USLN vs. IWM

Last updated Jun 25, 2026

USLN (iShares Broad USD Floating Rate Loan ETF) and IWM (iShares Russell 2000 ETF) are both exchange-traded funds - USLN is a Bank Loan fund tracking the Morningstar LSTA US Leveraged Loan Broad Select Index, while IWM is a Small Cap Blend Equities fund tracking the Russell 2000 Index. Both are passively managed. At a 0.18 correlation, their price movements are largely independent. USLN charges 0.43%/yr vs 0.19%/yr for IWM.

Performance

USLN vs. IWM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Broad USD Floating Rate Loan ETF (USLN) and iShares Russell 2000 ETF (IWM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

USLN

• 1D: -0.05%
• 1M: -0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IWM

• 1D: 0.46%
• 1M: 4.31%
• YTD: 21.03%
• 6M: 17.89%
• 1Y: 39.77%
• 3Y*: 19.40%
• 5Y*: 6.33%
• 10Y*: 11.63%

*Multi-year figures are annualized to reflect compound growth (CAGR)

USLN vs. IWM - Yearly Performance Comparison

	2026 (YTD)
USLN iShares Broad USD Floating Rate Loan ETF	1.70%
IWM iShares Russell 2000 ETF	14.92%

Correlation

The correlation between USLN and IWM is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 4, 2026	0.18

Return for Risk

USLN vs. IWM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

USLN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

IWM

IWM Risk / Return Rank: 70
IWM Sharpe Ratio Rank: 70
IWM Sortino Ratio Rank: 69
IWM Omega Ratio Rank: 61
IWM Calmar Ratio Rank: 77
IWM Martin Ratio Rank: 75

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.

USLN vs. IWM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Broad USD Floating Rate Loan ETF (USLN) 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.

	USLN	IWM	Difference
Sharpe ratio: Return per unit of total volatility	—	2.03	—
Sortino ratio: Return per unit of downside risk	—	2.80	—
Omega ratio: Gain probability vs. loss probability	—	1.33	—
Calmar ratio: Return relative to maximum drawdown	—	3.62	—
Martin ratio: Return relative to average drawdown	—	12.82	—

Drawdowns

USLN vs. IWM - Drawdown Comparison

The maximum USLN drawdown since its inception was -0.75%, smaller than the maximum IWM drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for USLN and IWM.

Drawdown Indicators

	USLN	IWM	Difference
Max Drawdown Largest peak-to-trough decline	-0.75%	-59.05%	+58.30%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.03%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-27.50%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-31.91%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.13%	—
Current Drawdown Current decline from peak	-0.23%	-0.50%	+0.27%
Average Drawdown Average peak-to-trough decline	-0.21%	-10.74%	+10.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.11%	—

Volatility

Volatility by Period

	USLN	IWM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.52%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.30%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.43%	19.71%	-17.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.43%	22.60%	-20.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.43%	23.06%	-20.63%

USLN vs. IWM - Expense Ratio Comparison

USLN has a 0.43% expense ratio, which is higher than IWM's 0.19% expense ratio.

Dividends

USLN vs. IWM - Dividend Comparison

USLN's dividend yield for the trailing twelve months is around 1.55%, more than IWM's 0.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
USLN iShares Broad USD Floating Rate Loan ETF	1.55%	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

Can I hold both USLN and IWM in my portfolio?

USLN and IWM have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, USLN or IWM?

On fees, IWM is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, USLN or IWM?

IWM is cheaper with a 0.19% expense ratio, compared with 0.43% for USLN.

Which ETF pays a higher dividend yield, USLN or IWM?

USLN has the higher dividend yield at 1.55%, compared with 0.90% for IWM.

What is the main difference between USLN and IWM?

USLN is categorized as Bank Loan, while IWM is Small Cap Blend Equities. USLN tracks Morningstar LSTA US Leveraged Loan Broad Select Index, while IWM tracks Russell 2000 Index. Their fees differ too: 0.43% for USLN and 0.19% for IWM.