VRTGX vs. IWM
VRTGX (Vanguard Russell 2000 Growth Index Fund Institutional Shares) and IWM (iShares Russell 2000 ETF) are both funds - VRTGX is a Small Cap Growth Equities fund managed by Vanguard, while IWM is a Small Cap Blend Equities fund tracking the Russell 2000 Index. Over the past 10 years, VRTGX returned 12.16%/yr vs 11.63%/yr for IWM. With a 0.97 correlation, they move nearly in lockstep. VRTGX charges 0.08%/yr vs 0.19%/yr for IWM.
Performance
VRTGX vs. IWM - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both investments are quite close, with VRTGX having a 20.25% return and IWM slightly higher at 21.03%. Both investments have delivered pretty close results over the past 10 years, with VRTGX having a 12.16% annualized return and IWM not far behind at 11.63%.
VRTGX
- 1D
- -1.59%
- 1M
- 4.25%
- YTD
- 20.25%
- 6M
- 16.70%
- 1Y
- 37.69%
- 3Y*
- 19.29%
- 5Y*
- 5.28%
- 10Y*
- 12.16%
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%
VRTGX vs. IWM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VRTGX Vanguard Russell 2000 Growth Index Fund Institutional Shares | 20.25% | 12.97% | 15.26% | 18.80% | -26.30% | 2.82% | 34.81% | 28.84% | -9.21% | 22.27% |
IWM iShares Russell 2000 ETF | 21.03% | 12.66% | 11.38% | 16.83% | -20.48% | 14.54% | 20.03% | 25.39% | -11.12% | 14.58% |
Correlation
The correlation between VRTGX and IWM is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2010 | 0.97 |
The correlation between VRTGX and IWM has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VRTGX vs. IWM — Risk / Return Rank
VRTGX
IWM
VRTGX vs. IWM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Russell 2000 Growth Index Fund Institutional Shares (VRTGX) 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.
| VRTGX | IWM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.33 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.72 | 3.62 | -0.90 |
| Martin ratioReturn relative to average drawdown | 9.73 | 12.82 | -3.09 |
Loading charts...
Drawdowns
VRTGX vs. IWM - Drawdown Comparison
The maximum VRTGX drawdown since its inception was -41.97%, smaller than the maximum IWM drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for VRTGX and IWM.
Loading charts...
Drawdown Indicators
| VRTGX | IWM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.97% | -59.05% | +17.08% |
Max Drawdown (1Y)Largest decline over 1 year | -14.80% | -11.03% | -3.77% |
Max Drawdown (3Y)Largest decline over 3 years | -28.54% | -27.50% | -1.04% |
Max Drawdown (5Y)Largest decline over 5 years | -40.48% | -31.91% | -8.57% |
Max Drawdown (10Y)Largest decline over 10 years | -41.97% | -41.13% | -0.84% |
Current DrawdownCurrent decline from peak | -1.59% | -0.50% | -1.09% |
Average DrawdownAverage peak-to-trough decline | -10.40% | -10.74% | +0.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.13% | 3.11% | +1.02% |
Volatility
VRTGX vs. IWM - Volatility Comparison
Vanguard Russell 2000 Growth Index Fund Institutional Shares (VRTGX) has a higher volatility of 7.85% compared to iShares Russell 2000 ETF (IWM) at 6.52%. This indicates that VRTGX'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.
Loading charts...
Volatility by Period
| VRTGX | IWM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.85% | 6.52% | +1.33% |
Volatility (6M)Calculated over the trailing 6-month period | 16.84% | 14.30% | +2.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.28% | 19.71% | +2.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.72% | 22.60% | +2.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.57% | 23.06% | +1.51% |
VRTGX vs. IWM - Expense Ratio Comparison
VRTGX has a 0.08% expense ratio, which is lower than IWM's 0.19% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VRTGX vs. IWM - Dividend Comparison
VRTGX's dividend yield for the trailing twelve months is around 0.61%, less 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% |
VRTGX Vanguard Russell 2000 Growth Index Fund Institutional Shares | 0.61% | 0.57% | 0.62% | 0.85% | 0.78% | 0.54% | 0.53% | 0.90% | 0.85% | 0.75% | 1.07% | 0.84% |
Frequently Asked Questions
With a correlation of 0.97, VRTGX and IWM move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
VRTGX has higher volatility (7.85%) compared to IWM (6.52%). In terms of maximum drawdown, VRTGX dropped -41.97% vs IWM's -59.05%.
IWM currently has the higher Sharpe Ratio (2.03 vs 1.81), 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.
Find the right allocation for VRTGX and IWM
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer