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SPYV vs. IWX
Performance
Return for Risk
Dividends
Drawdowns
Volatility

SPYV vs. IWX

Last updated Apr 2, 2026

Compare and contrast key facts about SPDR Portfolio S&P 500 Value ETF (SPYV) and iShares Russell Top 200 Value ETF (IWX).

SPYV and IWX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPYV is a passively managed fund by State Street that tracks the performance of the S&P 500 Value. It was launched on Sep 25, 2000. IWX is a passively managed fund by iShares that tracks the performance of the Russell Top 200 Value Index. It was launched on Sep 22, 2009. Both SPYV and IWX 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

SPYV vs. IWX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio S&P 500 Value ETF (SPYV) and iShares Russell Top 200 Value ETF (IWX). The values are adjusted to include any dividend payments, if applicable.

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SPYV vs. IWX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SPYV
SPDR Portfolio S&P 500 Value ETF		0.09%13.18%12.24%22.20%-5.28%24.91%1.38%31.70%-9.01%15.40%
IWX
iShares Russell Top 200 Value ETF		1.79%18.23%14.89%10.45%-5.33%23.33%1.46%25.82%-6.53%14.05%

Returns By Period

In the year-to-date period, SPYV achieves a 0.09% return, which is significantly lower than IWX's 1.79% return. Over the past 10 years, SPYV has outperformed IWX with an annualized return of 11.42%, while IWX has yielded a comparatively lower 10.76% annualized return.

SPYV

1D
0.12%
1M
-4.32%
YTD
0.09%
6M
3.04%
1Y
13.08%
3Y*
13.89%
5Y*
10.49%
10Y*
11.42%

IWX

1D
0.51%
1M
-3.86%
YTD
1.79%
6M
6.71%
1Y
15.61%
3Y*
14.89%
5Y*
9.90%
10Y*
10.76%
*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.

SPDR Portfolio S&P 500 Value ETF

iShares Russell Top 200 Value ETF

Often compared with SPYV:
SPYV vs. SPYGSPYV vs. VTVSPYV vs. SPYSPYV vs. SPHQSPYV vs. SCHDSPYV vs. SPYDSPYV vs. BRK-B
Often compared with IWX:
IWX vs. IWNIWX vs. IWYIWX vs. IWCIWX vs. IWFIWX vs. XLPIWX vs. QQQIWX vs. IVE

SPYV vs. IWX - Expense Ratio Comparison

SPYV has a 0.04% expense ratio, which is lower than IWX's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

IWX
iShares Russell Top 200 Value ETF
SPYV
SPDR Portfolio S&P 500 Value ETF

Return for Risk

SPYV vs. IWX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPYV
SPYV Risk / Return Rank: 4545
Overall Rank
SPYV Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
SPYV Sortino Ratio Rank: 4444
Sortino Ratio Rank
SPYV Omega Ratio Rank: 4848
Omega Ratio Rank
SPYV Calmar Ratio Rank: 4040
Calmar Ratio Rank
SPYV Martin Ratio Rank: 5151
Martin Ratio Rank
IWX
IWX Risk / Return Rank: 5757
Overall Rank
IWX Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
IWX Sortino Ratio Rank: 5555
Sortino Ratio Rank
IWX Omega Ratio Rank: 6060
Omega Ratio Rank
IWX Calmar Ratio Rank: 5151
Calmar Ratio Rank
IWX Martin Ratio Rank: 6161
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.

SPYV vs. IWX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio S&P 500 Value ETF (SPYV) and iShares Russell Top 200 Value ETF (IWX). 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.

SPYVIWXDifference

Sharpe ratio

Return per unit of total volatility

0.85

1.06

-0.22

Sortino ratio

Return per unit of downside risk

1.27

1.51

-0.24

Omega ratio

Gain probability vs. loss probability

1.19

1.23

-0.04

Calmar ratio

Return relative to maximum drawdown

1.08

1.38

-0.30

Martin ratio

Return relative to average drawdown

5.09

6.38

-1.29

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

SPYV vs. IWX - Sharpe Ratio Comparison

The current SPYV Sharpe Ratio is 0.85, which is comparable to the IWX Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of SPYV and IWX, 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

SPYVIWXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.85

1.06

-0.22

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.73

0.72

+0.01

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.68

0.65

+0.02

Sharpe Ratio (All Time)

Calculated using the full available price history

0.41

0.66

-0.25

Correlation

The correlation between SPYV and IWX is 0.94, 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

SPYV vs. IWX - Dividend Comparison

SPYV's dividend yield for the trailing twelve months is around 1.82%, more than IWX's 1.65% yield.

TTM20252024202320222021202020192018201720162015
SPYV
SPDR Portfolio S&P 500 Value ETF		1.82%1.77%2.29%1.75%2.22%2.10%2.38%2.25%2.97%2.77%2.39%2.53%
IWX
iShares Russell Top 200 Value ETF		1.65%1.59%1.97%2.13%2.07%1.79%2.12%2.60%2.66%2.12%2.22%2.77%

Drawdowns

SPYV vs. IWX - Drawdown Comparison

The maximum SPYV drawdown since its inception was -58.45%, which is greater than IWX's maximum drawdown of -35.76%. Use the drawdown chart below to compare losses from any high point for SPYV and IWX.

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Drawdown Indicators

SPYVIWXDifference

Max Drawdown

Largest peak-to-trough decline

-58.45%

-35.76%

-22.69%

Max Drawdown (1Y)

Largest decline over 1 year

-12.03%

-11.07%

-0.96%

Max Drawdown (5Y)

Largest decline over 5 years

-17.89%

-18.13%

+0.24%

Max Drawdown (10Y)

Largest decline over 10 years

-36.89%

-35.76%

-1.13%

Current Drawdown

Current decline from peak

-4.43%

-4.24%

-0.19%

Average Drawdown

Average peak-to-trough decline

-8.77%

-3.85%

-4.92%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.56%

2.40%

+0.16%

Volatility

SPYV vs. IWX - Volatility Comparison

SPDR Portfolio S&P 500 Value ETF (SPYV) and iShares Russell Top 200 Value ETF (IWX) have volatilities of 3.79% and 3.97%, 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

SPYVIWXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.79%

3.97%

-0.18%

Volatility (6M)

Calculated over the trailing 6-month period

7.76%

7.63%

+0.13%

Volatility (1Y)

Calculated over the trailing 1-year period

15.52%

14.74%

+0.78%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.43%

13.82%

+0.61%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.96%

16.51%

+0.45%