TOPT vs. IYW
TOPT (iShares Top 20 U.S. Stocks ETF) and IYW (iShares U.S. Technology ETF) are both exchange-traded funds - TOPT is a Large Cap Growth Equities fund tracking the S&P 500 Top 20 Select Index, while IYW is a Technology Equities fund tracking the Russell 1000 Technology RIC 22.5/45 Capped Index. Both are passively managed. Over the past year, TOPT returned 30.44% vs 58.25% for IYW. Their correlation of 0.91 suggests significant overlap in exposure. TOPT charges 0.20%/yr vs 0.38%/yr for IYW.
Performance
TOPT vs. IYW - Performance Comparison
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Returns By Period
In the year-to-date period, TOPT achieves a 9.30% return, which is significantly lower than IYW's 28.46% return.
TOPT
- 1D
- 0.32%
- 1M
- 4.89%
- YTD
- 9.30%
- 6M
- 8.82%
- 1Y
- 30.44%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IYW
- 1D
- -0.44%
- 1M
- 13.87%
- YTD
- 28.46%
- 6M
- 27.22%
- 1Y
- 58.25%
- 3Y*
- 35.17%
- 5Y*
- 22.76%
- 10Y*
- 26.00%
TOPT vs. IYW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TOPT iShares Top 20 U.S. Stocks ETF | 9.30% | 20.35% | 5.03% |
IYW iShares U.S. Technology ETF | 28.46% | 25.38% | 3.36% |
Correlation
The correlation between TOPT and IYW is 0.88, 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 | 0.88 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2024 | 0.91 |
The correlation between TOPT and IYW has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.
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Return for Risk
TOPT vs. IYW — Risk / Return Rank
TOPT
IYW
TOPT vs. IYW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Top 20 U.S. Stocks ETF (TOPT) and iShares U.S. Technology ETF (IYW). 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.
| TOPT | IYW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.68 | ||
| Sortino ratioReturn per unit of downside risk | -0.54 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.47 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.33 | 3.29 | -0.96 |
| Martin ratioReturn relative to average drawdown | 8.81 | 10.76 | -1.95 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TOPT | IYW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.24 | 2.92 | -0.68 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.88 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.04 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.14 | 0.35 | +0.78 |
Drawdowns
TOPT vs. IYW - Drawdown Comparison
The maximum TOPT drawdown since its inception was -21.21%, smaller than the maximum IYW drawdown of -81.90%. Use the drawdown chart below to compare losses from any high point for TOPT and IYW.
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Drawdown Indicators
| TOPT | IYW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.21% | -81.90% | +60.69% |
Max Drawdown (1Y)Largest decline over 1 year | -13.13% | -17.81% | +4.68% |
Max Drawdown (3Y)Largest decline over 3 years | — | -26.47% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -39.44% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.44% | — |
Current DrawdownCurrent decline from peak | -0.93% | -1.35% | +0.42% |
Average DrawdownAverage peak-to-trough decline | -3.47% | -34.65% | +31.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.46% | 5.43% | -1.97% |
Volatility
TOPT vs. IYW - Volatility Comparison
The current volatility for iShares Top 20 U.S. Stocks ETF (TOPT) is 3.41%, while iShares U.S. Technology ETF (IYW) has a volatility of 6.28%. This indicates that TOPT experiences smaller price fluctuations and is considered to be less risky than IYW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TOPT | IYW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.41% | 6.28% | -2.87% |
Volatility (6M)Calculated over the trailing 6-month period | 10.15% | 15.84% | -5.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.67% | 20.07% | -6.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.80% | 25.86% | -6.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.80% | 25.09% | -5.29% |
TOPT vs. IYW - Expense Ratio Comparison
TOPT has a 0.20% expense ratio, which is lower than IYW's 0.38% expense ratio.
Dividends
TOPT vs. IYW - Dividend Comparison
TOPT's dividend yield for the trailing twelve months is around 0.35%, more than IYW's 0.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IYW iShares U.S. Technology ETF | 0.11% | 0.14% | 0.21% | 0.34% | 0.50% | 0.31% | 0.56% | 0.72% | 0.92% | 0.82% | 1.14% | 1.12% |
TOPT iShares Top 20 U.S. Stocks ETF | 0.35% | 0.38% | 0.08% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TOPT and IYW have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IYW has higher volatility (6.28%) compared to TOPT (3.41%). In terms of maximum drawdown, TOPT dropped -21.21% vs IYW's -81.90%.
On 1-year performance, IYW leads with 58.25% vs 30.44% for TOPT. On fees, TOPT is cheaper at 0.20% per year. On volatility, TOPT has been the lower-risk option at 3.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IYW has performed better with a 58.25% return vs 30.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TOPT is cheaper with a 0.20% expense ratio, compared with 0.38% for IYW.
TOPT has the higher dividend yield at 0.35%, compared with 0.11% for IYW.
TOPT is categorized as Large Cap Growth Equities, while IYW is Technology Equities. TOPT tracks S&P 500 Top 20 Select Index, while IYW tracks Russell 1000 Technology RIC 22.5/45 Capped Index. Their fees differ too: 0.20% for TOPT and 0.38% for IYW.
IYW currently has the higher Sharpe Ratio (2.92 vs 2.24), 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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