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RZG vs. IWO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

RZG vs. IWO

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco S&P SmallCap 600® Pure Growth ETF (RZG) and iShares Russell 2000 Growth ETF (IWO).

RZG and IWO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. RZG is a passively managed fund by Invesco that tracks the performance of the S&P Small Cap 600 Pure Growth. It was launched on Mar 1, 2006. IWO is a passively managed fund by iShares that tracks the performance of the Russell 2000 Growth Index. It was launched on Jul 24, 2000. Both RZG and IWO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

RZG vs. IWO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap 600® Pure Growth ETF (RZG) and iShares Russell 2000 Growth ETF (IWO). The values are adjusted to include any dividend payments, if applicable.

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RZG vs. IWO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
RZG
Invesco S&P SmallCap 600® Pure Growth ETF		6.17%10.22%9.84%19.15%-29.00%21.01%17.76%14.25%-8.70%19.18%
IWO
iShares Russell 2000 Growth ETF		-2.09%12.90%15.04%18.51%-26.27%2.54%34.68%28.48%-9.43%22.25%

Returns By Period

In the year-to-date period, RZG achieves a 6.17% return, which is significantly higher than IWO's -2.09% return. Over the past 10 years, RZG has underperformed IWO with an annualized return of 8.94%, while IWO has yielded a comparatively higher 9.75% annualized return.

RZG

1D
1.15%
1M
-2.97%
YTD
6.17%
6M
6.39%
1Y
23.98%
3Y*
14.53%
5Y*
2.54%
10Y*
8.94%

IWO

1D
0.75%
1M
-6.57%
YTD
-2.09%
6M
-0.97%
1Y
24.27%
3Y*
12.46%
5Y*
1.37%
10Y*
9.75%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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 SmallCap 600® Pure Growth ETF

iShares Russell 2000 Growth ETF

Often compared with RZG:
RZG vs. VBKRZG vs. QQQRZG vs. ^GSPCRZG vs. FDGRZG vs. IWCRZG vs. TNARZG vs. IJR
Often compared with IWO:
IWO vs. IWMIWO vs. IWNIWO vs. QQQIWO vs. VTCLXIWO vs. VTWOIWO vs. SLYGIWO vs. IJR

RZG vs. IWO - Expense Ratio Comparison

RZG has a 0.35% expense ratio, which is higher than IWO's 0.24% expense ratio.

RZG
Invesco S&P SmallCap 600® Pure Growth ETF
IWO
iShares Russell 2000 Growth ETF

Return for Risk

RZG vs. IWO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
RZG
RZG Risk / Return Rank: 6161
Overall Rank
RZG Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
RZG Sortino Ratio Rank: 6161
Sortino Ratio Rank
RZG Omega Ratio Rank: 5353
Omega Ratio Rank
RZG Calmar Ratio Rank: 6565
Calmar Ratio Rank
RZG Martin Ratio Rank: 6868
Martin Ratio Rank
IWO
IWO Risk / Return Rank: 5454
Overall Rank
IWO Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
IWO Sortino Ratio Rank: 5555
Sortino Ratio Rank
IWO Omega Ratio Rank: 4646
Omega Ratio Rank
IWO Calmar Ratio Rank: 6262
Calmar Ratio Rank
IWO Martin Ratio Rank: 5454
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.

RZG vs. IWO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap 600® Pure Growth ETF (RZG) and iShares Russell 2000 Growth ETF (IWO). 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.

RZGIWODifference

Sharpe ratio

Return per unit of total volatility

1.06

0.97

+0.09

Sortino ratio

Return per unit of downside risk

1.64

1.49

+0.15

Omega ratio

Gain probability vs. loss probability

1.21

1.19

+0.02

Calmar ratio

Return relative to maximum drawdown

1.78

1.64

+0.14

Martin ratio

Return relative to average drawdown

7.41

5.48

+1.92

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RZG vs. IWO - Sharpe Ratio Comparison

The current RZG Sharpe Ratio is 1.06, which is comparable to the IWO Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of RZG and IWO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

RZGIWODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.06

0.97

+0.09

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.11

0.06

+0.05

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.36

0.41

-0.04

Sharpe Ratio (All Time)

Calculated using the full available price history

0.35

0.26

+0.09

Correlation

The correlation between RZG and IWO is 0.88, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

RZG vs. IWO - Dividend Comparison

RZG's dividend yield for the trailing twelve months is around 0.46%, less than IWO's 0.48% yield.

TTM20252024202320222021202020192018201720162015
RZG
Invesco S&P SmallCap 600® Pure Growth ETF		0.46%0.37%0.95%1.43%1.59%0.22%0.49%0.70%0.46%0.44%0.65%0.70%
IWO
iShares Russell 2000 Growth ETF		0.48%0.56%0.80%0.73%0.73%0.32%0.44%0.71%0.76%0.73%0.97%0.89%

Drawdowns

RZG vs. IWO - Drawdown Comparison

The maximum RZG drawdown since its inception was -58.52%, roughly equal to the maximum IWO drawdown of -60.11%. Use the drawdown chart below to compare losses from any high point for RZG and IWO.

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Drawdown Indicators

RZGIWODifference

Max Drawdown

Largest peak-to-trough decline

-58.52%

-60.11%

+1.59%

Max Drawdown (1Y)

Largest decline over 1 year

-13.42%

-14.87%

+1.45%

Max Drawdown (5Y)

Largest decline over 5 years

-38.33%

-40.51%

+2.18%

Max Drawdown (10Y)

Largest decline over 10 years

-54.02%

-42.02%

-12.00%

Current Drawdown

Current decline from peak

-3.61%

-10.59%

+6.98%

Average Drawdown

Average peak-to-trough decline

-12.22%

-16.80%

+4.58%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.22%

4.44%

-1.22%

Volatility

RZG vs. IWO - Volatility Comparison

Invesco S&P SmallCap 600® Pure Growth ETF (RZG) and iShares Russell 2000 Growth ETF (IWO) have volatilities of 8.32% and 8.60%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

RZGIWODifference

Volatility (1M)

Calculated over the trailing 1-month period

8.32%

8.60%

-0.28%

Volatility (6M)

Calculated over the trailing 6-month period

14.08%

16.54%

-2.46%

Volatility (1Y)

Calculated over the trailing 1-year period

22.71%

25.23%

-2.52%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.08%

24.46%

-1.38%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.61%

24.06%

+0.55%