SDVY vs. IWMW

Last updated Jun 3, 2026

SDVY (First Trust SMID Cap Rising Dividend Achievers ETF) and IWMW (iShares Russell 2000 BuyWrite ETF) are both exchange-traded funds - SDVY is a Small Cap Blend Equities fund tracking the NASDAQ US Small Mid Cap Rising Dividend Achievers™ Index, while IWMW is a Derivative Income fund tracking the Cboe FTSE Russell IWM 2% OTM BuyWrite Index. Both are passively managed. Over the past year, SDVY returned 22.12% vs 26.41% for IWMW. Their correlation of 0.82 suggests significant overlap in exposure. SDVY charges 0.60%/yr vs 0.39%/yr for IWMW.

Performance

SDVY vs. IWMW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust SMID Cap Rising Dividend Achievers ETF (SDVY) and iShares Russell 2000 BuyWrite ETF (IWMW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SDVY achieves a 8.17% return, which is significantly lower than IWMW's 8.86% return.

SDVY

• 1D: 0.73%
• 1M: -1.83%
• YTD: 8.17%
• 6M: 9.36%
• 1Y: 22.12%
• 3Y*: 17.44%
• 5Y*: 8.70%
• 10Y*: —

IWMW

• 1D: 0.29%
• 1M: 3.05%
• YTD: 8.86%
• 6M: 9.65%
• 1Y: 26.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SDVY vs. IWMW - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SDVY First Trust SMID Cap Rising Dividend Achievers ETF	8.17%	8.83%	9.78%
IWMW iShares Russell 2000 BuyWrite ETF	8.86%	7.82%	6.09%

Correlation

The correlation between SDVY and IWMW is 0.75, 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	0.75
Correlation (All Time) Calculated using the full available price history since Mar 18, 2024	0.82

The correlation between SDVY and IWMW has been stable across timeframes, ranging from 0.75 to 0.82 - a consistent structural relationship.

SDVY vs. IWMW - Sectors Allocation Comparison

Sectors	SDVY	IWMW
Financial Services	33.5%	16.0%
Industrials	29.3%	17.6%
Consumer Cyclical	10.2%	7.8%
Technology	8.4%	19.2%
Consumer Defensive	5.4%	2.2%
Basic Materials	4.2%	4.8%
Energy	3.0%	6.4%
Healthcare	3.0%	16.6%
Communication Services	1.8%	2.0%
Utilities	0.6%	3.1%
Real Estate	-	5.8%

Return for Risk

SDVY vs. IWMW — Risk / Return Rank

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

SDVY

SDVY Risk / Return Rank: 44
SDVY Sharpe Ratio Rank: 40
SDVY Sortino Ratio Rank: 44
SDVY Omega Ratio Rank: 39
SDVY Calmar Ratio Rank: 47
SDVY Martin Ratio Rank: 48

IWMW

IWMW Risk / Return Rank: 68
IWMW Sharpe Ratio Rank: 64
IWMW Sortino Ratio Rank: 62
IWMW Omega Ratio Rank: 71
IWMW Calmar Ratio Rank: 74
IWMW Martin Ratio Rank: 69

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.

SDVY vs. IWMW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust SMID Cap Rising Dividend Achievers ETF (SDVY) and iShares Russell 2000 BuyWrite ETF (IWMW). 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.

	SDVY	IWMW	Difference
Sharpe ratio Return per unit of total volatility	1.45	2.15	-0.71
Sortino ratio Return per unit of downside risk	2.23	2.92	-0.69
Omega ratio Gain probability vs. loss probability	1.26	1.43	-0.17
Calmar ratio Return relative to maximum drawdown	2.36	3.80	-1.44
Martin ratio Return relative to average drawdown	8.17	13.17	-5.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SDVY vs. IWMW - Sharpe Ratio Comparison

The current SDVY Sharpe Ratio is 1.45, which is lower than the IWMW Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of SDVY and IWMW, 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

	SDVY	IWMW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.45	2.15	-0.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.65	-0.21

Drawdowns

SDVY vs. IWMW - Drawdown Comparison

The maximum SDVY drawdown since its inception was -44.70%, which is greater than IWMW's maximum drawdown of -21.82%. Use the drawdown chart below to compare losses from any high point for SDVY and IWMW.

Drawdown Indicators

	SDVY	IWMW	Difference
Max Drawdown Largest peak-to-trough decline	-44.70%	-21.82%	-22.88%
Max Drawdown (1Y) Largest decline over 1 year	-9.28%	-6.94%	-2.34%
Max Drawdown (3Y) Largest decline over 3 years	-25.92%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.92%	—	—
Current Drawdown Current decline from peak	-2.66%	0.00%	-2.66%
Average Drawdown Average peak-to-trough decline	-7.71%	-3.85%	-3.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.68%	2.00%	+0.68%

Volatility

SDVY vs. IWMW - Volatility Comparison

First Trust SMID Cap Rising Dividend Achievers ETF (SDVY) has a higher volatility of 4.26% compared to iShares Russell 2000 BuyWrite ETF (IWMW) at 3.03%. This indicates that SDVY's price experiences larger fluctuations and is considered to be riskier than IWMW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SDVY	IWMW	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.26%	3.03%	+1.23%
Volatility (6M) Calculated over the trailing 6-month period	10.88%	8.74%	+2.14%
Volatility (1Y) Calculated over the trailing 1-year period	15.34%	12.31%	+3.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.04%	16.13%	+4.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.83%	16.13%	+8.70%

SDVY vs. IWMW - Expense Ratio Comparison

SDVY has a 0.60% expense ratio, which is higher than IWMW's 0.39% expense ratio.

Dividends

SDVY vs. IWMW - Dividend Comparison

SDVY's dividend yield for the trailing twelve months is around 1.20%, less than IWMW's 24.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
IWMW iShares Russell 2000 BuyWrite ETF	22.32%	20.98%	17.73%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SDVY First Trust SMID Cap Rising Dividend Achievers ETF	1.20%	1.69%	1.60%	1.90%	2.28%	1.09%	1.48%	1.69%	1.57%	0.29%

Frequently Asked Questions

Can I hold both SDVY and IWMW in my portfolio?

SDVY and IWMW have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SDVY or IWMW?

SDVY has higher volatility (4.26%) compared to IWMW (3.03%). In terms of maximum drawdown, SDVY dropped -44.70% vs IWMW's -21.82%.

Which ETF is better, SDVY or IWMW?

On 1-year performance, IWMW leads with 26.41% vs 22.12% for SDVY. On fees, IWMW is cheaper at 0.39% per year. On volatility, IWMW has been the lower-risk option at 3.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SDVY or IWMW?

Over the 1-year period, IWMW has performed better with a 26.41% return vs 22.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SDVY or IWMW?

IWMW is cheaper with a 0.39% expense ratio, compared with 0.60% for SDVY.

Which ETF pays a higher dividend yield, SDVY or IWMW?

IWMW has the higher dividend yield at 24.00%, compared with 1.20% for SDVY.

What is the main difference between SDVY and IWMW?

SDVY is categorized as Small Cap Blend Equities, while IWMW is Derivative Income. SDVY tracks NASDAQ US Small Mid Cap Rising Dividend Achievers™ Index, while IWMW tracks Cboe FTSE Russell IWM 2% OTM BuyWrite Index. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.60% for SDVY and 0.39% for IWMW.

Which has better risk-adjusted returns?

IWMW currently has the higher Sharpe Ratio (2.15 vs 1.45), 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.