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VLLU vs. IWX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VLLU vs. IWX

Last updated Aug 2, 2026
Documentation

VLLU (Harbor AlphaEdge Large Cap Value ETF) and IWX (iShares Russell Top 200 Value ETF) are both Large Cap Value Equities funds - VLLU tracks the Harbor AlphaEdge Large Cap Value Index while IWX tracks the Russell Top 200 Value Index. Both are passively managed. Over the past year, VLLU returned 24.82% vs 34.92% for IWX. Their correlation of 0.87 means they have usually moved in the same direction. VLLU charges 0.25%/yr vs 0.20%/yr for IWX.

Performance

VLLU vs. IWX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor AlphaEdge Large Cap Value ETF (VLLU) and iShares Russell Top 200 Value ETF (IWX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VLLU achieves a 12.63% return, which is significantly lower than IWX's 20.90% return.

VLLU

1D
-0.07%
1M
1.69%
6M
9.62%
YTD
12.63%
1Y
24.82%
3Y*
—
5Y*
—
10Y*
—
ALL TIME*
16.96%

IWX

1D
0.74%
1M
2.59%
6M
15.57%
YTD
20.90%
1Y
34.92%
3Y*
18.98%
5Y*
12.65%
10Y*
12.13%
ALL TIME*
11.70%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

IWX

iShares Russell Top 200 Value ETF
$55.11M$49.72M$33.93M

VLLU

Harbor AlphaEdge Large Cap Value ETF
$4.72K$3.59K$3.56K

VLLU vs. IWX - Yearly Performance Comparison

2026 (YTD)20252024
VLLU
Harbor AlphaEdge Large Cap Value ETF		12.63%17.35%1.89%
IWX
iShares Russell Top 200 Value ETF		20.90%18.23%-0.03%

Correlation

The correlation between VLLU and IWX is 0.83, 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.

0.83

Correlation (All Time)
Calculated using the full available price history since Sep 5, 2024

0.87

The correlation between VLLU and IWX has been stable across timeframes, ranging from 0.83 to 0.87 - a consistent structural relationship.

VLLU vs. IWX - Sectors Allocation Comparison

Sectors
VLLU
IWX

Technology

26.0%
22.6%

Financial Services

22.6%
20.0%

Healthcare

14.5%
13.6%

Industrials

9.0%
8.3%

Communication Services

7.8%
3.5%

Energy

6.1%
5.1%

Consumer Defensive

5.8%
8.2%

Consumer Cyclical

4.7%
11.6%

Basic Materials

3.1%
2.8%

Utilities

0.5%
2.6%

Real Estate

-

1.8%

Technology

VLLU
26.0%
IWX
22.6%

Financial Services

VLLU
22.6%
IWX
20.0%

Healthcare

VLLU
14.5%
IWX
13.6%

Industrials

VLLU
9.0%
IWX
8.3%

Communication Services

VLLU
7.8%
IWX
3.5%

Energy

VLLU
6.1%
IWX
5.1%

Consumer Defensive

VLLU
5.8%
IWX
8.2%

Consumer Cyclical

VLLU
4.7%
IWX
11.6%

Basic Materials

VLLU
3.1%
IWX
2.8%

Utilities

VLLU
0.5%
IWX
2.6%

Real Estate

VLLU

-

IWX
1.8%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Harbor AlphaEdge Large Cap Value ETF

iShares Russell Top 200 Value ETF

Often compared with VLLU:
VLLU vs. PRXVVLLU vs. BNKDVLLU vs. GDIVVLLU vs. CBSEVLLU vs. VLUEVLLU vs. DBOVLLU vs. SPYV
Often compared with IWX:
IWX vs. IWNIWX vs. IWYIWX vs. IWCIWX vs. IWFIWX vs. XLPIWX vs. QQQIWX vs. SPYV

Return for Risk

VLLU vs. IWX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
VLLU
VLLU Risk / Return Rank: 8888
Overall Rank
VLLU Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
VLLU Sortino Ratio Rank: 8989
Sortino Ratio Rank
VLLU Omega Ratio Rank: 8686
Omega Ratio Rank
VLLU Calmar Ratio Rank: 8989
Calmar Ratio Rank
VLLU Martin Ratio Rank: 8989
Martin Ratio Rank
IWX
IWX Risk / Return Rank: 9595
Overall Rank
IWX Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
IWX Sortino Ratio Rank: 9696
Sortino Ratio Rank
IWX Omega Ratio Rank: 9595
Omega Ratio Rank
IWX Calmar Ratio Rank: 9595
Calmar Ratio Rank
IWX Martin Ratio Rank: 9696
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VLLU vs. IWX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor AlphaEdge Large Cap Value ETF (VLLU) and iShares Russell Top 200 Value ETF (IWX). 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.

