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SQLV vs. IWM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SQLV vs. IWM

Last updated Jun 24, 2026

SQLV (Royce Quant Small-Cap Quality Value ETF) and IWM (iShares Russell 2000 ETF) are both exchange-traded funds - SQLV is a Small Cap Value Equities fund actively managed by Franklin Templeton, while IWM is a Small Cap Blend Equities fund tracking the Russell 2000 Index. SQLV is actively managed, while IWM is passively managed. Over the past 5 years, SQLV returned 7.15%/yr vs 6.27%/yr for IWM. A 0.75 correlation means they provide meaningful diversification when combined. SQLV charges 0.60%/yr vs 0.19%/yr for IWM.

Performance

SQLV vs. IWM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Royce Quant Small-Cap Quality Value ETF (SQLV) and iShares Russell 2000 ETF (IWM). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SQLV achieves a 16.34% return, which is significantly lower than IWM's 20.47% return.

SQLV

1D
0.83%
1M
3.63%
YTD
16.34%
6M
15.01%
1Y
28.84%
3Y*
13.42%
5Y*
7.15%
10Y*
—

IWM

1D
-0.96%
1M
3.82%
YTD
20.47%
6M
17.64%
1Y
40.90%
3Y*
19.22%
5Y*
6.27%
10Y*
11.58%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SQLV vs. IWM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SQLV
Royce Quant Small-Cap Quality Value ETF		16.34%2.50%4.76%21.21%-12.86%37.14%7.13%17.41%-10.55%8.84%
IWM
iShares Russell 2000 ETF		20.47%12.66%11.38%16.83%-20.48%14.54%20.03%25.39%-11.12%8.52%

Correlation

The correlation between SQLV and IWM is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.83

Correlation (3Y)
Calculated over the trailing 3-year period

0.90

Correlation (5Y)
Calculated over the trailing 5-year period

0.88

Correlation (All Time)
Calculated using the full available price history since Jul 13, 2017

0.75

The correlation between SQLV and IWM shifts across timeframes, from 0.75 (all time) to 0.90 (3 years), reflecting how their relationship changes across market environments.

SQLV vs. IWM - Sectors Allocation Comparison

Sectors
SQLV
IWM

Financial Services

19.4%
15.5%

Healthcare

18.5%
15.6%

Technology

16.9%
20.1%

Consumer Cyclical

13.2%
8.0%

Industrials

10.9%
17.3%

Consumer Defensive

7.2%
2.0%

Communication Services

4.6%
1.7%

Energy

4.4%
6.0%

Basic Materials

3.4%
4.5%

Real Estate

0.9%
5.5%

Utilities

0.6%
3.1%

Financial Services

SQLV
19.4%
IWM
15.5%

Healthcare

SQLV
18.5%
IWM
15.6%

Technology

SQLV
16.9%
IWM
20.1%

Consumer Cyclical

SQLV
13.2%
IWM
8.0%

Industrials

SQLV
10.9%
IWM
17.3%

Consumer Defensive

SQLV
7.2%
IWM
2.0%

Communication Services

SQLV
4.6%
IWM
1.7%

Energy

SQLV
4.4%
IWM
6.0%

Basic Materials

SQLV
3.4%
IWM
4.5%

Real Estate

SQLV
0.9%
IWM
5.5%

Utilities

SQLV
0.6%
IWM
3.1%

Compare stocks, funds, or ETFs

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Royce Quant Small-Cap Quality Value ETF

iShares Russell 2000 ETF

Often compared with SQLV:
SQLV vs. RYSEXSQLV vs. CALFSQLV vs. XMESQLV vs. QQQSQLV vs. ROSCSQLV vs. VOOSQLV vs. XSVM
Often compared with IWM:
IWM vs. SPYIWM vs. VTWOIWM vs. IJRIWM vs. AVUVIWM vs. IWNIWM vs. VOOIWM vs. TNA

Return for Risk

SQLV vs. IWM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SQLV
SQLV Risk / Return Rank: 5656
Overall Rank
SQLV Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
SQLV Sortino Ratio Rank: 5454
Sortino Ratio Rank
SQLV Omega Ratio Rank: 4646
Omega Ratio Rank
SQLV Calmar Ratio Rank: 7070
Calmar Ratio Rank
SQLV Martin Ratio Rank: 5959
Martin Ratio Rank
IWM
IWM Risk / Return Rank: 6767
Overall Rank
IWM Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
IWM Sortino Ratio Rank: 6464
Sortino Ratio Rank
IWM Omega Ratio Rank: 5757
Omega Ratio Rank
IWM Calmar Ratio Rank: 7575
Calmar Ratio Rank
IWM Martin Ratio Rank: 7373
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.

