TRPWX vs. IWM
TRPWX (TIAA-CREF Mid-Cap Growth Fund) and IWM (iShares Russell 2000 ETF) are both funds - TRPWX is a Mid Cap Growth Equities fund managed by TIAA, while IWM is a Small Cap Blend Equities fund tracking the Russell 2000 Index. Over the past 10 years, TRPWX returned 7.49%/yr vs 10.70%/yr for IWM. Their correlation of 0.88 means they have usually moved in the same direction. TRPWX charges 0.46%/yr vs 0.19%/yr for IWM.
Performance
TRPWX vs. IWM - Performance Comparison
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Returns By Period
In the year-to-date period, TRPWX achieves a -0.49% return, which is significantly lower than IWM's 18.79% return. Over the past 10 years, TRPWX has underperformed IWM with an annualized return of 7.49%, while IWM has yielded a comparatively higher 10.70% annualized return.
TRPWX
- 1D
- 2.64%
- 1M
- -1.99%
- 6M
- 0.95%
- YTD
- -0.49%
- 1Y
- -2.11%
- 3Y*
- 3.87%
- 5Y*
- -3.17%
- 10Y*
- 7.49%
- ALL TIME*
- 9.73%
IWM
- 1D
- -0.48%
- 1M
- -2.14%
- 6M
- 12.62%
- YTD
- 18.79%
- 1Y
- 36.90%
- 3Y*
- 15.11%
- 5Y*
- 6.99%
- 10Y*
- 10.70%
- ALL TIME*
- 8.73%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $6.67B | $6.32B | $7.45B | |
| $0.00 | $0.00 | $0.00 |
TRPWX vs. IWM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TRPWX TIAA-CREF Mid-Cap Growth Fund | -0.49% | 4.26% | 8.50% | 21.45% | -33.08% | 2.88% | 45.32% | 33.47% | -8.63% | 25.57% |
IWM iShares Russell 2000 ETF | 18.79% | 12.66% | 11.38% | 16.83% | -20.48% | 14.54% | 20.03% | 25.39% | -11.12% | 14.58% |
Correlation
The correlation between TRPWX and IWM is 0.81, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.81 |
Correlation (3Y) Balances recent behavior with more history. | 0.82 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.86 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.84 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2002 | 0.88 |
The correlation between TRPWX and IWM has been stable across timeframes, ranging from 0.81 to 0.88 - a consistent structural relationship.
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Return for Risk
TRPWX vs. IWM — Risk / Return Rank
TRPWX
IWM
TRPWX vs. IWM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF Mid-Cap Growth Fund (TRPWX) 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.
| TRPWX | IWM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.01 | ||
| Sortino ratioReturn per unit of downside risk | -2.73 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.30 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.29 | 3.11 | -3.40 |
| Martin ratioReturn relative to average drawdown | -0.73 | 11.02 | -11.75 |
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Drawdowns
TRPWX vs. IWM - Drawdown Comparison
The maximum TRPWX drawdown since its inception was -58.68%, roughly equal to the maximum IWM drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for TRPWX and IWM.
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Drawdown Indicators
| TRPWX | IWM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.68% | -59.05% | +0.37% |
Max Drawdown (1Y)Largest decline over 1 year | -15.51% | -11.03% | -4.48% |
Max Drawdown (3Y)Largest decline over 3 years | -26.39% | -27.50% | +1.11% |
Max Drawdown (5Y)Largest decline over 5 years | -44.12% | -31.91% | -12.21% |
Max Drawdown (10Y)Largest decline over 10 years | -44.12% | -41.13% | -2.99% |
Current DrawdownCurrent decline from peak | -17.42% | -3.08% | -14.34% |
Average DrawdownAverage peak-to-trough decline | -11.44% | -10.71% | -0.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.14% | 3.11% | +3.03% |
Volatility
TRPWX vs. IWM - Volatility Comparison
TIAA-CREF Mid-Cap Growth Fund (TRPWX) has a higher volatility of 5.42% compared to iShares Russell 2000 ETF (IWM) at 3.82%. This indicates that TRPWX's price experiences larger fluctuations and is considered to be riskier 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
| TRPWX | IWM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.42% | 3.82% | +1.60% |
Volatility (6M)Calculated over the trailing 6-month period | 14.68% | 14.12% | +0.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.50% | 19.41% | -0.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.57% | 22.48% | +1.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.32% | 23.01% | +0.31% |
TRPWX vs. IWM - Expense Ratio Comparison
TRPWX has a 0.46% expense ratio, which is higher than IWM's 0.19% expense ratio.
Dividends
TRPWX vs. IWM - Dividend Comparison
TRPWX's dividend yield for the trailing twelve months is around 11.03%, more than IWM's 0.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWM iShares Russell 2000 ETF | 0.91% | 1.04% | 1.15% | 1.35% | 1.48% | 0.94% | 1.04% | 1.26% | 1.40% | 1.26% | 1.38% | 1.54% |
TRPWX TIAA-CREF Mid-Cap Growth Fund | 11.03% | 10.97% | 0.00% | 0.18% | 0.60% | 15.18% | 11.52% | 11.22% | 17.00% | 9.47% | 0.51% | 8.63% |
Frequently Asked Questions
TRPWX and IWM have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TRPWX has higher volatility (5.42%) compared to IWM (3.82%). In terms of maximum drawdown, TRPWX dropped -58.68% vs IWM's -59.05%.
IWM currently has the higher Sharpe Ratio (1.77 vs -0.24), 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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