PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
RWK vs. IWS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

RWK vs. IWS

Last updated Aug 2, 2026
Documentation

RWK (Invesco S&P MidCap 400 Revenue ETF) and IWS (iShares Russell Mid-Cap Value ETF) are both exchange-traded funds - RWK is a Small Cap Blend Equities fund tracking the S&P MidCap 400 Revenue-Weighted Index, while IWS is a Mid Cap Value Equities fund tracking the Russell Midcap Value Index. Both are passively managed. Over the past 10 years, RWK returned 13.00%/yr vs 10.30%/yr for IWS. Their correlation of 0.91 means they have usually moved in the same direction. RWK charges 0.39%/yr vs 0.23%/yr for IWS.

Performance

RWK vs. IWS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P MidCap 400 Revenue ETF (RWK) and iShares Russell Mid-Cap Value ETF (IWS). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, RWK achieves a 18.15% return, which is significantly lower than IWS's 19.19% return. Over the past 10 years, RWK has outperformed IWS with an annualized return of 13.00%, while IWS has yielded a comparatively lower 10.30% annualized return.

RWK

1D
-0.70%
1M
1.66%
6M
13.42%
YTD
18.15%
1Y
28.53%
3Y*
15.25%
5Y*
12.08%
10Y*
13.00%
ALL TIME*
11.54%

IWS

1D
-0.31%
1M
0.62%
6M
14.40%
YTD
19.19%
1Y
27.66%
3Y*
15.33%
5Y*
9.45%
10Y*
10.30%
ALL TIME*
9.96%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

IWS

iShares Russell Mid-Cap Value ETF
$90.38M$82.14M$73.71M

RWK

Invesco S&P MidCap 400 Revenue ETF
$2.23M$2.59M$2.47M

RWK vs. IWS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
RWK
Invesco S&P MidCap 400 Revenue ETF		18.15%10.27%11.94%23.76%-8.19%34.31%11.06%28.20%-14.65%13.39%
IWS
iShares Russell Mid-Cap Value ETF		19.19%10.82%12.91%12.52%-12.29%28.10%4.83%26.73%-12.43%13.14%

Correlation

The correlation between RWK and IWS is 0.90, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.90

Correlation (3Y)
Balances recent behavior with more history.

0.93

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.94

Correlation (10Y)
Provides a long-term view across more market conditions.

0.93

Correlation (All Time)
Calculated using the full available price history since Feb 22, 2008

0.91

The correlation between RWK and IWS has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.

RWK vs. IWS - Sectors Allocation Comparison

Sectors
RWK
IWS

Industrials

23.3%
14.9%

Consumer Cyclical

21.0%
8.5%

Financial Services

13.0%
16.3%

Technology

11.8%
13.3%

Consumer Defensive

11.1%
5.7%

Energy

4.9%
7.1%

Healthcare

4.7%
9.9%

Basic Materials

4.4%
5.9%

Real Estate

2.9%
8.7%

Utilities

1.6%
7.2%

Communication Services

1.4%
2.4%

Industrials

RWK
23.3%
IWS
14.9%

Consumer Cyclical

RWK
21.0%
IWS
8.5%

Financial Services

RWK
13.0%
IWS
16.3%

Technology

RWK
11.8%
IWS
13.3%

Consumer Defensive

RWK
11.1%
IWS
5.7%

Energy

RWK
4.9%
IWS
7.1%

Healthcare

RWK
4.7%
IWS
9.9%

Basic Materials

RWK
4.4%
IWS
5.9%

Real Estate

RWK
2.9%
IWS
8.7%

Utilities

RWK
1.6%
IWS
7.2%

Communication Services

RWK
1.4%
IWS
2.4%

Compare stocks, funds, or ETFs

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

Invesco S&P MidCap 400 Revenue ETF

iShares Russell Mid-Cap Value ETF

Often compared with RWK:
RWK vs. RWJRWK vs. RFVRWK vs. XMHQRWK vs. XMVMRWK vs. ONEYRWK vs. PRNRWK vs. PRFZ
Often compared with IWS:
IWS vs. IWPIWS vs. IWNIWS vs. IMCVIWS vs. IWDIWS vs. FIMVXIWS vs. VBRIWS vs. IVV

Return for Risk

RWK vs. IWS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
RWK
RWK Risk / Return Rank: 6969
Overall Rank
RWK Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
RWK Sortino Ratio Rank: 7575
Sortino Ratio Rank
RWK Omega Ratio Rank: 6767
Omega Ratio Rank
RWK Calmar Ratio Rank: 6868
Calmar Ratio Rank
RWK Martin Ratio Rank: 6464
Martin Ratio Rank
IWS
IWS Risk / Return Rank: 8585
Overall Rank
IWS Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
IWS Sortino Ratio Rank: 8585
Sortino Ratio Rank
IWS Omega Ratio Rank: 8181
Omega Ratio Rank
IWS Calmar Ratio Rank: 8787
Calmar Ratio Rank
IWS Martin Ratio Rank: 8888
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

RWK vs. IWS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap 400 Revenue ETF (RWK) and iShares Russell Mid-Cap Value ETF (IWS). 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.

RWKIWSDifference
Sharpe ratioReturn per unit of total volatility
1.59
1.94

-0.35

Sortino ratioReturn per unit of downside risk
2.41
2.81

-0.40

Omega ratioGain probability vs. loss probability

1.28

1.34

-0.06

Calmar ratioReturn relative to maximum drawdown

2.34

3.47

-1.12

Martin ratioReturn relative to average drawdown

7.78

13.35

-5.57

RWK vs. IWS - Sharpe Ratio Comparison

The current RWK Sharpe Ratio is 1.59, which is comparable to the IWS Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of RWK and IWS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

RWK vs. IWS - Drawdown Comparison

The maximum RWK drawdown since its inception was -56.49%, smaller than the maximum IWS drawdown of -62.40%. Use the drawdown chart below to compare losses from any high point for RWK and IWS.

Loading charts...

Drawdown Indicators

RWKIWSDifference

Max Drawdown

Largest peak-to-trough decline

-56.49%

-62.40%

+5.91%

Max Drawdown (1Y)

Largest decline over 1 year

-11.14%

-7.53%

-3.61%

Max Drawdown (3Y)

Largest decline over 3 years

-24.58%

-20.57%

-4.01%

Max Drawdown (5Y)

Largest decline over 5 years

-24.58%

-21.23%

-3.35%

Max Drawdown (10Y)

Largest decline over 10 years

-46.20%

-43.83%

-2.37%

Current Drawdown

Current decline from peak

-1.30%

-1.38%

+0.08%

Average Drawdown

Average peak-to-trough decline

-7.49%

-7.97%

+0.48%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.35%

1.95%

+1.40%

Volatility

RWK vs. IWS - Volatility Comparison

Invesco S&P MidCap 400 Revenue ETF (RWK) has a higher volatility of 4.08% compared to iShares Russell Mid-Cap Value ETF (IWS) at 2.96%. This indicates that RWK's price experiences larger fluctuations and is considered to be riskier than IWS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

RWKIWSDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.08%

2.96%

+1.12%

Volatility (6M)

Calculated over the trailing 6-month period

11.96%

9.98%

+1.98%

Volatility (1Y)

Calculated over the trailing 1-year period

16.49%

13.46%

+3.03%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.94%

17.26%

+3.68%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.88%

19.30%

+3.58%

RWK vs. IWS - Expense Ratio Comparison

RWK has a 0.39% expense ratio, which is higher than IWS's 0.23% expense ratio.

Dividends

RWK vs. IWS - Dividend Comparison

RWK's dividend yield for the trailing twelve months is around 1.00%, less than IWS's 1.30% yield.

PositionTTM20252024202320222021202020192018201720162015
IWS
iShares Russell Mid-Cap Value ETF		1.30%1.53%1.50%1.76%1.93%1.39%1.87%1.97%2.53%1.96%2.10%2.14%
RWK
Invesco S&P MidCap 400 Revenue ETF		1.00%1.25%1.11%1.05%1.18%0.85%0.96%1.09%1.22%0.99%1.30%0.92%

Frequently Asked Questions

With a correlation of 0.90, RWK and IWS 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.

RWK has higher volatility (4.08%) compared to IWS (2.96%). In terms of maximum drawdown, RWK dropped -56.49% vs IWS's -62.40%.

On 10-year performance, RWK leads with 13.00% vs 10.30% for IWS. On fees, IWS is cheaper at 0.23% per year. On volatility, IWS has been the lower-risk option at 2.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, RWK has performed better with a 13.00% return vs 10.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IWS is cheaper with a 0.23% expense ratio, compared with 0.39% for RWK.

IWS has the higher dividend yield at 1.30%, compared with 1.00% for RWK.

RWK is categorized as Small Cap Blend Equities, while IWS is Mid Cap Value Equities. RWK tracks S&P MidCap 400 Revenue-Weighted Index, while IWS tracks Russell Midcap Value Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.39% for RWK and 0.23% for IWS.

IWS currently has the higher Sharpe Ratio (1.94 vs 1.59), 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.

Portfolio Optimizer

Find the right allocation for RWK and IWS

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer