR tracks Russell Midcap Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.40% for REGL and 0.19% for IWR.

Which has better risk-adjusted returns?

IWR currently has the higher Sharpe Ratio (1.71 vs 1.13), 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.