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 -29.28%/yr vs 3.25%/yr for IGV. Their 0.51 correlation means they have sometimes moved together and sometimes differently.
Performance
UPWK vs. IGV - Performance Comparison
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Returns By Period
In the year-to-date period, UPWK achieves a -53.78% return, which is significantly lower than IGV's -10.50% return.
UPWK
- 1D
- -0.97%
- 1M
- 0.00%
- 6M
- -54.27%
- YTD
- -53.78%
- 1Y
- -22.04%
- 3Y*
- -2.95%
- 5Y*
- -29.28%
- 10Y*
- —
- ALL TIME*
- -11.10%
IGV
- 1D
- 1.36%
- 1M
- 1.08%
- 6M
- 4.75%
- YTD
- -10.50%
- 1Y
- -12.92%
- 3Y*
- 9.07%
- 5Y*
- 3.25%
- 10Y*
- 15.95%
- ALL TIME*
- 9.37%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.45B | $1.32B | $1.70B | |
UPWK Upwork Inc. | $30.19M | $28.56M | $36.03M |
UPWK vs. IGV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
UPWK Upwork Inc. | -53.78% | 21.22% | 9.95% | 42.43% | -69.44% | -1.04% | 223.52% | -41.08% | -21.26% |
IGV iShares Expanded Tech-Software Sector ETF | -10.50% | 5.56% | 23.41% | 58.56% | -35.65% | 12.30% | 52.86% | 34.33% | -13.75% |
Correlation
The correlation between UPWK and IGV is 0.42, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.42 |
Correlation (3Y) Balances recent behavior with more history. | 0.44 |
Correlation (5Y) Shows whether the relationship held over a longer 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 0.42 (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 | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.40 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 0.93 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.36 | -0.42 | +0.05 |
| Martin ratioReturn relative to average drawdown | -0.62 | -0.79 | +0.17 |
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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 | -87.34% | -45.85% | -41.49% |
Max Drawdown (10Y)Largest decline over 10 years | — | -45.85% | — |
Current DrawdownCurrent decline from peak | -84.91% | -19.69% | -65.22% |
Average DrawdownAverage peak-to-trough decline | -56.94% | -14.49% | -42.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 37.82% | 19.35% | +18.47% |
Volatility
UPWK vs. IGV - Volatility Comparison
Upwork Inc. (UPWK) has a higher volatility of 14.29% compared to iShares Expanded Tech-Software Sector ETF (IGV) at 6.80%. This indicates that UPWK's price experiences larger fluctuations and is considered to be riskier than IGV based on this measure. 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 | 14.29% | 6.80% | +7.49% |
Volatility (6M)Calculated over the trailing 6-month period | 47.48% | 25.02% | +22.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 60.97% | 29.16% | +31.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 62.66% | 28.16% | +34.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 64.58% | 26.45% | +38.13% |
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 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UPWK has higher volatility (14.29%) compared to IGV (6.80%). In terms of maximum drawdown, UPWK dropped -87.48% vs IGV's -63.45%.
UPWK currently has the higher Sharpe Ratio (-0.39 vs -0.53), 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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