SQLV vs. IWM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Royce Quant Small-Cap Quality Value ETF (SQLV) and iShares Russell 2000 ETF (IWM). 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.

SQLVIWMDifference
Sharpe ratioReturn per unit of total volatility
1.64
2.08

-0.45

Sortino ratioReturn per unit of downside risk
2.40
2.86

-0.46

Omega ratioGain probability vs. loss probability

1.28

1.34

-0.06

Calmar ratioReturn relative to maximum drawdown

3.28

3.73

-0.45

Martin ratioReturn relative to average drawdown

9.82

13.18

-3.36

SQLV vs. IWM - Sharpe Ratio Comparison

The current SQLV Sharpe Ratio is 1.64, which is comparable to the IWM Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of SQLV and IWM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

SQLV vs. IWM - Drawdown Comparison

The maximum SQLV drawdown since its inception was -48.34%, smaller than the maximum IWM drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for SQLV and IWM.

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Drawdown Indicators

SQLVIWMDifference

Max Drawdown

Largest peak-to-trough decline

-48.34%

-59.05%

+10.71%

Max Drawdown (1Y)

Largest decline over 1 year

-8.84%

-11.03%

+2.19%

Max Drawdown (3Y)

Largest decline over 3 years

-26.86%

-27.50%

+0.64%

Max Drawdown (5Y)

Largest decline over 5 years

-26.86%

-31.91%

+5.05%

Max Drawdown (10Y)

Largest decline over 10 years

—

-41.13%

—

Current Drawdown

Current decline from peak

-0.96%

-0.96%

0.00%

Average Drawdown

Average peak-to-trough decline

-8.90%

-10.75%

+1.85%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.95%

3.11%

-0.16%

Volatility

SQLV vs. IWM - Volatility Comparison

The current volatility for Royce Quant Small-Cap Quality Value ETF (SQLV) is 4.55%, while iShares Russell 2000 ETF (IWM) has a volatility of 6.56%. This indicates that SQLV experiences smaller price fluctuations and is considered to be less risky than IWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SQLVIWMDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.55%

6.56%

-2.01%

Volatility (6M)

Calculated over the trailing 6-month period

11.56%

14.31%

-2.75%

Volatility (1Y)

Calculated over the trailing 1-year period

17.69%

19.74%

-2.05%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.98%

22.61%

-1.63%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.32%

23.06%

+0.26%

SQLV vs. IWM - Expense Ratio Comparison

SQLV has a 0.60% expense ratio, which is higher than IWM's 0.19% expense ratio.

Dividends

SQLV vs. IWM - Dividend Comparison

SQLV's dividend yield for the trailing twelve months is around 1.01%, more than IWM's 0.90% yield.

PositionTTM20252024202320222021202020192018201720162015
IWM
iShares Russell 2000 ETF		0.90%1.04%1.15%1.35%1.48%0.94%1.04%1.26%1.40%1.26%1.38%1.54%
SQLV
Royce Quant Small-Cap Quality Value ETF		1.01%1.15%1.11%1.09%1.24%1.12%1.22%1.20%1.08%0.40%0.00%0.00%

Frequently Asked Questions

SQLV and IWM have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IWM has higher volatility (6.56%) compared to SQLV (4.55%). In terms of maximum drawdown, SQLV dropped -48.34% vs IWM's -59.05%.

On 5-year performance, SQLV leads with 7.15% vs 6.27% for IWM. On fees, IWM is cheaper at 0.19% per year. On volatility, SQLV has been the lower-risk option at 4.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, SQLV has performed better with a 7.15% return vs 6.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IWM is cheaper with a 0.19% expense ratio, compared with 0.60% for SQLV.

SQLV has the higher dividend yield at 1.01%, compared with 0.90% for IWM.

SQLV is categorized as Small Cap Value Equities, while IWM is Small Cap Blend Equities. They also come from different issuers: Franklin Templeton and iShares. Their fees differ too: 0.60% for SQLV and 0.19% for IWM.

IWM currently has the higher Sharpe Ratio (2.08 vs 1.64), 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.

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