SKYW vs. IVOG

Last updated Jun 26, 2026

SKYW (SkyWest, Inc.) is a stock, while IVOG (Vanguard S&P Mid-Cap 400 Growth ETF) is Small Cap Growth Equities fund tracking the S&P MidCap 400 Growth Index. Over the past 10 years, SKYW returned 15.33%/yr vs 12.33%/yr for IVOG. A 0.54 correlation means they provide meaningful diversification when combined.

Performance

SKYW vs. IVOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SkyWest, Inc. (SKYW) and Vanguard S&P Mid-Cap 400 Growth ETF (IVOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SKYW achieves a -2.11% return, which is significantly lower than IVOG's 20.23% return. Over the past 10 years, SKYW has outperformed IVOG with an annualized return of 15.33%, while IVOG has yielded a comparatively lower 12.33% annualized return.

SKYW

• 1D: 1.64%
• 1M: 13.26%
• YTD: -2.11%
• 6M: -4.49%
• 1Y: -0.81%
• 3Y*: 36.19%
• 5Y*: 16.94%
• 10Y*: 15.33%

IVOG

• 1D: 1.14%
• 1M: 1.84%
• YTD: 20.23%
• 6M: 17.23%
• 1Y: 31.10%
• 3Y*: 18.04%
• 5Y*: 8.36%
• 10Y*: 12.33%

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

SKYW vs. IVOG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SKYW SkyWest, Inc.	-2.11%	0.28%	91.82%	216.17%	-57.99%	-2.51%	-37.31%	46.54%	-15.60%	46.83%
IVOG Vanguard S&P Mid-Cap 400 Growth ETF	20.23%	7.34%	15.62%	17.36%	-19.08%	18.85%	22.60%	26.13%	-10.58%	19.90%

Correlation

The correlation between SKYW and IVOG is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (10Y) Calculated over the trailing 10-year period	0.56
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010	0.54

The correlation between SKYW and IVOG has been stable across timeframes, ranging from 0.54 to 0.60 - a consistent structural relationship.

Return for Risk

SKYW vs. IVOG — Risk / Return Rank

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

SKYW

SKYW Risk / Return Rank: 41
SKYW Sharpe Ratio Rank: 42
SKYW Sortino Ratio Rank: 38
SKYW Omega Ratio Rank: 37
SKYW Calmar Ratio Rank: 43
SKYW Martin Ratio Rank: 43

IVOG

IVOG Risk / Return Rank: 66
IVOG Sharpe Ratio Rank: 61
IVOG Sortino Ratio Rank: 62
IVOG Omega Ratio Rank: 57
IVOG Calmar Ratio Rank: 73
IVOG Martin Ratio Rank: 76

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.

SKYW vs. IVOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SkyWest, Inc. (SKYW) and Vanguard S&P Mid-Cap 400 Growth ETF (IVOG). 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.

	SKYW	IVOG	Difference
Sharpe ratio: Return per unit of total volatility	-0.02	1.77	-1.79
Sortino ratio: Return per unit of downside risk	0.24	2.52	-2.29
Omega ratio: Gain probability vs. loss probability	1.03	1.31	-0.28
Calmar ratio: Return relative to maximum drawdown	-0.02	3.23	-3.25
Martin ratio: Return relative to average drawdown	-0.04	12.54	-12.58

SKYW vs. IVOG - Sharpe Ratio Comparison

The current SKYW Sharpe Ratio is -0.02, which is lower than the IVOG Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of SKYW and IVOG, 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

SKYW vs. IVOG - Drawdown Comparison

The maximum SKYW drawdown since its inception was -81.77%, which is greater than IVOG's maximum drawdown of -39.32%. Use the drawdown chart below to compare losses from any high point for SKYW and IVOG.

Drawdown Indicators

	SKYW	IVOG	Difference
Max Drawdown Largest peak-to-trough decline	-81.77%	-39.32%	-42.45%
Max Drawdown (1Y) Largest decline over 1 year	-36.63%	-9.69%	-26.94%
Max Drawdown (3Y) Largest decline over 3 years	-36.63%	-25.61%	-11.02%
Max Drawdown (5Y) Largest decline over 5 years	-71.50%	-29.31%	-42.19%
Max Drawdown (10Y) Largest decline over 10 years	-81.77%	-39.32%	-42.45%
Current Drawdown Current decline from peak	-20.55%	-0.36%	-20.19%
Average Drawdown Average peak-to-trough decline	-35.42%	-5.86%	-29.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.29%	2.49%	+17.80%

Volatility

SKYW vs. IVOG - Volatility Comparison

SkyWest, Inc. (SKYW) has a higher volatility of 10.37% compared to Vanguard S&P Mid-Cap 400 Growth ETF (IVOG) at 5.55%. This indicates that SKYW's price experiences larger fluctuations and is considered to be riskier than IVOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SKYW	IVOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.37%	5.55%	+4.82%
Volatility (6M) Calculated over the trailing 6-month period	28.00%	13.86%	+14.14%
Volatility (1Y) Calculated over the trailing 1-year period	36.81%	17.69%	+19.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.64%	20.70%	+22.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.47%	20.61%	+30.86%

Dividends

SKYW vs. IVOG - Dividend Comparison

SKYW has not paid dividends to shareholders, while IVOG's dividend yield for the trailing twelve months is around 0.54%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVOG Vanguard S&P Mid-Cap 400 Growth ETF	0.54%	0.64%	0.79%	1.15%	1.05%	0.47%	0.74%	1.17%	1.01%	0.93%	1.11%	1.04%
SKYW SkyWest, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.35%	0.74%	0.90%	0.60%	0.52%	0.84%

Frequently Asked Questions

Can I hold both SKYW and IVOG in my portfolio?

SKYW and IVOG have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SKYW or IVOG?

SKYW has higher volatility (10.37%) compared to IVOG (5.55%). In terms of maximum drawdown, SKYW dropped -81.77% vs IVOG's -39.32%.

Which has better risk-adjusted returns?

IVOG currently has the higher Sharpe Ratio (1.77 vs -0.02), 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.