VLLUIWXDifference
Sharpe ratioReturn per unit of total volatility
2.16
3.10

-0.93

Sortino ratioReturn per unit of downside risk
3.14
4.28

-1.15

Omega ratioGain probability vs. loss probability

1.38

1.55

-0.17

Calmar ratioReturn relative to maximum drawdown

3.81

5.05

-1.24

Martin ratioReturn relative to average drawdown

14.13

22.22

-8.09

VLLU vs. IWX - Sharpe Ratio Comparison

The current VLLU Sharpe Ratio is 2.16, which is lower than the IWX Sharpe Ratio of 3.10. The chart below compares the historical Sharpe Ratios of VLLU and IWX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

VLLU vs. IWX - Drawdown Comparison

The maximum VLLU drawdown since its inception was -16.62%, smaller than the maximum IWX drawdown of -35.76%. Use the drawdown chart below to compare losses from any high point for VLLU and IWX.

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Drawdown Indicators

VLLUIWXDifference

Max Drawdown

Largest peak-to-trough decline

-16.62%

-35.76%

+19.14%

Max Drawdown (1Y)

Largest decline over 1 year

-6.33%

-6.59%

+0.26%

Max Drawdown (3Y)

Largest decline over 3 years

—

-13.37%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-18.13%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-35.76%

—

Current Drawdown

Current decline from peak

-0.32%

0.00%

-0.32%

Average Drawdown

Average peak-to-trough decline

-2.33%

-3.79%

+1.46%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.70%

1.50%

+0.20%

Volatility

VLLU vs. IWX - Volatility Comparison

The current volatility for Harbor AlphaEdge Large Cap Value ETF (VLLU) is 2.79%, while iShares Russell Top 200 Value ETF (IWX) has a volatility of 3.10%. This indicates that VLLU experiences smaller price fluctuations and is considered to be less risky than IWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VLLUIWXDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.79%

3.10%

-0.31%

Volatility (6M)

Calculated over the trailing 6-month period

8.57%

8.46%

+0.11%

Volatility (1Y)

Calculated over the trailing 1-year period

11.19%

10.81%

+0.38%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.60%

13.89%

+0.71%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.60%

16.48%

-1.88%

VLLU vs. IWX - Expense Ratio Comparison

VLLU has a 0.25% expense ratio, which is higher than IWX's 0.20% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VLLU vs. IWX - Dividend Comparison

VLLU's dividend yield for the trailing twelve months is around 1.35%, less than IWX's 1.39% yield.

PositionTTM20252024202320222021202020192018201720162015
IWX
iShares Russell Top 200 Value ETF		1.39%1.59%1.97%2.13%2.07%1.79%2.12%2.60%2.66%2.12%2.22%2.77%
VLLU
Harbor AlphaEdge Large Cap Value ETF		1.35%1.52%0.90%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

VLLU and IWX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IWX has higher volatility (3.10%) compared to VLLU (2.79%). In terms of maximum drawdown, VLLU dropped -16.62% vs IWX's -35.76%.

On 1-year performance, IWX leads with 34.92% vs 24.82% for VLLU. On fees, IWX is cheaper at 0.20% per year. On volatility, VLLU has been the lower-risk option at 2.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 1-year period, IWX has performed better with a 34.92% return vs 24.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IWX is cheaper with a 0.20% expense ratio, compared with 0.25% for VLLU.

IWX has the higher dividend yield at 1.39%, compared with 1.35% for VLLU.

VLLU tracks Harbor AlphaEdge Large Cap Value Index, while IWX tracks Russell Top 200 Value Index. They also come from different issuers: Harbor and iShares. Their fees differ too: 0.25% for VLLU and 0.20% for IWX.

IWX currently has the higher Sharpe Ratio (3.10 vs 2.16), 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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