VSMAX vs. IWM
Compare and contrast key facts about Vanguard Small-Cap Index Fund Admiral Shares (VSMAX) and iShares Russell 2000 ETF (IWM).
VSMAX is managed by Vanguard. It was launched on Nov 13, 2000. IWM is a passively managed fund by iShares that tracks the performance of the Russell 2000 Index. It was launched on May 22, 2000.
Performance
VSMAX vs. IWM - Performance Comparison
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VSMAX vs. IWM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VSMAX Vanguard Small-Cap Index Fund Admiral Shares | -1.21% | 8.83% | 14.23% | 18.17% | -17.61% | 17.74% | 19.06% | 27.36% | -9.33% | 16.24% |
IWM iShares Russell 2000 ETF | 0.93% | 12.66% | 11.38% | 16.83% | -20.48% | 14.54% | 20.03% | 25.39% | -11.12% | 14.58% |
Returns By Period
In the year-to-date period, VSMAX achieves a -1.21% return, which is significantly lower than IWM's 0.93% return. Both investments have delivered pretty close results over the past 10 years, with VSMAX having a 10.15% annualized return and IWM not far behind at 9.76%.
VSMAX
- 1D
- -0.98%
- 1M
- -8.09%
- YTD
- -1.21%
- 6M
- 0.58%
- 1Y
- 16.07%
- 3Y*
- 11.85%
- 5Y*
- 5.02%
- 10Y*
- 10.15%
IWM
- 1D
- 3.50%
- 1M
- -4.96%
- YTD
- 0.93%
- 6M
- 3.02%
- 1Y
- 25.66%
- 3Y*
- 12.94%
- 5Y*
- 3.34%
- 10Y*
- 9.76%
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VSMAX vs. IWM - Expense Ratio Comparison
VSMAX has a 0.05% 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%.
Return for Risk
VSMAX vs. IWM — Risk / Return Rank
VSMAX
IWM
VSMAX vs. IWM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap Index Fund Admiral Shares (VSMAX) 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.
| VSMAX | IWM | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.75 | 1.11 | -0.36 |
Sortino ratioReturn per unit of downside risk | 1.19 | 1.66 | -0.47 |
Omega ratioGain probability vs. loss probability | 1.16 | 1.21 | -0.05 |
Calmar ratioReturn relative to maximum drawdown | 0.97 | 1.82 | -0.86 |
Martin ratioReturn relative to average drawdown | 4.20 | 6.76 | -2.57 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VSMAX | IWM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.75 | 1.11 | -0.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.24 | 0.15 | +0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.47 | 0.43 | +0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.34 | +0.02 |
Correlation
The correlation between VSMAX and IWM is 0.98, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
VSMAX vs. IWM - Dividend Comparison
VSMAX's dividend yield for the trailing twelve months is around 1.38%, more than IWM's 1.02% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VSMAX Vanguard Small-Cap Index Fund Admiral Shares | 1.38% | 1.33% | 1.30% | 1.56% | 1.54% | 1.24% | 1.14% | 1.39% | 1.67% | 1.35% | 1.49% | 1.48% |
IWM iShares Russell 2000 ETF | 1.02% | 1.04% | 1.15% | 1.35% | 1.48% | 0.94% | 1.04% | 1.26% | 1.40% | 1.26% | 1.38% | 1.54% |
Drawdowns
VSMAX vs. IWM - Drawdown Comparison
The maximum VSMAX drawdown since its inception was -59.68%, roughly equal to the maximum IWM drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for VSMAX and IWM.
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Drawdown Indicators
| VSMAX | IWM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.68% | -59.05% | -0.63% |
Max Drawdown (1Y)Largest decline over 1 year | -14.30% | -13.74% | -0.56% |
Max Drawdown (5Y)Largest decline over 5 years | -28.14% | -31.91% | +3.77% |
Max Drawdown (10Y)Largest decline over 10 years | -41.82% | -41.13% | -0.69% |
Current DrawdownCurrent decline from peak | -8.97% | -7.91% | -1.06% |
Average DrawdownAverage peak-to-trough decline | -9.75% | -10.83% | +1.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.30% | 3.70% | -0.40% |
Volatility
VSMAX vs. IWM - Volatility Comparison
The current volatility for Vanguard Small-Cap Index Fund Admiral Shares (VSMAX) is 5.91%, while iShares Russell 2000 ETF (IWM) has a volatility of 7.47%. This indicates that VSMAX experiences smaller price fluctuations and is considered to be less risky than IWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VSMAX | IWM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.91% | 7.47% | -1.56% |
Volatility (6M)Calculated over the trailing 6-month period | 12.22% | 14.47% | -2.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.62% | 23.18% | -1.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.69% | 22.55% | -1.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.52% | 22.99% | -1.47% |