UPWK vs. IGV
UPWK (Upwork Inc.) is a stock, while IGV (iShares Expanded Tech-Software Sector ETF) is Technology Equities fund tracking the S&P North American Expanded Technology Software Index. Over the past 5 years, UPWK returned -32.26%/yr vs 2.55%/yr for IGV. A 0.51 correlation means they provide meaningful diversification when combined.
Performance
UPWK vs. IGV - Performance Comparison
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Returns By Period
In the year-to-date period, UPWK achieves a -60.44% return, which is significantly lower than IGV's -17.38% return.
UPWK
- 1D
- -2.61%
- 1M
- -10.91%
- YTD
- -60.44%
- 6M
- -63.18%
- 1Y
- -40.33%
- 3Y*
- -4.25%
- 5Y*
- -32.26%
- 10Y*
- —
IGV
- 1D
- -2.00%
- 1M
- -7.11%
- YTD
- -17.38%
- 6M
- -19.85%
- 1Y
- -16.92%
- 3Y*
- 9.05%
- 5Y*
- 2.55%
- 10Y*
- 15.70%
UPWK vs. IGV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
UPWK Upwork Inc. | -60.44% | 21.22% | 9.95% | 42.43% | -69.44% | -1.04% | 223.52% | -41.08% | -21.26% |
IGV iShares Expanded Tech-Software Sector ETF | -17.38% | 5.56% | 23.41% | 58.56% | -35.65% | 12.30% | 52.86% | 34.33% | -13.75% |
Correlation
The correlation between UPWK and IGV is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2018 | 0.51 |
The correlation between UPWK and IGV shifts across timeframes, from 0.41 (1 year) to 0.56 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
UPWK vs. IGV — Risk / Return Rank
UPWK
IGV
UPWK vs. IGV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Upwork Inc. (UPWK) and iShares Expanded Tech-Software Sector ETF (IGV). 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.
| UPWK | IGV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.09 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 0.92 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.63 | -0.46 | -0.16 |
| Martin ratioReturn relative to average drawdown | -1.25 | -0.95 | -0.30 |
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Drawdowns
UPWK vs. IGV - Drawdown Comparison
The maximum UPWK drawdown since its inception was -87.48%, which is greater than IGV's maximum drawdown of -63.45%. Use the drawdown chart below to compare losses from any high point for UPWK and IGV.
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Drawdown Indicators
| UPWK | IGV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.48% | -63.45% | -24.03% |
Max Drawdown (1Y)Largest decline over 1 year | -64.54% | -36.61% | -27.93% |
Max Drawdown (3Y)Largest decline over 3 years | -64.54% | -36.61% | -27.93% |
Max Drawdown (5Y)Largest decline over 5 years | -87.48% | -45.85% | -41.63% |
Max Drawdown (10Y)Largest decline over 10 years | — | -45.85% | — |
Current DrawdownCurrent decline from peak | -87.08% | -25.86% | -61.22% |
Average DrawdownAverage peak-to-trough decline | -56.53% | -14.46% | -42.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 32.23% | 17.87% | +14.36% |
Volatility
UPWK vs. IGV - Volatility Comparison
Upwork Inc. (UPWK) and iShares Expanded Tech-Software Sector ETF (IGV) have volatilities of 12.68% and 12.72%, 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
| UPWK | IGV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.68% | 12.72% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 45.77% | 24.91% | +20.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.03% | 28.33% | +30.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 63.22% | 27.97% | +35.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 64.71% | 26.42% | +38.29% |
Dividends
UPWK vs. IGV - Dividend Comparison
UPWK has not paid dividends to shareholders, while IGV's dividend yield for the trailing twelve months is around 0.02%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGV iShares Expanded Tech-Software Sector ETF | 0.02% | 0.00% | 0.00% | 0.01% | 0.01% | 0.00% | 0.35% | 0.02% | 0.16% | 0.09% | 0.82% | 0.22% |
UPWK Upwork Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UPWK and IGV have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IGV has higher volatility (12.72%) compared to UPWK (12.68%). In terms of maximum drawdown, UPWK dropped -87.48% vs IGV's -63.45%.
IGV currently has the higher Sharpe Ratio (-0.60 vs -0.69), 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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